The property portal, Onthemarket.com, has reported a remarkable increase in its website traffic for January, surpassing 23.5 million visits.
This surge is attributed to the rapid growth in estate and lettings agent branches contracted to list on the website, marking a notable achievement for the company.
Substantial Growth in Agent Listings
In January, Onthemarket.com experienced significant growth, with website visits exceeding 23.5 million. This spike in traffic is due to the rapid increase in the number of estate and lettings agent branches contracted to the platform. As of 31 January 2019, the company boasts over 12,500 contracted branches, a substantial rise from the 5,500 branches recorded in February 2018.
]This marks a significant milestone in less than a year since their IPO.] said Ian Springett, CEO of Onthemarket.com. He mentioned that the platform has greatly narrowed the gap in property listings between its portal and competitors such as Rightmove and Zoopla.
Network Effects and Customer Leads
Ian Springett highlighted that the platform’s achievements have led to strong network effects, resulting in a substantial increase in the number of leads delivered to agent customers. These developments underline the success of their strategy to rapidly expand the scale of the portal.
By attracting more property-seekers to view more properties, many listed on a new and exclusive basis, Onthemarket.com is generating greater value for agents. This value extends beyond direct advertising returns to creating much-needed competition in a market previously dominated by two large portal groups.
Strategic Milestones
Onthemarket.com’s latest milestones indicate that its strategy to draw in more property-seekers is effective.
The increase in website visits has been attributed to the platform offering numerous properties on a new and exclusive basis. This approach has proven to be a recipe for success, generating more value for agents.
Springett emphasised that the substantial number of leads they are now delivering to agents is a testament to the platform’s growing scale and effectiveness.
Agent Feedback and Market Impact
The success of Onthemarket.com is also reflected in the positive feedback from estate and letting agents.
Agents have reported a significant increase in the number of leads and enquiries they receive. This is a clear indication of the platform’s expanding influence in the property market.
The growth not only benefits the agents but also provides more options for property seekers, creating a more dynamic and competitive market.
Competitive Market Landscape
The property market has long been dominated by a few large portal groups. Onthemarket.com’s rapid growth is now challenging this status quo. By delivering substantial numbers of leads and offering exclusive property listings, the platform is injecting much-needed competition into the market.
This competition is crucial for the health of the market, providing more choices for consumers and better opportunities for agents. The increased traffic to Onthemarket.com demonstrates the demand for a more competitive landscape.
Future Prospects
Looking ahead, Onthemarket.com aims to continue its growth trajectory. The company plans to further expand its agent base and enhance its property listings. This will likely lead to even higher website traffic and more value for agents.
Springett remains optimistic about the future, emphasising that their strategy is clearly working and the latest milestones are just the beginning.
Conclusion
In summary, Onthemarket.com has achieved a remarkable increase in website traffic, driven by a strategic expansion of its agent base and exclusive property listings. The platform’s success is a positive development for agents and property seekers alike, fostering a more competitive and dynamic market.
Onthemarket.com has demonstrated a significant boost in website traffic, reflecting its strategic growth and increased agent listings.
This development is expected to continue, further enhancing the platform’s value for both agents and property seekers.