LONDON: OnTheMarket plc (AIM: OTMP), the majority agent-owned company which operates the OnTheMarket.com property portal, announced the renewal of contracts with existing customers and the signing of an agreement with Lomond Group.
Contract Renewals
On the Group’s admission to AIM in February 2018, many of our agency customers at that time committed to listing agreements with a five-year minimum term, running initially to February 2023. We are pleased to announce that several of the highest profile agency brands have signed new agreements including but not limited to;
| · Arun Estates | · Knight Frank |
| · Chancellors | · Savills |
| · Chestertons | · Spicerhaart |
| · Douglas & Gordon | · Webbers |
| · Glentree | · Carter Jonas |
Lomond Group
Alongside these important contract renewals, OnTheMarket is pleased to announce an agreement with Lomond Group, to list its properties with the portal. The fast-growing network of sales and lettings businesses encompasses over 60 branches across many well-known agency brands located across England and Scotland.
In July, Foxtons, one of London’s leading estate agencies with 50 interconnected branches, similarly committed to a listing agreement, significantly expanding the portal’s presence in the capital.
Jason Tebb, Chief Executive Officer of OnTheMarket, commented: “We have been successfully broadening the technology capabilities and functionality of our agent-focussed products and services, ensuring we continue to offer greater value to agents and consumers alike. The commitment of these major brands and our valued long-term agency customers and shareholders is proof that our strategy is working. We look forward to unveiling many more innovations as we continue to develop our differentiated, technology-enabled property business.”