OnTheMarket


OnTheMarket.com is a British property search portal that launched in January 2015. It covers the residential property market including sales and lettings throughout the United Kingdom. It is the third biggest property portal provider in terms of traffic and competes with companies including Rightmove and Zoopla. The key proposition of the business is the creation of an agent-backed, full-scale property portal by offering a premier search experience to consumers whilst charging sustainably fair prices to agents.
OnTheMarket plc is listed on the AIM market on the London Stock Exchange.

Operations

OnTheMarket.com is an online directory of UK residential properties for sale and to rent. Users can search by postcode and see the properties located on Google Maps. HM Land Registry data is available to provide searchers with sold house prices. The website also lists properties for sale overseas and commercial property lettings and sales.

History

In 2013, estate agents including Knight Frank, Savills, Strutt & Parker, Chestertons, Douglas & Gordon and Glentree Estates founded Agents' Mutual Ltd. The company launched its portal OnTheMarket.com in January 2015.
OnTheMarket members signed up to a 'one other portal' rule as a measure they saw as necessary for the portal to enter the UK market, which was overwhelmingly dominated by two players.
On 5 July 2017 the Competition Appeal Tribunal ruled OnTheMarket.com's one other portal rule - which stipulates estate agent members can list on a maximum of one other competing portal - is not anti-competitive. This judgement was supported in January 2019 by the Court of Appeal.
In September 2017, Members of Agents’ Mutual voted 89% in favour of demutualisation of the company to introduce a new parent company – OnTheMarket plc – in preparation for the admission to the AIM market of the London Stock Exchange.
On 9 February 2018 OnTheMarket plc was admitted to the AIM market of the London Stock Exchange.