The Sunday Times yesterday backed OnTheMarket with a buy recommendation.
The Inside the City column, by Sabah Meddings, said: “OnTheMarket looks as if it might soon get the keys to a bigger market value.
“The upstart rival to Rightmove and Zoopla . . . is ramping up plans to turn a profit.”
The column quotes some arguments and data familiar to EYE readers, concluding that Rightmove and Zoopla have until now enjoyed a duopoly. Meddings goes on: “In recent months, however, analysts say OnTheMarket might give them a run for the money.”
The column quotes from OTM chief executive Ian Springett’s upbeat presentation to last week’s NAEA conference, and also references the legal victory over Gascoigne Halman in the Court of Appeal.
Meddings says the share price of OTM has risen this month after the firm revealed it now has 12,500 branches and will use an allocation of 36m shares to recruit agents to sign long-term deals.
Shares in OTM closed on Friday at 106.5p – down from a high of 181p last May, and adrift from its debut price of 148p when it floated last February on AIM. However, the shares have been ticking up since a low of about 76p last month.
Meddings concludes: “If it can prove it can turn a profit, there should be value ahead. Buy.”
That’s the biggest test of all
When the free trials end and OTM starts charging
Stalled at 12500? Need to see them drive through 13000 and then towards 15000. If we see that happening then Rightmove & Co are dead portals walking
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“Dead Portals Walking” – great line!
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BMW Club will be on here soon!
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Oi…. cheeky… love my beemer.
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the BMW club?
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Maybe they need the propaganda services of your chum Russell “Emoov’s crash was everybody’s fault but mine” Quirk .Lending a hand to make them seem more profitable and bigger than what they are !
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Everyone enjoying or ignoring their Rightmove annual face slaps this month?
Surely time has now been called on this annual farce
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I got my letter increasing from £600 to £750. Contacted them to “explain my feelings” about this and cancelled my subscription. They phoned me last week to ask what they could do to keep me on board. They have no offered to reduce my fee to £300. Its ok, they can still get stuffed.
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Out of interest would you mind saying what package you were on? We are on the basic RM lettings and sales package and are paying £1200 a month.
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I am just Lettings
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Imagine this conversation…. in a run of the mill coffee shop, somewhere in London…
Chap, lets call him Ian…. “Great News though Rodney, OTM Share Price £1.12 this morning, up from that low point of 76pence… those 3 Million Free Shares I have, that’s a difference of £1 Million already. Bl££dy Marvellous!”
Meanwhile, a Chap at another table mentions to his kilted friend…. “So then, those shares that OTM gave you instead of paying back the loan you gave them, what did they say…. £5 each! ……how much have you made on them then?”
Kilted Chap responds, “So far? …..I’m down around 75% of the £5 per share they babbled on about!” ……”and I’m still paying them £250+ per month”
Other Chap laughs and says “Bet you wish you were Ian Springett, I hear he baths in champagne every morning, before checking his share price!”
At the other table, the Chap Ian? ….he leaves the Waiter a Share Certificate with 1 OTM Share/Value £5 printed on it and tips his OTM Top Hat whilst humming that “Owaaaaaaaannn the Maaaaarket” telly tune!
The Kilted Chap looks out the Coffee Shop Window and sees the Ian Chap stepping into his Chauffeur Driven Limo and notices the Number Plate as it drives away…. “FU2” …..and a Rear Window Sticker just visible which reads “If you read this and believe it you must be a Fool!”
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Know what GPL ? If Ian can break the stranglehold on agents that RM has, he’s worth every penny (or million) in my book. Agents clearly have no history of being able to act together in their own best interest, so if OTM can, despite the whining and moaning, lead us to a future where we can say what we all want to say to RM about its greed, then he deserves our support.
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we pay £1194 month for the Rightmove core membership, these double digit price increases are too much. Everyone needs to get behind OTM otherwise these sort of increases will never end.
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I know this Scruffy…. I don’t know you, however enlighten me where you were when OTM V1 launched.
Take a quick history lesson and read through PIE, learn about “Whining & Moaning” ……. then resurface and enlighten me with your Wisdom about my experience with/support of OTM.
…..and remember, I’m still paying monthly because of that old fashioned thing …..being honourable when you sign-up to support something.
Ian is certainly not worth every penny however it’s the market we live in. Ian won’t break the “stranglehold” ……UK Estate Agents will, however at 12500 Members, the finishing line is NOT in sight. When OTM breaches 15,000, moves through 16,000 and then past 17,000 towards the 20,000 mark ……then, and only then can Our Industry applaud OTM ……and then await what direction it takes to satisfy its major shareholders.
In the meantime, keep your powder dry Scruffy …..we’ve been here with OTM V1 The Promised Land, and then the parting seas dissolved ……the OTM V2 Parting Seas Moment will be when the Free Trial Followers have to cough-up financially, as I still do every month! …….then we’ll have a better idea of whether my money being burned was worth it! For now, the OTM Leads don’t justify what I’m paying, and Rightmove’s quality is woeful, thankfully my own Website delivers the quality buyer’s I require.
I’m not with other portals because they work, they don’t work/or justify their cost because Agents have re-learned how to sell their property within their local markets/without relying on the PR Machine Portals which pump millions into maintaining the illusion that portals sell properties, when Estate Agents actually Sell Properties.
I wish OTM success, despite it sh£ting upon myself and other V1 Members ……that is a monumental credit to me, that I look beyond the shameful way OTM treated its V1 Leave Members.
There is always light & shade Scruffy …..and I look at both.
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As a Freebie user, I have now been offered “free shares” if I pay £249 per month per office…. 3802 if I contract for 3 years and 9054 if I agree to 5 years. Not allowed to sell for 5 years at least. Any-one got a crystal ball?
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I can’t imagine you will have to wait that long before someone buys OTM.
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Well draspeger…
I bought into OTM V1…. and I did so to support Our Industry 1st, financial benefit was way down the list, other than to torpedo Rightmove!
Call it as you see it…. looks like a combination of still supporting Our Industry, torpedo’ing Rightmove and the Gamble of future Financial Benefit in terms of Share Sale/Buy-Out …….and there’s the rub…. if it’s a Cash-in/Sell-out scenario then we may well be sliding back to Square One in terms of Portal Advertisers.
Try eBay – search “Crystal Ball” …….or go with head & heart.
If I guessed, I would venture that Rightmove Share Price is hanging on a shoogly nail, which would have been unthinkable in recent years. On Portal Happiness? …….mine would be the collapse of Rightmove for it scandalous disregard for Our Industry.
For me, OTM, The Jury is firmly out based on my experience, OTM have a long, long way to go to earn my trust.
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Hi guys and girls, I’m doing a survey regarding the property portals, rather relevant to this article, I’m trying to get as many agents as possible to take the survey. Please do answer it as honestly as you can, you will see the results once you’ve completed it, feel free to share the link with agent friends.
https://www.surveymonkey.co.uk/r/SQT9YJP
Thanks to all that have done it!
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Who are you “apples”, who do you represent?.
Always good to know who is asking the Questions?
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GPL you said you were an employee of your company, if so why are you paying OTM? I remember many winging and moaning but that seems to be aimed at RM now so like the majority on this forum why don’t you just get behind OTM and forget your definition of OTM V1, its boring and tedious.
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Boring & Tedious….. because I don’t dance to your tune HIT MAN? ……it’s funny, the “comments” that tumble from those that hide away.
Whilst I still pay OTM for their pleasure, trust me, I can have my opinion, whether or not it differs from you.
It’s a Bummer HIT MAN….. free speech! …….and if my OTM V2 was free I may take a different view.
Have a nice evening HIT MAN. Sleep on your next imaginative comment …..now that you’ve appointed yourself as Spokesperson for the majority on PIE. Wear your Pointy Hat with Pride, you’ve obviously earned it.
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I dabble a bit in the stock market but definatley no expert. Best buy ever-I bought a load of Rightmove shares when they were issued .DYOR.
OTM is a great buy and is going to keep going – Duopolies rarely last .Just change the ad!
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