OTM announced that in July 2016 some agents will be offered the opportunity to list with OnTheMarket for free now if they sign a Letter of Intent promising to formally sign up with the portal in the future.
This is their recruiting tool to attract agents who may, when portal membership reached 7,500, sign up on a formal basis.
Now OTM appears to be taking that further.
Chief executive at OTM Ian Springett, has said that the majority of the agents who have signed letters of intent “are currently listing with only one of the two other major portals and are therefore eligible to list with OnTheMarket now, whilst we build to that figure of 7,500 supporting offices.”
Springett continues to explain that “Such agents in selected areas have been offered the opportunity to list immediately with OnTheMarket for a period when they sign a letter of intent. These agents will have the opportunity to convert to their choice of standard tariff at the end of that initial period. There are many estate and letting agents who have a ‘wait and see’ approach to joining OnTheMarket. It is equally a reality that the more agents who join and the sooner they do so, the more powerful OnTheMarket will be in continuing to disrupt the duopoly and in providing an alternative search service for consumers and agents alike”.