A large multi-brand lettings agency group is dropping its listings on Zoopla and instead going to list rental properties on OnTheMarket - while continuing its current listings on Rightmove.
The 245-branch Leaders Romans Group says it’s the first major agency to advertise with OnTheMarket since its recent acquisition by CoStar Group,
The agreement includes LRG’s so-called heritage brands - Leaders and Romans - alongside Scottfraser, Moginie James, Gibbs Gillespie, Portico, Hose Rhodes Dickson, Acorn, Langford Russell, John Payne and SOWN. These will all advertise their letting properties with OnTheMarket.
In addition, if LRG acquires additional brands, they will be part of the listing agreement with OTM.
Michael Cook, chief executive of LRG, comments: “We are looking forward to a successful new partnership with OnTheMarket, having been impressed with the continued innovation and development of their platform. We are excited by the opportunities their recent acquisition by CoStar will bring, with industry leading expertise and significant financial backing, we hope to see the OnTheMarket brand flourish over the next couple of years.”
Cook had been chair of Zoopla’s lettings advisory board during the three year deal that LRG had with Zoopla from 2021.
And OTM chief executive Jason Tebb says: “I’m really pleased Leaders Romans Group has chosen to commit to our portal as their strong brands continue to evolve and the partnership will help our ongoing push for growth across the country. It’s an incredibly exciting time for our agents, with the acquisition by CoStar Group set to accelerate our target of becoming the market leader, bringing industry-leading global expertise and significant financial firepower to help deliver even more value for all our customers.”
US-owned CoStar made a successful £100m takeover bid through its UK arm for OTM in November and vowed to “aggressively” build the business and grow its market share.
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Possibly a financial decision. OTM is poor and cheap, Zoopla is poor but expensive. No one is chopping their arm off on RM thats for sure.
OTM does it all for us I suppose it depends on the area, up North it's bigger and better than Rightmove and Zoopla, probably because the agents in the North all stuck together and continue to promote OTM, and dropped one other portal when the rule applied. Happy Days now we don't need anything other than OTM.
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