OnTheMarket (OTM) has announced it has applied to the London Stock Exchange for the release of more than one million new shares for agents who have signed long-term listing deals with its property portal, OneTheMarket.com.
The new shares will go live on Friday if the Exchange agrees.
No details have been revealed as to the identities or numbers of agents involved but in recent months OTM has used shares as an incentive for agents - previously listing on discounted or free deals - to become customers paying at market rates.
Last month a report to OTM shareholders and the City said that only around 1,000 of its existing members on free deals had converted to paying contracts an average revenue per agency of £337 per month. The report also suggested that OTM was owed £6.8m by agents who had not paid subscriptions.
Read more here
Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.
The online classifieds operator Digital Classifieds Group (DCG) has appointed an administrator and "registered liquidator" according to filings on the...
Read More
This week's People Roundup starts in China, with a big change at the very top of a real estate giant......
Read More
It's a big product roundup this week at Online Marketplaces. This week's roundup starts with a major rebranding exercise coming...
Read More
The Tinius Trust, through its holding company Blommenholm Industrier, is preparing to sell nearly a third of its remaining shares...
Read More
