OnTheMarket PLC (LON:OTM) says its recent listing on AIM has prompted a surge of new estate agents signing up to its portal.
By 5pm yesterday, 81 new listing agreements had been signed in five days with a number of other listing agreements expected to be seen as a result of recent and planned meetings.
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OntheMarket, which is positioning itself as a rival to Zoopla and Rightmove, added that some larger agents had also expressed interest in long-term agreements to list properties in return for shares in the company.
An AIM float was also one of the conditions specified by some before they listed their properties on the company’s portal.
There are about 18,000 estate agent branches in the UK, said OnTheMarket.com, with a third of UK residential property listings carried on its portal at February 9, the date it joined AIM.
Ian Springett, chief executive added: "The level of agent interest on the ground for the OnTheMarket proposition has been extremely encouraging, not least in terms of the number of offices which have already signed a contract with OnTheMarket during our first week of recruitment and selling.
"The estate agent sector is highly local in character and early indications are that we are on track in terms of creating local momentum in the marketplace up and down the UK.
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"The more agents who join now, the more we believe all agents and property-seekers will benefit in terms of the increased property stock at OnTheMarket.com.
“We aim to build rapidly on this early momentum as a key step towards becoming a full-scale competitor to the market-leading portals."