What is OnTheMarket?
OnTheMarket is an online residential property portal based in the United Kingdom that features property listings for sale or rent from subscribing estate and letting agents. It launched in January 2015 with the goal of providing an alternative search site to Rightmove and Zoopla.
The key differentiator of OnTheMarket is that it only displays listings from agent offices that are signed up to advertise properties on the platform, unlike some other major portals which also aggregate listings from non-member agents. This exclusivity aim is to encourage serious, motivated property-seekers to search OnTheMarket.
OnTheMarket is run by Agents' Mutual Limited, which is owned by a number of UK estate and letting agent companies. By subscribing to list properties on the portal, agents become shareholders in the business. The premise is that this gives agents more control and ensures OnTheMarket acts in their interests.
As of 2022, OnTheMarket claims to have over 13,500 agent offices listing on the site, amounting to over 1 million property listings available at any time. It has established itself as one of the leading residential property portals in the UK market.
The company behind OnTheMarket became listed on the London Stock Exchange in February 2018 when it had an initial public offering (IPO).