The website, proactiveinvestors.co.uk has published a piece saying that the key to ongoing success for OnTheMarket will be its ability to convert estate agents on free or discounted rates to the full-price contracts.
Noting that chief executive Clive Beattie says lockdown “put the brakes on”, the site says the Covid crisis could turn out to be a catalyst for change that will ultimately benefit OnTheMarket.
“A groundswell of negativity towards Rightmove’s pricing has only been amplified by the outbreak, which has seen estate agents struggle financially.
“On that basis, OnTheMarket’s low-cost proposition has resonance.”
The site says:
“As more agents start paying higher fees, so revenues will grow, while there should, at some point be a flip to profitability and cash generation.
“When this will happen is anyone’s guess… and, of course, we don’t know just how acute the recession will be – though we know it is coming.”
It’s not coming we are already in a recession!
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Well I never . How long did it take for them to work that one out
“The website, proactiveinvestors.co.uk has published a piece saying that the key to ongoing success for OnTheMarket will be its ability to convert estate agents on free or discounted rates to the full-price contracts.”
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