OnTheMarket shares now worth half what they were at launch almost a year ago

| Rosalind Renshaw

Shares in OnTheMarket sunk over 11% yesterday to an all-time low of 74p.

The price compares with a high of 181p last May, and means they are now worth exactly half of their launch price last February of 148p.

Another faller yesterday was Countrywide, down over 4% to finish the day at around 9.2p. The beleaguered firm’s share price has not been above 10p so far this year.

Foxtons’ shares also took a tumble, albeit under 1%, taking the price down to around 53p.

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22 Comments

  1. Chatty Cathy
    January 23, 2019 at 07:17

    I just bumped into Ian Springett and he said he’s had to cancel one of his two super yacht orders, he looked genuinely devastated

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    1. JonnyBanana43
      January 23, 2019 at 08:11

      He made a LOT of money when he invented primelocation 
      I hope he does it again… for ALL our sakes! 

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      1. P-Daddy
        January 23, 2019 at 10:14

        Don’t worry Chatty, the board of Rightmove have decided to buy the superyacht he needed to abandon…and they are also buying Necker off Richard Branson with the loose change.

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  2. Cheltenhamproperty98
    January 23, 2019 at 07:30

    Having joined OTM a couple of months ago, I have shocked at the number of leads that they have provided. I also find their customer service to be good. What have other agents found?

    I am aware of course, that this does not directly affect the share price.

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    1. ArthurHouse02
      January 23, 2019 at 07:46

      I have found that the lettings leads are significant, though the sales leads are not only in very short supply, the quality is awful. We get a sales enquiry from OTM once or twice a week, but dont think we have actually been able to make contact with any of these people ever! Incorrect phone numbers, dodgy emails no addresses it is just diabolical.

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      1. Bless You
        January 23, 2019 at 09:27

        Best leads I get are from people calling from a for sale board after driving around the area they want to live.  Can i have a few £million please. It’s called a board-tech venture.

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    2. JonnyBanana43
      January 23, 2019 at 07:49

      Good leads and “new and exclusive” works surprisingly well!

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      1. El Burro
        January 23, 2019 at 09:43

        Same for us, Rightmove leads declining and OTM narrowing the gap month by a good margin so there’s little to choose between them now.

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    3. Robert Sargent
      January 23, 2019 at 08:23

      As an update to how OTM performs for us. The lead supply on sales is strong and represents about 30% to 35% of RM volumes. But interestingly on residential lettings, OTM has recently been out performing RM.

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  3. Budgie boy
    January 23, 2019 at 07:36

    I and many other V1 members have been well and truly shafted by this lot. As long as we continue to be invoiced for not being allowed to list our properties and treated differently to the newer members, the support that’s needed, will never come.Thats my opinion anyway.

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  4. smile please
    January 23, 2019 at 07:36

    So much for the £5.00 a share promise to get agents to vote to list.

    Complete shambles of a company.

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  5. JonnyBanana43
    January 23, 2019 at 07:52

    Surely now is the time to buy dem shares? Share price compared to RM and Zoopla is SUPER cheap.

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    1. AgencyInsider
      January 23, 2019 at 07:57

      You might have said that about Patisserie Valerie…

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  6. SJEA
    January 23, 2019 at 09:41

    Surely, if agents /OTM’s customers continue to back and support OTM, investors will see this support and eventually lead to further investment thereby increasing the share value ?

    More and more agents are seemingly more positive about the leads being received – this can only be a good thing for those of us paying for subscriptions.

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  7. Woodentop
    January 23, 2019 at 10:09

    They aren’t the only ones, I see PB are still hovering around the 70% loss in share value. Is todays story confirming that the market is starting to wise up to these companies are not worth the value they claim?

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  8. simon cooper
    January 23, 2019 at 10:23

    Across 21 Stags offices email leads from OTM are up 98% compared to same month last year. They now comprise over 40% of the email leads we receive from the two portals we are on (RM and OTM) so we are very pleased with how they are performing.

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  9. RentBoy
    January 23, 2019 at 10:25

    I’m not sure if this is good or bad.  I went into OTM v1 to get a portal that agents controlled.  That was why i was against v2 but the usual agent greed won that argument.  With the share price low, one would presume that outside investors are not interested thus leaving agents still in control.  Go on, tell me i’m just naive.  Interestingly as a letting agent, so far in January, we have received nearly twice as many leads from OTM as from RM.

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  10. Woodentop
    January 23, 2019 at 10:28

    The current OTM TV advert is poor, clearly produced by someone who doesn’t know sales! Wishy washy, no hard drive to why the public should use them, its lost in the message.

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    1. AgencyInsider
      January 23, 2019 at 10:34

      Agreed Woodentop. OTM has just one USP – the properties shown before they reach other portals. That message is in the current tv advert but in my opinion the voiceover speaking about that USP is drowned out by that bl**dy awful dirge of a jingle. I bet if you could find someone who has heard of OTM they would not be aware of the 24 hour time advantage for the listings.

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      1. Woodentop
        January 23, 2019 at 20:27

        Nail on the head which I have commented about before. As a property portal they are no different to any of the others, so why should Joe Public take notice? It is that 24 hour or more listing before !!!!!!!!!!!!!!!!!!!!!!! by agents all over the UK. Spin it around to be more relevant to the consumer (most I would say see no real advantage “as is”) …… “that dream home you wanted was sold yesterday, next time go to OTM or someone else will beat you to it again and you do you really need to go to the other portals to only see its advert repeated as SOLD”. At least they didn’t engage the advertising company that does the Nationwide one .. or did they!

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  11. GPL
    January 23, 2019 at 12:12

    Anyone knows “GPL” knows about me being OTM V1 Gold Day 1 Member, and unstintingly “FOR OTM” when they were on the V1 Agents Mutual Bus. ……then they (OTM) took the V2 Golden Financial Tour Bus with the “Promises” of Jam, Jam & more Feckin’ Jam?!
     
    I do actually want them to suceed, Rightmove have systematically sucked Our Industry and deserve to be cast down the darkest portal toilet!
     
    However…… OTM V2? …….even with a gaping goal and all the unrest with Rightmove’s Scandalous Annual Increases (and Zero Customer Service from Rightmove, in return for 5 figure annual payment!) …….OTM V2 simply fail to score. Cr@p Ad, Cr@p Strategy, Cr@p Leadership, Cr@p Communication…….
     
    ……and the £5, £1.65, 75 pence Share Price? Is that a Secret Stategy to acquire more Shares at bucketshop money?!
     
    One thing’s for sure…. I DETEST Rightmove and look forward to their downfall!
     
    On the other hand….. when does someone get a grip of the OTM V2 Circus???????
     
    Zoopla? They seem actually to have woken up, it may indeed be time to bin Rightmove, however OTM V2? ……..you are as inviting as Mrs May at an EU Brexit Convention!
     
    It’s Coffee Time OTM …… Wake Up & Do something to engage with UK Estate Agency …….or **** (f e c k) off & stop wasting our time!  
     
     
     
     

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  12. GPL
    January 23, 2019 at 17:00

     

    Looking at the OTM Share Price purchases today ……another 30,000 single transaction? ……someone benefits from the falling Share Price?

    Would be interesting if there was a requirement to show who purchasers were ……I’m sure it would make interesting reading?

    Not everything is what it seems….

     

     

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