With the recent news that OnTheMarket (OTM) membership is 'much higher' than had originally been anticipated, how does this translate to our local area?
We decided to do some digging to find out the number of properties being listed for rent as of this morning (19th November 2015) on the three main portals. We discovered that in our hometown Wilmslow, there's no surprise that Rightmove remains the dominant portal. However OnTheMarket has twice as many properties as Zoopla which suggests significant advancement.
Number of properties listed in Wilmslow
However if we take a look at Stockport, the figures tell a different story.
Number of properties listed in Stockport
If we drill down into the properties directly, the reason for this change is simple: The large agencies such as Gascoigne Halman and Jordan Fishwick have signed up to OTM and they have a presence in Wilmslow, where as the larger agencies in Stockport such as Bridgefords and Edward Meller are not members.
What is interesting through is how many listed properties are solely on Rightmove and no other portal. We can assume that all the properties listed with Zoopla and OTM are duplicated on Rightmove, so the difference is around half. Half of agencies have decided to focus their marketing efforts on only one portal (all be it one with close to 100% of all properties!).
While OnTheMarket is still establishing itself as the second portal of choice for prospective tenants and buyers, and expects to further increase its awareness through media coverage in the run up to Christmas, the data suggests some significant advances in the Wilmslow area, at least in terms of the number of properties it lists. Does this mean quality leads are twice as likely to come through? Unlikely at this point in time, but it does mean your property would have a greater chance of being seen if it is listed with an agent that advertises on more than one portal especially in Wilmslow.