- Real estate portal OnTheMarket has announced that almost 500 estate agent branches are now contracted under its most recent listing offers, which issue welcome shares to each business owner, and confirmed record leads in June.

The company said that of the branches signing up to the new listing agreements, more than 60% are currently contracted to either list exclusively with OnTheMarket or on a one other portal basis of either Rightmove or Zoopla/Primelocation.

The new contracts launched on 27 April 2020, issue either £1,000 of welcome shares per office with flexible portal choices, or £2,500 of welcome shares per office if an agent commits to list exclusively for a minimum of 12 months.

Under both contracts, OnTheMarket reported that listing is free until 1 September 2020 and agents receive additional shares that equate to a percentage of the amount that they pay up until 31 August 2022.

OnTheMarket said it set a new record with the number of leads it delivered to advertisers in June 2020, as more than 1.8 million leads were generated in the month, with an average of 134 leads per advertiser.

Acting chief executive Clive Beattie said: 'With agents owning c.65% of OnTheMarket it is clear that our interests are directly aligned.

'I am delighted to see agents commit to OnTheMarket through our most recent contract offers and to have achieved this level of recruitment against the challenging backdrop of COVID-19.'

At 9:30am: [LON:OTMP] Onthemarket Plc share price was +5.5p at 85p

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