OnTheMarket.com, the British property platform founded by the Agents’ Mutual cooperative, added some 250 branches to its client list. This is thanks to agreements with two leading real estate agencies, namely Chancellors Group and Hunters Property Group.

This is good news for OnTheMarket (OTM), which is preparing for its initial public offering (IPO) on the AIM market of the London Stock Exchange (LSE).

The float was approved by Agents’ Mutual members and rubber-stamped by the U.K. High Court in early September. No date has been announced for the IPO.

The Chancellors Group deal is a five-year agreement that will see Chancellors advertise all its residential sales and lettings properties on OnTheMarket and “actively promote the OTM brand with digital and branch-based marketing activity”, Property Industry Eye reported. The Group comprises 50 branches which trade as Chancellors; Anscombe & Ringland in London; and Russell Baldwin & Bright in Hereford and Wales.

Hunters is a York-based franchise with more than 200 branches. Owned by a Tory member of Parliament, it is already listed on the AIM market of the LSE. Its deal with OnTheMarket will see it advertise all its properties via the site and promote the OTM brand.

In a statement, Glynis Frew, CEO of Hunters: “We have long believed that agents and property-searchers would benefit from a strong pro-competitive challenger platform …. As a well-funded, agent-backed business, we see [OTM] as uniquely placed to grow to provide a credible market-leading platform.”

Both these agreements, it must be noted, are contingent on the float taking place. Their existence, however, increases the chances of it doing so successfully.

This wraps a strong month for OnTheMarket which, as we reported, signed a five-year deal with multi-branch agency Arun Estates in early November. These partnerships offer potential investors a reassuring counterpoint to news that rival Zoopla won back more than 1,000 agencies from OTM.

“I am very pleased that a group with the reputation, scale, and ambition of Hunters Property Group is committing to a strategic partnership with OnTheMarket,” said CEO Ian Springett.

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