Non-executive directors of Agents’ Mutual have voiced their support of the proposed flotation of OnTheMarket.
The four have been at pains to say that the float will still ensure that agent members remain firmly in charge, in line with the original principles.
Paul Smith, CEO of Spicerhaart and a non-executive director of Agents’ Mutual, said: “OnTheMarket’s announcement is fantastic news.
“We hope that the proposals – if successful – will enable OnTheMarket to remain a portal led by agents and allow for greater marketing spend which in turn should deliver significant consumer engagement with the portal.”
Paul Masters, group operations director at KFH, said: “We’re excited about the next stage of Agents’ Mutual and OnTheMarket’s growth. The fundamental principles behind the portal remain and we fully support the proposals being made.”
Trevor Abrahmsohn, managing director of Glentree International and also a non-executive director of Agents’ Mutual, said: “We strongly support the proposals announced by Agents’ Mutual to seek to float OnTheMarket on AIM and we hope that with continued agent control, OnTheMarket achieves its ‘disruptive’ objectives in challenging the status quo.”
Noel Flint, head of London residential at Knight Frank, said:“It is exciting to see OnTheMarket taking the next steps in its evolution with its announcement to seek an IPO.
“Agent ownership has always been central to OnTheMarket’s strategy, as it seeks to deliver fair pricing and promote agent involvement which are at the heart of what makes the portal work.
“We hope that an IPO – if successful – will enable agents on the OnTheMarket portal to have a stake in the business which should draw even greater support from the agent community.
“We very much look forward to being part of what should be exciting times for OnTheMarket.”