OnTheMarket is holding 20 regional meetings this month to tell its members about its plans for the future.
Chief executive Ian Springett yesterday told agents that there were “substantial new plans” to support the development of the portal. These could not be finalised pending the outcome of the litigation between OTM and Gascoigne Halman, but Springett said: “We are now ready to share them.”
He added: “Our aim is to gain Members’ support for the new plans and be in a position to implement them as soon as reasonably possible.”
In yesterday’s email, Springett also thanked members for their “strong support during what has been a challenging period”.
Separately, accounts for Agents’ Mutual, which runs OTM, show that revenue for the year until January 31 was £17.8m, unchanged from the previous year.
Litigation costs were offset by a reduction in marketing spend but the report does refer to “management distraction”. There was a pre-tax loss of £2.5m.