Both Purplebricks and OnTheMarket are keeping their powder dry on speculation that that hybrid agency is going to list on the challenger portal.
Industry speculation in recent weeks has suggested that an announcement may be made about the listing, pending the successful initial public offering of OnTheMarket on the London stock market.
Estate Agent Today has asked both organisations about the rumour, which has also featured in the trade press including agents’ comments left on EAT stories.
A Purplebricks spokeswoman said: “Purplebricks does not respond to speculation.” OnTheMarket has not responded.
The portal has until now banned online agencies - in 2014 OTM’s chief executive, Ian Springett, described them as “parasites” - but the portal will drop this ban, and its trademark one other portal only rule, when the IPO takes place.
Financial analysts told Estate Agent Today that Agents’ Mutual, the parent company of OnTheMarket, will want the launch on the stock market to take place only when the portal can show a substantial increase from the 2,700 estate and letting agency firms and their 5,700 branches previously listed.
Read more here
