OnTheMarket will tomorrow issue over 400,000 shares to agents who have signed new long-term listing agreements with the portal.
No details have been revealed as to the identities or numbers of agents involved but in the past year OTM has used shares as an incentive for agents - previously listing on discounted or free deals - to become customers paying at market rates.
This week’s give-away is thought to be the ninth of its kind over the past 15 months.
A fortnight ago the portal published more video testimonials on its website as part of its long-running recruitment push.
And at the end of last week OTM tweeted a sharply critical comment about Rightmove, in a message quoting the Surrey agency Grosvenor Billinghurst. It said: “Being hit with a 20% to 30% increase year on year from Rightmove was too much, the cost per lead was £150 to £160 and we started to think about how else we could spend the money.”
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More shares, further diluting the little value the existing ones have. Have agents not seen through this yet?
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