07 July 2023

OnTheMarket becomes first major UK portal to introduce AI technology to support property searches

OnTheMarket Group (“OnTheMarket” or “The Group”) has become the first major UK property portal to incorporate AI natural-language technology with the integration of a new property search assistant.

‘Otiem’ (pronounced oh-tee-em and a play on the company’s abbreviated name) was successfully soft launched at the start of July on the desktop and mobile browser versions of the portal’s buy and rental channels before officially going live. The intuitive AI assistant allows home movers to enter their searches in the same way they would describe their ideal property when speaking to an agent or a friend, without needing to manually filter each of their requirements.

Users could search for a “three-bedroom houses in Brighton up to £650,000 with parking and a garden”, for example, and Otiem will match the criteria to existing filters and OnTheMarket’s ‘Wish List’ sort function to present consumers with properties that best fit their needs.

To further enhance OnTheMarket’s innovative UX, consumers will be able to speak their searches directly to Otiem on mobile devices, through the OnTheMarket iOS and Android apps, which are currently in development and expected later this year.

For OnTheMarket agents, an AI powered assistant has been created for agents to make creating details faster and easier. Agents will be able to enter the details of a listing, which may be copied from a pre-existing description on their own website, and the AI assistant will quickly pull out the features, fields and room names of the property, which will then be presented to the agent in list form. Agents will then be able to approve or untick the features generated by the AI assistant, saving valuable time on each listing.

The AI powered property editor assistant will also be able to generate property descriptions for agents. Using a summary list of features and details entered, the AI assistant will create property descriptions from scratch which agents are able to accept, reject or edit once generated. If they prefer to use the assistant to improve a pre-written description which they may have already drafted, agents will be able to upload their descriptions for the AI assistant to edit. Depending on their style, agents will also be able to select whether they would like a neutral or creative tone for each of their property descriptions.

Both agent tools are expected to be live within the next few weeks.

Jason Tebb, Chief Executive Officer of OnTheMarket, comments: “We’re proud to be the first major UK property portal to leverage the advantages of AI natural-language technology to enhance the search experience for our consumers. Searching for your dream property should be a fun and easy process, and Otiem will help ensure users have more time to spend looking at properties. Once our AI-powered agent tools go live, agents will be able to work more efficiently and save valuable time on their day to day processes when interacting with our portal.

We’re committed to continuing innovating and we’re looking forward to announcing future developments as we leverage the latest technologies to improve our user experience and the working lives of our agents.”

Ends.

About OnTheMarket:

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, is a leading UK residential property portal provider.

Its objective is to create value for shareholders and property advertiser customers by delivering an agent-backed, tech-enabled portal, offering a first-class service to agents and new homes developers at sustainably fair prices and becoming the go-to portal for serious property seekers.

OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. Agent backing and support enables OnTheMarket to display Only With Us properties to serious property seekers either exclusively* or 24 hours or more before agents release these properties to Rightmove or Zoopla.

* Exclusive properties are properties advertised at OnTheMarket.com by customers who do not list their properties with either Rightmove or Zoopla.