07 February 2023
OnTheMarket Software to launch agency automation platform with market-first Home Management tool
OnTheMarket Software, part of the OnTheMarket Group, is to launch a new estate agency automation platform which includes a first of its kind, Home Management tool, providing the potential for agents to tap into fresh new income streams and increase revenue.
Scheduled for launch in Q2 this year, TecHub will be the third of OnTheMarket Software’s core platforms, joining TecLet and TecCRM, which are already in operation.
TecHub has been designed to bring efficiency to the sales and lettings process for agents and their clients by streamlining workflows. Consumers, whether they be buyers, sellers, landlords or tenants, will be able to use the platform to bring automation and 24/7 transacting to agency businesses. Sellers, landlords and sales and letting applicants will be able to track the progress of their property transaction. This will allow each party to view updates, make decisions, provide information, upload documents in addition to making payments within and outside of agency working hours.
Once the property transaction process is complete, TecHub will revert to a new Home Management platform on behalf of the agent for the consumer, with the tool being made available later this year, following the first iteration of TecHub. The Home Management tool will be the first of its kind in the UK, with all actions, communication, documents and data from the original transaction, from the first point of contact, made available to the customer. This opens up the possibility of shopping around for various insurances, mortgage renewals or utility providers, with notifications and reminders sent to the customer at key moments throughout the lifecycle of owning the property.
The provision of extra services through the platform will also open additional avenues of revenue and passive income for agents through commission from post-transaction purchases. API partners chosen by agents will also be made available to consumers, where possible, to keep users within the hub ecosystem. The Home Management system ensures the agent is kept at the forefront of their clients’ minds when they come to sell, let, rent, or buy again in the future.
TecHub will help agents save money with several additional solutions, such as auto vetting leads, interactive sales progression tracking, a secure document management tool, engagement tracking and access to a BASPI and Property Information Form, to name a few.
Jason Tebb, Chief Executive Officer of OnTheMarket, comments: “This is not a direct to consumer solution, but a hub for agents and is therefore white labelled to increase the value provided to estate agency businesses using the product. The integration of our innovative new Home Management tool will, for the first time, give agents the opportunity to benefit from the many other property related services that arise after an initial sale on one single platform.
“By supporting clients in their post transaction property journey, agents could earn commission from relevant products and services at important stages in their lifecycle. Linking different parties together across the process will improve the customer experience and increase and agent’s potential revenue in the process.”
Alan Blockley of OnTheMarket Software, comments: “Many have tried to create similar platforms in the past, but the key barrier has always been the need to enter large amounts of data. Because TecHub already has all the required information relating to the transaction, the Home Management tool has everything needed. As a result, the customer journey will no longer stop when the sale completes, or the tenant moves in. TecHub will support agents in offering a suite of Home Management services that allows for a continuous nurture journey, reinforcing the agents brand and encouraging customers to re- engage with them when their next property transaction is planned.”
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.
About OnTheMarket Software
OnTheMarket Software, which is part of the OnTheMarket Group, provides a modular suite of CRM, sales, lettings, property management and client accounting platforms with all stakeholders in the transaction having access from any device on a 24/7 basis. OnTheMarket Software platforms automate the transactional journey through integrated APIs with key “best-in-class” partner suppliers, eradicating human error, enhancing compliance and improving the customer experience. The platforms help sales, letting agents and property managers increase revenues, save time, improve service and remain compliant. OnTheMarket Software also provides fully interactive website solutions for agents.
The suite of OnTheMarket Software platforms includes:
TecCRM: A white-labelled operating system for sales and lettings giving agents a full service platform, from listing properties all the way through to completion.
TecLet: A white-labelled customer facing, automated end-to-end lettings, property management and client accounting platform which operates compliantly 24/7.
TecWeb: A fully interactive website solution for agents that includes SEO and pay per click services.
TecHub: An extension of TecLet & TecCRM, allowing clients of agents to transact directly with the platforms, bringing automation and 24/7 transacting to agent businesses, including interactive conveyancing and sales progression. Reverting to a home management platform once a specific property transaction is complete, TecHub will enable agents to nurture and provide additional services throughout the duration their client resides at the property or throughout their ownership such as remortgaging, utility switching, buildings insurance, and lifestyle products.