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OnTheMarket (OTM) 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 OTM’s core platforms, joining TecLet and TecCRM, which are already in operation.
Consumers, whether they be buyers, sellers, landlords or tenants, will be able to use the platform to bring automation and 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 include 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 could potentially 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.
TecHub will also offer agents access to 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, CEO of OTM, said: “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 an agent’s potential revenue in the process.”
Alan Blockley, of OTM Software, added: “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 TechHub 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. TechHub 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.”
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