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OnTheMarket has become the first major UK portal to allow agents to promote their own revenue generating partnerships on listing pages, after updating its ‘Activator’ product.
Agents who purchase the product can now have control over four pieces of OnTheMarket ‘real estate’ on each one of their listings, aimed at unlocking the possibility of generating additional revenue by showcasing their partnerships to consumers.
A full-length banner, a mid-page unit (MPU) banner, a branded mortgage calculator and an additional ‘mortgage options’ link can now all be used to direct property seekers to an agent’s chosen ancillary revenue partners.
In addition to being able to use the product to promote their chosen mortgage broker, agents can also showcase other preferred partnerships related to essential products associated with the home moving journey, such as with other financial services and conveyancing.
OnTheMarket has negotiated deals for agents to secure their own mortgage and conveyancing partners where there is no existing relationship with a third-party provider already in place.
A consumer referral partnership was secured with London & Country Mortgages (L&C) in June, with the intermediary featuring in the available spaces on property listings for agents without their own preferred provider.
Likewise, if an agent does not have its own conveyancing solution, AVRillo Conveyancing will be recommended, after joining L&C last month as the second firm to feature on the portal’s umbrella brand, OnTheMarket Money.
OnTheMarket agents will be able to earn fees for any sale, purchase, or combined sale and purchase from their vendors or buyers that are referred to the legal firm in the near future. The award-winning legal firm will also provide consumers access to conveyancing services via on site placements.
The changes are aimed at making OnTheMarket a revenue generating platform, rather than just an advertising portal, to help agents expand their income streams.
Jason Tebb, Chief Executive Officer of OnTheMarket, said:
“We’re committed to ensuring our agents are at the forefront of everything we do in order to support their businesses with fresh and innovative solutions.
“The update to our Activator product gives agents more of a say over what appears on their listings, which is something other major UK portals either can’t, or won’t, do and it gives them much more control over how they promote their partnerships to nurture additional revenue streams.”
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