OnTheMarket to launch third new PropTech solution

OnTheMarket’s software off-shoot - called, appropriately enough, OnTheMarket Software - is launching a new management tool that it claims is the first of its kind for the industry.

Its Home Management tool, called TechHub, will launch in the second quarter of 2023 and will be the third and final of OnTheMarket Software’s core platforms: the others, TecLet and TecCRM, are already in operation.

TecHub will streamline workflows and landlords and tenants, as well as sellers and buyers, will be able to use the platform 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.

TecHub will offer several additional solutions such as auto-vetting leads, interactive sales progression tracking, a secure document management tool, engagement tracking and access to new documents being introduced in the industry - for example, the BASPI and Property Information Form.

Once the property transaction process is complete, TecHub will revert to a new Home Management platform.

This will be the first of its kind in the UK with all actions, communication, documents and data from the original transaction, right from the first point of contact, made available to the customer. 

A statement from OTM Group says: “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.”

Jason Tebb, OTM’s chief executive, 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 an agent’s potential revenue in the process.” 

Alan Blockley of OnTheMarket Software adds: “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.”