OnTheMarket has announced that OnTheMarket Software – formerly known as teclet – is to cease operating in 2025.

OnTheMarket, when agent-led, made high profile announcements about its software services back in 2022; now, under the ownership of US -based multi-national Co-Star, there appears a change of emphasis.

Teclet was expanded from a single service to a series of tools and automated lettings software. It was an automated pre-tenancy and property management platform which used to work as a standalone solution or be integrated with sister services TecCRM and TecHub.

The platform claimed to provide “a complete end to end solution that manages all pre-tenancy and property management tasks through automated workflows and processes and facilitates all providers and solutions of an agent’s choice in a single integrated environment to aid efficiency and interactions between the agent, tenant, landlord and guarantor 24/7.”

TecCRM was built to work with various integrations that accounts for sales, lettings, client accounting and property management systems; TecHub was an extension of TecLet; and TecWeb was aimed at selling content to agents for their websites.

A letter to agents is reported to have said: “OnTheMarket Software began its journey in 2015 as TecLet, with a clear vision to revolutionise the estate agency industry using cutting-edge software. Recognising TecLet’s potential, OnTheMarket acquired the business rebranding to OnTheMarket Software in 2022. 

“Since then, we’ve expanded our offerings and continued to build on the strong foundation laid by TecLet, providing a comprehensive suite of tools to support estate agents like yourself.In December 2023, OnTheMarket was acquired by the CoStar Group. Following a strategic review, the difficult decision has been made that OnTheMarket Software will cease operations on 30 June 2025.”

A spokesperson from OnTheMarket said: “Following a strategic review of our business, the difficult decision has been made that OnTheMarket Software will cease operations as of 30 June 2025. All contracts will be fulfilled, and the team will continue trading as normal until then. We remain committed to ensuring this transition is as seamless as possible for our agents.”