OnTheMarket plc (LON: OTMP), the agent-backed property portal, has today announced that its Market Appraisal Guide tool is now available for agents to use when preparing appraisals for current and prospective new clients. The new tool sits alongside the existing reporting tools which provide property search, viewing and leads performance data at group, firm, branch and individual property level.
As with the ‘Best Price Guide’ currently available within ‘Rightmove Plus’, OnTheMarket’s Market Appraisal Guide enables its agents to access sold prices, comparable properties, local information and maps and create a report for vendors and landlords which carries their own branding in conjunction with OnTheMarket’s. The tool is included with agents’ listing fees at no additional cost.
The new tool has been beta tested with OnTheMarket member agents and refined in line with their feedback. We are now broadening access to this beta version to all member agents.
The introduction of the Market Appraisal Guide is intended to help OnTheMarket agents reduce their reliance on Rightmove and other portals. By using it with vendors and landlords, they will be reinforcing OnTheMarket’s brand and encouraging them to use the website, which in turn will help the agent-backed portal succeed.
Another step towards matching Rightmove’s core agent products set
Rightmove’s agent product set currently includes ‘Efficiency Tools’, such as the Best Price Guide and their ‘Intel’ market intelligence reporting, which are included in subscriptions, and ‘Additional Products’, such as on-site display advertising, direct response activity and property listings promotions.
Over the coming weeks, OnTheMarket will progressively introduce a range of products which will aim to match the core agent products currently available from Rightmove. The market intelligence product will be included within listings fees whilst the additional products will be available to purchase on a “menu” basis. As with OnTheMarket’s listing fees, the prices for additional products will undercut Rightmove’s standard tariff and they will be offered in a manner consistent with the Company’s commitment to fair and sustainable pricing.
More announcements will be made when the next new products are ready to be launched.
Ian Springett, Chief Executive Officer of OnTheMarket, said:
“We’re very pleased to be launching this guide, which is in line with our strategy to broaden our range of back office tools. We continue to look for ways to innovate and improve our offering to agents and property-seekers.”