OTM allows ads for agents’ mortgage and conveyancing partners

OnTheMarket has become the first major UK portal to allow agents to promote their own revenue generating partnerships on listing pages.

Agents who purchase OTM’s Activator product can now have control over four pieces of OnTheMarket ‘real estate’ on each one of their listings. This allows agents - in the words of an OTM press release - to “unlock the possibility of generating additional revenue by showcasing their partnerships to consumers.” 

A full-length banner, a mid-page unit banner, a branded mortgage calculator and an additional ‘mortgage options’ link can now all be used to direct portal users 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 home moving, 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 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.

OTM claims that its member 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, and adds that the changes are aimed at making OnTheMarket a revenue generating platform, rather than just an advertising portal.

OTM chief executive Jason Tebb comments: “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.

“This is another step in our evolution towards becoming a ‘one stop shop’ technology company that provides services for agents and consumers, across the entire property ecosystem. We will continue to develop meaningful ways to facilitate consumer interaction opportunities for agents by providing tools to help make the home moving process easier and more straightforward. 

“Our goal is to help our agents expand their opportunities to grow their multiple income streams, making OnTheMarket a revenue generating platform.”