OnTheMarket Launches New Lettings AVM Tool for Agents

British majority agent-owned portal OnTheMarket has launched a new automated valuation model (AVM) product for lettings agents.

The new tool will allow OnTheMarket's agent customers to estimate the rental value of a home and generate lettings leads from landlords in doing so. The data collected by the new tool will only be made available to the agent and will not be used by OnTheMarket itself.

The AVM was developed in partnership with specialist valuation and advice company Property Price Advice after feedback from agents at OnTheMarket's 'town hall' sessions. The new tool will complement the sales AVM tool launched earlier in the year which was also developed in partnership with Property Price Advice and which the company says has " consistently performed exceptionally well for OnTheMarket and has generated hundreds of thousands of leads".

Commenting on the development of the new tool, OnTheMarket's Jason Tebb said:

“During my recent Town Halls many of our agents expressed a need for more support on the lettings side of their businesses. We’ve listened and, working closely with our commercial partners Property Price Advice, we’ve developed this latest addition to our suite of online valuation tools that will generate a new type of lead for our agents.”

Hosted by OnTheMarket CEO, Jason Tebb at locations all over the country, OnTheMarket's 'town hall' sessions have gone down well with agents in an industry where face to face interaction is the name of the game. The sessions have led to several new tools being introduced by the portal.

The publicly listed portal company recently underwent a brand and site revamp which included the announcement of several new tools including: Wish List, Help Me Choose, Travel Time Search, and Street Search, as well as UX updates to Ask The Agent, Reserve Buyers List and Viewing Time Requests.