OnTheMarket has this morning announced a new exclusive commercial partnership with Sprift, the property data specialist.
The relationship will enable OnTheMarket to provide its customers with free market appraisal guides which are powered by the Sprift platform via OTM Expert.
These can be customised by agents to include their logo and contact details and will contain a range of data including title plans, plot sizes, available broadband performance and mobile coverage, flood risk rating, Council Tax banding and costs, Listed status or relevant Conservation Area, Tree Preservation Orders and property EPCs, together with Unique Property Reference Number (UPRN) and Land Registry data.
Agents will be able to decide what information they want to include in their Market Appraisal Guide, providing them with control over content and allowing them to tailor the Market Appraisal Guide to the needs of each valuation. The functionality will be released to all OnTheMarket agent customers within the next six weeks.
Jason Tebb, chief executive officer of OnTheMarket, said: “Our agents have told me what they need and want from a portal, and what services and functionality would make a difference to them. I’ve said that I will facilitate change to benefit agents and consumers; this partnership is the start of that, but there is more to come and I look forward to sharing further news in the very near future.”
Tebb commented: “Providing enhanced data and market intelligence for agents was one of our key priorities for the first few months of 2021 and I’m very pleased that we’ve been able to secure this partnership agreement with Sprift and are implementing this functionality so quickly, meaning that we can support our agents in winning new instructions and give them an tangible advantage on valuations. I believe providing our customers with high quality, free and easily generated market appraisal guides powered by Sprift is core to our promise to support our estate agent customers and demonstrates our commitment to forming commercial partnerships with ‘best in class’ providers that benefit both our agents and consumers.”
He added: “Working with the Sprift team so closely over the past few months, we’ve been consistently impressed by their approach and ambition. We’re committed to providing differentiation in our product offering and this relationship aligns perfectly with our objectives. Alongside this we will continue with the on-going rollout of our ambitious roadmap of product and service innovations.”
Matt Gilpin, chief executive officer of Sprift, commented: “We share OnTheMarket’s vision for empowering agents via the use of property-centric data and it was clear from our first conversations that the ambitions of both companies are absolutely aligned. Armed with comprehensive property specific data, agents can demonstrate hyper-local market knowledge which can support with prospecting, lead generation and winning instructions. What’s been refreshing for us is working with another business that has the same appetite for innovation and growth and is committed to change and evolution for the benefit of estate agents and consumers alike.”
Comments (30)
Homesearch really missed a trick here…
This will change the mind of many agents and hopefully the 65% Agent owned portal will become 95% agent owned. OTM helping agents again and still being ridiculed by a couple, and only a couple.
Well done OTM true to your word “The Agents Portal”….
This was enough encouragement for me to sign with OTM again. Hoping to leave RM one day, and this is a step in my becoming brave enough
I left
Be brave
There are a lot of proptech companies out there …I think both agents and the the public could benefit from OTM grafting on a few more to engage the public.
I look forward to the day when another portal is seen by the public ‘as the best’ even if they dont have the full compliment of properties that RM has. Thats something to work with…..
Good move Jason.
This is great to hear! I have seen the way Sprift works and if it’s as good as what I believe it to be, it will be an absolute game changer for OTM. Really looking forward to trying this out.
Sprift is excellent, I use it and would have paid double the price they charge to use it! My issue is:
The problem now is your competitors (who use OTM) who couldnt be ***** investing in it, now have it…
So when you leave something from Sprift behind or promo your Sprift reports etc the potential client will have RM+ and OTMSprift stuff… forcing perhaps other agents to now find an alternative, as atleast 2 from 3 will be on OTM and 3 from 3 will be on RM, so what next to be different and ahead of the game.
I don’t think you really get it, your own admission is that Sprift is excellent and its 10x better than any other marketing tool available on any portal, whilst RM continue to fleece agents and OTM are actually helping them this is another opportunity for agents to leave RM for a more innovational portal that is 65% Agent owned this can tip the balance if you embrace it.
The valuation comparable information given by Sprift is basically information including pictures from Rightmove and Zoopla listings…(I use it!) so to put simply, OTM Valuation reports if they are to show 90% + of previously listed property (sold or not sold and archived etc) will show RM and Z listings. UNLESS they are going for a Text Only version of previously marketed property, or unless they are only reading OTM listings for the valuation tools… but then I can’t imagine they will be using JUST OTM info, as the reason OTM are using a 3rd party is they do not have the market share to warrant their own inhouse OTM BPG.
In theory, RM and Z data becomes VERY important to OTM for Sprift to work!
I really do get it, but I admit I am seeing a lower level of detail which is the concern…
As for embrace OTM – Give me a break HITMAN… i’ve embraced more than many in the past and own a fair few shares in it myself…
Perhaps though, I have missed something
I’m sure they don’t rely on RM and Z for data when its available through other means other appraisal tools seem to manage without them e.g. Homesearch get that from Land Reg. Agree for not sold properties however, they are not as important as sold.
it’s good to hear that you’re an investor OTM.
Okay, so I have no idea to be fair, just a simple view from someone who doesnt actually think ANY portal is here for us! Otherwise they would be free or 100% owned by us now! and look what happened to OTM V1 when it was 100% owned by us!
To create a nice “leave behind” if that is the intention, the data and content has to look good, and it may well be that OTM have their own input in how this information is drawn together and produced.
On Sprift, you curently, you have sold price info with either a Google Street View image (Not the best image to leave as marketing) or sold price info with the photo which was used on RM or Z… When using the interactive version, these link to the RM advert, which I can only imagine will NOT be used as part of the service, otherwise OTM are pointing people at RM. (I assume they will use their OTM property advert if also advertised online with OTM otherwise, you assume they will turn off the link)
Fact is; OTM will want ALL the current Under Offer property and Available property which is not advsertised on OTM in the report, otherwise OTM BPG still falls short of the 90% plus stock RM BPG shows. So unlikely OTM will say only link to stuff shown on OTM. (If they do, OTM BPG users are at a disadvantage when other agents say, why X hasnt shown you A, B & C as these are important properties to consider before listing) Whole of market needs to be available.
I use the system and can 100% say, currently active property which is Available or Under Offer is as important as “Sold” information in a market like this… half my “sold and completed property prices” are about 10% too low already after Q4 2020 and Q1 2021, so I don’t agree at the moment Sold/Completed property is as useful in the sense, UNDER OFFER property is more useful at present to show how that crazy asking price you have seen has still got the property sold, and that is around 80% of stock in my area.
As I say, Sprift is great and OTM have recognised this but they will definitely be needing to allow agents to benefit from showing currently marketed property (whole of market) and not just sold and completed… they need to arm agents with a BPG akin to RMs and basically Sprft uses the RM data to create the same level of content, otherwise 2 reports are required to show the client 100% of the picture.
I personally can only see the OTM BPG working if it shows whole of market content, something RM have been able to do, as have Sprift as they were not a portal, so now OTM will use Sprift to display the stock they are missing. Very clever, but actually strengthens the position of RM importance via Sprift.
What a shame… I liked Sprift for feeling like I had something the “portals” were not offering… now I feel like am using an OTM tool basically…
First step to acquisition perhaps.
Any Sprift Alternatives out there, as I am leaving OTM when my contract permits.
Checkout Homesearch
It might have similar information but it is not (checked with Sam this week) yet in a UPRN format that allows external integration. I have a multi office firm who want Homesearch integrated with r4 but it cant yet
Surely that’s a plus for Ric, he does not want it integrated with portals.
It might be, what OTM will be offering is a very limited version / part of the Sprift service…
If it is, then perhaps just maybe Sprift still has a place in my life!
That said, all this air time, will no doubt mean Sprift get a fair few enquiries about what they do and to be fair they would deserve the increase in business as a result.
Only interesting thing is, OTM BPG will be in theory using Zoopla &/or Rightmove data! as this is what Sprift use.
I want Ric to have his Sprift reports on his showcase, it’s the easiest way to solve CPR MI across the portals and social media. Two services working as one.
Homesearch are missing a trick both for them and their agents. As the NLC V Rightmove story let’s on MI on the portals is going to be a thing and at present to get Homesearch onto the portals in the same way as Sprift can via r4 showcase isn’t possible.
Biggest problem with KFBs etc remains the inability to list them online with the correct titles for the links. CRMs & Portals dont tally.
The links need to go in Virtual Tours links on our CRM which they are not, or you can shortcut around it and load manually on say RM as a “Property Information” using a manual facility in RM+ but again they then appear at the bottom hidden away, but I suspect the fact they link to another site will soon mean they don’t even allow that.
I just want our CRM system and the portals to recognise or allow changeable fields which can be titled as we want so a user is not clicking on a link and getting something they didnt expect.
The info remains great and the Microsites for interactive KFBs are amazing… but getting them to people isn’t easy unless you are just emailing links… which we’ve done.
Having monitored the clicks on them, I thought they were amazing, until I realised people were clicking expecting to see a Video Tour so people started to say, the video tour link is broke.
As a result, we stopped uploading them, and only send on request for more info now… as having info in the wrong place I felt was worse than having no info.
Ric
“First step to acquisition perhaps.”
When Jason Tebb has been fact finding I thought he might acquire something similar to Sprift subject to whats in the piggy bank….
And this passes for innovation?! Come on Jason, you’ll have to do better than this to keep up with the others. Adding ‘market appraisals’ is somewhat 1990s mate!
How does Sprift benefit from this?
A lot of customers all at once, it’s good for Sprift & makes OTM functionally closer to Zoopla.
This collaboration is a big win for Sprift and those who’ve recently taken a stake in the firm
In the portals war, OTM wheel out market appraisals. Wow, talk about bringing a knife to a gun fight
Forgive me but Jason Tebb just installed average speed cameras to a motorway. You have just highlighted a complete unawareness of what is going on around you.
On the market agents now comply more fully with CPR 2008 and are less likely to have conflict with consumers via their redress schemes than agents like you.
Plonking property on the portals with no regards for CPR is going to provide an absolute feeding frenzy for trading standards across the country and the redress schemes.
hit the dislike as much as you like ( might have to log in on another device or 10) it won’t alter the fact you are unaware of the product and how it benefits professional agency.
It’s ok to be a passive intermediary but if you want to be an estate agent and compare your fees to estate agent fees you HAVE to comply with CPR- this helps with that
Want to be positive about this but yet to see an online valuation get remotely close to being accurate
Think you may have got confused. It’s not an online valuation tool, it’s a market appraisal report generator for agents to use on the valuation. Similar to rightmove plus reports.
I agree and when I trailed it my prospective vendors were most impressed. Buyers liked it too.
Good experienced agents should not need any “tools” to help value a property. I know I dont and get it right a good % of the time
BUT we all need something that makes you stand out from the others and something impressive, along with your own brochure to leave behind at a valuation. Helps the vendors remember you over the others if you have gone that “extra mile”
Great new option Used Sprift before and its a great tool
Going in the right direction Jason…! Well done.