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LAUNCH: OTM reveals landlord lead generator for lettings agents

Rental estimator has been developed exclusively with Property Price Advice to generate enquiries to agents.

Nigel Lewis

landlord lead avm otm

OnTheMarket (OTM)has launched a lettings Automated Valuation Model (AVM) tool for landlords and home owners to work out how much a property could rent for.

The new tool, which is a landlord lead generator for its subscribers agents, has been developed with Property Price Advice, which also provides OnTheMarket with its residential sales AVM.

Link to Proptech NewsOTM CEO Jason Tebb (pictured) says the lettings AVM was developed as a direct outcome of agent feedback during the ongoing and ‘Town Hall’ sessions which have been running since April 2021.

Designed to help agents mitigate the chronic shortage of PRS stock in many areas of the UK, after nearly six months in development and testing, the Beta version of the Lettings AVM has now been released live for consumer use.

This means OTM is now on a par with Zoopla, which also offers consumers online rental value calculators, although OTM’s is arguably more sophisticated because it offers annual yield estimates.

peter sherrard property price advicePeter Sherrard (pictured), MD of Property Price Advice says: “The algorithm powering the OnTheMarket lettings AVM has been developed exclusively for OnTheMarket and is re-calculated and updated monthly by our econometrics team to reflect market dynamics, as well as using live data to deliver optimum results.”

Tebb, adds: “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.”

April 12, 2022

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