Property portal OnTheMarket has become the first major platform in the UK to introduce AI technology to support property searches. The company has integrated a new property search assistant called Otiem which incorporates AI natural-language technology. Otiem allows users to enter their property search criteria in the same way they would describe it to an agent or friend, without manually filtering each requirement. For example, users can search for three-bedroom houses in Brighton up to £650,000 with parking and a garden, and Otiem will match the criteria to existing filters and present properties that best fit their needs. The AI assistant was soft launched in early July and is now officially live.
In addition, OnTheMarket is developing iOS and Android apps that will allow users to speak their property searches directly to Otiem on mobile devices. This enhancement aims to make the property search experience even more convenient and intuitive for users.
OnTheMarket is also introducing AI-powered tools for agents to make creating property details faster and easier. The AI assistant can quickly extract features, fields, and room names of a property from a pre-existing description on an agent’s website. This saves valuable time for agents when entering the details of a listing. The assistant can also generate property descriptions from scratch using a summary list of features and details entered by the agent. Agents can accept, reject, or edit the generated descriptions to suit their preferences. These AI-powered tools for agents are expected to be live in the coming weeks.
Jason Tebb, CEO of OnTheMarket, commented on the introduction of AI technology, stating that the company is proud to be the first major UK property portal to incorporate AI natural-language technology to enhance the search experience for consumers. He added that Otiem will allow users to have more time to spend looking at properties, making the property search process fun and easy. Tebb also emphasized that the AI-powered agent tools will enable agents to work more efficiently and save valuable time in their day-to-day interactions with the portal.
OnTheMarket, a leading UK residential property portal provider, aims to deliver an agent-backed and tech-enabled portal that offers a first-class service to agents and new homes developers at fair prices. The company provides agents with the opportunity to participate in the equity value of the portal, displaying exclusive properties to serious property seekers. OnTheMarket’s objective is to become the go-to portal for property seekers and create value for its shareholders and customers.
As OnTheMarket continues to innovate and leverage the latest technologies to improve the user experience and the working lives of agents, the company looks forward to announcing future developments. With the introduction of AI technology, OnTheMarket aims to take property searching to a new level of convenience and efficiency for users and agents alike.
