Directly authorised brokers with The Mortgage Alliance can now become online estate agents through a partnership with property portal Home Searcher.
The tie-up means that TMA members can use the Home Searcher property portal to help their clients buy and sell their property online.
Brokers will be given training to use the portal to generate mortgage leads within designated post code areas.
They will also receive free first-time buyer and secured loan leads direct from Home Searcher when these leads appear in the specified post codes.
To use the service brokers have to pay an initial registration fee, which covers training on putting a property on the market, systems training and reviewing the sales process.
They will then have to pay a monthly subscription of £19.99 plus VAT which covers additional marketing material and sales and systems support.
Home Searcher will carry out all the negotiating between buyers and sellers and will complete all sales paperwork.
It also guarantees to pass on enquiries to brokers within 15 minutes of receipt.
Home Searcher charges vendors £29.95 a month plus VAT for three months, after which point properties will stay on the website free of charge if they haven’t sold in that time.
Phil Whitehouse, head of TMA, says: “I’m delighted to bring this exciting opportunity to the DA market as part of TMA’s growing intermediary proposition.
“I would urge brokers to move quickly on this as once a postcode has been snapped up it will not be available to another intermediary.
“The cost and conversion level of leads has become a growing problem in the intermediary marketplace and this partnership allows brokers greater control over their lead generation for a relatively small cost.”
Phil Shields, principal at Home Searcher, says: “As a product we firmly believe that its potential is massive and the benefits to the mortgage brokers seizing this initiative to be enormous.
“However, it’s vital to reiterate that business will not be generated by sitting back and waiting for things to happen.
“It requires a certain level of commitment by the broker but with this commitment comes the reward of running a highly successful property marketing company.”