How is the Marketplace going to work?
It’s going to be very similar to Amazon, in the sense that any supplier can list their product for sale in a marketplace where the customer, in this case small residential agents, can buy or sign up to any supplier product or service in one place, with a single payment facility, and a single monthly bill for all their subscription services. A marketplace commission will be applied to your sales, depending on what type of product you are offering.
What information is going to be transferred via the API?
Whatever the agent wants or needs to be transferred in order to “connect” to a supplier product or service. As a supplier you have complete control of what information you send to the agent via the Marketplace, and if you need agent data sent to you, again, you can control which fields are sent as part of your set up process. In all cases, the agent, your customer, will have to approve what data is being sent, or, in the case that you are sending information to the agent, you will have total control over what that is.
Where does the information go and what data security measures/processes are in place?
BestAgent Marketplace will contain more residential property market data than anything to date. Much of this information will be personal and sensitive, so GDPR rules apply. The platform is built on the most advanced technology currently available, namely a Serverless application architecture, with microservices and multiple authentication requirements. Full technical details of the security measures in place are available on the Supplier Dashboard. BestAgent Marketplace is already the most secure technology in the industry.
How is it all going to work and what the user journey is going to look like?
BestAgent Marketplace is free to use for Agents. Any single branch agent can create an account in seconds from any device, and immediately have access to all its features. The approach for agents is, One Login, All your Suppliers. Once they have created an account and activated it with their live data, they will have access to their “Marketplace Suppliers” page. Put simply, this is a list of all the supplier companies who have connected their products to the Marketplace, where agents will be able to sign up to your service there and then, and be instantly connected, where possible. In the case that your service requires some manual configuration your side, the agent may have to wait for you to complete that. But, in line with how the rest of the world works, we will be prioritising suppliers who can make the sign up process to their product completely automated.
How do we price our products?
It is entirely up to you what you charge for your products. You will be required to publish a “Marketplace Price”, which will only be viewable to agents who have active accounts. You will also have access to a Billing Administration panel on your supplier dashboard where you will be able to apply individual discounts to individual customers at your discretion. In the case you have more than one product, you simply apply this process to each product separately.
What volumes are expected in terms of new customers? (prioritised correctly)
We will be phasing the release to control the quality of the user experience. To begin with, we will select one agent who has expressed a desire to use your product, for live testing so we can all be sure that the connection works as it should for all parties concerned. When that is achieved for all suppliers, and once the Marketplace is fully populated with supplier products that allow genuine one-click sign up, it will be opened up to the entire market of 15,000 or more small agents. How many customers you win through it will be entirely up to you!