Residential People, a free to list property portal, has confirmed that its new machine-learning platform, designed to help estate agents increase their market share, will launch next month.

The new platform, called nurturingAI, will look at lead enquiries that agents receive via their own website and the main property portals, including Rightmove and Zoopla, enabling them to run targeted marketing campaigns.

The nurturingAI platform will allow an agent to customise and target their marketing campaigns for landlords, renters, buyers or sellers.

Residential People Director Christopher May said: “The aim of nurturingAI is to grow agents’ market share by making the agents’ own website brand dominate in a local area, rather than a national portal brand being front of mind.

“Based on our projections, by giving agents exclusive marketing rights in a specified postcode area, they’ll be potentially able to command 60% of their market over the next two to three years.”

Residential People will work with partner agents and help to drive traffic directly from its site back to the agents’ own website using machine learning and AI capabilities that will nurture data across all omnichannel marketing funnels.

May added: “There has been a lot of press commentary on the fact that portals spend fortunes advertising their own brand, yet barely pay any attention to the agents who supply the properties.

“On average, agents spend around £2,000 per month on advertising via the major portals, and as an industry supplier, we feel we can slash some of these costs by over 75% with our new platform.”