Apr 07, 2022
4 min read
We're pleased to confirm that we have commenced the move from a free to a paid for platform, and announce the first ten of the many leading agents who have already signed up. Our programme of agent sign up meetings is continuing and as a result, there will be further announcements coming shortly.
First wave announcement of leading regional agents signed up:
We launched in April 2021 with the support of a record number of agents, and since then we've achieved a further 50% increase in agents joining the platform. In year one, we have introduced new and unique features to the market which seek to generate higher quality business for agents, increase transaction volumes and draw more people into the market. Agents can now engage directly with customers through features including SmartVal, MatchMaker, Secret Property and Sneak Peek, protect transactions through ChainMaker whilst also retaining the income from mortgage referrals thanks to MortgageMaker. What is more, Property Playground and Priorities provide agents with the opportunity to earn additional income and build deeper relationships with customers that live beyond the property transaction itself.
And it’s working, with momentum continuing to build at pace:
Those agents signing up to Boomin will have the commitment of a competitive fee, which covers all of the unique features of the platform, free from extra and hidden charges, as well as pricing certainty. Agents will also receive ancillary revenues generated through Property Playground and Priorities and for the first time will retain mortgage referral income, which Boomin estimates to be a £50m opportunity for agents, which until now has been pocketed by the other portals and the banks and building societies they have sold the leads to.
Agents will also receive free shares in Boomin to ensure that they benefit from its growing success. As part of our commitment to long term relationships with our agents we have put aside tens of millions of pounds of founder shares and additional shares for those who sign up.
Simon Gerrard, Managing Director of Martyn Gerrard said
“We are very keen to work with Boomin as we can see it is unlike the traditional property portals. Boomin offers a range of features such as Secret Property and ChainMaker, which we believe will become real game-changers. The demands from the public in the property market have become more nuanced, the features and tools Boomin offers allows an experienced and proactive agent the opportunity to build and put together sales, rather than just waiting for them to drop in their lap.
We are looking forward to the advantages Boomin will give us in this challenging market as we believe it will give us a big advantage over our competitors and give the public the tools and features they need.”
Nic Budden, CEO of Foxtons said
“Our strategy at Foxtons is to provide customers and clients with the best service possible. This is underpinned by data science that pin-points their requirements, and then delivered by talented, committed people, and supported by smart technology. Foxtons’ investment in Boomin delivers all these things – Boomin has identified core customer insights and behaviours, and are developing unique, innovative features to meet them. Their evolving tech stack delivers a far superior product suite than is found elsewhere, which works for both customers and agents alike, and across a wider scope of the whole home-moving process. Boomin has delivered on its first year objectives, and is rapidly growing its base of agents with strong, collaborative account management, so we were happy to invest again to support its continued growth in 2022.”
Robert Scott-Lee, CEO of Chancellors said
“We want to be at the forefront of innovation and it is clear to us that Boomin is constantly striving to think of new ways to drive more transactions and to build engagement between agents and home-movers. We think Boomin will be a significant contributor to future business as awareness builds and features mature. Securing more instructions, making more sales and lets and getting more ancillary revenues will be crucial in the market going forward and we think Boomin is becoming ideally positioned to be a significant contributor."
Robert Sargent of The Acorn Group said
“Working with Michael, Kenny and their wider management team has been a very straightforward process. The tech Boomin has developed, and in particular, the nurturing approach to prospective buyers and sellers has borne early fruit in terms of fresh new quality leads. We believe Boomin's strategy of trying to reach prospective clients at the earliest stage of their moving journey and encouraging them into the market is not just hype. With features such as Sneak Peek, SmartVal, MatchMaker, Secret Property and Property Playground Boomin is clearly trying to differentiate itself from the more traditional portals, and with its significant ongoing investment, The Acorn Group looks forward to them continuing to shake up the sector whilst placing agents at the heart and giving them fair value.”
Michael Bruce, founder and CEO of Boomin said
“We are excited by the quality of agents who are choosing to be at the forefront of innovative change with Boomin. We firmly believe that it is our responsibility to build technology for agents that creates more transactions, drives more revenue and gives them and their customers a better experience. Property portals need the oxygen of a live listing to be remotely effective and therefore in a low inventory market are highly ineffective. Agents are choosing Boomin so they can access SmartVal, Secret Property, Sneak Peek, MatchMaker and MortgageMaker, all of which operate to create transactions without the oxygen of a live listing and ChainMaker saves transactions and creates more. We are delighted to invest in those agents who choose Boomin as a key part of their lead generation. We will deliver increased business for agents and more technology for a single low fixed cost. Watch this space for more innovation for our agents and more agents signing up to a brighter future.”