Agents who sign up to use Boomin are to be charged between £150 and £400 a month per branch depending on their location and type of business, the yet-to-launch platform has revealed this morning.
Agents who sign up now will get to use it for free for 12 months, after which the fees will kick in which will be as follows per branch, per month.
- Sales only: £400 (London); £300 (outside)
- Sales & Letting: £499 (London); £399 (outside)
- Lettings only: £250 (London); £150 (outside)
But ‘founder agents’ who sign up before its launch will get to use the site for free from when it launches until January 2022.
Also, Boomin will take a cut of any income earned by agents from its marketplace, which will be zero for up to £249 a month and then, in increments, up to £150 if they earn over £800 a month.
Bruce (pictured) has confirmed several other aspects of Boomin, including that to claim founder agents status agents must have their stock on Boomin by its launch day. Agents who join after that as-yet unspecified date will pay more.
He also says there will eventually be a ‘maximum’ level of stock per branch or branch equivalent and that its fees, like other portals, will vary depending on size of stock.
“We will be fair and take an average of the agent’s total stock and divide between the branches,” he says.
Asked whether he would be putting up fees ‘year after year’, Bruce says: “Any increase in fees will always be based around fairness and value.
“We have guaranteed to founder agents that there will be no fee increase before the 1st January 2023 and only then if we have made them more revenue than they paid in total for their business during the prior year.”