Boomin launches ‘unique’ tech to stop chains falling apart
Called Chainmaker, it invites buyers to register their interest in a property SSTC, lining them up should a sale fall through.
Boomin has launched its latest service which it says will help agents prevent sales falling through and help them acquire ‘hot’ vendor leads.
The unique software has been developed in-house to address the problems and costs associated with the breakdown of a chain, which affect between 25% and 32% of sales.
“ChainMaker goes to the very heart of what we are trying to achieve as a business; using technology to re-establish the direct connection between local agents and customers, whilst providing support and a boost to housing market activity levels,” says Michael Bruce, CEO and founder of Boomin.
It tech enables buyers to register their interest in properties ‘sold subject to contract’ in the same way they did directly with agents before property portals existed.
Then, should the chain be put at risk following a buyer withdrawal, the agent has a ‘readymade digital hot box’ of motivated buyers from which they can draw upon to fix the chain, avoiding the usual delays, disappointments and costs of a collapsed chain.
Tough call
Gareth Overton, Head of Residential Sales at Henry Adams who as an external member of Boomin’s Strategic Board has had early sight of the latest innovations, says: “ChainMaker will help sellers and agents alike – it’s always a tough call advising a vendor that their sale has fallen through, [so] imagine being able to say you have a long list of potential buyers ready and waiting to get the sale back together.”
Mark Brooks, CEO of Kent agency Miles & Barr, adds: “It is a great idea for agents to have a list of buyers waiting in the wings.
“ChainMaker should also bolster stickability amongst those buyers who for whatever reason are starting to waiver by creating additional demand that we can leverage off.”
