Boomin reveals first ten agents to pay for its service (and get shares)

Boomin has begun efforts to persuade its 8,000 agencies to move from ‘free to fee’, announcing the first ten large regional firms to have agreed to pay for its services.

These are Acorn, Andrews, Balgores, Chancellors, Douglas & Gordon, Foxtons (which has invested in Boomin along with Channel 4 and recently bought D&G), Hammond & Stratford, Keatons, Martyn Gerrard and Pacitti Jones.

Their deals with the portal include all its features as well as shares in the company in a similar deal offered to agents joining other portals, including most recently OTM.
Boomin has also committed to offer a ‘competitive’ fee and not charge agents extra for ‘add-ons’ as Rightmove and Zoopla do.

“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,” says founder Michael Bruce (pictured).

“Property portals need the oxygen of a live listing to be remotely effective and therefore in a low inventory market are highly ineffective.”

Robert Sargent (pictured), who was an early back of the portal and leader of the #saynotorightmove campaign, and who is chairman of the Acorn Group, says: “Working with Michael, Kenny and their wider management team has been a very straightforward process.

“The tech Boomin has developed, and, the nurturing approach to prospective buyers and sellers has borne early fruit in terms of fresh new quality leads.”

Robert Scott-Lee, CEO of Chancellors, adds: “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.”