Advanced information released today about Boomin suggests it will seek a much closer relationship with agents than existing portals, with lifetime revenue potential.
In a briefing this afternoon the portal - expected to go live in the next few weeks, and free to agents until January 2022 - revealed a number of innovations not directly comparable with anything offered by Rightmove, Zoopla or other existing portals.
There will be a ‘sneak peek’ secret property element which means visitors to Boomin will not only see properties listed for sale, but also those instructed but not yet marketed, those in a chain and which may come back to the market if a deal falls through, and in some cases those currently being valued.
The aim is for prospective buyers not only to see properties that are on the market, but also those which have been on the market and are likely to come to the market.
There will also be a ‘matchmaker’ option for would-be buyers not only to search the town or neighbourhood they want to live in, but to nominate their chosen street.
By nominating a specific street, the Boomin portal wants to gather finer-grain detail than its rivals: once there is a critical mass of demand for a particular street, details of those potential buyers can be released to local agents who can either market their existing listings or have the information to encourage would-be sellers at those addresses to take the plunge.
Agents would not pay for those leads.
Prospective buyers will also be offered a so-called ’24-7’ service allowing them to book a viewing of a property on sale directly through the portal. It would not follow the established line of sending email leads from the portal to the agent, thus requiring the agent to then try to connect with the would-be purchaser the next working day.
Potential vendors will also be able to book valuations 24/7.
When customers whose properties have been listed on Boomin return to visit the portal at a later date, they will see their agent’s brand prominently. Boomin believes this provides the potential for those agents to have a continuing revenue-raising relationship with those consumers when they next buy.
A ‘Property Playground’ facility will allow prospective buyers or more casual visitors to Boomin who do not intend to buy, to look at other options - different utilities, lifestyle and design supplies, landscaping and other ancillary services.
Individual buyers who like an accessory in an image or a service shown in a video will be able to purchase it, with a form of referral fee for the agent if that customer is a registered buyer.
Promotion of Boomin is likely to major on TV, radio and street-based advertising, but with a lot of social media as well - there is likely to be substantial emphasis on YouTube in particular.
Boomin has been founded by Michael and Kenny Bruce, the brothers behind Purplebricks.
The new portal has so far revealed 30 agency backers including Humberts, Newman Property Experts, Hunters, Keatons, Hurford Salvi Carr, MyLondonHome, Venmores, Nock Deighton, Alexander & Co Group, and Linley & Simpson.