Fledgling portal Boomin says its new SmartVal tool has received over 10,000 requests since launching in early September.
SmartVal is powered in part by The ValPal Network’s valuation tool, owned by Angels Media, publisher of Estate Agent Today.
Boomin claims SmartVal provides “a more accurate online valuation for visitors to the site with a mix of technology, data and timely interactive engagement with experienced local agents.”
Users on the Boomin website can request a SmartVal from local agents registered with the platform - those agents then have a strict deadline of 15 minutes to respond to the customer online.
Boomin says that on average, since launch, it took local agents less than seven minutes to deliver a SmartVal and less than 10 minutes before they were engaging directly with their active customer.
In addition, the number of in-home valuations booked directly on Boomin has risen by over 280 per cent in the same period.
“The continued month on month rise in unique visitors to Boomin has also stimulated close to triple the number of market appraisal bookings for agents in September, compared to August. Agents are also reporting unrivalled success in the quality and conversion of SmartVals” says a statement from the portal - although it has not provided specific figures to quantify visitors or appraisals.
Michael Bruce, Boomin founder and chief executive, says: “SmartVal has got off to a flying start and has exceeded our expectations, attracting over 10,000 requests in the first few weeks. It is delivering on its promise to provide more high quality instruction opportunities for our agent partners and drawing more people into the property market, with strong demand for SmartVals, alongside an increase of over 280 per cent for in-home valuations in the same time period. SmartVal is proving to be the most effective way for agents to get in front of sellers coming to the market and landlords looking for a great letting agent.
“As part of our ambition to open up the market, we will continue to analyse feedback from both agents and customers as we work on V2 of SmartVal and other innovative features of our platform, some of which are expected to go live in the coming weeks.
“We are the true home of innovation and the smart choice for agents, who are looking to reset the balance of power in the industry, something which in my mind is absolutely crucial for the future success of independent agents who are currently seeing uncontrollable and unsustainable demands from other portals on fees.”
Boomin also quotes Robert Scott-Lee, managing director of Chancellors agency chain, endorsing the system: “I have been impressed by both the number and quality of the incoming SmartVal leads in just the first few weeks.
“The Chancellor’s team has responded quickly to incoming requests and has already converted over 43 per cent of SmartVal’s into full in-home valuations and experienced 100 per cent attendance. SmartVal could be the innovation that unlocks market supply.”