Boomin has revealed its launch date after months of high-profile publicity.
It’s to be three and a half weeks from now on Friday April 2 - that's Good Friday, the start of the four day Bank Holiday weekend, and the beginning of the stamp duty holiday extension period.
On that day there will start what the portal calls “a compelling and highly engaging advertising campaign across all media channels” including radio marketing, prime-time TV slots on Channel 4, ITV and Sky, plus social media promotions.
Over the next three years the portal pledges to spend £50m on marketing “to create a household brand in near record time.”
It says: “Agents will benefit from a sustained, entertaining and effective campaign.”
A statement from the portal says it’s attempting to ‘onboard’ as many agents as possible by that time; already it has some 5,000 branches as founder members, including several announced this morning. Today's recruits include Greenslade Taylor Hunt, Portico, McCartney, Hackney & Leigh and Edward Mellor.
Founder and executive chair Michael Bruce says of the new portal: "We need agents to make a positive choice and work with us to reset the balance of power for them in the industry. The pips are already being squeezed by Rightmove and, if left unchecked and based on past experience the vast majority of agents will be paying 60 per cent more by 2024.”
Bruce already appears to dismiss OnTheMarket as serious competition when he says: “The portal duopoly is one of the biggest financial and structural challenges agents face and together we can create meaningful change and secure a brighter, fairer future. Boomin has amassed a world class team, 160 strong and growing to achieve its goals.”
He continues: “Boomin offers fair and transparent fees for all. A broader model, with multiple income streams and the specific aim of returning more money to agents than they pay over in fees.
“Our success will be predicated, not just on our superior technology but also our ability to drive consumer awareness and adoption. To this end we have a £50m plus advertising campaign over the next three years primed and ready to go from April 2.
“We are not just trying to build a credible alternative to Rightmove, we are determined to change the centre of gravity, where more of the power is held by the agents and the rewards more equally shared. The portal of the future will go way beyond a classified advertising model and Boomin will spearhead that change.”
This is what we know about Boomin:
- It’s been developed by Michael and Kenny Bruce and David Shepherd, who previously launched Purplebricks in 2014, with the aim of changing the way people buy, sell and let residential property;
- It promises to be the first ‘property portal for the home’ with a deeper offer for both customers and estate agents;
- Early trade publicity claims it will be more than just a classified listings site that generates leads. It says: “The proposition is focussed on opening up the property market, new ways for agents to engage with customers and new services centred on the broader home that will benefit people and provide additional revenue generating opportunities for agents”;
- It is Birmingham based and has 160 staff, over 100 of which are on the technology side;
- Boomin says it “embraces the rapid technological developments of the past 20 years [since Rightmove launched] like no other and originates a fresh business model based on new and multiple income streams, that opens up the market to more transactions and enables agents to build long term relationships with its customers that last far longer than the transaction itself.”
Here’s the website.
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Wow one to watch....don't pay them anything.
It will be interesting to see if any of the knowledgable tech heads review and see feedback on why it might be better.
I for one am always keen on what's in it for the guy who pays the bills consumers not agents
Thats the correct attitude Angus! Let's give it a try as it's free . They say Leopards cant change their spots but at least give them a chance to try?
I feel badly let down by Boomin, had e-mail last night telling of the launch but we cannot take part because their technical wizards have not sorted out a way for non-CRM using agents to upload properties. Bitterly disappointing. With all the hard sell Mr Bruce, you should have made sure we could all participate.
The 100 technology staff doing wonders there!
Sorry to read
Im not sure who your CRM is but I have it on good authority and can quote...
"Boomin is receiving property feeds from all ZPG CRMs."
May i suggest if you have any issues with uploading you try and reach out to your rep
Ours is Helen Keenan and is very pro active
XML2U create feeds compatible with Boomin (RMv3 format) for those without a CRM or where the CRM insists on an excessive facility fee.
Fool me once, shame on you. Fool me twice, shame on me.
One thinks that ZPG are blocking the CRM feeds after all they do own the majority, this is where it gets interesting another fight with ZPG, I've heard the costs involved are horrendous and they won't allow real time uploads which will make it Boomin a poor relation in the Portal world. Oh dear.
Good for ZPG that an intelligent business strategy is paying off.
I have it on good authority and can quote...
"Boomin is receiving property feeds from all ZPG CRMs."
May i suggest if you have any issues with uploading you try and reach out to your rep
Ours is Helen Keenan and is very pro active
XML2U create feeds compatible with Boomin (RMv3 format) for those without a CRM or where the CRM insists on an excessive facility fee.
They've had tech problems galore so far, so make sure your safeguards are in place.
Finally a date! I'm still amazed at the short memories of some agents who are now backing a portal run by a pair who endlessly slagged off the traditional agency model for years. Is the hatred for Rightmove that deep?
I expect it will be OTM, and not Rightmove or Zoopla, who will be the biggest losers from this launch. RM and Zoopla will continue to be 1 and 2 as before.
The only losers will be the Agents..
The poll says it all.
Boomin's £50m marketing budget sounds like a big number, but £17M PA isn't enough on it's own, if you are only adding bells and whistles to the consumer experience. It is enough, to create an amount of noise for your IPO and keep the show on the road until the founders can exit though!
Read more... linkedin michaelrileyux
What ever you say or feel about the Bruces or Boomin, their generosity cant be faulted. Kenny just donated to my Just Giving, Easter Egg delivery just giving page for NHS without any request. Thank you Kenny!
Generosity made possible from the millions they made misleading people with PB. Never forget that Murray!
I’ve looked into my crystal ball and I saw the word SPAC floating up from the ether. What do you get if you cross carboom with Boomin, carboomin of course, boom boom(in)
So how many ubs is otm after years.
They might get to a mill.
Fraction of z and rm
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