Boomin has announced plans to launch what it claims will be ‘the most interactive and accurate online valuation tool on the market’.
The tool, which will be free to all agents signed up to Boomin, will form part of a marketing campaign to run from September, which aims to capture the data of homeowners, including those looking to potentially sell or let their property now or in the future.
Boomin claims that 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’.
Visitors to the Boomin website will be able to request a SmartVal with local agents registered with the platform.
According to the information provided by Boomin, agents will have a matter of minutes to accept the valuation request or lose out to the customer’s next choice.
Supplied with information from the property owner, and supplemented with detailed market data, the selected agents will have all they need to provide a valuation within a fixed period of 15 minutes.
Only once the SmartVal is submitted the agent will gain access to the full contact details of the customer.
Michael Bruce, CEO and founder of Boomin, said: “Once again we are leading the way, providing our agent partners with new innovations that seek to draw more people into the property market, create new business opportunities for agents and provide them with a competitive advantage.
“In the first of our new product launches, SmartVal combines data, speed and the expertise and insight from great local estate agents, to provide customers with the quickest, most accurate online sales and lettings valuation on the market.
“The technology has been designed in conjunction with agents, with agents at its heart. The aim is to increase online valuation accuracy, whilst placing more agents in front of sellers and landlords and reducing the barriers that some customers, who are yet to
decide whether to sell or let, may have in commissioning a full on face to face valuation at their property. Everything we have created encourages sellers and landlords into the market and agents into the living room.”
Agents will be contacted by their account managers with more information and to ensure they are ready to participate from launch later this month. The idea is to allow for a period of transition before comprehensive marketing begins.
Bruce added: “Boomin has the marketing firepower to support this latest innovation, which will feature prominently in a significant marketing campaign that launches in September. Another example of Boomin making good things happen.”
What next? Premium Listings?
Revolutionary stuff this mind
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I’m still waiting for my first lead from Boomin. Any lead is OK, maybe work on this first before trying to reinvent the wheel.
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So you get to provide a valuation on a property you haven’t seen with no opportunity to sell yourself, explain how you’ve arrived at that figure, what you have sold recently, who you have looking, register that vendor as a potential buyer etc etc etc. You have minutes to accept it so a good chance it will get replied to by an inexperienced member of staff. No thanks.
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Boomin??
Oh yes didn’t they launch a portal few months back?
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It looks like the only thing that makes it any more accurate is an army of agents doing desktop valuations on behalf of Boomin. Im struggling to see why we would want to introduce this as the norm. Boomin is basically taking credit for the valuation accuracy supplied by the agent…… definately not a massive trojan horse either
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That isn’t right , the agent provides the valuation directly to the client , Boomin simply connect the two parties and add a human (skilled element ) to the already well used instant valuation tools . The homeowner is talking to the agent not Boomin.
agents spend big money to get local homeowners to talk to them about a valuation and selling/letting
this is a simple way of connecting seller and agent and improving accuracy at the same time .
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How skilled and accurate is it going to be when the agency has 15 minutes to provide it ?
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A lot more accurate than relying purely on an instant valuation tool . I like the fact it bridges that gap between instant and personal valuation , I think customers will like and use it and once the connection is made the agent can build the relationship to a formal valuation and beyond .
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Then why not just pass the valuation lead to the agent. Creating a false time pressure to reply is not for the advantage of the agent Iain and I think you know that. To make you comment more accurate “Boomin simply connect the two parties….as long as they do it within 15 minutes otherwise they will connect the vendor with the next piece of meat in a suit who can give them some of their market knowledge for free”
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Because consumers often want quick, simple instant info , they do offer to provide a full valuation as well constantly throughout the customer journey on the site . A client might not want a full blown visit . This connects the agent directly to the homeowner why is this a bad thing . Once contact is made the agent can nurture the opportunity.
no lead or a lead to nurture , I know which I I prefer .
if I get no Val leads nothing lost , it’s boomins money promoting it not mine .
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Potential Vendor selects Joe Bloggs and asks for a valuation,
Joe Bloggs doesn’t respond in a matter of minutes Joe Bloggs loses lead and doesn’t look great to potential vendor.
Joe Bloggs doesn’t give the valuation in fifteen minutes and Joe Bloggs doesn’t look great to the potential vendor.
There is only Joe Bloggs junior neg in the office and they take a stab in the dark at the valuation, get it wrong and upset the potential vendor.
That’s why its a bad thing, it looks like Boomin have just come up with something to try to differentiate this from a Rightmove valuation lead without thinking it through. Far better to have the right person go back to the potential vendor with the right information to have the right conversation. No need for the artificial time constraints.
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You log in and out of the system , they remind you to do this (by individual or company or branch and auto log in log out but warn you when either event is happening and you can overide it . If you are really busy or have people away etc you simply log out and your brand isn’t offered as a choice .
if you don’t want the leads full stop you just log out permanantjy This Also deals with out of hours questions raised earlier.
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rubbish – people want an accurate valuation arrived at with thought not a quick answer
I am a housebuilder I do not expect a quick valuation I want an agent who thinks about it
I also want to ask the agents about their experience – the company – what they have sold recently etc
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So the thousands who use instant valuation tools every day feel differently , they are customers as well .
many want (initially) quick simple info , hence the popularity of the online Val tools , those who want a full on Valuation will ask for one anyway.
this just gives an opportunity to connectearlier in the processwith those doing their homework and research .
for me the earlier I can make that connection the better
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I honestly did not think there could be a bigger flop than OTM then Boomin came along and asked me to hold their beer.
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What makes you say it’s a flop , traffic growing , only portal with a growing inventory , agents sign ups steadily increasing , leads especially valuation leads steadily rising and quality is very good . Agents fully working with their account manager generating good instructions via Sneak Peek and matchmaker .
knowing your stance is negative I doubt you are on Boomin to directly assess it properly and give an objective view . it’s still very early days and they have a lot of work to do but not sure your description is accurate or based on any real understanding of the numbers and results thus far .
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What happens when someone requests a val at 2am in the morning? Does the 15 mins window still apply?
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Agents are auto logged out and reminded of this (can overide) out of working hours so the client typically would see no agent available to select .
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I also await a lead of any description. I also wonder if Boomin think agents have a bank of valuers sat at desks just waiting to respond (within 15 mins) to a lead. I am just prepping for today’s 3 vals which will take me about 1.5 hours in order to go in well prepared.
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There is no obligation to reply to the lead , if a valuation request came in from your website or portal/social media though during normal hours , i assume it’s replied to ASAP and hopefully spoken too and booked in etc. What’s the difference ?
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The right person responds to it with the right information to hand.
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you could I assume do the same with these leads ? if your work load prohibits that , log out so the leads won’t interrupt you and the client making the request doesn’t see your brand at all whilst your too busy to reply quickly and log in when your diary is less stressed . interestingly reading the thread is the 15 mins the real issue , if that was longer wouid that be preferable ?
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More FOMO pressure from Boomin’ – it’s lucky there are organisations like Agents Together to support stressed EA 🙂
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Great comment, @Ostrich17!
The two things the Bruce’s are excellent at – FOMO and Agent stress levels, don’t worry they have us covered though all is good 😉
I can see it now …
”Wendy, how on earth did you miss that lead from Mr Bruce!?”
“I was on the phone, Steve!?”
”You realise Jones & Pimpleneck down the road have now got that lead!?? Karen! Karen!? Where are you, Karen!?”
*Karen heard scuttling off in the background, scared shi*less because she doesn’t want to sit waiting for the fifteen minute rule set down by the almighty Bruce.
Destress and never miss out with The Brucemeister General. Call 0800 ‘Boomin’ now and start your journey on the wild side.
#justsayin #ThisIsDefinitelyNotAnAd
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Let’s be honest, time kills deals. Liking the way this encourages agents to respond quickly to the consumer in order to promote better engagement and higher conversion rates. Nice
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Like a lot of what they’re offering, agents should tread carefully. While the idea of putting a human at the heart of a valuation has merit, what does starting a countdown do except create a race between agents for Boomin vals? Are Boomin working for the agent or is the agent working for Boomin? I don’t trust these guys…
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I don’t like thish cat, he readsh minds…
Credit: Sid the Sloth
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It’s a lead you can reply to or not it’s your choice , but if they create consumer desire in this halfway house between unmanned instant valuation tools which most agents now provide and use to great effect to generate valuation requests and a full blown physical or virtual valuation request then the lead opportunity will flow . Surely it’s about providing what the customers want and I can see this being popular with them. Quick no hassle and a step up from a pure instant valuation tool . If the lead source is good work it , if it isn’t or you don’t want this sort of lead ignore it . It’s Boomin promoting it at their expense to get you an opportunity . What is the agent losing ?
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The agent is losing time, Ian. Valuable time. Having to wait for the ‘one lead that’s decent’ would require someone to monitor constantly as you only have fifteen minutes to respond!
Appologies, as I may have have missed something and I don’t always keep up with every bit of news, but what connection do you have to Boomin as you’ve made quite a few replies in defensive of them here, do you need to declare an interest?
Anyway, all of this is irrelevant. Let’s not forgot peeps you did perfectly fine without Boomin before. Carry on! 🙂
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Just log out to make your brand invisible ? If logged in the system tells you the opportunity has arrived , you don’t all have to wait by the PC monitoring it .
maybe 15 mins is too tight I can see that to a degree ?
I would want a RM Val request answered within 15 mins regardless if in normal hours .
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What’s the point of having the system if you’re logged out, Iain…?
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so you can decide if you want these leads or not , depending on your needs , team numbers and diary options etc. It’s your choice it’s only the leads your logged out of and one assumes you only log out if you know you can’t service the lead quickly and properly. if you think it will create good leads , nice problem to have , if you don’t think it will then it won’t effect you .
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Any member of staff can respond to a Rightmove val request as its a request for an appointment not a request for a valuation there and then. Big difference.
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So the issues are resources and or the time given to respond to the request.
these are only a problem if Boomin Create for their agents leads in volume . That’s their challenge at their cost .
nice problem to fornagwnts adapt with and resolve if you as me .
i do think 15 mins might be an issue but the concept will either create leads or not .
Surely agents would rather strategise how to solve how to fulfil lead requirements than strategize where to get more leads from ?
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The issue is I don’t want to email a ball park figure to a potential vendor, I want to go out to the property and sell myself and my company as well as carefully explaining the advice and figures I am giving.
Looks to me like the Bruce Bros still don’t understand what proper agents want.
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This type of lead opens the door to the full valuation there ote entire purpose
However if you don’t want this type of opportunity log out. You still get valuation requestsJust not the SmatVal opportunities .
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Why give potential vendors the choice, If you want a valuation get one of our agents out.
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Be good if Boomin actually generated a lead first before using some ridiculous FOMO move to launch an AVM that agents neither need nor want… I haven’t met anyone who has received a lead from them. But just to pick up on what’s been said above, when any supplier releases something new, there is normally a balance of views from the agency community. Iain White, who is apparently a paid consultant of Boomin, should remain impartial and not wade in and jump to their defence when other agents question – legitimately – what Boomin are launching.
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Maybe they should; just get some leads first ?
Just a thought
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Agents saying they are not getting leads.
TV advertising slowing down.
PPC seems to have slowed.
Now FOMO tactics by Boomin
Its a dog with fleas.
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When the first online valuation systems were released I pointed out the flaw in the base data; the Land Registry data set is junk- not fit for purpose. When I sent them the corrections they needed to make (120,000 of them) they first accused me of not understanding the data (but then had to apologise because I did) but it has now moved into their folk lore that I was the one who corrupted the data.
AVM’s cannot work, they are dangerous and misleading. The “they’re not supposed to be accurate, they’re a talking point, a way of starting a conversation” argument doesn’t wash with me- they are wrong. The outspoken shock jocks of our industry.
If those who published the random numbers were held liable and accountable for them they would very soon be taken down or suddenly become far better than they are.
If the duty of care and skill obligations of agency were applied to those who facilitate the lowest grades of agency, the passive intermediaries and internet lister agents, standards would rise and enabled competition would reduce
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I guess the answer is to accept the val Put in a high number Then contact the vendor and explain that this was a guess without seeing the property Arrange an appointment for a real val
Also agents will waste a massive amount of time doing vals for people who have no interest at all in selling
I will certainly try it and I have no interest in selling at all
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“with agents at its heart”… by gamifying them against each other? What other hoops will you have us jumping through for little to no leads?
Small agents won’t have a chance. Who has time to wait around for the once a month valuation lead apart from large agents.
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I’m only here for the comments…
God I wish people wouldn’t sit on the fence so much! LOL
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Well Boomin have certainly got a champion
One thing consumers definitely want is to be able to search for homes by street .Most of those who move locally know which streets they want to live in
They have gone to all the trouble to put up a “Matchmaking “service yet you can’t even undertake a basic search on that basis .Missed a huge trick which would seperate them from the pack
They have arrived with a lot of noise as only you would expect with those who launched Purplebricks but its not significantly difeernt to the others unless you want to buy some garden furniture
Talked a good game at Bricks and today the share price and inventory is languishing The rot had already set in when Vic arrived We all know who came out of that situation the best
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Hard hat on…
I completely agree with the remember who is behind BOOMIN, but it is clear the industry (or more so each individual business owner) will do what they feel fit to get ahead… some sticking to principle and others thinking sod it… give it a go… I am still on RM which is bonkers, with 8 available and knowing I can sell stock offline, but I was hit hard in my first week of invisible month, so decided to give up on that fight after my 4th seller said “X has called and asked why I am not on RM” (WTF… I blamed a small tech update and loaded em back on and instant calm restored) *I applaud RM for creating a belief so powerful
Put Mr B to the side and what I was shown with Boomin I liked. Hate to admit that, but if you’ve been shown Boomin then some might agree they have a couple of decent features to assist in getting better quality valuation leads.
What is worrying is reading people say “no leads” but then I am pretty sure a lack of available stock is stopping the next step of a movers journey They first see what is out there to buy and then request a valuation… stick all your sold houses as available and I bet leads would automatically increase – as would complaints no doubt, so the odd stalemate now of potential sellers thinking what’s the point nothing for me to buy!
I am so fed up with **** leads from RM and OTM though… I just wonder if trialling Boomin is something I should be doing… to put a spin on my biggest concern… it could be argued, if Boomin needs to be know to become useful for agents, I reckon Mr B will do a better job than OTM did…
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Ric,
I’m nine times out of ten agreeable to your comments and although I’m aware my point of view is not something you lose sleep over I would like to ask you the following;
– you don’t strike me as someone who just follows the crowd, so why make the comment ‘I just wonder if Boomin is something I should be doing’? This to me screams that you think they perhaps have the answer to some magical lead system. The leads will come from the same people that view rightmove. Boomin don’t and won’t have exclusivity over that.
– what advantage and I mean quantifiable advantage would you have by using Boomin? None of these new sites can actually say “if you join us your revenue, viewings or valuations will increase by ‘x’ percentage. So surely it falls back to the FOMO again, does it not?
Here to listen as I respect your comments
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Hi Mark. (Firstly thanks for the 9 times out of 10… kinda of spoils the fact I think I am always right LOL, but I take 9/10 for sure)
Indeed… defo not a sheep… hence not on it, but I became intrigued to understand how ANY agent could support the man behind “lets end High Street Agents”… Why would anyone support Mr B… but then I think, why do I support RM or OTM. I’m not a fan of their leaders either, based on past messages or current messages in the case of OTM. The latter forgetting some of us have 10’s of thousands locked away in useless shares.
This story oddly put me back a fair few paces with my interest in Boomin… 15 minute response times, urgh! I nearly typed “and that’s Boomin back off my radar” but having had them in the office, I felt it fair to say… if they’ve not pitched to you, it might be worth listening to. (you may still hate it… or be on the fence leaning to give it a go, like me, or just 100% do it! but saying it is **** without the pitch or trialling is possibly unfair… I think) Me just bashing it because of Mr B might be even more unfair, but I stand by he might be the reason I never actually do it… (his message as PB leader rings loud in my ears)
How did they get in my office? I have outright refused on Twitter a conversation with Mr B when he has held a hand out. (I have no interest… you hate High Street Agents) anyway, by chance a friend and I will say a personal friend with hand on heart came into my office who now happens to be the local Boomin Rep. (I knew he had joined the dark side and said nothing, but when he came in, clearly nervous but keen to say hello my first words to him… I hate you for the uniform, love you as the person so take everything that is coming to you as business to business and lets not let it get in the way of a 30 year plus history… and I ripped him a new one on how they want my staff out of work, cut out the EAs want my data, etc etc and just another portal. He did well not to just leave or plant one on me.
After thinking **** Ric, you rude tosspot I thought, let him pitch… I can laugh at every lame feature (and he knew I would laugh and pick holes in it).. but what he showed me was actually very good, it wasn’t just “request a valuation” and I think this is where I should stop with the what I liked... and ask you; Have they been in to show you (pitch to you, call it what you will).
What he 100% didn’t do was say your revenue will grow, he said he hoped it might, but because he knows me, perhaps he knew not to come in telling me how Boomin would make me rich.
The big issue with a quantifiable reason…
I have failed miserably in the past to show colleagues something which has been pitched to me and struck a chord, as you tend to transpose the information in your own words not how it was actually demonstrated, basically the Ric version of what I saw, would not do the pitch justice. But the Boomin pitch highlighted a key area which hit home with me and something my staff do now. When he showed me, I just thought wow… we do that with our mailing list… this allows us to do it with people who may not be registered yet and dare I say MAY NEVER register without the feature.
I’m not just jumping on, as you say I am no sheep… but I am interested adapting and not standing still if there is logic in trying something new. If portals and tech is here to stay, then trying to find something which works makes sense. (Take Sprift… couldn’t live without it now.. first thing I do when I get a valuation open Sprift!)
I’ve said a million times, I am not after quantity when it comes to leads… and I do believe they have one feature which can mean the lead quality is potentially MUCH better than the rest… that said, only trialling it would I know. I fear with Stock so low, the trial might fail…
For now though Mark, you still won’t find me on Boomin… but I am about to have them show me the feature again, after 2 weeks since the last time so I can see if it is still what I remembered…
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This is becoming so boring they should change the name to BORING, why so many negative comments and only one supporter Mr White ‘ who I believe admitted he is a paid consultant’, the whole thing is a joke, Can’t believe anyone would entertain these cowboys, it’s just another website! what is the objective of this WEBSITE?, to try and make money out of stupid agents? The Clock is ticking towards payment day and critical mass fall out.
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More undubstainted claims , I am not incentivised to back it.
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Disclose your connection with it then please, Iain? You have defended almost every negative comment – there must be a reason for this?
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Iain, You are a gob for hire. You defend the indefensible time and again.
You are blatant with it.
If agents cant see through it they deserve to be taken in by you and Boomin.
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So who has hired my gob as you put it ???! you don’t know me , we haven’t met yet you make such claims . my clients are 90% agents . Any work with suppliers is advisory on strategy and NEVER related to posts or articles or payment for the same . we don’t have to agree on Boomin but please don’t lie publicly about me or pretend to know how I work or who with, because you are undeniably ignorant of the facts . I have suppliers I like and those I don’t , i sometimes comment , usually to challenge others incorrect assumptions . who is paying you to be anti Boomin ? a scandalous suggestion i know , as is suggesting I get paid to say things , if only I did or could get paid for that keep the debate real please .
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“I am not employed by them but I am acting as a liaison in the capacity as a representative of my consultancy between them and the many agents who I work with”
source: interview with The Negotiator.
You may not be paid Iain, but it most certainly has an air of you falling for the Bruce brothers nice act this time around. It’s actually a real shame. In the interview you literally explain how you were so strongly against PB’s and the Bruce’s but once again, they come blowing smoke say they’re working for us now and it gets sucked up.
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Of course Iain, Think you said the same about OneDome but yet you have them proudly displayed as a cleint on your website.
I am not anti-Boomin i am pro-estate agent.
There is simply no need for Boomin. It will only cost agents MORE money and provide nothing different. Boomin is all about an IPO to make the founders money. Why else are they offering shares to agents that sign up at ths stage?
I have heard from reliable sources that many industry figures have been offered ‘shares’ to endorse Boomin. Of course just hearsay but in my opinion no smoke without fire.
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I consult with them on customer journey and agent requirements from the platform . I am a fan of anythinh that will disrupt the current imbalance of power between agent and the big two portals The only possible negative I see is that 15 mins might not be the right time frame . It’s a lead source Its free it’s halfway between online valuations and a fill valuation appointment , I think consumers will like this option as a st touch point . You can log out to not receive the leads . it totally relies on Boomin getting consumer traction with no liability to the agents . I am defending the negatives because I think in the main they are flawed or from a source that has zero intel or understanding of how it works .
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all I have “fallen for” is how Boomin is trying to re connect agents with homeowners
i like the BBS and believe they can disrupt the portal space and for that alone would get my vote .
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…and forgotten the history of the Bruce’s.
This is about not jumping on every ****** thing that comes along just because they say it will disrupt! Remember, this is coming from someone that you fiercely displayed your displeasure with and because you’ve had a ‘sit down chat’, all is well, and you’re on here defending every negative comment.
My point is that this industry needs to grow a backbone, especially against providers/people who spent millions to downplay estate agents in their previous venture. Come on Iain, don’t forget where you so vocally stated your position was just a few short years ago. Are you seriously saying that you haven’t fallen for anything?? Perhaps you’re very forgiving, in which case, good for you and I’ll leave you be 😉
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Not me sadly
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Our opinios differ on this , no problem with that .
big fan of Onedome for the same reasons.
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I was and remain very much anti PB but that doesn’t have anything to do with Boomin , other than the natural caution I observed when taking a proper detailed look . I can’t find anything not to like about Boomin from the agents Perspective on a strategic or operational level (I get the distrust) , and whilst I have met BBs both as founders of PB and as founders of Boomin and despite some very robust conversations particularly on PB I have always respected them both as people and operators . They are both aware of my views on PB .This debate is about Boomin and in particular SmartVal .and the instructions it might bring . I like the principle from the customers perspective and it must be about the customer , we can’t keep protecting the “old ways” because we can’t or won’t change. If customers like SmartVal and if Boomin can get eyeballs on it then it will provide lots of valuation leads , if customers don’t like it and or they can’t get eyeballs on the site in volume it won’t work . either way the agent suffers no loss or cost and even if the leads do come in decent volume , if you don’t want or don’tneed them you can log out .
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“I was and remain very much anti PB but that doesn’t have anything to do with Boomin”
Well without Purplebricks there would be no Boomin as very few challenger portals could offer a year’s free lunch without a substantial amount of capital invested.
Step forward the Bruces.
This was all garnered by a superb marketing campaign to capture the world with PB . Premier league in getting investors on baord. Axel Springer, fanatstic achievement but what have they got to show for it? A substantially written down investment when they took their own company private.
Bruces promised much to investors, delivered little but still came away with a princely sum.
Thanks very much that will do nicely ,Have a nice day Let’s move onto the next. The legacy issues exist today
A fantastic piece of business granted but why should it be different this time around the houses ? Many Foxtons shareholders have questioned their £3m investment in Boomin . They have been particularly quiet about the leads being generated.
Why is that?
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