Bruce bros’ business is ‘Boomin’

LaunchB, the new venture of Purplebricks’ founders, Michael and Kenny Bruce, has announced that the brand name of their ‘innovative new venture, which promises to transform the property market’ will trade under the name ‘Boomin’.

Boomin says that its proposition is ‘Transforming the property market for everyone’, and promises to be ‘the most agent and customer centric solution ever created, putting agents at the forefront of determining the future rather than needing to react to it’.

It says that its ambition is to:

  • Open the market and get more people moving
  • Get customers engaging with agents like they used to
  • Increase revenues – during and long after the transaction
  • Give agents unprecedented life-long brand exposure
  • Increase productivity, giving agents more time to do what they love
  • Power a transformational experience for everyone – building loyalty
  • Support, promote, advertise and enhance the profile of Estate Agents

Boomin is inviting agents to register their interest to find out more and has recruited a senior leadership team to work under recently appointed CEO Gary Barker, and Executive Chairman Michael Bruce.

Phil Lloyd, who joined Boomin as CMO in January 2020, is a highly experienced marketeer with a strong track record of helping to grow technology businesses and creating powerful, established brands.

He left the role of CMO at carwow (the car sales business backed by another property industry ‘name’, Zoopla’s old boss, Alex Chesterman), to join Boomin. He was previously the Global Head of Advertising at Paddy Power Betfair Group PLC (now known as Flutter).

James Kydd was a pivotal figure in the launch of Purplebricks, becoming Marketing Director of the online estate agency, and he has joined Boomin, teaming back up with Michael and Kenny Bruce.

Kydd spent 15 years working with Sir Richard Branson at several Virgin companies, including as Director of Brand and Marketing at Virgin Media.

The new COO is Andrew Stewart, who has been recruited from the online car dealership platform, Cazoo (another Chesterman venture), where he was Partnerships Director.

Previously, he was Marketing Services Director at Zoopla, Market Insight Manager at Microsoft and Group Head at ITV.

Gary Barker, CEO of Boomin, said:

I’m thrilled to be working with such an amazing team to launch a unique business, which will have a transformative impact on the property market.

“We have attracted world-class talent and are creating a powerful new brand, supporting agents, generating new revenue for them, and engaging customers in a new and enduring relationship. “

“I am looking forward to sharing more of our plans in the coming weeks and sharing our vision to open the market to all”.

Michael Bruce, Executive Chairman of Boomin, said:

The strength and depth of the team that we have managed to attract is remarkable, it is a genuine privilege to be working with people who share our vision and have the energy and experience to do transformational work that makes a difference to so many other people’s lives.

“We are proud to launch our brand name, which best describes how we want to see the future for the property market for everyone”.

The Boomin website says:

Be part of the future

Boomin is all about innovating and investing in everyone interested in property. It’s about opening up the market and getting more people moving.

We want to create an environment where Estate Agents are:

  • Empowered to deliver exceptional experiences
  • Respected and rewarded for the work they do
  • Able to create lasting relationships with their customers.

Be part of a win; a win for everyone. Grow your business, earn more revenue, increase your productivity and have fun.

Despite all the PR it is still unclear as to what the Boomin business actually is, and how it is going to do whatever it does. Time will tell.

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35 Comments

  1. Robert_May

    I’m not sure  it matters what it is going to do,  I’m fairly certain they could give  away Golden Tickets  to the Wonka factory and people would say I found this, would you like it? and the response would be I was going to let you have mine!
    Taking the personalities out of this ‘distruption’ has eroded fees-  the average branch is down about 0.25%  average  commission from where it was when disruption  started shouting a name for itself in 2013.  That fee erosion costs  the average agency branch about 4x Rightmove ARPA (over £4500 a month).  
    While I understand all the sentiment surrounding the portals in terms of costs and attitudes towards agents and I understand that behemoth CRMs have a limited shelf life and that websites will be come web platforms  and that Gary Barker understands all of that too, I cannot imagine how this industry is going to treat with a firm that has  effectively  contributed so much  lost income, damage and disparagement on agents who they are hoping to attract as data suppliers.
    If the offering is based on undoing the  PR harm  done to the greater majority of the industry and restoring veracity and confidence, it might get a muted interest but I’m not sure a  20 minute therapy session with some people the industry likes and respects  will be considered of much value when compared with the harm that’s been done and the ongoing loss of revenue.  
     
    I have every confidence Gary  can deliver something brilliant but I am almost certain that won’t be enough.    

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  2. Ric

    erm…

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  3. bestandfinal51

    The strength and depth of the team that we have managed to attract is remarkable………”
    Correct me if I am wrong, but it appears to be propped up by familiar faces from the PB days; and self proclaimed ‘mentors’ of the industry.
    Given the gravitas the Bruce brothers can now command, should/could they not seek in taking an opportunity to freshen things up? The damage instigated from the proclaimed ‘property industry shake up’ runs very deep. The race to the bottom in relation to fee’s in recent years has been undoubtedly the main impact, the attraction of a role in the industry has evaporated considerably.
    The low fees now being commanded by agents, coupled with consistent over-valuing, and now a pending perfect storm on the horizon of a world-wide meltdown. Together this probably signals the end for many good agents, as they simply do not have the financial resource in reserve, as they once did – say for example during the last market pinch in 2008.
    So, will this new offering go some way to help this aspect – it would be a good point to start at.
    Granted, the industry did need a shake up, but at the detriment of finger pointing at peers in order to score points and gain support from the already suspicious public as to what agents actually offer to earn their fee, via expensive marketing campaigns? The industry has been dumbed down.
    I wish all well with this venture, after all change can and should be positive. If it shrarpens agents up, then  all good; and as always with Mr & Mr Bruce, it will certainly be different and eye opening.  

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  4. Property Poke In The Eye

    First the the Bruce Brothers bring down the Estate Agency Fees via Purple Bricks now they are trying to raise fees via training agents how to get better fees etc ????  Or am I reading this wrong??

    One thing these boys are good at is spin and getting the best people on board.

    Lets see how much investor money they can raise this time around.

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  5. Bless You

    can someone pass this onto national press.

    Bricks foundrs apologise for killing an industry, making it more stressful to move and now trying to save it with their blood money.

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    1. PeeBee

      Have I missed something, Bless You?

      I’ve seen no apology.

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  6. Lettingagent21878

    Would rather sh_t in my hands and clap than sign up to these lot

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    1. smile please

      Sums it up perfectly.

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  7. Mrlondon52

    Selling to estate agents is actually quite a small market (the portals aside) – the interesting part of this will be what it does for consumers.

    This press release tells us precisely sweet FA. Common sense says that these people – who do have good CVs – wouldn’t have joined something with a weak proposition.

    We shalls see.

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    1. smile please

      Share options.
       
      Bruce’s have had the sweet taste of taking a private company public and done VERY well off it despite the offering being what it was.
       
      Ian Sprignett did the same.
       
      This is just another investment vehicle to add a few million to the pockets of those involved. 

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  8. Interested Party

    They remind me of the characters from the series White Gold.

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  9. Keyser Söze

    You can imagine the conversation.

    “Our customers are estate agents.”

    “But agents across the UK hate us because of the millions we’ve spent taking digs at them through the commisery TV adverts.”

    “I’ve got an idea, let’s create an industry charity. That will buy us some good PR and win the hearts and minds of estate agents across the UK.”

    “But we’ll get slaughtered by the industry consultants and commentators.”

    ”Let’s get them involved with the charity then they won’t criticise us.”

    ”Even better, they will help promote us to their agency contacts.”

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    1. PeeBee

      Nail : Head.

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  10. Hillofwad71

    The quandary is how will Sporting Ken fit this into his roster .
     
    Will he be scaling back his outside interests to make room ?
     
    His  horse Princess Siyouni ran 4th yesterday at Yarmouth His Colonel Frank due to run at Newmarket on saturday and Invincible Larne next  week  
     
    You have to hand it to the Bruces  nearly as much  neck as Headphones Quirk
     
    New Mission Statement
     
    “Get customers engaging with agents “like they used to””  
    What’s this Goodbye to disruption  and ” Back to Basics “aka Countrywide    

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    1. APE

      Agreed!

      “Get customers engaging with Agents like they used to”, is the strongest indictment of how wrong they were to call PB Estate Agents.  They thought self-service was what the public wanted.  They don’t.  They want help, advice, support and even counselling, throughout a sometimes lengthy and often stressful process.

       

      Now, they:
      want to create an environment where Estate Agents are:

      Empowered to deliver exceptional experiences
      Respected and rewarded for the work they do
      Able to create lasting relationships with their customers.

       

      Many of us already have that.  We created it ourselves.  Over many, many years.  All the Bruces did was attempt to erode that.  With other people’s money.  For their own self-gain.

       

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  11. Woodentop

    Lol, you all do know what one of the definitions of “Boomin” means?  
     
    Something that is squeezed out of your underpants that is all gas.  
     
    So after decades of the industry changing with the times, this lot suddenly know how it should be done, we are all wrong, they know best but have a history of failure? I think I could learn more from “Stah Lets Flats” but which one will win the golden globe?

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  12. JohnWick

    Agents Together is the sprat to catch a mackerel – nothing more. If you truly need the help they claim to offer they’re better sources to obtain it.

    LaunchB = Boomin

    “Be part of a win; a win for everyone.” 

    Pull the other one. Tread carefully as the Bruces will do anything to win regardless of who gets hurt in the process.

     

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    1. cyber_truth

      John Wick, you are correct. Michael & Kenny Bruce hurt many familes financially across more than one continent to enrich themselves. So many stories we hear about LPEs  and employees that lost everything, were over worked and never sold 1 share of stock or their territories.  The promise of fortunes, “something your grandkids will talk about” and other lines he appears to be saying to some of the new blood. Only a few family and friends made money, mostly the Bruce brothers at the expense the people that supported them. Even the name is arrogant.   

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  13. htsnom79

    What on earth are they still doing in the building?

    Go fishing, play golf, write a book I don’t know coke and hookers ?, whatever floats your boat ( and you can afford one ).

    You’ve made your millions and a la Platt turned agency in some eyes to a transactional function when you know it isn’t it’s far more nuanced,  this agent YTD has sold 1 less property than no’s 2 & 3 combined, culturally we’re very different and the PB model sits as the worst of all worlds for the client, pay upfront with little to no expertise or personal professional pride thereafter.

     

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  14. Fairfax87

    Sounds like a customer app to me, designed to support the end to end process and beyond… but what is going to be different to what is already out there.. MIO etc?

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  15. SE

    Having read these comments, I thought maybe some context on Agents Together would be useful for those that are not fully au fait with what we are doing.

    As some of you may know, I am the CEO of Agents Together, a charity that has been set up and funded generously by Michael Bruce. AT is overseen by myself and the team of founder members Chris Watkin, Sam Jones, Mike Day, Stephen Brown and Kenny Bruce, with Michael actively supporting both myself and Samuel Offley (our new Relationship Manager) on a daily basis.

    In 6 short weeks we have arranged just shy of 100 mentorships, the feedback from the sessions has been quite honestly overwhelming, the sessions that have taken place have truly helped individuals who may have otherwise had nowhere to turn.  When we set off on this journey, we had the sole purpose of helping the industry and the individuals within it, and that is what we are doing. 

    The founder members have given their time for free, week in week out to make this happen. We meet (virtually of course) regularly to plan new initiatives that will further support people to have a healthy mind and a healthy business.  We have so many interesting, valuable and exciting things in the pipeline that will be of great benefit to those who would like to take advantage of it. 

    I often find myself disappointed at the negativity that shrouds our industry, and in particular in some of the people who I respect and admire, who feel the need to bring down any new initiative. 

    All I would, respectfully, ask is that anyone making or reading comments regarding Agents Together judge us all on the outcomes we create for people who need help.

    If anyone would like to talk to me directly – please pop me an email and we can arrange a call. sarah.edmundson@agentstogether.co.uk
    Sarah 🙂

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    1. Woodentop

      At least someone believes in you, you. When the poachers starts telling people that he has tried to destroy, he knows better than them and suddenly wishes to put a band aid over their eyes, often from an injury ‘he & Co’ created, is it any wonder that this venture is treated with scepticism, sarcasm and distrust by many people who know better than you and your friends.  
       
      Look in the mirror and say to yourself, why is it that some in the industry are loath to get into bed with you. Who created that issue in the beginning and with a very BIG lack of trust!

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    2. smile please

      Does this hit a bit close to home Sarah?

       

      People have hardly mentioned AG but you feel the need to jump to its defence.

       

      Great initiative but given the background of the Bruce’s its from the wrong people. Many people blame them for suffering ( a number of ex PB Staff have posted what the culture was like) that they are facing.

       

      PB’s had a sustained attack on high street agents and now they want to help them?

       

      Timing is a little strange isn’t it? Look at Keyze Sozes above post ….

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    3. Simon Bradbury

      Good post Sarah!

      I think that the objectives of Agents Together are commendable and appear to have the support of some of the best people in our industry – all of which command respect and appreciation for what they are doing.

      Thanks to all of you.

      As for the “Boomin” project – let’s see what happens… at least it’s an interesting and ambitious initiative.

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      1. Robert_May

        Good point diplomatically made Simon Agents together project and  Launch B need to be separate and seen as separate otherwise the negatives of a  commercial venture will distract from the charitable venture.

         

        People are  quietly distancing themselves  on social media because of  the perceived link between the two

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      2. Property Pundit

        Translation: PLEASE PLEASE PLEASE let me be a part of it, I’ll even forgive you for over-looking me in the first instance.

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    4. cyber_truth

      LOL – It’s all a scam and your gig at Agents Together was to create funnel for this new venture to get Michael and Kenny out of the house and try to repair the damage they did ripping apart estate agents with arrogance across the UK. Now he is trying to be Mother Teresa of estate agency “using his money” he took off the back of many families that left Purplebricks worse off believing in their vision. He is ruthless man, just ask people that really know him. Their egos were too big to stay home and be discrete hoping investors would forget about how they ran the stock up on hype and dumped it before the street to cash in. I’m sure there were some naive investors at the table given his track record for “boomin,” but the market is smarter then using any product they bring to market to compete with Rightmove and others. They will need more than a 100 estate agents (mentoring) support this platform and cover their salary expense alone to make this engine work. With James Kydd in the room, expect a lot of brand awareness campaigns which means big spending on marketing. Every business they touched ended up in demise. Purplebricks is next and Boomin is the next scam to make the Bruce brothers more money and a few of their friends and family. Get out the popcorn!

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      1. Simon Bradbury

        cyber_truth…” LOL – It’s all a scam and your gig at Agents Together was to create funnel for this new venture to get Michael and Kenny out of the house and try to repair the damage they did ripping apart estate agents with arrogance across the UK. ”

        … and man really didn’t land on the moon either!

         

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    5. PeeBee

      Ms Edmundson

      For once, I will keep my personal feelings to one side – and simply address the problem as I see it.

      You and some other high-profile industry names have agreed to become involved in a charity which supports the Estate Agency industry and those who work in it.  You would think that would be seen as highly commendable – it certainly should be… but.

      And, I’m afraid, it’s a big ‘but’.

      Trouble is, it’s fairly clear from the comments above – and those that have been made on other related article threads, both here on EYE and other trade publications – that many see it that said charity has been financed by individuals who have irreparably damaged the industry, with monies they have made from causation of the issues that now affect the very people the charity aims to help.

      You ask that the two ventures be thought of as separate – I’m not sure that this is in the slightest way possible, due to the individuals involved and the depth of ill feeling that they have brought upon themselves over the last seven years or so.

      You seem to express disappointment that others are voicing their feelings of negativity – which I find a touch surprising considering your involvement in this venture is surely one of assisting those with negative issues in an empathic manner.  I’m no counsellor, but I wouldn’t imagine that’s in any book dedicated to the art of winning hearts and minds.

      You and your colleagues have an uphill battle to fight in order to change the mindset of the majority of an entire industry that you wish to support – a battle which, whilst you may be willing to fight, I am afraid you may never win.

      Which is a real shame for those of you who’s involvement is fueled by genuine good intentions and the want to make a difference.

      I sincerely hope you take this in the spirit in which it is written.

      Your colleague in industry.

      PB.

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  16. JohnWick

    What AG is trying to do is (in theory) great.

    However, AG was announced a couple of months ago, then Boomin – both with Bruce Bros. Having known them both for over 10 years in 2 different companies. Bruce Bros have been directly involved with the some of the problems that AG is trying to solve.

    If they feel so strongly, perhaps they should start with an apology to those people.

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  17. James White

    The more I read about game changing and disruption in the property market world the less I am convinced about being any further along than we were thirty years ago.

    For sure the internet has replaced the way people browse for houses but the process itself is still the same and actually requires more human intervention than ever.

    As conveyancers take on more and more work for lower and lower real time fees they require more pushing and shoving than ever: which requires people not computers or algorithms to do it…..

    As society has become more instant, people have become less patient and it is the best agents that manage this process.

    The real game changer will be when the law society releases the reigns on the tech revolution on the conveyancing element – that’s when the game will change.

    In the meantime there will be many that try – including Boomin et al

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  18. majortom1

    Not sure the boys from the NW band Boomin are going to be very impressed.

     

    AG-no harm done really in trying to make amends.

     

    Haven’t got a clue what Boomin is about .

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  19. AgencyInsider

    Looks to me like someone is trying to reinvent the wheel. We have been doing that list of ‘ambitions’ since god was a boy.

    Given the Bruce brothers knack for lucrative business it will probably make them shedloads of dosh again but it really won’t surprise me if Boomin eventually goes Bustin.

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  20. jeremy1960

    When the Bruce brothers eventually have the balls to stand up, admit that they have well and truly shafted thousands of customers and that they screwed over good estate agents, then maybe they may get a few on board. Given that their false advertising, crazy low subsidised fees and the kick backs that they got from referring to factory conveyancers have reduced the earnings of good honest operators, I’m not holding my breath waiting for agents to jump aboard.

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  21. Property Pundit

    I wonder if buying back Purplebricks is part of the medium/long term plan here for the Bruces (when it’s on its last legs or in administration) and then incorporating it in to the pile of drivel we’ve heard about so far.

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