Boomin Gets Backing of UK Agents Guild After Making Promises

January 29, 2021
Share this Post: 

The new British challenger property portal Boomin has received the backing of The Guild of Property Professionals, an influential agent organization with some 800 members across the country. The backing comes after Boomin founder Michael Bruce entered into an agreement with the guild "that guarantees the integrity of data and its ownership rights, as well as the primacy of the agent/customer relationship".

Bruce is well known among agents in The UK for being the co-founder of online brokerage and agent-scourge Purplebricks, and the guild admitted in a statement that because of Bruce's past, "opinion on Boomin has been divided" with many fearing that Boomin might eventually seek to bypass agents from the equation and go directly to vendors or use agent data in ways that cut them out.

These fears have been allayed however with an agreement between the two parties which will see all agent data pass-through a specially developed Guild-controlled platform before being fed to Boomin. With the agreement in place, The Guild is now officially recommending that its agents sign up to Boomin which is offering agents free use of the site for 2021 and a flat fee structure until 2024 if they become 'Founder Agents'.

The important backing of a reputable industry association comes at a good time for Boomin as its delayed December launch was chalked up in some quarters to an inability to sign up enough agents before its mooted launch date. Although no concrete launch date has yet been divulged by the portal, the backing of The Guild will no doubt see more agents commit to list and may precipitate a launch which in December was delayed until "early next year".

Since its inception in early 2020, Boomin has played the portal PR game very well generating a number of positive headlines and winning over sceptics. The portal is believed by many industry insiders to be the only challenger portal with the financial muscle to take on Rightmove and Zoopla and has already promised to flex these muscles in a marketing campaign and promote agents' brands alongside its own.

To read more about Boomin's business model and its short history, head over to our analysis of the company's marketing video for agents.

January 29, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Short Term Rentlas Airbnb Oyo Jll
Short Term Rentals Roundup: Airbnb Appointment, OYO IPO and a New Rival

There have been a few important pieces of news coming from the world of short-term and vacation rentals this week....

Read More
Zillow Housing Data
Zillow in Legal Battle for Cheap Local Housing Data

American real estate giant Zillow is backing proposed legislation in Michigan which would significantly reduce the cost of procuring property...

Read More
Prosus Trying To Buy Cian
Prosus Owned Horizontal Avito Reportedly Close To Acquiring Leading Property Vertical Cian

According to reports in Russia, leading horizontal player Avito is trying to buy leading real estate marketplace company Cian.ru. According...

Read More
Adevinta Fintech With Marketplaces Report
The Future is Pairing Fintech with Marketplaces According to New Adevinta Report

The returns of fintech enabled marketplace businesses are far superior to those of marketplaces without fintech capabilities according to a...

Read More

Popular News