Recently launched British challenger portal Boomin says that its new SmartVal product is off to a flyer with 10,000 valuation leads delivered to agents in the first month of operations.
Launched recently accompanied by a nationwide marketing campaign, SmartVal is designed to generate valuation leads for Boomin's customer agents and give homeowners a more accurate valuation of their property than those provided by algorithms alone.
Once a Boomin user fills in the required fields in the valuation form hosted on the portal website, they can select local agents who are marked as online to complete the valuation using their expert local knowledge. Boomin claims that agents are typically completing these requests within seven minutes.
Michael Bruce, CEO and founder of Boomin, said: “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% 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 was founded by Michael and Kenny Bruce who were also the founders of revolutionary online agency Purple Bricks. Despite a lot of negative sentiment among the British agent community towards their former venture, the Bruce brothers' new venture has generated quite a lot of good PR in the industry with its claims to be an agent-centric disruptor.