Real Estate

Boomin launches ChainMaker platform claiming to reduce fall-throughs – Property Industry Eye

Boomin has announced the launch of ChainMaker, a new tool which aims to help agents save sales from falling through and introduces agents to hot buyers who have houses to sell and need mortgages and other products.

The software was developed by Boomin’s in-house tech team to address the huge problems and costs associated with the breakdown of a chain for everyone concerned. It is estimated that around 32% of transactions on average result in a fall through.

ChainMaker works by enabling potential hot buyers to register their interest in properties sold subject to contract like they did directly with agents before property portals came into existence. Should the worst happen and the chain be put at risk through buyer withdrawal, the agent has a readymade digital hot box of motivated buyers from which they can quickly draw upon to step in and fix the chain, avoiding the usual delays, disappointments and costs, typically associated with chain collapses.

For agents, Boomin says that ChainMaker not only works to protect their potential income from the chain at risk, but it also creates new client relationships with other keen buyers who register their interest in the property and who equally may have a place to sell.  ChainMaker will also help to reduce the number of properties withdrawn by sellers when the chain breaks and the transaction falls through.

All consumers need to do when they find a property under offer which they are interested in is register their details on the platform. The pro-active buyer’s full details and market position are available to the agent straight away so they can start to build a relationship. Agents also receive a daily email update of new interested buyers.

ChainMaker is now live on and is free to use for all Boomin agents.

Michael Bruce, CEO and founder of Boomin, said:   “ChainMaker goes to the very heart of what we are trying to achieve as a business; using technology to re-establish the direct connection between local agents and customers, whilst providing support and a boost to housing market activity levels. With over 30% of properties marked as ‘under offer’ collapsing, our unique technology provides agents at just a click of a button with a readymade list of motivated buyers, primed to step in and save the chain.

“Property classified portals have broken the direct link that previously existed between agents and every buyer. We will continue to lead innovation which creates opportunities for agents and supports them and their customers to build long-term relationships that last a lifetime, not just for a transaction.”

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