(L - R): Jamie Cooke MD, iamsold, and Ben Ridgway MD, iamproperty.

Gosforth property auctioneer welcomes over 1,000 partners with new acquisition

In a trade deal, Gosforth based iamproperty has acquired SDL Auctions’ portfolio of Estate Agency Partners who use the SDL online Modern Method of Auction (MMoA) service.

The strategic move is part of iamproperty’s continued mission to “modernise the property industry” and develop solutions and services for Estate Agents, that have speed and security at their heart. This comes as MMoA sales are growing at record levels each month, with consumer awareness and confidence in auction at an all-time high.

The trade deal will create further opportunity for “increased focus and innovation” at iamproperty and will allow SDL Auctions to focus on traditional, unconditional sales at its live-streamed auctions. Both businesses will continue to offer value-adding solutions to vendors where they seek an alternative to Private Treaty.

Over 1,000 Estate Agency branches will join iamproperty and transition into its Partner Agent network, benefitting from the iamsold auction offering with its “unique” platform and service.

Some of the SDL Auctions team will also be joining iamproperty, strengthening its UK team and bolstering its commitment to service excellence for its Partner Agents. The combination of agent relationships and skills will help iamproperty further accelerate the growth of the MMoA category and cement its leadership position in this space.

The deal sees iamproperty’s Partner Agent network increase to over 4,500 branches across the UK. iamsold most recently announced a key milestone, hitting over £1bn worth of property sold via the MMoA in a 12-month period.

Ben Ridgway, managing director at iamproperty, said: “This is another very exciting acquisition and is part of our continued mission to modernise the UK property market, creating solutions which save agents time and support them to drive efficiencies and revenues in their business.

“The SDL Auctions business aligns not only in our mission and proposition portfolio but in our commitment to service excellence and experience for our Partner Agents. We’re really looking forward to welcoming some new teammates to iamproperty too.”

Jamie Cooke, managing director at iamsold, added: “This acquisition will help us to further accelerate the growth of the Modern Method of Auction as leaders in the space. We’re pleased to welcome our new agents onboard to the iamsold network.

“We are excited to build lasting relationships with the agent businesses joining us and to help them further develop their auction offering.”

By Matthew Neville – Correspondent, Bdaily