The U.K.’s largest online residential property auction company, Iamproperty Group has acquired SDL Property Auctions’ portfolio of over 1,000 estate agency branches who use the SDL online Modern Method of Auction (MMoA) service.

The deal that brings them to the B-to-B service provider for agents is part of plans for the next phase of growth for their consumer facing Iamsold property auction service. It is part of Iamproperty’s ambition to modernise the property industry and develop fresh solutions and services for agents, at a time when MMoA sales are growing and consumer confidence in auctions has increased, according to Iamproperty.

The acquisition will increase Iamproperty’s partner agent network to over 4,500 branches in the U.K. Iamsold recently announced that it has reached £1 billion worth of property sold via the MMoA over a 12-month period.

The deal will help Iamproperty create more opportunities for innovation and allow SDL Property Auctions to focus on traditional sales at its live-stream auctions, which, during 2021, accounted for over £250 million of sales. Some of the SDL Property Auctions team will join Iamproperty, which will help strengthen its U.K. business.

SDL Property Auctions have retained some key estate agency clients, including Knight Frank, as well as all of its non-estate agency clients, who will continue to benefit from SDL’s range of auction services, including its traditional live-streamed national auctions which feature unconditional sales.

“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,” said Iamproperty MD Ben Ridgway.

In March Iamproperty Group completed the acquisition of real estate property software provider VTUK.

 

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