Two of the UK’s leading estate agency firms to utilise self-employed ‘associates’ have become one, it has been announced.

The deal, which is between two agencies with similar names, sees TAUK or theagencyuk.com buy The Estate Agency for an undisclosed sum. The firm is TAUK’s main rival in the sector other than Purplebricks and YOPA.

TAUK was launched was in December 2020 by Andy Vass, Mark Bruce and Stephanie Walker all of whom were involved in the launching or developing Purplebricks during its early days both in the UK and overseas.

The firm also has other connections to Purplebricks – its senior team includes Kenny Bruce while another industry big hitter involved in Harry Hill, the former Countrywide boss.

Bruce, who has also backed TAUK financially, says: “I’m invested once again in what is undoubtedly the future of estate agency, a platform that not only supports its agents like no other, especially with our Advanced Commission proposition and Our Estate Agency Director Program which benefits every agent partner, but which understands the UK market like no other.

“Harry Hill and I are backing the winner in this sector, and we’ve only just got started.”

The Estate Agency was founded in June 2023 by Chris Buckler, who until then had been a Keller Williams Partner. He teased the deal last week saying he had been working ‘on something very special’.

His firm has approximately 20 associate estate agents working on a self employed basis, with an office staff count of around eight including a financial services team.

TAUK is bigger, with 120 self-employed agents around the UK connected to its network. Its commentary on the deal says the acquisition is part of an ‘aggressive growth’ strategy across the UK and that the self-employed agent sector is ‘growing rapidly’ helped by its much more generous commission sharing arrangement compared to ‘office staff’ in traditional agencies.

Buckler says: “We are delighted to join TAUK and become a key component of their ambitious growth plans.

Visions

“I found our visions were aligned in wishing to lead the way and when senior executives and investors  who have done it before are involved and access to capital is on the table to achieve your goals the decision for us was easy- we very much look forward to the future and what it holds.”

Vass adds: “Our intention is purposeful. Our purchase of The Estate Agency is a strategic move to begin the consolidation of the self-employed brokerage sector in earnest.

“We have a number of other transactions in the pipeline and we firmly believe that the winner in the space will be a home grown company like us that truly understands the domestic market and what the U.K. customer wants.

“Our ethos is one of providing exceptional service and caring for both the agents and customers alike.”

Walker adds: “The advent of property portals in the early 2000s saw a similar, fragmented dynamic that was then ‘tidied up’ by Alex Chesterman to form Zoopla as a clear number two to Rightmove.

“In total Alex acquired multiple, smaller portals such as Prime Location, Find a Property, Asserta Home and Fish 4 Homes not to mention a stable of CRM brands too.”