Auction giant signs unusual two-way lead referral deal
SDL will refer vendors of homes that don't sell at auction to Upstix, which in turn will offer auctions to its unsuited customers.
A big ‘instant home-buying firm’ has signed a two-way referral deal with one of the UK’s largest property auctions firms.
Upstix, which was founded two years ago by Hometrack founder Giles McKay with a £250m buying fund, has partnered with Eddisons, the owner of SDL Auctions.
The deal will see SDL’s auction service offered to vendors who either decline an Upstix offer on their property or if their home falls outside the firm’s buying criteria.
Conversely, when a property listed at auction does not meet its reserve price, Upstix will be able to step in with a cash offer, giving sellers a valuable second chance to secure a fast, reliable sale.
“At Eddisons, we are dedicated to providing solutions that meet the evolving needs of today’s property sellers, so we are really excited about our new relationship with Upstix,” says Andy Thompson, National Director at Eddisons.
“By partnering with Upstix, we’re able to give homeowners a seamless alternative to the traditional market, combining the speed of our auction service with the certainty of Upstix instant cash offers.”
Fred Jones, Chief Executive at Upstix says: “Today’s sellers deserve access to all the options out there to ensure they are able to sell at the price but also importantly speed that is right for them.
“While the traditional route of selling via an estate agent might remain the best option for many people, there is growing group of sellers for whom the speed of selling their property becomes a priority.
“This is where our partnership with Eddisons adds an extra avenue to our proposition – allowing people access to further options to in the home selling process.”
