Yopa strikes auctions deal with Iamproperty
Both parties in the new partnership say the move reflects a changing market with more properties now going to auction.
Hybrid agency Yopa has struck a deal with online auction specialists Iamproperty to sell some of its properties under the hammer.
Iamproperty will be Yopa’s strategic auction partner, with selected listings sold through its ‘Modern Method of Auction (MMoA)’.
Both parties say the partnership is a sign of an evolving market, with more properties going to auction.
Solutions
Jamie Cooke, Co-Founder of Iamproperty, says: “Our latest consumer insight shows that 92 per cent of sellers want certainty and genuine commitment from both sides, and auction continues to deliver against that expectation, with a 95 per cent completion rate.
“Yopa’s scale, reputation and modern approach to selling make them a strong strategic partner, particularly as more agents look for solutions that help them move away from drawn-out private treaty timelines,” he says.
“By working together, we’re giving agents and consumers greater choice and a proven route to faster, more secure outcomes, while further strengthening our position as the UK’s largest online residential auction provider for MMoA.”
Like-minded
And Verona Frankish, CEO at Yopa Property, says: “We’re delighted to be working with Iamproperty through this strategic partnership, and I am certain this collaboration between two like-minded organisations will continue to go from strength to strength.
“We’ve partnered with Iamproperty because MMoA as a method of sale continues to grow in popularity, and their innovative business model makes us a great fit,” she says.
“Ultimately, we were impressed by Iamproperty’s approach and their commitment to quality services standards and support.”
Turnaround
Last month, Yopa posted trading results which showed the company had reduced its operating losses to £500,000 from £3.2 million after revenues increased by 29% to £27.2 million.
Gross profit was £12.6 million, up by over 50%, covering 12 months of trading to the end of September.
Yopa launched its new associate ‘broker’ model for self-employed agents in 2024.
Residential auction receipts surge in November
