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Zoopla and online auction giant sign ‘industry-first’ deal

The portal is to offer Iamsold's 'modern method of auction' service to its member agents and hopefully kick-start greater adoption of auctions among vendors.

Nigel Lewis

Auction button on keyboard image

Zoopla and online property auction giant IamSold have signed a deal to promote online auctions to the portal’s member agents and ‘bring auctions to a whole new generation of homebuyers who might have only ever seen them on TV’.

Iamsold has its own network of 2,500 estate agents who use its modern method of auction to sell properties that need a quick and guaranteed sale online, but is hoping its partnership with Zoopla will expand the number of agents and vendors using its service.

Newcastle-based IamSold was started up 11 years ago by Jamie Cooke and Ben Ridgway to offer a new kind of online auction that makes property auctions more accessible and now turns over £19 million a year and employs 200 staff.

It claims to be the UK’s largest property auction house with a 60% market share.

Jamie Cooke - IAM Sold - image

But auctions still only sell 2% of homes for sale in the UK and Iamsold and Zoopla say the ‘industry first’ deal will change that as more agents and vendors opt to use auctions to gain a sale.

“In the current climate there is a sudden need to move for many due to unexpected lifestyle changes,” says Cooke (left).

“Millions of home movers visit Zoopla each week and with this partnership we hope to make auction a mainstream way of moving and arm more agents with this solution to go to their clients with.”

Link to Data Technology featureAndrew Marshall (left), Zoopla’s chief commercial officer, says: “Our mission at Zoopla is to be the agents’ champion and by partnering with Iamsold we believe we are doing just that.

“Our research shows property auctions are misunderstood by many agents and consumers alike, but we are confident that in Iamsold we have a partner that can help us bring auctions to a whole new generation of homebuyers.”

Read more about online auctions.

July 15, 2020

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