Intelligent Services Group, parent company of IAM Sold, The Conveyancing Partnership and Medway Law, has reported growths in both revenue and the number of estate agency customers.
Revenue grew 34% with group turnover increasing from £13.3m in the financial year 2016/17 to £17.9m in 2017/18.
The number of estate agency customers grew 60%, with over 2,000 branches.
The business, founded by Jamie Cooke and Ben Ridgway, said it has invested heavily in its technology, telecoms and office infrastructure.
It also said that digital auctions are “continuing to gain momentum with partner agents increasingly choosing online auction as a route to market”.
Medway Law’s specialised focus is on residential auction properties, providing a service that complements IAM Sold. It claims to have reduced the average time to complete a transaction to 44 days compared to the industry average of between 12-15 weeks.
Comments (1)
“Medway Law’s specialised focus is on residential auction properties, providing a service that complements IAM Sold. It claims to have reduced the average time to complete a transaction to 44 days compared to the industry average of between 12-15 weeks” Am i missing something, the 44 Days comes from he fact it was sold in Auction, If ones uses a conventional auction house this time is cut down again to between 14 days and 20 Working days.
“The number of estate agency customers grew 60%, with over 2,000 branches.” Makes a lot of sense as agents are loosing most other streams of income so this is an easy way for them to make money 50% of the Buyers Premium, and they can tell there clients they dont charge to put a property in auction