The prop tech industry continues to make headlines with one of the country’s oldest low-commission estate agencies, Steeple, being acquired by newer low-commission player, PropertyFox, according to reports.
The deal will see all of Steeple’s current mandates and sellers “migrating” to PropertyFox.
“It will add around 100 new sellers to our platform, giving clients a wider selection of quality properties to choose from,” said Crispin Inglis, CEO of PropertyFox.
Steeple CEO, David de Waal, said: “We wanted to entrust our sellers to an agency that we knew would take good care of them and, more importantly, would be able to sell despite the current poor market conditions. PropertyFox was an easy choice for us because they have great people, robust systems and strong advertising.”