North East property technology company iamproperty has announced the launch of its prospecting solution, the Marketing Toolkit, seeing the business enter the lead generation market for the first time.
The announcement, which was revealed at an online event yesterday, follows the recent acquisition of Information Works.
The Marketing Toolkit is a comprehensive data and prospecting platform, joining iamproperty’s growing ecosystem of solutions including auction, CRM and onboarding and conveyancing.
The new solution, which includes property data and reports, is a complimentary feature for iamproperty’s network of over 6,000 UK estate agency branches.
Ben Ridgway, co-founder of iamproperty, said: “The Marketing Toolkit will be an asset for agents, helping them to win and convert more business without putting a lot of time and resource into prospecting.
“Adding a lead generation tool to our solutions portfolio is a key part of our ecosystem roadmap, and it was important to us for our agent network to have free access to the toolkit, as an added value of partnering with us. As with all our solutions, we worked closely with our Partner Agents on the development and the early feedback has been brilliant. With more launches just around the corner, it’s an exciting time for us.”
iamproperty saw revenues rise by almost 40% in the year it received new private equity backing, the latest accounts show.
The accounts for Timec 1667 Limited – parent company of iamproperty – show that turnover for the year ending 31 October 2023, increased from £55.1m a year earlier to £76.9m. Operating profit also grew substantially, rising from £2.7m in 2022 to £4.3m.
Last year headcount topped 500 and it is believed that further growth in personnel has been added after the year end. In the accounts, the company outlines how the slowing of the housing market amid higher interest rates and wider economic worries led to a fall in transaction value during 2023.
The company said: “Iamproperty continues to invest heavily in its people and its technology to maintain its market leading auction position and begin to drive innovation through movebutler and CRM. We expect 2024 to continue to be dominated by a buyers’ market, however continuing stability with interest rates and the increased availability of lending will support a resurging housing market.
“Acknowledging the historic trend of general elections dampening housing activity, the UK’s 2024 election is expected to follow suit, affection demands and overall transactions in the broader housing market. Despite these challenges, we are poised for continued growth by expanding our agent branch network, integrating multi-product solutions to enhance the adoption of auctions, and leveraging robust data-led insights to drive success.”
Last year the company announced investment from private equity backer Perwyn that is believed to have topped £100m. At the time, Perwyn said that it would “support the business as it delivers on its vision to provide an ecosystem of innovative solutions for estate agents across the UK”. That deal, in which Mr Cooke and Mr Ridgway retained their majority share, saw Lloyds Bank equity division LDC exit the company, having had a minority stake since 2019.
Since then the company has acquired Somerset firm Information Works as part of its growth strategy. It had previously acquired property software business VTUK and SDL Auctions’ portfolio of estate agency partners in 2022 to expand its portfolio.
iamproperty acquires Information Works
