In a bid to significantly grow its newly established real estate division, one of Australia’s biggest names in e-commerce marketplaces has acquired a specialist property business.
Grays has acquired Tagma Property Consultants – a business that specialises in mortgagee and trustee property sales through the provision of management, disposal and realisation of assets.
According to a statement outlining the acquisition, it’s “a natural fit with Grays”.
The alignment is expected to drive growth for the e-commerce marketplace’s real estate division – with the expectation of a significant increase in both commercial and residential property auction listings in 2021.
Grays CEO Chris Corbin said the acquisition of the Tagma team allows them “to leverage the Grays marketplace to disrupt and digitise the traditional Saturday auction”.
“We intend to partner with realtors around the country to enable 24/7 online bidding which we believe will ultimately drive better results for our sellers,” he outlined.
“We are really excited about playing a pivotal role in bringing this proven e-commerce solution to our real estate market.”
Tagma reportedly comes with a 5,500-strong contractor and realtor database. Both its branding and team will remain unchanged, but report into the Grays real estate division as led by Brett Garnett.
Commenting on the alignment, Tagma director Brad Cannen said they look forward to joining the team at Grays: “We will continue to provide the same reliable services to all clients, with the added advantage of having access to the expansive buyer and seller database on the Grays marketplace,” he commented.
It’s the second acquisition for Grays in the past 12 months, after it purchased Western Australia’s Gregsons.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.