Grays adds Tagma property sales business to portfolio
Online auction house Grays has bought Tagma Property Consultants, which specialises in mortgagee and trustee property sales.
From January 21, al of Tagma’s mixture of residential and commercial property sales will migrate to the Grays marketplace platform, boosting its recently set up real estate division.
Tagma, which facilitated more than 500 property transactions during the past year, was founded in 1996 and works on behalf of financial institutions, clearing distressed assets to repay mortgages and loans.
“The acquisition of the Tagma team allows us to leverage the Grays marketplace to disrupt and digitise the traditional Saturday auction,” said Chris Corbin, Grays CEO. “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. We are really excited about playing a pivotal role in bringing this proven e-commerce solution to our real-estate market”.
Tagma director Brad Cannen said the deal would give Tagma’s customers access to the expansive buyer and seller database on the Grays marketplace.
The Tagma brand and team will remain unchanged and will report into the Grays real estate division led by Brett Garnett.