A Birmingham estate agent is flying in the face of the troubled housing market to snap up struggling rivals as part of its expansion bid.
Chamberlains Estate Agents, which has 11 branches in south Birmingham, is set to close a deal on Friday which will bring an estate agent with a further two branches under its umbrella.
Chamberlains would yesterday not name the estate agent for confidentiality reasons.
The acquisition will follow Chamberlains’ purchase in April of The Estate Agents, which added branches in Northfield, Sheldon and Yardley and Rubery to its portfolio.
With estate agents bearing the brunt of the housing downturn - a recent report said branches are closing at the rate of 150 a week - Chamberlains’ move defies the gloom in the market.
Chamberlains managing director Stuart Hollier said: “Now is an ideal time to put into practice our strategy.
“We can attach Chamberlains to companies that are struggling as it secures us and gives us a better market share.”
Chamberlains said the acquisitions would allow it to pursue its strategy of offering vendors a multilistings service.
Operating under several brands means vendors pay a sole agency fee to have their property listed at more than one branch.
Chamberlain’s recent acquisitions add to its purchase of Rice Estates in Bournville last July and Home and Away, acquired last June.
Mr Holier is confident that Chamberlains will see out the property market downturn.
“Some inexperienced estate agents are and will continue to struggle,” he said.
“With good commitment from staff, who are regularly trained, we are prepared for this.”