Online agency BetterMove has been swiftly bought out of voluntary liquidation, with the purchaser having had previous association with the business – and sounding confident for the future.
A winding-up notice for the Wales-based business was placed in the London Gazette on March 28, with a timeline of April 1 for the appointment of liquidators Gaines Robson, of Leeds.
The buyer is Blootek Ventures, also of Leeds, which was incorporated in February this year, and whose director had an earlier involvement with the online agency business.
The firm’s latest accounts, filed in February, show a marked deterioration from 2017 to 2018 with losses going from £16,893 to £89,722, while it had a bank overdraft of £27,525 in 2018.
Blootek Ventures director Nicholas Statman told EYE: “A Better Move Ltd was placed in voluntary liquidation and a deal was struck with a new company Blootek Ventures Ltd to buy the Bettermove branding, intellectual property, platform and other assets as well as taking on its entire customer database of property listings to ensure continuity of the business and ensure trading as normal.
“Blootek Ventures is headed up by a totally new management team led by me and is currently in negotiations with Far East venture capitalists with a view to growing the business further.”
He also confirmed his earlier involvement with BetterMove, telling us: “I was involved in an advisory capacity but then the company had a change of business model and was moved to Swansea under new management and ownership in early 2016.”
BetterMove has an unusual pricing model, currently charging per month from £74.91 to £112.08.
According to its website, it is “officially the number one estate agent in the UK for the fastest time from instruction to SOLD”.
It has certainly gained remarkable results, with one property sold yesterday the same day it went online.
In November 2017, BetterMove said on its Rightmove page: “Any reference to estate agents tends to conjure up visions of smug, suited, slime-balls, making unrealistic and over-enthusiastic promises – then sitting with their feet up on the desk instead of actually doing anything to sell your home.
“It’s fine; we’re not offended… but you have our promise that at BetterMove, we do things differently.”
The wording was removed after EYE raised the issue with Rightmove.