EYE reported yesterday that iad UK and Advocado had joined forces in what was described as a “strategic partnership”, though it was unclear at the time whether the deal involved an acquisition.
Following further clarification, the structure of the agreement has now been confirmed: iad UK has acquired Advocado Property.
Lee O’Brien, managing director of iad UK, told EYE that the Advocado team will continue to operate as part of the wider IAD network.
Avocado Property says, for agents, the deal with iad Network means more than just additional support. It means access to enhanced earning potential, stronger infrastructure, and the ability to scale their business through both personal performance and team growth.
The firm’s co-founder, Ian Macbeth, commented: “The combined model strengthens what self-employed estate agency should deliver, autonomy, flexibility and the opportunity to build a valuable, income-generating business with long-term value.
“Avocado and iad agents will now enjoy the best of both worlds – the autonomy of running their own business, backed by stronger support, improved capability and wider opportunity to mentor new agents looking to join a self-employed brokerage.”
Macbeth added: “We’ve built Avocado on putting people before property, creating a strong team culture and doing the right things brilliantly every day. What I’m excited about is keeping the heart of what makes Avocado different, while adding the scale and network power to take our standards further and faster.
“This partnership will no doubt mean we can all support more quality agents and help more homeowners truly enjoy moving house in the UK.