Emoov ‘Needs Quick Sale’, Reports Say

Online estate agency Emoov is looking for a quick sale, it is reported.

Sources have told the Estate Agent Today website that ‘a deal needs to be done in the coming days – and the price for the business will reflect that.’

EAT also says that around 10 parties are in discussion with Emoov and that this could involve either a complete sale of the business, or further investment. EAT adds that its sources suggest that the valuation of the business has been ‘incredibly attractive’ for potential buyers and well below both previous deals for online estate agencies and the £100m which it is believed Emoov’s merger with Tepilo and Urban cost earlier this year.

Emoov put itself up for sale at the end of October, apparently after failing to secure the further funding support it had anticipated. Inevitably, what transpires as a result of any deal will be seen as something of a bellwether both for the future of Emoov and online estate agency generally.

Source Estate Agent Today
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