Australian bricks and mortar quantity surveying and tax depreciation schedules business BMT Tax Depreciation has acquired Homesales.com.au, a property platform operated by the country's leading online vehicle listings site Carsales.com.
BMT CEO Bradley Beer tells Property Portal Watch the acquisition is a natural step for the company, which has provided its services to investors using the homesales.com.au platform for several years.
He says strong synergies exist between the two businesses through a solid history of client referrals as Homesales property seekers move through their investment journey.
"The Homesales platform will provide BMT with a lot of scope for growth by giving our business a hand in both sides of the investment transaction," he says.
"We have a long and good relationship with Homesales.com.au, which is a more investor-centric site than others (that might also have been good local acquisition targets)."
Beer says BMT dominates tax depreciation scheduling in Australia with 50 per cent of the market. He says the company, which has 230 staff, is very tech-able, with many years of knowledge and expertise in assessing investment properties and crunching the numbers.
“Over nearly two decades, we have built trusted relationships with thousands of real estate professionals and property investors, producing hundreds of thousands of property tax depreciation schedules for clients across Australia,” he says.
Beer adds BMT will maintain the leadership that has helped build the Homesales portal to its current size and strength.
"BMT Tax will continue to invest into the Homesales business, with specialist knowledge of property and specific tools for investors that will significantly improve the Homesales offering into the future," he says.
"We have the ability to make quick changes right now to help build the Homesales site."
Beer also reveals BMT is about to add a new arm to its business which will focus on services for property owners. He declines to provide further details pending the formal announcement expected in a few weeks.
He did tell Property Portal Watch the new business division will be more like BMT rather than another online platform.
Homesales.com.au was launched in 2009 by carsales.com – Australia’s leading website for online vehicle listings with a market capitalisation of nearly $3 billion, led by Chief Executive Officer Greg Roebuck.
Homesales.com.au has developed an extensive agent network and has been successful in providing a strong consumer offering to property investors and prospective home owners looking to buy, sell or research property.
The portal attracts over 950,000 site visitors each month and has more than 200,000 property listings.