Monday 9 Aug 2010
Leading residential real estate group McGrath Estate Agents has announced the appointment of the first six sales agents who will spearhead its push into south-east Queensland. The agents will join McGrath’s new Surfers Paradise office based in Broadbeach on the Gold Coast, due to open later this month.
In making his long anticipated foray into Queensland, McGrath Chief Executive and founder John McGrath is tipping South East Queensland to enter a new growth cycle backed by strong population growth.
“South East Queensland is a very exciting market to be in, offering enormous lifestyle and investment opportunities,” said Mr McGrath. “The anticipated growth in baby boomers relocating here over the next five to 10 years, make this a market we must be in.
“This region has had a tough time over the past two years but the recent economic downturn has also created some excellent buying opportunities. I think that Queensland, especially south-east Queensland, is at the beginning of a long growth cycle.”
McGrath Surfers Paradise is the premium franchise group’s first major opening in Queensland following its Palm Beach franchise, and a critical strategic move in its expansion along the east coast of Australia.
The decision to establish its first company owned office at Broadbeach was a carefully considered move to capture the premium market which it has succeeded in dominating in Sydney and is just the first step towards further expansion into key Queensland locations.
“We believe Broadbeach provides an ideal base from which to grow our business – midway between Mermaid Beach and Sovereign Islands - with some of the most valuable beachfront property in Australia,” said Mr McGrath.
The importance of McGrath Surfers Paradise is reflected by John McGrath’s decision to appoint another McGrath as principal. Barney McGrath, a cousin, has been intimately involved in the business, working side by side with John over many years to establish the brand and culture of the agency.
McGrath Surfers Paradise is the fourth company owned office within the McGrath Group, which now totals 34, including its franchise partners.
“The opening of McGrath Surfers Paradise is part of an orderly roll-out of our premium brand franchise network,” said John McGrath. “Our expansion program has seen us move progressively up the NSW coast to the point where we are now ready to take this important strategic step.”
McGrath will leverage its strength in NSW to bring added value to its Queensland business.
“I believe that natural synergies already exist through our NSW client base many of whom hold Gold Coast property investments,” said Mr McGrath.
“In 2009 there were more than 6500 sales in the region. We expect this level of activity to increase, driven by the growth in migration and people seeking lifestyle change.
“There is also the important investor market driving growth. In some areas of the Gold Coast up to 40 per cent of dwellings are investor-owned, many from Sydney where we have an established and strong presence. The depth of our out-of-area database will prove a real benefit for our new clients in Queensland.”
McGrath has a well-deserved reputation for innovative marketing and has consistently won industry recognition for its lead in adopting new technologies to enhance its sales success.
“We have never been satisfied with traditional approaches to marketing – a listing in the paper and a picture in the window,” said Mr McGrath. “Buyer habits have changed and we have invested significant time and capital to ensure that we don’t just stay abreast of change but ahead of it.”
McGrath began the roll-out of its premium franchise network three years ago and has very carefully established franchise offices in key lifestyle and growth locations. The emphasis has been less on rapid expansion than on selecting the right partners, recruiting the right team and maintaining the McGrath culture through intensive training.
The six signings for the Broadbeach office were made after an exhaustive search to find real estate professionals who shared the company’s philosophy of superior client service and integrity.
Said Barney McGrath: “We are delighted to be launching with such a high calibre sales force. Our team all have a proven track record in this region and are a perfect fit for our company.”
The new signings are:
- Tim Sutch, a prestige specialist who has sold over $250 million of property in the last five years. Tim has set various records including the record price of $4.75 million for a Canal front property; and the highest price in Mermaid Waters – a 6 bedroom home in 2007. He was previously with Ray White Prestige (Surfers Paradise).
- John Natoli, a Central Gold Coast prestige market agent for Colliers International/PRD for the past 15 years. He was previously named REIQ Gold Coast Salesperson of the Year and in 2003 set highest price for a vacant land sale ($17.5 million); and 2004, highest Main Beach sale of $13.46 million.
- Patricia Box, a retreat and lifestyle acreage specialist, with an in-depth knowledge of the Hinterland, where she sold the area’s first $1 million property in 1999. Patricia was previously with Ray White Prestige Surfers Paradise, and previously Principal of PRD Nerang for 13 years.
- Noemi Pinter, an apartment specialist from Ray White Surfers Paradise for the past four years focusing on Surfers Paradise and Main Beach.
- Mashelle Jones, a long-time Main Beach and Paradise Waters specialist, previously with Keys Realty Main Beach. Mashelle has set several records including $1.9 million for a 2 bed Main Beach unit in 2010, as well as $1.525 million for a villa in Main Beach in 2009.
- Duncan Longmore - previously an agent with McGrath in Sydney’s eastern suburbs, before relocating to the Gold Coast in 2002. Duncan was previously with Coldwell Banker and Ray White Broadbeach, where in 2010 he sold the highest price home in “Surfers Waters” for $1.6 million.
The new office will offer a full range of professional real estate services including property management and mortgage broking through Oxygen Home Loans. Courtney Steinhour, formerly of Ray White Broadbeach, will head McGrath’s property management team and be responsible for growing this side of the business.The Broadbeach office will be located at 12-14 Albert Ave, occupying the former NAB office. Phone: 07 5570 7000