Monday 11 Sep 2006
11 September 2006 – Sydney - Australia’s largest privately owned real estate group, McGrath Estate Agents, today confirmed its plans for expansion throughout Australia and New Zealand with a strategic roll-out of a new premium franchise operation.
The newly formed entity, McGrath Australasia, is set to revolutionise real estate franchising by launching a new model to the real estate industry. The McGrath Group plans to retain a small number of select company owned locations and expand into new metropolitan and lifestyle locations with a boutique franchise roll-out.
John McGrath, Chief Executive of McGrath Limited said, "We have been planning our expansion for over eighteen months and see this as a great time to grow the brand with high quality partners. We believe the way real estate franchising has been operated is outdated. We have a unique opportunity to launch a far more innovative and progressive business model than that which is on offer in Australia and New Zealand. Our model will provide a superior platform to business owners, sales agents and consumers. We have looked at the way business is transacted today rather than how it has been done previously and designed our offering accordingly."
Mr. McGrath said that his company had invested heavily in technology, with the upgrading of its highly interactive and consumer focused website and the development of a new sales management software system. The company has also developed advanced training programs for their salespeople and support teams.
McGrath says "The old model of having a small office in every suburb is outdated. It acts as a barrier for successful business owners and managers as it restricts their ability to grow a world-class business. Buyers look regionally and technology allows good agents to cover a much wider geographic area than in the past. We will partner with the best people in each region, forming an exclusive community of market leaders. This allows us to tailor our marketing, technology and training to high performers throughout our expanding network.
"We anticipate having approximately 125 offices in Australasia rather than 600 to 800 you see in other groups. If you want to be exclusive you must hand-pick the locations and business operators rather than put one on every street corner. For us it will be about quality not quantity.
"I am looking forward to driving our business to exciting new levels. Our focus will be on continuing to develop the best brand in the country, evolving our leading edge technology and internet site, advanced training and innovation. We will also roll-out our rapidly growing, boutique home loans business, Oxygen Home Loans, in tandem with our new model to provide our sales agents and their customers the best in mortgage broking."
The franchise operation will focus on capital cities and major lifestyle locations throughout Australia and New Zealand.
Mr. McGrath also announced today the merger of McGrath’s Manly and Northern Beaches offices with Peter Mumford and Jill Rafferty, previously of Charles Park Insight Realty at Manly, effective September 30, 2006. "Peter and Jill will head up our Manly and Mona Vale regions and we expect to open a third regional office in Collaroy within 12 months."
Peter Mumford said he is delighted to join the McGrath network. He confirmed that the combined operation will include 32 staff working from Manly to Palm Beach.
Mr. Mumford said, "We believe there is no other brand that offers the same level of service and commitment for our customers. We had never considered joining another brand as we were staunchly independent; however when the opportunity presented itself to become part of the McGrath network, the decision was easy. We have no doubt the McGrath marketing, systems and training are superior to all other brands."
Mr. Mumford will become the second operator to join the McGrath Group following on from the Central Coast team of Mat Steinwede and Jaimie Woodcock joining late last year.
Mr. McGrath said "Our Central Coast team is one of the best performing offices in the country and the addition of our new Northern Beaches team clearly demonstrates the caliber of businesses we are looking to partner with. I’m personally as excited today as I was when I started the company 17 years ago. This is a real opportunity to lift the benchmark on Australian real estate and subsequently provide buyers and sellers better results and service."