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The boutique real estate brand continues its rapid expansion with the addition of a property management heavyweight to its corporate team.
Michael Conolly has been welcomed by the agency as its new head of property management. A vastly experienced operator, with over three decades in the industry, Mr Conolly will use the variety of knowledge and skills at his disposal to advance the brand, Stone reported.
A veteran of residential and commercial real estate, as well as business management, the executive formerly held the role of McGrath’s head of network property management franchise services, which saw him provide coaching and consulting as the network grew from 8,000 to 34,000 properties.
Mr Conolly said a move to Stone “was always something that was on the cards” and cited the enjoyment he has felt during previous business operations with many members of the Stone team as a primary reason behind his shift.
“The corporate team is full of people I’ve enjoyed working with in the past and have a great deal of respect for. The Stone real estate name has undergone a significant transformation in recent years, and the team has done a remarkable job in brand building.
“That’s only possible when you create a company with people who believe in the same shared values, and Stone’s values are tightly aligned with my own,” he added.
He becomes the latest addition to the Stone real estate team, which has opened 60 offices, including the new Crows Nest office, since it adopted the franchise model in 2016.
Peter Mumford, the brand’s chief executive officer, labelled the addition of Mr Conolly as “a clear vote of confidence” for the brand.
“Not only is it fantastic to get the opportunity to work with Michael again, but the fact that we were able to go out and hire someone of his calibre and experience in such an important role is a clear vote of confidence in what we are doing, and the culture we have created,” Mr Mumford said.
Commenting on the appointment, Stone’s head of franchise Luke Cameron expressed the company’s excitement at Mr Conolly’s arrival, adding that: “After several years of organic industry growth helping us reach key goals, Michael will bring a renewed focus to the property management side of the business, ensuring we can continue to grow sustainably into 2023, no matter what the market throws at us.”
Mr Conolly concluded that he is eager to aid the brand’s growth, especially at a time when the industry is experiencing a range of unique challenges.
“At times like this, when we are experiencing a market shift, it’s vital that real estate businesses re-focus their energy on the property management side of the business,” he said.
“My role will be to ensure Stone franchises continue to grow, and help them ensure long term efficiency, profitability and growth, as well as to protect the integrity of the brand moving forward.”
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