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The ASX-listed outfit has welcomed nearly 80 years of industry experience into McGrath’s Double Bay office.
Craig Pontey and Michael Finger join the McGrath network as joint principals from the Ray White Double Bay business they founded 35 years ago.
Mr Pontey said both he and Mr Finger “will be focused on creating an environment to grow the business and expand our footprint under a respected brand”.
He explained how the pair’s past success, which includes positioning Ray White Double Bay as the number one office in the network for two decades, “has been based on leadership, energy, and creating a great environment and culture. We are passionate about that and will do that again.”
“We see an enormous opportunity to grow and pick up market share,” he added.
Mr Finger said: “Now more than ever, it is important to strengthen and develop their skills in a challenging market. I love to see people develop and progress in their career and life; hence I will be on deck to support and grow our team.”
John McGrath, managing director and chief executive officer at McGrath, commended the pair as being “among the very best real estate leaders in the country”.
“I’m absolutely delighted that they are joining our team. When it comes to real estate experts in Sydney’s eastern suburbs harbourside markets, I believe they’re a team with few peers,” he said.
Touching on the harbourside markets Mr McGrath mentioned, Mr Pontey outlined: “The top-end prestige market is the strongest that I’ve seen in my entire career of selling real estate.”
As for where the market will move in the coming 12 months, he anticipates “it will see even stronger prices in 2023 [as] there is much real money chasing limited opportunities that will continue to push prices towards”.
“People who are at the top end ($15 million plus) don’t seem to be borrowing the way they used to but in fact, are totally cashed up,” he said.
As for the rest of the market, Mr Pontey said: “It is not only about interest rates; it’s about sentiment. Sentiment is changing globally and creating some challenges for the property environment that Michael and I have seen a few times before.”
He concluded: “We will provide the leadership required for vendors, buyers, and our agents to successfully transact in these times. Experience is key going forward.”
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