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One of Australia’s biggest real estate brands is hopping over the Tasman Sea to launch in New Zealand.
Raine & Horne has announced that the firm will be open in four locations on the North Island by the end of April.
Angus Raine announced the news Wednesday, April 12, and introduced New Zealand real estate veteran Keith Niederer as head of operations in the new venture.
A media release from the network outlined its plans to pursue “aggressive expansion” in the area, with the goal of opening on the South Island by the end of 2023.
Acquiring other networks is chief among the strategy for rapidly growing market share, according to Mr Raine.
The network head said that over the course of numerous trips to test the waters in New Zealand, he found a “significant appetite for another major real estate brand,” among the local industry community.
Speaking of the differences between Australia and New Zealand, he described the latter as a “softer market,” where independent businesses might be looking for the safety offered by a larger brand.
“While it’s fair to say the New Zealand property market is facing some challenges along with the distressing damage caused by the recent Cyclone Gabrielle, we feel the timing is right for us to support the real estate industry and property consumers,” he said.
He added that the particular structure of Raine & Horne would help it expedite its big plans.
“We can quickly adapt to a changing market and make quick decisions. We don’t need a complex boardroom dependent on shareholder votes to make decisions”.
Mr Niederer said that along with network acquisition, he was confident that Raine & Horne would be an attractive prospect for agents, particularly the younger cohort, due to its tech offerings.
“Raine & Horne’s astute and multimillion-dollar investment in its technology, such as Amplify and DigiKitPlus that are exclusive to our group, are massive prospecting tools for us as we expand across New Zealand. These products particularly resonate with the younger people entering the real estate industry,” he said.
He also noted that the company’s structure and unique history would help him attract talent.
“The fact that Angus Raine and his family have been at the company’s helm for 140 years and continue to invest in the business is filtering back to the industry and creating an appetite among principals in New Zealand to find out more about Raine & Horne”.
And he, too, commented on his belief that growth would come quickly.
“With its experience opening businesses in the South Pacific, India, Asia and the Middle East, and a finely honed four-week onboarding platform, new offices can be up and running very swiftly.”
As Mr Raine advised: “Watch this space”.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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