McGrath Real Estate has merged with a prominent independent agency based in Sydney's inner west, continuing an expansion program that has seen the total number of its shopfronts rise to 44.
The latest move, which was announced yesterday, saw Sarah Lorden Real Estate – owned by 17-year industry veterans Sarah and Kate Lorden - merge with McGrath Real Estate to form McGrath Balmain.
The new McGrath Balmain office will be a satellite to the company-owned Leichhardt office, which booked $590 million in real estate sales last financial year.
“There is a strong synergy between our two companies and I have great pleasure in welcoming them into our team,” McGrath chief executive John McGrath said.
“We believe customers will benefit as we combine our extensive client databases with expertise in sales, marketing, technology and training.”
Mr McGrath said consolidation would continue within the real estate industry.
McGrath Balmain will have a team of 30 as it provides sales, property management and home loans to its clientele. Kate will be licensee in charge, and will focus on sales, new business and property management, while Sarah will be associate director, and will remain as a sales agent.
The marketing, training and technology support on offer was a key attracted to linking with McGrath, Kate and Sarah said.
“For a customer-centric business such as ours, we were attracted to their systems and management which will free us up to concentrate on a closer interaction with our customers.”
Another attraction was the “the broad reach of mcgrath.com.au and the wide distribution of the McGrath magazine”, which Sarah said would give their vendors the ability to reach buyers beyond the immediate locality.
In November of last year McGrath Estate Agents announced plans to open two new franchise offices in the ACT, and chief executive, John McGrath, said the new offices would be opened as part of a carefully considered and strategic roll-out of several new franchises in the Territory.
Additionally, another office - the forty-third - is due to open in the Sydney northern beaches suburb of Frenchs Forest on February 17.