Independent Property Group (IPG) has finalised the purchase of Laing+Simmon’s 47 NSW offices.
Stan Platis, regional sales director at Independent Property Group, said the deal - the cost of which hasn't been disclosed - won't lead to major changes within the Laing+Simmons network.
The deal was originally announced in mid-April.
“From the perspective of our owners, the status quo won’t change,” he told Real Estate Business. “What we will hopefully offer [owners] is the opportunity to expand their knowledge base with training and education."
“We plan to add value to our offices by giving principals and agents more focused instruction with innovation, marketing and project marketing.”
The Laing+Simmons corporate office will remain at its current location in Sydney, with Leanne Pilkington, general manager, heading up the office.
Mr Platis said the purchase was a vote of confidence for the real estate industry and the Laing+Simmons brand.
“It shows a lot of confidence in our operators and office owners,” he said.
“Through our decade-long relationship with Leanne Pilkington we have seen a brand that is exceptionally strong in the Sydney metro area.”
However, IPG does not plan to open up a raft of new offices in the near term.
“Our goal is not to open 1,000 offices, instead we want to ensure we keep the Laing+Simmons culture and build on that with operators who are professional and passionate about real estate,” he said.
“We have the two brand in two very different states and territories. This gives us great exposure in the market place and that is how we would like to keep it,” he said.
Laing+Simmons opened their first office under the new management of Independent Property Group on the weekend.
Principal and owner Alex Udler launched the new Laing+Simmons Randwick office with a bang on Saturday night, with over 40 clients, friends and family digging deep to raise over $5,000 for the Sydney Children’s hospital.
“The night was a huge success. We held an auction of some great sporting memorabilia that raised a sensational amount,” Mr Udler told Real Estate Business.
The guests on the night included former and current NRL stars Bryan Fletcher and Anthony Minichiello, along with Independent Property Group CEO John Runko and Mr Platis.
“We had our first office opening in the new world of Laing+Simmons this weekend and it was a fantastic night,” Mr Platis said.
Mr Ulder said he was confident in the direction Independent Property Group was taking with Laing+Simmons. “I think it is the best thing that could have happened to our franchise,” he said.
“They dominant more than 40 per cent of the market share in Canberra so I am very excited to see what they can bring to our business.”