New principal thinks ahead with long-term succession plan

An agent who bought out his principal after 22 years at the business has already started thinking about grooming successors.

Raine & Horne Young agent Graeme Schneider took over the regional NSW business earlier this month, with outgoing boss Chris Slater staying on for the next month or so as part of the handover.

Mr Schneider told REB that he has plans to expand and then possibly pass on the agency within five years, which is also the period covered by the lease.

“In that time, I’ve got one employee for sure and possibly two employees that I’ll be grooming to be heirs apparent and running the business with me in partnership,” he said.

Mr Schneider, who is 60, said planning for a succession well ahead of time would make it easier to move on when he eventually decides to retire.

“In the interim, if I need to expand or maybe purchase a rent roll, I’ll have an equity partner to be able to do that with,” he said.

“It gives them incentives to stay in the business. If they didn’t see a future in the business, they could be open to being poached.”

Mr Schneider joined Raine & Horne Young in 1993 and has worked in sales the entire time.

Head office has helped make the step up to ownership as smooth as possible, according to Mr Schneider.

“Raine & Horne’s internal communications portal, Scout, and its business operating system, rhCompass, deliver timely information that has been a huge help in assisting me transition to the ownership of Raine & Horne Young,” he said.

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