Offices from two major networks have announced they are joining forces to take on one of the country’s hottest real estate markets.
Raine & Horne Mermaid and former rival LJ Hooker Mermaid have merged, creating an expanded Raine & Horne sales and property management operation to service the southern half of the Gold Coast’s tourism strip.
Former principal of Raine & Horne Mermaid Kae Beadman will stay on as a sales agent, according to new principal Anthony Steinberg.
Mr Steinberg will join Raine & Horne, having been with his previous group, LJ Hooker, for 12 years.
“The company has not changed hands once since it launched in 1883, so it has significant leadership stability, which is a rare commodity these days,” Mr Steinberg commented, noting that Raine & Horne Mermaid’s family values attracted him to the company.
Raine & Horne executive chairman Angus Raine said the merged offices will have a stronger market presence than that of the two smaller offices.
“This will offer a broader choice of real estate solutions and expertise to owner-occupiers and investors,” Mr Raine said.
“After 27 years in the area, it’s pleasing that Kae Beadman has decided to stay on in a sales role and I’m sure her knowledge and familiarity with Raine & Horne will be a significant help to Anthony, who is a Mermaid Beach local,” he said.
“It’s a combination that I’m sure will make a significant mark on the local real estate market.”
Mr Steinberg pointed out that the merger comes at an opportune time since the Gold Coast is currently “one of the hottest property markets” in the country, with days on market averaging fewer than 14 days.
“The Commonwealth Games is creating plenty of good consumer and business sentiment at a time when real estate values and lower yields in Sydney and Melbourne have local and overseas investors focusing on the Gold Coast,” he said.
[Related: Major real estate networks join forces]