A leading agency has recruited a prominent PM executive to help it add another 4,500 managements to its rent roll in the next 18 months.
Simon Cox recently joined Coronis and will manage nine offices across south-eastern Queensland.
Mr Cox told Residential Property Manager his long-term plans centred on expanding Coronis’ reach.
“We want 10,000 managements and we are well on our road to getting there – we certainly will achieve that in 18 months,” he said.
“We have to make sure we are aggressive, but we are also thinking it through.”
Mr Cox said the large increase in rent roll growth would be achieved largely through acquisition.
“My plans and strategies are really centred on an acquisition coming up in the next three weeks, which is in southern Brisbane,” he said.
“That area is going to be a big focus for me because it is a large business we are buying.”
He said Coronis is also finalising another acquisition on the Gold Coast, a region in which the agency is looking to expand.
Mr Cox said Coronis has other targets in mind, although it also plans to balance its acquisition-driven expansion with organic growth.
He added that BDMs are a “necessity” within the company and will also be contributing to rent roll growth.
“More BDMs would be great, but we are making sure we put them in the right places,” he said. “Then the acquisitions will come in due course in those areas.
“BDMs make a substantial contribution to what we do and form a very integral part of the business, but our acquisition plan is also very important.”
Coronis managing director Andrew Coronis said the agency derives about half its income from its property management division.
“We are incredibly proud of this, considering it usually only represents around 20 per cent of income for real estate agencies.” he said.
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