New McGrath CEO Geoff Lucas is cautious in his optimism about the company’s recovery but confident about restoring its value, as he embarks on leading it back to profitability after a tumultuous two years that has seen its star fall to unprecedented lows.
“As a company, we are committed to productive, ongoing communication with our franchisees and leadership team. We feel this is essential as we share the journey to restore value in McGrath Limited,” Mr Lucas told REB, in the wake of the company’s leadership forum in Melbourne this week.
“We have had a very productive two days with our key franchisees and leadership team.”
Of his first 100 days in the new role, Mr Lucas said that his immediate objective is to get the company back to its core strengths.
“An immediate objective is for the company to continue to be an enabler in providing the very highest quality service and results for our clients in their real estate transactions.
“It’s important to shift the recent focus from corporate to the wonderful results our team are delivering to their clients in the field. In doing so, I want to ensure the market of vendors, buyers, landlords and tenants are able to recognise our unrelenting focus on quality service and results.”
Mr Lucas said that he is up for the job.
“I’m delighted to have been entrusted with the leadership of this wonderful organisation, which is a leader in Australian real estate with incredibly talented people.
“Importantly, we will continue to strive to be an organisation where those who wish to be the very best in their particular field are attracted to work.”
More than 100 of McGrath’s executives and leading franchisees gathered in Melbourne this week for the annual two-day Leadership Conference.
This was the company’s largest leadership event to date, and it was led by Mr Lucas, founder John McGrath and chair Peter Lewis.
Mr McGrath gave an address on the future growth and success of the company.
“With a fresh plan in place and exciting changes at the leadership level, we are now in a position to reset the business and maximise our success for the future,” Mr McGrath said.
“It’s incredibly important for our leadership group to be here in the one place, sharing ideas, insights and knowledge.”
Many of the company’s longest standing leaders were in attendance, including foundation principals Jaimie Woodcock (McGrath Central Coast Group), Dean Mackie (McGrath Lower North Shore Group), David Mills (McGrath Northern Rivers Group), and Kieran Bresnahan and Matt King (McGrath St George group).
McGrath 23-year veteran and general manager of company-owned sales Adrian Bo said that the value of bringing the leaders of the business together should not be underestimated.
“The McGrath leadership conference has provided a great opportunity for our franchise partners and company-owned leadership team to come together,” the GM said.
“There have been terrific insights and sharing among the network and our colleagues throughout NSW, ACT, Victoria and Queensland. The conference has provided an invaluable opportunity to pause from working ‘in the business’ and to reflect ‘on the business’ and seek opportunities for growth and evolution.”
The forum featured a line-up of 17 speakers including REA chair Hamish McLennan, author Cyril Peupion, marketing expert Penny Burke and an all-female panel.
McGrath has 95 offices across the east coast of Australia. It is celebrating 30 years since first opening in Sydney in 1988.