Two Armidale agencies have officially merged their offering, with goals to expand local market share by 50 per cent over the next six months.
Ben Saxby of Professionals Armidale and Stephen Ramage of Ray White Armidale confirmed they have merged their agencies under one banner. The merger sees Mr Saxby and Mr Ramage become co-principals of an expanded Professionals Armidale office.
Mr Saxby said the combined offering gives the pair around 30 per cent market share in the New England region, with plans to expand that by 20 per cent over the next six months.
“We are looking to grow that to 50 per cent over the next six months,” Mr Saxby said.
“The merger has created a more rounded agency with capacity to do everything from storage sheds, commercial, strata, holiday letting, property management and sales.
“We are geared up for growth with enough property managers to add another couple of hundred properties to our rent roll. We also have the largest sales team in town which will help us build momentum.”
Mr Ramage said the move comes at an opportune time for the pair, who wish to capitalise on Armidale’s burgeoning real estate market.
“Sales and rentals are both doing very well in the current market, so this is the perfect time for us to bring our teams together,” Mr Ramage said.
“Under the Professionals brand, we have enormous capacity to grow the business and we are already well on the way to achieving our internal goals.”
Mr Saxby noted the opportunity is furthered by vast economic activity in the regional hub at the moment, including a thriving education sector and the relocation of the federal government’s Australian Pesticides and Veterinary Medicines Authority (APVMA).
“There is a great deal of economic activity supporting the property market in Armidale at the moment,” he said.
“We may not have experienced the capital growth of big city markets, but that makes us a very stable and affordable market. A low vacancy rate, below 2 per cent, also appeals to investors who have a keen eye for cash flow.”