Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Latest


Must Read


PM Tech Growth Sales Marketing Industry

Our Events


New Broker Academy 2022

The Adviser’s New Broker Academy aims to equip prospective brokers with the knowledge, skills and mindset to succeed...

LEARN MORE
VIEW ALL
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.

‘Skin in the game’: Network members buy business

By Grace Ormsby
22 January 2021 | 1 minute read
Leanne Pilkington new2 reb

A New South Wales franchise network has been purchased by a group of its members, with a number of high-profile corporate representatives and agency principals now named as owners.

Team members working within and under the Laing+Simmons Corporation have agreed to purchase the company from its current owner, Dexar Group, for an undisclosed sum.

The New South Wales-based boutique real estate franchise’s managing director, Leanne Pilkington, and long-serving principals D’Leanne Lewis, Ray Fayad and Nicholas Efrossynis are among the 15-strong shareholders of the new business’s ownership structure.

Advertisement
Advertisement

Weighing in on the decision to buy the business, Ms Pilkington said that the decision to take over ownership of the brand demonstrates the value and belief in the brand held by members.

“The purchase of Laing+Simmons by network members highlights the confidence we have in the business and the potential for growth we see in the future,” she said.

“When the opportunity to acquire Laing+Simmons arose, the demand among franchisees was strong and the offer was fully subscribed quickly, demonstrating the belief in the brand.”

According to the managing director, who is also the current president of the Real Estate Institute of New South Wales, the real estate industry is undergoing rapid evolution, “which means franchising needs to evolve as well”.

“No one is better placed to understand the needs of today’s business owners than agency principals, who operate at the coal face every day,” she stated.

Ms Pilkington said the new shareholding group is very diverse, in relation to age, location and gender, which “will ensure a holistic direction is set for the business which welcomes and benefits a broader demographic of network partners and their teams”.

“This diversity will underpin our future growth as we look to grow the Laing+Simmons network in select metropolitan and regional locations in 2021 and beyond.”

She added that the internal acquisition “means we have skin in the game”.

“We believe so strongly in the brand that we acquired it. Our future partners and office principals can be confident in our commitment to support them and the growth of their business with a view to helping them create a long-term asset for the future,” she said.

The managing director said the new ownership model provides a solid platform for the brand’s future growth: “The ambitions of ownership, our existing franchisees and those we welcome in the future are completely aligned.”

A statement announcing the purchase said that Laing+Simmons will continue to operate using the franchise model under the new ownership arrangement.

‘Skin in the game’: Network members buy business
Leanne Pilkington new2 reb
lawyersweekly logo

ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.