Yong Real Estate's recent ranking as one of Queensland's top private companies is one step towards becoming "the largest franchise in the world", founder Peter Huang said.
In the latest Queensland Top 400 Private Companies List, which is compiled by Queensland Business Review in conjunction with PwC,Yong Group & Yong Real Estate advanced its position from 58 to 32 in 2011, despite the challenging real estate market.
“This jump up in the Queensland top companies list certainly shows we are working to a unique and successful model for today’s environment,” Mr Huang told Real Estate Business.
“The overall market is challenging but we are fortunate to be linked with the international market, especially the Chinese market, and this gives us an advantage.
“There is a fast growing environment in China and a lot of Chinese buyers have money they want to invest.”
Mr Huang, who has been in the industry for 19 years, has just finished translating his autobiography, The Australian Dream & $1 Properties, into Mandarin and is planning to launch the book in China this year. He then plans to export the Australian franchise system to China and the rest of the world to expand the Yong System globally.
“We plan to make Yong Real Estate the largest franchise in the world. We see Yong as an international brand and our target is to employ 300,000 people,” he said.
“We are a multifaceted business that gives our clients 100 per cent solutions across all areas of real estate.”
Mr Huang’s plans for expansion occur at the same time listings website, Juwai.com, which is aimed at the Chinese market, began a concerted push to attract listings from Australian agents. The company said thousands of interested buyers visit the website daily, most of which are based in cities located throughout China, as well as Singapore and Taiwan, as reported by in January Real Estate Business.
Mr Huang said the 2010/2011 financial year was one of the best years in his history, although he believes 2012 will be even better.
“The market overall has slowed down last year because of the floods but we will start to see it pick up as prices become affordable,” he said.
“It will still be challenging, so in order to grow we will focus on a ‘super office’ concepts. If one part of the business falters, another part can cover it – it is all a part of the 100 per cent solution.”