Franchise announces fifth business in past 12 months

Franchise announces fifth business in past 12 months

26 August 2015 by Nick Bendel 0 comments

Hockingstuart will now have the chance to market to hundreds of extra landlords after acquiring a strata management firm.

The Victorian group has made its fifth diversification play over the past 12 months by acquiring Tritin Property Services, which will be rebranded as Hockingstuart Strata.

Hockingstuart managing director Nigel O’Neil said the group’s agents and property managers would gain an additional lead generation channel and referral rewards.

Tritin services 21 buildings and about 1,500 landlords across greater Melbourne, according to Mr O’Neil.

“We have 50 offices that have developer relationships, so there'll be leads coming into that business from those relationships,” he told REB.

“We expect we'll get a lot more opportunities from leveraging our brand into the strata market, and have a heap of rentals and landlords in the strata world exposed to our brand and want to do business with us.”

Hockingstuart has also added broking, connections, recruitment and removals businesses during the past year.

“With customers becoming increasingly time-poor and the rise of other players attempting to capitalise on the buoyant market, offering a one-stop shop for home hunters, as part of our commitment to customer service, will be key to ensuring the longevity of our business,” he said.

Mr O’Neil said the aim of the diversification strategy is to increase the group’s revenue and market share.

“We've already seen how this strategy has significantly impacted our core business, with the company recording its biggest year to date in 30 years of operation, totalling more than $4.6 billion in sales and increasing property listings by almost double,” he said.

“These results are not a coincidence, but a result of growing our market share by continuing to foster relationships with customers through outstanding customer service and a diverse product offering.”

[Related: Hockingstuart invests heavily in mystery shopping]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

In this episode of Secrets of the Top 100 Agents, host Tim Neary is joined again by William Phillips to discuss the real estate database and...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?