McGrath Estate Agents has now established a foothold in Melbourne after convincing an office from a rival group to rebrand.
The St Kilda office of boutique group Hodges has become McGrath’s 78th office in Australia and its first in Melbourne.
McGrath said it is “also in the process of opening a further three [Melbourne] offices early in 2016”.
Victoria is the company’s fourth market after NSW, Queensland and the ACT, and comes just one month after it said it would move into Victoria “in the near term”.
McGrath St Kilda will have 23 staff and will be led by Josh Stirling, Shane Goldfarb and Michael Townsend.
Mr Stirling told REB that he and his partners had enjoyed six and a half good years with Hodges, but that they regarded the McGrath move as “an unmissable opportunity” for the next 30 years of their business and careers.
“We don’t think Melbourne, to the best of our knowledge, has anything like McGrath. The calibre of offices that will be joining is also very exciting for us,” he said.
“We’re the first cab off the rank, which is something we’re very proud of, but we know there are going to be more joining us in the new year and moving forward.”
McGrath chief executive John McGrath said expanding into Melbourne was a natural progression for the company given that the city is “arguably one of the best real estate markets in the world”.
“In terms of size, it is second only to Sydney, and we believe it presents a wonderful opportunity for our company to bring a very high level of customer service and a broader marketing reach to an already very savvy consumer,” he said.
“We have taken our time in selecting franchise partners that share our core values for excellence as well as the desire to grow their own businesses and market share.”
The St Kilda office is the third site that McGrath Estate Agents has added in the past three weeks, after openings in Newtown, Sydney, and Springwood, Brisbane.
The Newtown office is the company’s fourth in Sydney’s inner-west region, while the Springwood office is the company’s eighth in Brisbane and 16th in Queensland.
[Related: McGrath makes its stock market debut]