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One of Australia’s leading real estate brands is celebrating a significant international milestone this month, turning some early setbacks into lucrative business opportunities.
The Ray White Indonesia network, led by founding partners Johann Boyke Nurtanio and Sari Dewi, is celebrating its 20th anniversary, after opening 160 offices in the country.
“When the government deregulated the law that allowed privately owned companies to conduct auctions, we were the first to register for the licence and began calling auctions straightaway,” Mr Boyke Nurtanio said.
“We held our first auction in late 1997, which was successful and very well-received, but the very next day came the news that 16 banks were to close down and for most people the future seemed uncertain.
“We presented to the central bank offering auction as the best strategy in disposing of the bank’s assets. With that, we were appointed by two banks in liquidation to auction all their property assets.
“After being successful in auctioning for those banks, we gained our reputation as the pioneer of auctions and most successful auction house. The rest is history.”
Ray White chairman Brian White said the group is the market leader in residential real estate in Indonesia by a considerable margin.
“It’s been a delight to realise that this huge nation is comfortable and supportive of an Australian brand operating a crucial service in the lives of its citizens,” Mr White said.
“We suggest that this achievement is not irrelevant to the ambitions of Australians generally to be pertinent and become integrated into the nations of our north.”
After launching in 1997 with six offices, Ray White Indonesia grew to 40 businesses in just three years. Today, the network has 160 offices located in 25 cities across 17 provinces and more than 2,000 salespeople.
It aims to own 250 offices by 2020.
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