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Property management firms now have the chance to tap into an unusual source of new landlords – a rival organisation.
LJ Hooker yesterday launched its Sydney Buyers Agency, which has promised to work with other franchise groups and independent agencies.
Director Kiril Ruvinsky told Residential Property Manager this business model offered great potential for principals to grow their rent rolls.
“One of the major benefits for principals who deal with us is that if they refer someone to us, that person is then referred back to them for their property management team,” Mr Ruvinsky said.
He said the new service will allow the network to keep clients throughout the full property cycle – from buyer to landlord to seller.
“[However], we are going to be dealing with non-LJ Hooker offices as well, so we do get support from other brands.
“If someone is referred by them, it goes back to their property management book. So we will do the right thing in that instance.”
LJ Hooker Sydney Buyers Agency is focusing on the north of Sydney and has three staff in addition to Mr Ruvinsky: one buyer’s agent, one researcher and one administrator.
Another two buyer’s agents will soon come on board, according to Mr Ruvinsky.
“Our plans for the rest of Sydney are unfolding as we speak,” he said. “We wanted to get the infrastructure in place first, which we’ve pretty much done.
“We’re now in a position where we can roll it out to the rest of Sydney, then in following months we’ll look at other states because there’s certainly a demand for it there as well.”
LJ Hooker Sydney Buyers Agency offers an end-to-end buying service, or one-off options such as auction bidding and property hunting.
[Related: Starting a rent roll from scratch]
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