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Ray White has grown by a record number of new offices after a “stellar” performance attracting some key businesses to its growing stable of more than 1,000 offices this year, according to network development CEO Andrew McCulloch.
Mr McCulloch confirmed that 2017 was a record year for growth, with the group signing more than 106 new offices. He said that this included 74 new businesses and 32 existing businesses that underwent ownership restructures.
But Mr McCulloch said that the network is not interested in getting bigger simply for the sake of it.
“We are only chasing quality leadership and market share,” the CEO said.
“Most franchises charge similar fees, but hands down, Ray White offers the best value back to its owners. We have the most comprehensive franchise offering in the market — no one gives more value than Ray White.”
Mr McCulloch said that during the year, well-known directors Richard Harding and Geoff Smith in the Lower North Shore of Sydney rebranded to Ray White, as did Vivien Yap in Perth and Andrew McSweeny in Brisbane.
“None of these key offices needed to rebrand, but they all became game changers for us as these were all businesses on the incline,” Mr McCulloch added.
“Their directors looked to us to future-proof their businesses and help them grow for the next 20 years or more.”
Mr McCulloch said that Ray White was particular in its recruitment criteria.
“I liken this industry to working in Hollywood, as everyone wants to be a real estate agent as they see them drive flash cars and wear nice suits, but not everyone will make it.
“The people who make it are highly driven individuals. It’s a service-based industry and the high-performing agents work very long hours.
“There’s a huge percentage of people who won’t succeed, and at Ray White, our retention rate is better than the industry’s 30 per cent. We look for those with drive.”
Mr McCulloch added that Ray White provided stability and leadership.
“There’s almost 500 corporate support staff on the White family’s payroll, all highly skilled specialist professionals whose function is to support the network.”
Mr McCulloch said that his recruitment focus in 2018 will be on Melbourne.
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