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The company’s chief executive, Geoff Lucas, takes on an additional role to further the group’s 2022 goals for growth.
Mr Lucas has been appointed managing director of the ASX-listed real estate business – a move that shifts the position away from founder Paul Niardone’s purview.
Looking to focus on growth in the east coast markets, The Agency chairman, Andrew Jensen, said the board, along with Mr Niardone, felt it was vital to have the company’s managing director based on the eastern seaboard.
Not wanting to uproot his young family, Mr Niardone will stay in Western Australia, where he takes up the position of executive director.
Mr Lucas, who joined The Agency in March 2021 after stints as CEO and chief operating officer at McGrath, will set his sights firmly on expansion opportunities in NSW, Queensland and Victoria, where he’ll continue to apply the strategy of keeping overheads low with agents working out of large, centralised hubs.
“Substantial growth opportunities remain across the eastern seaboard for an increased presence, and I look forward to leading The Agency’s team as we continue to grow into new geographic regions,” Mr Lucas said of his appointment, which takes effect on 28 January.
Mr Jensen noted they would be looking to mirror some of the great gains made in Western Australia under the management of Mr Niardone.
“Geoff’s appointment as managing director and CEO comes at a time when we are focussed on rapidly increasing our business on the east coast, having successfully established The Agency Group in Western Australia, where we have a market share of approximately 5 per cent,” he said.
“With Geoff’s vast industry experience, we are confident he and our leadership team will be able to successfully drive this growth.”
Mr Jensen conveyed the board’s gratitude to Mr Niardone for his vision and the integral role he played in building the company.
“Paul has steered The Agency through both highly successful and challenging times. He has built one of Australia’s leading real estate firms with over 340 agents nationally, selling 4,964 properties in FY21, worth $4.8 billion,” he said.
The network has recently seen success building out both a financial services division and SLP real estate business in West Australia. Expanding those operations across the country will now be Mr Niardone’s main objective.
“Having overseen the growth of The Agency brand nationally, we look to the key role Paul will play in overseeing the national growth of our SLP brand, together with the role he will play in driving financial services and a range of technology-based initiatives,” Mr Jensen said.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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