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Since officially merging 10 months ago, a multi-office group operating in Sydney’s west reports having transacted $1 billion in sales.
McGrath West | North West | Hawkesbury Group, led by Kon Stathopoulos, officially surpassed $1 billion in transactions with the sale of 21 Arnett Street in Pendle Hill.
McGrath West agent Arthur Kolovos handled the sale for seller Slav Visevic, who was happy that selling the property he’d held for more than 10 years meant something to the team.
“I bought the land and then built on it back in 2009,” he explained. “I’ve held it for 13 years; it’s been a good investment.”
While the milestone is significant, Mr Stathopoulos noted that it’s not all about numbers for the team.
“It’s about helping people on their property journeys,” he said of their guiding aim.
“It validates all the work we’ve been doing in the community for the last 10 months. It shows that when you have the right people with the right attitude and the best strategies, you get extraordinary results.”
And he noted the all-around effort that reaching this achievement required from not only their agents, but support staff as well.
“We have outstanding agent and marketing services teams that support our agents to give them the time they need to service their clients,” he said, noting that they were well ahead of their goal of hitting the $1 billion mark by the end of the financial year.
The expanded group has reportedly sold 838 properties so far in the past 10 months, with an average sale price of $1,197,000.
Foundation partner Amit Nayak, who specialises in the Parramatta area, has transacted 168 of those sales totalling $150 million in value since July 2021. That amounts to one sale every 48 hours.
Meanwhile, co-foundation partner Joel Hollings, who handles properties in the Blacktown region, has sold 138 homes for a total value of $135 million, or roughly one home every three days.
With the cash rate rise and subsequent increases to mortgage interest rates this week, Mr Stathopoulos believes his market will see some impact towards the tail end of 2022 and into 2023.
“There has been a slight slowdown in buyer activity of late, however, we’re still transacting the same number of deals as three or four months ago,” he said. “It’s just a bit harder.”
Even so, the group head estimates they should finish out the financial year by hitting upwards of $1.2 billion or more.
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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