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‘Days on market were destroying our business’, says Ray White Sydney boss

20 August 2019 Reporter
Ray White

Hundreds of Ray White Group members have met to “clear the whiteboards” and reflect on strategies that worked last financial year, and the strategies that will be ditched for FY20.

Speaking after Ray White’s Ignite 2019 conference, group managing director Dan White said despite record listings growth for the network in the last 12 months, renewed market strategies are necessary for the coming financial year.

“We’re now at 11.5 per cent across Australia and New Zealand. But that doesn’t entitle us to anything going forward,” he said.

“A good year last year doesn’t mean a good year this year, so we clear the whiteboards and start again, theres no room for complacency and we have to ensure that our clients remain at the very epicentre of everything we do. We must keep trying new things to benefit our customers.”

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What to keep, what to ditch

Reflecting on the strategies and approaches that have fallen flat in the months and years gone past, Ray White NSW CEO Jason Andrew shared the keys to his success in the last year.

“Days on market were destroying our business. This is a market that rewards prospecting and rewards businesses that have stock,” Mr Andrew said.

“We recently had an auction that sold $500,000 over reserve with 25 registered bidders on the day. We’re seeing more and more of these types of results.”

Ray White NSW Metro CEO Andrew McCulloch, who is bullish about growth prospects, also shared parts of his marketing and resourcing plan for the coming year.

“The great Australian love affair of real estate is back and the depth of resources we now have at a corporate level for our businesses is probably at a level that has been unmatched for some time,” he said.

“For the first time ever, we’ve moved into TV advertising. This has given people more confidence in our brand and were getting in front of more eyes than ever before.

“Weve been running plans for a number of our businesses and have been able to look at what they want to achieve and how they want to achieve it.”

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‘Days on market were destroying our business’, says Ray White Sydney boss
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