RAINE & HORNE ACQUIRES LOGAN FIRM
Written on the 2 September 2014
RAINE & Horne continues its ambitious expansion plans, after acquiring a new office in Logan.
The real estate agency has boosted its network in Queensland by 20 per cent in the past year, with plans to open six more offices in coming months.
Independent firm Logan Central Land & Home Realty will be rebranded as Raine & Horne and continue to operate from its premises at Wembley Road.
Raine & Horne Queensland general manager Steve Worrad says the brand is attracting independent firms, as well as offices attached to competitors.
“Independents are joining Raine & Horne because there is a significant bank of trust in a brand that has been around for 131 years,” Worrad says.
“Real estate agents are also recognising that with our systems, marketing, technology, recruitment, retention and training, we do all the heavy lifting for them, enabling them to do what they do best – and that is to sell and manage real estate.”
Principal Debbie Gray leads the newly franchised office and says the brand familiarity of Raine & Horne will appeal to consumers in the region.
“Since the GFC, the Logan Central market has been a bit flat, yet low interest rates and the region’s affordability are combining to draw yield-hungry investors to entry-level properties,” Gray says.
“Older style two bedroom apartments start from $140,000 and can generate weekly rents of $250 or more, which makes Logan Central a target for investors.
“Moreover, the large majority of investors are from interstate, driven by Logan Central’s affordability, excellent investment yields and vacancy rates of around two per cent.”
Looking forward, Gray says infrastructure developments in the area are also attracting investors.