Harcourts acquisition forms largest group

Harcourts acquisition forms largest real estate group in Otago

17 September 2010: A successful Queenstown-based company currently operating three Harcourts offices in Otago is set to become the largest real estate group in the region when it acquires the Harcourts Dunedin and Balclutha franchises next month.

The 1 October acquisition by Highland Real Estate Group Ltd, formerly trading as Queenstown Real Estate Ltd, will create Otago’s largest real estate company with team of more than 70, including over 60 sales consultants, based across Harcourts offices in Queenstown, Arrowtown, Cromwell, Dunedin and Balclutha.

Highland Real Estate Group Ltd General Manager Kelvin Collins says he and his business partners are excited about expanding their operation and working with the Harcourts Dunedin and Balclutha teams to provide current and future clients with the best possible service and results.

A Harcourts’ franchise owner for more than 15 years, Mr Collins says within the real estate industry mergers and acquisitions are increasingly common as business owners try to achieve the economies of scale that allow them to deliver more to both their teams and clients.

“For example our move to form the largest real estate company in Otago means our staff and in turn their clients will now be able to benefit from the shared knowledge, skills and databases of a much larger team and also from the economies of scale that will allow us to have a dedicated auction manager, multiple auctioneers, full-time marketing and management support and more training.

Having built an award-winning business that dominates the Queenstown and Cromwell markets, Mr Collins says he keen to see Harcourts’ Dunedin and Balclutha teams achieve similar levels of success and he is confident that can be achieved.

“Our company has a proud history in the residential, rural and tourism/development sectors of the property market in Queenstown, Arrowtown and more recently Cromwell, and we now have the opportunity to combine what we’ve learned there with the strengths and experience of the Dunedin and Balclutha teams to deliver something special to buyers, sellers and tenants in these two areas,” he says.

Meanwhile Mr Kennedy, who has made significant contribution to Harcourts during 18 years with the group including 12 as a franchise owner, says winning the 2010 REINZ National Real Estate Auctioneers Championships in July helped motivate him to make the move to focus full-time on auctioneering.

“While I’ve enjoyed being a Harcourts business owner the management responsibilities that go along with that haven’t allowed me to focus as much as I would like on auctioneering, which I’m passionate about.

“Winning the national competition earlier this year and then going on to make the finals of the Australasian championships this week has boosted my confidence and improved my profile and credibility as an auctioneer – so it’s the ideal time to take this step and build on that,” he says.

“From now on I’ll be able to work full-time auctioneering for Harcourts, with ownership and management moving into the capable hands of Kelvin and his partners - including experienced realtor Geoff Stevens who is relocating from Queenstown to manage the Dunedin branch.”

Harcourts New Zealand CEO Hayden Duncan says Harcourts encourages people to grow and develop as real estate professionals and he is delighted to see Mr Kennedy pursuing his goal of becoming a full-time auctioneer.

“Equally, it’s pleasing to see some existing Harcourts business owners pursuing an opportunity to expand their successful operation, with benefits for both their team and clients set to result.”

ENDS

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