With a team of highly-experienced executives and sales agents, a new office on Australia’s east coast and significant high-end properties on its list in sought-after suburbs of eastern Sydney, Ausnet Financial Services is certainly one company to keep your eyes peeled for in 2017.
The company, a disruptive real estate and financial services company that is using technology to create efficiencies and enable and create large distribution channels, has received much fanfare of late after announcing a significant expansion of its direct-to-market real estate company, The Agency, from Perth into the eastern seaboard.
In a short space of time since listing in late December 2016, The Agency has grown both organically and via the planned national roll-out of the business, forming strategic partnerships and development of their valued partner program.
In January this year, Ausnet entered into a licence agreement and an option to acquire eastern seaboard real estate business Top Level Real Estate. At the time, Top Level consisted of a team of 17 well respected and known sales agents including ex-McGrath Real Estate executives and agents Matt Lahood, Steven Chen, Maria Carlino, Thomas McGlynn, Ben Collier and Shad Hassen.
Top Level has also executed non-binding exclusive term sheets to acquire two established real estate sales and property management businesses that between them incorporate five offices, 23 agents and approximately 3,700 properties under management.
Ausnet’s objective is to reach 600 sales agents nationally with a target of 100 by June this year. In Western Australia, The Agency ranked third highest selling office in the state and had the number 1 sales agent in February and currently has 35 agents with an aim to recruit 100 sales representatives in the state delivering over 1,000 property transactions per year.
Ausnet managing director Paul Niardone said the company’s hidden gem is its valuable database of contacts which the company is building up.
“If every rep brings us on average 2500 contacts on their database and we are seeking to grow to 600 reps nationally, that is 1.5 million people. If we were valued like a tech company’s database/subscribers at a value of $30 per subscriber, that would value our database alone at $45 million,” he said.
“Our focus is to drive revenue and EBIT along with strong distribution and sales channels and cross selling and to build multiple revenue streams in the process and assets such as property management, mortgage finance book, general insurance book and financial planning book.”
Commenting on the transaction with Top Level, Mr Niardone said it demonstrated The Agency’s commitment to drive growth and expand into the eastern states.
“To have attracted such high quality executives and agents to The Agency is testament to what we have achieved with our unique real estate model and our aggressive plans to roll it out across Australia,” he said.
“These agents have been approached by virtually every major real estate company in Australia and have decided to join The Agency.”
Since its expansion in late January, and up until 29 May 2017, The Agency on the East Coast has sold 63 properties valued at $163,853,000.
“The sale of 63 properties, valued at over $163 million, in less than five months is a significant result for The Agency in Sydney and highlights the calibre of our sales team and properties we have listed,” Mr Niardone said.
As part of its national roll-out, the company is also seeking to launch in Brighton and Albert Park in Melbourne as well as Queensland within the next six to eight weeks.
What also sets Ausnet apart is that it is backed by Finsure Group, one of Australia’s fastest growing retail finance brokerages writing over $1 billion in new mortgages every month across 850 brokers.
