Ausnet Financial Services Limited (ASX: AU1) has revealed a significant acquisition at the same time as it has announced that its Western Australian business has led the rankings in that state for the second consecutive months.
For the month of August, based on independent analysis from the Real Estate Institute of Western Australia (REIWA) analysis, The Agency, which are operated under license from Ausnet, was recognised as the Top Office by Listings Sold, selling 47 properties worth $30,276,000 for the month.
In addition, The Agency had two agents ranked in the top 10, with The Agency’s Adam Naumovski ranked as the Top Assisted Salesperson by listings sold, selling 10 properties with a combined value of $4,312,000 for the month and Daniel and Chelsey Grant ranked fifth, with six sales worth $7,450,000.
Ausnet Managing Director, Paul Niardone, said this is a significant achievement for a company less than two years old.”
“Our sales agents are ranked amongst the best in the state, and we continue to outperform our peers, which only bodes well for the future as we continue to roll out our innovative model,” Mr Niardone said.
Top Level Pty Ltd, which Ausnet has entered into a License Agreement and Option to Purchase Agreement with, has confirmed the acquisition of iconic, family-owned and operated Sydney agency S J Laing & Son Pty Limited, which has been trading as Raine & Horne Bondi Junction and Coogee/Clovelly for the last 23 years.
The Laing family’s real estate business has been one of the most successful in Sydney, with major institutional, commercial and residential clients, along with one of the largest rent rolls across the Eastern Suburbs.
Tony Laing has consistently ranked in Raine & Horne’s top ten sales agents nationally and Michael Laing’s commercial operation holds a significant market share within the region.
Along with their 40 staff, the Laings will continue their key roles within The Agency’s Sydney operation. Tony Laing will maintain his roles in sales and overseeing residential property management.
Geoff Laing will continue his commercial and general management role, while Michael Laing will be heading up The Agency’s commercial sales and leasing division in NSW.
The addition of the commercial sales and leasing arm under the experienced guidance of Michael Laing, is one of the most important changes to The Agency’s NSW offering to date.
Through this acquisition, The Agency on the east coast of Australia now boasts:
For the months of July and August The Agency east coast sold 66 properties at a value of $161.55 million.