CANBERRA based Independent Property Group has acquired renowned Sydney real estate agency Laing+Simmons.
Established by Doug Laing and Spencer Simmons in 1967, Laing+Simmons was purchased by previous owners Robert Farrell and Tony Anderson in 1997.
Laing+Simmons general manager Leanne Pilkington said the change in ownership represents an exciting new phase for the company in terms of new growth opportunities.
“The new relationship with Independent will create compelling benefits to Laing+Simmons, including increased scope to expand our network of offices, a renewed platform to support the growth of individual franchisees’ businesses, as well as increasing our overall market share,” she said.
With a long history in Canberra spanning more than five decades, Independent holds a dominant market share in the Canberra market and has been searching for opportunities to expand its reach into NSW.
Independent CEO John Runko said the established Laing+Simmons brand will be retained for the long term and the existing Sydney based Laing+Simmons head office team will remain unchanged under the leadership of Pilkington.
Pilkington said the landscape for real estate franchising in Australia is undergoing change.
“The biggest brands have reached a saturation point and must look to new revenue streams for growth, while smaller boutique brands which provide franchisees with greater autonomy to grow their businesses, and which don’t crowd their franchisees out with competing offices, increase their market share.
“While we are committed to growing the Laing+Simmons network in Sydney and elsewhere in the state, we are not interested in becoming the largest real estate office network for the sake of a number. Instead, under Independent’s ownership, we are focused on providing the best advice, training, skills, performance culture and access to shared services that will enable our franchisees to grow their businesses,” she concluded.
Property Review
