Australian real estate giant hopes to shake up NZ market

Although the New Zealand residential market is facing a raft of challenges, Australian real estate powerhouse Raine & Horne is making its first foray into this country and opening four offices in the North Island by the end of this month.

Thursday, April 13th 2023, 10:32AM

by Sally Lindsay

The agency is also on the acquisition trail to support its aggressive expansion. It is also aiming to open in the South Island later this year.

Executive chairman Angus Raine, the fourth generation of his family to lead the firm since 1883, says the launch follows extensive consultation with real estate principals across New Zealand, revealing an overwhelming appetite to align with an alternative network.

Raine and Horne is one of the southern hemisphere’s oldest continuously operating firms. It has more than 300 offices worldwide, including Asia, the South Pacific, India, Australia, and the Middle East.

Raine says there is significant appetite for another major real estate brand in New Zealand, especially in this softer market where many, particularly independent businesses, are increasingly realising there is great value and safety in being a member of a major real estate group.

“We are a global leader in Proptech, marketing, training and agency systems, so it stands to reason that we are taking an aggressive approach to our New Zealand expansion.

“Given our affinity with New Zealand and the similarities in how our two countries transact real estate, we have been eyeing an expansion across the Tasman for some time as a natural next step in our evolution. We feel the timing is right for us to support the real estate industry and property consumers.”

He says the agency can quickly adapt to a changing market and make quick decisions. “We don’t need a complex boardroom dependent on shareholder votes to make decisions.”

Experienced real estate operator Keith Niederer has been appointed as the agency’s New Zealand network manager to lead the expansion.

Niederer has held senior executive positions with other real estate groups in New Zealand where he guided the acquisition of several real estate groups. Also, a former real estate office principal, who started in the property industry in 1987, he has extensive contacts across the real estate industry in New Zealand.

“We have four offices about to open under the Raine & Horne banner, and as we get up and running, more will quickly join us because many franchise owners in New Zealand are not receiving the service they were accustomed to previously.

“With its experience opening businesses in the South Pacific, India, Asia and the Middle East, and a finely-honed four-week onboarding platform, new offices can be up and running very swiftly,” Niederer says.

“People are looking for a point of difference, and with its technology firsts combined with its heritage of trust and long-term real estate excellence, Raine & Horne is on a winner.”

Tags: real estate