A partnership of 15 Laing+Simmons team members have announced today they have agreed to purchase the business from Dexar Group for an undisclosed sum.
The partnership includes members of the company’s head office team, including Managing Director Leanne Pilkington, and some of the network’s highest-profile and longest-serving principals, including D’Leanne Lewis, Ray Fayad and Nicholas Efrossynis, to name a few.
Managing Director Leanne Pilkington, who is also the current President of the Real Estate Institute of NSW, said the purchase by members of the network demonstrates the value and belief in the brand.
“When the opportunity to acquire Laing+Simmons arose, the demand among franchisees was strong and the offer was fully subscribed quickly, demonstrating the belief in the brand,” Ms Pilkington said.
“Laing+Simmons has been a fixture in the New South Wales real estate landscape since 1967.
“We recognise the industry is undergoing rapid evolution, which means franchising needs to evolve as well.
“No-one is better placed to understand the needs of today’s business owners than agency principals, who operate at the coal face every day.
“This internal acquisition means we have skin in the game. We believe so strongly in the brand that we acquired it.
Ms Pilkington is adamant the move is a good one and that members of the group can be confident of the new owners’ commitment to support them and the growth of their business.
“The ambitions of ownership, our existing franchisees and those we welcome in the future are completely aligned. This provides us a solid platform for future growth,” she said.
Under the new ownership, Laing+Simmons will continue to operate using the franchise model while offering new franchisees flexibility in recognition of their specific skills and expertise in their local markets.