McGrath smashes the billion-dollar barrier in Sydney’s Greater West

The McGrath West offices reached the $1 billion milestone ahead of its June 30 target. 

The Announcement:

McGrath West I North West I Hawkesbury Group has surpassed $1 billion in sales in its first 10 months since consolidating under the leadership of Group Principal, Kon Stathopoulos.

The milestone was reached with the sale of 21 Arnett Street in Pendle Hill through McGrath West agent Arthur Kolovos on Tuesday.

Mr Stathopoulos said the sale has great significance for his group. “It validates all the work we’ve been doing in the community for last 10 months. It shows that when you have the right people with the right attitude and the best strategies, you get extraordinary results.”

In celebrating, Mr Stathopoulos said the achievement in this first year of McGrath West I North West I Hawkesbury has only been possible with of the support of the community. “It represents what the West is all about,” he said. “This is the epicentre of everything that occurs in Sydney.”

With two months to go before the end of the financial year, the group is well ahead of its estimated sales target. They had aimed at approaching $1 billion by June 30th. “We’ve surpassed our goal,” said Mr Stathopoulos. “We should finish at about $1.2 billion or more.”

Foundation partner Amit Nayak who specialises in the Parramatta area has transacted 168 sales totalling $150 million in value since July 2021. That is a sale every 48 hours.

Co-foundation partner Joel Hollings who presides over the Blacktown region has sold 138 properties for a total value of $135 million. Mr Hollings sells a home every three days.

The expanded group has sold 838 properties so far this financial year with an average sale price of $1,197,000.

Mr Stathopoulos believes the individual agent is only as good as the team supporting them. “We have outstanding agent and marketing services teams that support our agents to give them the time they need to service their clients,” he explains. “To reach that total of 838 homes sold, it demonstrates proficiency of our teams.”

The milestone is not all about figures according to the principal and group leader. “It’s about helping people on their property journeys,” Mr Stathopoulos. “Since our expansion across Greater Western Sydney, our team has gone from strength to strength.”

With the introduction of higher interest rates this week, Mr Stathopoulos believes his market will see some impact towards the tail end of the year and into 2023. “There has been a slight slowdown in buyer actively of late, however, we’re still transacting the same number of deals as three or four months ago,” he said. “It’s just a bit harder.”

He expects little impact in the property market from the upcoming Federal election. “Both parties are encouraging participation in the property market,” he said. “As for the Federal Budget, there’s nothing other than positive news for the housing market. The major election policies centre on first- home buyer schemes and affordable housing.”

Meanwhile, agent Arthur Kolovos can expect an office celebration for hitting the $1 billion target. His client, seller Slav Visevic is also happy to be part of the occasion. Asked how he felt about his investment property being the catalyst to tip McGrath West into the billion-dollar category, he said, “It feels great!”

“I bought the land and then built on it back in 2009,” he added. “I’ve held it for 13 years; it’s been a good investment.”

Source: McGrath

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