Ray White Port Adelaide has a new chapter ahead, with Tristian Kennedy and Jason Spagnoulo acquiring the sales business from founder Nick Psarros and his wife Loraine after over 15 years of family ownership.
Nick Psarros, who has worked in real estate for 20 years, built Ray White Port Adelaide from the ground up, a business that was always a family affair.
His daughter Jessica was among the first staff members, handling sales, PM, marketing and administration, before Loraine joined to lead the management and sales administration team after 20 years in Corporate Law.
Nick will remain connected to the business in a new role as Founding Director, continuing to service his clients and make himself available to the team at Port Adelaide.
“I’ve loved running my family business, but it’s time to hand over the reigns,” Nick said.
“It’s time to step back. I will help the team at Port Adelaide | Grange with mentoring and assist in any way they need me. I am passing on the baton to our younger staff members, while Loraine will still oversee our office with a well established property management business and look after the team culture.”
Tristian Kennedy and Jason Spagnoulo, who also co-own Ray White Grange, will initially bring the talented Port Adelaide team of 10 staff together into the Grange office.
Jason Spagnoulo, a former professional footballer turned business owner, also holds the principal reins at Ray White Norwood, Burnside and Campbelltown, bringing the collective group to more than 120 staff.
“Geographically, Port Adelaide makes sense for us, and the timing was right for Nick and Loraine,” Tristian Kennedy said.
“Ray White has really strong market share in the western suburbs, and with our two offices coming together, this really excites us.”
Jason said the acquisition added meaningful scale to the group’s shared services model, which provides sales agents with operational support, high-performance mentoring, recruitment and property management infrastructure.
“Our shared services model is set up to help our sales agents supercharge their businesses,” he said.
“This acquisition continues our strategic pathway in providing our highly talented team with the ability to fulfill and reach their potential,” Jason said.
Nick Psarros will continue to draw on more than two decades of experience serving clients across South Australia.
Beyond real estate, he has worked as a youth counsellor and spoken to thousands of students in schools across Australia and internationally.
“It’s not only about selling houses, it’s about helping people make informed decisions so that they can move closer towards their life goals,” Nick said.
Ray White South Australia CEO Matt Lindblom said Nick and Loraine had been tremendous contributors to the network, and Tristian and Jason were exactly the right people to carry this forward.
“It’s a privilege to have so many outstanding members in our group. Nick and Loraine built something really special in Port Adelaide, a business with high performance, energy and genuine heart, a reputation that reflects what Ray White stands for.”
“Seeing this business thoughtfully passed into the hands of Tristian and Jason, who share that same commitment to people and performance, makes this one of those moments you feel genuinely proud of.”