Laing+Simmons embarks on new franchise model

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Jun 14, 2017

Laing+Simmons embarks on new franchise model

Laing+Simmons opened its first example of a new business model last week with the opening of a Liverpool office that will be partly owned by the group.

Image: The Australian Financial Review.

Laing+Simmons opened its first example of a new business model last week, with the opening of a Liverpool office that will be partly owned by the group.

Stan Platis, Executive Director and Head of Growth of Dexar Group, the company that owns Laing+Simmons, says the Laing+Simmons Liverpool model is something new for the industry.

“We’re no longer constraining ourselves to the traditional franchise model," he said.

“Our partnership model is a collaborative evolution of traditional franchising in real estate whereby we take a co-ownership position in the new office," he said.

Platis said one of the main advantages of the new structure would be being able to share back-end services.

The office was "partnering with the most capable operators in key local markets and providing access to all the back-end services they need to grow a successful long term business," he said.

“From trust accounting, salaries and wages, human resources, compliance and reporting requirements, employment contracts, assistance with recruitment and training and all other administrative functions, we can take care of all back-end services to free up and empower the office principal to list and sell property – which is what they do best."

The principal of Laing+Simmons Liverpool will be David Tran, who will team up with leading Liverpool agent Nada Raic.

The new Liverpool office will offer a full suite of real estate services, including sales, property management, project marketing, and valuation and auction services.

“It’s an exciting time in the context of Liverpool’s history," said Tran.

"There’s a great deal of investment earmarked for the region, with new infrastructure, commercial and residential development planned which will give rise to an influx of new residents and jobs,” he said.

Platis said Laing+Simmons will continue to explore new opportunities, particularly around the Bagderys Creek area.

“We expect to bring a number of new offices on board over the next 12-24 months,” he said.

Another benefit of the partnership model is information. Dexar’s back-end systems mean office performance can be easily benchmarked, instead of waiting on third party research and data, giving Laing+Simmons principals an information advantage.