With an estimated market value in third position overall against all real estate groups nationally, Harcourts was the only national group amongst the top five to have effected an increase in market value over the past quarter reporting, according to CoreLogic.
According to a release supplied by the company, of the seven states in which the national real estate franchise network operates has experienced steady increase in market share, including a 32 per cent total share of the market in Tasmania, more than double that of the next competitor.
Since April 2017, Harcourts has opened in 20 new locations, with July the best performing month of 10 new offices. Recent key market expansion in Sydney’s Eastern suburbs, Brisbane and regional areas such as the Sunshine Coast and Coffs Harbour have contributed to the strengthening.
“As the business continues to grow in both number of franchise offices and sales consultants, the natural conclusion would be that the number of new listings and market share would both increase,” said Harcourts Group Australia CEO Marcus Williams. “Not only has this been true, but it is due even more to the quality of people who joined us.
“We are seeing a closing of the gap between Harcourts and the other two national brands ahead of us. Our business is strong and gaining strength each quarter, and I am very happy for the success of everyone who works within our brand, however, it isn’t enough for us to be the third largest in Australia.
“Our goal is to be number one, and with our belief that ‘culture eats strategy for breakfast’ we will continue to surround our family of offices with great people and achieve this goal.”
Harcourts Group Australia is one of 10 countries in which the brand operates, having begun business in New Zealand in 1888, and it has experienced the strongest growth compared to the other countries.
“Although Harcourts began in Australia only 20 years ago, in 1997, we are seeing the fruits of our considered strategy centred on putting people first,” said Harcourts International Managing Director Mike Green.