Media Release | 9 May 2023
Longstanding and prominent business, Devine Real Estate, in Sydney’s Inner West has just joined The Agency in a partnership that further strengthens The Agency’s national presence and property management capabilities. It’s another acquisition as part our strategic alliance with MDC Trilogy Group to accelerate market share growth across new and complementary geographical areas.
The Agency Managing Director Geoff Lucas believes that this partnership brings significant opportunity for The Agency to further scale and improve our service offering, including Property Management services, across the country.
“Across Australia, there are 3.25 million rental properties which we estimate are worth near $3 trillion dollars," Mr Lucas said.
"This is broadly equivalent to the entire ASX listed stocks value and compared to the ASX listed funds management industry, the management of the residential rental properties has seen limited innovation over recent decades.
"The fragmented ownership of real estate offices across Australia means that many rent roll assets are not at sufficient scale to operate efficiently, nor can their owners appropriately invest in technology that improves the tenant and landlord experience. This is where The Agency’s operating model and national presence is advantageous,” he said.
This significant property portfolio is part of The Agency’s strategy to grow and strengthen our unique Property Management offering. Our ability to seamlessly manage all of our investors’ investment properties under one roof, regardless of geographical location, by one dedicated property manager, is our competitive point of difference.
It means our Investors can look further afield and purchase the best investment opportunities across Australia, yet still have the same dedicated property manager to oversee their entire portfolio.
We also use leading tech platforms to improve operational processes and create efficiencies across the tenant and landlord experience, which in turn gives a more seamless and high-quality service to our valued investors.
Mr Lucas stated “The Agency is always looking for new and innovative ways to expand our market share and grow our local presence. This new services agreement opens new doors to more opportunity for our clients across more markets, in more ways. It also allows continued expansion into more geographical areas across Australia.”
Devine Real Estate Joins The Agency. From L-R: Matt Lahood, Geoff Lucas, Steven Devine, Aaron Papadimatos and Fayez Yammine.