Media release - 6^th September, 2013

Steve Worrad to drive Raine & Horne office growth to new levels

Raine & Horne appoints Steve Worrad as its new general manager in Queensland
The 130-year old firm is targeting office growth of 10% by the end of 2013
Mr Worrad will drive office growth while simultaneously maintaining Raine & Horne’s industry leading service to its existing office network
Investors and families are set to drive Queensland property values this Spring

Leading real estate group Raine & Horne has strengthened its management team with the appointment of industry expert Steve Worrad as general manager of the company’s growing office network in Queensland.

Steve Worrad

With experience in real estate franchising extending over 25 years, Mr Worrad has worked in senior national management roles with a number of major real estate brands, as well as owning and operating real estate franchise offices in Sydney and the Northern Rivers region of NSW.

According to Angus Raine, Executive Chairman and CEO of Raine & Horne, Mr Worrad brings an exceptional record to the 130-year old real estate firm.

“Steve contributed to the spectacular growth of the national property division of one of our competitors, where he worked closely with current Raine & Horne Chief Operating Officer, Brian Reid,” says Mr Raine.

This business had outlets throughout Australia and New Zealand and for five years, Mr Worrad assisted Mr Reid in more than doubling turnover.

“Steve knows what it takes to drive the success of a real estate network and the importance of putting clients and customers first,” says Mr Raine.

“He is also absolutely committed to helping our offices in Queensland drive profits, listings and sales, along with building profitable property management portfolios.

“Steve certainly adds to the strength of our corporate team, and will be instrumental in further expanding the reach of the Raine & Horne brand in Queensland.”

Mr Worrad is joining the Raine & Horne network at a time when several offices are in the pipeline to open in Queensland before Christmas.

“There’s an expectation that we’ll grow our Queensland network by 10% before the start of 2014,” adds Mr Raine.

Mr Worrad says he excited by Raine & Horne’s growth prospects but confirms the existing office network in Brisbane and regional Queensland remains a priority.

“Maintaining a superior level of service to our existing offices is important to me, and I believe my responsibility is to help them build on their existing profitability, and expand their property management businesses and market share in their suburbs, towns and regions,” says Mr Worrad.

The timing of Mr Worrad’s appointment also coincides with the beginning of the traditional Spring selling season and comes hot on the heels of a resurgent Brisbane residential market, with home values up by almost 1.5% in August, according to the RP Data Daily Homes Value Index.

“It’s fair to say that the Brisbane market hasn’t enjoyed a mini-boom like Sydney and Melbourne have over the last 15 months, although it proved the strongest performing capital city market last month,” says Mr Worrad.

“As a consequence we believe that with a shortage of quality homes for sale we will see continued growth through to Christmas, with investors playing their part in pushing prices along, as Brisbane housing still represents excellent value and robust yields.”

Queensland’s housing affordability will also start to entice more families into bricks and mortar, according to Mr Worrad.

“Families are sick of paying off big mortgages, so moving to Queensland makes plenty of sense,” says Mr Worrad.

“We have a growing economy, plenty of jobs and a climate that makes it a great place to raise a family.”

-ENDS-

For further media information contact:

Angus Raine, CEO, Raine & Horne, 0409 920 697

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400

Raine & Horne targets growth in Queensland with appointment of top senior executive