- Dexar has sold the real estate franchise network for an undisclosed sum to 15 Laing+Simmons network members
- Notable partner includes Managing Director Leanne Pilkington, who is the serving President of the Real Estate Institute of NSW (REINSW)
- The current franchise model will stay in place whilst new franchisees will be allowed to have greater autonomy
Laing+Simmons Corporation, a New South Wales-based boutique real estate franchise network, has been sold by Dexar Group for an undisclosed sum to a partnership consisting of 15 team members.
The network has been operating since 1967 and has 43 offices in key metropolitan and regional locations.
The new partnership includes some of the network’s longest serving and highest profile principals including D’Leanne Lewis, Ray Fayad and Nicholas Efrossynis alongside Managing Director Leanne Pilkington.
Ms Pilkington, who is also the current President of the Real Estate Institute of New South Wales (REINSW) , says the purchase highlights the confidence her fellow network members have in the brand.
“When the opportunity to acquire Laing+Simmons arose, the demand among franchisees was strong and the offer was fully subscribed quickly, demonstrating the belief in the brand,” says Ms Pilkington.
“ We recognise the industry is undergoing rapid evolution, which means franchising needs to evolve as well…No-one is better placed to understand the needs of today’s business owners than agency principals, who operate at the coal face every day.”
Additionally, the new shareholders are diverse in terms of age , location and gender reflecting on their overall broader network, according to Ms Pilkington.
“This diversity will underpin our future growth as we look to grow the Laing+Simmons network in select metropolitan and regional locations in 2021 and beyond,” she says.
“The ambitions of ownership, our existing franchisees and those we welcome in the future are completely aligned. This provides us a solid platform for future growth.”
There won’t be any significant changes to the franchise model under the new owners, however new franchisees will be given greater flexibility to recognise expertise and skills in their local markets