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Home / Whanganui Chronicle

Realtor to close but staff keep jobs

Laurel Stowell, laurel.stowell@wanganuichronicle.co.nz
Whanganui Chronicle·
24 Aug, 2012 06:00 PM3 mins to read

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Longstanding Wanganui real estate business Coull Battell Ltd is closing at the end of the month, its salespeople moving to join Ray White Wanganui.

Coull Battell principal Jamie Doble said he had made the decision to close the business.

His loyal staff had opted to stick with him until the final day and were happy with the move he suggested.

"Under the new REAA [Real Estate Agents Authority] Act and in the present conditions bigger teams are going to be better," Mr Doble said.

The conditions he refers to are a city with about 900 properties for sale, and about 50 selling every month. During the past two years prices have slightly increased in some suburbs and decreased in others. Properties are taking longer to sell.

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The Coull Battell business would be closing with "a bit of a bang" on August 31, he said, with the auction of the 1868 Tikitiki house at 14 Wikitoria Rd.

After that the staff would be celebrating the last 30 years with The Professionals.

Mr Doble wasn't sure what he would do when the business closed.

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His first priority was a break and a holiday.

The owner and director of Wanganui's Ray White franchise, Tim Hocquard, is happy to announce the expansion of his business.

He has set up a new company, Wanganui Real Estate Ltd, and is buying the Coull Battell business with the help of equity partner Bartley Group Holdings Ltd.

He said the change was a positive one for Wanganui because it saved jobs and enlarged his team of highly experienced salespeople to 12.

"We have all of their most revered and experienced salespeople coming to work for us."

They would move into the Ray White premises in Victoria Ave, and he had also hired a new property manager and was looking for another two staff members.

The sale made Ray White the only Wanganui-owned and operated real estate business in town, he said, and he was proud of its record.

So was Ray White New Zealand chief executive Carey Smith. He said Ray White Wanganui opened just two years ago and had grown market share more than 25 per cent since then.

It kept going under difficult conditions, while seven other brands had come and gone in the past five years. It also supported Hospice Wanganui and local sports clubs.

Mr Hocquard said the move of the salespeople continued the polarisation of the real estate business in the River City. Ray White had industry-leading systems and structure that helped everyone involved in its transactions, he said.

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He would like to be Wanganui's market leader in property management.

"We would be the largest property manager in the city. We have 400 properties.

"That creates an awful lot of work for Wanganui businesses.

"We do our best to do everything local. As we grow, they grow," he said.

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