NAI Harcourts, the latest arm of Harcourts’ growing global empire, will take its first steps in New Zealand and Australia later this year.

A joint venture between Harcourts and NAI Global , which manages a network of 5,000 professionals and 325 offices in 55 countries throughout the world, NAI Harcourts will introduce a strong global platform of commercial real estate brokerage services to support corporate end users, investors and financial institutions locally and around the world.

The new venture is headed by commercial real estate industry veteran Christopher Nicholl, who as CEO of NAI Harcourts recently spoke of the company’s plans at NAI Global’s annual convention in Las Vegas and at Harcourts’ annual Business Leaders Conference in Australia.

Mr Nicholl comes to NAI Harcourts with more than 20 years’ experience in the commercial property industry. Prior to joining NAI Harcourts he was based in Singapore as International Director and Regional Managing Director, Project and Development Services, Asia Pacific for Jones Lang LaSalle. Previously he served as head of Colliers Australia and Colliers Asia Pacific.

Harcourts International Managing Director Mike Green says expanding Harcourts’ presence in the commercial sector is a significant step for the franchise group, which has more than 625 offices around the world, “and a necessary one to take the company’s growth to the next level”.

“Over the past few years the commercial market has grown to exceed billions in revenue, yet at the same time we have seen very few new entrants, which offers NAI Harcourts a tremendous opportunity,” Mr Green says.

President and Chief Executive Officer of NAI Global Jeffrey Finn says NAI Global has been looking for ways to grow a presence in New Zealand and Australia and Harcourts was “the perfect partner” for them to do so.

“The quality and strength of the Harcourts organisation in New Zealand and Australia, combined with NAI Global’s premier international commercial real estate network creates a powerful platform for NAI Harcourts,” Mr Finn says.

“NAI Harcourts will give us a strong presence and powerful business generation engine in this important part of the world, connecting businesses and investors from around the globe to this escalating market.”

With the average house price now sitting at approximately $500,000, Ms Meighan Hetherington of  Property Pursuit in Brisbane said that only a minor miscalculation of five percent would cost the average family or investor the equivalent of an overseas holiday, a year of private schooling for two children, a new car or a significant share portfolio.

Ms Hetherington commented that she was stunned that working families paid more attention to the price of petrol, milk and bread, than they did to the price of the biggest investment of their lives.

“We’ve done the calculations and estimated that if you saved 10 cents a litre on milk and used an average of seven litres a week, it would take 686 years to recoup the loss of one transaction in one weekend buying a family home or investment property,” she said.

According to Ms Hetherington, the prices for which houses sell is often due to market pressure rather than the true value of the home, making it difficult for the average buyer to establish the right price to pay for a property.

“The Australian model for selling real estate is skewed in favour of the vendor so it’s important that prospective buyers seek fair representation for themselves and in all probability, save themselves tens of thousands of dollars,” said Ms Hetherington.

Property Pursuit’s clients, 45 percent of whom are purchasing their principle place of residence with the remaining 55 percent being investors, spend in the vicinity of $1.3 million dollars per property, dramatically increasing the financial severity of any margin in error.

Property Pursuit, Queensland’s most awarded buyers property advisory agency, specialises in property buying advocacy, finance brokerage as well as divestment services in the greater Brisbane area.

For further information, interviews or photos please contact:
Sally Romano
Publicity Queen
M 0438 122 340

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