PHOTO: Ray White Real Estate
Ray White is a well-known real estate company that originated in Australia and expanded into New Zealand with the purchase of United Realty around 1994.
Ray White Real Estate was established in 1902 in Crows Nest, Australia, by Ray White. The company started as a small family business and gradually grew over the years. This is a true family company held in private family ownership now run by Ray White’s Great – Grandson Dan White. The board consists of: Brian White AO – Chairman, Grandson Paul White – Joint Chairman, Great – Grandson Dan White – Managing Director.
Ray White experienced significant growth in the Australian market and became the country’s leading real estate agency. It expanded its operations by opening new offices across different states and territories in Australia.
Q & A with Brian White – Who is the grandson of Ray White? (WATCH)
After establishing a presence in New Zealand, Ray White experienced substantial growth and began acquiring other real estate agencies in the country. These acquisitions helped expand its network and market share. Kent Prior Real Estate in Canterbury and Leaders Real Estate in Wellington to name a couple.
Today, Ray White is the largest and most prominent real estate brand in Australia/New Zealand.
In our opinion this has been the #1 company for growth in New Zealand, on the back of the strong leadership of Carey Smith. In 1996, Carey was given the responsibility of spearheading Ray White’s expansion into the New Zealand market. At that time, the company was operating as United Realty and had an impressive network of 58 offices. Shortly after, in late 1998, Carey took over the leadership of the operation and played a crucial role in transforming it into Ray White United. Under his guidance, the company underwent another transition and became known as Ray White Real Estate.
In the past year Carey has moved into the role of Executive Chairman. The question remains whether the new ‘on the ground’ leadership team of Daniel Coulson (CEO) and Treena Drinan (CAO), have the same ability and drive to take Ray White further. We suspect if they do, Ray White will end up being the #1 business for offices and market share in New Zealand, taking over the top spot from Harcourts.
Currently they have 195 offices and 2622 salespeople in New Zealand compared to Harcourts 206 offices and 2570 salespeople.
In order we suspect the TOP FOUR for market share now looks like:
- Harcourts
- Barfoot & Thompson
- Ray White
- Bayleys
*RESIDENTIAL/RURAL SALES