Raine & Horne Expands New Zealand Footprint With Acquisition of Mike Pero Real Estate Network
Mike Pero Real Estate’s nationwide network in New Zealand will be rebranded to Raine &
Horne, with a strategic partnership agreed with Mike Pero Mortgages.
Leading Australian real estate ‘super brand’ Raine & Horne has acquired the nationwide Mike Pero Real Estate network in New Zealand, and agreed a strategic partnership with Mike Pero Mortgages.
The Mike Pero Real Estate network, comprising of 55 franchisees and 120 licensed real estate agents, will be rebranded as Raine & Horne with the Mike Pero Group discontinuing its real estate operations to focus on its financial services capabilities.
The purchase and on-going strategic partnership aims to leverage the collective strengths of both businesses, with Raine & Horne working exclusively with Mike Pero Mortgages to deliver financial service solutions to its customers in New Zealand.
The intention is for the newly acquired business to be headquartered out of Christchurch which is the traditional home of Mike Pero Real Estate and a stronghold for its passionate franchise owners and agents.
Mr Angus Raine, Executive Chairman Raine & Horne, acknowledged the longstanding presence of the Mike Pero brand, and recognised its significant contribution to the New Zealand real estate landscape, particularly in Christchurch and the South Island.
“Mike Pero Real Estate is a strong heritage business, like Raine & Horne, made up of passionate owners and agents who we look forward to serving, developing and growing as we have done in the gold and charcoal successfully for decades worldwide.”
Raine & Horne embarked on a strategic and aggressive expansion trajectory upon its entry into the New Zealand real estate market in early 2023. Since then, the 140-year-old family-owned network has opened 13 offices across the North Island.
He added, “With the property market once again showing healthy signs, the demand for a major real estate brand such as Raine & Horne in New Zealand is evident. With each of our current 13 offices all rebranding from rival networks, there is significant appetite for an alternative brand with the size, technology, heritage and capability to drive growth.”
Mr Raine also highlighted that the similarities between the real estate markets in New Zealand and Australia, along with close ties between the two countries, were instrumental in the firm’s aggressive expansion into the New Zealand market.
“There’s a notable alignment in our agency practices, paving the way for our successful expansion.”
Mr Raine emphasised, “As leaders in real estate franchising, we take pride in offering unparalleled support to our offices. Our unique value proposition, a trusted brand with a growing global presence and a cutting-edge technology ecosystem, positions us favourably.”
“We have always been big innovators in the Proptech space, with our game-changing AI and social media marketing technology Amplify proving popular among our offices and their clients, while our appraisal platform, DigiKitPlus, is attracting an influx of new offices into our network.”
Mr Aaron Skilton, CEO of Liberty in New Zealand and Managing Director of Mike Pero Real Estate says the sale and on-going strategic partnership is a win-win for everyone involved.
“Being part of a heritage real estate business with the scale, expertise and capability of Raine & Horne represents an incredible opportunity for our business owners, agents - and ultimately Kiwi clients.”
“While the Mike Pero Real Estate network will undergo a name and ownership change, our iconic Kiwi brand will continue through Mike Pero Mortgages, with the two businesses (Mike Pero Mortgages and Raine & Horne) working closely together to leverage the core capabilities of what each of us do best.”
“We’re very proud of our real estate network, and their dedication to their clients across New Zealand, we feel very confident that will continue to everyone’s benefit under the new model.”
The official transition from Mike Pero Real Estate to Raine and Horne will start to take place in early 2024 with operations to continue seamlessly for clients in the meantime and throughout.