REAL estate agency Bayleys has bought a shareholding in Country & Co in a bid to join the competition rather than fight against it.
Bayleys Southland and Country & Co Realty Ltd would now be rebranded under the name Country & Co in partnership with Bayleys.
Country & Co Realty Ltd director Pip Ryan said the company had been operating in Southland for four years and was now the leading rural real estate agency in the region.
The agency had a sales team of four personnel comprising himself, Paula Laughton, Matt Harrington and Shay Moseby, who were all shareholders in the company, he said.
Bayleys Southland was part of Bayleys Real Estate New Zealand.
Both real estate agency entities would continue operating out of their existing Invercargill premises and Bayleys Southland rural specialist Hayden McCallum had moved to the Country & Co office.
Bayleys Southland director David Gubb said partnering with Country & Co enabled the agency to complete its geographic presence in the lower South Island’s rural markets.
“Although Bayleys is one of the pre-eminent rural real estate agencies in New Zealand, it’s fair to say the brand has struggled to establish a foothold in Southland’s farming sector partly due to the successful operations of Country & Co, which is a major player in the sector.
“So, rather than battle on, it made simple business sense for Bayleys to partner with Country & Co and grow through acquisition,” Mr Gubb said.
Mr Ryan said the move to partnering with Bayleys was a progression for a company founded on strong local representation now operating in a nationwide environment, and would ensure a solid growth path and longevity for the newly branded company.
“Southland is one of New Zealand’s primary agricultural producing regions standing alongside the Waikato, Taranaki and Canterbury, and as such, farms for sale in the province need to be profiled to potential buyers throughout the country,” he said.
“Our new partnership with Bayleys will enable that to happen in a very effective way and Bayleys’ nationwide network of rural sales teams will enable a far greater marketing reach underpinned by personal representation.
“We’re also excited about bolting Bayleys’ extensive industry-leading, back-office support services on to Country & Co’s existing strong local property owner networks and rural community relationships across Southland,” Mr Ryan said.