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Multi-state brokerage plans massive expansion

by Nick Bendel4 minute read

Shore Financial has revealed it is close to securing a third exclusive real estate partnership and moving into its third capital city.

The Sydney-based firm said it has grown from three staff to 20 during the past year after securing an exclusive 15-year broking agreement with real estate group Richardson & Wrench.

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During that time, it has also opened a Melbourne office after signing another exclusive deal, this time with Fletchers Real Estate.

Shore has now revealed the firm expects to enter into a third real estate partnership and open a Brisbane office sometime in 2015.

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Director Theo Chambers said Shore also planned to double its Sydney team, from 20 to 40 brokers, by July.

"We are growing so fast we had to ask our next door office neighbours if they would mind relocating so we could buy their office in order to expand our office size," Mr Chambers said.

The brokerage was founded in February 2013, lodged $1 billion of loans during its first year of trading, and is forecasted to lodge $1.5 billion in 2015, Shore stated.

The average age of a Shore broker is 26, added Mr Chambers.

"Shore Financial prefers to recruit young novices because they are hungrier and more open-minded than existing brokers," he said.

"Shore Financial's growth will come from increasing broker numbers and supporting the brokers to maximise their efficiency."

Mr Chambers finished 25th in the 2014 Elite Business Writers rankings after writing $109.8 million of loans in 2013/2014.

Another Shore broker, Thomas Hawley, was crowned Newcomer of the Year at the 2014 Australian Broking Awards.

[Related: Young star aiming to become $100m broker]

Multi-state brokerage plans massive expansion
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