Two powerhouses of New Zealand real estate have come together, joining forces to create a perfectly aligned partnership that’s set to redefine the industry.
Unlimited Potential has merged with Bayleys – two people-focused, family businesses united in the same vision and now working together as one.
This amalgamation of culture, creativity, innovation and excellence is a natural fit. It’s based on shared philosophies and a vision to capitalise on the extraordinary success and current trajectory of both agencies.
UP’s branches and agents are currently being rebranded as Bayleys. This process began late last year, although Bayleys’ purchase of UP occurred around two years prior, after John and Mike Bayley recognised UP’s excellent brand positioning, the strength of its team and the untapped potential for growth.
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Like many great deals, it began over a Sunday afternoon glass of wine.
“We hadn’t been thinking about selling, it’s our baby,” says Grant Lynch, co-founder of UP, alongside Barry Thom.
“But we’d said that if we were ever going to sell, it would be to the Bayley family, because of the respect we had for their brand and operational style.
“They are a family business that started in their home in Pakuranga – there was a whole lot of things that just felt right.
UP founders Barry Thom and Grant Lynch. Photo / Fiona Goodall
“We spent the latter part of that summer three years ago having meetings at John’s place over a glass of wine and essentially did it over a handshake.”
A “people first” ethos and identical DNA fundamentally unites each brand, with both UP and Bayleys primarily focussing on growth by attracting and retaining the best people in the industry.
The loyalty and long tenures of agents is a testament to this, as is the considerable percentage who have worked for both brands.
“Right from the beginning they said, ‘we don’t leave anyone behind’, so when we migrated, everybody came,” shares Lynch.
“A lot of those people have worked for us for 30 years, so it was important that we felt like we were putting them in a better place.”
Power in numbers is another key driving force of the merge, with the Bayleys Auckland residential roster bolstered with an injection of established and skilled emerging agents – each with their own invaluable market knowledge and networks.
“We’ve bought a slightly more intimate, personalised approach to real estate. When you’ve got scale like Bayleys it’s something that’s hard to maintain, the intimacy. That’s the piece we’re helping glue in.”
Conversely, UP agents will now have access to Bayleys’ full suite of marketing, training and support initiatives, as well as the opportunity to leverage offshore partnerships with McGrath and Knight Frank – exponentially increasing the reach of their property campaigns.
“There’s some seriously clever people in the Bayleys operational side. They’re very competent at assessing growth and looking at all the numbers and understanding the value of the opportunity.”
Logistically, the Mount Eden UP branch became Bayleys Mt Eden in February and plans to move the Bayleys Ponsonby team into the UP Herne Bay/Ponsonby office are currently underway. The Remuera UP team have relocated to Bayleys’ brand new Remuera office at 303 Remuera Road.
“That is real estate on steroids – a super office. There’s about 60 of them and they’re going to be a force to be reckoned with.”
In existing key markets, both agencies will gain greater influence where they formerly competed.
For UP, the big opportunity lies in the vast number of Auckland suburbs they haven’t had a presence in yet and untapping that infinite potential.
“On the North Shore there are as many houses are there are in Wellington. It’s gaining territory that we don’t already have a brand position in – we call it a Halo strategy, where we’ll grow by influence.”
Unlike many scenarios where the owners run for the hills either during or just after the acquisition process, Lynch and Thom have enjoyed it so much they’ve taken on further roles in the business.
“I’m in a role within the residential team, in change of growth, talent and acquisition, and Barry is on the design side.
“For Barry and I, we’ve been siloed in this little business of ours for 30 years and we’ve loved it. Why is this exciting for us? Because we’ve never had the tools, capacity and expertise behind us to contemplate this sort of growth.”
- Sponsored by Bayleys
