Raine and Horne

The Future is Looking Bright offices of 30, sometimes 90, staff, who can meet buyer demand in high volume locations. The network’s offices in New South Wales and Queensland are excellent examples of the megaoffice trend. Investing in new technology Always an innovator, Raine & Horne is garnering quite a reputation for embracing and investing in new technologies that enhance the capabilities of the network. The real estate leader continues to act as a market leader in the application of new technology with the development of Amplify, a powerful new artificial intelligence technology that creates multiple ads for a property and displays them with precision to targeted audiences through Instagram, Facebook and Google. However, as Angus Raine notes: “Despite the expansion of technology and its applications to the property market, the real estate industry is still very much a contact sport. People like to feel confident that they are dealing with a professional who cares about their needs and goals. With a legacy spanning over 140 years, the firm understands this implicitly and we know our physical presence and the quality of our agents is critical to the ongoing success of the firm even in an era when technology appears to dominate many areas of business practice.” Raine & Horne is seeing a trend to younger principals, who have purposely trained and studied to excel in the industry. Angus Raine believes this is a positive for the super brand, noting: “Real estate is less an industry you fall into and more of a deliberate career choice these days.” Raine & Horne certainly attracts plenty of interest from would-be franchisees though continues to apply demanding criteria to ensure only the highest calibre talent is successful. The trend of younger principals is a plus here too. Angus Raine, explains: “Younger franchisees absolutely gobble up new technology and Australia has been built on a foundation of giving young people a go.” A fifth generation leader? Since 1955, the firm has benefitted from having board members who are not part of the Raine family, including Louise Joslin, Director and Head of Property Research at Raine & Horne International for nine years from 1985 to 1994. The embracing of talent outside the family has been a key attribute in the enduring success of the firm as it allows Top: Angus and Max Raine, sporting Raine & Horne beanies, share a lighter moment at a South Australian awards night. Above: Mrs Susan Raine, retired Raine & Horne director, provided an oasis at home to husband Max and remains a valuable sounding board in 2023 to son Angus. the business to tap into a wide variety of talent, skills and personalities. Given the current trend of successful companies to pursue a listing on the Australian Securities Exchange it’s only natural to wonder if Raine & Horne will follow suit. Angus Raine dismisses this option: “Franchising is a fantastic model because it is not capital intensive. The only reason we would consider an initial public offering is because we’re looking for an exit strategy for current leadership or because we need an injection of capital, and frankly, neither applies.” That said, questions over succession are natural. In 2003, Raine & Horne conducted its first round of succession planning, which included Angus and his three sisters, Julia, Rebecca and Georgina. “It took a long time, and it was costly, but our litmus test of success is we all still share Christmas together,” Angus told the Australian Financial Review in November 2012. So what lies ahead? Will there be a fifth generation Raine to guide the firm into the future? Angus remains circumspect, noting he has five children of his own, Charles, Max, Alexandra, Edwina and Heidi so there is a reasonable chance at least one of them will enter the family business. However, these days Raine & Horne is a far cry from the firm that Angus’ forefathers Ned, and later Max, inherited. As Angus notes: “The business has reached a stage where it is not necessary to have a Raine leading the firm. Nonetheless, with several of the children now studying at university or having graduated, I anticipate any one of them could follow my 140