Ann: McGrath Limited secures strategic investment by Aqualand, page-6

Perhaps- however in the eastern suburbs of Sydney —— the McGrath signs have seemingly disappeared - I spotted one on the boarder of rushcutters bay on Nields avenue in three months whilst in Sydney resently

Since his main offsider left the busiNess and the registry - all you now seem to see are —- “the agency” signboards—- they are like Phillips patnser donnelly of a few years ago—- I think they have now taken most agents and most of the McGrath business

I see the adverts in main weekend papers/ domain for McGrath but they appear to be a tiny player now

Got the same report for inner west— people asking has McGrath changed its name or has everyone jumped ship as “ the agency “ signboards are everywhere—- this is what happened when McGrath floated and bought the northern beaches franchise- many walked and “ stone” real estate sprang up with ex agents and took huge market share off existing McGrath business

I think you will see a shocking sales revenue figure in this half- they will blame lowmlistings but reality is there are heaps of listings in eastern suburbs—- they just dont have a McGrath signboard

As stated in the beginning- floating a contracted sales force in real estate would be a disaster

This imo is why they just needed to sell large equity to a major developer- firstly cash must have been tight and simply they are assuring themselves of future project management fees- but they will be lower for sure, in exchange for the equity taken imo- and less building in the future will mean less fees

No kidding- I think the brand in its heartland is shrinking fast- lots of McGrath agent seem to be working elsewhere—

Good
Luck but I think the brand and business is in serious decline