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ISCOVER
Staff Reporter
Refund Home Loans has broken into the real estate market, with the mortgage company set to open its first real estate office in South Brisbane.
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Executive chairman of the Refund Group, Wayne Ormond, said he plans to open a network of real estate offices across all states within the next few years.
Just like Refund Home Loans, Mr Ormond said customers who buy or sell property through Refund Real Estate will receive a cash refund – with the agent’s commission shared between the buyer and the seller.
“We conducted a survey of real estate customers in capital cities and regions through the well-credentialed Marketshare Company which clearly indicated that as many as 70 per cent of customers were not satisfied or were unhappy with their experience. There was also a strong feeling that agents are preoccupied with their vendors and seem to have forgotten their 'other customer' – the buyer,” Mr Ormond said.
“We believe people are essentially demand driven and choose to do business with a particular company because they get a better deal. In fact, throughout our survey, many people said they would like to see Refund offering a refund in the real estate market.”
Refund Real Estate will become the first of the Refund business models to operate shopfronts in prominent locations around Australia.
Franchisees for Refund Home Loans and financial planning and insurance will share space with the real estate franchise office – providing customers with the opportunity to organise their related home loan and insurance requirements all at the one time.
Mr Ormond said his growth plans for the new initiative are bullish, with almost 50 stores expected to open before the end of the financial year.
