The transition will commence early this year
Real estate giant Raine & Horne has completed the acquisition of the nationwide Mike Pero Real Estate network in New Zealand and has entered into a strategic partnership with Mike Pero Mortgages.
The Mike Pero Real Estate network, consisting of 55 franchisees and 120 licensed real estate agents, is set to undergo rebranding under the Raine & Horne banner. In light of this transition, the Mike Pero Group will cease its real estate operations to concentrate on enhancing its financial services capabilities.
The acquisition and the ongoing strategic partnership are geared towards capitalising on the combined strengths of both entities. Raine & Horne will exclusively collaborate with Mike Pero Mortgages, focusing on delivering comprehensive financial service solutions to their customer base in New Zealand.
The new business, headquartered in Christchurch, aims to harness the synergies of both entities and enhance customer offerings.
Angus Raine, executive chairman of Raine & Horne, recognised the enduring presence of the Mike Pero brand and acknowledged its contributions to the real estate landscape in New Zealand, particularly in Christchurch and the South Island.
“Mike Pero Real Estate is a strong heritage business, like Raine & Horne, made up of passionate owners and agents who we look forward to serving, developing and growing as we have done in the gold and charcoal successfully for decades worldwide,” Raine said in a media release.
Raine & Horne, a 140-year-old family-owned network, has rapidly grown in New Zealand, opening 13 offices across the North Island since entering the market in early 2023. The move aligns with the resurgence of the property market and the demand for a major real estate brand in the region.
Aaron Skilton, CEO of Liberty in New Zealand and managing director of Mike Pero Real Estate, said that the sale and ongoing strategic partnership represent a win-win situation for all parties involved.
“Being part of a heritage real estate business with the scale, expertise, and capability of Raine & Horne represents an incredible opportunity for our business owners, agents – and ultimately Kiwi clients,” Skilton said.
“While the Mike Pero Real Estate network will undergo a name and ownership change, our iconic Kiwi brand will continue through Mike Pero Mortgages, with the two businesses (Mike Pero Mortgages and Raine & Horne) working closely together to leverage the core capabilities of what each of us do best.”
The official transition from Mike Pero Real Estate to Raine & Horne is set to commence in early 2024.
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