Victorian real estate agencies Brad Teal and Woodards form strategic partnership
A major deal 33 years in the making is set to shake up the Victorian real estate in a strong sign of post-lockdown confidence.
A major deal 33 years in the making is set to shake up the Victorian real estate market.
Leading agencies Brad Teal Real Estate and Woodards Real Estate have entered into a strategic partnership that is set to significantly reshape the property landscape.
Founders Brad Teal and John Piccolo, who began their respective agencies more than three decades ago, will continue to be intricately involved in the new business.
“Property is just the meeting place, it is really all about the people,” Brad Teal said.
“Together, we now get the best of both worlds; to accelerate our growth and benefit from the economies of scale while taking advantage of the right time in the world of real estate to expand and consolidate.
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“The aggregation of our databases, market intelligence, intellectual property and new collective buying power will set us up for strong and sustainable future. Most importantly, we will be setting it up alongside the right people.”
The deal is a strong sign of confidence in the Victorian real estate market as it continues to emerge from lockdown restrictions.
Mr Teal and Mr Piccolo began a friendship 33 years ago, with the partnership sealed over Zoom calls during lockdown.
“It is really difficult to find great people, rarer still to find them at the right time and in the right locations,” Mr Piccolo said.
“In this case, the stars have aligned through long-term relationships and a lot of hard work in structuring the right deal with Brad to sustain and grow the businesses. It is an incredible opportunity to be able to expand into Melbourne’s growing inner northwestern and Macedon Ranges corridors, forming a stronger twenty-office network, while simultaneously creating new commercial and lifestyle property divisions.
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“It fulfils one of our strategic objectives of linking the most desirable suburbs across inner Melbourne. Like all the best deals, this one is predicated on the right people with shared values coming together.”
The deal means Brad Teal’s seven offices will be combined into the Woodards Group with the businesses to be co-branded in the first half of next year.