One of the largest deals in Victorian Real Estate history has just been announced, and was conceived of in a Zoom meeting and completed under lockdown conditions in Melbourne. Brad Teal Real Estate and Woodards Real Estate have struck a deal to form a strategic partnership, combining the seven Brad Teal offices into the Woodards Group.
Brad Teal himself, synonymous with real estate in Melbourne’s north-west, isn’t going anywhere and neither is the brand. Brad is excited about the chance to continue to list and sell property while also being able to train and mentor the next generation of real estate agents. The Brad Teal businesses will be co-branded with Woodards from the first half of 2021, to make the most of the strong recognition the Brad Teal name has in its core areas.
“Property is just the meeting place, it is really all about the people. 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. 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.” Brad Teal
September 13th, 1987 is a day John Piccolo, CEO of Woodards, remembers well, it was the date he set up his first Real Estate business at 633 Nicholson Street, Carlton North, the same address where Woodards Carlton currently resides. What he didn’t know at the time was that Brad Teal had set up his own eponymous Real Estate business exactly five months earlier. John did find out over time that Brad was someone with similar values and interests, and was worth staying in touch with. While the two have caught up regularly over breakfast, the deal that was 33 years in the making had to be done virtually during the lockdown. John Piccolo is most excited about all the great people involved, which in his opinion is the most important factor determining the outcome of any partnership.
“It is really difficult to find great people, rarer still to find them at the right time and in the right locations. 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 north-western and Macedon Ranges corridors, forming a stronger twenty-office network, while simultaneously creating new commercial and lifestyle property divisions. 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.” John Piccolo
This partnership is another sign of the continued consolidation of the Real Estate industry, and both businesses have recognised the benefits of scale and innovation. Woodards Future Leaders training program will be bolstered by fresh new faces and the experience that comes with Brad Teal Real Estate’s REIV Property Management Team of the Year. The collective group will be able to secure the very best in talent and offer excellent training, development and career pathways for the existing team and aspiring new recruits. After the transition is bedded down, on an operational level the group looks forward to the future, with a plan to continue to implement artificial intelligence and virtual reality systems across all offices, providing their teams and their clients with the very latest market intelligence, insights and opportunities.
One of the key values that both brands share is a need to give back to the communities that they serve. The Woodard Foundation, winner of the REIV Community Services Award for 2020, will be a beneficiary of a larger network. Supporting people experiencing homelessness, social isolation and family violence, a portion of every transaction throughout the group is donated to the Foundation. Innovative Social Housing Projects, the CEO Sleepout and a strong partnership with Vinnies, Local Community Grants and even a Community Bookstore at 770 Glenferrie Road, Hawthorn are just some of the projects the Foundation has worked on this year. Brad Teal is excited to be able to get involved, having contributed to over eighty local community organisations himself over the years, and this local support will continue.
The announcement to staff was made on the 3rd of December 2020, with 2021 providing the perfect launching pad for the new combined Brad Teal and Woodards Real Estate teams.