Newly appointed Chief Executive Officer of BresicWhitney, Thomas McGlynn estimates the group will transact $3 billion in sales in 2022.
The Announcement:
Industry leader and auctioneer Thomas McGlynn has been announced as the new CEO of independent Sydney real estate group, BresicWhitney.
The appointment comes as BresicWhitney continues to deliver on its staged growth strategy, which included Mr McGlynn joining the brand 18 months ago.
Group founder and veteran agent Shannan Whitney will remain at the head of the transactional roster where he has been focused in recent years.
The company has just concluded its most successful year to date, nudging 1200 transactions and more than $2.6 billion in total sales.
This was a 62 per cent year-on-year increase in sales and Mr McGlynn predicts a further increase in 2022, edging towards $3 billion.
With the brand considered an innovative leader in Sydney’s real estate landscape, Mr Whitney says the leadership team remains ambitious about the agency’s dominance in the Harbour City.
“I am more excited than ever about the future of Sydney real estate,” Mr Whitney said.
“The appointment of Thomas McGlynn as CEO signals a new chapter in our strategic growth that will build upon our success over the last 18 months.
“This new structure will better harness the energy of our people and better engage the new wave of agents in our business and those we are looking to partner with in the future.”
BresicWhitney currently has a 120-strong team of specialists, more than 3000 properties under management and have reported they hold top market share in some of Sydney’s most coveted suburbs.
This includes Paddington, Darlinghurst, Surry Hills, Rushcutters Bay, Balmain, Rozelle, Lilyfield and Hunters Hill.
Mr McGlynn’s appointment marks the first time the CEO role has been filled outside the BresicWhitney founders – a sign the brand has progressed in its management outlook.
Mr McGlynn believes the new foundation established by the business will create a platform that will strategically grow their operation over the next five to 10 years.
“Our brand has a reputation for transforming the industry and changes like this are testament to our ongoing commitment to that,” Mr McGlynn said.
“We’re entering a new chapter for BresicWhitney, further developing our growth plans for the Sydney marketplace and providing an environment where our people will thrive and progress.”
Moving into the new calendar year, Mr McGlynn and his team predict greater stabilisation of prices in most property categories and an increase in sales volumes across the first half of 2022.
The one category where price growth is likely to continue is in the home and large apartment market north of $5 million.
According to Mr McGlynn, all eyes will be on the timing of the federal election and coming cash rate policy from the RBA.
“We are currently holding the largest amount of active listings to start a calendar year in the company’s history, while open attendances are up more than 15 per cent compared to the back end of 2021. This indicates we are still not on equal ground when it comes to supply and demand,” Mr McGlynn said.
“We have also noticed a significant uplift in both buyers and tenants returning to the city after spending most of 2021’s lockdown period in regional areas.”
With offices in Darlinghurst, Glebe, Balmain and Hunters Hill, BresicWhitney has serviced Sydney’s inner city suburbs for 18 years.
The BresicWhitney group has held true to its unique operational ethos, one that contrasts the traditional real estate franchise model.
The idea is not to be the biggest, but rather the best in the Sydney property space, setting new standards for agent effectiveness, creating a network that is more adept at delivering outcomes for clients.
Source: BresicWhitney
