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Elders continues real estate growth with Naracoorte acquisition

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Elders has acquired First National Real Estate Naracoorte in southeast South Australia (SA).

Diana and Brian Edwards and their team at First National have operated in the area for more than 17 years. They will now be joining forces with the Naracoorte branch of Elders Real Estate.

Diana told Fairfax that Elders’ strong brand aligns with Naracoorte’s market leading real estate team for sales and rentals.

“We will all learn a lot from each other, and continue to support all our clients and the people of the Mid South East,” said Elders Naracoorte branch manager Tom Dennis.

Elders Naracoorte will service southeast SA and West Wimmera in residential and rural sales and property management and receive support from the corporate team in the Adelaide head office.

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In February, Elders announced that it would be targeting aggressive growth in its real estate business by expanding the existing network of over 900 sales people and 300 property managers.

“Our Board has backed a new strategic direction for the Real Estate business, which is heavily focussed around increased growth and a greater brand presence right across Australia,” general manager of real estate Tom Russo said. “We are focussed on lifting the service offering for our teams, franchise principals and, most importantly, clients – ensuring we’ve got innovative solutions and investing in experienced professionals to achieve operational excellence.”

Since then, Elders has acquired the Southern Districts Estate Agency (SDEA) in Western Australia and now First National.

The SDEA acquisition resulted in more than 60 experienced real estate professionals transitioning to the iconic Elders’ pink shirt.

Commenting on the SDEA acquisition, Elders West Zone General Manager James Cornish said that Elders’ presence in the southwest would present an excellent opportunity to further diversify its client offering across core products and services.

Elders is in its 177th year of business. The Elders Real Estate network consists of almost 300 offices operating in all capital cities and major regional areas. In 2016, Elders’ network sold over 9000 properties for a combined total value of $4 billion.