WHEN Andrew Coronis (pictured) took over Springwood-based Modus Realty a year ago, former owner Tim Heffernan was battling in a tough market.
Throughout the next 12 months Coronis transformed the business from the brink of closure to improve sales and profitability.
“Heffernan is now precinct leader, continues to manage the business and receives his share of the profit,” says Coronis, who runs the real estate network Coronis Property.
“We wrapped our name and systems around it and went from not making sales to eight a month. It is the same team, location and people, but they are doing a lot better because of our in-house systems.”
Coronis is continuing along the acquisition trail and plans to purchase another agency in Springfield Lakes.
The agency network also hopes to open offices in Forest Lake, Sunnybank, Ipswich, Nerang and possibly Lismore in northern NSW.
The expansion is part of the Coronis Project 50 strategy of opening 50 offices by early 2017.
“We like to find the right-cultured people [who] have set values in our business and what we want to achieve in life for our families,” he says.
Coronis says the company is financially stable and profitable. Revenue increased 14.7 per cent to $17.9 million in the 2012 financial year.
“We are setting up a corporate structure where we can have very good economies of scale. The benefit to our customers is we send a consistent message and level of service to them,” he says.
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