Angus Raine assumes chair from his father Max Raine at Raine & Horne

Angus Raine, the Raine & Horne chief executive office, will take on the additional role of executive chairman of the real estate group.

He will be taking over from real estate veteran Max Raine who has led the family-owned and operated firm since 1950.

“Angus is well placed for his new role as he’s been in the industry for 26 years, enabling him to see the peaks and troughs of the market,” says Raine & Horne non-executive board member Doug McCluskey.

“He has also won numerous real estate awards during his real estate agency career, and is well qualified, especially since graduating from Harvard Business School in 2009.”

Angus Raine (pictured below) advised his father will still be actively involved in the business, but decided to wind down his day-to-day activities after more than 60 years at Raine & Horne.

The appointment of Angus Raine continues the Raine family’s unbroken 130-year stretch at the helm. 

Mr Raine, a director of Raine & Horne Holdings Pty Limited since 1998, after stints with blue-chip international real estate firms, DTZ, Knight Frank and Savills, says that the firm’s core focus will remain on improving the performance and profitability of existing offices, as well as looking to open new offices both in Australia and overseas.

Mr Raine says the trend to larger, more financially robust real estate offices will continue to dominate the industry in 2013 and beyond.

“Last year for example, Raine & Horne Double Bay merged with Raine & Horne Bondi Beach to create a mega office with a staff of over 70 property specialists.

“Also, Raine & Horne Collaroy & Dee Why and Raine & Horne Commercial Northern Beaches employs 40 residential and commercial real estate specialists, while coastal heavyweight Raine & Horne Terrigal / Avoca Beach employs almost 40 team members, including five commercial specialists at its recently launched Raine & Horne Commercial Erina office.”