Infinity general manager Marc Bretherton said the company had seized an opportunity to purchase the First National brand, after the Wanaka-based office and staff were bought out by competing real estate agents Locations Realty last month.
Real Estate Institute of New Zealand Central Otago spokesman Ross Rainsford said some real estate agents in Wanaka were struggling to understand Infinity's move and were suspicious.
Mr Rainsford is a former owner of Wanaka real estate company Locations, which he sold last year.
Infinity already had a real estate licence which enables it to sell sections and properties as part of the company's business operations, Mr Bretherton said.
Buying into an established national real estate brand was a "reasonably logical" move.
Infinity intends to locate its First National agency office on the ground floor of its flagship headquarters building on upper Ardmore St in Wanaka.
He declined to discuss the purchase price paid by Infinity, citing commercial sensitivity, but in elaboration said a monthly sum was paid to the First National Real Estate co-operative for the use of the brand.
There were 70 members in the co-operative, spread around New Zealand, he said.
Infinity already has a sales team based in Wanaka, dealing predominantly in sections and subdivisions developed by the company.
"We're in the process of recruiting agents to work in a small team," Mr Bretherton said.
There was some concern among other Wanaka agents that Infinity's purchase of a First National agency might affect "traditional relationships" between the company and other real estate firms, Mr Rainsford said.
Mr Bretherton disagreed with such a suggestion and said the First National move would not affect Infinity's existing relationships with real estate agents and companies, which he described as "excellent".
"We think it is a great opportunity to buy into a strong market brand and what is a viable business model," he said.
Infinity is developing Wanaka subdivisions at Peninsula Bay and Far Horizon, and also at Albert Town, where its Riverside project continues to expand.
The Otago Daily Times understands Infinity sections account for about a third of sales at some of Wanaka's real estate agency firms.
Infinity also has a large-scale development under way at Pegasus, north of Christchurch, where it is building a new town, and the company is involved in tourism ventures in Fiordland.
