Selling up but staying in touch

"It is business as usual for our customers," Kath Cruickshank said after selling her business,...
"It is business as usual for our customers," Kath Cruickshank said after selling her business, Frankton Real Estate, to the Ray White real estate chain, but kept the adjoining cafe On the Verge. Photo by Henrietta Kjaer.
"It is time to let my "baby" grow while I try to slow down a little," Kath Cruickshank said of her decision to sell her 5-year-old independent business, Frankton Real Estate, to major real estate chain Ray White on July 1.

Mrs Cruickshank (62) already had 16 years' experience in the real estate business, including establishing two other real estate companies, when she decided to open a cafe in Frankton called On the Verge - along with what she called a "boutique" real estate business.

"It has always been my main thing to sell properties. But as an independent company I had to try to come up with an idea about how to stand out from the crowd. By having the property listings on display in the cafe, where customers could view them in a relaxed atmosphere, I gave my vendors something no-one else did," she said.

"Customers can stop by for a cup of coffee and one of our homemade cheese rolls - or they can find themselves a new $2 million home. For me, it is all about working for people."

Most of the Cruickshank family is involved in the business one way or another.

Mrs Cruickshank has three daughters and a son working in the company, and she said they would continue to help run it, including the property management of rental homes.

Though the finances were tight last year, Mrs Cruickshank said "a spate of ill health" had prompted her decision to sell the business.

"Every real estate company felt the pinch last year. But sales have picked up again for us, so that was not the main reason to sell. When I suddenly found myself in hospital for a day, I thought it was time to stop and think about how I wanted to live my life."

"People have often seen me as a bit of a tornado, and I always want to be involved in everything. But the long hours are beginning to take their toll, and my children were pushing for me to slow down. So I decided I wanted to stay around for longer, and enjoy some quality time with my first grandchild," she said.

She said the people from Ray White understood the concept she had created with the cafe, at the intersection of the highway and Kawarau Rd leading to the airport and the Remarkables Park shopping centre.

The business was bought by a partnership comprising Richard Newman, of Ray White Arrowtown, and the three owners of Ray White Queenstown: Bas Smith, Cameron Reed and Gavin Castles.

They said they were pleased to have the Cruickshank family stay on board.

"The Ray White organisation is always looking for people with integrity and values. The Cruickshank family is well-respected in the community, and we are happy we could retain them in the business. It is still a family business, though we might be looking towards further growth by adding more agents," Mr Newman said.

"The position at the gateway to town was important for our decision to invest in this office. The area around Frankton, Lake Hayes Estate, Jack's Point and the future residential areas at Five Mile and Ladies Mile will undoubtedly be the main growth areas around Queenstown, so it was important for us to consolidate our presence in this area," he said.

Mrs Cruickshank said one of her main reasons for selling was to give her clients access to the Australian market, where Ray White has a strong presence.

The organisation has close to 1000 offices throughout Australia, New Zealand and Southeast Asia, 134 of which are in New Zealand, and it sold more than $25 billion worth of properties last year.

She said she was still considering whether to hold on to the cafe, or try to build it up further with a view to offering it for sale.

"Now that I am just a sales agent, I can focus more on the customers, and hopefully have a bit more time to myself. I could even go on a holiday, which I have not done for a very long time."

She was proud of what she had achieved with her business, and said her only concern was to let her loyal customers know nothing had changed at their end.

"The look of the office might have changed, with the new Ray White signage, but the same people are still on board. The only difference customers will feel is that their properties will reach a larger audience. And the cafe is still open for a coffee and a chat," she said.

 

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