After almost 30 years in operation, East Melbourne’s top independent agency, Caine Real Estate, has joined Australasia’s largest real estate group as Ray White CRE.
Directors Jacob Caine and Toby Campbell have been at the company’s helm since the recent retirement of founder Paul Caine, who launched the business in Melbourne’s eastern suburbs 25 years ago.
Mr Caine said the time was right to tap into Ray White’s scale and technology edge.
“In my opinion, the gap between Victoria’s boutique independent agencies and larger organisations is widening as economies of scale, technology, and the corporatisation of the real estate sector propels us into a new competitive landscape,” Mr Caine said.
“For Caine Real Estate, tapping into and leveraging the technology, marketing, training, and recruitment opportunities that Ray White offers is a critical competitive advantage.”
Mr Campbell said Ray White operated in a completely different league to its competitors and that the brand’s prestige was growing stronger in the Melbourne marketplace.
Having established a loyal community of clients in East Melbourne, a stone’s throw from the iconic Melbourne Cricket Ground, the team established their second office in Collingwood in 2021.
“We are so humbled to sell some of the most beautiful terrace homes and luxury apartments Melbourne offers,” Mr Campbell said.
“East Melbourne is not flashy; it is peaceful, elegant and refined.
“And Collingwood boasts Smith St, hailed by Time Out Magazine as the ‘coolest street in the world,’ making it one of our city’s most in-demand and vibrant hubs.”
The team of 12 was named Medium Residential Agency of the Year at the REIV Awards in 2023 and was a finalist in this category at the National Awards for Excellence in March this year.
Mr Caine said the team was also looking to deepen its roots in the surrounding suburbs, aiming to capture a sizable market share in Fitzroy, Richmond, and Carlton.
“We are proud to have gained the highest market share in East Melbourne, and we are determined to establish a strong foothold in more markets with the support and backing of Ray White,” he said.
“We aim to recruit more exceptional property professionals and become the home of top-performing agents across Melbourne’s inner suburbs.”
Mr Campbell said their common goal had been to eliminate the pain points from real estate transactions.
“Put simply, we make it easy for people to buy and sell. We understand that property is an ecosystem, and everyone deserves equal respect, no matter where they are on their real estate journey,” he said.
“We are a down-to-earth operation, focused first on people, then their real estate.”
Ray White Victoria and Tasmania Chief Executive Officer, Domenic Belfiore, said he was thrilled to welcome Jacob, Toby and the entire Ray White CRE team.
“When a business of this calibre joins our group, it is an incredibly proud moment and a sign that we are heading in the right direction,” Mr Belfiore said.
“I look forward to supporting Jacob and Toby and watching them continue to grow and thrive within our network of exceptional operators.”
