Few in Australia understand the remarkable achievements of the Ray White family.
The old adage that family wealth is created and lost in three generations is proven wrong in the White family case. Head of the third generation, Brian white (pictured), is bringing in the fourth generation while expanding the business.
I have just attended their global conference on the Gold Coast and I was amazed to discover over 2,000 Ray White people had travelled from across the globe to attend.
Today this traditional real estate business has sales exceeding $20 billion a year from over 1,000 owned and franchised offices across Australia and increasingly, around the world.
They have opened offices in India, China, Honk Kong, Dubai, Lebanon, USA, New Zealand and Indonesia where they are the Number 1. real estate agency.
In addition, they provide mortgage finance, property management, insurance and IT services. And they sell luxury yachts internationally.
All this from the humble beginnings of a stock and station agent in the tiny town of Crows Nest, 44 kilometres north of Toowoomba with a population of 1,546.
First office opened in 1907
The original Ray White commenced his business there in 1907 at the age of 27. He didn’t move the business to Brisbane until 1926 when he was aged 46. He rented the most prominent building in the city next door to the GPO. Three years later The Great Depression hit, running through to the Second World War.
The business remained stable but in the one location. It was Ray’s son, Alan, that began the expansion in 1968, opening 15 offices across Queensland. Around 1972 his sons, Brian and Paul, joined the business and decided that if they were to survive, they had to expand interstate. They commenced this in 1976 and they haven’t stopped.
Two brothers, four sons
Both brothers remain committed to the business, with Brian travelling overseas constantly, guiding their new offices, as well as the Australian operations. Paul is committed to their rural agency business. Four sons drive other sections of the group.
At this year’s Australia Day celebrations, Brian White was awarded the Medal of the Order of Australia for his services to business through the real estate and construction sectors, as well as support for the arts.
The family states they are committed to being quiet achievers, remaining a family business but on the bigger world stage.
