Lj Hooker

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LJ Hooker today announced its new brand tagline ‘When you know, you know’.
The tagline is a modern evolution of the brand’s well-known tagline from the 1980s ‘nobody does it better’. 
LJ Hooker Chief Operating Officer Ruth Trewhella said extensive research underpinned the philosophy of the new brand tagline, with the capability of leading the company into its century celebrations.  
She said, “we felt it was time to move on from what has been a very effective brand expression on our experience to something that’s far more reflective of what we stand for today, but that’s also consistent with our heritage. 
"Our new brand tagline is an all-encompassing statement that reinforces our customer-first approach to the market. 
“It also represents LJ Hooker’s values and capabilities while allowing our offices to customise it to their local market,” said Mrs Trewhella. 
They have launched their brand new tagline via an outdoor marketing campaign, with digital screens across more than 250+ shopping centres nation-wide.
LJ Hooker Head of Marketing James McGregor said the new creative centres on key customer moments and emotional drivers supported by instinctual decision-making in real estate.
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LJ Hooker reveal new brand tagline

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LJ Hooker has appointed KPMG to help restructure the group via a voluntary administration process.
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LJ Hooker chairman Janusz Hooker has sought out three KPMG accountants as administrators to five known LJ Hooker entities.
The appointments included LJX Pty Ltd which is the shareholder in the Lower North Shore AVNU agency, LJHA (LNS) Pty Ltd, which is not in administration, nor the LJHA (LNS) ultimate holding company, Austral Pty Ltd.
The appointments were made on Thursday.
It comes as LJ Hooker Group's directors reportedly seek to recapitalise the wider business with fresh funds, along with a wish to simplify it's operations and carry less debt.
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The AFR reported the goal of chairman and founding family member (Leslie) Janusz Hooker - who bought back into the family business in 2009 - and former Macquarie dealmaker Bryan Weir was to emerge from the process with a simpler corporate structure.
"Sources close to the group" advised the administration would not impact the real estate agent's core LJ Hooker franchise business, or its employees.
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It was revealed by the AFR Street Talk column on Sunday.
Each of the entities was said to be a holding company - and not operating companies.
The five sit among 40 entities in the wider LJ Hooker Group.
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Documents filed with ASIC show Ryan Eagle, Philip Quinlan and Amanda Coneyworth were appointed administrators to entities including LJHRES which was set up in 2015 and LJHRES HOLDINGS which was set up in 2017.
LJX Labs and LJX Holdings have also had an administrator appointed.
After dumping plans for a $400m stockmarket float, Janusz Hooker, unveiled the LJX Lab in 2017.
The digital research and development vehicle was set to look to foster innovation by identifying, incubating and commercialising products in the prop-tech sector.
AVNU LNS chief performance officer Christine Mikhael resigned her directorship last Thursday from AVNU LNS.
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Janusz Hooker calls in KMPG administrators to restructure LJ Hooker

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Janusz Hooker, the grandson of the founder of Australia's real estate brand LJ Hooker, is poised to take control of the franchise group.
The Australian Financial Review reports Janusz Hooker and a big international backer are finalising negotiations to buy out the other partners in the 700 office network business.
The current chairman Greg Paramor along with high-profile investors, including RAMS founder John Kinghorn, bought the business from Suncorp in 2009 for $67 million.
With plans for a turnaround, repricing and possible float, it all took longer than expected with the business then up for sale nine months ago.
Hooker is its non-executive deputy chairman who controls a 10% stake. 
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The 700 office LJ Hooker network, launched by the legendary Sir Leslie Hooker in 1928, remains one of the nation's best-known brands.
Mr Hooker is a medal-winning Olympic rower. He was the founder of TiNSHED before returning to the family firm which he describes as a forward-thinking real estate agency enhanced by his grandfather's persistence, determination and success that "remains a foundation stone of the LJ Hooker philosophy".
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Janusz Hooker poised to buy back the family agency

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LJ Hooker has commenced a pre-initial public offering funding round, sources told the Australian Financial Review Street Talk column.
It's understood the firm is looking to raise about $20 million. 
Citigroup and Morgans is advising on the deal. 
The group has more than 700 franchise offices, an iconic real estate firm launched by Sir Leslie Hooker in 1928.
The AFR noted fund managers have been asked to compare LJ Hooker to Realogy Franchise Group, the $US5.5 billion parent company of CENTURY 21, ERA, Coldwell Banker, and Sotheby's International Realty which trades on a forward profit multiple of about 26 times. 
It noted LJ Hooker franchisees had in the past year sold more than $19 billion worth of property and increased the pool of properties under management to about 130,000.  
Sources suggested any ASX listing would not take place until early 2016.
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LJ Hooker readies for 2016 IPO

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LJ Hooker's long-planned $400 million initial public offering may have got delayed further until September, with UK real estate agency Countrywide chairman Grenville Turner flying into Sydney for meetings with potential investors, according to a report in The Australian.
Citi, the lead manager to the IPO, scheduled back-to-back meetings with potential investors to explain the revised listing date, the business strategy and point out the differences between LJ Hooker's float and the December-listing of property agency McGrath Ltd, reported the Australian business column Dataroom. 
LJ Hooker's listing was subject to completion of its merger talks with Victorian real estate firm Barry Plant, as the combined, bigger entity would look to emulate Countrywide by housing both brands in the same corporate structure and yet operating independently, the report said.
The listing would be under the name Empireal and when it lists would have nearly 10 percent market share, making it the largest in the sector.
Countrywide and LJ Hooker entered into a partnership in 2012 to expand their reach. LJ Hooker, an iconic real estate firm launched by Sir Leslie Hooker in 1928, has more than 700 franchise offices across Australia.
Turner was drafted in as a special advisor by Janusz Hooker, the majority shareholder.
The report said Hooker, Turner and Empireal's chief executive designate and the current CEO of LJ Hooker, Grant Harrod, updated investors about the status of the merger talks.
The perceived slowdown in Australia's property market and McGrath's poor show are possibly weighing in on LJ Hooker's IPO.
McGrath, whose shares fell below their IPO pricing on its first day on the ASX, have lost more than a third of their value in three months. They were trading at $1.34 in mid-morning trade on April 13 on the ASX.
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LJ Hooker public float may be delayed further: The Australian 

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The LJ Hooker agents behind the closure of their franchise in Glen Waverley have two of their Narre Warren properties listed for auction.
Judy Thanh Truc and her husband Joseph Ngo, who are at the centre of controversy after there were irregularities found in a LJ Hooker franchisee trust account, have listed the homes through Ray White.
Homeowners and tenants are said to have lost millions of dollar from the couple who were named LJ Hooker's "Best Team of the Year 2015", according to their now-offline website.
Six LJ Hooker offices in Melbourne have been closed and their franchise agreement has been terminated.
Jane Garrett, Consumer Affairs Minister said that Consumer Affairs Victoria had placed caveats on the two properties, to ensure the sale proceeds are retained as required.
Both are worth more than $1.5 million.
The move comes after Garrett earlier froze the trust funds from the franchises, the records of which are now being examined by CAV.
The two Cranston Close homes have been only owned for a few years.
The first was bought in 2014, when they paid $1.35 million for the sprawling contemporary family home with tennis court and built in playground.
<a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122627030">It has five bedrooms, four bathrooms,</a> two kitchens, home office and a cinema room.
The second was bought only last year, and is <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122626722" target="_blank">just two doors down</a>.
Bought in August, the $1.65 million home offers similar privacy on a one acre plot.
At the end of the circular driveway sits the five bedroom home with grand entrance portico.
Each of the five bedrooms have ensuites, there's a teenage retreat upstairs and a large upstairs open entertaining patio.
There is no word on the asking price for the two homes, but they are both available through Ray White Noble Park/Springvale agent Allison Grant for an in room auction on June 8.
Barry Plant, head of the Victorian estate agency that bears his name and which is in talks with LJ Hooker about creating a joint venture company, <a href="/news/53140-barry-plant-says-ljh-talks-will-continue" target="_blank">said the Melbourne trust fund missing millions matter would not affect their ongoing talks</a>. 
 
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LJH trust fund couple's Narre Warren homes for June auction

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The former LJ Hooker agent at the centre of controversy for allegedly misappropriating her clients money had her two Narre Warren houses passed in at auction on Wednesday.
Judy Tranh Truc planned to compensate the victims with the proceeds of the sales however neither were forthcoming.
The two properties on Cranston Close, were bought for a combined $3 million in 2014 and 2015.
The houses were auctioned by a team of Ray White Noble Park/Springvale agents.
Number 6-8 was the first of the two to be auctioned but was passed in at $1.5 million amid at least three bidders.
The second was even further away, firstly receiving a low-ball offer of $700,000, followed by a $1 million and $1.1 million vendor bid.
Interest again fell short of what the vendor paid for the home.
Ray White spokeswoman Lisa Pennell said the reserve for both properties were undisclosed. 
Both properties were slapped with a caveat by Consumer Affairs Victoria so the properties can't be transferred without official say-so.
Truc's legal representatives said the caveats were only in place to secure payment after auction and wouldn't block any sale.
“The caveats were placed on the properties with Mrs Nguyen’s consent,” the statement said.
“It has always been the intention of Mrs Nguyen to make all of the proceeds of the sale available to the victims. That is why Mrs Nguyen allowed Consumer Affairs to place the caveats on the properties.”
Judy Tranh Truc was a franchisee and had to close six of her Melbourne LJ Hooker offices in April.
To read more about the two homes <a href="/expert-insights/buying/53981-ljh-trust-fund-couple-s-narre-warren-homes-for-june-auction" target="_blank">click here.</a>
 
 
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LJ Hooker Glen Waverley agent's homes passed in at Narre Warren auction

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The real estate franchise business LJ Hooker is facing a December debt refinancing requirement, according to the Australian Financial Review's Street Talk column.
It comes after shelving plans for a $400 million float earlier this year.
The Street Talk column suggested the franchise business has around $60 million in obligations with a refinance due at the end of 2016.
A spokeswoman advised the company founded in 1928 by the legendary Sir Leslie Hooker was reviewing "a variety of capital management options to deliver its growth plans." 
It was in July last year that Janusz Hooker, the grandson of Sir Leslie, cemented his control of the business as a number of well-known shareholders sold out.
Among them were its former chairman Greg Paramor, former Leighton chief Wal King, developer and yachtsman Syd Fisher and RAMS founder, John Kinghorn.
In October, last year there was a pre-initial public offering cash call of around $20 million. 
There was also talk of a joint venture with Barry Plant.
Street Talk advised today there were whispers about Janusz Hooker and whether he will relocate to Singapore.
LJH advised Property Observer there were major factual issues with the story, including the claim that it owed any debt this year.
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LJ Hooker reviewing capital management options

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The chief executive of the real estate franchise business LJ Hooker, Grant Harrod has resigned.
It follows a decision by the board to ditch plans for its $400 million float on the ASX.
"The company was looking to IPO and when I came onto the board in 2014 it was a key objective," Mr Harrod told The Australian Financial Review.
"Now the board has made the call of not wanting to proceed and that has made the role redundant for me.
"My skills are not going to be utilised."
He advised that the company had no debt issues and its funding lines were secured until 2020.
Mr Harrod was hired three years ago after serving as chief executive of listed companies including the communication technology group Salmat Limited and office products company Corporate Express.
LJ Hooker's national market share sits behind Ray White with around 7 per cent.
The agency now hired global talent acquisition firm MitchelLake Group to conduct a search for a new chief executive.
LJ Hooker is one of the nation's best-known brands with more than 700 franchise offices and 8000 people across Australia and in New Zealand, the Pacific and Asia. 
Grant is also a director of Local Measure, a location based social media monitoring and customer experience management start-up technology company.
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Grant Harrod quits LJ Hooker

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LJ Hooker's think-tank LJX-Lab has developed an online and offline real estate agency model to work in partnership with the LJ Hooker business.
Named Settl, it is led by a start-up team staffed with people from Uber, Atlassian, Freelancer and Airtasker. It has been in development for 18 months and is expected to launch Q2 2017. 
L Janusz Hooker, chairman LJ Hooker, said LJX-Lab is perfectly placed to create and commercialize PropTech like Settl in Australasia.
“Australia is on the cusp of a wave of property innovation. By leveraging our global network of 650 offices and partners to identify the best home grown inventions and entrepreneurs, LJX-Lab is in a unique position to develop and launch technology for the real estate industry," he said.
“We have been closely monitoring global trends for several years, and have seen new models gain momentum in overseas markets like the UK. Settl will open up this new market in Australia, giving digital-natives the choice and control they want,” he said.
 “Australia is a unique market with its own distinct circumstances - and we’ve seen time and time again that standardised overseas models are not overly successful here.
“We see the ongoing human value added from agents a critical part of real estate services into the future. To ensure customer satisfaction, Settl’s unique hybrid “online to offline” model aligns the agent 100 percent with the vendor’s result.
“By developing a model that is custom-built by Australians for Australia, and scaling it with the LJ Hooker network, we will bring more choice to consumers while growing an exciting new market for the entire industry.” 
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