Go Gecko..
- Thread starter willair
- Start date
Some offices in administration.
http://www.couriermail.com.au/life/...oses-two-offices/story-e6frequ6-1226099314119
I inspected a property week-end before last. Fees were $6,950 to sell. Service from this particular selling agent was less than ordinary. If I was a vendor I would not be using them. I think it is a case of you get what you pay for.
http://www.couriermail.com.au/life/...oses-two-offices/story-e6frequ6-1226099314119
I inspected a property week-end before last. Fees were $6,950 to sell. Service from this particular selling agent was less than ordinary. If I was a vendor I would not be using them. I think it is a case of you get what you pay for.
Voluntary administration, with up to 8 company owned stores to go
http://news.ninemsn.com.au/article.aspx?id=8275366
I thought that the founder of the group used to belong to this forum.
http://news.ninemsn.com.au/article.aspx?id=8275366
I thought that the founder of the group used to belong to this forum.
Thanks,the one i walked in yesterday at Moorooka on the southside of Brisbane was still trading,still with same sale price ,it's not for me just the 65 old man who has a property just down the road from one of our rentals at FloodZone Rocklea wants to sell, i will let you know how he goes the properties value has gone down 30% due too the jan floods,..
Its a shame as overall I believed the concept had merit but it will take decades to change the minds of vendors from accepting fixed fee structures over commissions when it comes to real estate. RE agencies aren't cheap to run either and the fees need to factor in those listings that don't convert to sales. Go Gecko simply weren't charging enough to stay in business.
They are in business. Voluntary administration means they are in trouble but are still trading. It appears company owned outlets are closing or threatening closure, franchise outlets are still ok.
Go Gecko
Hello everyone,
Some facts regarding Go Gecko. The media reports were not accurate, what a shock hey!!
I was a Director and Board Member until Sept 2008. In Feb 2009 BRW announced Go Gecko as second best Franchise in 2 of 3 categories. Sadly I think this in part was a cause of Head Office's demise as it said they were right in taking the direction of being a Franchise business which is not the primary focus of our original intention.
Go Gecko was/is made up a number or Trusts and Companies. One of those companies, the company that ran the corporate owned offices was voluntarily placed into administration. The other companies that own the IP, runs the franchise networks, owns Property Management and various other parts of the Group are "unaffected".
The franchises are like all groups, there is excellent offices and others that don't follow the system, don't work hard enough or sit back thinking because they paid franchise fees that it was their job to make the business profitable.
Geoff Doyle, who as CEO was the face of the business, was not the Founder of Go Gecko. We bought the group back in Feb 2006 from the original founders.
It is a fallacy and simplistic to say Go Gecko isn't charging enough. I do believe, and was vocal back in 2008 about a change in the commission structure which fell on deaf ears, but for entirely different reasons than just for survival.
Properly run and with a tighter selection policy of Franchisees, Go Gecko is a very very good concept. Sadly, the board failed in its performance, lost direction of the original concept, didn't listen to advice from those with experience in running real estate businesses and dug a big financial hole that led to the inevitable conclusion.
We all lost a lot, none more than Geoff. He is a very good man who put himself and his family at great financial risk to protect the other Directors and it has cost him dearly. Very happy to say he remains one of my closest friends.
Hope everyone at Somersoft is well
Hello everyone,
Some facts regarding Go Gecko. The media reports were not accurate, what a shock hey!!
I was a Director and Board Member until Sept 2008. In Feb 2009 BRW announced Go Gecko as second best Franchise in 2 of 3 categories. Sadly I think this in part was a cause of Head Office's demise as it said they were right in taking the direction of being a Franchise business which is not the primary focus of our original intention.
Go Gecko was/is made up a number or Trusts and Companies. One of those companies, the company that ran the corporate owned offices was voluntarily placed into administration. The other companies that own the IP, runs the franchise networks, owns Property Management and various other parts of the Group are "unaffected".
The franchises are like all groups, there is excellent offices and others that don't follow the system, don't work hard enough or sit back thinking because they paid franchise fees that it was their job to make the business profitable.
Geoff Doyle, who as CEO was the face of the business, was not the Founder of Go Gecko. We bought the group back in Feb 2006 from the original founders.
It is a fallacy and simplistic to say Go Gecko isn't charging enough. I do believe, and was vocal back in 2008 about a change in the commission structure which fell on deaf ears, but for entirely different reasons than just for survival.
Properly run and with a tighter selection policy of Franchisees, Go Gecko is a very very good concept. Sadly, the board failed in its performance, lost direction of the original concept, didn't listen to advice from those with experience in running real estate businesses and dug a big financial hole that led to the inevitable conclusion.
We all lost a lot, none more than Geoff. He is a very good man who put himself and his family at great financial risk to protect the other Directors and it has cost him dearly. Very happy to say he remains one of my closest friends.
Hope everyone at Somersoft is well
