Brothers John and David Bayley are to be inducted into the New Zealand Business Hall of Fame after 46 years as partners with Bayley Corporation Limited.
John and David are the second generation of Bayley’s to successfully own and run the parent company of New Zealand’s largest full-service real estate agency.
John, after returning home from working in the mines and drilling rigs in Australia, established Bayleys Real Estate with his father Graham and mother Pam in 1973, using the family home in Pakuranga as their first registered office.
In November that same year, the company moved to its first commercial office premises in Papatoetoe – a three-person company consisting of Graham, John, and receptionist Pam.
Second son David joined the family business the following year.
Much of Bayleys’ early business focused on commercial and residential development of former farmland in the South Auckland region.
In the early 1980s Bayleys established an office in Auckland’s Central Business District where it became a substantial brand in the commercial and industrial real estate markets.
Graham would sell his shareholding in Bayleys to John and David in the late 1980s.
Throughout the 1990s, John Bayley led a strategic initiative to expand Bayleys nationally across all sectors of the property markets, in all parts of the country, and a national franchise network was established.
That network today has 93 offices and some 2000 employees.
From earning a commission of $300 from their first sale, Bayley Corporation recently completed circa $12 billion in sale and lease transactions to the year ending March 31, 2019.
During their 46 years in the real estate business John and David, and Bayley Corporation, have made significant community contributions – culminating in the establishment of the Bayleys Foundation in 2014. The group’s philanthropic activities extend across charitable organisations, schools, universities, numerous sporting and cultural groups, and community activities.
In 2019, Bayleys Real Estate became the New Zealand affiliate for global property sales and marketing network Knight Frank, connecting the New Zealand agency to 60 markets around the world serviced by Knight Frank’s 15,000 staff.
John and David have remained highly involved in the sales broking facet of the real estate agency business based on their long relationships with both vendors and purchasers, and still play key roles in managing large sales projects and working with substantial private and corporate clients both on and off-shore.
In a strategic succession planning process, David’s son Mike was brought into the business early in his real estate career, and after working his way “up through the ranks”, Mike is now the company’s managing director and chief executive officer.
Celebrate the 2019 Laureates as they are admitted to the Business Hall of Fame at the annual black-tie gala dinner held at the Cordis, Auckland on August 15. Tickets available online at www.businesshalloffame.co.nz.