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Company Profile - LMW Hegney


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Company Profile - LMW Hegney

  1. 1. COMPANY PROFILE BackgroundLMW Hegney was formed as the result of a joint venture between two longstanding propertyvaluation and consultancy companies comprising of east coast firm Landmark White Limited(LMW Group) and Western Australian based firm Hegney Property Valuations (HegneyProperty Group).By bringing together each company’s existing resources of a combined 16 offices and 215property professionals nationwide, this amalgamation provides our clients with:  National representation, giving a greater geographical servicing capability  A true level of consistency of product in valuation reporting and service standards  Maximising of the strength of our combined experience and market knowledge.Both of the original company brands of LMW and Hegney have operated in the valuationindustry in their own right with a combined total of 35 years and share the same core valuesin offering leading expertise in valuation, property consultancy, buyer’s advocacy and researchwithin both the residential and commercial markets of Australia.LMW Hegney understands the complexities involved in the provision of quality valuation adviceand consistent and reliable risk profiling. Our “principle based” focus on our businesses allowsus to implement processes that are understood and adopted by our valuers to ensure weexceed client expectations.LMW Hegney has developed a unique software solution whereby all data from every valuationwe undertake in each suburb is collated into a centralised database. Importantly, thisinformation is incorporated into our day-to-day operations ensuring consistency through‘benchmarking’ of important property information for use by our staff. This arms our valuerswith live access and prompts comments for any issues that exceed the LMW Hegneyparameters together with management review.Each of our residential valuers primarily operate in the same region each day and havedeveloped a strong familiarity of all aspects of property values and market issues specific tothat local area. Similarly, our commercial team of valuers each have their areas of skill andspeciality in relation to property types and field categories. This approach provides our clientswith expert knowledge and an acute awareness of values and market activity resulting in anaccurate assessment. Liability limited by a scheme approved under Professional Standards Legislation
  2. 2. Importantly, we operate with great flexibility and total independence with our serviceproviding comprehensive unbiased property advice and valuations on most property typesthroughout Australia.National RepresentationLMW Hegney currently has a network of 16 offices located throughout capital cities andregional Australia with full service representation in the states of:  New South Wales  Victoria  Queensland  South Australia  Western Australia  South AustraliaOngoing expansion of further franchise offices is part of our overall development strategy andthese opportunities will be carefully selected in order to maintain our key objectives for thisgrowth, being:  All LMW Hegney offices must share our company vision, business philosophy and strategic objectives;  Display 100 per cent commitment in adhering to LMW Hegney policy, procedures and valuation processes. All LMW Hegney personnel must comply with professional industry standards, codes of conduct and at all times act with the utmost integrity and in our client’s best interests.Key national contacts within LMW Hegney are:West Coast & Central States of Australia East Coast States of AustraliaMr Nathan King – Director LMW Hegney Mr Glen Coonan – Director LMW HegneyPhone: (08) 9489 9489 or 0416 082 499 Phone: 0419 178 302Email: Email: our finance clients have many varied and specific needs, we provide the choice of contactoption to either outsource valuation requests to the individual LMW Hegney offices oralternatively, deal with just one main central point of contact who will act as a nationaldistribution point on their behalf.Core BusinessThe core business of LMW Hegney is to provide quality accurate property valuations andindependent property advice based on sound principles and objectives.The structure of the LMW Hegney national brand allows a number of key advantages:
  3. 3.  Importantly, our chosen business model retains local market knowledge and ownership within each office which we consider critical for the successful operation of any business.  LMW Hegney controls all offices through IT and valuation solutions to ensure that consistency and quality of product and processes are delivered to all clients.  We operate with purpose-built calculation models and benchmarking processes which allow transparency – we consider these are a vital risk management component of our operation.In addition to valuations, our company has developed longstanding associations with themajor banks and lending institutions in providing them with property information and advice toguide them with their lending decisions and risk assessments.LMW Hegney offer consultancy and advisory services tailored to the individual requirements ofour clients. With an added focus on research and data analysis, we are well placed toundertake research projects of varied scopes to assist clients in their strategic propertydecisions.The following flow chart provides an overview of our LMW Hegney company structure: LandMark White Ltd HPG Nominees Pty Ltd HPG Nominees Pty Ltd LMW Group Ltd HPG Nominees Pty Ltd as as Master Franchisor Master Franchisor Latrobe Holdings Pty Ltd Valuations Pty Ltd LMW Residential Pty Ltd Perth Office Mandurah Office as as Franchisee as Franchisee Franchisee Southpoint Nominees Bekenstein Pty Ltd Pty Ltd Albany Office South West Office as Franchisee as Franchisee Val Group Pty Ltd Adelaide Office as Franchisee
  4. 4. The franchisees are individual entities providing valuation and property advice through theirown entity, however they trade as LMW Hegney through the Franchise agreement whichassigns certain obligations on them for the right to use the LMW Hegney brand.We have specifically chosen to adopt a franchise model as it maintains ‘on the ground’ownership and management which provides a strong framework to ensure a focus on commongoals and utilises unified systems to deliver a consistent national product to clients.The Board of LMW Hegney has been intentionally structured to incorporate four NationalDirectors comprising two representatives each from the Landmark White Group and HegneyProperty Group. This balance ensures decisions can be made efficiently and benefits all LMWHegney national offices and gives the best outcome for our clients.The National Directors of LMW Hegney include Nathan King, Rod Davidson, Glen Coonan andBrad Piltz. In addition each network or franchise offices has localised Directors to ensuresmooth operation of each office.Our ServicesAs one of Australia’s leading valuation companies we offer market expertise in both residentialand commercial market sectors. LMW Hegney offers the following services:  Valuations – Residential and Commercial  Property advisory and consultancy  Research and market analysisOur valuers are fully independent with no vested interest in the properties they value. Avaluation report is a professional and legal assessment of the value of the property and thereports are prepared for many different purposes including but not limited to:  Mortgage security/refinancing (LMW Hegney valuations are accepted by all major financial institutions)  Pre purchase and pre sale, setting reserve pre auction  Divorce, family/partnership settlement  Insurance replacement cost assessment  Capital gains tax calculations  Stamp duty when transferring property ownership  Estate/probate proceedings  Rental determination, insurance  Portfolio reviews, self-managed superannuation  Current or retrospective market value  Litigation, legal disputesLMW Hegney valuers are Certified Practising Valuers (who are members of the AustralianProperty Institute). The valuer will conduct a full inspection (both internal and external) of thenominated property, undertake thorough research and analysis of the local market andprovide a detailed report providing all relevant information on the subject property andcommentary on any issues deemed to affect the current market value of the property.
  5. 5. Service StandardsLMW Hegney operates within a company mantra built on service to clients, industry integrityand striving for perfection in valuation standards. This mantra is built on the followingcomponents:  Quality and Risk Our belief is that quality of service and product is a direct result of the combination of competent staff, ongoing training and investing in technology which provides us with critical information throughout the valuation process to ensure all aspects are well considered and limitations explained. We have developed these systems with the philosophy that our client’s risk is our risk. Risk management is an integral component of our operation and we take a structured approach to managing and auditing risk at all levels.  Improved Accuracy The LMW Hegney system benchmarks both historical and current data to provide our valuation staff with additional information to ensure the highest level of accuracy. Our IT platform was created largely as a result of seeking feedback from our clients, listening to their individual needs and implementing functions that deliver what they require. Our system facilitates regular auditing of each valuation and allows for the ongoing development and improvement of our valuation practices.  Streamlined Processes Our systems of operation incorporate compliance checks to minimise enquiries post- despatch of valuation reports. Our reports exceed traditional valuation report requirements for ‘evidence to value logic’ and ‘risk profiling’ to ensure that our client is provided with a clear understanding of the property being valued. We continue to invest heavily in better, faster and smarter technology solutions.  Turnaround Times We work on the premise that turnaround times are minimised through correct resourcing, specialisation of valuation types or geographical location combined with streamlined processes. These factors all work to create an efficient workflow and minimise turnaround times.  Product Mix LMW Hegney is resourced to provide all levels of valuation services including desktop and kerbside assessments, standard (‘Property Pro’) finance reports and comprehensive full valuation reports. In addition to the mainstream valuation services, we also operate a buyer’s advocacy service, property consultancy/advisory and research division. In recognition of our independence and market expertise, our company and subsidiaries are regularly invited to provide property comment to the media and present as keynote property speaker at many various industry events.
  6. 6.  Cost Efficiencies Our company has a strong commitment and history in investing significant capital, time and resources into the development of cutting edge technology to better service our clients and the valuation industry as a whole. This focus has allowed us to provide a cost efficient service that does not sacrifice quality or due diligence in the process. Importantly, we have developed these systems as a direct result of our own research in identifying the needs of our clients. This has provided us with a deep level of understanding and confidence in these systems and the direct benefits that they offer.Capability and ExperienceLMW Hegney is dedicated to ensuring that our systems, technology and practices arecontinually at the forefront of the valuation industry. We understand that our staff require thebest possible resources in order to deliver to our client’s expectations. Throughout ourcompany’s evolution, we have continued to expand our range of property services to reflectthe changing needs of clients. We take our client relationships very seriously with our focusbeing to grow these relationships and maintain longstanding associations with them.We are very selective when recruiting our valuation staff and carefully consider eachindividuals level of experience, property expertise and customer focus. The combinedcompanies in forming LMW Hegney are both well established valuation firms who have anenviable track record of sound business acumen and a respected reputation based on integrityand ethical practice.What Sets Us Apart – Why Use LMW Hegney?Most valuation firms offer similar products and services, however our unique focus on analysisin our quality control systems, our principle based approach to risk profiling and controlledexpansion are key points of difference that allow us to differentiate ourselves in themarketplace. We are passionate about what we do and how we do it, always striving forimprovement and personal growth both as people and property professionals.Care is taken in our staff selection and our focus is to engage service orientated people whobring the highest levels of property expertise and customer care to benefit our clients.As our company’s basic philosophy is to ‘help people make better informed property decisions’we take this role very seriously and continually strive for perfection in what we do.