Max Raine (pictured above), former chairman of Raine & Horne, died on Feb. 22 at age 91, following a couple of years’ battle with dementia.
Raine, the third generation Raine family member to lead the Raine & Horne property group, was born in 1931. He joined the family business at age 18, and in 1973, became chairman of the group until his retirement in 2011.
A key innovator in Australia’s real estate industry, Raine pioneered the growth of suburban real estate offices in the late 1960s and introduced franchising to the property industry in the 1970s.
“The real estate industry has lost one of its most forceful and influential advocates with the passing of Max Raine,” said Brian Reid, director of Raine & Horne Group. “Max was a driving force in the generational change that saw the emergence of national franchising businesses in the 1970s and 1980s.”
Under Raine’s leadership, the Raine & Horne brand expanded to more than 300 offices across Australia. He also pioneered the first overseas franchised offices by launching a network in Malaysia in the late 1980s.
Today, Raine & Horne Group employs 3,000-plus people globally. The company sold $10 billion worth of real estate and managed more than 120,000 properties worldwide in 2022.
“Max could see the continuing sophistication of the commercial property market along with the emergence of listed property trusts and launched Raine & Horne Commercial in 1984 as a separate brand that boasts 36 offices around Australia today,” Reid said. “During his leadership, Max was responsible for lobbying the government and was constantly quoted in the media resulting in many changes to the industry and legislation.”
Raine served on many boards and committees, including the City Branch of the Real Estate Institute of NSW, Council of Auctioneers Education Committee, Corporate Committee of the Building Owners and Managers Association (BOMA), Anglican Retirement Villages Foundation, and Barnardos and Edina Retirement Villages.
In 1988, he was appointed by the NSW Government as chairman of a ministerial enquiry into inner-city accommodation.
“There is a hole left in my family that will eventually repair but will never be replaced,” said Angus Raine, Raine’s son and executive chairman of Raine & Horne. “At our upcoming state and national awards, we are celebrating 140 years of our business success, and now we will also celebrate my father’s life too.”
Raine’s funeral details will be announced in the next few days.
Use the comment section below to tell us how you felt about this story.
