Rebranding Mike Pero real estate franchises as Raine & Horne still leaves real estate staff bound by earlier Mike Pero restraints of trade should they leave to set up in competition, the High Court signalled in a dispute over what was formerly a Southland Mike Pero franchise.
After Australian financial service group Liberty Financial Group bought out Mike Pero’s real estate franchises in 2020, it set about re-branding the seventy-something branches as Raine & Horne.
Not all Mike Pero franchises are enamoured with the re-brand.
The High Court was told Sheree Williams and Kathrine Bratschi, holders of a Mike Pero franchise in Gore, called it quits.
Ms Williams paid the $50,000 termination fee stated in their Mike Pero franchise agreement, plus a further sum to be released from a restraint of trade agreement preventing her from selling real estate in Gore for the next two years.
Ms Bratschi did not do similar, before taking up work in 2025 with rival firm Aritzo Real Estate.
She claimed in the High Court that her contract was with Mike Pero and that newcomer Raine & Horne could not enforce a Mike Pero restraint of trade against her.
In a preliminary High Court hearing, Justice Osborne ruled Liberty Financial has a strong argument that re-branding does not affect its right to enforce existing Mike Pero restraints of trade.
Whilst allowing Ms Bratschi to continue working for Aritzo, he ruled she must keep full records of all sales made for two years through Aritzo, should a later full court hearing decide Liberty is entitled to damages.
The court was told Raine & Horne has yet to set up shop in Gore since Liberty’s Mike Pero branded franchise folded.
Raine & Horne New Zealand Pty Ltd v. Bratschi – High Court (8.12.25)
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