Exclusive research conducted by Momentum Intelligence, in partnership with Lawyers Weekly, has uncovered the firms deemed most attractive to Australian lawyers, with varied results across the board.
Powered by Momentum Intelligence, the REB Top 100 Agents annual ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. For the last 10 years, this ranking has been pivotal to industry, setting standards for all agents around the country.
This ranking has set a benchmark for success in residential real estate sales. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive and compete for each year.
Those who make the prestigious list are emulated, sought-after and held in the highest esteem, even by competitors who are closing in on them.
Momentum Intelligence is commissioned to create this ranking each year. Metrics used to generate the ranking include the number of properties sold, total dollar volume of properties sold and the average sale value. Each agent is ranked comparatively across these three metrics, with the combined comparative score used to determine the top-ranked agents in the country.
The total number of sales for the Top 100 rose to 9,507 in 2018, from 9,302 in 2017 and from 9,012 in 2016. Confined to just the Top 10 agents, the total number fell slightly to 1,378 from 1,555 in 2017, but remain up from 1,264 in 2016.
Similarly, total dollar value of sales rose to $15.6 billion in 2018 for the Top 100, up from $14.2 billion in 2017 and up from $13.9 billion in 2016. For the Top 10 it was up to $3.4 billion from $3.2 billion in 2017 and $2.7 billion in 2016.
This trend was consistent for average dollar of sales per agent, which rose to $155.6 million, from $142.2 million, for the Top 100 and to $344.0 million, from $318.8 million, for the Top 10.
An analysis of the statistics reveals the profile of a Top 10 agent as someone who has stabilised in experience year- on-year – from 18 in 2016 and 22 in 2017 to 21 years in the business in 2018. They have three support members in their team in 2018, the same as they did in 2017. Contrast this against a typical Top 100 agent. Their average experience has increased to 16 years, from 15 in 2017, and they have only two support people – the same as in 2017.
Somewhat surprisingly, given the continued cooling market conditions, the average sale price grew for the Top 10 in 2018 to $2.5 million, from $2.0 million, and to $1.6 million for the Top 100 in 2018, from $1.5 million.