Real estate agents around Australia expressed great interest for years for REB to produce a ranking that specifically revealed the achievements of the most consistent agents in the country, regardless of location and experience.
REB commissioned Momentum Intelligence to create this ranking in 2017, and in its first year saw high levels of competition. In just two years, the REB Dealmakers ranking has become one of the most anticipated rankings in the industry, where agents around Australia enter their figures, despite the backdrop of disruption and an Australia-wide squeeze on listings they faced.
This ranking unveils a group of agents who are separating themselves from the pack by being true masters of their craft - in the face of some serisously challenging headwinds. This ranking has nothing to do with dollar figures, prestige areas or agents with years of experience. Instead it focuses on the consistent growth of an agent, year on year, month on month.
Momentum Intelligence uses metrics to determine the country’s top dealmakers, recognising excellence in the three cornerstones of dealmaking; volume, year-on-year growth and consistency of performance.
This year’s stats show that the profile of a top dealmaker agent is quite dissimilar to what it was in 2017, revealing some interesting trends. This year, the top dealmakers have 15 years’ experience and a consistency score of 97.61. The average deals they closed for the year is 114.4, average deals for the month is 10 and their average growth is 27.
This is against 13 years’ experience and a consistency score of 96.35 last year. Also, last year’s top 10 wrote more deals – 136 average for the year – and had a far higher average growth at 40.
This suggests that the profile of the top 10 dealmakers has become more experienced but their rate of business acceleration has cooled, along with their total volume, a situation perhaps not unexpected given the current market challenges.
Contrast this against a typical top 50 dealmaker. Top 50 dealmakers are, on average, two years less experienced. Their consistency score is lower too (96.51) as are all of their average growth, average monthly and average annual deal volumes – 24 and 88.9, respectively.
This too is largely inconsistent with a top 50 profile a year ago. Experience, growth - both monthly and annual - and consistency, dropped year on year – from 13 to 12 years, 8 and 100 deals to 7 and 88.7 deals, and from 96.72 to 96.51. Only growth increased for the top 50 in 2018 – from 18 last year to 24 this year.
Together, these stats suggest that as the markets begin to shrink, the country’s more experienced dealmakers are rising. Understandably, they are writing less deals but maintaining a solid level of consistency.