Real Estate Business can officially reveal the nation’s top real estate group.
The country’s best performing real estate groups have now been ranked and revealed in Real Estate Business’ Top 20 Real Estate Groups ranking, with Elders Real Estate taking out the top spot.
Elders was closely followed by LJ Hooker and Harcourts, both of which also performed strongly across the core metrics used to assess the groups that entered this year’s inaugural ranking.
These key metrics used to assess the real estate businesses included a range of factors accross both the property management and sales functions, assessing scale and efficiency. All data was submitted by senior management from each group’s head office.
Of all the groups that made the Top 20, the total annual value of properties sold topped $50 billion, with the total sales generated annually by each agent averaging $6.4 million. The average number of properties each property manager handled was 85.
While some of the country's big groups performed strongly, smaller boutique-style networks also made their presence felt.
Brendan Whipps, head of real estate at Elders, said the group’s long history and extensive networks helped deliver the company's strong result.
“Our size and distribution sets us apart with a referral network of more than 2,000 company-employed people in addition to the real estate franchise network,” he told Real Estate Business.
“The Elders brand is an important aspect because it doesn’t just represent real estate, but the expertise that extends the entire network of branches across the country.”
“The brand generates strong enquiry through all mediums and the management team have long standing industry reputations that are well connected.”
Mr Whipps added that the group’s company-owned and franchise operation has been built on six ‘pillars’. He said these focus on “People, Profitability and Wealth; and Sales, People and Cash, respectively".
“During the year we have invested in these six pillars and implemented a number of initiatives to manage our end-to-end processes,” he continued. “This has led to improvements in top line revenues, efficiencies and a better way to do business."
Only recently, the group moved its franchise offices to a cloud-based information technology system, a shift that has helped drive better efficiencies throughout that part of the network.
While the Elders board has announced plans to sell the company’s rural division, which incorporates the real estate business, a company spokesperson said it would be "business as usual" for the group in the meantime.
To see the full list of Australia's Top 20 Real Estate Groups look out for the November issue of Real Estate Business, hitting desks from next week.