The 2017 REB Top 100 Agents has been revealed. Click HERE for your copy of the ranking.
A WORD FROM OpenAgent
Partner of the REB Top 100 Agents 2017
The REB Top 100 Agents ranking, partnered exclusively by Open Agent, is the pre-eminent ranking of agents in Australia and the benchmark for success in residential real estate sales.
The ranking has set the bar for professional excellence for six years, identifying the best salespeople in the industry. REB Top 100 Agents is the standard agents strive for.
Those who make the prestigious list are emulated, sought-after and held in the highest esteem, even by competitors who are chasing their tails.
Against a backdrop of industry disruption, concerns over housing affordability, a nation-wide pressure on listings, plus varying markets across Australia, this year’s REB Top 100 Agents unveils an emerging pool of agents who dominate the top of the ranking, setting an impossibly high standard that will be difficult for their peers to surpass in coming years.
The metrics used to generate the REB Top 100 Agents 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 against their peers, with the combined comparative score used to determine the top-ranked agents in the country.
Since its inception, the REB Top 100 Agents has grown significantly – and 2017 is no expectation.
The total number of sales rose 3 per cent to 9,302 in 2017 for the Top 100, from 9,012 in 2016. Confined to just the Top 10 agents, this elite group collectively increased by 23 per cent to 1,555, up from 1,264 in 2016.
Similarly, total dollar value of sales rose 2 per cent to $14.2 billion for the Top 100, up from $13.9 billion in 2016, and 17 per cent to $3.2 billion for the Top 10, up from $2.7 billion in 2016.
This trend was consistent for average dollar value of sales, which rose 2 per cent for the Top 100 and 17 per cent for the Top 10 to $142.2 million and $318.7 million respectively.
An analysis of the statistics reveal the profile of a Top 10 agent as someone who has grown in experience year-on-year – from 18 (in 2016) to 22 (in 2017) years in the business. They are in their mid-40s and have three support members in their team, each one an essential resource for the agent to originate more and higher-value sales.
Contrast this against a typical Top 100 agent. Their average experience is 15 years, they are in their early 40s and have only two support people who are significantly less productive than those in the Top 10, contributing just $49 million each in properties sold.
Trend-wise, the average experience of the Top 10 grew 21 per cent year-on-year against 2 per cent of the Top 100, while the average productivity grew 2 per cent in 2017 in the Top 10 but fell 1 per cent from 2016 in the Top 100.
Unsurprisingly, given the headwinds facing the industry and fluctuating market conditions, the average sale price fell 5 per cent for the Top 10 in 2017 to $2.0 million (though they sold more), and 1 per cent for the Top 100 to $2.1 million.
Average commission remained stable for both the Top 10 and Top 100 year-on-year, between 1.78 per cent and 1.84 per cent. Similarly, days on market drifted for both groups from 25 to 28 for the Top 100 and from 21 to 23 days for the Top 10.
REB will deliver more detailed analysis in the coming months on the Top 100 Agents – and deliver inside stories from highly ranked agents.
For the first time ever, this year’s Top 10 are unveiled in a special podcast. Tune in now to hear how the top agents were ranked – and the results they delivered this year.
To subscribe to the weekly REB Top 100 Agents on iTunes, click here.