Australian real estate agents

PHOTO: Top Australian real estate agents are thriving. FILE

New analysis has revealed that the top-performing real estate agents nationwide are selling 40 more properties per year than they did ten years ago. to launch real estate industry recruitment site

Delving into the archives, REB has analyzed the changes in Australian real estate over the past decade. Specifically, we’ve conducted an extensive examination to compare the requirements for being classified as a Top 100 ranked agent in 2013 with those of today (2023).

The recent release of the Top 100 Agents 2023 ranking by REB highlighted that these exceptional agents collectively sold an impressive 11,642 residential properties, with a total value of $23.6 billion in 2022.

On average, each agent who made the ranking sold 116 properties, amounting to a combined value of $236.4 million throughout the year. to launch real estate industry recruitment site

Looking back at the 2013 ranking, when the real estate industry operated in a vastly different property market, the transaction figures among the top 100 agents were significantly different.

In 2013, a Top 100 agent sold an average of 76 properties per year, equivalent to 1.46 properties per week.

Today, a top agent can expect to transact 40 more homes in a year, with an average of 2.23 transactions per week according to the latest ranking.

Undoubtedly, these gains are a result of increasingly astute business practices and the emergence of technologies that have brought new efficiencies for agents.

As previously mentioned, the figures drawn for the 2013 ranking were based on a distinctly different property market.

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This difference becomes even more evident when comparing the total value of residential properties sold by the agents in the ranking. In 2012, the collective value of transactions amounted to $5.76 billion.

When accounting for inflation over that period, with an average annual inflation rate of 2.3 percent, that figure would have only risen by 26 percent to $7.2 billion.

In contrast, the Top 100 Agents 2023 ranking recorded a staggering total value of $23.65 billion in transactions during the 2022 calendar year. This means that the value of transactions made by Australia’s top agents has almost quadrupled in just over a decade.

While the number of transactions conducted by Australia’s top agents has not yet quadrupled, the significant gains achieved by the property market during this period are evident. With emerging technologies and cutting-edge systems, this trend could soon change.

Further evidence of the property market’s extraordinary growth post-pandemic is reflected in the average sales price of properties sold by a Top 100 agent. In 2013, the average price was $876,126. However, in the latest ranking, the average transaction fetched a sale price of $2.173 million.

So, what else has changed over the course of 11 years?

In 2013, the average Top 100 agent had 13 years of industry experience. However, it is clear that experience now plays a more influential role in success, as the average Top 100 agent in 2023 boasts 18 years of industry experience.

With higher transaction volumes, there has also been a corresponding increase in the number of support staff employed by Australia’s top performers. Currently, the average Top 100 agent has a team of 2.36 support staff members, compared to 1.6 in 2013.


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