Despite market woes in the Australian property market, real-estate industry innovator The Agency Group (ASX:AU1) has delivered scintillating results from both its east and west coast operations for the month of November 2018.
The Agency on the East Coast has returned its best month to date during the financial year with a gross commission income of $2.4 million.
The top result has been derived from 84 properties sold at a mammoth combined value of $188 million.
Contributing to the group’s success, two of the top five record prices on the East Coast were sold by The Agency: Bellevue Hill’s Rona estate which sold for approximately $60m and the Vaucluse waterfront mansion sold for an estimated $40m.
In Western Australia The Agency Group’s two realty outfits, The Agency and Sell Lease Property (SLP) also experienced strong results, reporting a combined gross commission income of $1.2 million.
The Agency (WA) reported 65 sales worth $33.2 million and SLP reported 61 sales worth $28.8 million.
The Agency holds approximately 4 percent of the total market share in Western Australia, hot on the heels of the market leader which holds an estimated 9 percent.
Commenting on the results, The Agency managing director Paul Niardone said:
This is an extremely pleasing result for the company when considering the Sydney and Melbourne property markets are now experiencing a steep decline.
“It is further evidence that our disruptive model attracts the best talent that can negotiate the best results for our clients in any market conditions and continues to outperform our peers who are finding it difficult to grow and recruit,” he said.
The Western Australian office is also set to receive a significant boost, attracting one of the State’s top real estate agents Michael Keil.
Keil has been consistently ranked inside the top 1% of WA real estate sales agents for turnover of sales.
“Michael is a trusted leader in the field and has acted as a coach and mentor to many of Perth’s top agents and I would like to welcome him to our ever-growing team,” Mr Niardone added.