Real estate disrupter The Agency Group has reported $5.3 million revenue for the September quarter despite traditionally lower sales during the winter quarter and a subdued market in 2018.
The Agency real estate sales posted gross commission income of $1.9 million while SLP posted $2 million totalling $3.9 million of commission income for the September Quarter. This was slightly lower than the previous quarter in line with a drop in transaction sales for the state.
The Agency Property Management reported quarterly income of $0.3million, with the rent roll now increased to 603 managements.
Mortgage and Financial Solutions Australia posted over $47 million in loan lodgements and revenue of $0.7 million for the quarter.
Landmark Settlement recorded 260 settlements for the quarter, bringing in just over $0.25 million.
In its second full quarter since acquisition in March 2018, Sell Lease Property delivered robust results of 173 properties settled and 180 listings.
During the quarter, The Agency exercised its option to acquire high-growth east coast real estate firm Top Level Real Estate – operating as The Agency East Coast – and is now proceeding to completion of the acquisition.
The Company is seeking shareholder approval to the acquisition and other resolutions associated to the transaction at an Extraordinary General Meeting to be held at 10am on 15 November at 68 Milligan Street, Perth.
The Agency was awarded Top Office for Listings Sold and Top Office by Value Sold in Western Australia for 2018 at the annual REIWA.com Awards in September.
The Agency continues to top the REIWA monthly rankings recently taking out top office for listings sold and for value sold for September 2018.