Real-estate disruptor The Agency (ASX:AU1) continues a strong run of form, finishing as the top ranked agency for sales in Western Australia and achieving six sales above $10 million from east coast operations, defying a cooling property market.
The independent rankings provided by the Real-Estate Institute of Western Australia (REIWA) place the Agency’s wholly-owned company Sell Lease Property as the number one agency based off the organisation’s 53 sales, worth $24,314,750 for May 2018.
The Agency – which also operates as an independent brand – also finished as the second ranked agency in Western Australia, with the group boasting 52 property sales with a hefty valuation of $32,050,000.
SLP and The Agency ranked fifth in the combined tables for value of sales and fourth for overall number of sales.
The Agency managing director Paul Niardone said: “SLP and The Agency taking first and second ranking for Top Office in May is testament to the hard work of all our employees and further validates The Agency’s acquisition of SLP in March this year.
Our sales agents are ranked among the best in the state, and we continue to outperform our peers, which only bodes well for the future as we continue to roll out our innovative disruptive model.”
The Agency is disrupting the traditional model by focusing on the agent rather than the traditional franchise brand. The organisation offers considerably higher revenue splits for agents, incentivising sales, while also resourcing the agents with cross-selling solutions, such as settlement services mortgage and financial assistance and insurance.
The model promotes the agent’s record and independent brand, rather than focussing on the traditional franchise.
The model continues to also have success in Australia’s prime real-estate markets based on the east coast. The Agency East Coast has achieved 16 sales above $5 million, and six sales above $10 million, since January 2018.
The Agency East Coast’s auction clearance rate for New South Wales, Victoria and Queensland currently sits at 80 percent – 27 percent higher than the industry average.
12 new recruits were added to the East Coast team in the last six weeks.