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Two of Australia’s leading real estate groups have placed in the top 100 of IBISWorld’s Top 500 Private Companies list.
According to research analyst IBISWorld, Ray White was ranked 61 at $714 million in gross commission while LJ Hooker was ranked 79 at $566 million.
Ranking revenues, the list includes public unlisted companies, partnerships, associations and private companies.
An LJ Hooker spokesperson said that when analysed, the IBISWorld data shows that LJ Hooker offices were on average performing 15 per cent higher than their competitors.
Both groups recorded an increase compared to the same figures last year, with LJ Hooker up by 3.2 per cent and Ray White up by 2.7 per cent.
“LJ Hooker strategically chooses offices in key growth locations to set them on a pathway of success with the brand. This month alone sees seven new offices open [in] NSW, VIC and SA,” the spokesperson said.
“We’ve had a strong 12 months, as attested by IBISWorld, and we are looking forward to working with our network to continue gaining market share.”
LJ Hooker was in the news recently when it revealed its pioneering Facebook strategy to point 70 million targeted ads at 6.5 million people during the "now on us" spring selling season.
The initiative is part of LJ Hooker’s $1 million integrated digital and social media platform, LJ Hooker Boost, developed by LJX-Lab, the group’s innovation center.
Chairman L. Janusz Hooker said at the time that the network is excited to be the pioneer in Australian real estate.
He said that in 2016 the LJX-Lab team had the foresight to identify that the next big thing in real estate was social, and started the development of LJ Hooker Boost.
“What the team have built is a game changer for our industry, dramatically improving customer service and satisfaction levels, agent productivity and ROI on marketing spend and the number of qualified buyers matched to properties for sale,” Mr Hooker said.
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