REAL ESTATE BUSINESS
As Australia’s love affair with property continues, we are absolutely thrilled to reveal the REB Top 50 Sales Offices 2023 ranking.
The ranking recognises the hard work, dedication, and achievements of sales offices across Australia that were able to capitalise on a booming property market in the 2021–22 financial year and go above and beyond in their local markets to help clients buy and sell their homes.
Now in its 11th year, the annual REB Top 50 Sales Offices ranking sets the national benchmark in identifying Australia’s top-performing real estate sales teams who raised the bar of excellence.
A number of measures are used to determine the rankings, including sales volumes and efficiency levels.
Sign up to view the ranking.
31.08
AVERAGE EFFICIENCY RATE
The efficiency rate is calculated by dividing the total number of settlements by the number of sales-focused staff, including sales support. This increased from 29.99 in the 2022 rankings to 31.08 in 2023.
However, this figure decreased among the top 10 offices from 39.93 in 2021 to 32.
2022 VS 2023
THE NUMBERS
DON’T LIE
$563.8 MILLION
AVERAGE VALUE OF SALES - TOP 50 SALES OFFICES
Property boom brings prosperity
Momentum Intelligence (the research arm of REB’s parent company Momentum Media) determined the rankings of the Top 50 Sales Offices across Australia in 2022 by using three measures: total value of settlements, total number of settlements, and an efficiency rate (which is the total number of settlements divided by number of sales-focused staff including sales support).
The ranking in each measure is then compiled with equal weighting to determine the final ranking of each office.
In short, the offices that listed and sold the highest number of properties in the most efficient way ranked the highest.
The REB Top 50 Sales Offices 2023 rankings reveals a different scenario compared to previous years’ rankings. However, once again, the data has illustrated the business prowess, determination, resilience, and hard work of real estate agents and sales teams across the country.
After overcoming the challenges of the coronavirus pandemic, agents were able to make hay while the sun shone as capital city house prices grew by 22 per cent over 2021 in inflation-adjusted terms as buyer demand surged. These factors contributed to a rise in settlement numbers and volumes and a reduction in days on market.
The average value of settlements increased by more than 38 per cent in 2021–22 across the top 50 sales offices compared to the previous year from around $409.2 million to $563,842,026. This is a 114 per cent increase from $263 million in 2020.
Among the top 10 sales offices in the rankings, the average total value of settlements rose 80 per cent from over $473.0 million to $851.3 million.
Five agencies recorded total settlement values of over $1 billion in the 2023 rankings, up from three in the previous year.
595
AVERAGE NUMBER OF SETTLEMENTS - TOP 50 SALES OFFICES
Increased buyer demand is well reflected in the average number of settlements, which jumped by almost 100 compared to the previous year’s rankings. Indeed, they surged across the top 50 sales offices from around 499 settlements in 2021 to 595 settlements in 2022.
Similarly, settlements among the top 10 agents skyrocketed by almost 42.0 per cent from 739 settlements in the previous year’s rankings to 1,047 settlements in the 2021–22 financial year.
33
AVERAGE DAYS ON MARKET - TOP 50 SALES OFFICES
Despite the steep rise in house prices in the 2021–22 financial year, buyer demand showed no signs of abating (before interest rates started to climb). This was reflected in the average number of days on market measure in the REB Top 50 Sales Offices rankings. The top 50 sales offices took an average of only 33 days to sell a property in 2022, down from 39 days in 2021. Among the top 10 sales offices, average days on market fell from 43 days in 2021 to 39 days in 2022.
$1,089,904
AVERAGE SALES PRICE - TOP 50 SALES OFFICES
The rise of the average total value and number of settlements is unsurprising as we have been inundated with news about the booming property market, and the REB Top 50 Sales Offices 2023 data has mirrored these trends.
Among the top 50 sales offices, the average sales price rose to $1,089,904 across Australia in 2022, up 15.6 per cent from $819,573 in the previous year. Among the top 10 offices, the average sales price rose by over 46.0 per cent from $640,338 in the previous year to $937,137 in the 2021–22 financial year.
16.68
AVERAGE NUMBER OF SALES AGENTS - TOP 50 SALES OFFICES
The figures also revealed an increase in the average number of sales agents, suggesting that agencies have been focusing on recruiting top talent and bolstering their team size despite a challenging employment market riddled with labour shortages.
The average number of sales agents among the top 50 offices rose from 14 the previous year to 16.68 in 2021–22. The top 10 offices recorded a more significant increase from 20 sales agents to 33.3 in this year’s rankings.
The average number of support staff grew from five to over seven among the top 50 offices, while the top 10 offices doubled their support staff headcount from an average of four in the previous year to 8.2 in 2021–22.
TOP 50 SALES OFFICES 2023
| Rank | Office | State | Sales agents | Sales support staff | Average days on market | Average sales price | Number of settlements | Total value of settlements | Efficiency rate |
|---|
Looking for a media kit?
Disclaimer: Real Estate Business has undertaken a process to ensure the accuracy of data used to formulate the Top 50 Sales Offices 2023 ranking. Data for the ranking was supplied by individual agents, offices and/or head offices. While Real Estate Business has made every attempt to validate the accuracy of the data, any errors or omissions are the ultimate responsibility of the company or individual that supplied the data and any associated information. To the full extent allowed by law, or the ranking participants, its publisher Momentum Media and Momentum Media employees excludes any liability for any loss or damage sustained by readers arising from the supply, use, or promotion of the Top 50 Sales Offices 2023 ranking.
Copyright: Content on this website, including material in downloadable files, is protected by copyright. Copyright of the content provided on this website is owned by Momentum Markets Pty Ltd (“Momentum”). Where copyright is vested in any third party, including data and images , permissions have be granted to Momentum to reproduce such work. You must not reproduce or communicate any of the content on this website in any way whatsoever, including files downloadable from this website, without the permission of Momentum.