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- Real estate group The Agency has brought in a record monthly commission income over October
- The company sold $345 million worth of property around the country, to bring in $5.4 million in Gross Commission Income
- This makes up half the commission cash for the September quarter
- The Agency said a rebound in eastern property markets is the cause of the sudden jump
- Nevertheless, shares are untraded today, still worth 6.1 cents each since closing on Tuesday afternoon
Real estate company The Agency Group has recorded its highest-ever monthly commission income over October.
The record month saw The Agency cash in $5.4 million, which makes up half of total Gross Commission Income (GCI) for the company’s September Quarter.
The cash was brought in from record sales in both the company’s east and west coast operations.
Across its operations, The Agency sold a whopping $345 million worth of property in October alone, made up of $241 from the east and $104 million from The Agency WA.
The cherry on top of the strong month is the 30 per cent rise in listings and 35 per cent rise in settlements compared to September — coming in 445 listings and 303 settlements for October. Essentially, this means the company is primed to see more strong sales numbers in the coming months.
The Agency Managing Director Paul Niardone said a rebound of the Sydney and Melbourne property markets means the company is looking to quell competition.
“These record-breaking results for October further validate that our model is setting the benchmark in real estate nationally and further proof we have the best model, the best talent and best growth proposition,” Paul touted.
Company CEO Matt Lahood shared similar sentiments, saying the record month is a testament to the high quality of The Agency’s sales agents.
“The Agency Group has assembled a leadership team and attracted (and continues to attract) quality sales agents, which together are driving sustained growth across the business,” Matt said.
Despite the cash The Agency is bringing in, company shares have gone untraded since Tuesday, 12 November. Shares last traded for 6.1 cents each in an $18.10 million market cap.
