- Following record high exchanges during May, The Agency is opening new offices.
- The company’s expansion has targeted Mandurah, WA’s second largest city, where sales have been high
- The company has sold $402 million worth of properties this year and currently have over 4,000 under management
Following a string of success, real estate group The Agency is opening new offices. Across the nation, the company sold $402 million worth of properties during April and May.
The gross commission income for the year to date, from the end of May is $34.8 million. Western Australia had its strongest month during the 2019 financial year obtaining a gross commission income of $1.3 million.
al of 247 exchanges were achieved during May, which is a record for the company. WA had the most success securing 143 exchanges while over east secured 104.
The strength on the west coast led The Agency’s expansion to Mandurah, Western Australia’s second largest city. During the move, the company recruited one of the cities most experienced real estate agents. Five agents now make up the new Mandurah team, which the company says are tapping into “prestige regional areas”.
Managing Director at the Agency Group, Paul , said: the company’s success in Mandurah “is further proof The Agency’s business model attracts the best agents in Australia and continues to move from strength to strength.”
Nationally, the company have over 4,000 properties under management and have seen a slight increase in numbers between March and May. Additionally, The Agency has recruited 44 agents during 2019, bringing the national total to 280.
The Agency attribute its success to its “innovative non-franchise, high-commission model.” Niradone added, the company has “bucked the trend” of nationally subdued real estate markets.
The Chief Executive Officer of The Agency, said the company “remains relatively immune to the market downturn and overall price adjustments.” This follows the close of a $23.5 million and $13 million sale this year.