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WHITE PAPER – JULY 2019

By Debra Church

Here is the latest update from Brian White regarding the Ray White performance July 2019.

What a financial year that was!  We started it with a fair degree of concern, being pounded by headlines predicting we would have a shocker. It would have been easy for us to lose our nerve and find excuses, just when our customers needed us to work hard and provide a cool head and offer thoughtful advice.

But by any metric it was a great year for the company.  Sure, we traded less real estate, but we did nearly $41 billlion in sales, down only seven per cent on the prior year.  The number of members who reached Elite and Chairman’s Elite sales was 279 in total, down only by six members overall and still very impressive. Our NPS was up strongly at 81 and property management figures were higher too.  Our market share has never been stronger, growing to 11.55 per cent.

This has been our greatest continued group market share growth since the GFC. Standouts at zone level were Western Australia (+1.9%), New Zealand (+1.2%) and NSW Blue (0.8%).

These results were testament to the resilience and perseverance our our members.  We could not have been prouder with the effort of our members to deliver for our customers in these more difficult markets.   We now wipe the slate clean for the new financial year! Success isn’t guaranteed from our past scorecards. It doesn’t give us the right to make fewer phone calls, or do less for our customers. All we have is earned is the right to go again.

In July 2019, we recorded $3.35 billion in total unconditional sales for our network which included $835 million for our NSW network, and $809 million in New Zealand too. Most importantly, this is the first time since May 2018 that we have written more sales commission that in the corresponding month in the prior year!

Increased buyer demand is reflected in the results of our 1331 auction campaigns have been richly rewarded particularly in many parts of Sydney, Melbourne and south-east Queensland from the reports emerging of competitive bidding and big results over reserves.

Registered bidders was higher at 3.4 people per property, compared to 3.1 in June. But the big news story is in the clearance rate. Melbourne agents cleared 71.3 per cent in July, up from 62 per cent in June, while in Sydney a whopping 72 per cent sold under the hammer, compared to 59 per cent in the prior month.  Listing numbers though continue to remain stubborn.  In the larger markets ofSydney and Melbourne, listings are down nearly 10% on last year.  Queensland, SA and WA are more consistent with the proper year.

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