Australian RE/MAX agents top commission earned globally

Australia had the highest level of average commission per agent in 2022 throughout the 140,000-plus agents in the global RE/MAX network, and the second highest number of sales transactions globally in 2022.

Bringing the focus to the Australian scene, RE/MAX is in the top three real estate groups with the highest average agent commission, based on CoreLogic data.

RE/MAX Australia Managing Director Joel Davoren recently returned from the annual RE/MAX global convention in Las Vegas, which this year had the added feature of a 50-year anniversary celebration for a network that has grown to be one of the most recognised worldwide.

More than 60 regions from across the globe were represented by 9000-plus attendees.

“It was my first taste of a global real estate gathering in the post-Covid world and it felt like a bit of a pressure release,” Mr Davoren said.

“We’ve had knocks and challenges in the past couple of years, but it now feels like we are moving forward in a world sans Covid.”

He said everything did indeed feel quite normal to him from a pandemic perspective.

“There was barely any sign of masks or mention of Covid, but it’s hard to explain the feeling of being face-to-face with people from so many countries once again,” Mr Davoren said.

He said while some things felt normal, others didn’t.

“When you are standing shoulder-to -shoulder with some sales agents facing up to 80 per cent inflation in their countries right now, it really hits home how well off we are in Australia and puts our seven or eight per cent into perspective!”

One thing Mr Davoren noticed was that technological advancements had significantly picked up pace in many other countries, as well as a heightened level of professionalism, compared with the last time such a coming together of nations had occurred.

“Australia very much stood out as a leader in technology and professionalism in 2019 and 2020, and I feel that other regions have used the pandemic period to try and match our levels, which is both a very good thing for our industry worldwide and a compliment,” he said.

“That Australia had the highest average agent commission globally in the RE/MAX network for 2022 is phenomenal, but you have to think about why.

“I believe it is mostly due to the high degree of professionalism in Australia.”

Mr Davoren suggested other factors include higher property prices in Australia and the Australian dollar being closer than other countries to the US dollar.

He said the Global Referral Exchange on the R4 program as a veritable United Nations of real estate with one universal language: referrals.

“To see many hundreds of agents from around the world exchanging business cards, real and virtual, was exciting,” Mr Davoren said.

“It was a much-expanded event than previously, which brought even more opportunities for Australian agents to do business.”

Mr Davoren said there was a noticeable degree of conversation around immigration and Australia’s appeal.

“Our country is always popular but there was a lot of serious talk about more than just international travel; rather people relocating permanently,” he said.

Me Davoren referred to the Henley Global Citizens Report, which is jointly produced by international residence and citizenship by investment advisory firm, Henley & Partners, and wealth intelligence firm, New World Wealth.

Migration of high-net-worth individuals (with high-net-worth defined as more than US$1 million) had been a rising trend over the prior decade until it dipped in 2020 and 2021 due to the pandemic.

This year, the largest millionaire migration flows on record are predicted as affluent investors and their families prepare in earnest for a new post-Covid world; and the countries to entice them will be those with robust economies, low crime rates, competitive tax rates and attractive business opportunities.

Australia consistently attracts large numbers of high-net-worth individuals.

It’s estimated that more than 80,000 of them have moved here over the past 20 years. There are more high-net-worth people moving to Australia than to any other country except for the United Arab Emirates. In 2022, that equated to a net inflow of 3500 people.

“In speaking with agents from many countries, it was clear that they and their clients see Australia as having a first-class healthcare system; a developed economy that is especially strong in the financial services, healthcare and basic materials sectors; and a burgeoning tech sector,” Mr Davoren said.

“Australia has no inheritance taxes. We rated as one of the five safest countries in the world for 2021/2022 and have been one of the fastest growing markets worldwide over the past 20 years in terms of wealth growth and GDP growth.

“We are faring well compared with other countries and we are well placed for growth.”

Show More

News Room

If you have any news for the Real Estate industry - whether you are a professional or a supplier to the industry, please email us:

Promoted Content

If you have any news for the real estate industry - please email us: Promoted content is content that has been paid to be promoted. For more information on paid content please visit or click the 'house' icon below.