RateMyAgent review and ratings site have announced the criteria for their national, state and suburb awards for 2017 and are calling for agents and agencies who have claimed their profile to seek more customer reviews to be in the running.
National and state-based awards will be presented at the RateMyAgent Awards Night, held in Melbourne on 9 March, 2017 with the suburb winners also announced in March 2017.
The 2017 RateMyAgent Agent of the Year Awards will be calculated by overlaying the following three metrics:
- % of seller reviews received relative to the number of properties sold
- Total number of properties sold
- Total sales value of property sold
Who can enter?
All registered agents and agencies with a claimed profile are automatically entered into the Agent of the Year Awards. According to RateMyAgent’s data this means there are over 20,000 agents and 3500 agencies in the running to win – representing over 60% of active agents in the market.1
The 2017 awards will recognise the following:
- Agent of the Year – National level
- Agency of the Year – National level
- Agent of the Year – State level (all states and territories)
- Agency of the Year – State level (all states and territories)
- Agent of the Year – Suburb level
- Agency of the Year – Suburb level
Suburb Awards: For an agent or agency to qualify at suburb level they must have sold at least 5 properties and received a minimum of 5 reviews for properties sold in the suburb. Last year’s awards saw winners in 1,100 suburbs and this year RateMyAgent are expecting to hand out more.
About the Awards
Now in their third year, the RateMyAgent annual awards have grown in popularity within the industry year on year.
“The key to winning the title of Agent of the Year for your suburb, state, or even nationally, is to get reviews for all your 2016 sales. While sales value and the total number of recommendations are still key factors in determining the leading agents in the country, the number of recommendations an agent or agency has, relative to the number of properties sold, is key.” said RateMyAgent CEO and co-founder, Mark Armstrong.
“Each review an agent requests on RateMyAgent is linked to a property transaction. If an agent sells 100 houses, but only has 10 reviews then they only have a 10% success rate. But, if an agent sold 50 houses and had 40 recommendations, the success rate would be 80%,” says Armstrong.
“The best agents don’t necessarily sell the most property. The best agents get good feedback from their vendors, it’s as simple as that. Until the deadline falls on January 15th, this is anyone’s award to win.” says Armstrong
Agents have until 12pm midnight, 15 January, 2017, to request and receive reviews for sales made in 2016.
Reviews submitted after this date will not be valid for the awards criteria. Reviews submitted for properties sold in January 2017 will be excluded from this year’s awards. Only recommended reviews will be counted towards winning a title.
1. Active agents are defined as having sold a minimum of 3 properties in the last 12 months.