LEADERSHIP and dogged determination are what the company say underpins a new Ray White achievement.
According to a recent study principals earned 76 per cent more than their Australian industry peers in 2018.
Ray White reviewed the 2018 financial year results for 269 of its own Australian businesses and then compared it The Australian Benchmark Report (Real Estate Agents 2018), produced by benchmarking.com.au Pty Ltd.
This study showed Ray White businesses running 20 per cent higher in revenue and staff numbers than the industry benchmark, with costs are significantly lower as a percentage of their revenue.
Ray White Group Head of Profit Luke Richardson said the depth of our franchisee’s leadership was a huge benefit to all members.
“Leadership is a recurring theme inside our business and we are relentless in our pursuit of leaders in all markets. We need strong leaders to run high performing teams across Australia, ensuring our agents are productive and rent rolls growing,” Mr Richardson said.
“Most of our businesses are running quite large operations very efficiently inside our brand. We offer a lot of support as after all, we are in the people business, not property.”
The benchmarking report shows that Ray White principals outperformed their peers by 76 per cent in terms of net profit per principal, before salaries and benefits.
Ray White’s total revenue per office was $1,999,466 vs benchmark $1,678,056, while Ray White offices’ full time staff was 13.9, compared to 11.2 as is the industry benchmark.
Ray White Group has a team of 12 specialist real estate accountants who support its network.