In an industry built on optimism and driven by results, real estate has long traded on the appeal of the fast start and meteoric rise.
But new research from Jordan Tormey, Strategy Analyst at the Ray White Group, paints a more grounded and arguably more sustainable picture of what long-term success in real estate actually looks like.
Drawing on over a decade of agent activity data from Australia’s major property portals, Jordan analysed more than 35,000 actively listing agents to understand who is succeeding and how long it takes them to get there.
The findings were unambiguous: the agents who dominate the market are the ones who’ve stuck with it.
The top 20 per cent of agents, those responsible for over 60 per cent of all listings nationally in 2024, had a median tenure of ten years in the industry.
These are not overnight success stories. They are professionals who have spent a decade or more steadily building their businesses, their brands and their client bases.
“All the people in that top 20 per cent are at that 10-year median of tenure,” Jordan says.
“And as you move down the quantiles, it actually starts at a lower base… So there’s a natural progression there.”
That progression is surprisingly consistent. Agents in the third and fourth quintiles—those in the middle of the market—typically had six to seven years of experience.
Even the bottom tier of performers often had three to five years behind them.
“The thing that I took away from it is how consistent that growth kind of is,” he says.
“When you break it up into those groups, it is a balanced progression through. Especially people new to the industry… sticking it out does matter. As your experience grows, the likelihood of you moving into those upper tiers increases.”
Unlike more traditional careers that require formal study and rigid corporate ladders, real estate offers something unusual: a direct path to running your own business from day one.
But that freedom is a double-edged sword. Success is not handed out with the certificate of registration.
It has to be built from scratch, often over many years of trial, error and persistence.
“It’s not something where today I’m going to go become a top 1% agent,” he says.
“It takes time to cultivate your database, create those relationships, learn the industry, and grow with it.”
Jordan also describes real estate as a unique entrepreneurial ecosystem.
“Real estate really is a perfect demonstration of having multiple entrepreneurs working within the same business,” he explains.
“And it takes time to build your business over time.”
While it’s not uncommon to hear stories of agents who’ve made an impact early in their careers, Jordan stresses that these cases are not typical.
“I’m not saying it’s not possible,” he says.
“Because we’ve all seen stories where it is very possible… but like any industry, it takes time to learn the industry, create those relationships and grow with it.”
Jordan’s research focused on listings volume rather than gross commission income, allowing for a fair comparison across markets with vastly different price points.
“Obviously with Australian commission, someone doing one sale in Sydney could be equal to someone doing ten sales in somewhere like the Northern Territory,” he says.
“So I just wanted to do it based on volume to keep it fair.”
That choice also reflects a focus on sustained transactional activity rather than individual high-value deals.
The results reveal a picture of the industry that is grounded, resilient, and cumulative.
Top agents aren’t necessarily those who’ve had the biggest month, but those who’ve performed consistently over many years.
The study also explored regional differences. While national trends largely held true across all states, certain outliers emerged.
“What you may have in places like the Northern Territory or South Australia… are a lot of people that are maybe part-time,” Jordan says.
“Not necessarily that they aren’t good, but they’re preferring to do part-time real estate as opposed to full-time.”
These part-time agents were more prevalent in the lower performance brackets.
However, in major eastern states, New South Wales, Victoria, Queensland, the correlation between time and performance remained stable.
He believes these insights could have practical implications for how real estate businesses train, recruit and support new agents.
He is currently working on a follow-up analysis to determine how long it takes the average agent to become profitable under the current market conditions and award structure.
The profitability benchmark used by Ray White is $100,000 in annual GCI.
Understanding that profitability doesn’t come instantly could help set more realistic expectations for new entrants and principals alike.
What Jordan’s research reveals, in essence, is a professional path that closely mirrors the structure of a small business.
Entry may be easy, but long-term success requires the same ingredients: time, systems, referrals, reputation, and resilience.
This insight stands in contrast to broader workforce trends.
According to Keevee’s 2025 career change report, 50 per cent of workers are considering a career change this year, and 35 per cent of professionals have changed careers at least once.
The average job tenure is shrinking too, with most workers spending just four years in one role.
Against this backdrop, real estate stands out as a profession where longevity pays, and where those who stay the course build not just a job, but an enterprise.
“When you look at the people in the top tier, they have been there for a long time,” he says.
“There’s going to be people in that line who’ve been there 30 years, and there’s going to be people in that line who’ve been there one year. But it shows that as your experience grows, so does your likelihood of being in the top group.”
For real estate agents still in their early years, or sitting somewhere in the middle, the takeaway is both simple and strategic: time in the market matters.
The data doesn’t discredit fast starters; but it does clearly favour those who stay.
“You’re not going to jump in, in your first couple of years, and make it to the top,” he says.
“But if you treat it like a business, and stick with it, the data says you’re likely to rise.”
