REB Top 50 Agents Victoria 2024 Recognizing Excellence in the Real Estate Industry
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The REB Top 50 Agents Victoria 2024 ranking and associated report have highlighted the achievements of the top real estate agents in the state. Despite facing numerous challenges, including the lingering impacts of the COVID-19 pandemic, these agents have propelled the real estate industry forward and set a benchmark for excellence that others can aspire to.
Challenges and Resilience in the Victorian Market
The Melbourne housing market, in particular, has faced some hurdles compared to other Australian capital cities. CoreLogic data reveals that home values in Melbourne grew by only 3.2% over the 12 months to March 31, 2024, compared to stronger growth in cities like Perth and Sydney. One contributing factor to this sluggish growth rate is the oversupply of housing, which has given buyers more choices and leverage to negotiate lower prices. In 2023, there were 81,203 dwelling sales and 90,000 new listings added to the market.
Additionally, the extended COVID-19 lockdowns in Melbourne, the longest in the world, and the associated restrictions on open homes and auctions have impacted the real estate market. Despite these challenges, Victoria’s top agents managed to sell 4,501 properties in 2023, slightly lower than the previous year’s 5,079 properties. However, the combined value of properties sold remained stable at $7.94 billion.
Performance of the Top Agents
The top 10 agents sold 1,242 properties for a total value of $2.47 billion in 2023, compared to 1,322 properties sold for $2.57 billion in 2022. The average number of properties sold by the top 50 agents declined from 102 in 2022 to 90 in 2023, while the average sales price increased by 32.4% to $2.3 million. The top 10 agents had an average sales price of just over $2 million, reflecting market trends with a modest 2.4% increase.
Top-ranking Agents in Victoria
Helen Yan, principal and director of Balwyn, claimed the top spot in Victoria, moving up three places from the previous year. Matthew Pillios, director of Kay & Burton, slipped to second place after being the top agent in the previous ranking. Carla Fetter, director of Jellis Craig Armadale, maintained her position at third place for the second consecutive year.
Methodology and Rankings
Agents included in the ranking submitted data from their settled residential sales in the 2023 calendar year. Their rankings were determined based on three metrics: the number of properties sold, the total dollar volume of properties sold, and the average sale value. Each agent was then compared to their peers across these metrics, and the combined comparative score determined their rank.
Recognizing Excellence in the Victorian Real Estate Market
The achievements of the agents listed in this year’s ranking demonstrate the excellence present in the Victorian real estate market. Despite the challenges faced, these agents have consistently delivered results and contributed to the growth of the industry. Congratulations to all the agents who made the REB Top 50 Agents Victoria 2024 ranking.
In the coming days, REB will release the Top 50 Agents 2024 ranking for NSW. Stay tuned for the upcoming rankings, including the Top 100 Agents and Top 50 Women in Real Estate 2024.
To view the complete REB Top 50 Agents Victoria 2024 ranking and report, visit the REB website.
