White Report – February 2018
The entire network has just recorded it’s second best February ever with more than $3.3 billion in unconditional sales across Australia and New Zealand.
I must say our Victorian network continues to be a standout market where we have now entrenched ourself now as the agency of choice by more buyers and sellers than ever before. We are firmly the number one agency in Victoria now.
So what is happening in the market? We feel like 2018 has kicked off on a very stable tone.
There is no doubt in my mind that the market is now more balanced across Australia and New Zealand and in the absence of a catalyst to stimulate the market —– such as lowering mortgage rates or loosening credit policies —– we expect conditions to remain on an even keel or perhaps even soften further.
It is now a buyers’ market and while we are seeing increased depth of buyer demand across our networks, it is fair to say there’s less urgency or heat in the market now.
It’s also so pleasing to see that we are receiving more positive feedback from our customers than ever before as our focus on customer service remains our highest priority. Our customer satisfaction program gains strength every month. Our group’s Net Promoter Score is 84 with a response rate of 26 per cent with a total of 2025 responses.
In the last month we welcomed a large number of new business owners across the group.
Two leading Melbourne agents Phillip Mercieca and Malek Younan have just joined forces to open a business in Gladstone Park together. The duo have a combined 30 years real estate experience between them and we know they’ll continue to do great things in Melbourne’s north west.
In Geelong, Glenn and Kylie Hardman have opened their new office in their hometown that is well known for its lifestyle which is hard to beat.
And up on the Sunshine Coast, Ray White Sippy Downs owner Michael Stack has expanded his business to now include Nambour. Michael is looking to grow the Nambour marketplace with third-generation local agent Peter Chant.
In Woody Point, it was great to welcome the Misso family to our network too. The Missos have a proud history serving the Redcliffe Peninsula in Queensland for more than three generations since 1956.
There is no better compliment than can be paid to us that to have such high calibre agents want to join us.
A strong month for our brokers at Loan Market who had a busy month too while the central bank stayed its hand again at its latest last board meeting. Chief operating officer at Loan Market, Stephen Scahill said the Loan Market New Zealand team was up 45 per cent on budget in February. There’s been a progressive rollout of MyCRM with 50 additional franchisees migrating to the platform in the month. In February, applications were $1.111 billion, approvals $610 million and settlements $657 million.
The corporate teams from across Australia, New Zealand and Indonesia have all just returned from our annual Crows Nest strategy conference which was actually held this year in Toowoomba and at the original shed where Ray White first began operating in 1902. A highlight of the four-day meeting was the awards evening at The Shed. It was truly special, the birthplace of Ray White back in 1902.
Stephen Dullens of the Victorian and Tasmanian corporate team received the White Chairman’s Cup. And Kristy Bartlett of Loan Market, based in Melbourne, won the White Family Trophy for 2018.
The events team are now working full steam on the Connect 2018 schedule which it is shaping up to be our best one yet.
We truly believe that if you want to go fast, then go alone. But if you want to go far, then go together.
The power of this network lies in its collective strength.
Ray White Group Director Dan White