Industry-leading tool helping Ray White business owners maximise profit

Hiring, firing, client relations, professional development and mentoring, not to mention selling property if you’re still a selling principal.

How do you know when to hire a new agent? Where do you even start to begin doing the cost / benefit analysis?

Ray White’s Pulse is a unique benchmarking tool that gamifies agent statistics, tracking sales, listings, commission, auctions and other markers throughout the financial year. The original Pulse platform was custom built to create competition among Ray White agents, pushing them to be better and achieve more success.

The Pulse team then built a platform aggregating the financial performance of every office on the platform and used it to benchmark a business’ profit against their peers.

The system is widely used across Ray White’s network, covering hundreds of offices in Australia and New Zealand. With data-driven insights, it serves around 50 per cent of the Australian network, and 65 per cent of the New Zealand network, reflecting high adoption and reliance on its benchmarking capabilities.

Profit Pulse offers a suite of features, including revenue tracking, expense monitoring, benchmarking, forecasting, and historical performance analysis. Its integration with accounting software Xero simplifies financial management while providing deep insights into profitability trends.

The broader Ray White network benefits from real-time benchmarking at office, agent, and group levels. The system allows users to compare performance metrics across different parameters like geography, recognition, and business maturity, making it an essential tool for financial growth and operational efficiency.

Business owners are able to benchmark within their own team, allowing them to have a full view of their profitability, overheads and cost per agent.

Benchmarking at Ray White began in 2014 with a report covering 123 offices. Over the years, the dataset has grown significantly, reaching 439 offices by 2021. The introduction of real-time profit data in 2022 revolutionised insights, leading to the development of Profit Pulse as a standalone application.

Business leaders use Profit Pulse daily for monitoring financial health, tracking revenue and expenses, forecasting profitability, and receiving performance alerts. The tool reduces dependency on manual financial analysis, leading to timely data driven decision making.

Not only is this information effective for giving a forecast for the coming months but it allows businesses to be able to understand capacity for scale and growth, and whether substantial recruitment is within their five year prospects.

“Profit Pulse, in the most basic sense, helps me with decision making, on all levels,” said James Goldsworthy, business owner of Ray White Mooloolaba | Kawana.

“It helps me make strategic decisions like: do we invest more, do we need to cut back there?”

Additionally, the platform has allowed the business owners to make key decisions about expenses and investment. The platform allows them to oversee their employees’ output so they can decide whether certain investments will have significant impact, or if ROI will be wanting.

“It does make it easier when an agent comes to you asking to invest in their development,” James said.

“It gives you the data you need to be able to say ‘yes, I can do this for you’ or ‘no, the level of investment doesn’t match your current contribution to the business”.

In addition to simple insights into a business’ P&Ls, James said the ability to benchmark against Chairman’s Elite, high-performing businesses, or businesses of similar sizes to his, gave a great overview of where their profit sat in the scheme of things.

“It makes you think: are we where we want or need to be?” James said.