Agent of the Year Awards – Your guide on how to win in 2024:
How to win – Sales
How to win – Property Management
How to win – Rising Star
How to win – Agency Network
How to win – New Zealand
How to win – Mortgage Brokers
If you’re a real estate professional looking to take your career to the next level, winning an Agent of the Year Award from RateMyAgent can be a game changer. These prestigious awards recognise and reward the industry’s top performers who consistently provide exceptional client service.
With each passing year, the competition gets bigger and better, with new categories added to the mix. In fact, 2024 promises to be an even bigger year across Australia, New Zealand, and the USA.
So, if you’re ready to step up your game and be recognised as one of the best in the business, read on for our expert tips on how to win an Agent of the Year Award for 2024.
Real estate sales agents and agencies: how to enter and how to win
Once again this year, Agent of the Year Awards are awarded to Australian real estate agents at four levels: Suburb, City, State/Territory, and National.
The same applies to real estate agencies.
“To put yourself and your agency in contention for a 2024 award, you’ll need to collect reviews for properties sold throughout the 2023 calendar year.”
To be eligible for any of the awards, you need to meet two criteria. Firstly, you must have completed at least five sales during the 2023 calendar year. Secondly, you must have received at least five seller reviews for properties you’ve sold in a specific location. It’s important to note that only the lead agent’s sales and reviews count towards their tally. For example, if an agent sold five properties in a suburb but only received four seller reviews, they wouldn’t qualify for an award.
One helpful way to monitor your progress is by aiming for a high Review/Sales Ratio (formerly known as the RMA Score). This metric represents the percentage of positive vendor reviews compared to the total number of sales. You can easily view your Review/Sales Ratio on the Awards Leaderboard in your RateMyAgent dashboard.
It’s worth mentioning that the Review/Sales Ratio is simply a rebranding of the previous RMA Score. The metrics used to calculate the ratio remain the same.
“Remember – winning is NOT just a question of sales volumes.”
Remember – winning is NOT just a question of sales volumes. If you sell 10 properties and receive 8 positive vendor reviews, your Review/Sales Ratio will be 80% … but if you sell 20 properties and receive 12 positive vendor reviews, your Review/Sales Ratio will be just 60%. And the Review/Sales Ratio is one of the main determinants of winning in 2024.
Read more: 6 things to know about your Review/Sales Ratio (formerly RMA Score)
There are some extra criteria for Rising Star and Agency Network awards.
Rising Star Award:
If you’re aiming to be named a Rising Star in 2024, you’ll need to meet a few requirements. Firstly, you must have started your real estate career on or after January 1, 2021. Additionally, you must have listed and sold your first property within the past three years, and have at least five sales and five seller reviews posted during the 2023 calendar year.
Meeting these criteria automatically qualifies you for consideration for the Rising Star Award.
If you are deemed eligible and selected as a Rising Star winner, your performance will be calculated in the same way as for Agent and Agency sales awards.
Agency Network and Independent Agency Awards:
The Network Awards are based as follows: Small Network for agencies with 20 offices or less, Medium Network Award for agencies between 21 and 100 offices, and the Large Network Award available for agencies who have above 100 offices. There’s one National award for each Agency Network category and one National award for the Independent agency. Awards are calculated in the same way as Agent and Agency sales awards.
What about unverified reviews?
Back in May 2018, RateMyAgent released 2 new ways to get reviews on your profile. One of the new ways to get reviews – posting existing reviews – will only count towards Agent of the Year Award calculations if the review becomes verified by the vendor.
Read more about Verified Reviews here.
Property Management agencies
To win, you need to collect reviews from every landlord whose property is under your agency’s management. Awards will be calculated based on the current unique rent roll and the number of landlord reviews received in 2023.
It’s worth noting that landlords can provide one review per property per year. As your relationship with landlords is ongoing, they have the ability to rate your service for each property they own on an annual basis. For more information, please refer to our official Awards FAQ.
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New Zealand Agent of the Year Awards
With RateMyAgent’s recent expansion to New Zealand in 2019, we expanded the Agent of the Year Awards to recognise and reward the very best Kiwi real estate agents and agencies from both North and South Islands.
The New Zealand Agent of the Year awards calculations will be the same as the sales awards, extended to suburb level, and awarded to an exclusive category to New Zealand – Regions. Remember to request a vendor review for every property you sell.
Mortgage Broker of the Year Awards
Back in 2020 we launched RateMyAgent Mortgage Broker Reviews and expanded the Agent of the Year Awards to recognise the best Mortgage Brokers across Australia.
The awards include recognition for the national top 20 Mortgage Brokers and a State top 5, making it essential to start collecting as many recommended reviews as possible if you’re hoping to win the 2024 awards. To do so, start sending those review requests now!
In a nutshell …
What are the benefits?
Winning the Agent of the Year, Agency of the Year, or Property Management Agency of the Year Award is a huge accomplishment! The reason being, each review comes from a legitimate vendor or landlord and is directly linked to a specific transaction or property, making your award a credible and objective indicator of your exceptional client service professionalism.
But it doesn’t stop there! As the proud winner of this prestigious award, you’ll receive your very own logo to showcase your accomplishment and promote your services for an entire year. So make sure to use it to your advantage in all your traditional and digital marketing materials to maximize its impact! This is an excellent opportunity to impress potential clients and let them know that you are the best in the business.
What’s the deadline?
All reviews for sales (Australia and New Zealand), property management (Australia), and Mortgage Brokers (Australia) must be collected by 11:59 pm on 3rd January 2024 (AEDT). Any reviews received after this date will not be eligible for 2024 calculations. (Rather, it will count towards 2025 Awards)
Further detail can be found in our official Awards FAQ.
Having problems?
Contact us at support@ratemyagent.com
