Live Real Estate Accounts founders, Chris Mercer and Aaron David wanted to share with their founding members their data release, known as REAP20 profit index of the December 2021 period and were thrilled with the attendance of those members to the inaugural Profit Symposium, held at La Botanique in Sydney.

The results have proven a winner with their clients who have taken advantage of the benefits the product provides.

REAP (Real Estate Agency Profitability) Dashboard was launched last year and it brings together all financial, payroll, property management and sales data into one platform so businesses can see how they’re performing as well as see how they compare to other agencies.

Mr Mercer said it was great to see the reaction from the members to the REAP20 results as it highlights the power of comparing group outcomes versus their individual performance.

Mr David said the media and industry have an ongoing obsession with top line numbers, auction results and clearance rates, but not on profit, which is overlooked in its importance to maintaining a sustainable business.

REAP is a world-first concept and works with existing systems that will pull data from all existing platforms. It combines all data sets, produces graphs and charts to provide a visual of business performance with the outcome providing crucial information in making future business decisions. The dashboard itself shows turnover as well as profit and analyses which aspects of your business are performing efficiently and those that need improving.

LJ Hooker franchise owner, Mr Gordon Spring said they found REAP was a way of benchmarking against leaders in the industry.

“REAP allows you to find inefficiencies in your business which you can address.”

McGrath’s Warren Campion said they looked at benchmarking elements to help them do better. We recommend people looking at the numbers and getting feedback from the REAP founders to get insights which will help in future plans.

“The platform also helped us transition to a digitised format which has reduced costs and made us globally competitive.”