.bra-article{--bra-navy:#58585B;--bra-orange:#F26722;--bra-peach:#fff4ec;--bra-peach-line:#f6d3b8;--bra-text:#4d4d4f;--bra-line:#e4e4e6;--bra-soft:#f7f7f7;max-width:1100px;margin:0 auto;color:var(--bra-text);font-size:17px;line-height:1.7;}
.bra-article *{box-sizing:border-box;}
.bra-article p{margin:0 0 1.15em;color:var(--bra-text);}
.bra-article strong.bra-key{color:var(--bra-navy);font-weight:700;}
.bra-article a{color:var(--bra-orange);}
.bra-article .bra-label{font-size:12px;font-weight:700;letter-spacing:1.5px;text-transform:uppercase;color:var(--bra-orange);margin:0 0 8px;line-height:1.4;}
/* series bar */
.bra-article .bra-series{margin:0 0 28px;}
.bra-article .bra-series-top{display:flex;justify-content:space-between;gap:12px;font-size:12px;font-weight:700;letter-spacing:1.5px;text-transform:uppercase;color:#6d6d70;margin-bottom:8px;}
.bra-article .bra-series-top span:last-child{color:var(--bra-orange);}
.bra-article .bra-series-bar{display:flex;gap:5px;}
.bra-article .bra-series-bar i{flex:1;height:5px;border-radius:3px;background:#e0e0e2;}
.bra-article .bra-series-bar i.on{background:var(--bra-orange);}
.bra-article .bra-lead{font-size:20px;line-height:1.6;color:var(--bra-navy);font-weight:500;}
/* headings */
.bra-article h2{font-size:24px;line-height:1.3;color:var(--bra-navy);font-weight:700;margin:2em 0 .6em;padding-left:14px;border-left:4px solid var(--bra-orange);}
.bra-article .bra-h{font-size:24px;line-height:1.3;color:var(--bra-navy);font-weight:700;margin:0 0 20px;}
/* lists */
.bra-article ul.bra-list{margin:0 0 1.4em;padding-left:0;list-style:none;}
.bra-article ul.bra-list li{position:relative;padding-left:26px;margin-bottom:.55em;color:var(--bra-text);}
.bra-article ul.bra-list li:before{content:"";position:absolute;left:4px;top:.62em;width:9px;height:9px;background:var(--bra-orange);transform:rotate(45deg);}
/* 3 things */
.bra-article .bra-things{border:1px solid var(--bra-line);border-radius:6px;padding:26px 28px 10px;margin:2em 0;}
.bra-article .bra-thing{display:flex;gap:16px;margin:0 0 18px;}
.bra-article .bra-num{flex:0 0 32px;width:32px;height:32px;border-radius:50%;background:var(--bra-orange);color:#fff;font-weight:700;font-size:15px;line-height:32px;text-align:center;}
.bra-article .bra-thing-t{font-size:17px;font-weight:700;color:var(--bra-navy);line-height:1.35;margin-bottom:2px;}
.bra-article .bra-thing-b{font-size:15px;line-height:1.55;color:var(--bra-text);}
/* quote */
.bra-article .bra-quote{border-left:0;quotes:none;font-style:normal;background:var(--bra-navy);border-top:4px solid var(--bra-orange);border-radius:6px;padding:32px 36px;margin:2em 0 0;}
.bra-article .bra-quote:before,.bra-article .bra-quote:after{content:none;display:none;}
.bra-article .bra-quote p{margin:0;color:#fff;font-size:22px;line-height:1.45;font-weight:700;font-style:italic;}
.bra-article .bra-midcta{font-size:15px;margin:16px 0 2em;}
.bra-article .bra-midcta a{font-weight:700;text-decoration:none;}
/* centrepiece band */
.bra-article .bra-feature{background:var(--bra-soft);border:1px solid var(--bra-line);border-radius:8px;padding:30px 30px 26px;margin:2.2em 0;}
.bra-article .bra-cols{display:grid;grid-template-columns:1fr 1fr;gap:16px;}
.bra-article .bra-cols3{display:grid;grid-template-columns:repeat(3,1fr);gap:16px;}
.bra-article .bra-card{background:#fff;border:1px solid var(--bra-line);border-top:4px solid var(--bra-orange);border-radius:6px;padding:20px;}
.bra-article .bra-card.dark{background:var(--bra-navy);border-color:var(--bra-navy);border-top-color:var(--bra-orange);}
.bra-article .bra-card.light{background:#f2f2f3;border-color:#f2f2f3;border-top-color:#d0d0d3;}
.bra-article .bra-card.light .bra-label{color:#6d6d70;}
.bra-article .bra-card-h{font-size:19px;font-weight:700;color:var(--bra-navy);line-height:1.3;margin:0 0 10px;}
.bra-article .bra-card.dark .bra-card-h{color:#fff;}
.bra-article .bra-card-b{font-size:15px;line-height:1.55;color:var(--bra-text);margin:0;}
.bra-article .bra-card ul{list-style:none;margin:0;padding:0;}
.bra-article .bra-card li{position:relative;padding-left:20px;margin:0 0 8px;font-size:15px;line-height:1.5;color:var(--bra-text);}
.bra-article .bra-card.dark li{color:#ececee;}
.bra-article .bra-card li:before{content:"\25C6";position:absolute;left:0;top:0;font-size:11px;color:#a1a1a4;}
.bra-article .bra-card.dark li:before{color:var(--bra-orange);}
.bra-article .bra-checks{background:#fff;border:1px solid var(--bra-line);border-radius:6px;padding:22px 24px 10px;display:grid;grid-template-columns:1fr 1fr;gap:0 24px;list-style:none;margin:0;}
.bra-article .bra-checks li{position:relative;padding-left:34px;margin:0 0 14px;font-weight:600;color:var(--bra-navy);font-size:16px;line-height:1.45;}
.bra-article .bra-checks li:before{content:"\2713";position:absolute;left:0;top:0;width:22px;height:22px;line-height:22px;text-align:center;border-radius:4px;background:var(--bra-orange);color:#fff;font-size:13px;font-weight:700;}
/* callout */
.bra-article .bra-callout{background:var(--bra-peach);border:1px solid var(--bra-peach-line);border-radius:6px;padding:28px 32px;margin:2.2em 0;}
.bra-article .bra-question{font-size:21px;line-height:1.4;font-weight:700;color:var(--bra-navy);margin-bottom:14px;}
.bra-article .bra-callout p:last-child{margin-bottom:0;}
/* scorecard */
.bra-article .bra-table{width:100%;border-collapse:collapse;background:#fff;margin:6px 0 0;font-size:16px;}
.bra-article .bra-table th{background:var(--bra-navy);color:#fff;text-align:left;padding:12px 16px;font-size:13px;letter-spacing:.5px;text-transform:uppercase;}
.bra-article .bra-table th:first-child,.bra-article .bra-table td:first-child{width:52px;text-align:center;}
.bra-article .bra-table th:last-child,.bra-article .bra-table td:last-child{text-align:center;width:110px;}
.bra-article .bra-table td{padding:12px 16px;border-bottom:1px solid var(--bra-peach-line);color:var(--bra-navy);}
.bra-article .bra-table td:first-child{font-weight:700;color:var(--bra-orange);}
.bra-article .bra-table td:last-child{color:#a1a1a4;white-space:nowrap;}
/* CTA */
.bra-article .bra-cta{background:var(--bra-navy);border-radius:6px;padding:36px;margin:2.6em 0 1.6em;}
.bra-article .bra-cta p{color:#f1f1f2;margin:0 0 22px;font-size:17px;}
.bra-article .bra-cta strong{color:#fff;}
.bra-article .bra-btn{display:inline-block;background:var(--bra-orange);color:#fff !important;text-decoration:none !important;font-weight:700;font-size:16px;padding:14px 30px;border-radius:4px;transition:background .2s ease;}
.bra-article .bra-btn:hover{background:#A53C23;}
/* authors */
.bra-article .bra-authors{border-top:1px solid var(--bra-line);padding-top:26px;margin:2em 0 0;}
.bra-article .bra-people{display:grid;grid-template-columns:1fr 1fr;gap:20px;}
.bra-article .bra-person{display:flex;gap:16px;align-items:center;}
.bra-article .bra-person img{width:80px;height:80px;border-radius:50%;flex:0 0 80px;display:block;margin:0;}
.bra-article .bra-pname{font-size:17px;font-weight:700;color:var(--bra-navy);line-height:1.3;}
.bra-article .bra-ptitle{font-size:14px;font-weight:700;color:var(--bra-orange);line-height:1.45;margin-bottom:3px;}
.bra-article .bra-pline{font-size:14px;line-height:1.6;color:var(--bra-text);}
.bra-article .bra-pline a{text-decoration:none;}
/* next */
.bra-article .bra-next{display:flex;align-items:center;justify-content:space-between;gap:16px;background:var(--bra-navy);border-radius:6px;padding:20px 24px;margin:2em 0 0;text-decoration:none !important;}
.bra-article .bra-next-top{font-size:12px;font-weight:700;letter-spacing:1.5px;text-transform:uppercase;color:#FBB040;margin-bottom:4px;}
.bra-article .bra-next-t{font-size:18px;font-weight:700;color:#fff;line-height:1.4;}
.bra-article .bra-next-arrow{font-size:28px;color:var(--bra-orange);font-weight:700;}
@media (max-width:640px){
.bra-article{font-size:16px;}
.bra-article .bra-lead{font-size:18px;}
.bra-article h2,.bra-article .bra-h{font-size:21px;}
.bra-article .bra-quote,.bra-article .bra-callout,.bra-article .bra-cta,.bra-article .bra-feature,.bra-article .bra-things{padding:22px 20px;}
.bra-article .bra-quote p{font-size:19px;}
.bra-article .bra-question{font-size:19px;}
.bra-article .bra-cols,.bra-article .bra-cols3,.bra-article .bra-checks,.bra-article .bra-people{grid-template-columns:1fr;}
.bra-article .bra-series-top{font-size:11px;}
.bra-article .bra-table th,.bra-article .bra-table td{padding:10px 8px;}
.bra-article .bra-table th:first-child,.bra-article .bra-table td:first-child{width:36px;}
.bra-article .bra-table th:last-child,.bra-article .bra-table td:last-child{width:76px;}
.bra-article .bra-next-arrow{display:none;}
}
.bra-article .bra-grid{display:grid;grid-template-columns:1fr 1fr;gap:10px;}
.bra-article .bra-tile{display:flex;align-items:center;gap:12px;background:#fff;border:1px solid var(--bra-line);border-radius:6px;padding:12px 14px;font-size:15px;font-weight:600;color:var(--bra-navy);line-height:1.35;min-height:62px;}
.bra-article .bra-tile .bra-num{flex:0 0 28px;width:28px;height:28px;line-height:28px;font-size:13px;}
.bra-article .bra-note{font-size:15px;margin:14px 0 0;}
.bra-article .bra-dl{display:flex;gap:24px;align-items:center;background:#fff;border:1px solid var(--bra-line);border-top:4px solid var(--bra-orange);border-radius:8px;padding:24px 26px;margin:2.2em 0;}
.bra-article .bra-dl img{width:130px;height:auto;flex:0 0 130px;display:block;margin:0;}
.bra-article .bra-dl-t{font-size:21px;font-weight:700;color:var(--bra-navy);line-height:1.3;margin:0 0 6px;}
.bra-article .bra-dl p{font-size:15px;margin:0 0 16px;}
.bra-article .bra-btn-navy{display:inline-block;background:var(--bra-navy);color:#fff !important;text-decoration:none !important;font-weight:700;font-size:15px;padding:12px 24px;border-radius:4px;}
.bra-article .bra-btn-navy:hover{background:#3f3f42;}
.bra-article .bra-btns{display:flex;flex-wrap:wrap;gap:12px;}
.bra-article .bra-btn-ghost{display:inline-block;border:2px solid #fff;color:#fff !important;text-decoration:none !important;font-weight:700;font-size:16px;padding:12px 26px;border-radius:4px;}
.bra-article .bra-section p{margin-bottom:1.6em;}
@media (max-width:640px){
.bra-article .bra-grid{grid-template-columns:1fr;}
.bra-article .bra-dl{flex-direction:column;align-items:flex-start;padding:22px 20px;}
.bra-article .bra-dl img{width:120px;flex-basis:auto;}
}
Real Estate Advisory seriesPart 4 of 4
Most agency owners know how to track revenue. Fewer know how to measure the numbers that have the biggest influence on long term business value.
We have worked with agencies that generate similar levels of GCI but end up with very different outcomes. The difference is usually a handful of practical metrics that owners monitor consistently and act on over time.
3 numbers to know this week
1
Your breakeven point
How much GCI do you need to cover your fixed costs if the market slows?
2
Your top agent dependency
What happens if your top agent leaves tomorrow? Check revenue from your top one and top five agents.
3
How you compare
Are admin costs, agent remuneration, rent and technology in line with similar agencies?
“Consistency creates confidence. Confidence creates value.”
Want to see how your numbers stack up? Start a conversation →
Enterprise value scorecard
The 10 drivers of agency value
1
Consistent profitability
2
Consistent dividends and shareholder returns
3
Breakeven management
4
Fixed versus variable cost management
5
Industry benchmarking
6
Market share growth
7
Agent diversification
8
Revenue diversification
9
Leadership and succession depth
10
Financial reporting and governance
Rate each area from 1 to 10 at your next owner or board meeting, and focus first on the lowest scores. Download the full scorecard below to rate your own agency.
Free download
Enterprise Value Scorecard
Rate your agency against the 10 drivers of long term value, with a guide to each driver and where to focus first.
Download the scorecard ↓Profitability matters, but consistency matters more
Most buyers are not looking for one exceptional year. They are looking for evidence that the business can produce reliable results year after year.
Fixed costs can quietly reduce flexibility
High fixed costs are easy to take on in a strong market and much harder to carry when revenue drops. A business with a more flexible cost base can adjust more quickly, which reduces risk and supports value.
Diversification reduces risk
If one agent, or a few, generate most of the income, the business may be profitable but still carry significant risk. Depth in your team and income streams such as property management or finance services help smooth earnings.
Good reporting supports better decisions
High value agencies do not wait until year end to find out what happened. The point is not reporting for the sake of reporting. The point is better decisions.
Value is built through discipline
Revenue will always matter, but it is the quality and sustainability of that revenue that ultimately drives value.
Enterprise value is not created overnight. It is built through steady improvements across profit, cashflow, cost control, people, systems and reporting.
Bentleys works with real estate agency owners throughout New Zealand to improve profitability, benchmark performance, manage risk and build long term value. If you would like to understand how your agency compares, we would welcome a confidential discussion.
About the authors
Nick den Heijer
Director, Real Estate Advisory
Bentleys Chartered Accountants