Stepping into the real estate realm, I couldn't help but notice the prevailing scepticism towards Real Estate Agents. Coming from the construction industry, my partner and I had our fair share of experiences with agents that weren't always stellar, especially during our home renovations and townhouse development ventures. Determined to break the cycle, I delved into the roots of this mistrust to understand why people often feel uneasy about real estate agents.

The relationship between individuals and real estate agents is quite intricate, filled with a mix of emotions ranging from scepticism to outright disdain. While not everyone shares negative sentiments, there is a general perception that has fostered widespread distrust in real estate agents. Below I explore some of the key reasons behind the frustration and scepticism that often accompanies dealings with real estate professionals and processes I have put in place to dispel concerns for my clients.

It is important to note that for both the buyer and seller this is often the largest financial transaction they’ll make in their lives, and many agents fail to understand this when they juggle multiple listings. As an Agent It is important to never lose sight of the client perspective.

The Mystery of Transparency:

One significant reason behind the mistrust is the perception of a lack of transparency. Many people feel that real estate agents may not always offer honest and open information, particularly when it comes to property valuations, potential issues with a property, or the motivations of the seller.

At People Estate Agents we ensure that we Implement clear and open communication strategies from the very beginning. We provide clients with detailed information about property valuations and potential issues. We sharemarket data and comparable sales to justify valuations. We also use systems to offer real-time updates on property transactions, fostering a sense of transparency and trust.

Commission Conundrum:

The age-old issue of commission-based transactions is a source of contention. Some individuals believe that the commission fees charged by real estate agents aredis proportionately high, raising concerns about the financial motivations that might influence their advice and actions.

At People Estate Agents we explain the breakdown of commission fees and demonstrate the value-added services we can provide. We commit to earning the client's trust through transparent discussions about fees and aligning financial interests with successful outcomes.

Navigating Sales Pressure:

Complaints about aggressive sales tactics have contributed to negative perceptions.There's a sentiment that some agents prioritise closing a deal over addressing the genuine needs and concerns of the buyer or seller, creating an uncomfortable and sometimes coercive experience. Adding to this, the push towards selling via auction in Brisbane has raised questions about whether it truly benefits the seller or if it's more advantageous for the agent's agenda.(We are brief just touching on this topic, stay tuned for up-and-coming editions where we look at Auctions…What happens to the leftover buyers, and what happens to the 50% of properties on average that don’t sell at Auction?).

At People Estate Agents we adopt a consultative approach,understanding the client's needs and concerns before proposing solutions. We avoid aggressive sales tactics and prioritise educating clients on market trends and property values. We offer a variety of sales options, promotion non-action methods in most instances, allowing clients to investigate and select the best approach that aligns with their goals. We have an emphasis on a client-centric approach over a transaction-centric one.

Communication Woes:

Inconsistent Communication is another common grievance, with individuals feeling that real estate agents may not always respond promptly to enquiries or provide timely updates on the progress of a property transaction, leaving them in the dark.

At People Estate Agents we ensure that we establish clear communication protocols from the outset, outlining response times and preferred channels of communication. We regularly update clients on the progress of their property transactions, even if there are no significant changes, to maintain an open line of communication.

Ethical Crossroads:

Ethical concerns, including conflicts of interest and undisclosed relationships,contribute to the negative perception of real estate agents. People worry that agents might prioritise their interests or those of specific clients over the best interests of all parties involved.

At People Estate Agents we have a commitment to ethical conduct and ensure we disclose any potential conflicts of interest. We have a clear code of ethics and professional standards within the agency and regularly review practices to ensure compliance with ethical guidelines.

Market Rollercoaster:

The Unpredictable nature of the property market can lead to disappointment and frustration. When expectations clash with reality, dissatisfaction may be attributed to perceived shortcomings of real estate agents.

At People Estate Agents we educate clients on the inherent volatility of the property market and set realistic expectations. We provide market trend analysis and scenario planning to help clients make informed decisions. Develop contingency plans for potential market fluctuations and keep clients informed about shifts in the market that may impact their property transactions.

While it's essential to recognise the diverse range of experiences and opinions,addressing these concerns requires a joint commitment from real estate professionals and industry regulators to enhance transparency, ethical standards, and communication practices. By adopting a more open andclient-focused approach, the real estate industry can actively work towards rebuilding trust and establishing positive relationships with the public at large. We hope we are changing the industry for the better, one client at a time.

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Clare

 Written by Clare Hitchins

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