Another survey shows agents rating poorly in the most trusted professions by ranking 28th out of 30, below lawyers, talk back radio announcers and even below politicians.
Apparently we’re surprised by this because as an industry we have improved. I agree, I have no doubt that as an industry we have improved however is it just the Top 20-30% that have improved their skills significantly just widening the gap with the rest, leaving 70-80% of the industry still untrained and unskilled?
The issue of Trust with consumers lies in our system.
From a consumers perspective, and let’s not forget they buy a property every 7-10 years, they believe they can apply a level of trust in the agent. That’s natural, it’s what we are trying to do, however we do not represent the buyer, we represent the Seller.
The Seller is told “we work for you and we will look solely after your best interests”. As the sale process continues and the feedback begins based on buyers opinions the Seller then begins to question where the loyalty lies.
How can consumers understand and trust us when our role “represents” both parties?
The American system relies on a representative of each party. Agents act for Buyers or Sellers and each are paid by their client. Agents do not communicate with both parties. Wouldn’t this provide consumers greater clarity around who they can trust and where loyalties lay?
We do have buyer’s agents here but the system is different and it’s not an indoctrinated culture like the USA.
Is there an opportunity here for us to recruit staff to act as buyers agents within our Agencies? Salespeople’s whose role it is to service a buyer and find a suitable property, negotiate on their behalf and be paid by the buyer?