Buyers and sellers can now rate the services of their local agent via a new online portal that claims to ‘put the vendors in the driving seat’.
Launched in June 2011 Rate that Agent gives Australians the chance to share their buying and selling experiences with their peers.
In a media release that opened with the statement “it’s a well known fact that real estate agents are not the most trusted profession,” Rate that Agent claims the new ‘controversial’ site will turn that trust factor “on its head”.
Founder of Rate that Agent and former real estate agent, Michael Jackson said while agents can demonstrate their local experience and expertise through the online service, vendor and home buyers now have the opportunity to make a better informed decision when selecting an agent, based on past referrals and reviews.
“The motivation to create the site was to establish a national resource to shine the spotlight on top of real estate agents and caution unsuspecting home buyers and vendors about the poor ones,” Mr Jackson said.
However, Di Jones Real Estate, senior sales agent Di Grundy said the average home buyer will select an agent based on family and friend referrals, not an online rating site.
“While I don’t necessarily see this initiative detrimental to the industry, I just don’t see any real benefit to buyers or agent,” Ms Grundy said
“After being in the industry now for many years it is safe to say that 90 per cent of my listings stem from referral and repeat business, and this is done through word of mouth.”