Agents and brokers urged to show each other respect

Referral relationships are "awesome" when they work but can suffer if communication is poor, according to a Ray White Group director.

"The biggest challenge is communication. And misunderstanding. That then flows into things like ego and everything else," according to real estate and broking veteran Sam White.

Mr White, who is chairman of Ray White sister company Loan Market, said each party sometimes fail to recognise the hard work and professionalism that the other displays.

"When one of those isn't working, that level of trust breaks down," he said.

"Brokers need agents to get pre-approved clients to buy. Agents need brokers to get clients finance to buy. There is a symbiotic relationship that happens and becomes tough at times."

Mr White has on-the-ground experience of both professions, having worked as an agent and a broker.

"The relationship between a good broker and a good agent is awesome when it works," he said.

Ray White Group has tried to enhance that relationship by recording a net promoter score (NPS) for each party, according to Mr White.

"We wanted to show Ray White agents what a strong relationship there is between a broker and their customer. The NPS really backed that up," he said.

"We've been looking at ways to give more evidence and structure to the fundamental basis of the relationship, which is 'I'll give you this name and number, but I need to make sure you understand that it is an important relationship to me, and I want you to respect and look after this person as much as you can'."

[Related: Agent-broker referral app generating thousands of leads]

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