Ensure you never miss an issue of the
real estate business bulletin
Prospective buyer ID checks unrealistic

Prospective buyer ID checks unrealistic

by Reporter 0 comments

More than 65 per cent of agents believe prospective buyers should undergo identification checks at open houses, a straw poll by Real Estate Business has found.

Of the 550 respondents, 372 thought ID checking was an important practice while 170 were against the idea.

Richardson and Wrench’s Armidale principal Peter Cooke told Real Estate Business that thorough ID checks were a waste of resources and would be almost impossible to manage.

“At an open house, an agent’s job is to look after the house while providing details and information to the prospective buyers.  It would be impossible for them to do this while also inspecting the licenses of every person that walks through the door,” Mr Cooke said.

“You would basically need two agents at each open house which is a waste of time, energy and resources.”

Managing director and principal of Ray White Glebe, Nathan Pacer, agreed that conducting physical identification checks on every prospective buyer pushed the boundaries of good will.

“Most reputable agents already record the details of each person that wishes to inspect the property. Most are more than happy to give their basic details – suggesting they are fairly reliable,” Mr Pacer said.

“I don’t think there are any further benefits to be achieved by asking prospective buyers for some form of physical identification.”

 

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Prospective buyer ID checks unrealistic
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?