Ensure you never miss an issue of the
real estate business bulletin
Agents must be more transparent

Agents must be more transparent

by Simon Parker 1 comments

Transparency should be at the heart of everything real estate agents do, and technology should be about helping agents get closer to consumers and not just about boosting productivity, an industry conference has heard.

"Let's be the [industry] that is transparent," Ben White, director at Ray White Group, told attendees to the Young Professionals in Real Estate (YPIRE) Gold Coast conference earlier this week.

Mr White told a room full of sales agents, principals and property managers that he was horrified that some agents still didn't share information with their vendors. This included information on who visited an open home.

He said websites such as tripadvisor.com, which had built a huge following by allowing people to directly comment and rate their stay at a hotel, could be the template for what might occur in the real estate space.

It was therefore better for agents to implement this approach now, as this would allow agents to be transparent with consumers on their own terms, and would help them stand out from their competitors.

"It's time for this industry to get its credibility back," he said.

Mr White added that technology, whilst delivering obvious productivity gains, should be more focused on helping an agent get closer to the consumer.

He said consumers were now comparing their online real estate experience with what companies in other industries were offering, including banks and telecommunication companies.

For instance, he said vendors might question why they know what their friends overseas are doing via Facebook, but they don't know what's happening with their property, or agent.

In an industry where one in two people who attend a home inspection don't receive a callback, he encouraged agents to take a cold, hard look at how they might be perceived by consumers.

"How would someone choose an agent in my area," was the question he said agents must answer.

Agents must be more transparent
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
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

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?