Buyers value honest agents

As real estate agents, market research is an incredibly important tool to help us understand how we can best work with clients to achieve not only the most successful results in today’s market, but to also ensure both repeat and word of mouth business in the future. 

When conducting such research, a key consideration for agents is to understand what attributes people value in their real estate agents, to see if these present areas where agents can make improvements to improve their chances of success. 

US organisation, the National Association of Realtors, posed this very question earlier in the year when it conducted a survey to compile its annual Profile of Home Buyers and Sellers.  According to the results of the survey, which were released in March 2011, 98 per cent of US home buyers and sellers rated honesty and integrity as the most important qualities they look for in a real estate agent. 

Despite the survey being conducted with US citizens, this data gives Australian agents a lot to think about.  Are honesty and integrity principles that are key to your dealings as an agent?

Australia’s current residential property market presents a few key issues that require agents to advise clients on.  It is likely that the agents who are best able to achieve career longevity will be the ones who approach such sensitive concepts with respect and honesty. 

2011 has seen the residential property market experience somewhat of a downturn, with many properties selling at a discount and remaining on the market for longer periods of time.  These conditions require agents to be truthful with clients at the beginning of the process, giving an honest assessment about a number of factors including:

• How much a property should be listed for;
• Buyer demand;
• A reasonable initial expectation of purchase price;
• At what stage a discount on purchase price may be considered;
• The amount a property should be discounted by; and so on. 

In the end, it will be the agents who are honest and who can deliver bad news to clients respectfully who will be able to build the strongest client relationships – with such relationships going a long way to help such agents achieve long-term career success. 

Posted by Reality Bytes - Real Estate Training Blog on 02/11/2011 at 9:26 AM | Categories:

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