{"id":5705,"date":"2015-09-14T01:00:31","date_gmt":"2015-09-13T15:00:31","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5705"},"modified":"2015-09-14T01:00:31","modified_gmt":"2015-09-13T15:00:31","slug":"what-do-you-really-think-about-real-estate-agents","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-do-you-really-think-about-real-estate-agents\/","title":{"rendered":"What do you really think about real estate agents? – Kylie Davis"},"content":{"rendered":"

 
\nIn today’s show\u00a0we catch up with the author of a report on what you really think about agents,\u00a0Kylie Davis<\/strong> who is the head of Real Estate Solutions at CoreLogic. This is part one of it, we will catch up again Friday.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin<\/b>:\u00a0 I was really interested to read some research that was released during the week by CoreLogic RP Data. Market research company Roy Morgan has been polling Australians about the trustworthiness of different professions since 1975. Real estate agents really haven\u2019t rated all that well over the years. I guess it\u2019s painting a different picture. The 2015 results are out. I\u2019m talking now to Kylie Davis who is the head of Real Estate Solutions at CoreLogic.
\nKylie, thanks for your time.
\nKylie:<\/b>\u00a0 Thanks very much, Kevin. Great to be here.
\nKevin:<\/b>\u00a0 I was really interested to go through some of these results. Let\u2019s deal with a few of them. Let\u2019s have a look at the first one. We always talk about how important it is for people when they\u2019re selling their property to call in more than one agent. But I notice that 38% of people only call in one. Is that, do you think, because agents are getting better at marketing themselves?
\nKylie<\/b>:\u00a0 I think there are a couple of things sitting behind that number. My initial reaction was, \u201cGee, that\u2019s a lot of people who are playing a bit of Russian Roulette with how they go,\u201d but what\u2019s behind it is that the people who only call in one agent have usually done a couple of behaviors before they call in that one agent.
\nThey will have probably seen an agent successfully sell a local property. They will have been to a couple of open for inspections or they will have checked out the market and seen an agent in action and been impressed by how he or she managed that process or how they interacted with them.
\nEspecially what those people who are only seeing one agent are doing in most cases is they\u2019re also doing a lot of online research. They\u2019re looking at the agent\u2019s website, finding out how that agent behaves and how they present properties and what their process and structure is. They\u2019re doing a lot of offline research. Then they\u2019re meeting the agent and interviewing them to confirm what they\u2019ve seen is good to go.
\nKevin<\/b>:\u00a0 The big drive in the industry is about becoming someone\u2019s agent before they actually need one. That probably is the end result of that type of activity.
\nInteresting there, picking up on a point that you made about how much research sellers do. They use the Internet but only 3% of vendors are influenced by social media. It\u2019s obviously not having as much of an impact as I thought it would have.
\nKylie<\/b>:\u00a0 We were a bit surprised by that. We thought that there would be more. I think that there are a couple of things at play in that space. Unless you socially know an agent because they\u2019re a friend or you know them through acquaintances, you\u2019re not going to friend them until you are in that space where you want to buy or sell.
\nI think, too, a lot of agents do social media really poorly. Posting on Twitter, \u201cI have a new house for sale,\u201d or \u201cHere\u2019s a new house for sale,\u201d is the most boring thing and no one wants to follow that. That kind behavior in that social space isn\u2019t working as a way of attracting either vendors or buyers.
\nKevin<\/b>:\u00a0 What were the big things that were attracting them? What did you find out there?
\nKylie<\/b>:\u00a0 Overwhelmingly, one of the key influences is seeing the agent perform successfully for somebody else. What that told us was that the take out for real estate agents is that every open for inspection is an audition for every potential new customer you might ever have.
\nIn fact, when you go into an open house, even if you\u2019re just kicking the tires or checking out a neighbor\u2019s home, the way that an agent treats you during that process is going to make you decide that they\u2019re worth thinking about if you ever come to use them again or whether you just dismiss them on sight, pretty much.
\nKevin<\/b>:\u00a0 Obviously, potential sellers are doing a lot more homework than I think agents realize. You make a good point there about how they perform at an open house, how they\u2019re going to be judged by that performance, and how they\u2019re going to be followed up because it\u2019s like an audition.
\nKylie<\/b>:\u00a0 It is. It\u2019s completely an audition. You have to be on from day one. A lot of real estate agents, I think they segment in their mind, \u201cI\u2019m just trying to sell this house now so that has nothing to do with my next prospect. That\u2019s a completely different behavior.\u201d In fact, what the research shows that they\u2019re really intrinsically linked.
\nKevin<\/b>:\u00a0 Was there a difference in performance or the way they\u2019re assessed between male and female agents?
\nKylie<\/b>:\u00a0 There was and there wasn\u2019t. We asked our survey respondents\u2026 And all of our survey respondents were people who had sold a home recently. I think that\u2019s a really important differentiator.
\nWhile Roy Morgan was asking the community at large, \u201cWhat do you think of agents?\u201d what we wanted to understand was people who are actually paying to use an agent in selling their home, what was their experience like in dealing with that agent and how good, bad, or indifferent was it?
\nWe asked our survey respondents if their agent was male or female, but that was all we asked. Then we basically did a whole lot of research into what the behaviors were that made an agent amazing, all right, or poor, and then we broke that down by sex. That was how we got to it. We weren\u2019t asking anyone to judge whether their male agent was better or worse than their female agent.
\nWhat came out of that, though, was that there were four or five key behaviors that an agent does or doesn\u2019t do that will determine if they are excellent, okay, or not great.
\nKevin<\/b>:\u00a0 We\u2019ll come back a little bit later in the show and tell you what those key findings were. One of the other findings we\u2019ll discuss later in the show, too, is why so many consumers lose confidence in their agent during the selling process.
\nKylie Davis, back again with us a little bit later in the show.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In today’s show\u00a0we catch up with the author of a report on what you really think about agents,\u00a0Kylie Davis who is the head of Real Estate Solutions at CoreLogic. This is part one of it, we will catch up again Friday.   Transcript: Kevin:\u00a0…<\/p>\n","protected":false},"author":176692471,"featured_media":5706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-5705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"\nWhat do you really think about real estate agents? - Kylie Davis - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-do-you-really-think-about-real-estate-agents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What do you really think about real estate agents? - Kylie Davis - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  In today’s show\u00a0we catch up with the author of a report on what you really think about agents,\u00a0Kylie Davis who is the head of Real Estate Solutions at CoreLogic. 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