{"id":7448,"date":"2016-03-25T01:00:06","date_gmt":"2016-03-24T14:00:06","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=7448"},"modified":"2016-03-25T01:00:06","modified_gmt":"2016-03-24T14:00:06","slug":"choosing-the-right-real-estate-agent","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/choosing-the-right-real-estate-agent\/","title":{"rendered":"Choosing the right real estate agent &#8211; Marta Higuera"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show we talk to <strong>Marta Higuera,<\/strong>\u00a0one of the CEOs from Open Agent.<br \/>\nYou might have seen the ads on TV that promote a website that offers sellers the opportunity to get assistance to select the best agent to sell their property. Mixed with that is the inference that if you go with them you will get up to $100,000 over your reserve. The site is Open Agent. There a number of similar sites offering the same inducements.<br \/>\n&nbsp;<\/p>\n<h4><strong>Transcript:<\/strong><\/h4>\n<p><b>Kevin:<\/b>\u00a0 Earlier in the show, I played an interview that I had recorded with Mark Dwyer about a website called Open Agent, which is one of many of the websites that are popping up now \u2013 there are quite a few of them \u2013 that purport to work with sellers to help them find the best agent.<br \/>\nYou would have heard some of the concerns expressed by Mark. In fairness, we\u2019ve asked one of the CEOs from Open Agent, Marta Higuera, to join us to answer some of those questions. She joins me now.<br \/>\n<b>Marta:<\/b>\u00a0 Good morning, Kevin. How are you?<br \/>\n<b>Kevin:<\/b>\u00a0 Very well, thank you. What are the qualifications of the people who are working in your site in terms of working with potential sellers to help them get the best price? Are they qualified agents?<br \/>\n<b>Marta:<\/b>\u00a0 No, they are not qualified agents. We don\u2019t try to replace agents here. Open Agent was born to try to help the consumer. In some suburbs in Sydney, there will be hundreds of agents in a given location, and consumers are trying to figure out which ones are the best, which ones are just coming to the industry, what they have done and what their customers have to say.<br \/>\nWe try to provide that information to consumers, which we believe is in the best support of the industry and the best agents out there.<br \/>\n<b>Kevin:<\/b>\u00a0 On that point, you say that you\u2019ll help them get the best agent. How do you assess the best agent? From what I can see, it\u2019s purely on the number of sales they make. What other measures do you use?<br \/>\n<b>Marta:<\/b>\u00a0 Last year, we helped more than 10,000 people find a real estate agent.<br \/>\n<b>Kevin:<\/b>\u00a0 That wasn\u2019t my question. What I asked you is how do you assess?<br \/>\n<b>Marta:<\/b>\u00a0 I was trying to answer your question. By talking with these 10,000 people, we know what they think about their agents. There are 30,000 or 40,000 agents that those people have worked with and we\u2019re trying to gather the reviews. These people are telling us whether the agents are actually doing what they are telling them they are going to be doing, what kind of service they are getting on top of the sales data, which is not easily available for the average person on the street.<br \/>\nI think it\u2019s a combination of sales and also their past customers experiences. We work with the top 15% of agents in the country.<br \/>\n<b>Kevin:<\/b>\u00a0 Sorry, let me ask you a question about what you said just then. You\u2019re working with the top 15% of agents in Australia. Is that correct?<br \/>\n<b>Marta:<\/b>\u00a0 Yes.<br \/>\n<b>Kevin:<\/b>\u00a0 Have all of these agents agreed to pay you their 20% referral fee?<br \/>\n<b>Marta:<\/b>\u00a0 That\u2019s right. I know that was a concern, but referrals at 20% is industry standard.<br \/>\n<b>Kevin:<\/b>\u00a0 That\u2019s agent to agent. That is not agent to third-party site, though.<br \/>\n<b>Marta:<\/b>\u00a0 The concern that Mark and you have, which is that agents refuse to work with us, that has not happened with those agents, because if you had worked with us\u2026 I encourage you\u2026<br \/>\n<b>Kevin:<\/b>\u00a0 That\u2019s not the feedback I\u2019m getting, Marta. I\u2019m getting feedback from agents who have said they wouldn\u2019t deal with you for that very reason.<br \/>\n<b>Marta:<\/b>\u00a0 Kevin. Every single agent that does say no to us gets escalated to me because we want to work with the top agents.<br \/>\n<b>Kevin:<\/b>\u00a0 I\u2019m not questioning you about the relationship you have with the people who sell with you. What I am questioning is your assertion that you\u2019re putting people in touch with the best agents. What I\u2019m saying to you and what Mark is saying is that it\u2019s not necessarily the best agents; it\u2019s only the agents you\u2019ll refer to someone who have actually agreed to pay you a fee.<br \/>\n<b>Marta:<\/b>\u00a0 What I\u2019m saying is that the best agents don\u2019t say no to our referral agreement, and when they do, we try to win them over. If they don\u2019t want to work with us and it\u2019s the best agent for that consumer, we still recommend them to that consumer.<br \/>\n<b>Kevin:<\/b>\u00a0 You will actually recommend an agent who won\u2019t\u2026<br \/>\n<b>Marta:<\/b>\u00a0 We tell them, \u201cThat is a great agent.\u201d They tell me, \u201cI\u2019m talking with so-and-so in this suburb,\u201d and I say, \u201cThat\u2019s a great agent. Do you want a comparison or not? If you\u2019re happy with that agent, carry on.\u201d What consumers, though, are looking for here is the comparison. We would like that you guys get to know us. We are very little and we haven\u2019t been reaching out\u2026<br \/>\n<b>Kevin:<\/b>\u00a0 You\u2019re actually quite big, Marta.<br \/>\n<b>Marta:<\/b>\u00a0 We are not <b>[3:42 inaudible]<\/b>.<br \/>\n<b>Kevin:<\/b>\u00a0 I know you\u2019re not. I\u2019m trying to give you a fair go here, but I have to get through a few more questions.<br \/>\nIn your television ad, you feature someone who says she achieved $100,000 over her reserve price. I\u2019m not doubting that. That probably was her reserve price. It\u2019s more a reflection of the fact that it was a low reserve and not necessarily a good agent. Would you accept that?<br \/>\n<b>Marta:<\/b>\u00a0 No, I don\u2019t. When she actually went out with a great agent and she got a great result, that is not necessarily just the agent. What we\u2019re trying to support here is that a great agent will get you more for your property compared with an agent who is not so good.<br \/>\n<b>Kevin:<\/b>\u00a0 We actually have an agent on the phone who has just called in. I wouldn\u2019t have a clue what he is going to say, but I\u2019m going to put him to air because he may have a question. I understand you want to use the name Phil, but it\u2019s not your right name. Is that right?<br \/>\n<b>Phil:<\/b>\u00a0 Yes, Kevin. How are you today?<br \/>\n<b>Kevin:<\/b>\u00a0 Good, mate. You\u2019ll have to be quick. What\u2019s your point?<br \/>\n<b>Phil:<\/b>\u00a0 One, the commission they\u2019re trying to charge is 20% plus GST. It\u2019s not 20%. The other thing is that on the terms and conditions that they give you, the client they\u2019re referring you to remains their client for 24 months.<br \/>\nIn other words, if you get put up against four or five agents \u2013 as you were saying, not necessarily the best agents but the ones who will comply with their terms and conditions \u2013 if that property doesn\u2019t get sold by the first agent and then one of your other agents in your agency picks up the listing, they\u2019ll still claim the 20% plus GST 24 months down the track.<br \/>\n<b>Kevin:<\/b>\u00a0 Marta, is that right?<br \/>\n<b>Marta:<\/b>\u00a0 Yes, that\u2019s right.<br \/>\n<b>Kevin:<\/b>\u00a0 How can you do that?<br \/>\n<b>Marta:<\/b>\u00a0 What\u2019s the problem?<br \/>\n<b>Kevin:<\/b>\u00a0 Let me ask you this question. An agent will sign someone up. They can only ever sign them up for a period in Queensland of 90 days. You\u2019re actually saying to that person that they are going to be your client for anything up to two years. Is that correct?<br \/>\n<b>Marta:<\/b>\u00a0 That is correct because there are a lot of people who come to us every year\u2026<br \/>\n<b>Kevin:<\/b>\u00a0 But you\u2019re not agents. You are not agents, Marta.<br \/>\n<b>Marta:<\/b>\u00a0 There are lots of people who come to us really early in the process. They are looking for a price and they are trying to meet the best agent. What we do is actually invest in following these people up for the agents, so when that 24-month clause is in there\u2026<br \/>\n<b>Kevin:<\/b>\u00a0 Follow it up for the agent or follow it up for you? Let\u2019s get real here.<br \/>\n<b>Marta:<\/b>\u00a0 We follow it up for the agent and we follow up for us. We are working together with our agents to do this. That clause is in there to take away a listing for an agent who has not managed to sell a house.<br \/>\nWhat we try to do in that case is actually work with the agent to educate the vendor as to why that property has not sold, which is in the case of a good agent, not because the agent has not done a good work or because of something that is happening in the market.<br \/>\nThat is why the 24-month clause is in there. The other thing that we do is do the follow-up.<br \/>\n<b>Kevin:<\/b>\u00a0 I\u2019m not finished with this, Marta, because I believe you are in breach of the act. I believe you\u2019re actually asking someone to commit to you for two years. You\u2019re telling agents the same thing. Agents can\u2019t do that. You\u2019re not agents.<br \/>\n<b>Marta:<\/b>\u00a0 How does that breach the act?<br \/>\n<b>Kevin:<\/b>\u00a0 You\u2019re getting a commitment out of someone for two years to work with you.<br \/>\n<b>Marta:<\/b>\u00a0 I advertise on TV. I have a lot more regulatory bodies than any real estate agent.<br \/>\n<b>Kevin:<\/b>\u00a0 I will follow this up. I want to follow it through because I do believe you\u2019re in breach of the act.<br \/>\nI\u2019m going to leave it there, Marta. Thank you very much. We will follow it up with you during the week.<br \/>\nA somewhat fiery discussion there, but we\u2019d really appreciate your feedback on this. If you had an experience with one of these websites \u2013 whether it\u2019s favorable or unfavorable \u2013 we would like to hear about it. You can let us know your thoughts by contacting us through the website at RealEstateTalk.com.au. Just use the \u201cContact Us\u201d button and send us your message.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show we talk to Marta Higuera,\u00a0one of the CEOs from Open Agent. You might have seen the ads on TV that promote a website that offers sellers the opportunity to get assistance to select the best agent to sell their property. Mixed&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":6144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,10,13,17,23,25],"tags":[101],"class_list":["post-7448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies","category-kevin-turner-sponsored-channels","category-latest-story","category-property-investment","category-selling-a-property-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Choosing the right real estate agent - Marta Higuera - 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\/choosing-the-right-real-estate-agent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choosing the right real estate agent - Marta Higuera - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; In today&#8217;s show we talk to Marta Higuera,\u00a0one of the CEOs from Open Agent. 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