Agency practice has become far more complicated and sophisticated, even though it is a simple business for something that is your greatest asset. The consumer information and awareness is much higher. The elements that we deal with on a day to day basis require much more skill levels. So for the consumer who believes they can do this by themselves – currently 1%-2% is fraught with danger.
I doubt whether it will ever get to the point where the consumer knows as much or more than the agent. I deal with a lot of high-end clients whom are absolute experts in their field but know nothing about property. We are becoming a much more specialized society where if I want something done I will get the expert in that field to do it. It is almost impossible now to know everything about everything. We can go to the client and from the time of first introduction to settlement we can show them the 345 things that we do to get that result. It is touch points, engagements, negotiating, knowing what to do. The standing outside the open home is an end result of having all of these 345 things that need to be done. It’s like doing your own conveyancing. Don’t go there. Things can go wrong and when they do, they go horribly. Pay the $1,000 and have piece of mind. It is more than just having the tools…it is knowing how to use the tools.
The only constant around, is change and anyone in this industry that thinks that change is not inevitable is a fool. The industry needs to disrupt it selves before disruption happens, get their heads out of the sand and realize what responsibilities and accountabilities we have to our clients.
What is you mission with the REI?
“What I call the journey to professionalism.” I feel that the value of a real estate agent’s license needs to be valued higher. The level of education as this time is woeful. An agent is being put in the position of handling, what for most, is their biggest asset and you need to be trained to do that.
If the consumer can see that the road to being an agent is one that really needs to be earned, then perception as a professional and not a 'fly-by-nighter' will be more that accepted.
What is your view on Stamp Duty?
“Don’t get me started!”
One of your favorite quotes?
Richard Branson “What is best for the customer, is best for the business.”