Consumers will continue to buy on price, not service as long as the UK sees estate agency as an easy career option without regulation or qualification, hiring managers have warned.
Peter Sheppard, managing director of recruitment outsourcing company Hintel, and Andrew Deverell-Smith, managing director of recruitment firm deverellsmith, told The Sunday Times this week that estate agents should be paid more.
They argued that paying a fair rate and demanding fair service would be the first step to ensuring a positive experience across the board.
Owning a home is still the biggest financial commitment most people will make in their lifetime, but there is always a race to the bottom when negotiating realtor fees and as a result service suffers.
Low base salaries combined with a lack of regulation had left the industry open to “those looking for a quick buck” for whom good customer service is an afterthought.
Mandating a basic qualification or training program would attract those willing to learn and deter rogue officers.
Unsurprisingly, the argument drew some derision on Twitter.
Real estate agent Henry Pryor tweeted: “What tosh!” in direct response to the Sunday Times headline, ‘We need to pay estate agents more money’ while Bank of Baby Boomers @LdnParris replied ‘World’s most useless parasitic profession’.
Others had more sympathy for the argument.
What I like about the real estate agency is that it’s a meritocracy.
Mortgage Broker Mike @MortgageMikeN2 replied, “What I love about real estate is that it’s a meritocracy. No matter your background, race, or gender, if you’re willing to work, the earning potential is fantastic. I have arranged many mortgages for estate agents earning over £100,000 a year and they deserved it.
Peter Sheppard said The Neg“A lack of regulation allows the few to degrade the perception of the many.
“The real estate agency is not necessarily a simple job. A good real estate agent does more than just list properties on portals. The industry could better demonstrate the value it offers.
“Real estate agents shouldn’t discount the work they do. Good consistent training coupled with good regulation could enable agents to justify their pricing ability.