Buyers should use agents to represent them
Having an agent on each side of the property transaction would slash the number of consumer complaints against agents and enhance the profession’s standing in the community, the head of a major real estate group has said.
Tony Brasier, managing director and chairman at PRDnationwide, said many complaints against industry professionals stem from buyers failing to understand who the agent is representing in the property transaction.
“In my experience, any problems that arise through a transaction, and where an agent gets a bad reputation as a result, is because a purchaser believes that the agent is acting for [them] when in fact they’re acting for the person who is paying them, which is the vendor,” he told Real Estate Business.
“I’m all for buyers’ advocates, and I think that’s a great trend, and I think if there was an agent on both sides of every transaction you’d have … less issues. I think the standard of the profession would go up dramatically because you know who is representing you, and they’re representing you in the best interests, and I think the whole professionalism of the industry would rise. There would be less disputes.”
Rich Harvey, managing director at propertybuyer.com.au and the NSW spokesperson for the Real Estate Buyers Agent Association of Australia (REBAA), agreed that buyers’ agents were important in the property transaction process.