The Property Profession – A Deeply Misunderstood Industry - Part 2
Mon 20 Jul 2015
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Paul Jager
MOL Product Manager - Property & Conveyancing
In the first installment I explained that the property profession is deeply misunderstood by the public. Fortunately, there is a way to quickly remedy this and in the process generate more business for property agents.
One of the reasons for the public’s dissatisfaction with property agents, I believe is because they don't know what they really do. I'm sure they think agents make ‘money for old rope’ – they come into work in the morning, have a cup of coffee, market a few properties and then wait for the offers to come rolling in.
Nothing could be further from the truth!
If I think back to my estate agency days, any of us who’ve run around on a Friday afternoon trying to arrange an exchange of contracts or spent days trying to hold together the most impossible of sales, know how hard agents work. And, that is true regardless of the property sector they’re ….sales, letting, auctioneering, commercial or inventory providers. But I’m not convinced the public realise this.
I fear they are also oblivious to those things agents have no control over. Again, using estate agents as an example, they have no influence over the speed of a conveyancing solicitor, how quickly a mortgage survey is booked or the date of an exchange of contracts.
They definitely have no control over whether property prices go up, down or sideways. But, agents are often blamed for all of these and more. Again this is true for agents in all property sectors.
Now I’m going to say something, dear reader that I doubt you're going to like.
The fact that the public have no idea what agents really do is not their fault. It’s those of us in the property industry. I’m not convinced that agents properly communicate what they really do for their commission. So, is it any surprise that the public think so little is done?
It’s important now more than ever that they do appreciate how hard those in the industry work. There are a growing number of people who want a slice of this country’s property business. This includes:
- parties who want to charge almost no commission for selling or letting property
- internet sites offering the public the opportunity to sell or let privately without the need for an agent
- landlords who believe that they can deal with the entire letting and property management process
Unless the industry starts to properly communicate what they really do and how indispensable they are, I fear big problems on the horizon.
Fortunately, there is a solution and it’s a simple one – just two steps. What these are and how this will help you win more instructions in the next instalment.
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