Why you should trust your agent

Written by Barry Du Bois

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You have to trust your agent, otherwise why are you dealing with them? And how will you ever feel comfortable about both the process and the outcome when you sell? But I get it, trusting someone in real estate is like trusting a politician or a car salesman.

You can’t blame people for being cynical. When it comes to the biggest financial transaction of our lives it’s easy to think everyone’s lying. The buyers are lying; “that’s my final offer”. The vendors are lying; “we won’t budge on the price” and between them the real estate agent is lying to both sides.

Did you know Roy Morgan research shows only 7% of the population feel real estate agents are trustworthy? But to be fair, surely the problem is the outdated process. Both sides work through a go-between, whose job is to represent the seller, but the agent is also representing themselves. The agent needs to get the deal done quickly, collect a commission and move on. The job therefore becomes to talk down the seller, and talk up the buyer.

As Brennan, who recently sold a home told me “You never quite know whether they (agents) are playing for you or for the buyer. You never really know if the real estate agent is working for you or for their back pocket”

But there is a new and better way, Purplebricks. This isn’t just because they offer a fair fixed fee. Yes they have saved Australians more than $51 million in unfair commissions in just two years. But talking to sellers you soon discover it’s not just about the hip pocket. Purplebricks customers say things like “it was more honest” or “it’s the no bullxxxx way” and “it’s 100% transparent”

So what is winning over customers and making Purplebricks the fastest growing agency in the country? Yvonne, had her home with an old-fashioned agent and it was passed in, then several agents approached her.

Yvonne’s home was passed in with another agent, she listed with a Purplebricks agent, sold in 2 weeks for $50,000 more and saved $22,000 in commission.

“Selling my house was a very negative experience for a year, it was so stressful. Real estate agents are seriously greedy. The games (some of them) played with us, saying they had a bidder, someone interested when they didn’t,” Yvonne said.

The experience left Yvonne not trusting agents, but the home had to be sold. In the end, Yvonne listed with a Purplebricks agent. Attracted by his up-front approach and the fact the revolutionary mypurplebricks platform meant Yvonne didn’t have to take things on trust. She could track every step of the process. While the agent does all the things you’d expect, from marketing the property to hosting open houses and negotiating, offers from buyers and their feedback are made online.

So Yvonne could see the offers in real time. She knew exactly what was happening. She didn’t have to take the word of the agent on face value. “With Purplebricks there’s no value in them playing games. They do their job and it’s all online, so you know what’s happening, it’s very transparent,” Yvonne said. As for the outcome, the home that had been passed in with another agent at $990,000 was sold by Purplebricks in two weeks for $1,040,000.

Knowing you get a full service agency at a fair fixed-fee and that you can see and control the process means it’s less stressful and you can trust your agent. After all, how can he or she lie? You can see what’s happening. Just ask Paula, who with her husband, sold an investment property with a Purplebricks agent for $37,000 more than their target.

“We did speak to other agents but their commissions were ridiculous, so we said let’s go with the one telling us straight out what they are going to charge.”

“Every offer was online so we could see, rather than relying on what an agent is or isn’t telling us. It put us in control. It makes it fair, it was all out in the open” Paula said. As for the result, Paula couldn’t be happier. “I reckon we were 50 grand better off going with Purplebricks. It was an awesome experience, I wouldn’t hesitate using them again. Why would you pay $20,000? I don’t understand why people would give their money away.”

There are many more similar examples. What it shows is the platform itself builds trust. It may often be that everyone isn’t lying, including the agent. With mypurplebricks you can see that to be true.