Why are Estate Agents Hated?
We can all agree that for many years the industry of estate agency has been less than favorable with the British public! If you compare the British agents to the US Realtors, it is quite the opposite. In the USA the industry is held in great esteem along with occupations such as Doctors!
There is good reason for this. In the UK absolutely anyone can be an estate agent. You could be an ex-convict and you can simply start up tomorrow, accessing properties and handling large letting deposits – it has danger written all over it huh? You need not have any real experience in selling or letting properties and you can attempt do the job with little or no training – advising would-be sellers and landlords incorrectly! This is partly the reason our industry is so tarnished over here: but changes are afoot, at long last!
There has been government consultation on estate agency regulation, and it has been announced by the government that we are highly likely to be fully regulated in the coming years, which is great news in our opinion. This means that anyone wishing for a career as an estate agent must have qualifications and work for a fully regulated firm who is accountable to the chosen regulator. A win-win for consumers surely?
Becoming an industry where qualifications matter, where advice is given with built-up knowledge, and companies must abide by set rules from an independent regulator to improve standards, is likely to increase the talent wishing for a career in estate agency.
We very much look forward to embracing the new chapter ahead for our industry and look forward to a more favorable view of estate agents from the British public… hopefully!