Guided by ethics in real estate

Buyers and sellers of property are constantly bombarded with a plethora of information and advice on when the right time is to buy, what economic factors to consider and other insights that often leave them confused. It is here where the onus of guidance and ethics for a real estate agent play a crucial role.  

Guiding people through a real estate purchase or sale is an important responsibility that requires estate agents to assess each deal according to its own merit and apply their knowledge and skills to leave the client with a satisfactory experience.

It is not always easy as external factors can undoubtedly influence a sale or purchase and leave both the agent and buyer/seller frustrated. In situations like these estate agents need to be motivated by customer satisfaction and service as opposed to getting the deal done. Estate agents practice is  governed by a strict code of conduct prescribed by the Estate Agency Affairs Board (EAAB).

One such conduct guideline stipulates: "In terms of estate agents' general duty to members of the public and other persons or bodies, an estate agent shall protect the interests of his client at all times to the best of his ability, with due regard to the interests of all other parties concerned."

Adhering to this code of conduct should remain a priority for estate agents at all times. It is not only beneficial to your clientele, which would receive high quality service and transparency, but an estate agents reputation is of equal importance, and if clients are receiving the care and advice they need, then you will undoubtedly be known for your business practise.

In addition, it is also up to the estate agencies and property groups to continually remind and train their agents about the ethics paired with this profession and reinstate a set of values that mirrors the EAAB code of conduct. Successfully buying and selling real estate is mostly about fulfilling people's needs, dreams and aspirations. Receiving continual in-depth professional training so that they are committed to building meaningful and genuine relationships with their clients.

At Harcourts, training is our is one of our key priorities and it has become recognised as the benchmark for the entire industry. Our huge volume of referrals and repeat business that generates is proof that this combination works to everyone's satisfaction.

Estate agents need to take customer feedback to heart, it is an incredible asset to your role. As technology has completely merged with business, communication lines have become open. Thanks to digital channels like social media, emails and online listings, clients can engage directly with estate agents at all times, as well as engage with each other about experiences with a certain agent. Use this communication tool to gain insight into customer requirements and set satisfaction benchmarks to build an ethical compass that continually guides you.