No, I am not talking about some man’s performance on the sporting field, commercial or in a bedroom. I am referring to those rating organisations that we all look at to determine whether it’s a good place to eat, stay or do business with.
The boom in rating agencies on the internet is obvious to us all. We all look to be rated and to have positive google reviews. Throughout the Real Estate Industry, there are many rating agencies , of which, rate my Agent seems to be the best.
The problem with rating agencies is that, we don’t know who is rating us. Moreover, do we send a review to clients who we know will give us a bad review? Of course not! Why would you give an angry punter an opportunity to survey you poorly? In this way, Rate My Agent, is weak in that is does not provide a view of all transactions.
I was toying with the idea last night with a couple of agents whether a rating site should be set up where you can rate your fellow professional in the property industry. In other words, this gives Solicitors the opportunity to rate real estate agents! Alternatively, let’s let real estate agents rate Solicitors and Mortgage Brokers.
Could you imagine, Solicitors rating Real Estate Agents. Solicitors would consider that a good real estate agent is one that is honest. Do they comply with the law? Do they know their law? It would not cross many Solicitor’s minds that, did the Agent get the best price for the Vendor or did they get is sold at all. Remember that, Vendors often give agents no real opportunity to get the best price because of their behaviour.
Alternatively, could you image the real estate agent rating the Solicitor. It wouldn’t be about the skills; it would be about how often they answer the phone. Did they answer the phone when I rang! Will the real estate agent really understand that busy people can’t answer the phone all the time? Of course not! Real estate agents are more interested in getting it done now and without any due care and any due consideration of the Lawyer.
Real estate agents consider Solicitors are “deal breakers”. Where Solicitors are jealous of the fact that real estate agents earn 20 times more then they do when dealing with a conveyance.
Whilst Solicitors and Real Estate Agents would be out there sparring, the mortgage broker in the corner would be sitting trying to work out who they most don’t want to upset. They are the silent assassins and often in the best position to determine who is a good Solicitor and a good real estate agent. Mortgage Brokers often consider a good Solicitor is one who does not criticize them. A good real estate agent is one who refers a property to them.
So, would it work? Probably not. Lawyers would not post anything on the rating network unless they were paid by a client. Real Estate Agents would probably get themselves in trouble because they would only hit the ratings notice when they were angry with a Solicitor. That’s most often, so they’d be consistently putting themselves in trouble. The one who could advise us, the Mortgage Broker, they would post a positive rating every time they receive a referral.
It sounded like a good idea! The co-professionals within a single industry rating each other so that the consumer can determine who will protect them, sounded a great idea. But when you delve a little, the players within would fail to participate. This is the conundrum!