The real estate buyers and sellers have been warned about the very amazing thing they are told to wary of online companies promising to connect them with the best possible agent in their area to help with their property transactions.
Most of the consumers assume the consolidation, once contacted, they just go for checking all the agents operating in their suburb, who are carrying out due diligence on them and then thin k and afterwards work out which ones is the best suited for their needs. But in the present time it’s a trend or don't know what’s there they just turn out to be simply computer programs aggregating agents in the suburb and passing their details and fees on with no checks or balances – and then they are claiming for the commission from any successful agents.
“Some of their claims are very misleading,” says the agent Doug Driscoll, the CEO of real estate agency Starr Partners. “To read their ads, you’d assume they do all the legwork for you as the consumer. But most of them don’t.
“They’re just automated systems that, once you’ve put in your details, spit out agents and then demand to be paid from the agents – who have often already been in touch with those vendors — and threaten legal action.”
There is a one services, named Local Agent Finder, that says that they’re in the process of improving their operation. Chairman and one of the founders Rupert Greenhough says from now more and more information would be rendered to the consumers, with endorsements from other customers later this year or early next.
“And on the agent side, a new agent portal is being progressively rolled out at the moment,” he says. “From time to time, we’ll inevitably have disagreements but over time we’re working to increasingly reach out to our customers.”
Which option is suitable? Can anyone guess?