A new website that rates the performance of real estate agents is set to cause a stir in the property market.
Launched in June by former Sydney based estate agent, Michael Jackson, the site allows vendors to leave feedback on real estate agents which is then published online.
Operating in a similar fashion to other online media sites such as ebay or Tripadvisor, Rate That Agent uses third party referrals, reviews and ratings to help vendors make an educated decision when choosing an agent.
“Real estate agents are essentially unaccountable so there is an issue with trust, which is why we feel third party referral benefits the buyer.”
It will be interesting to see if the site gets some traction or if it is just used by agents to boost their own profile and bag other agents.
Mr Jackson said that there were strict guidelines put in place to help prevent the site from being abused.
“Consumers need to register, they need to tell us the address of the property in question and they need to stick to a very stringent rating guideline,” Mr Jackson said.
“We have already knocked back a number of reviews that are simply insulting to the agent and we try to avoid publishing reviews like that.”
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.