Soho Proptech Carpool – Real Estate Game Changer ft. Tony Brasier

January 31, 2019

Could this be the game changer for the real estate industry?

Tony Brasier, Chairman and Managing Director of PRDNationwide believes having a sellers agent and a buyers agent on both sides of the transaction will lead to the trusted advocate status and ultimate professionalism of a real estate agent in Australia.

After 40 years in real estate, Tony has some great advice for buyers, sellers and agents in the video – check it out!

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Here’s the transcript of the video:

Tony Brasier thanks for joining prop tech couple with Soho. so nice to be with you
you wrote a really interesting article not too long ago about that the the
industry needs a game-changer what is the game changer in your opinion 
that even she actually needs I've been strong for a long time on having an
agent on both sides of a transaction and when you see the real estate Institute's
are promoting a higher standard of professionalism which I totally agree
with I don't believe you can have ultimate professionalism if you haven't
got an agent acting for both sides of a transaction you know since I've been in
real estate the Auctioneers and Agents Act was originally
a set of rules for agents and the principles they work with being normally
the vendors but over time the governments have put in more and more
consumer protectionism to a point where theoretically they got to be acting from
both sides but being paid from by one yeah now until we get to a point where
you know people have someone acting for them I say we'll never achieve that
trusted advocate status of it agent yeah there are buyers agents in Australia you
know it's steadily been growing the last kind of ten ten to fifteen years I mean
it's still I guess slow adoption what needs to be done to get more buyers
agents on but not just more buyers agents on more can consumers more buyers
actually wanting to engage with the buyer's agent and pay obviously a
buyer's agent fee yeah well I think it needs a strong campaign from the state
governments and the real side Institute's to encourage
it comes at a cost but that cost you know should be saved by having a
professional acting on your behalf and getting you the best possible price so
it can it can happen at the moment I would say it's only at the top of
topping in the market where people are pointing buyers agents if you look at
the block channel 9 series and the auctions air you know who's got the
highest profile of the agents involved in that whole process I would say the
three buyers agents that are acting for the bars and possibly you know what one
or two of the auctioneers is but I think that emphasizes on the point that you know if
we want to be the trusted advocate everybody's going to have an agent on
both sides of the transaction yeah in terms of phase especially in the u.s.
anyway you know the seller would pay a fee the buyer would pay a fee do you
think one of the I guess barriers to more buyers agents in Australia or more
buyers using those agents is that buyer actually has to be out of pocket now and
actually has to pay the fees out is that a gonna be hard thing to kind of adopt
yeah well it definitely is a barrier to overcome but but if you consider that
it's going to save you money anyway because you're gonna have someone
hopefully negotiating a much sharper price than you may be able to do
yourself you know their knowledge of the market which is which is it which is a
huge difference yeah it is it's a fact that you've got to pay a fee but if you
if you're buying shares you pay a stock broker if you're doing buying a business
you're paying your accountant I mean real estate is one of the few things
that you don't actually pay someone to act on your behalf to do the transaction
yep I guess in terms of getting this this adoption you said you know
be gonna filter it for the real estate news shoes could push it a bit more but
I guess what specifically needs to be done it's the kind of education is it's
a mass marketing because I don't shoot me a lot of buyers they don't really
understand how buyer's agent actually works
no but both state government you know they should be that they should be the
people promoting it the most because they'll be few consumer disputes
you know whenever I've been received a complaint from someone in a property
transaction it's normally being the purchaser who thinks that the agent is
also acting on their behalf now while they're trying to act in their best
interests they're still being paid by the vendor so it's the vendor
relationship is the one that is the most important to them to act in
their best interest so really state governments should be pushing this is
the best practice and the best way to do a property transaction yeah if I'm a
buyer what are the advantages of using a buyer's agent well I think a buyer's
agent in the first instance save me a lot of time they can research the market
for you they can get it down to a smallest based on your requirements so
hopefully you've been in a situation where what you're looking at is meets
your expectations and then it's a matter of choosing which property you want now
in the process of negotiation a professional negotiator would be far
better off than an individual dealing with an agent who is acting for
the vendor so I think in the long run a buyer's agent can also save you some
money in the negotiation
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