agent ratings

Fear of Agent Ratings

by Victor Lund on November 25, 2013

The real estate industry seems to want to avoid judgments and ratings of any and all kinds. It may be for good reason, or it may be for fear. The reality is that agents resist ratings for fear and reason. Most people react to change with emotion and justify that emotion with logic. Fear According to the source of all knowledge, Wikipedia, fear is an emotion induced by a perceived threat that causes entities to quickly pull far away from it and usually hide. It is a basic survival mechanism occurring in response to a specific stimulus, such as pain or the threat of danger. In short, fear is the ability to recognize danger leading to an urge to confront it or flee from it (also known as the fight-or-flight response) but in extreme cases of fear, a freeze or paralysis response is possible. As we break down the definition of fear, there are a number of keywords like “perceived,” “pull back,” “hide,” “basic survival,” “threat stimulus,” “fight-or flight response,” and “paralysis.” These are all very deeply rooted primary drivers of the human condition. It will take a revolution to overcome this fear, and I think the groundswell of that revolution may have already begun. Yelp, Zillow, California Association of REALTORS®, National Association of REALTORS®, countless technology firms, and countless MLSs have all dabbled in agent ratings. To be clear, consumers of real estate services demand ratings as part of their selection process. Real estate agents are fearful of the ratings because they may or may not be true depictions of the expected services delivered by an agent. Like it or not, agents will be rated. The real question for our industry is who will you trust to rate you? Who will consumers trust? Trust Back to Wikipedia, Trust is when one party (trustor) is willing to rely on the actions of another party (trustee). The trustor (voluntarily or forcedly) abandons control over the actions performed by the trustee. As a consequence, the trustor is uncertain about the outcome… but develops expectations. The uncertainty involves the risk of failure or harm to the trustor if the trustee will not behave as desired. Who should agents Trust? I have always believed that the administration of programs like agent ratings should be local – like the local MLS or Association of REALTORS®. These entities are there to develop structure for the agent […]

{ 8 comments }

Nielsen credits HAR and Zillow among others

by Victor Lund on November 7, 2011

Agent Ratings

When it comes to measuring marketing effectiveness, there is little argument that Nielsen is the leader. Nielsen believes that providing clients with a precise understanding of the consumer is the key to making the right decisions — decisions that can lead to profitable growth. At Nielsen, they are always innovating to keep pace with emerging market trends and the increasingly diverse, demanding and connected consumer. Joining Nielsen is the Houston Association of REALTORS, Zillow, a few dozen brokerages, and about 500 of the more than 1 Million REALTORS in America today. These REALTORS are the bold, the true, the transparant, the honest – those that submit themselves to a professional rating by the consumers that entrusted them in a home transaction. Agent Ratings.

{ 0 comments }