With AI being the hottest topic in the technology world today, we decided to explore how Artificial Intelligence views estate agents and the reasons behind their negative image in the media and public eye.
Utilizing Bing’s ‘Copilot’ AI, we posed the bold question, “Why do people hate estate agents?” to see what insights AI could provide.
While much of the AI’s feedback was expected, it draws from a large span of online sources. This implies there’s truth to these criticisms, and the real estate industry should be attentive to these concerns.
Real estate firms should evaluate their customer communication, the justifications for their property valuations, and reflect on their integrity in transactions—are there any unethical practices taking place?
Here’s the distilled answer from Copilot AI:
Estate agents are seen as mysterious players in the property market game. While opinions are mixed, let’s dissect why they might not be always favoured:
Trust Issues:
Trust is fragile, and estate agents have a tough time earning it. A poll showed only 1% of UK adults find them to be trustworthy, even less than lawyers and traffic wardens. Some within the profession acknowledge that this negative view is sometimes warranted.
Communication Woes:
Imagine not hearing back with important updates—that’s a frequent frustration with estate agents. Both buyers and sellers desire quick and clear communication, qualities often lacking. If you’re working with an online agent, be wary of complaints about insufficient market knowledge and low-quality property photos.
Shady Valuation Tactics:
Valuing properties can sometimes seem magical or dubious. Dubious valuation methods annoy buyers and sellers alike, and more transparency would improve their reputation.
Profit-Driven and Pushy Sales:
The aggressive pursuit of profits can result in pushy sales techniques, making customers feel pressured. Estate agents are sometimes perceived as unwanted intermediaries, adding to frustration.
Finger-Pointing When Problems Arise:
Estate agents often take the blame when deals fall through or don’t live up to expectations, possibly because of their prominent role in the complex process of exchanging contracts and keys.
So what’s behind the animosity? It boils down to a combination of trust issues, communication breakdowns, and sometimes, less-than-ethical practices.
