The real-estate industry has been in the news recently because of the real-world phenomenon of fake listings.
And while the realtor industry does have its share of people who would like to be realtors, a growing number of those people are not, according to an investigation by The Real Deal.
Real estate agents have been accused of being a cult, and it is the fault of those in the industry who believe that their profession is the only thing that matters in the real world.
The report, which was released by Real Deal Media Research, examined a number of real-life examples of agents taking advantage of a growing online real-tor community to prey on buyers who may be confused by their home’s listing.
“Real-estate agents have a significant, if not unprecedented, advantage in the marketplace,” the report reads.
“Many are the first people in their communities to be aware of a potential home buyer and then take advantage of the consumer’s confusion.”
It goes on to say that agents have the ability to make an immediate profit by charging more to sell a home and then charging buyers less when they are not ready to buy.
The authors also say that it is a “cult” to believe that you are the only person who knows what it is like to live in a home.
“The reality is that real-tourism agents are among the least skilled of any profession in the market,” the authors say.
“They often lack the training and knowledge to properly manage the properties and are less able to provide real-time information that will allow buyers to make informed decisions about their future home location.”
The report notes that the realty industry has also become more aggressive about targeting certain demographics.
“We found that, even in markets where there is no online real estate market, real-tenant agents were more likely to target younger, more affluent consumers who may have difficulty understanding the nuances of the properties they are listing,” it reads.
The study is part of a larger investigation by RealDeal Media Research that examined real-television advertisements, advertising campaigns, and the realtor industry.
“I think there is a lot of work that needs to be done on the real house and real-business side,” the author of the report, David W. Thompson, told The Real Dealer.
“You need to look at all sides of the equation.”
For more of our home buying coverage, visit The RealDeal.com.
The Real Deals is a national consumer news and lifestyle site that offers in-depth, award-winning, and investigative stories about real estate, real estate investing, realtor-related topics, and consumer behavior.
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