Consumers' views of the professional attributes of real estate salespersons
Dec 2022 - 3 min read
CEA’s
2021 Public Perception Survey (PPS) provides a gauge of consumers’ satisfaction towards the services rendered by real estate salespersons (RESs). The survey findings allow CEA and the industry to have a better sense of the progress made by the industry in delivering professional service to property consumers.
This blog post focuses on consumers’ views on three professional attributes of RESs, namely Knowledge/Expertise, Ethics/Conduct and Service Excellence. It is the second in a series of blog posts where we delve deeper into the 2021 PPS findings and share how the industry can continue to meet evolving consumer expectations.
Consumers place the greatest emphasis on real estate salespersons’ knowledge and expertise
As part of the survey, consumers were asked to rate their RESs on 19 action statements grouped into the three professional attributes.
Consumers who had engaged the services of a RES in the past year were most satisfied with their RESs in the area of Service Excellence, followed by Ethics/Conduct and Knowledge/Expertise.
Those who had not engaged a RES before indicated that the RES’s Knowledge/Expertise was the most important professional attribute to them, followed by Ethics/Conduct and Service Excellence.
These findings show that both consumers and potential consumers have high expectations of RESs’ knowledge and expertise and place the greatest emphasis on this aspect of a RES’s professionalism.
How CEA is supporting the industry
CEA has embarked on a study of the required skillsets, competencies, and knowledge areas that property agents should be equipped with to prepare for the future economy.
Codenamed Project ADEPT (ADvancing and Enhancing Professionalism and Training), the study was undertaken by a workgroup comprising representatives from the estate agents (EAs), training providers and industry associations.
As part of the study, the workgroup is reviewing the entire Continuing Professional Development (CPD) ecosystem. The aim is to have a better CPD ecosystem with good quality trainers and relevant training courses, to sharpen the skillsets of property agents. This will better equip property agents with the relevant knowledge and capabilities to
provide quality service and serve their clients competently. Project ADEPT is in its final review stages and details of the workgroup’s recommendations will be shared next year.
Project ADEPT is one of the key initiatives under the Real Estate Industry Transformation Map (ITM) 2025. The Real Estate ITM vision is that consumers will be served by RESs who are client-centric and professional, with higher standards of competence and integrity. Under the Real Estate ITM 2025, CEA will continue to work with property agents and agencies to update their knowledge and skills, and have access to the relevant digital tools to continue to deliver value to property consumers.
How the industry can respond
With consumers having higher expectations of RESs’ knowledge and expertise, this presents opportunities for EAs and RESs to better understand their clients’ needs and provide value-adding services so that their clients can enjoy a more positive and personalised property transaction experience.
Here are some steps that EAs and RESs can take to uplift industry professionalism:
For EAs
- Conduct research to better understand the services that consumers value. Then, identify, curate and invest in relevant skills training that will enable your RESs to deliver these services competently.
- Create and offer a conducive environment for knowledge and best practices to be shared, e.g. provide platforms for RESs to easily access and share practical tips and opportunities for them to practice what they have learnt.
- Recognise RESs who take initiative to consistently upgrade their knowledge and skills, and Team Leaders who prioritise the development of their RES team members.
For RESs