The Trust Issue in Real Estate - And How We Address It
Before every listing presentation, I pull up a slide showing the least trusted professions in America. I always look at the bottom of the list first, figuring that's where I'll find real estate agents.
I joke with potential clients that I thought we'd be neck-and-neck with used car salesmen, but it turns out we're slightly higher. Even lawyers - highly educated professionals - rank lower than real estate agents in public trust. That's the reputation we're working against in this industry.
Why This Matters
Most people don't think about this when they're hiring a real estate agent. They focus on commission rates, marketing strategies, and comparable sales. But trust should be the foundation of everything else. Without it, nothing else matters.
Let me give you a specific example of how games can be played. Say I have a listing for $989,000 - right around a million dollars. The seller has looked at Zillow and thinks that's about right. But I actually believe the house is worth $1.1 million.
An unethical agent might say: "That Zestimate looks good. Let's list it at $989,000. And by the way, I have a buyer for your home." They bring their buyer through before it hits the market and tell the buyer to offer over asking - maybe $1.03 million. Then they tell the seller they'll cut their commission by one percentage point since they're representing both sides.
The seller is thrilled - $40,000 over asking and savings on commission! They're telling everyone at cocktail parties how great their agent was.
But here's what they don't know: if we'd put that house on the market properly and exposed it to all potential buyers, it might have received four offers with the highest at $1.2 million. They left $170,000 on the table.
Our Approach
There's nothing illegal about the scenario I described. But it's not in the seller's best interest. Our philosophy is simple: put the house on the market, expose it to as many qualified buyers as possible, and create competition. That's how you maximize value.
Sometimes sellers push back on this. They want the certainty of that early offer. In those cases, I'm very direct: you can accept that offer, but you should know you might be leaving significant money on the table. Ultimately, it's their decision - I just make sure they understand the tradeoffs.
Building Trust Through Actions
Trust isn't built through what you say in a listing presentation. It's built through consistent actions:
Answering calls and texts promptly, even at 10 PM
Attending every inspection personally to stay ahead of issues
Getting multiple contractor estimates to save clients thousands
Being available to check on properties during storms
Going beyond real estate help when we can (like arranging car shipping for a client going to Florida)
After working with us, clients consistently tell us - even those who've sold homes across multiple states - that this was their best real estate experience. That feedback matters more to us than any commission increase.
Why Good Agents Are Worth It
The agents in our office, and many throughout this area, are genuinely professional. They work hard for their clients. But the industry's reputation means we all have to work harder to demonstrate our value and integrity.
When someone comes out of a transaction with us saying, "This is not what I expected from a real estate agent - you were so professional," that's the ultimate compliment. It means we've overcome the trust deficit our industry faces.
If you're choosing a real estate agent, don't just look at their marketing materials and comparable sales. Ask yourself: do I trust this person to have my back when difficult decisions come up? Do I believe they'll prioritize my interests over a slightly larger commission? That trust is worth more than any other factor.
Written by Scott Spelker, The Spelker Team. For expert guidance on buying or selling in today's market, we're here to help. Reach out to us via our website or give us a call for a no-obligation consultation.