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MELBOURNE, Australia, Sept. 13, 2024 /PRNewswire/ -- As one of the biggest shake-ups in the US property market comes into effect, review and reputation platform RateMyAgent is set to release powerful new data that will help prospective buyers identify top-performing agents.
Delivering a transaction that is in line with price expectations is a material factor of client satisfaction in the overall agent-client relationship. To highlight agents who consistently achieve a property price that meets or exceeds client expectations, RateMyAgent has launched a new 'Price Expert' badge.
The move comes after the recent National Association of Realtors ruling that changes the way commissions are negotiated and paid, with one outcome being that buyers agents will be more actively negotiating their commissions with buyers.
"According to a recent NAR report, 'reputation' is the most important factor in the selection of an agent," said Jim Crisera, CEO of RateMyAgent. "While important in all markets, the recent changes to the way commissions in the US property market are being negotiated, the 'Price Expert' badge will provide an additional dimension for top agents to highlight the value they are able to provide to a prospective buyer or seller."
"Buying and selling property is one of the most important financial transactions we make in our lives, so consumers will naturally seek out the most trusted agent, the one who is an expert in the area and the one who will get them the best price."
RateMyAgent's new 'Price Expert' badge will reflect the valuable feedback of consumers.
Consumers who submit reviews are asked how the agent performed in relation to their price expectations. Those agents who consistently achieve a property price that meets or exceeds expectations are now being rewarded with a 'Price Expert' badge.
"For buyers agents in particular, this feedback becomes a powerful way to differentiate from their competitors and demonstrate their value to potential clients," said Mr Crisera.
"I am encouraged to see a proactive approach to measuring and leveraging data to make intelligent 'business' decisions in real estate," said Travis Saxton, SVP Technology Consulting at T3 Sixty. "All too often we react without the necessary intel. Now the ability to measure client satisfaction and the direct correlation to expectations in these uncertain times will help great agents get ahead."
With this addition, top performing agents will now be able to earn the following badges to help highlight their reputation as they work with prospective homeowners:
Agent Recognition Badges by RateMyAgent
Trusted Agent
Awarded to agents that request 100% of their reviews. These agents provide exceptional service to all their clients and are also open to more critical, constructive reviews.
Top 20% Agent
This badge is given for a high level of customer satisfaction, when the agent is in the top 20% of agents nationally for their Review/Sales Ratio (RSR).
Price Expert
Awarded to agents that achieve a positive response to price expectations on at least 90% of their reviews.
Agent of the Year
Awarded annually to agents that have the highest total sold properties, verified reviews and Review/Sales Ratio in the last 12 months.
About RateMyAgent
RateMyAgent (ASX: RMY) helps homeowners select trusted real estate professionals. Operating in Australia, New Zealand and the United States, RateMyAgent continues to lead the global market in championing agents that are dedicated to exceptional client service.
RatemyAgent is both a platform for consumers to find and compare real estate professionals, and a powerful marketing tool for client-focused agents to build their reputation online.
RateMyAgent is used by over 348,000 agents and over 9,800 real estate offices worldwide.
Media Contact:
Harry Marsden
harry.marsden@ratemyagent.com
