Tom Panos issues a brutal message to Real Estate agents trends now
An Australian real estate guru has taken aim at some agents in his industry who he said are putting their own egos ahead of their clients.
Sydney auctioneer Tom Panos, who runs a training businesses for property sellers, said in a 'rant' shared to his social media that some agents were acting like bankers in the years before the global financial crisis (GFC) hit.
'When did agents get such big egos? Wake up call, you are not the hero, the vendor is,' Mr Panos, who is known for his appearances on The Block, said.
Mr Panos said agents focused on their own profile and wallets when selling properties were only damaging their long-term business, likening the behaviour to bankers whose widespread irresponsible lending was the catalyst for the GFC.
'I don't know when it happened but at some point in the last two decades we moved away from making the hero the client and, all of a sudden, the real estate agent decides their the hero in the transaction.'
Sydney auctioneer Tom Panos said real estate agents who acted like they were the star of the transaction when a customer buys or sells a house were damaging their long term business
Mr Panos said he was frustrated by real estate agents who forgot they are there to provide a service for their customers.
'You see that in the way real estate agents - not all of them and that the thing that annoys me is that - but a small cohort of agents are acting like the bankers did before the GFC.'
'If you remember the world of banking before the GFC it was a money trail - do what you want sell what you want, make money, don't worry about the client, this is going to be a party that's never going to end.'
'At some point the hero moved from being the vendor and the real estate agent decides to be the be the hero - including the way they act and even the way do their marketing.'
'In some properties the agent is more marketed than the actual home and it has been funded by the vendor '
'Is there a real estate trainer out there that's telling people just do what you want to do, look good and screw everyone else.'
Mr Panos likened the behaviour of a 'small cohort' of agents to bankers before the GFC who acted like their industry was 'party'
Many commenters on Mr Panos's video agreed, both within and outside
