A former Aussie real estate agent has revealed the culture shock he got when he moved to the US and discovered that agents weren’t automatically considered untrustworthy.
Ivan Bresic is now a consultant, but previously worked as a real estate agent for decades and was a founder of the Sydney real estate agency chain, Bresic Whitney.
The 47-year-old co-founded the business in 2003 but exited in 2020 to relocate to America and now resides full-time in Austin, Texas.
Mr Bresic explained on social media that, since moving to the US, he has noticed that real estate agents don’t get such a bad rap.
“I’ve been back in America for about a month and everyone I speak to here, who sort of follows me or whatever, they can’t believe the hate towards real estate agents in Australia,” he said.
“It is wild.”
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‘Very little animosity’
The former high-flying Sydney agent said that, while in Australia it might be common practice to be negative about real estate agents, in America that just is not the case.
In the US there’s “very little animosity” towards real estate agents, Mr Bresic said, adding that, culturally, there isn’t an overriding sentiment that they are untrustworthy.
The former agent finds this interesting because American agents charge between 4 and 6 per cent per property sale.
In contrast, in Australia, the industry standard is between 1.8 and 2.5 per cent.
He has also found that agents in America are less committed and contactable, whereas Aussie agents, generally speaking, are easy to reach and are very committed.
“Australia’s got a transparent system, (real estate agents are) always available, and yet there is so much hate,” he said.
“Someone please help me understand why there is so much hatred towards real estate agents in Australia.”
Mr Bresic has staunchly defended the real estate industry in Australia in the past, claiming it is “the hardest working industry in the country” and arguing that agents are not overpaid because they work hard.
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Mr Bresic’s question hit a nerve online
A lot of Aussies commented, and one argued that it is because real estate agents are too “egotistical”, and another claimed it is because agents lack “transparency, integrity”, and self-awareness.
One argued that it is not hatred, but that the industry gets “fair criticism” from fed-up Aussies who are sick of dealing with subpar agents.
Interestingly, a real estate agent chimed in and claimed that it is because in Australia tall poppy syndrome is rife, with the commenter saying they ended up moving back to Canada to build their career.
Another agent chimed in and said Aussies have a “love/hate” relationship with agents and claimed it is because “we can make more money than a surgeon” and then added a crying laughing emoji.
Someone else argued that “Aussies just hate anyone that is good” and one said it is because agents have a reputation for “flat-out” lying.
Another said that is because of Australia’s “tight-arse mentality of not wanting to pay some agent a commission to sell” their property.
‘Not the agent’s fault’
Speaking to news.com.au, Mr Bresic said he understands that the housing crisis has definitely contributed to the growing animosity towards agents.
“You have got a housing affordability issue, and if someone is going to vent their frustrations on affordability, who are they going to vent that to? It is going to the government or agents,” he said.
“It is not the agent’s fault that prices are that high.”
Australia is smack bang in the middle of a housing crisis. The median house price in the country’s combined capital cities is now over $1 million and the median unit price has surpassed $700,000.
Mr Bresic argued that real estate agents should not be blamed for the housing crisis and said that if Aussies understood how hard agents work they would be kinder.
“I think it is pretty clear the industry is not trusted,” he said.
“We’ve always copped flak, but I think if people knew how hard agents work….”
The 47-year-old added that he finds most of the hate stems from people that just have not dealt with a good agent.
“It is usually people who do not know real estate agents that hold resentment or people who have had poor experiences,” he said.
‘Tall Poppy Syndrome’
The seasoned agent also pointed out that, in America, auctions aren’t really a thing, and he thinks that has contributed to the overall perception of agents.
“In America, you do not have an auction situation. You have an agent who works with you on the buying side, and you have an agent for the listing,” he explained.
Whereas in Australia, real estate agents act on behalf of sellers, not buyers, and Mr Bresic admitted that has caused problems.
“People have the sh*ts because of agents supposedly underquoting,” he said.
“The seller is paying the agent and it is the agent’s job to do the best job for the seller because that is who is paying them.”
The 47-year-old argued that he thinks Americans are more positive about real estate industry in general, because they have a more optimistic outlook overall.
“In Australia, there is tall poppy syndrome, but if you are an agent, you have to be public,” he said.
“I meet tech guys that are worth $50 million but no one knows who they are, but if you are an agent that makes $500,000 a year, you have to promote your listings and sales.”
Mr Bresic said the problem is that Aussies find self-promotion “cringe” and “distasteful”, but if you’re an agent, promoting yourself is just doing your job well.