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Ethical Concerns

POST ON 18.05.16 IN ETHICS
In the Real Estate Industry

Real estate consumers are losing millions of dollars due to the lack of ethics in real estate. It is a national disgrace in both Australia & New Zealand. And it is time it stopped.

We believe that most consumers are NOT informed of the dangers involved with selling or buying real estate. Further, we believe that consumers are being deliberately and massively misinformed.
Thousands of people are being deceived and misled, and until now, very little has been done to stop it.

At The Jenman Group we are committed
to helping and protecting
Australasian real estate consumers.

It is our aim to improve the real estate industry by creating methods of operation based upon the highest standards of ETHICS IN REAL ESTATE. We do not intend to give 'lip-service' to ethics, nor to say one thing publicly and do another thing privately. Together with many agents, we are deeply committed to the welfare of consumers. Everything we say and do has one motive at its core – to do whatever is best for consumers. This is part of our
mission.

mar_dot_1SCANDAL
The current lack of ethics in real estate is one of our greatest national scandals. It is hard for anyone who is not involved in the real estate industry to comprehend the magnitude of what goes on 'behind the scenes'. Thousands of consumers are being ripped-off. In these days of high consumer protection it is amazing that the ethical crisis in the real estate industry is scarcely mentioned.

mar_dot_1THREE REASONS
In our opinion, there are three reasons why consumer protection is so poor in real estate:

Real Estate is a big money business. While 'cleaning up' the industry would be of enormous benefit to consumers, it would not be in the best interests of many agents and other businesses tied to the real estate industry.
The Real Estate Industry is 'controlled' by real estate agents. When governments want to know how to improve the real estate industry they ask people who represent real estate agents. They rarely ask people who represent consumers. The real estate industry not only deceives consumers, it also deceives governments.
Consumers lack knowledge. For many people, buying or selling a home is a once or twice in a lifetime experience. Consumers must rely upon agents to give them advice. This costs them thousands of dollars and much heartache. Also, many consumers never realise how much they are losing. They do not know what goes on 'behind the scenes'. One media researcher expressed it well when she said,
"People are being exploited in ways they wouldn't dream of."
mar_dot_1CONSUMER LOSSES
We believe consumers lose an average of $10,000 when they sell their family home. Some people lose nothing, but others lose hundreds of thousands of dollars. Usually, the more expensive the home, the greater the loss. However, consumers should be protected from losses of any size. We are especially concerned with protecting consumers who can least afford to lose money – the poor and the elderly. The widespread exploitation of these people by many agents has made us determined to improve the standards of ethics in real estate.

mar_dot_1BRIEF EXAMPLES of LOSSES
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Homesellers.
The consumers who suffer the worst financial losses are generally the homesellers. We have ethical concerns about the following methods used by many real estate agents:

dink_1Up-front expenses.
Consumers are often duped into paying money to agents before their homes are sold. If their home does not sell, or it sells for less than the consumer was led to believe, this money, which often amounts to thousands of dollars, is lost.