PROPERTY AGENT REVIEW SYSTEM - DO ONLINE REVIEWS MATTER?

Abstract

A property agent review system is a useful tool that allows customers to gather feedback from past clients of property agents via an online review platform. It is pertinent to have a property agent review system because property buyers and sellers often do not have the relevant experience to transact alone, and need to find an agent with the right experience. A review system will provide a performance assessment of the agent based on past customer interactions. In order to comprehend the motivation of consumers for using a review system in preference to other sources of information such as family or friend recommendations, this paper compares the options available and studies the impact of agent ratings on consumer decision-making in a property agent review system. Survey questionnaires were distributed across Singapore to gather feedback from the populace for data analysis. From the findings, most respondents find a property agent review system useful in assisting them in the selection of a real estate agent. Agents with high review scores are perceived to be more knowledgeable about the real estate market and are equipped with the essential skills in assisting the principal in the property transaction. Moreover, agent review score does not have any impact on the commissions earned by the property agent.