I recently read your content about sellers not being under pressure to sell, and I partly agree. We cannot entirely blame landlords for their attitude towards brokers, as
our own practices contribute to the issue. Why does a seller keep a property listed on your platform for years? Simply because listing is free.
Similarly,
buyers often take brokers for granted, even going so far as to ride in our cars for property inspections without contributing to fuel costs. The reason? Our services are free, and our lack of emphasis on the value of our time makes it challenging for others to recognize it.
I strongly believe that we need to elevate the real estate profession by
introducing training,
membership (self-regulation), and, most importantly,
licensing. In Kampala alone, there are over a million brokers.
Implementing a listing fee, deductible from the commission, would prevent landlords from indiscriminately listing their properties everywhere. This system ensures that professional and serious brokers attract equally serious sellers, and only committed buyers would engage brokers, knowing that their time is valuable.
By dealing exclusively with licensed brokers, we can eliminate unprofessional individuals and create a more streamlined process. This approach would significantly reduce incidents like the one with the landlady you mentioned, who might not be well-acquainted with the professional standards expected.
Consider the respect we afford to people in other professions like lawyers, doctors, and engineers. It is largely based on the respect these professionals give themselves. To illustrate, a friend of mine put up a "For Sale" sign on his house, attracting interested parties. Despite this, many brokers, mainly motorcycle taxi riders, contacted him claiming to have buyers.
Eventually, he closed a deal with someone who saw the sign. However, he received numerous calls from brokers he had never met, demanding payment and even threatening his life. These are the kinds of brokers your lady acquaintance is referring to. Removing them from the equation is crucial if we want to create a cleaner and more professional environment in the real estate industry.