Harcourts Victoria CEO Adam Fiteni insists real estate agents have abandoned a fundamental rule of hospitality: viewing transactions as the beginning of a relationship rather than its conclusion. This oversight is now hurting businesses in Victoria’s evolving market.
With a background in hospitality, Fiteni draws a comparison between restaurants and real estate. A diner’s first experience extends beyond the food—it includes how they feel during their visit. The same principle applies to buyers and sellers, particularly in challenging circumstances.
“One is transactional, and one is not,” he said at the Harcourts network’s HX conference. The distinction lies in whether an agent treats a client as a one-time sale or as a long-term connection. Too often, agents prioritize the immediate deal, the “catch and kill” method, over supporting relationships that could generate future opportunities.
This approach worked during peak market conditions, but with fewer new inquiries now, agents who cultivated trust years ago are benefiting. Those who neglected relationship-building risk falling behind.
Fiteni illustrates the point with a restaurant scenario. Two couples sit at the same poor table in a busy restaurant. In one case, the waiter leaves after delivering menus. In the other, staff acknowledge the issue, offer alternatives, and check back. The table remains the same, but the experience differs, and that is what clients remember.
He applies this to real estate: a vendor facing financial strain or a buyer frustrated after multiple failed inspections will recall how they were treated. “There’s a reason behind it,” he said. “The lesson is that people remember how they were treated, particularly when something does not go according to plan.”
In hospitality, the aim is not just serving a meal but ensuring guests return. The same applies to real estate. An agent may assist someone in buying or selling only once every few years, but that single interaction could lead to decades of referrals and future listings.
Buyers are frequently overlooked, a mistake Fiteni warns agents cannot afford. Too often, buyer engagement is limited to collecting contact details at open homes or sending automated alerts. Meaningful buyer interaction involves understanding budgets, preferences, and maintaining regular contact, even if the sale does not finalize with that agent.
“A buyer will buy from anybody,” Adam said. “Because they just want the property.” However, an agent who consistently provides useful information, arranges inspections and takes a genuine interest in helping someone find a home can still become that person’s preferred agent when they eventually decide to sell.
