Optimize Yourself and Your Client for This Crazy Market

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  1. Great advice Nobu. A lot of folks complained about our previous market but this fast moving markets creates problems of its own. The market will be what it will but we always control how we react.

  2. Steve Mueller

    You did not explain how Realtors should answer the Zestimate Question. The best way to explain it is to look up Zillow on Wikipedia. Like a tax assessment the Zestimate has nothing to do with value. It’s all about selling advertising to realtors…..I have been an appraiser for 15 years and prior to that I was realtor for 15 years. I recently got may salesperson license again. The problem with realtors is that most have had very little formal training in property valuation. At most they got 3 hours pre-licensing and 3 hours fast start training. The rest of what they know about property valuation is mostly urban legend and a few CMAs a year.

    I’ll give you a quick time saving tip. There is no such animal as an as-is FHA contract. The property must meet FHA minimum property standards for FHA to insure the loan.

  3. The best part of your wonderful article is the suggestion that Brokers teach their agents how to use today’s technology. Many very good agents are very limited when it comes to using the tools that are available.

  4. Thanks for this article Nobu! As a newly licensed broker, it’s great to know that I’m already doing the right things. I made a commitment to build a strong business infrastructure with process. I’m trying to establish my “rhythm” so that I’m efficient…..any suggestions on what that “rhythm” should look like…..from a weekly perspective?

  5. Steve, I also have heard that many buyers/sellers set expectations based on Zillow’s “Zestimate” which causes great frustration for Agents trying to explain why their property value may not match what they find there. I like your explanation for how to handle this.

    ~Dayna at http://www.flipt.co

  6. You brought out some very good points in this article. I believe agents should stop trying to sell themselves to prospective buyers and sellers and pay more attention to the content of their messages. People want to know some about an agent’s credentials and a lot more of how an agent will help them.
    Steve is right that you did not explain the Zestimate questions. Steve is incorrect that most realtors do not know very much about property valuation. I, for one, analyze the market or subdivision data extensively when completing a CMA, despite whether it is for a seller or buyer. Most agents do many more than a ‘few’ CMA’s a year as well.
    Just saying.

  7. Thanks for the article. Technology is advancing so rapidly that a lot of highly productive agents simply will not take the time to lean something new. We do have to educate our prospects that Zillow and other such sites often have outdated and/or inaccurate information. We’ve got to walk them through the “why”. In addition to the facts of the CMA they still want to know that you care.