Comments on: “Productizing” the Realtor mind http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html Turn On Thu, 09 Feb 2012 11:08:54 +0000 hourly 1 http://wordpress.org/?v= By: Bob http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6505 Bob Fri, 04 Dec 2009 14:45:34 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6505 "So it just makes sense that we equip REALTORS© with the proper tools for their clients" Apparently Reggie thinks we are ill-equipped now. “So it just makes sense that we equip REALTORS© with the proper tools for their clients”

Apparently Reggie thinks we are ill-equipped now.

]]> By: Gertie Cranker http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6504 Gertie Cranker Fri, 04 Dec 2009 13:07:33 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6504 Reggie the Realistic: AVMs are here. Get used to it. Consumers have. Of course many of the AVMs they currently access are flawed, but the public wants this information. Realtors shouldn't be put in the position for looking incompetent because the consumer has come in with bad information: Realtors should have a superior product which can produce superior information. If we work together to build that product, that's exactly what we'll have. Reggie the Realistic: AVMs are here. Get used to it. Consumers have. Of course many of the AVMs they currently access are flawed, but the public wants this information.

Realtors shouldn’t be put in the position for looking incompetent because the consumer has come in with bad information: Realtors should have a superior product which can produce superior information. If we work together to build that product, that’s exactly what we’ll have.

]]> By: Pamela VanDyken http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6503 Pamela VanDyken Fri, 04 Dec 2009 13:06:38 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6503 Generation Y is going to demand and expect this info and more,to be available to them on line. It is up to us to sharpen are skills all the time.Then we are worth are weight in Gold. Generation Y is going to demand and expect this info and more,to be available to them on line. It is up to us to sharpen are skills all the time.Then we are worth are weight in Gold.

]]> By: Sameer Punjani http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6500 Sameer Punjani Thu, 03 Dec 2009 20:15:49 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6500 The case-shiller index is the best method in real estate trends. I don't think this index provides any value because its based upon opinion and not fact. Who doesn't have an opinion in the housing market? Some thought the trend was going to continue upward. Option Arms were created allowing a broker to make 3% in the "back end" and 1% upfront with a 3 year prepay. Profits were made on opinions of so called "experts in the field." The bottom line is fact always outweighs opinion. The case-shiller index is the best method in real estate trends. I don’t think this index provides any value because its based upon opinion and not fact.

Who doesn’t have an opinion in the housing market?

Some thought the trend was going to continue upward. Option Arms were created allowing a broker to make 3% in the “back end” and 1% upfront with a 3 year prepay. Profits were made on opinions of so called “experts in the field.”

The bottom line is fact always outweighs opinion.

]]> By: Twitted by JohnDMcClung http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6495 Twitted by JohnDMcClung Thu, 03 Dec 2009 14:38:09 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6495 [...] This post was Twitted by JohnDMcClung [...] [...] This post was Twitted by JohnDMcClung [...]

]]> By: Reggie from RPR http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6484 Reggie from RPR Wed, 02 Dec 2009 21:18:58 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6484 The reality is that AVM's are abundant on the web and reviewed by homeowners daily. As a matter of fact, the use of AVM's has nearly doubled in the last year alone as a result of the mortgage crisis. And when homeowners gather these AVM's from multiple 3rd party sources they start running into questions and turn to their agent. So it just makes sense that we equip REALTORS© with the proper tools for their clients...enforcing their role as the knowledgeable source for interpreting this information. It's also important to understand the reason many AVM models vary so greatly is because they're calculated based on data that is often out-dated or incomplete. Which is why we're so excited about the prospect of creating this gold standard of automated valuation. The RVM will use real-time listing data to enhance the quality and reliability. The reality is that AVM’s are abundant on the web and reviewed by homeowners daily. As a matter of fact, the use of AVM’s has nearly doubled in the last year alone as a result of the mortgage crisis. And when homeowners gather these AVM’s from multiple 3rd party sources they start running into questions and turn to their agent. So it just makes sense that we equip REALTORS© with the proper tools for their clients…enforcing their role as the knowledgeable source for interpreting this information.

It’s also important to understand the reason many AVM models vary so greatly is because they’re calculated based on data that is often out-dated or incomplete. Which is why we’re so excited about the prospect of creating this gold standard of automated valuation. The RVM will use real-time listing data to enhance the quality and reliability.

]]> By: Keahi Pelayo http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6483 Keahi Pelayo Wed, 02 Dec 2009 21:07:17 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6483 Sounds like a huge undertaking. Aloha, Keahi Sounds like a huge undertaking.
Aloha,
Keahi

]]> By: Ryan Hinricher http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6482 Ryan Hinricher Wed, 02 Dec 2009 20:05:07 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6482 Brian, you pose many excellent questions. The opinion based value system by Realtors and appraisers seems to have officially been busted by the foreclosure tidal wave. Valuation seems less accurate than ever, and I'd be scared to death to trust this valuation to new agent doing BPO's. As Zillow and other algorithms improve they have to be better than a human opinion. A quick appraisal by 10 different people will yield 10 widely varying results all with various levels of human bias introduced. It's hard to compare real estate valuation to anything, but can you image if the car salesmen determined value and there was nothing standardized like Kelly Blue Book? I hope this all shakes out soon and some standardization takes place in this industry. Brian, you pose many excellent questions. The opinion based value system by Realtors and appraisers seems to have officially been busted by the foreclosure tidal wave. Valuation seems less accurate than ever, and I’d be scared to death to trust this valuation to new agent doing BPO’s.

As Zillow and other algorithms improve they have to be better than a human opinion. A quick appraisal by 10 different people will yield 10 widely varying results all with various levels of human bias introduced. It’s hard to compare real estate valuation to anything, but can you image if the car salesmen determined value and there was nothing standardized like Kelly Blue Book?

I hope this all shakes out soon and some standardization takes place in this industry.

]]> By: Jeff Allen http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6479 Jeff Allen Wed, 02 Dec 2009 17:23:48 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6479 Also, I love Point2 but I can't say that creating a new index metric that requires detailed explanation will be a home run. Also, I love Point2 but I can’t say that creating a new index metric that requires detailed explanation will be a home run.

]]> By: Jeff Allen http://1000wattconsulting.com/blog/2009/12/%e2%80%9cproductizing%e2%80%9d-the-realtor-mind.html/comment-page-1#comment-6478 Jeff Allen Wed, 02 Dec 2009 17:22:32 +0000 http://www.1000wattconsulting.com/?p=3323#comment-6478 I've always thought the data that's collected by places like Book-A-Showing and Showing Solutions (3rd party showing scheduling firms) could be really valuable. Potential buyers are asked to rank the attractiveness and pricing of the home after the view it. That could be incorporated nicely into the RVM tool and may be more reliable than realtor perceptions. I’ve always thought the data that’s collected by places like Book-A-Showing and Showing Solutions (3rd party showing scheduling firms) could be really valuable.

Potential buyers are asked to rank the attractiveness and pricing of the home after the view it. That could be incorporated nicely into the RVM tool and may be more reliable than realtor perceptions.

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