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(English) Real Estate Experts Will Always Be In Demand

(English) Real Estate Experts Will Always Be In Demand

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5 comentarios
  1. Mr. Krispy
    Mr. Krispy Dice:

    So I downloaded the pdf Unlocking the Secrets of Real Estate’s New Market Reality, and read it. It’s an 18 page infomercial that in Doctor speak tells us that we are sick and then offers us the cure….buy KEEPING CURRENT MATTERS! Now I can’t blame KGM for self promotion, it’s necessary not only to stay in business, but to thrive in business. However I think it important to note that while KCM does an excellent job of providing visual aides to Real Estate Agents, the information is not necessarily accurate at the local level. We don’t buy and sell real estate in the big picture, we buy or sell a specific house in a specific neighborhood, in a specific town. Our value as real estate agents, comes from knowing our own unique market, and all the things happening within it. For instance, what was the appreciation rate for SF homes in a specific neighborhood in YOUR town, USA last year? What is the current inventory of homes for sale in your area? Is the inventory increasing or decreasing? What does that mean? What is the average time on market? Is it increasing or decreasing? What is the average sale price in your market? Is it increasing or decreasing? What is the average sale price compared to original listing price, or last listing price? Are new construction homes increasing or decreasing in your market? How many new homes were constructed in your neighborhood, and what is their average square footage? Is that increasing or decreasing? What are the typical amenities going into new homes in your area today? Are there any new influences in your market that will increase or decrease demand for homes? Have there been any changes in governmental rules/regulations that will affect your market area? What is the breakdown of that information demographically? Are baby boomers buying or selling in your area? What are the Millenials doing? Very few real estate agents can answer more than a couple of those questions because it takes a lot of time and effort to come up with that local information. I know of only one company that breaks down mountains of data from the MLS, county records, census records, etc. on a quarterly basis into usable information that truly tells what is going on in real estate in detail, within subsets of market areas. Unfortunately that company only provides that information to members of one specific MLS, and at a significant fee (but well worth every penny). When an agent knows that kind of information, and can contextualize it, they are truly the expert in their area who can help buyers/sellers make sound decisions. Present that information with the use of visual aides, and you will be successful beyond your dreams.

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    • Steve Harney
      Steve Harney Dice:

      Mr. Krispy –

      The only thing you got out of the 18 pages was the KCM promotion? Really???

      P.S. We coach every KCM member to use their MLS data to establish what is taken place in their local market. In case you didn’t realize it, this is a national blog.

      P.S.S. Where do you suggest agents get hyper-local data on Millennials and Baby Boomers? I would love to see that data.

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      • Mr. Krispy
        Mr. Krispy Dice:

        Mr. Harney, having subscribed to your service in the past, and followed this blog for several years, I am well aware that this is a National blog, and that your visuals/data are national in scope. My point was that it is far more important to use local data than national data if you want to establish yourself as an expert/specialist in your area. If you re-read my post you will see that I was not attacking the information that you provide. But the point is that a person needs to work with local data. During the years when the real estate values throughout most of the country were in a tail spin, my local market was still increasing in value, and never experienced value declines. You can bet that local agents here had a very different story to tell than if they would have only relied upon national data.
        I’m sure you are aware that you can get detailed demographics from census data. Is the average age for a defined area increasing or decreasing? An expert agent would know why that is changing, and would be able to incorporate that info into their presentation/analysis/discussion with their buyers/sellers. That data will help you determine what the various groups like Baby Boomers, Millenials, etc. are doing in the market. As an example, in the Phoenix market, a larger number (than what is traditionally normal) of Millenials are sitting on the sidelines, deciding to live with parents, or rent rather than buy their first home. If you are advising an investor about the prospects of buying rentals, this information is invaluable.

        KCM provides excellent materials for a national overview, as well as sales aides which have high value for presentations/discussions. But if a person is trying to establish themselves as an expert specialist rather than a generalist in their area (which was the premise for the blog) they MUST have a firm grasp on local data.

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        • Steve Harney
          Steve Harney Dice:

          As I mentioned in my original reply, we strongly urge our members to use local data in their presentations. Having the national, regional and state information which we supply, allows an agent to intelligently discuss what the consumer sees on CNBC, hears on Bloomberg radio and reads in the Wall Street Journal. Then, and only then, can an agent simply and effectively explain how that news does (or doesn’t) apply to the local market.

          Obviously, you don’t want anyone to know who you actually are. I respect that. However, would you mind sharing in which market you do your business?

          Also you didn’t answer my first question: Did you really see our eGuide as nothing more than a promotional piece for KCM? You found nothing of value in the other 17 1/2 pages?

          Just curious as we are very proud of the hard work we put into developing that eGuide.

          Responder

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