Comments on: To be or not to be compliant http://www.1000wattconsulting.com/blog/2008/02/to-be-or-not-to.html Turn On Fri, 19 Mar 2010 00:26:02 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Brian Columbus http://www.1000wattconsulting.com/blog/2008/02/to-be-or-not-to.html/comment-page-1#comment-3021 Brian Columbus Thu, 21 Feb 2008 14:06:25 +0000 http://wp.1000wattconsulting.com/2008/02/to-be-or-not-to.html#comment-3021 <p>Since I don't want to be accused of political plagiarism [<a href="http://abcnews.go.com/GMA/Vote2008/story?id=4310143&page=1" rel="nofollow">http://abcnews.go.com/GMA/Vote2008/story?id=4310143&page=1</a> ] I must site James Carville [<a href="http://en.wikipedia.org/wiki/It%27s_the_economy%2C_stupid" rel="nofollow">http://en.wikipedia.org/wiki/It%27s_the_economy%2C_stupid</a> ] when I say 'It's about the Consumer Stupid!' (Disclaimer: This remark is directed to the industry in general and not anyone specifically). I'm just saying that this notion of "owning listings as inventory" is such a fallacy. The reality is that this business is all about customer service (buying or selling). Mark my words...as this business evolves beyond 20th Century notions, "survivalist professionals" will finally understand that their clients are the market. They are the supply and the demand in this economy and the rest of us are just service providers, not principals! Surely this statement doesn't imply that Realtors, Lenders, Appraisers and other professionals don't provide a valuable service. It just means that we don't create market value and that buyers/sellers in fact drive the primary fundamentals of value. The historic period we are experiencing is a reckoning to the teachings of Adam Smith [ <a href="http://en.wikipedia.org/wiki/Adam_smith" rel="nofollow">http://en.wikipedia.org/wiki/Adam_smith</a> ] from nearly 250 years ago. However, we are charged to protect, preserve and enhance the property of our clients and therefore enrich their lives. It's about people, relationships, integrity, loyalty. We owe it to our clients to Serve them and their interests FIRST. </p> Since I don't want to be accused of political plagiarism [http://abcnews.go.com/GMA/Vote2008/story?id=4310143&page=1 ] I must site James Carville [http://en.wikipedia.org/wiki/It%27s_the_economy%2C_stupid ] when I say 'It's about the Consumer Stupid!' (Disclaimer: This remark is directed to the industry in general and not anyone specifically). I'm just saying that this notion of "owning listings as inventory" is such a fallacy. The reality is that this business is all about customer service (buying or selling). Mark my words…as this business evolves beyond 20th Century notions, "survivalist professionals" will finally understand that their clients are the market. They are the supply and the demand in this economy and the rest of us are just service providers, not principals! Surely this statement doesn't imply that Realtors, Lenders, Appraisers and other professionals don't provide a valuable service. It just means that we don't create market value and that buyers/sellers in fact drive the primary fundamentals of value. The historic period we are experiencing is a reckoning to the teachings of Adam Smith [ http://en.wikipedia.org/wiki/Adam_smith ] from nearly 250 years ago. However, we are charged to protect, preserve and enhance the property of our clients and therefore enrich their lives. It's about people, relationships, integrity, loyalty. We owe it to our clients to Serve them and their interests FIRST.

]]> By: Tom Townsend http://www.1000wattconsulting.com/blog/2008/02/to-be-or-not-to.html/comment-page-1#comment-3020 Tom Townsend Wed, 20 Feb 2008 13:15:01 +0000 http://wp.1000wattconsulting.com/2008/02/to-be-or-not-to.html#comment-3020 <p>Marc Great Post, as you know I responded to this with my own additional information with regards to the MLS IDX/RETS issues with regards to Brokers and NAR, for others interested it is posted here: <a href="http://greatertampabayrealestate.com/blog/helpful-information/mls-compliance/" rel="nofollow">http://greatertampabayrealestate.com/blog/helpful-information/mls-compliance/</a> I have recently changed/modified the Inman link for those that do not have the pay access. It kinds of peeves me that Inman does this. They would gain way more by opening up their articles than hiding them. </p> Marc Great Post, as you know I responded to this with my own additional information with regards to the MLS IDX/RETS issues with regards to Brokers and NAR, for others interested it is posted here: http://greatertampabayrealestate.com/blog/helpful-information/mls-compliance/ I have recently changed/modified the Inman link for those that do not have the pay access. It kinds of peeves me that Inman does this. They would gain way more by opening up their articles than hiding them.

]]> By: Marc Davison http://www.1000wattconsulting.com/blog/2008/02/to-be-or-not-to.html/comment-page-1#comment-3019 Marc Davison Wed, 20 Feb 2008 11:23:21 +0000 http://wp.1000wattconsulting.com/2008/02/to-be-or-not-to.html#comment-3019 <p>I hear this and I sympathize. </p> <p>I feel strongly that it is incumbent upon the system that carries your listings out to the Trulia's of the world to build NSA like tracking technology and follow every footprint of every listing and check it for accuracy. This, rather than blocking the data, should have been addressed years ago. </p> <p>But that home cannot be sold without you, the listing agent being tied to that sale. So in the seller’s perception of their needs, they don't care whether their home is found on Coldwell Banker, Keller Williams or for Peking.com. All they care about is that it's out there, posted, viewed and hopefully offers will ensue. </p> <p>Controversially, is my contention that real estate practitioners stop thinking in terms of "my listing" and start thinking in terms of "my client". </p> <p>An agents/brokers ownership of a listing is so short lived. Weeks maybe months. But your ownership of the client and ownership of that relationship could span a lifetime. It could span many listings. </p> <p>In the true spirit of representation of that client, you then take ownership of the greater need - the need to get out of that listing. Is it not possible that owning that agenda excellerates you to a more important roll? </p> <p>When you own a listing, you take ownership of the very thing your client doesn't even want anymore. Could it be that subconsciously, as a result, when they shed that no longer wanted possession, they shed you? </p> <p>Taking ownership of forward motion places you in the drivers seat of their future desires. </p> <p>In my mind, there is a world of ideas there to build a brand around, to build a marketing campaign around </p> <p>Collect clients. Own clients. Own their dreams. That's where the value is!!!</p> I hear this and I sympathize.

I feel strongly that it is incumbent upon the system that carries your listings out to the Trulia's of the world to build NSA like tracking technology and follow every footprint of every listing and check it for accuracy. This, rather than blocking the data, should have been addressed years ago.

But that home cannot be sold without you, the listing agent being tied to that sale. So in the seller’s perception of their needs, they don't care whether their home is found on Coldwell Banker, Keller Williams or for Peking.com. All they care about is that it's out there, posted, viewed and hopefully offers will ensue.

Controversially, is my contention that real estate practitioners stop thinking in terms of "my listing" and start thinking in terms of "my client".

An agents/brokers ownership of a listing is so short lived. Weeks maybe months. But your ownership of the client and ownership of that relationship could span a lifetime. It could span many listings.

In the true spirit of representation of that client, you then take ownership of the greater need – the need to get out of that listing. Is it not possible that owning that agenda excellerates you to a more important roll?

When you own a listing, you take ownership of the very thing your client doesn't even want anymore. Could it be that subconsciously, as a result, when they shed that no longer wanted possession, they shed you?

Taking ownership of forward motion places you in the drivers seat of their future desires.

In my mind, there is a world of ideas there to build a brand around, to build a marketing campaign around

Collect clients. Own clients. Own their dreams. That's where the value is!!!

]]> By: AndrewK http://www.1000wattconsulting.com/blog/2008/02/to-be-or-not-to.html/comment-page-1#comment-3018 AndrewK Wed, 20 Feb 2008 11:02:17 +0000 http://wp.1000wattconsulting.com/2008/02/to-be-or-not-to.html#comment-3018 <p> Wow this article brings up many issues with the real estate market. As an agent in a small market in Texas, our game is completely backwards to most of the country. Here, the one with the most listings does the best. Our listings are moving fast and at appreciating prices. So as a listing agent its very important to send out listing info to as many sources as possible. And like you said, the key is knowing where they go and how they are viewed. <br /> I recently checked trulia to see what my listings were doing on their site. Much to my surprise I found my listings under the name of some other agent in my office AND the address was "not disclosed." Needless to say I was a little upset. After a little digging with trulia and coldwellbanker.com, I quickly realized that the problem was that our coldwellbanker.com listings were not being sent properly. Then, after discovering the issue and being told by trulia what the solution is, coldwellbanker.com informed me that it was a trulia issue! What a world. </p> Wow this article brings up many issues with the real estate market. As an agent in a small market in Texas, our game is completely backwards to most of the country. Here, the one with the most listings does the best. Our listings are moving fast and at appreciating prices. So as a listing agent its very important to send out listing info to as many sources as possible. And like you said, the key is knowing where they go and how they are viewed.
I recently checked trulia to see what my listings were doing on their site. Much to my surprise I found my listings under the name of some other agent in my office AND the address was "not disclosed." Needless to say I was a little upset. After a little digging with trulia and coldwellbanker.com, I quickly realized that the problem was that our coldwellbanker.com listings were not being sent properly. Then, after discovering the issue and being told by trulia what the solution is, coldwellbanker.com informed me that it was a trulia issue! What a world.

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