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Reengineering the Real Estate Agency   Message List  
Reply | Forward Message #433 of 442 |
Re: Reengineering the Real Estate Agency

Somewhat of a combination of what I've read on this post...

1) Pay for an independant dollar value assessment of your house.

2) Do a little research on your own on houses that have sold in your
area. How fast and how much?

3) Go to 5 REA's. Show them your research and ask for their offer,
testimonials, references and services. Make sure they know that you
are seeing 4 other REA's and have a 6th option to sell yourself.

4)Pick the best!

=|JRM: It's important to remember that REA's are buy-side businesses. In other
words, it's how well they procure their raw materials that's the primary
determinate of their success -- not how well they dispose of them.

Of course, this is just a fancy way of saying that the success of a REA is
primarily determined by how good a job they do of securing listings. If a REA
can secure a big-enough book of listings (ideally on a sole-agency basis) it
will make money. These listings will sell sooner or later, after all.

Because the RE market is relatively efficient, REA's probably do more to
generate sales by talking-down vendors than they do by talking-up purchasers.

Of course, when vendors have conflicting goals (as per a previous post), and
when purchasers have more degrees of freedom it's easy to see why this is both
possible and necessary!|=



Thu Feb 21, 2008 11:29 am

bryanmcn2001
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Message #433 of 442 |
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A few years ago a client of ours was thinking of purchasing a real estate agency (he didn't). He asked me to detail some ideas about what we might do to this...
Justin Roff-Marsh
justinroffmarsh
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Feb 19, 2008
1:21 am

Justin From the perspective of someone who has dealt with Real Estate agents a lot, the reason we distrust them is that they are given 5-7% of the selling...
Bryan McNamara
bryanmcn2001
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Feb 19, 2008
3:11 am

I think that the commercialisation breakthrough would need to centre around reducing or removing the uncertainties for the vendor. This would seem to be prime...
Mike Smith
MikeS@...
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Feb 19, 2008
10:59 pm

This is an interesting discussion at a convenient moment, as I am about to sell my house using an REA. That in itself is not very interesting and certainly not...
mr_delete_nl
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Feb 21, 2008
1:09 am

Success is often found when goals are aligned. By this I mean aligning your goals to the REA's. I think you are correct in deducing that a fast sale is of more...
Mike Smith
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Feb 21, 2008
1:42 am

If you review the article, the issue of the property not selling for a higher price and REA pushing for deal that may not be in the best interest of the...
mark woeppel
mwoeppel
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Feb 21, 2008
3:47 am

Somewhat of a combination of what I've read on this post... 1) Pay for an independant dollar value assessment of your house. 2) Do a little research on your...
Bryan McNamara
bryanmcn2001
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Feb 22, 2008
12:55 am
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