Menu
TwitterRssFacebook
More Links
Jim Klinge
Jim's Bio

Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Carlsbad
(760) 434-5000

Carmel Valley
(858) 560-7700
jim@jimklinge.com


Category Archive: ‘Realtor Training’

Realtor Rating System

 Consumers love to rate the products they’ve bought, the movies they’ve watched, the restaurants they’ve eaten in, even the doctors they’ve visited.

realtor logoThe National Association of Realtors is testing a program that allows homebuyers and sellers to review the real estate agents they’ve worked with. Those reviews would be used internally by companies and could be available to the public as well.

The trade group is piloting a new agent rating initiative called the Realtor Excellence Program, and is hoping individual companies will adopt the program as a way to increase professionalism in the industry while lessening problems that can lead to litigation.

“I’m general counsel,” said Laurie Janik, who is heading up the initiative for the national group. “I’m looking at reducing liability. I want happy sellers and happy buyers.

“Right now we measure agent performance based on how many deals they did,” she added. “But was (the transaction) a train wreck?”

Online reviews aren’t anything new, and consumers have come to read them with more than a grain of salt.

Some online review sites, particularly those with negative opining on service providers like hotels and restaurants, have come under fire because readers are never sure whether a truly dissatisfied customer or just a jealous competitor is penning them.

The Realtors’ organization and Quality Service Certification Inc., the third-party technology company handling the surveys, thinks it has found a way to prevent any “gaming” of the system.

If a realty firm, or an individual agent, decides to participate, QSC will receive all information on closed sales, including contact information of the buyers and sellers.

QSC will then email or mail those customers a survey to fill out that includes 34 data points on topics like the agent’s negotiation skills, how long it took to sell a property and follow-up communication.

A realty company’s executives can then go into a password-protected online system to view returned surveys and see how the company, individual offices and individual agents are performing.

“That’s been a really flawed metric for excellence — how much business do you do,” said Larry Romito, QSC’s chairman and CEO, who recommends that realty firms require all agents to participate.  “We really need a balance of how much business do you do and how do you do it.”

Realty agents, Romito said, will improve the service they offer to customers because they know they’re being reviewed on so many metrics.

In addition to the internal system, agents can opt in to have their personal ratings performance put online for the public at QSC’s consumer website, ratedagent.com. While agents can decide what types of information they want displayed, it’s then all or nothing.

In other words, if agents choose to have customer comments displayed, all of them will be displayed, both good and bad.

Janik thinks the timing of this kind of review process is overdue but she understands the hesitancy of agents to have their reviews made public.

“For many agents, public ratings are like the third rail,” Janik said. “I think agents are scared to death of being rated.”

http://articles.chicagotribune.com/2013-03-15/classified/ct-mre-0317-podmolik-homefront-20130315_1_realtor-group-new-agent-real-estate-agents

Posted by on Mar 24, 2013 in Realtor Training, Realtors Talking Shop | 2 comments

Third-Party Advertising

This long-time local broker is fed up with the 3rd-party real estate websites using our listings to make money.  It must be big money too, because there are now over 900 websites that advertise properties.

These websites (Zillow, Trulia, Realtor.com, etc.) are selling the advertising space surrounding each listing to other agents, making them look like the listing agent.

But does anyone frequent them?  Maybe Zillow or realtor.com?

This doesn’t affect Redfin or Zip, they are brokers who actually sell real estate.  He is willing to cooperate in our IDX system which allows each agent to distribute the properties on the MLS.

But it’s another sign of how chippy it is getting - our low-inventory environment is ripe for changes on how real estate is sold:

Posted by on Jan 26, 2012 in Listing Agent Practices, Realtor Training, Realtors Talking Shop | 31 comments

Tango Photography

Hat tip to SM for sending this along, from curbed.com:

A few weeks ago, we were absolutely convinced that we had found the world’s sorriest listing photo.

But lo! And behold! Truth that was not, for today a worthy contender surfaces in a listing photo for a house in Chamblee, Ga. that’s asking $200K. Three beds, 2.5 baths—who cares! The real enticement is the topless homeowner or listing agent snapping photos of the bathroom:

Posted by on Jul 2, 2011 in Realtor Training | 8 comments

Attention Realtors

One more note on the nomination – Inman News is the sponsor, which publishes an e-newsletter sent twice a day to agents around the country.  Their mission is to help agents, and while I’m a daily reader, I don’t cover realtor-centric topics here.  I figure that they have it down pat.

But with their attention possibly sending a few new readers this way who are realtors, I’d like to take the opportunity to give you something to think about – and comment if you’d like.

Running a real estate blog leaves me wide open for blasts from people who figure I’m like all the other realtors, so they take their shots.  A couple of days ago this post-and-video was re-published on www.calculatedriskblog.com, which drove a few newcomers my way.  Here is a comment left by Robert:

(I worked for two years as a full-time marketing assistant for one of the top 20 agents in Chicago.)

You don’t provide us with an address so we can’t determine whether this property was overpriced at $3.2M. I’ll go out on a limb and guess that was the case with this exceptionally bland joint.

As a result, this post comes across as whining, Mr. Mercedes. Most people have been priced completely out of the market by the bubble, which needs to deflate. In 2010 realtors who prop up prices are the scammers.

On your youtube page you complain that this sort of behavior undermines public confidence in realtors. There is no public confidence in realtors, precisely because you refuse to recognize a)the bubble b)your near-irrelevance in the Internet age.

My girlfriend recently made an offer on a house that was in line with local rents, in line with fiscal responsibility (and she makes 50% more than the zip’s median household), in line with the tax assessor’s value. Her buyer’s agent laughed (literally) at her offer. He declined to write the offer up but agreed to pass it on verbally. He got fired. The listing agent failed to return a phone call for two weeks, and finally had someone else call us back. Result? We looked up the owner in the online tax records and sent him the offer directly.

Realtors are superfluous from a buyer’s perspective. As of now, all the stupid buyers have been squeezed through the system. The rest of us know the only thing we need you for is to open the lockbox. That’s worth $20 I suppose.

My point is that only an idiot would buy at market value at this point. If you’re not an idiot, you’re going to find your way around a system that is currently set up to scam you.

If realtors want to regain some sense of integrity, how about starting with some honesty as to where the market is going. And how about changing your fee schedules to reflect your actual social function in the year 2010: taking photos, uploading listings, opening lockboxes, babysitting inspections, and filing paperwork.

The bank is not being scammed. The bank is a scam. Let me wipe away my tears for Bank of America. Oh wait… I have none.

The neighbors, I have more sympathy for. Not everyone was after unearned bubble cash, and owners have suffered large losses. But owners need to understand they were scammed out of their hard-earned money when they bought the overvalued house, not when a legit buyer makes an offer that reflects reality.

I think there are a lot of consumers that are fed up with the realtor community, and are increasingly frustrated that they don’t see much improvement.  If you are a realtor wondering how you can better serve the consumer, re-read the above.  Then go start a blog and use video to share your expertise – please!

P.S. The video above put the spotlight on a very shady short-sale deal, where the agent deliberately did not expose the property to the open market.  As a result of the exposure on Calculated Risk, I received two phone calls from Bank of America’s upper management. They were very interested in the details, so I sent them my entire case.

Posted by on Jun 18, 2010 in Jim TV, Realtor Training | 40 comments

Kayla’s Crash Course

Someday, I’ll stop selling real estate/blogging, and it would be a shame if nobody took it over.

Our eldest child survived freshman year of college, and is back home for the summer.  She doesn’t want to be a realtor (so far), but just in case her future college degree doesn’t land her the dream job, maybe she’ll have a little something to fall back on.

Over the next three months I’m going to give her a crash course in being a realtor.

At the end of summer either she’ll love the thought of being a realtor, and quit college to get started, or she’ll hate it and be motivated to excel throughout the rest of her college days.

Not sure if you folks will get much out of it, but feel free to tag along:

Posted by on Jun 11, 2010 in Realtor Training | 13 comments

MLS Full Transparency?

(bold added)

CALREDD™ LAUNCHES NEW WEB SITE

calREDD™, a service provided by CALMLS, the statewide Multiple Listing Service, launched its new Web site today at www.calredd.com. The site provides information for REALTORS® about calREDD™ products, services, rules, policies, and much more. The calREDD™ site also includes product demos and videos, a calendar of upcoming events and product demonstrations, a Frequently Asked Questions section, and dedicated informational sections for brokers and local REALTOR® associations

“For many years it has been the vision of California REALTORS® to have one database to input and search all California real property, regardless of property type, location, or status,” said Mike Silvas, CALMLS chairman. “The calREDD™ Web site presents us with a one-stop portal to introduce members to this critical initiative.”

from the FAQs:

Q: What is the vision for calREDD™?

A: To provide California REALTORS® with one complete and innovative property information and MLS solution so that California REALTORS® are the source for all California real property information.

 
Q: What are some of the key advantages of calREDD™?

A: The calREDD™ system is anticipated to create much-needed efficiencies, increased security, and new technology opportunities through the creation of one common database of California real property information.

  • Control of the MLS stays within the hands of California REALTORS®.
  • Every participating local associaton of REALTORS® and MLS (collectively “participating AORs/MLSs”) will have voting rights and the board of directors of C.A.R. retain ultimate control of calREDD™.
  • The 17 initial voting members of the California MLS (calREDD™) board of directors are a diverse group of practicing REALTORS® (by geography, firm affiliation, firm size, and practice).
  • The scale and reputation of C.A.R. creates unique technology partnership opportunities.

 

Q: Will calREDD™ offer a public Web site?

A: It is anticipated that a stand-alone consumer Web site will be necessary to compete with the existing consumer Web sites. MLS consumer Web sites traditionally provide more accurate information and therefore are more attractive to the consumer. No decision on when to create a consumer Web site and how it will function will be made without further study and input from C.A.R. members. However, calREDD™ will continue to feed listings, with listing broker consent, to marketing sites that are consistent with REALTOR® interests.

 
Q: Will the calREDD™ real property database be licensed to third-party aggregators?

A: C.A.R. and calREDD™ firmly respect the right of individual brokers to decide whether or not to syndicate their listings to third-party aggregation sites. For those who elect to syndicate their listings, calREDD™ will offer services to facilitate that process. For example, most California brokers and agents direct their MLS to feed listings to REALTOR.com®, and calREDD™ anticipates doing the same.

 

Posted by on Feb 25, 2009 in Realtor Training | 8 comments

RE License Fees Double

The California DRE announced that they are doubling the cost of getting a real estate license.

A salesperson license went from $120 to $245, and a broker’s license will now cost you $300, instead of $165.

Are you renewing late?  Oh boy, the late fee went from $180 to $367 for a salesperson’s license, and from $248 to $450 for a broker.

The change is probably due to the state budget, but it appears the realtor population is dwindling. 

Here are the number of license tests taken in December:

Type of Test 2004 2005 2006 2007 2008
Broker 1,628 2,277 1,636 1,148 595
Salesperson 11,440 13,212 8,941 1,315 1,085
Totals 13,068 15,489 10,577 2,463 1,680

An 89% drop in license tests between Decmeber 2005 and 2008!

The total licensee population has finally started to decline too, although when you’ve seen where we’ve been, you can’t help but think that we have a ways to go:

Month # of licensees
Dec ’95 329,254
Dec ’96 313,776
Dec ’97 300,751
Dec ’98 295,433
Dec ’99 303,289
Dec ’00 309,126
Dec ’01 315,282
Dec ’02 355,940
Dec ’03 367,779
Dec ’04 418,044
Dec ’05 476,244
Dec ’06 521,330
Dec ’07 548,959
Dec ’08 532,531

Posted by on Feb 15, 2009 in Realtor Training | 36 comments