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Technology IS "All That" but It is NOT Everything!

By
Real Estate Agent with Long and Foster REALTORS (703) 470-4545 0225085927

businesswoman with contractMy good friend and "soul sister," Jennifer Allan-Hagedorn recently wrote a post entitled Aspiring Real Estate Agents - NO!  You Do NOT Need a Website (yet)! and it brought back a memory from a recent transaction in which I was involved.

The property was a bargain-basement priced condo and as expected, multiple offers came in.  I was thrilled - THRILLED - to receive an offer from an agent who had a dandy looking email signature, was clearly all about social media and who sent me an offer - get this - via DropBox.  

My heart actually raced a little...the future had arrived!

Sadly, when I opened the offer, I was very disappointed.  Not only was his offer the 10th lowest of the 10 offers received - okay, okay, I know that could very well be his client, but hello, the property was underpriced as it was, he KNEW there were already multiple offers and well, no one else came in under the already-low list price, so I had to wonder if he sufficiently explained (or understood) the comps to his client - but the offer was also incomplete, despite very explicit instructions in the listing.  Our local MLS allows for documents to be downloaded from each listing, which is where all of the appropriate addenda were located.

He didn't follow the instructions, several addenda were missing and the pages he did submit were incomplete.

Wow, what a letdown.

When I read Jennifer's blog post about aspiring agents having a lot to learn - becoming familiar with their market, mastering contracts, disclosures, the MLS, how the process works from showing to offer to contract to closing, before worrying about a website - I found myself shaking my head vigorously!  YES!  Everything she had to say was so very, very true. 

It's not about the flash, the latest technology, the coolest phone or the latest tablet.  And it's not about how many friends you have on how many social media sites. 

It is about sheer competence, which includes knowledge of the market, of the contract and the process. 

Add the flash to that and you've got a winning combination, but competence has to come first.  Otherwise, the flash will turn into "flash in a pan." 

 

 Technology IS "All That" but It is NOT Everything!

Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Susan, well said! All the technology in the world cannot compensate for competence.

Oct 08, 2011 01:29 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Fantastic post as i see this is as well. Certain agencies who recruit recruit recruit new agents and send them into the world with tons of technology but none of the basics of real estate sales. You cant run until you walk... and you need to learn the basics such as "Agency" who you represent, what your duties are, general people skills, how to fill in a purchase agreement and what addendums/addenda are and how to fill them out. Thanks for the great topic

Oct 08, 2011 02:42 AM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
Good sobering point about our business plus other business fields, too.
Oct 08, 2011 04:10 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

Just because someone learned how to use a piece of technology doesn't mean that they Should use it. In this case, it would be far more beneficial for that person to understand comps and write a complete offer before using Dropbox.

Oct 08, 2011 05:51 AM
Coral Gundlach
Compass - Arlington, VA
Real Lives. Not Just Real Estate.

An offer via DropBox - Very cool.  A lowball among multiples?  Hack move, waste of everyone's time.  Great post!

Oct 08, 2011 06:03 AM
Carl Pruitt
FHA Loan Advice - Buford, GA
http://FHALoanAdvice.com

I completely agree that competence needs to accompany the technology...but I also don't understand why everyone gets so incensed about low offers. I know it's incredibly unlikely, but what if for one reason or another all the other offers fell through and the lowball offer turned out to be the only qualified buyer of the bunch. I have seen it happen. And as a buyer I wouldn't care a whit about the comparables or what the seller expects. I would expect my agent to submit the offer I wanted to submit. Regardless. In this case, I don't know what particular addenda were expected, but again, just because a bank or other seller wants a particular addendum doesn't mean it is legally required. It is still a matter of negotiation.

Oct 08, 2011 06:21 AM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Susan:

Agents should know how to write a contract properly, read instruction which listing agents provide and follow through.  As for the low ball offers, the agent may not be familiar with the area.  The agent may just routinely write low ball offers without even know the comps.

Oct 08, 2011 09:53 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I think technology is very important, but there are a lot of things you need to learn first or technology is just a waste of time.

Oct 09, 2011 08:39 AM
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Susan,

in essence we can't really blame the newer agents, as the required education is really a bit of a joke for anyone to be considered competent to be called a Realtor, but they would not know that until much later.

Oct 09, 2011 01:38 PM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Susan congrat's on the featured post here on A/R ... you go girl ! ... what a great blog article

dallas homes for rent by owner dallas houses for rent by owner lynn911.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Oct 09, 2011 02:07 PM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Debb:  I love what you said - wish I had thought of that great analogy.

Robert:  Bingo!

Scotti:  Thanks! I agree with you totally.

Joy:  Precisely!

Angel:  Thanks for the comment and for stopping by.

Tammie:  There you go!

Mike:  Exactly!

Lanre:  Thank you!  Look at you with your 400,000+ points...you inspire me!

Lynda:  Excellent message you gave your class, to be sure.

Oct 09, 2011 02:43 PM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Sandy: (Whispering)... LOL...I am so with you there!  I, too, have to have the latest cool toys, but they will always take a back seat to knowing my market and keeping up with contract changes, etc.

Kerry:  It's easy for agents to get caught up in marketing themselves in the beginning because that's what so many are told to do and that's what they see.

Marge:  Me, too!

Deb:  You know, that is so, so true.

Debbie:  You're right about that.

Michael:  Great observation...this is, indeed, a people business.

Beverly:  The same is true in my area, as well.  Many of the top producers I know use a cell phone and that's about it!

Michael:  No compensation for a lack of competence - I like it!

Oct 09, 2011 02:49 PM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Scott:  Absolutely...it's about the basics, really.

Cheryl:  This does apply to other businesses, for sure.

Eric:  Yeah, I know.  I was disappointed, though, because I love Dropbox and am frustrated everyone doesn't use it!  LOL

Coral:  "Hack move."  I love that!  And I'm going to use that phrase sometime soon.  LOL

Carl:  Can't say I have ever been "incensed" about any offer, although I don't like to see anyone's time wasted.  I was disappointed, though, to receive a mess of an offer from someone who seemed so technogically advanced.  It could have been so good...

Evelyn:  Oh, undoubtedly, just seems like a waste of time in some situations.

Todd:  Absolutely!

Peter & Linda:  I agree, to a point, although I do think people should take a little more responsibility for what is expected of them and understand they are running a business. 

Lynn:  Thank you!

Oct 09, 2011 02:56 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Susan, I agree the flash looses its sparkle real fast when the agent behind it doesn't know what the heck they're doing. Glitz and glamour will never take the place of real nuts and bolts knowledge. What a let down is right. Hope you make a quick sale with a competent agent.

Oct 09, 2011 03:42 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Otherwise, the flash will turn into "flash in a pan"

This really says it all. Without substance, flash will fizzle and fizzle fast. Excellent post, Susan, so glad Donne featured you again :)

Sharon

Oct 09, 2011 04:23 PM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Technology is great but without a good REALTOR to actually call you back and answer their phone when you call its as worthless as two teets on a boar! IMHO

Oct 09, 2011 04:55 PM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Susan,  this was a post which really needed writing !  SO much emphasis on having all the correct bling !

Oct 10, 2011 04:40 AM
Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
(617) 388-3151 | Century 21 Commonwealth - Newton, MA

Melville CappsSusan, technology can just be a distraction. We went old school, and print out each new listing in our main market, Newton MA. We file them by street in a big notebook with A to Z index tabs. We hand write updates in price and status on each page. The act of updating the book each day helps a lot in knowing the local market.


It is actually faster to flip the pages in the book in response to a call about a particular property than it is log onto the MLS and do the search. Also, right at our fingertips is information such as, "there are two other houses for sale on that street."


Melville Capps


Oct 10, 2011 06:05 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Oh, don't even get me started. My confidential agent remarks generally start with instructions to email the offer to me, followed by specific directions, which aren't read, either. I know when the offer comes via my buyer's agent email that there are documents missing before I even open it. Because if they can't figure out where to send it by reading the directions, you just know the offer itself will be messed up as well.

Oct 10, 2011 08:02 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Pamela:  We are under contract with an awesome agent who appears to be quite professional.

Sharon:  Thank you!

Rosalie:  Or should that be "Two TWEETS on a boar?"  LOL  Couldn't resist!

Bill:  Yep, I agree.  Let's do our jobs first, shall we?

Mel:  I have heard rumors about that kind of system.  LOL

Elizabeth: LOL...Oh, I feel your pain...I don't understand how they cannot do it right because, after all, this is what we do!

Oct 10, 2011 11:15 AM