Home > Blogs > Loreena and Michael Yeo > Frisco TX Homes for Sale

How to Survive NAR's AgentTool Match

By Loreena and Michael Yeo

Real Estate Broker/Owner with 3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. #9001154

November 12, 2013 10:07 PM

NAR (The National Association of Realtors) is experimenting with "AgentMatch" tool. For those who doesn't know how it works,

Assuming you want to sell your home. You wanted to find out the top performing agents in your area but didn't know.

You enter your address and AgentMatch finds 16 best agents in your area. AgentMatch uses agents' past performances to give you:

Average List to Sold price ratio in the past 6 months
Number of homes sold in the past 6 months
Average days on market in the past 6 months

I could see why Consumers would appreciate such facts. So many agents do claim to be "Multi-million dollar top producer", #1 agent, etc. How are these claims made?

I remembered a while back Redfin tried to provide such information. With the uproar from other agents, the great tool didn't survive long. It was pulled back and everyone was happy. I was one of those who didn't appreciate my personal information be published. After all, a doctor, an accountant or an attorney (personal or trade association) publish its members data, why does the real estate industry always feel the need to expose itself?

While the thought still boggles my mind sometimes, these are my thoughts (2-3 years later after the Redfin debacle):

I think a measure is healthy. It helps us (full-time people) know where we stand. How we run our business, what are profit margin is. It's good for the business person, it's good for the consumers to gauge. After all, I honestly don't want to work with an agent that sells 1-2 homes a year. It could be disasterous.

I've changed my measure some 3 years later and my business plan reflects that.

I no longer say "How many transactions I want to close each year, or how much income I want to generate". I begin each year with one simple prayer, "Lord, please send me those I'm suppose to serve and help this year and please stop me from those I shouldnt".

Measurement - if you try to get caught up in this can be healthy (if you use it at face value) or unhealthy if you let it consume you. You can become envious and ugly. Unhealthy competition and a constant comparison between you and your "successful" realtor friend can eat you alive.

Everyone has his/ her own journey in this business. So, why let comparison rob you of your joy in this business?

I'm upfront with my seller clients about my production. I tell them I'm not the 100-200 transactions girl if that's what you are looking for. But if you select me as your agent, you get ME. I return all your phone calls, I answer all your questions and concerns. I am responsible for the sale of your home. You get ME. You are not my PROBABILITY. (Out of 100 homes I sell, I sell 75). I would hate to be in the 25% pool.

Sure, I already share stats with my sellers. But my statistics is stellar because I dont do that many transactions a year. What's more important is that I sell every listing I take. I take care of every client I have.

I dont wrap myself up in competition and statistics anymore. If that's what you like, that's fine but I'm not that. AT ALL.

Running business is hard in itself. I don't put additional pressure to be the TOP, the BEST. I only care to serve those I'm called to serve and to serve them the best way I know how.

With that, every year, my production increases. My income increases. But that's NOT my focus. I didn't set out my year that way.

I guess Zig Ziglar is very right when he said, "If you help enough people get what they want, you will get what you want". And I want, more than anything else in the world, is to be the best agent for those I'm called to serve.

Guess what, coincidentally the good income and the good life I live are bonuses I reap.

So, whatever AgentMatch wants to do, it really doesnt matter to me if I'm one of the 16 agents. I'm just going to keep focus on what I need to do everyday. This too, shall pass.

PS: In the end, all that matters is: Did I serve my clients well, did I run my business well. Did I have enough to take home to my family. Did I use my money well.

Loreena Yeo, Realtor(R) in Frisco TX

CALL TODAY (214) 783-2210

Loreena Yeo lives, plays and works in Frisco TX since 2000.
Owner/ Broker of 3:16 team REALTY - a local Real Estate Company.
Moving to Frisco TX? The UNOFFICIAL Ambassador of Frisco TX.
Search Frisco TX homes now.
Position you to become an informed, ready Frisco TX home buyer.
Find out how Loreena sells homes in 1/3 of time than the average local Realtor®.
Be an informed real estate consumer in Frisco TX.
Read raving fans' reviews.

Connect via Social Media:

Content & Photography Copyright © 2013 by Loreena Yeo (3:16 team REALTY)
AR November Contest: How to Survive NAR's AgentTool Match

Re-Blog

Featured

Comments(101)

Comment

Show All Comments

Sort:

Jeanne Dufort

Coldwell Banker Lake Country - Madison, GA

Madison and Lake Oconee GA

These stats nearly always are reduced to NMF (no meaningful figure) when applies to my rural and resort market, where 50,000 people live well distributed in 1500 square miles - in homes selling from $30,000 to $2,000,000 - lakefront, historic, farms, and a smattering of traditional subdivisions.

Having said that - I do think some objective metrics could be a useful piece of the decision making process.

Nov 14, 2013 01:10 AM

Than Maynard

Coldwell Banker Heart of Oklahoma - Purcell, OK

Broker - Licensed to List & Sell - 405-990-8862

NAR cares nothing for us as agents or people. They care only about trying to increase visits to r.com and charging agents more money for the leads we generate.

Nov 14, 2013 01:16 AM

Andrew Jones

Horizon Pacific Realty - Los Angeles, CA

LA Beach Cities Homes 310-399-3740

You should be losing sleep over this Loreena unless you want survive by working as a an 'agent' for Realtor.com at $25 an hour someday. That's what I think big business's long-term plan for the real estate profession is... this is just the tip of the iceberg.

Many agents are clearly angry at the NAR for good reason as there seem to be serious coersion issues and breeches of trust on their part.

Unfortunately, nothing is ever done about it.

Good job for taking a stand on this in your blog Laura!

http://activerain.com/blogsview/4247569/is-agent-ranking-really-nar-s-job-

You said you were going to send it to the president of the NAR. You ought to send it to the U.S. Attorney General, the Secretary of Commerce, and the Secretary of Housing and Development to let them see what a lot of agents think the NAR is about.

(... or maybe we should stop complaining and finally do something about taking care of the problem ourselves?)

Nov 14, 2013 02:07 AM

Loreena and Michael Yeo

3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX

Real Estate Agents

Andrew, I doubt I'd be losing any sleep over this. It's too petty to be worried about. Top 16? Clearly I'm not. I'm not even sure if I'm the Top 100 for my area. I do what I can under my control. What I can't, it's not my problem.

Whether or not, NAR will do this, etc. who knows and who cares. I only know that I help people buy and sell real estate and I'm good at what I do.

I cannot say this any better,

Galatians 6:4 (NLT) Pay careful attention to your own work, for then you will get the satisfaction of a job well done, and you won’t need to compare yourself to anyone else.

Nov 14, 2013 02:30 AM

Catherine Ulrey

Keller Williams Capital City - Salem, OR

Equestrian and Acreage Property Specialist

I appreciate and agree with your perspective. I still, like many agents, see the writing on the wall though. This is just more big government.

Nov 14, 2013 03:43 AM

Gene Riemenschneider

Home Point Real Estate - Brentwood, CA

Turning Houses into Homes

I am a small broker. If I do 16 Transactions in a year (mixture of listing and selling) it is a good year. I would like to do 24 to 30, but I do not want to be a big agent. That does not mean I do a bad job, it does mean my service is more personal. What kills me about this is the NAR is supposed to represent all of us. Now it is making a Judgement about who is the best and sharing with the public. How does this at all help me. In fact I think it may be an Anti-Trust Issue.

Nov 14, 2013 05:30 AM

Robert Ramirez

Century 21 Bundesen - Petaluma, CA

Rain Maker

Loreena thanks for your thoughts as well as the all the others who posted. I am personally not too concerned about this issue and mainly because we have no control over what Realtor.com does. They are not owned by NAR we just sold them the right to use the name. They are a for profit company and believe me they are looking for a way to make money off agents. Notice they have the top 16 agents. I'm sure for a fee you can have your picture and bio come first in spite of your sales production. Yelp did this and it was pretty nasty. If you don't get on one of their programs they bury all your reviews. It again pretty nasty but thankfully consumers are getting smarter these days.

I do a fair amount of transactions but I also take extreme pride in them and don't take on more than I an truely service. I want quality sales to be my legacy not volume. Lets leave volume for fast food chains not Realtors. And Loreena I love you prayer "Lord, please send me those I'm suppose to serve and help this year and please stop me from those I shouldnt"

We all should mantra this daily,

Kind regards,

Robert Ramirez

Nov 14, 2013 06:09 AM

Holly Weatherwax

Associate Broker, Momentum Realty - Reston, VA

A Great Real Estate Experience

I worry that uninformed consumers will type in their info and get sent to the same 'big' agents that are already getting the calls. I have never wanted to be that kind of agent, but I have always enjoyed a solid respect for my business. If my clients, and even customers, ask me this information, I will certainly share it, but I hate the idea that I might never get that first meeting because I didn't have 100s of transactions last year.

I suspect this will blow over, but I also wonder if paid advertising on the site bumps up your rating--would it surprise anyone if it does?

Nov 14, 2013 07:55 AM

Shanna Hall

Real Estate Solutions - Kirkwood, MO

I love selling houses!!!St. Louis, MO 314-703-1311

Kudos to you!!! I work the same way- 100% of me all the time- clients only deal with me- not an assistant, secretary, or other lacky. They get my full and personal attention. I typically close 20-50 houses a year- but I know every step of the way it is done correctly and to the best of my ability!

Nov 14, 2013 08:11 AM

Shanna Hall

Real Estate Solutions - Kirkwood, MO

I love selling houses!!!St. Louis, MO 314-703-1311

Nov 14, 2013 08:12 AM

Mike Cooper, Broker VA,WV

Cornerstone Business Group Inc - Winchester, VA

Your Neighborhood Real Estate Sales Pro

Loreena, I like the way you look at this. I do think these types of services are disservices to the real estate market. Great agents who are not in the top 16 group get passed over, and those who want to do a great job on a smaller scale are looked upon as low performers. It's a flawed system.

Nov 14, 2013 09:02 AM

Jared Garfield

Rich Life Real Estate Team - Buford, GA

Invest With The Best For The Highest Returns!

This is a really complicated issue, because on the one hand it's great for the consumer, but as the market changes a great deal, if you are going from investment properties back to high end homes, it doesn't help much. Regardless of how much experience you have, if you have done what the market demanded and are now switching this could be painful.

Nov 14, 2013 11:00 AM

Dan Spencer

Aspen Lane Real Estate - Aurora, CO

Your Colorado Home Source

How will NAR convince new Agents to sign up? Why would a brand new agent pay the dues to be kicked to the bottom of the pile until they build there business up?

Nov 14, 2013 12:39 PM

Kimo Jarrett

Cyber Properties - Huntington Beach, CA

Pro Lifestyle Solutions

Thanks for sharing your perceptions about your business and the impact if any, NAR might create with their new agent match program. I'm not interested in what other Realtors, agencies, or organizations are doing but only what I am doing.

I compete against myself to strive continuously to improve my business year over year. If I come up short, I have only myself to analyze yet as long I enjoy my lifestyle and am comfortable, I win, don't I? So, I think, we're on the same page, right?

Nov 14, 2013 01:18 PM

M.C. Dwyer

Melody Russell Team at eXp Realty of California, Inc. - Felton, CA

MC Dwyer-Santa Cruz Mountains Property Specialist

Hi Lorena and thanks for a comment inducing, provocative blog. After reading about your philosophy, I feel so validated because we share the same values. My focus is on being really there for my clients: responsive with plenty of time to consider their situation, answer their questions, attend their inspections, and smooth out the rough spots that inevitably arrise. I simply don't see how that's possible if my goal was to be the area's top agent and I had too much business at the same time. I love your "simple" prayer!

Nov 16, 2013 01:26 AM

Bob Miller

Keller Williams Cornerstone Realty - Ocala, FL

The Ocala Dream Team

Great post Loorena, we just hope in NAR doesn't roll out that agent match before they know what they are doing.

Nov 16, 2013 08:38 AM

Mark Brian

Silver Star Real Estate LLC - Anderson, SC

Anderson SC Realtor

When I first read about Agent Match is upset me. but the more I thought about it, R dot com, NAR and Move are not responsible for my success or the lack thereof.

I got into real estate because I was tired of working for and with people that were not as motivated to succeed and make things better as I am.

That being said, NAR really should consider some of the criticisms and backlash that Agent Match has created. Angering or alienating your membership oes not seem to be the best idea...

Nov 19, 2013 10:51 PM

Cheryl Dukes . . . . . Intown Atlanta

Guaranteed Offer for your Home - eXp realty - Atlanta, GA

Loreena - Love your spirit. It is the reason you do so well. You go girl!

Nov 20, 2013 01:12 PM

Andree Huffine

Coldwell Banker Real Estate - Sarasota, FL

How true your comments are.

Dec 12, 2013 11:13 PM

Nancy Lamb

Home Smart LifeStyles - Fountain Hills, AZ

& Loving AZ Team-Fountain Hills AZ

Loreena, Your business philosophy is thoughtfully expressed and very much appreciated in today's world. Thanks for a refreshing outlook in the often competition laced negativity, dog eat dog mentality that can surround our profession. So glad NAR made the right decision today!

Dec 13, 2013 12:30 AM