So an agent actually said

By
Real Estate Agent with DeLex Realty

So I consult on a project

Which buys homes and sells them at a discount for investors who are purchasing rental property. The company buys "flips" and then sells them to other investors to make them rentals, while they are in the construction process. This requires my staff a lot of phone calls to other agents. 

One of my Realtors called another agent.

The agent on the other end of the phone sounded interested and began to discuss numbers with my Realtor. When my Realtor provided the agent recent comps based on the most recent sales, the agent interrupted my Realtor and said "Zillow said the home is worth $210,000", my agent responded politely and stated "we do not use Zillow for comps, there was a sale next door for $330,000. He argued with my Realtor and again stated "Zillow only says it is worth $210,000, you are trying to rip me off". 

While I have no issue with the public using Zillow, I do with agents. 

I do not like to complain but if Agents do not have the skills to do their jobs, they should find more training. I am a professional agent, I understand what comps are based on and I know how to tell what a property is worth. I was shocked by what this agent had said and I really hope the public researches agents they are working with before trusting them with the largest investment they will ever make. 

Posted by

James (Jim) Lord

jim@jimlordregroup.com

www.jimlordregroup.com

480-648-3378

Comments (21)

Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Jim- I too am amazed! Yes, the public will use Zillow and agents will look at it but for an agent to use Z as their source for comps is unbelievable. 

Sep 16, 2017 09:20 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                                                   

Thank you Jim Lord 

 

Sep 16, 2017 06:43 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Wow, this agent is so dumb.  I wonder how long that person will last.

Sep 17, 2017 04:49 AM
Jim Lord

I will admit, that is EXACTLY what I thought and your comment made me laugh. 

Sep 18, 2017 06:28 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I agree - I can understand buyers and sellers seeing info on Z, and thinking it is true. But an agent? Their broker needs to help them understand how to do a price analysis.

Sep 17, 2017 04:58 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jim. Take a deep breath and tell yourself "you can't fix stupid", it is not your job! Enjoy your day!

Sep 17, 2017 04:59 AM
Jim Lord

The problem is, I keep having to tell myself that. With the business model I represent, having my Realtors call on Agents and Property Managers all day, Stupid is becoming a part of daily life. 

Sep 18, 2017 06:30 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Can't even begin to imagine - but as Wayne Martin said - "You can't fix stupid!" thanks for sharing an incredible situation

Sep 17, 2017 05:14 AM
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to pick your post for her wrap up this week!

Sep 17, 2017 05:46 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hello Jim - you really have made a good point.  You expect another agent to know the business.

Sep 17, 2017 06:38 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Jim:

Well, I was wondering where this was going and you did not disappoint. Can't say I have ever heard an agent support using Zillow data for comps. So what value is this agent ever adding when working with a seller or buyer if this is now they work?

Jeff

Sep 17, 2017 08:14 AM
Jim Lord

Jeff, the funny part is, this is #3, he was just the rudest of them all and stuck to his Zillow guns. 

Sep 18, 2017 06:31 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jim Lord,

I'm so glad that Kathy Streib featured you post in her "Ah-Ha" moments for the week because I missed your post. This just goes to show you all real estate agents are not equal and one should always research their agent before working with the. This one just doesn't have the skill sets to be representing anyone buying or selling.

Sep 17, 2017 09:12 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Wow....not a very smart agent I guess. LOL

Inexperienced maybe? Or trying to pull a fast one, thinking he could actually use Zillow as some sort of bargaining tool. LOL

Sep 17, 2017 04:44 PM
Jim Lord

In really thinking about it, no one ever taught me how to pull comps. I teach my agents to pull them and what a comp looks like, but no one ever showed me, I was just lucky to have a basic idea of what I was looking for and stupid things like Zillow did not exist to throw me off track. So ulimtately I guess their DB is to blame, maybe. Or, equally as likely, as Debbie Gartner pointed out, they could just be stupid. 

Sep 18, 2017 06:34 AM
Suzanne Strickler
Realty Mark Associates - Havertown, PA
School is never out for the Successful.

Jim Lord - Laziness. It's easier to read Zestimates than generate real comps.  Sooner or later this agent will realize in this business lazy doesn't last

Sep 18, 2017 04:10 AM
Jim Lord

It is funny. I read a story about Purple Bricks on Thursday. They are a UK company that just opened shop in LA. They are a "Flat Fee" company, they charge about $3,500 to list a home, it is called a full service listing. Much like Zillow, I have heard that this too will be the end to Realtors. After meeting this agent, I see why such services exist and why they are becoming popular, idiots like this person who do not know how to do their job (or lazy) make the industry look easy and not worth the commission we charge. 

Sep 18, 2017 06:41 AM
Gordon Crawford
Gordon Crawford Home Selling Team - Morristown, NJ
Your Morris County Specialist!

Wonderful post Jim!  I have had sellers call me and say, Zillow says my home went up in value $10,000 this week.  Let's raise the price?  I have to agree with you, it's even worse coming from a realtor.

Sep 18, 2017 04:18 AM
Jim Lord

The funny part is, there are so many agents scared of Zillow. I see posts all the time about how it will take over, I laugh as with such a poorly designed product that is all over the place, how can anyone be that concerned? Like I said, last week I looked up my personal house and it said I sold it for $100K a month ago. 

Sep 18, 2017 06:37 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Jim, why would an agent use Z to pull comps? Consumer, yes but makes no sense for an agent to do so.

Sep 18, 2017 05:38 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Sounds like someone is guilty of impersonating a professional real estate agent!

Sep 18, 2017 08:30 AM
Ernest Villafranca
Better Homes and Gardens Real Estate - Oakland, CA
3923 Grand Ave. Oakland CA, 510-418-9443

For an agent to use Zillow for price determination is funny.
"You're trying to rip me off," is rude.

Sep 18, 2017 10:48 AM
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

Hmm. I am sorry to hear this story. It is unfortunate that the agent relied solely on Zillow. Thanks for sharing. 

Sep 18, 2017 12:55 PM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Disagreeing with another professional's opinion is going to happen.  But eluding to fraud or "rip-off" behavior via the first contact is another thing, Jim Lord.  Sad that we've gotten to a place where so many can't understand the difference and feel they have the right to state such opinions quite so quickly and freely ...

Gene

Sep 18, 2017 01:06 PM
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

WOW I hope this agent isn't advising buyers on how to put their offers together.  

Sep 18, 2017 01:08 PM
Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Future Home Realty - Seminole, FL
Providing the integrity and service you deserve.

I couldn't pass not reading this one. WOW.....if an agent doesn't get it about Zillow then it's no wonder sellers don't get it. All I can sell is....scary.....just scary. 

Sep 20, 2017 08:32 PM