"How about now?" Broker's quick thinking leads to listing

Questions about the accuracy of real estate information is every RPR user's dream. It gives REALTORS®, like Neal Oates, Jr., a chance to shine.

Neal, an independent broker/owner in the competitive south Florida market, is "that guy" in real estate. Taking to data like a duck takes to water, he capitalizes on what many small brokerages do to remain competitive in the information age––using the most reliable, accurate and cost-efficient resources to propel his business in the direction he wants it to go, while positioning his brokerage, World Renowned Real Estate, against larger, and more leveraged, national franchises. "In real estate, there's always something new and shiny that we have to pay for," says Neal, "but then we forget about the foundational things and the value of accurate info."

For his data, Neal relies on Realtors Property Resource® (RPR®), the nation's largest property information and reporting system, offered only to REALTORS® as a member benefit. Access to the property database is included in their dues.

And he makes the data work for him with ease. Here's one instance of how Neal used RPR to earn new business.

It's open house day and Neal greets Griffin, a neighbor, hands him an RPR Market Activity Report, and then invites him to tour the property. Several moments later, Griffin returns with a question. "This report says my neighbor's house sold for $360,000," says Griffin. "But [laughing] that sneak told me it sold for $380,000. Who's right?"

Smiling, Neal pulls up his RPR app while explaining that RPR uses both MLS and public records data to give buyers and sellers the real story of any property. Neal confirms the $360,000 sold price and then uses the app to show Griffin the property's photos and characteristics, mortgage and tax information, historical records, and more.

"What can you tell me about my house?" asks Griffin, intrigued. Within seconds, the two are reviewing the ins-and-outs of Griffin's home and discussing the RVM®, or Realtor Valuation Model®. RPR's RVM––the only REALTOR®-owned, automated valuation product––goes beyond traditional AVMs by incorporating listing and sales data from the MLS into a property's valuation. The RVM comes with a Confidence Score—a value between zero and five stars that shows the level to which each of the multiple models agrees with other estimated values for a property.

"I tell Griffin that his property is worth $365,000 according to the RVM and then pull up the comps RPR used to reach that value," says Neal. "I also see that the RVM confidence score has a four-star rating, so I feel good about the valuation."

Neal explains that the RVM is just a starting point and that he would like to see Griffin's home to give him a more accurate estimation. "Okay," says Griffin. "How does next week sound?"

"How about now?" says Neal. "I'll have a colleague take over the open house and we'll go down your place. I can run the numbers, take photos, make notes, create reports... all on my app."

Impressed by Neal's go-getter attitude and instant access to data, Griffin agrees. While waiting for his agent, Neal takes a few seconds to run an RPR Mini Property Report on his soon-to-be new listing and texts it to Griffin with a note, "Here's an example of what we can learn about your property. See you in a few minutes."

That RPR Mini Property Report, coupled with Neal's exemplary commitment to customer service, led to an RPR Seller's Report and a brand new shiny listing for Neal Oates.

To view the original article, visit the RPR blog.