Tech with Ty

🤖[T]echnology: House Fax?
🎓 [E]ducation/Entertainment: Should You Repost?
💪[C]oaching: Slow Down
📹 [H]ow To: Survive the Upcoming Changes

[T]echnology:

I’ve seen other companies tout themselves as the real estate version of CarFax, but RealReports.ai might be it…

I’m always a little hesitant when I see promises like that, but I just signed up for an account and have to say, I’m impressed. 👍

Not only does it give an incredible amount of data on my personal home, it even has neighborhood and county data I didn’t know existed. 🤯

It has permit history, property valuations, owner info, and even a built-in lead gen. So you can create a report for your listings and add a QR code for prospective buyers to download the report.

I was even able to ask Aiden, the built-in AI, how to market the property based on the report, and it gave me an incredible summary of data points, nearby attractions, and more.

For $9/mo.🤑 (one report), this is one you should probably check out.

[E]ducation:

I’ve seen the above posted by no less than 40 agents, and just wanted to offer my two cents…⬇️⬇️

There are things that I like about it and things I don’t…  

I like that it’s a proactive approach to educating the public. 

However, I don’t like that it specifies Realtors because with Ohio law (amongst many others) changing, it will be all agents.  

I also don’t love that it says the agent “May likely not have an idea if they are going to get paid from the transaction.” ❌ 

I’d rather see this say something along the lines of: “A good agent will still perform due diligence to find out if the seller is making an offer of compensation, as it may impact the amount a buyer must bring to the closing table or even their ability to purchase.”

Regardless, I think there’s a huge opportunity to make it your own, make a video, or even host webinars to help educate the consumer. 📹

[C]oaching:

It may seem like the sky is falling, and you’ve got 10+ new forms to learn, scripts to memorize, role playing to practice, and you’re panicked because your MLS already removed Buyer Broker Compensation, and you’re not sure if your buyers can afford to pay you. 😨

I get it.

Change is scary. 👻

I made buyer-broker agreements mandatory for our agents on Feb. 1; believe me, it was terrifying.

Until you got through your first appointment. 

Take a trip down memory lane and remember how scary it was to go on your first listing appointment.

I took mine when I was 20 years old and had no idea what I was doing, but I looked the sellers in the eye and told them I would get their home sold (even though they listed for $15k more than I recommended) and they signed the paperwork that night. 

Confidence is key. 🔑

You have to believe in your value.
So take a deep breath. The next two weeks are going to be a whirlwind of change, but if you slow down to read through the new contracts, practice some of your scripts, and deliver your value with confidence, you’ll be just fine.

PS. I sold that home in less than a week ;)

[H]ow To: With Abby

The time has come…the changes are here. 

We can argue all day long about the logistics of this lawsuit and the changes that have been made, but there is one glaring fact you can’t ignore: this is happening. 

We know it sucks big time, but if you want to keep up, you are just going to have to accept it, adapt, and move on. 🤷‍♀️ 

What should your game plan be for these next two weeks? 👇👇

Step 1: PREPARE

I can’t emphasize this enough. You need to be as prepared as you can be. This is new for you, and you’re probably confused. Your clients are going to be even more confused. Study and read the new forms. You’re going to look really silly if your clients ask you questions when you’ve barely looked at them yourself. Also, prepare yourself for the questions you are going to get. Why do I have to sign something before seeing a home when I didn’t have to last time? How are you being compensated? Why should I pay you 3% vs. 1%? 😖

If you are going to prepare a commission a la carte option, you need to be prepared to defend every single item listed and explain why they need it.

Create materials that will aid you in these conversations, whether that be a brochure of your services, a packet of the process, a series of videos, or a folder filled with every ounce of info your clients need. With visual aids, these conversations will go much easier for you and them. Plus, they will appreciate the effort you are making. 📝

Step 2: MASTER

Master the art of countering objections. People are going to object to the layout of your commission or signing a Buyer Agreement. Master the art of explaining the scope of your work, what type of representation they need, the amount of compensation you will receive, and what they will receive in return. Practice these conversations beforehand. 🙌 

Step 3: EXECUTE AND ADJUST

You can only prepare so much before you have to go into the field and learn from experience. After a few tries, you’re going to start to understand what is expected of you and the type of questions you are going to be asked. You will more than likely have to tweak your script or materials once you realize what is working and what isn’t. This is going to be a learning experience for everyone. 🧠 EVERYONE is doing exactly what you are doing right now. You aren’t alone in this, and I highly encourage you to talk and collaborate with others to see what is working.

These next few months will be interesting. Again, we are all going through it. Mentally, I recommend three options: planning a vacation after to decompress ☀️, drinking wine🍷, or taking up outdoor walks. 🌳

-Ty Morton + Abby G