Innovation is Not for Everyone

Innovation comes from within.  Innovation should be in-house, a part of the corporate culture, and continuous.  Innovation comes from clients in the form of comments, concerns, and complaints.  Some of the best ideas and enhancements come from the clients who use the product daily. Before I became a hardcore software geek, I was an administrative end user on a US Navy, mission critical system. After years of working with this system 12 hours a day, I became the so-called subject matter expert (SME) for the system and was later named the Lead Engineer during Y2K.  I understood the system [...]

By |April 3rd, 2020|Categories: Blog|

Stop Garbage in; Garbage out – Why Not Have A New Day?

Zillow doesn’t use its own Zestimate. Need proof? Zillow Offers (iBuyers) stopped buying houses suddenly this week, but their unproven and somewhat unchallenged Zestimate is still available for the general public to use. Did you know that Zillow’s Zestimate relies on an agent's listing and closing information to be posted on the Internet in order for them to use their Zestimate? Yes, they use public tax records and other sources (old data and possibly incorrect data) to power their Zestimate AVM. In some markets, Zillow may have access to MLS data, but their AVM is still flawed. When a [...]

By |March 27th, 2020|Categories: Blog|

Pricing homes these days is a crapshoot, but it doesn’t have to be

Ask a thousand real estate agents how to price a home, and you’ll get a thousand different responses, methods, and prices. It sounds like a joke, but it’s essentially the truth. In fact, team leads, brokers, and MLSs spend inordinate amounts of time and money training their agents on how the CMA process is conducted to produce a “price.” Then, agents can choose one of the various CMA presentation tools out there and put that “price” in it. Even scarier is that agents are taking averages of price per square feet, plugging that into an AVM, and BOOM…a “price.” [...]

By |March 20th, 2020|Categories: Blog|

Using Today’s AVMs to Price Is Too Risky

One of the challenges with AVMs is that the analytical profile used to determine the market value of a property is buried in the data. Many AVMs only provide a dollar amount for the home price, and nothing else. As a result, the agent has no opportunity to explain to his or her client how the AVM pricing was achieved. Distrust of the AVM property valuation turns into distrust of the real estate agent and you lose the client. Trouble is, anyone trusting Zestimate, or another AVM, is likely to take this with them into the next transaction with [...]

By |March 13th, 2020|Categories: Blog|