Why an Agent Can’t Be Over-Reliant on the MLS

Today I want to talk about how the MLS has changed in our real estate industry. Ten years ago, our value proposition was centered almost entirely on it.

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You may see what’s happening out there in the market, but I want to talk about a functional perspective of the MLS and how it’s changed our real estate industry.

Ten years ago, the value proposition of a real estate agent was basically just the MLS. We had access and everyone else didn’t. They had to go through us to get the info. That’s not the case anymore. The bar has been raised for what a great agent does. Now, I’m worried about agents who rely on the MLS as the cornerstone of their business.

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The bar has been raised for what a great agent does.

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In today’s fast-changing world, you’ve got to do what other agents aren’t willing to do to survive. This means knocking on doors, working your sphere of influence, and finding sellers before they know they’re sellers. That’s how you create the best opportunity for your buyers. You can’t rely on the MLS for that anymore.

If you have any questions, please feel free to drop me a line or shoot me an email.

Answering the Question of Why Do I Need a Real Estate Agent?

Not everyone will understand right away all the work we do on their transaction. A lot of professionals like to openly question why they should hire a real estate agent if they could just do everything online anyway.

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 Email me today for a private San Diego real estate career consultation.

You’ve probably encountered this situation before.

You have a client come to an open house who is a professional, whether it be a lawyer, doctor, or accountant, and they say something like this: “You real estate agents sure make a lot of money. Why do I need to hire you if I can just use the internet and sites like Zillow to buy and sell homes?”

If you run into this situation, here’s what you have to do. You have to help them see it from a perspective that they can relate to. Let’s say the person asking you this question is a doctor. A good answer would be something like this. “As a physician, why would I need you? I can go to WebMD, figure out what kind of prescription I might need, go down to Mexico and get it, and medicate myself.”

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You’ve got to appeal to their professional side.

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Maybe it’s because there is a chance things could go wrong. Something bad could happen, and you could get really sick by trying to save a few bucks. Things can go wrong in the real estate transaction the same way. You might not get sick by not hiring an agent, but you could really get taken advantage of when buying or selling.

In order to win with a professional client, you need to establish yourself as a professional as well.

I hope this tip helps. If you have any questions for me, feel free to reach out and give me a call or shoot me an email. I hope to talk to you soon!

How to Protect Your Clients' Money From Wire Fraud

There is a new scam out there where hackers are watching your email while posing as real estate agents.

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 Email me today for a private San Diego real estate career consultation.

Today, I want to talk about wire fraud and protecting your client’s money.

There is a new scam emerging out there where internet hackers are watching your email while posing as a real estate agent. They’re waiting for you to click on a certain link. You might see something come along one day from DocuSign, or your office, or another agent that you trust saying something along the lines of “Download this document,” or “Click here for more information,” or “Will you take this referral?”

Once you download this link, it will then ask you to sign into Google. What’s actually happening here when you “sign into” Google is that you’re giving away your username and password to these hackers. 

Initially, they don’t do anything with it. They just keep watching your email transactions, waiting patiently. The instant they see a set of wiring instructions, however, is when they strike. They take those wiring instructions and modify them to match their own banking information. They then send that information back to the escrow company, absconding with your client’s proceeds, earnest money, or sometimes even the bank’s proceeds. It’s a scary thing, and I’ve seen multiple escrow companies here in San Diego get hit to the tune of a million dollars each.

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Always verify attachment links that look fishy by calling the escrow company.

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So be aware, and be careful. Whenever you’re looking at an attachment that feels fishy, don’t hesitate to pick up the phone and call the escrow company. When your clients are sending wiring instructions or wiring money to the escrow company, talk to the escrow officer and confirm where they’re sending that money.

Hopefully, this helps you in your business. If you have any more questions, feel free to call us up or send an email.