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November 11, 2009
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Real Estate Professionalism For Dummies

Ray Brown, co-author of Homebuying for Dummies, Hungry Minds, and the just-released second edition of Houseselling for Dummies, Hungry Minds, is a 62-year-old career real estate broker who with his partner Eric Tyson, a Stanford MBA, writes consumer-friendly books about buying, selling and getting loans for homes.

The Dummies franchise is all about enabling consumers to perform tasks such as buying and selling a home by learning how to make use of the authors' insider knowledge about how these industries are run. They also teach consumers how to choose professionals, and how to avoid unscrupulous or incompetent professionals.

The advice in the books is a quick, fun read - with glib, hey-I'm-on-your-side jabs aimed mostly at service providers, giving readers the belief they are being put totally in control - hence the appeal of the franchise. Homebuying for Dummies has sold 400,000 copies. Houseselling for Dummies has 100,000 copies in print.

If you have never read the books, wouldn't it be useful to know what these guys are telling consumers about real estate professionals? After all, according to the 5 million homes plus sold annually, the Dummies franchise could be influencing as many as one out of ten real estate consumers. If you were able to meet their criteria for a "good agent," you might be better prepared to serve the Dummies-empowered consumer.

Despite the do-it-better-yourself appeal of the franchise, Brown maintains that his books are not about side-stepping or devaluing real estate professionals, but are designed to give consumers more confidence and control. In Houseselling For Dummies, he points to Chapter 7: Your Real Estate Team, where the real estate agent and broker are positioned along with property inspectors, escrow officers, financial and tax advisors and lawyers, as part of a homeseller's real estate team.

"I take it one step further and suggest that readers use a good agent," says Brown.

What constitutes a good agent, according to Dummies?

For consumers, good agents:

  • Advise you if they think you should add other experts (property inspectors, lawyers, and so on) to your team;
  • Voluntarily limit themselves geographically and by property type;
  • Are full-time professionals;
  • Have contacts;
  • Have time for you (customers and clients);
  • Are technologically savvy

Some of the requirements are due to some of Brown's pet peeves.

"There should be a clear designation of people who are part-time real estate," Brown grouses, "and they should be treated the same way people who have a learners' permit to drive a car are supervised. Like you have an adult in the car, part-time agents should have a full-time agent supervise."

Dummies goes on to suggest that consumers interview agents by asking the following questions:

  • Are you a full-time agent?
  • Whom do you represent?
  • What can you tell me about your office?
  • How long have you been an agent?
  • Do you have a salesperson's or a broker's license?
  • Do you hold any professional designations? Have you recently taken any real estate classes? What do you read to keep current in your field?
  • What do you think of the other two agents (name them) that I'm interviewing?
  • How many sellers and buyers do you currently represent?
  • Do you work in partnership with another agent or use assistants?
  • Is there anything I haven't asked about you or your firm that you think I should know?

These are questions that would make a good blueprint for a listing presentation, and any good agent should be able to answer them without going on the defensive. In fact, the answers could be a good offensive. But the agent has one talent that even the most FSBO-oriented seller does not have - the ability to correctly price property.

"The greatest value you get from a real estate agent is the negotiating of the property, to know the value of the property," advises Brown.

What does an agent need to know to be an expert? "Quoting the number of bedrooms and square footage because you are a member of the MLS doesn't make you an expert," says Brown. "Agents need to tour the properties that are comparable to the ones a consumer wants to list or sell - see the condition of the property. No two houses are comparable in terms of size and condition. I've worked with agents who know their neighborhoods house-by-house who can describe who owns it and who owned it before."

"As a broker, I insisted my agents go on tour. You have to know the comps because the most important question you will ever be asked is 'What is the property worth?' If you can't answer that, what good are you?"

Published: June 11, 2002

Use of this article without permission is a violation of federal copyright laws.




Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.


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Review - Honors

In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.

     

Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.


Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR

"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors

Coverage from WSMV, Nashville - 8-14-2007

That Interview Guy - Get Inside The Head Of Today's Generation
2007 AE Institute Session - To purchase
2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9
HouseValues Mastermind call - Parts 1 2

Blanche's fireside chat with Jeremy Conaway, HAR - Click here.

For more articles by Blanche, click here.








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