Hello! Welcome to Todd Miller TV. I wanted to start this off with the title of it, why I picked this title, it’s called: Why we need Real Estate Agents; and you’re probably thinking “well Todd is this is self serving, you’re a Real Estate agent.” Well we’ll start off an article. They’re just came out yesterday, the guy who started the website: forsalebyowner.com just sold his house in New York with a Real Estate agent, paid the 6% commission to the agent because obviously he couldn’t sell it himself.
He tried to sell it himself, he couldn’t do it. He got not only with what he was trying to sell it for. The Real Estate agent said “no, we can get more way than this” he didn’t believe him, they put it on the market, the agent did what he said, he got more money than, way more that the guys was gonna get, far exceeding the 6% difference. So there was actually value, it was actually a real monetary value. So this is, these are some of the reasons why a lot of people when they look at the whole process they take well, I can make a website and people out their properties there and we won’t need realtors anymore. This is why: first of all, the data in an MLS, or the data in any data system is only as good as accurate as it is. What that means is, if a data is not accurate, then nobody is gonna use it. Can you imagine: Home sellers with basically, basically autonomously being/whatever they want about their house. Misdating square footage, bedrooms and all kind of crazy stuff. Being in charge of that, because they have a self interest. They’re gonna just, you know, lie. Okay? And buyers would get frustrated and wouldn’t/it wouldn’t be reliable. Two is, is, that it’s expensive to maintain those systems. I mean the current, when you go on realtor.com or any of those national websites that are polling form the MLS’s, they just look so easy. You make the website, the data is there. Oh Gosh! Well actually it’s not that easy. It take a couple hundred, thousand Real Estate professionals everyday, making that data. Keeping it updated. Another reason, could you imagine the chaos there would be, once a guys sells his house, he get under contract would you say, he doesn’t go change the status, people are still calling, emailing, or looking at the house, you know, it would be a mess. So first of all, the data itself, you couldn’t reproduce it. It’s no that easy! we’re talking, it takes Real Estate professionals all over the country, you know about a million of us, to create that data, and we share it with you guys. We share some of the data with all of you. It looks easy, but really isn’t. The second thing is, how are you gonna handle access and qualification?
Seriously! Are you really gonna make yourself available to leave work, you know 10 in the morning, because somebody said they’re in front of your house, they wanna go see it. I mean, I think most people realized the logistics involved. Also how you’re gonna screen and know these people aren’t trying to case your house. They’re gonna rob you and all this other crazy things. Real Estate professionals spend a ton of time. We’re gonna finance your prequal, we meet ’em, we interview ’em, we knew who they are before we bring them in your house. So, they may be new to you, but they’re not new to us. We knew who this people are. Those two things in themselves” One: the information being correct, and then two: the security, the safety and all that. Are easily adjusted themselves with the 6%. So you can basically see everything else we do, as a service, we sort of do that for free. But not really. So, those are basically the two main aspects of why the Foley of I’ll just create a website where people can do that. The reason why it looks easy and why this process is very stream light, isa ’cause professionals, Real Estate professionals, made it that way for our benefit and for yours. Meaning, we made the whole process very step organized, very easy, the informations out there so that we as professionals could do our job. So we could go to our MLS, pull accurate data, give you accurate data, and get you through the process. If no one’s gonna pay, the billions of dollars that it would take to put that information together, which nobody’s gonna do, no one’s just gonna throw out a couple billions dollars to create this exchange. And then keep it updated on annual basis. I’ll just give you a perspective here, and when you say “well it’s not that much money” Real Estate agents, commissions paid per year: about Fifty Billion Dollars, that’s how much real Estate agents across the nation in a year are paid in commission. And a lot of that money goes right back into our MLS to maintain the data system. It’s not as easy as it sounds, you’re gonna always need an agent, and I’m not saying everyone uses an agent, some people don’t use an agent and I think that’s great! But most of you,
Ninety something percent of you, you’re gonna need an agent, you’re gonna need our data, you’re gonna need our services, and I just thought it was interesting; the article, he started the site himself and what happened? His intent was to cut out the middle man so to speak, and what did he do? He actually added value because he had that middle man in there. That’s my update for today, and hope to see you on the future video. Thanks!