5 Reasons why you should use an RPR® Report at your next listing presentation
You know that old saying, “You only have one chance to make a first impression”? Well, it couldn’t be more true than when describing a listing presentation appointment. You must show up prepared. You need to stand out from all the other agents the sellers are interviewing. You must prove your local market expertise. Without a doubt, you know you’re the best REALTOR® for the job, but you must convince the sellers.
You need a comprehensive, yet easy-to-understand report. You want something impressive, something to make you stand out. Enter Realtors Property Resource, NAR’s national parcel-centric database containing over 160 million properties. As a member benefit exclusively for REALTORS®, not only does RPR has all the data you need, but in a format sure to impress even the most picky client. Consider this:
- An RPR Seller’s Report can be quickly run on over 160 million properties in the country and includes data such as mortgage information, distressed information, tax assessment history, historical photos, and more.
- An RPR Seller’s Report shows detailed market activity over time, showing your clients exactly what is going on in their neighborhood. Do your sellers live in an area with many distressed properties? Are homes selling quickly with multiple offers? Charts, graphs and detailed market information are automatically included in the RPR Seller’s Report.
- An RPR Seller’s Report features a customized comp analysis. You choose the properties. Use your expertise to adjust the comps accordingly. The result: comps are displayed side-by-side for easy analysis.
- Has the seller done any home improvements? Make sure they know just how that $55,000 remodeled kitchen in 2011 is worth today. Or perhaps they are considering doing a quick bathroom remodel before the home is listed. Show them exactly what spending $7,500 will return in list price. Do they have the largest lot on the block? Your refined property value is included in your RPR Seller’s Report.
- Your RPR Seller’s Report can be displayed on your laptop, an iPad or printed out for display at your appointment. You can even quickly email your client a copy before you leave! The best part? It’s branded with your name, company and photo, so they know whom to contact for that listing.
Creating an RPR Seller’s Report doesn’t take much time at all. In fact, many ‘RPR All Stars’ brag about how quickly they have created reports that their clients thought they spent hours creating!
So the next time you book a listing appointment, login to RPR, search for the property, conduct your analysis and create an RPR Seller’s Report. And don’t forget to take that listing agreement with you…you’re going to need it.
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Kristen,
Great info! How accurate is the RVM data estimate that RPR comes up with? At first glance for one of my wife’s properties, we saw it was worth $250,000, but after running the comps of other houses in the area with the same square footage, it was worth only about $209,000. The seller sees this data, so how do you work around that objection?
Thanks,
Jack
I have been using RPR since beta. Unfortunately the valuation data across the board, automated, and comparables just does not compute any more on many of our properties. You’d think that the comparables would be easy to adjust, but when I select 3 comps which average 870,000 and the range shows 500,000-625,000 it just does not make sense.
Hey Bob! Great to hear from you! I’m wondering if you and I could connect next week and review this issue. I’ll follow up by email when I get back to the office.
[…] You know that old saying, “You only have one chance to make a first impression”? Well, it couldn’t be more true than when describing a listing presentation appointment. You must show up prepared. You need to stand out from all the other agents the sellers are interviewing. You must prove your local market expertise. Without a doubt, you know you’re the best REALTOR® for the job, but you must convince the sellers. Read full article here… […]
Was really looking forward to using RPR but without comp sold data it’s basically useless. Pricing is the most important part of a listing presentation. TX is a non-disclosure state AND my MLS is in one of the largest markets (DFW Area) but not on your list… – If it is not on your list, it’s of no value to me.
If & when that changes I will re-visit. However, a 75 page report may show the client how much data we have access to but I am afraid it’s overwhelming. Some of this data is just filler in my opinion. While it may be nice to live in a certain demographic area, I have never met anyone that refused or requested to look at a home because it was in a predominantly republican or democratic neighborhood.
It’s all nice, quick and slick but garbage in, garbage out. Without accurate MLS sold data, it can’t be depended on. If RPR is a wholly owned subsidiary of NAR, there shouldn’t be any problems getting MLS access to sold information. I pay NAR, TAR and CCAR MLS dues. I don’t know what the hang up is but once again, the DFW area is one of the largest markets in the state, you would think RPR, NAR & TAR could whisper in the local MLSs ear & get the data. My 2 cents.
Keith….right!
My impression is RPR is slick and verbose, where I want pertinent and terse.
The RPR tools are NOT professional. Specifying solds barred me from putting an upper limit on things like bedroom count…just a lower minimum. Whoever designed RPR obviously does not use it to make income.
So…what DO our NAR dues get used for? RPR is like the Air Force’s $2795 monkey wrench.
All you have to is uncheck the RVM estimate in the settings and it wont print and you wont have to explain it to client.
We live in a world of data overload. Make sure that the data you present to prospective clients is accurate, timely, and of value to the situation in question. Much of RPR’s data can easily be extraneous information, and we already have the technology to bury clients with data of spurious value. Spewing data to impress rather than inform isn’t wise. Demonstrating that you can discern the important from the trivial, and communicating that wisdom in an understandable, timely fashion
[…] all real estate transactions, there are two sides: a seller and a buyer. In our article, “5 Reasons to use an RPR® Report at your next Listing Presentation,” we showed you how RPR can help you secure that next listing. But that’s only half the story. […]
WARNING – The seller report shows agent-selected comps side-by-side with the subject property, but shows the subject property at the RPR est. value, NOT AT THE VALUE OF THE SELECTED COMPS! No way I can show this to a client. This insane design (support insists this is intentional) makes an otherwise helpful presentation completely useless for CMA purposes.
Today I was told that the tax assessed value of properties will not be updated until 2015. It currently shows 2013. When I show this to clients I must explain the data is not current. There is no access to the tax value field for the agent to update it. Frustrating.
I know a lot has gone into developing RPR. How many Realtors were involved in the development. Lots of data but it is overwhelming to a client. Got to be a better way to simplify the information into a CMA presentable format that can be understood by a buyer or a seller. Why don’t you find a way to simplify the data so a Realtor can have a bona fide gift to give to the client. A 40 -70 page document is way too much information. Present the information to the Realtor and let him/her select the comps in a simple format. You can do a better job for the Realtor that pays you dues. Please five some thought to a better simpler way to present the data. Good first attempt now please make the data useful to a Realtor in his presentation to all buyers and sellers.
[…] increase their business, impress clients and solidify a pricing opinion. We’ve given you “5 Reasons why an RPR Report is all you need at a Listing Presentation,” and “3 Reasons to Incorporate RPR’s Market Activity Report in your business.” But exactly […]
[…] identified 5 properties and then create a property report to send to the prospects. Bruce uses the RPR Seller’s Reports for this and says that he removes any unnecessary pages so that it’s not too big or overwhelming. […]