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Secrets to Success with RPR®

October 06 2013

rpr case study ressie wilson headshotRealtors Property Resource® (RPR®) is a free member benefit from the National Association of REALTORS®. The compelling cost-benefit ratio and impressive functionality create an appealing package, one that we were interested to see "in action." So, we've spoken with a variety of agents around the country to learn how they are using RPR® to be more successful. Our series of articles sharing what we discovered begins today.

Ressie Wilson is an agent working with RE/MAX® Allegiance in Washington, D.C. Within just a few moments of speaking with her, it becomes obvious that she's an especially articulate communicator and someone with an excellent understanding of her local real estate market. Interestingly enough, these are two of the things she seems to use RPR® for the most: communication with clients and educating herself (as well as consumers) about real estate.

Busy Agent Summary

We understand that you're busy, so we're going to provide a quick summary here. In one minute or less, these are the things you can take away from Ressie's success with RPR®:

  1. RPR® helps build your clients' confidence in you and your own confidence in your decisions.
  2. Give your clients a choice about the kind of information they want to receive, and then deliver. (Spoiler alert: they'll probably ask for "more, more, more.")
  3. Use the RVM to guide uncomfortable pricing discussions with sellers.
  4. Take an active role in ensuring an accurate RVM.

There are plenty more tips for success - read on for the full story. We also recommend getting better acquainted with RPR® in our product directory.

Why RPR®?

Every agent we speak to has their own story – how they discovered RPR®, why they began using it, and the primary benefits of the product. For Ressie Wilson, the story begins in early 2012. "When I found out about RPR®, I couldn't believe that such a valuable tool was available for free," she says. "The first time I used it, I was working with a young couple who had family in the real estate business. In that situation, you know you're not just working with the buyers – you're working with their family too. Using the RPR® report, I felt more confident that my clients and their advisors would know that they were working with an experienced, trustworthy agent."

What was the basis for this increased confidence? "Well," Ressie explains, "the information is thorough, credible, and condensed into an attractive, easy-to-understand format."

On a day-to-day basis, RPR® gives Ressie a clear view of what's trending in the community she serves. "I don't feel like my analysis of a property is complete until I run an RPR® report," she says. And she always includes an RPR® report when she's presenting to a new buyer or seller.

RPR for Sellers

For Ressie, the largest benefit of RPR® in working with seller clients is during difficult pricing discussions. "Using RPR® helps me demystify the pricing process," she explains. "The RPR® report helps sellers understand the differences between their home and another home with similar square footage. It makes them more comfortable with the listing price we choose."

RPR for Buyers

"When I'm talking to a new buyer, one of the first questions I ask them is what kind of information they want, how deep they want to go," Ressie says. "Usually, their response is, 'the more, the better.'" For this reason, she finds the RPR® report especially valuable.

Ressie has found RPR® particularly helpful for relocating buyers. These folks are new to the area and need to understand neighborhoods that cover a broad geographical region. RPR® saves Ressie time pulling all the data together and helps the buyers make a better decision. "I love the RPR® Neighborhood Reports," she says.

RVM Accuracy is in Your Hands

The Realtors Valuation Model® (RVM) is a property value estimate provided by RPR®. Ressie does feel that the RVM is generally accurate, however, "As neighborhood experts, we have additional information that can't be reflected in the data set that is used to calculate the RVM," she says. For instance, things like a kitchen remodel or stellar landscaping make a difference in the listing price of a home but may not be included in the RVM. RPR® has given agents the power to add-in these details to ensure that the RVM is even more accurate. This is visible in the "Refined Value" of the property, which can be easily adjusted based on basic facts, home improvements, and market or home conditions (as seen in the image below).

rpr case study ressie wilson

About Ressie Wilson

A native Washingtonian, Ressie started her real estate career with RE/MAX® in 2000. She had a background in property management, so it was an easy transition into real estate sales. She is a member of the National Association of REALTORS® and is licensed in the District of Columbia and Prince George's County. She is a graduate of the Real Estate Institute and a Certified Distressed Property Expert®. She specializes primarily in residential sales and, especially since 2006, deals in distressed properties quite a bit.

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