Realtor.com Suspends AgentMatch

AgentMatch Suspended

AgentMatch Suspended

Realtor.com, in an effort to gain popularity and rank share among top competitors such as Zillow and Trulia have been working on a new feature called AgentMatch.   AgentMatch attempted to “rank” Arizona and national real estate agents in different marketplaces..  Their intention was to help consumers determine what real estate agent was the best.  For example you will see below how AgentMatch had some serious flaws making it a horrible idea.  The Real Estate community disagreed with AgentMatch and Realtor.com suspended the project.

How did AgentMatch get it’s agent data?

Realtor.com  had planned to pull data directly from local Real Estate Markets’ primary data source, the MLS.  Realtor.com could use data regarding how quickly an agent sold their listings and how agents listing prices compared to other agents.  This would provide a score for each Realtor based upon this data from the MLS based upon quantitative data.  This data isn’t sufficient in ranking Realtors abilities.  Try this example on for size:

AgentMatch Made No Sense

Why is the above data not the best way to determine which agent is right for the job?  It doesn’t take into consideration many other important factors.  For greater accuracy, qualitative data such as timeliness, responsiveness, communication skills and resourcefulness should factor in.

Check out this example:

An agent I have worked with for years came to me for help with one of his clients.  This particular agent was selling a condo for one of his Arizona clients.  The buyer was using a mortgage lender they found online.  The lender was not experienced with condo financing.  This is an example of why it is imparitive to work with an experienced lender.  At the 11th hour, the lender contacted the buyer letting them know that they couldn’t do the loan.  The borrower was stuck.

This put both the buyer and seller in a difficult position

The agent selling the condo went to find a financing solution.   He was not going to give up for the sake of all parties involved.   Here, the buyer needed this property for their son to live in while he attends college at ASU.  Additionally, the seller really needed to sell the condo as soon as possible for financial reasons.  Consequently, the agent called me and we discussed financing options that would save this transaction.  I was able to find a solution and the transaction is closing in 1-2 weeks.  In this case everyone wins and it was all due to this particular agent’s qualitative skill-set!

Similarly to the Terminator’s “rise of the machines” world, AgentMatch lacks the ability to use qualitative data in agent scoring.  As a result, that information is not factoring into this agent’s “score.”  How is his resourcefulness, determination, extraordinary negotiating skills and ability to keep all players on board while an alternative solution with a new Arizona Mortgage Lender is being worked out factored in?  To make it worse, the fact that this transaction is going to close beyond the original close of escrow due to another lender’s mistake would likely score against this agent in the AgentMatch world.

AgentMatch: Don’t Let the Door Hit You

The Real Estate community was relieved that AgentMatch was suspended by Realtor.com.  The public is better off for not unknowingly being mislead by AgentMatch!

By Jeremy House
Google

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