Welcome to the Anatomy of a Sale. The focus of this content centers around the “anatomy of a transaction”. It may not be obvious when you are looking at pretty houses on the internet but there is an ad hoc team created as soon as you contact someone to inquire about a house or mortgage.
The large technology companies have done a tremendous job at providing content for you to look at. The reason that they have done this is to sell advertising and what they have done is astonishing. The most valuable companies now are tech companies that have no inventory and offer little in the form of direct services to client although this will change very soon. Zillow is now offering to provide real estate services instead of offering independent agents increased access to leads. I digress.
When you decide that you have a need to buy or sell, you start a sequence of events that will eventually include 4-8 different relationships with unrelated service providers. Examples are: principals to the transaction (buyers/sellers), buyer (purchasing) agents, listing (selling) agents, title company representative, mortgage representative, one or more inspectors, appraisers and home warranty representatives. You can make these choices by default as many do or you can be more intentional about in order to maintain certain standards.
The structure of the real estate transaction is the real culprit. Agents are typically solo entrepreneurs that must get the business, perform the service AND manage the transaction until the end. This is very hard to scale. The more successful agents have organized a back end to their businesses yet the talent level of these people is largely unknown by you. Big technology wants to introduce you to agents and let them do the work.
Understanding the functions of the different players can only benefit you. If you decide to partner with us or use our technology offering you will almost assure yourself of success because we connect the disconnects and give your transaction a BACKBONE. We identify the players and create a seamless communication line through your team while separating the access levels of the groups because the appraiser doesn’t need to see the same documents as your agent or your principal (depending on who is using this).
Please enjoy the video. I will be providing a link with the diagram of the transaction at a later date. If you wish to get more video updates, please subscribe to my YouTube channel.