Lately, there have been a couple misunderstandings about how to get the most value out of Privy Real Estate software for your business. To make sure that you’re getting the results you want out of the software, we want to clear up any misunderstandings, so you can close more deals in less time.
Myth #1: Privy is only for YCRE agents
In the beginning, Privy worked exclusively with Your Castle Real Estate, a Denver brokerage focused on investors. Some of you had memberships at the time, but left Privy if your agent left YCRE. Well, good news!
We still love YCRE, but we’re not exclusive. We work with all brokers and investors in each market that we are in, which means that you can sign up for Privy regardless of which brokerage firm you use.
Myth #2: Privy is about the algorithm
Yes, our algorithm rocks, and we use it to find you great deals fast. Some of the data you can get on the MLS if you spend the time searching, but some of it is exclusive to Privy like before and after photos, hold times, investor comps and snapshots of flipped properties.
So, can you get the data elsewhere? Sort of, but not really. It will take you MUCH longer, and it will be incomplete. So, don’t worry about our algorithm, just worry about how easy Privy will make your life.
Whether you’re an investor or an agent, we think the way we interpret and present data can save you hours a day, and make your life a whole lot easier.
Did we mention you’ll close more deals too?
Myth #3: You can’t analyze off-market properties on Privy
Privy isn’t just for deals you find on the MLS. We upgraded our off-market live CMA feature, so you can run comps in seconds on ANY property or ANY neighborhood, even if it’s not on the MLS. Realtors, your investors will thank you for this one. Investors, this is going to make your life a lot easier.
Myth # 4: You can’t find good deals on the MLS, so Privy isn’t worth it
It’s a common misconception, but based on the experience of our users, it just isn’t true. In fact, many of our users start off thinking this way, and once they experience the power of our Deal Finder, they realize that there were deals to be had on the MLS the entire time.
Unless you have a full-time data analyst on your team, chances are you are missing deals whether it’s because you don’t understand the neighborhood, you’re not aware of the ARV in a certain location, or you just don’t understand how other investors are making money in this market.
So, are there deals to be had on the MLS today? Definitely, but don’t take our word for it. Here’s what one of our users had to say...
Oh, I almost forgot. We've tracked 2,437 flips on the MLS in the Denver market in 2015 alone, with an average gross profit of $108,274. Someone is making a lot of money on the MLS, even if it isn't you.
Myth #5: Privy is only for agents
Privy is great for agents because it allows them to find and analyze deals for their investors faster, not to mention it gives their investors all the data they need to make quick decisions and makes their job a whole lot easier.
But, perhaps it’s investors who get the most amount of value out of Privy. Our data allows investors to access data they wouldn’t otherwise be able to find. It cuts down on the back and forth between agent and investors, and allows investors to find, analyze and offer on deals MUCH faster than using an agent as a middleman for the MLS.
Best of all, it makes the agents and investors job easier, and everyone wins.
Myth #6: Privy is only for finding deals
Yes, it’s great for finding deals, but some of the real value lies in analyzing deals, and sharing our Live CMA with all relevant parties.
Do you know what it feels like going from spending 10+ minutes on a CMA to having a one-click CMA at your fingertips? If you’re running multiple CMA”s a day, it starts to change your workflow and your life.
Share the link with your agent, investor, or buyer to quickly communicate relevant info to everyone on your team, or even the buyer for your next wholesale.
Let’s just say, according to our users, it makes marketing that next deal a lot easier.
Privy also helps you:
- Learn new markets fast
- See where other investors are having success
- Minimize risk
- Track properties through the flip cycle
- Learn what finishes to use on your next rehab
- Analyze hold times
- And much more…
Myth #7: Privy is just another expense I can’t afford
Everyone knows that time is money, but unless you’re saving a substantial amount of time, an expense is still something you’d like to avoid.
How much is 5 hours a day worth to you?
To me, it’s worth a lot. Some of our users experienced a time savings of up to 5 hours a day when they started using Privy. You could use that time to close more deals, find new clients, enter new markets and make more money. That’s worth something. That’s ROI.
OR, you could use that time to take the vacation you’ve always wanted, spend more time with your family, or get around to doing those things on your to-do list that never get done.
Either way, we think you’ll thank us for the time saved. After all, who wants to spend their days clicking around the MLS? Not me.
Check out Privy for yourself. Get the tools you need to work with more investors in more areas.
Get your share of the thousands of investment transactions (investment properties account for almost 30% of the properties closed in the market. You can probably use that at some point:) and see how you can make 2016 your best year of business yet.