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There’s always something to howl about

Want to get on the Today show? First, get yourself a death grip on the obvious, then pimp it in a snazzy press release

I don’t want to be mean to Redfin.com. It’s Christmas, for one thing. Plus which, Cynthia Pang, Redfin’s PR Queen, is even nicer than David Gibbons. And, all things considered, Redfin’s latest bold PR thrust is not all that awful. But still, it is funny…

The fact is, these Dilberts don’t actually work in real estate, or they never have until now. Not just Redfin.com, but all the venture-funded Realty.bot mechanics. I think there were people at Zillow who really did believe that real estate could be sold without intermediaries. And Redfin beams with an infant’s delight every time it discovers something actual working professional Realtors have known for years — had to learn in order to survive as actual working professional Realtors.

But, take just a moment to consider this idiocy, which was on BusinessWeek’s Hot Property weblog earlier today. What is it? Fake news generated by a Realty.bot and spoon fed to a mainstream media outlet. The “story” itself is stoopid, but the transaction is atrocious, exactly the kind of media whoring that all of us should rebel against — exactly what the mainstream media has always been and what the world of weblogging should never be.

In this light, Redfin’s press release is not so bad. The advice it proffers is actually good, even if it is comically obvious to anyone who has gotten good at getting paid for doing this job. It is going to form the core of Redfin’s agent-training program, and that really is funny — though maybe not so much if you’ve sold a home with a Redfin agent who didn’t know this stuff.

In any case, it is in that light that I am going to cover it, albeit briefly. It’s funny to me. It should be funny to anyone reading this here. But it’s not as bad — all things taken together — as it might be.

So here we go, with a death grip on the obvious: “Seven tactics for selling a home.”

  1. Don’t overprice your property. You just can’t make this stuff up, kids.
  2. Set your price to show up in web searches. That means pricing in menu pop-up tiers — in round increments of $25,000. If you’re learning this from Redfin, shame on you. Interestingly, their examples — “$250,000 rather than $251,000, or $325,000 rather than $326,000″ — illustrate how club-footed is their thinking. Why would anyone price at $251,000 and not $249,000? Both are a mistake in the enwebbed world, but only one is a mistake with a plausible rationale.
  3. Debut on Friday. Duh. The justification is a computer analysis, rather than a reflection of how Days on Market works in MLS systems.
  4. Stay engaged with your agent. I kid you not: “According to several academic studies, motivated, active sellers are able to sell their property as much as 30 percent faster.” I’d ask, “Where would we be without academic studies,” but, presumably, I can’t venture a guess until someone does an academic study. Whodathunkit, though? Sellers who want their houses sold get better results than those who don’t! Amazing!
  5. Market the property online. This is not the self-serving Redfin self-promotion you might have expected by now: “[P]romoting the listings on craigslist resulted in an average of 6.8 online visits to the property for each craigslist promotion.” This can’t be news to anyone reading here.
  6. When selling your home, stay put. This is really the funniest of the bunch. Except for the very wealthy, no one markets a vacant house by choice. Either the sellers had to move out or a rental home has gone vacant. Even so, Redfin assures us that “vacant homes were 9.5 percent more likely to undergo a price reduction.” Ya think? Why?, you ask. The author of the academic reed Redfin is leaning on speculates that buyers thought the owners might be anxious to sell. Now that’s a profound insight into seller psychology…

    And finally…

  7. Wait to list your property until neighboring foreclosures are off the market. I’m presuming you can ignore that advice if you yourself are in foreclosure.

Okayfine. It’s not bad advice, even though it’s stone obvious, and even though there’s a whole lot more that could have been covered instead. Redfin is the mainstream media’s golden child for now, to be replaced by another beaming infant when it goes down in flames. It doesn’t do to begrudge it its train of fawning media mandarins.

For one thing, the world is ours in the long run. And for another, if even one seller decides to price his home to the market and not to his fantasies, the world will be a better place. So, with that as a fervent hope: Thanks, Redfin. Ya done good.

 
Update: I should have known better. Taking a page from Google and reading it backwards, the Glenn Kelman policy, invariably, is, “Always do evil.” Today advises us that, “Everything your agent has been telling you is wrong.” Moreover, “Toss out everything you thought you knew about selling your home.” Three more bits of fun, even so: RE/Max got to pay to promote this swill. Meredith Viera stupidly told the whole world that her house is overpriced and she will come down in price. And Kelman’s face is surely going to freeze in that horrifying rictus he thinks is a big smile.

Here’s real justice: Someday, an actual reporter is going turn to Kelman and say, “Glenn, you’re the expert. How do you set up a lease-purchase so the buyer doesn’t get screwed? What’s the best way to do seller financing — a contract-for-deed or a carryback? Under what circumstances should a buyer consider waiving inspections?” Just keep on smiling, Glenn. You’re asking for it, and you’re going to get it.

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  • 13 comments

    13 Comments so far

    1. Sean M. Broderick, CCIM December 13th, 2007 10:25 pm

      Here’s a few they missed:

      8. BOLD your online headline;

      9. Water the grass so the front looks more appealing in your online photo;

      10. Add an professional, attractive voice to your online home video tour;

      11. Add a site meter to your webpage and make it a habit to view your own page several times an hour to make it appear that your getting loads of traffic;

      12. Take out a 30 year term life insurance policy on yourself in the value of the sales price, so the buyers are guaranteed their money back, then advertise a free home** on the web.

    2. Sean M. Broderick, CCIM December 13th, 2007 10:35 pm

      Don’t forget #8 thru #10:

      8. BOLD your online headline;

      9. Put a site meter on your website and make it a habit to view it several times an hour to increase the traffic count to your listing;

      10. Take out a 30-yr term policy on your life and promise to name the buyer as beneficiary for the amount of the sales price. Then, advertise a “free” home on the web.

    3. Sean M. Broderick, CCIM December 13th, 2007 11:41 pm

      sorry for the duplicates.. it didn’t show up after I hit ‘post’ the first time..

    4. Paul Francis December 14th, 2007 12:16 am

      Very entertaining Greg! This “Duh” research performed by Redfin is certainly going to be the secret weapon that changes the real estate world and saves Redfin from having to spend all that Venture capitalist money on their PR campaign. Where do I apply so I can get this great training?

    5. Lane Bailey December 14th, 2007 7:15 am

      I guess I should just scrap all of my c21 trainig, and cancel my coaching. I can coast through CE… Redfin is there to help me. Led by their training Guru, Captain Obvious, with his super power to define the absolutely definable, and explain the well known…

      Maybe the media can tell people these new revelations and it will be easier for us “lesser agents” to talk to the public.

    6. Redfin Releases Selling Secrets at Condo Blog December 14th, 2007 8:33 am

      [...] Bloodhound Blog [...]

    7. Anthony December 14th, 2007 8:46 am

      Redfin Releases Selling Secrets…

      Here is the release…

    8. Jeff Kempe December 14th, 2007 1:03 pm

      Just when you think it can’t get any more silly, comes this:

      NAR is quoting Redfin in today’s online mag…

    9. [...] You can get all the details and all seven super-saver steps here. Why you can even get a condensed version straight from the National Association of Realtors (NAR) here. And if you want a report with academic-like footnotes, charts and even an appendix, go here!Better yet, read Greg’s take at Bloodhound. [...]

    10. [...] Glenn Kelman appeared on NBC. This time, he wasn’t the smartest kid in the class; he imitated Tom Bodett. Greg points out the “Duh” factor in the most recent Redfin Revelation: Here’s real justice: Someday, an actual reporter is going turn to Kelman and say, “Glenn, you’re the expert. How do you set up a lease-purchase so the buyer doesn’t get screwed? What’s the best way to do seller financing — a contract-for-deed or a carryback? Under what circumstances should a buyer consider waiving inspections?” Just keep on smiling, Glenn. You’re asking for it, and you’re going to get it. [...]

    11. [...] Like Brian Brady, Jay Thompson, Greg Swann, and others, I’m shocked what people can pass off as science to the media. Just because someone uses statistics, doesn’t make it true… and any study based on the people visiting Redfin.com, or the people who use Redfin’s services, will NEVER be a valid sample for making general conclusions about the market. [...]

    12. [...] No one can doubt Redfin’s Glenn Kelman is a master of publicity; witness his latest publicity coup: getting on the Today Show to talk real estate with Meredith Vieira. The re.net was abuzz, from Joel Burslem’s neutral coverage to the Bloodhound’s  semi-excoriating review to a withering ActiveRain critique on the “obviousness” of what Kelman said. [...]

    13. [...] But: not necessary.  Bloodhoundblog has been all over it, at its pithy finest.  See here.  And here.  And here.  Read the comments as well; in the latter, Glenn himself makes an appearance. [...]