There’s always something to howl about.

Month: February 2008 (page 2 of 8)

Rock Stars Aside (Please, Lord?) My Take On What Matters

You’re a real estate agent? You wanna be a rock star? Be my guest, as there’s room for everyone and every approach. Frankly, as a graduate (with honors) from The Old School, I’d prefer a somewhat different approach, one that has survived the last several thousand years. I’ll get to that later.

First I’ll use a present day example of a different approach.

The example I’ve chosen is not a rock star but a sports figure. I think talking about real estate agents as rock stars has been, at least temporarily turned into the third rail. 🙂

For those not into football, specifically the NFL, there’s a running back in the league named LaDainian Tomlinson. (Known universally as LT) As luck would have it he plays for the San Diego Chargers. Simply put, he’s the best running back of his generation.

One must go into the archives of the 1960’s NFL highlight films to find a football player scoring a touchdown and reacting as if maybe he’s been there and done that a few times before. No dancing, no ‘look at me’ gyrations, no asking the crowd to cheer more loudly. When LaDanian scores, he finds the nearest referee and respectfully hands him the ball. On the way back to his teammates on the sideline he humbly accepts their heartfelt congratulations, then finds the bench and sits down until called on to do his job once again.

LT let’s his on-field performances speak for him.

Back to the different approach. I wrote a post last night…What Really Matters?… approaching this from a slightly different angle.

It’s known as The Old School.

The Old School teaches so many principles which these days are under attack. I’ll deal with just one here, one of my all time favorites.

RESULTS

Nothing trumps results. Let the glitzy agents do their thing as it won’t matter unless in the end they produce results. Same goes with vendors — those who offer a service or product consistently producing the promised results are still around. They are the ones who love BloodhoundBlog too. 🙂

BloodhoundBlog is all about results. It’s what drives the bus here. In fact Read more

Zillow.com announces its sponsorship of BloodhoundBlog Unchained

BloodhoundBlog has grown up with Zillow.com. We’re consistently second or third on a Google search for Zillow.com, and Debunking Zillow.com is one percent or more of our traffic every day.

On the other hand, we’ve also been big boosters of the tools Zillow has built to help sellers, buyers and in-the-trenches Realtors and lenders get the job done. We’ve written more about Zillow than anyone, anywhere. They’re one of our content categories — and that category is consistently popular with our readers.

Today, Zillow.com is announcing that they will be the premier sponsor of the BloodhoundBlog Unchained Social Media Marketing Conference to be held May 18-20 in Phoenix.

Here’s David Gibbons writing at Zillow Blog:

In 2008 we are increasing our bet on Realtor 2.0 and I’m excited to announce that the Bloodhound Blog Unchained conference will be brought to you by Zillow. Bloodhound blog is read daily by thousands of real estate professionals and is arguably the most influential blog read by real estate insiders. The blog’s written by Realtor 2.0 for Realtor 2.0. From May 18th to 20th the bloodhounds are hosting a conference that will distill the best practices for profiting from the revolution in social media and real estate. BHBU is also possibly the only Mortgage 2.0 conference of the year with a separate track dedicated to loan officers and mortgage brokers. If social media is part of your marketing plan for 2008 I recommend that you get to Phoenix for this event. Conferences are a great networking opportunity but I’m convinced that you will leave BHBU with much more.

Benn Rosales at AgentGenius.com broke the story with a quote from BloodhoundBlog’s Brian Brady:

Among the many potential sponsors who contacted us about Unchained, we selected Zillow for its leadership in the Real Estate 2.0 community. Its actions have always been consistent with its stated goal of being a media company aligned with real estate professionals.

Zillow.com has publicly announced its intention to provide a mortgage offering, as well as the current property database. As a mortgage professional, I anticipate this release and hope we’ll be able to feature at at the BloodhoundBlog Read more

Once More With Feeling- Mortgage Rates Are Determined by Mortgage Bonds (MBS), Not The Ten Year T-Note

Mortgage rates are volatile today…very volatile.  There are two underlying factors contributing to the volatility: suspicion of the credit quality of the MBS market and supply/demand imbalance (more people want money than is offered).

Why am I so adamant about the fact that the ten-year treasury note is not the determining factor of mortgage rates?  The statement is factually incorrect.  While the two securities often move in concert, polarity can occur and sometimes does; this is one of those times.  The ten-year T-note is considered the benchmark, not bellwether fixed-income security.  This means that all other securities are compared to the 10-year T-note (we call that the “spread”).  It is GENERALLY a guiding indicator of ALL rates, however, in times or crisis or exuberance, it can’t be relied upon for other fixed-income securities’ direction.  Spreads to the T-note widen and narrow due to extraneous variables.

The real estate industry is calling for higher professionalism among lending professionals.  Some REALTORs, however, are clinging to  the demonstrated neglect the mainstream media delivers (check the comments).  An argument that bankrate.com is the source of mortgage rate movements, because the “most originators use it”, is akin to suggesting that Zillow.com is superior in home pricing than the Multiple Listing Service.

Mortgage professionals have at least three MBS quote services available:

1- Mortgage Market Guide ($100/month)

2- MBS Quoteline ($50/month)

3- Rate Link ($45/month)

Four originators (Me, Dan Green, Rhonda Porter, Mike Mueller)  with a combined 2007 funding production in excess of $100 million, subscribe to MBS pricing.  Why?  We’re mortgage professionals.  We see the need to invest $50-$100/month in the tools that serve our clients’ best interests.

What can REALTORs do today, to help the mortgage industry improve its professionalism?  Well, you don’t have to rely on the government to make the world a better place.  Get educated by professionals in the know, and start asking loan hacks which MBS pricing service they have.  

Would you refer a client to a REALTOR that didn’t subscribe to the MLS?  Of course not.  Why?

Your clients are much too important.  Choose mortgage professionals carefully.

The Network — No Easy Duality

To clarify my little vision yesterday it will be helpful to explain what I see happening. I see demands for online RE companies such as Zillow and Trulia to do two things: one a demand from investors to make a profit and another demand from consumers for better, more comprehensive information. When I speak of monetization it’s because it’s a reality for them. I think RE companies will be forced to create alliances with local brokers so that good, contextual information is available for consumers to go along with pictures of homes and out of context estimates and partial information.

I’m not really overly concerned about this, it’s just interesting to think about how they will survive and change. I understand the “free” experience of searching for homes without being badgered or spammed by RE agents and vendors of all sorts.

But if they don’t make money, they won’t survive. I hear Homegain is making money and it will be interesting to see how their model evolves.

However, the Network I’m talking about is more in line with with what Greg writes about here.

The Network will not be web 1.5, it’ll be more like web 2.5 and it won’t be designed to feel good about doing good, it’ll be  about being excellent and benefitting consumers. The Network will be about individuals connected to other individuals with no power or control over one another, just a recognition of excellence. I say the Network will be 2.5 because personalization and context won’t be mastered for some time.

So it’s not an easy duality of those who are greedy looking to make a buck and those who are enlightened and open and good, it will be a complex variation of efforts that I think will coalesce along several different lines. The RE companies will compete for consumers, and many will compete mainly for traffic in order to advertise. They will have to offer value and someone will need to be charged. If they don’t offer value, there will be no one to charge. I suppose the value of the Listing Sites will be to show listings in more creative, informational ways. This can be done locally much better, once consumers fully Read more

Some Well Deserved Kudos…for some friends.

One of the things that the Greatest Real Estate Agent in the World has taught me (or maybe re-enforced to me) is the power of relationships and the wonderful power of giving. Paying it forward is more than just being nice, or the Golden Rule. It is a powerful marketing agent as well, when practiced with sincerity.

As controversies swirl and debates rage, I have 3 people that I simply want to thank.

They may not even realize it. Actually they might, I don’t know. But either way, they have inspired me by simply giving and sharing of their time and talents…not with the intent of an ROI, but with the intent of helping the new guy along get caught up in this thing we call blogging.

If you remember the story of Hansel and Gretel…they left a trail of breadcrumbs in order to find their way home. These folks leave their trails with an entirely different purpose…so that others behind them have an easy trail to follow in catching up. In my role as a teacher (and student) of all things technology and e-commerce to those in the real estate industry, here’s to the following fine folks:

Dave Smith – His most recent posts are very typical of his understanding of WordPress and of how to drive traffic to a hyperlocal blog. Thanks for building your reputation simply by sharing. It is an honor to call you a friend. And to think we got our friendship started with a post about In-n-Out Burger. Amazing, no?

Cheryl Johnson – I had not read your stuff prior to your addition to the pack of contributors here at BHB. Thank you for the tutorials and selflessly giving of your time to those who want to learn the art of WordPress. While I can find my way through code OK, there are MANY who benefit from your straight forward and easy to follow writing. We have never spoken and yet I can assure you that when we get to meet and hang out I will be a better person for it.

Greg, lastly, thank you. You are Read more

Do you want to understand what Web 2.0 means in your own life? On the internet, Socrates would have lived

I just wrote this in a comment to Kevin Tomlinson, but it’s important, so I want to address it in the larger arena:

On the internet, everything is Kevlar.

This is for real, and it’s a lesson people are slowly learning all over the globe:

  1. Muscle power accumulates, brain power does not. A group of people is no smarter than its smartest member, and the sclerosis imposed by group decision-making will tend to make a typical group seem to behave as though it were dumber than its dumbest member.
  2. Groups cannot interdict the flow of information, so there is no longer any way to prevent most of the people on earth from discovering anything they wish to know. The middle-men who have been disintermediated first were the people who wanted to prevent the other members of their groups from gaining free access to the truth.
  3. Even when they manage to cohere, groups have no power where they cannot amass muscles or accumulate weapons.
  4. In consequence, any competent individual can take on and defeat any group of people on the internet, no matter how large it might be.

Ergo, on the internet, Socrates would have lived.

This is the triumph of the Greek ideal, an amazing, world-changing accomplishment.

Technorati Tags: , ,

The language of real estate is photography; here’s how we talk in pictures with buyers, with sellers and with our vendor partners

[I’m kicking this back to the top. I posted this a week ago Saturday, but I think it might have gotten lost in the shuffle. If you saw it then, carry on with my apologies. But Mike Farmer’s comment to my Arizona Republic column about single-property weblogs made me think we might want to revisit these ideas. –GSS]

 
We talk in pictures, Cathleen and I do, as Realtors.

We’ve shown you this before, a lot of different times, but I don’t know if the point has sunk in.

We always have our digital cameras with us, and we’re always prepared to use photographs to illustrate what we are saying — whether we’re talking to sellers, to buyers, to relocators, to investors or to our vendor partners.

That much is as it should be — we all should be talking in pictures as much as possible.

It’s at the next step where I think we have a real advantage.

We’ve shown you our slide-show-based web sites before. We do these for single-property web sites/weblogs, but we also use them to preview homes for buyers, to document construction on new builds, to give sellers staging advice or to make a record of our staging efforts. We begin with the idea that we are going to talk in pictures, and then we do that comprehensively, in the most efficient way we can.

And how would that be?

We do it with software, of course.

I’ve written quite a bit about the application we call Slide Show Marge, but when I started doing things this way, I built my pages by hand, using search-and-replace tools and typing a lot.

We’ve been through Slide Show Bob, Slide Show Mel and several versions of Slide Show Marge, producing thousands of web pages, hundreds of discrete web sites. We knew we would be best able to communicate ideas about real estate in pictures, and we did that with alacrity.

Okay. With that as introduction, take a look at this website I made for a Usonian home in North Phoenix. I took these photos in July of 2005, and I hand-crafted a very similar website then. We were previewing this Read more

A custom weblog can be your home’s 24-hour real estate salesperson on the world-wide web

This is my column for this week from the Arizona Republic (permanent link):

 
A custom weblog can be your home’s 24-hour real estate salesperson on the world-wide web

I have an unshakable faith in the three P’s of home marketing — Price, Preparation and Presentation.

If the home is priced above its value to the buyer it will not sell in this market — it probably won’t even show.

If it is not well-prepared — repaired, staged, cleaned — to the condition implied by the price, it will not sell even if it does show.

Presentation is your Realtor’s job — or yours if you’re trying to sell without representation. I don’t have space to go into a full-blown marketing plan, but here’s an idea that can make a big difference for very little cost:

Give your home a blog.

Every home for sale should have its own web site. What makes a weblog useful and practical is that weblogging software is so easy to use. And the price to get started? Nothing.

Sites like WordPress.com or Blogger.com will let you set up a blog on a subdomain — an address like 123MulberrySt.WordPress.com — for free. Or you can buy your own domain — 123MulberrySt.com — for less than ten bucks a year. You can host your own domain for a few dollars a month, but using your weblog provider’s hosted option will work just as well.

What do you want for content? Photos — and lots of them. Good pictures of clean, well-lit rooms sell houses. Your text should be just-the-facts, nothing overtly promotional. Not only can people see through hype, it turns them off.

With a weblog, you can document your house room by room — or by the benefits to be realized from the home’s features and amenities.

Best of all, you’ll have a 24-hour salesperson working for you on the internet. Put your blog’s address on your flyers, in any advertising you do, in your Craigslist open house notices, on Zillow.com and Trulia.com. The more you can promote your blog, the more traffic it will draw.

You still have to be priced right. You still have to be prepared Read more

The Network — Excellent Real Estate Agents Wanted

Dead or alive. Just kidding.

How many excellent agents are there in your area? Well, first let’s define “excellent” so that it meets my purposes. There are successful agents who were born in the right family and have “excellent” connections. There are sucessful agents who are excellent in the old way of doing things and they will die successful doing the same things — I’ll exclude them from “excellent” because I am developing my definition of excellent as I look forward. There are agents who are successful because they tapped into a big local builder and will be successful as long the builder is building — maybe beyond if they can transfer what they have going on. But how many agents are excellent at providing service, wired to web 2.0, good salespeople (great at marketing listings), proficient at information management, have excellent verbal skills, have comprehensive knowledge of real estate, have comprehensive knowledge of the area, have great people skills, have the energy to incubate prospects and follow up, have the willingness to work with and represent buyers and have the experience to be called an expert? How many are excellent in these ways?

I don’t know, but I can’t think of many. (Of course, I fit all these requirements for excellence, but modesty prevents me from broadcasting it).

The consensus when talking to the public about agents is that so many are inexperienced, don’t follow up, are pushy salespeople, etc. — but then they go on to say that there ARE good agents and they are useful, helpful, worth their weight in gold, on and on with different levels of kudos or positive evaluation. Except for the diehard agent-haters, I think most people would say a good agent adds value to the process. (While here I’m talking about agents, in regards to the real estate process, please keep in mind all types of professionals providing RE services such as lawyers, inspectors, lenders and mortgage brokers.) 

This morning in my mind’s eye a vision formed out of disparate bits of thoughts that had been floating around in my brain for about a year. A group of brave souls Read more

The Odysseus Medal: The art of rhetoric — and the rhetoric of art

As I said yesterday, I had already picked this week’s Odysseus Medal winner, so I didn’t include his posts among the Short List of nominees. Instead, I’ll present them here. The Odysseus Medal this week goes to Mike Farmer for his tour de force series of posts on Web 2.0 and the real estate practitioner. Mike had an astounding thirteen posts on the Long List last week, but the eight posts (!) cited here are a cut above everything I saw last week. These are Mike’s essays, in chronological order:

If you didn’t read them — or didn’t read them all — making the time will repay your effort. Cathy and I were talking about thanking authors for the gifts they bear — not as fawning fan mail but as a simple expression of gratitude. I’ll thank Mike now for this compendium, and I hope you will take a second to do the same by email or in a comment on his weblog.

The Black Pearl Award this week goes to Set Godin for Advice for real estate agents (quit now!):

The second asset to build is permission. It turns out (according to the NAR) that 91% of all Realtors never contact the buyer or the seller of a home after the closing. Not once. Wow. Someone just spent a million dollars with you and you don’t bother to call or write?

The opportunity during the current pause (and yes, it’s a pause) is to find, one by one, the people who would benefit from hearing from you and then earn the right to talk to them. Earn the right to send them a newsletter or a regular update or a subscription to your blog. NOT to talk about what matters to you, but to give them information (real information, not just data) that matters to them. Visit Read more

Egoism in action: What should you do when a half-assed sock puppet makes a half-decent joke?

Laugh, of course:

What’s the difference between BloodhoundBlog and a porcupine?

With the porcupine the pricks are on the outside.

It’s quoted from Dustin Luther’s High Temple of Unidirectional Virtue. (“Where poking fun at other people is always wrong, except when we’re doing it.”)

The joke is stolen, of course, but it’s still funny. Anyway, who expects originality from trolls?

Technorati Tags: ,

The Odysseus Medal competition — Voting for the People’s Choice Award is open

We have 16 entries on the short list this week, out of an astoundingly long long list of 104 posts. I’ve already decided on the winner of the Odysseus Medal, so I’m not linking that way. Instead, this week I’m showing nothing but Black Pearls, practical hard-headed ideas for working better, faster and more profitably.

Vote for the People’s Choice Award here. You can use the voting interface to see each nominated post, so comparison is easy.

Ahem: Please don’t spam all your friends to come and vote for you. First, what we’re interested in is what is popular among people who would have been voting anyway. And second, I’ll eliminate you for cheating. Don’t say you weren’t warned.

Voting runs through to 12 Noon MST Monday. I’ll announce the winners of this week’s awards soon thereafter.

Here is this week’s short-list of Odysseus Medal nominees:

< ?PHP $AltEntries = array ( "Athol Kay -- Sunshine Is The Bomb Sunshine Is The Bomb For Real Estate Photos”,
“Brian Brady — Gene Simmons: Originality is Overrated
Gene Simmons: Originality is Overrated“,
“Brian Brady — Sins Writers Commit The Two Sins Writers Commit That Business Bloggers Can’t Afford“,
“Chad Smith — Starbucks Wi-Fi Starbucks Makes Decision That Could Save Real Estate Agents Money“,
“Cheryl Johnson — Static Page and Blog Page Coexist WordPress: Static Page and Blog Page Coexist“,
“Cheryl Johnson — Using FTP Using FTP“,
“Dan Green — The One-Day Change To Your Closing Date The One-Day Change To Your Closing Date That Will Save You Money“,
“Dave Smith — Hyper Local Blog Market Targeting Hyper Local Blog Market Targeting“,
“Jay Thompson — The Taxman Approacheth The Taxman Approacheth“,
“Jeff Brown — My Topic Wish List I Hope Unchained Considers My Topic Wish List“,
“Jim Cronin — Not Your Competition 7 Reasons Why Your Local Real Estate Blogging Peers Are Not Your Competition“,
“Jim Cronin — Website Working Against Your Career? Is Your Website Working Against Your Real Estate Career?“,
“Paul Chaney — Keyword-optimized blog posts Don’t tell me keyword-optimized blog posts don’t get Google’s attention, cause they do!“,
“Reggie Nicolay — ESignature Technology Is ESignature Technology Right For Your Real Estate Business?“,
“Sean Purcell — Think Cat Blog Want Hyper-Local Blogging? Think Cat Blog“,
“Seth Godin — Advice for real estate agents Advice for real estate agents (quit now!)“,
);
shuffle($AltEntries);

$radioGroup Read more

Has Web 2.0 Failed YOU?

Louis Cammarosano, of Home Gain, outlines his theory about the failed promise of RE2.0. He offers four thoughts to back up his premise:

1- Success has been marginal.

2- It’s TOO consumer-centric and neglects the real estate professional (I’m still trying to understand how the anonymous presentation from real estate professionals, at Home Gain, really puts the REALTOR out in front.)

3- User-generated content is biased and therefore irrelevant.

4- Re.net adopters are somewhat smug in our “secret” which eventually turns people off.

Louis is new to weblogging so I want to be welcoming. He’s also a big boy and can handle himself so I will pay him the compliment of being blunt. He started his weblog with the initial purpose of communicating with his subscribers. When he invited a bunch of real estate bloggers to contribute, he recognized that Web 2.0 has legs. The very platform he criticizes is the one he employs to deliver that criticism and that…makes no sense.

The kept promise of interactive marketing is independence. We look no farther than my co-contributor (on Home Gain) Jay Thompson for proof of that kept promise; independence. Web 2.0 disintermediates the BROKER and LENDER (in my case) if practiced correctly. It allows you to connect with consumers around the globe. 90% of the consumers are still going to use a real estate agent when buying or selling a home. While that percentage may drop, it will still be overwhelmingly large.

Why? Real estate agents (and mortgage originators) add value. If we can communicate that value proposition, directly to the consumer, without dependency on a Home Gain, a Countrywide, or a RE/MAX, to do our advertising, both we and the consumers win.

I continually proclaim that blogging isn’t the “little purple pill” to cure all of your marketing deficiencies. It is, however, an opportunity for you to find a large number of people, who when employing a long-tail search, want exactly what you can provide.

That’s not failure. That’s power.

Allow Me To Divert Your Attention For A Moment. . .

SO. What an entirely eventful week. When I’m done here, you may be shaking your head in disbelief, but YOU JUST CAN’T MAKE THIS STUFF UP. Every single thing contained herein is the truth, and all of it has occurred within the last 7 days.

First, on a routine visit to the doctor’s office with my oldest son Hayden, I am informed by the physician that he has a very irregular heartbeat, and needs to be transported to Phoenix Children’s Hospital by ambulance, immediately, for more thorough testing. Of course, there’s an 8 hr line at the hospital for the paediatric cardiologist.  Both of my sons are my absolute LIFE. You can imagine. . .
Photobucket

I’m happy to report that 48 excruciating life-times (hours) after that, my wife and I were informed that my son is fine. An exuberant new doctor made an overly cautious judgement call on a sinus arythmia (A common and harmless irregular heart-beat  caused by. . .breathing; it is especially common in children between the ages of 3 and 6).  Wow. That sucked. Try to settle in for some seriously needed “do-over sleep”.

Second, my cat Jasper, whom my wife and I picked up from the Humane Society in early January of 1990 passed away. This cat was 18 years old. He had been with my wife and I since just a few weeks after we began dating.  I’d never had a cat like this one in my life. He was the most mellow, laid-back, snuggly cat I’ve ever has the pleasure of loving. Here’s me and him a month or so after we got him.  (Don’t laugh at me. I was 18, and I’m fairly certain I was stoned.)
Photobucket

Eighteen years later, here we both are, much older and wiser. (This picture was taken about 4 hours before he breathed his last in my arms.)
Photobucket

About mid-morning today, as I’m burying my cat in the sunny spot under his favorite tree, my mother calls to tell me that my sister, who is 31 years old, and pregnant, has suffered internal bleeding from a tubal pregnancy. The baby is gone, and my sister comes close Read more

Practical Marketing With Twitter

We learned that we are not alone, yesterday. It might do us all some good to look outside our little world to see how other small businesses are using technology and new media. You’ll recall that I started tweeting rates about a month ago.

It is in this spirit that I offer you a series of articles, written by Jennifer Laycock on Search Engine Guide:

If you’re just joining the series, make sure to go back and read part one where I gave step by step directions on getting your Twitter account up and running, part two where I explain how to send messages and take advantage of the Twitter follow/followers system and part three where I explained how Twitter can help you meet new people. In part four, I looked at the traffic potential of Twitter and explained the value of retweets in making a link go viral.

Greg, I’d like to include her series in the Odysseus Competition.