There’s always something to howl about.

Month: April 2009 (page 3 of 6)

Technology’s Challenge: Understanding How Cats Part with Skins

Several recent posts have had me thinking about just how technology isn’t addressing the needs of cats.  Needless to say, there are many different types of cats – cats that roam alleys picking through the remnants of fish bones versus the ones that eat Fancy Feast and sit on the laps of chauffeur driven owners who may, on occasion, stop at a traffic light seeking Grey Poupon.  It could happen.

I suspect the cat population is quite diverse – many having different likes and dislikes, perhaps differing motivations as well.  Given that some cats roam alleys versus sit in the lap of luxury, perhaps the roamers may be more self reliant- the “fat” cat perhaps in need of greater doting, relying on others to take care of their needs.  Needless to say, there’s a larger, even more diverse range of cats beyond the alley cat and the fat cat.

I reckon there’s a parallel between cats and consumers.

When it comes to measuring the success of  a broker and/or agent, furry walls are often designated as a sign of success.  Jeff recently commented that his hirsute success is based on results.   I have absolutely no doubt that his superior service would make him the Rockefeller of fur trading.  He knows his cats – but more importantly, his cats know him.  Perhaps not all his cats are “fat”, but they have a taste for Grey Poupon.

On the flip side, Greg’s recent post highlighted the self reliant cat’s approach to selling a home.   From Greg’s picture, it may be a good thing that cats have nine lives, because this cat is dead.

How are current technology solutions really addressing the differing needs of cats … er… consumers?

I found Glenn Kelman’s recent survey results enlightening.

Well last March we surveyed 1,058 people who were using our site about what they wanted in a real estate agent. Some of the answers were gratifying for us to see — transparency was tops on the list — but one that stood out was the answer as to why people who had already chosen a traditional agent had decided against using Redfin: 47% Read more

“No Matter How Good You Get, You Can Always Get Better…

… and that’s the exciting part.”  End Quote.

That’s a peek into the mind of the man who arguably will go down as the most dominant athlete of all time – Tiger Woods.

For those of you who aren’t golf fans, let me rewind a few years.  Tiger Woods was firmly entrenched as the #1 player in golf.  And by firmly entrenched, let’s just say that the #2 player in the world couldn’t even carry Tiger’s bag.

Yet, at the height of his dominance, Woods shockingly fired his “swing coach” and re-engineered his entire mechanical approach to the game.  Virtually everyone in golf thought he was nuts.  And the results were far from immediate.  In fact, some players on the PGA Tour even began referring to Tiger as “beatable”.

We all know what happened next… he won last year’s US Open with what basically amounted to a broken leg.  Woods refers to this victory as his greatest ever.

Here’s the thing:  Tiger Woods doesn’t share his secrets of success with his peers.  Any golfer looking to supplant Tiger as the world’s greatest player is going to have to figure it out for himself.

But for some reason, the sharpest minds in the real estate industry are willing to share what makes them successful with the rest of us.  Here are some of the questions I asked myself before committing the time and money to attend Unchained:

  • Can you create your own website without any help from anyone?
  • If so, how long does it take you to publish something worth seeing?
  • Are you ranking for the keywords your prospects are Googling?
  • Are your systems outdated and archaic?
  • Is there someone in your market who’s about to catch and pass you because they know more than you do?

Here’s another Tiger Woods quote from early in his career:

“Second sucks.”

If you live within 500 miles of Phoenix and you’re not committed to attending Unchained, chances are good there’s someone down the street who will be nosing up alongside you very soon.

I’ll be honest with you – I get the feeling my competitors are crawling up in the fetal position right now… cutting costs and wondering where Read more

How to sell every house in the neighborhood — except your own…

Even with as much grief as I lay on practitioners, I feel myself obliged to confess: I do not believe that any so-called professional real estate salesperson could come with with a marketing strategy quite as repellent as this:

Tipped by Barry Bevis: “Drove by this yesterday while showing clients homes in the same neighborhood. Average house in this neighborhood is $175,000. Nothing the age of the FSBO home selling for $200K. My clients laughed. We just put their house on the market ‘Bloodhound Style” and had it under contract in four days. I wonder how long the FSBO will be for sale!”

(PS: Our friendly visitors from the cute little yellow school bus have taught me that one cannot possibly be too obvious, so it is incumbent upon me to point out that the phone number and email address are not obscured on the original sign.)

I’ll Do It For Free… – “That’s What She Said!” (HeyCentralPa.Com: 5 of365)

My screencast on installing plugins (“Plugin: ‘That’s What She Said'”) is up at HouseYourMom.Com. [I’m particularly proud of the intro this time.]

Here are the plugins that I’ve loaded up on the HeyCentralPa wordpress install so far:

Advanced Category Excluder
Cforms
Exec-PHP
Foreclosure.Com
Headspace2
NextGen Gallery
Similar Posts
SimplePie & SimplePie Core
TubePress
WP-O-Matic
Kimili Flash Embed

I plan to go a lot more into these as I implement each one, but for now I’m wrestling with getting Tubepress to work correctly with the P2 page template. It works fine with posts, just not pages. (Anyone wanna take a crack at helping me find the problem? I’ll happily hook up some ftp access..)

On the “how’s this gonna go down” front, I’m still looking for that big (open minded) Central Pa Broker to sweep me off my feet. Despite my tough talk the other night, I’m chickenpoop to try to establish a whole new practice in a totally new market and am more interested in other endeavors, so how’s this for an offer?

If you’re a broker in CentralPa and you want to give all of your agents free hyper local niche pages on HeyCentralPa.Com, I’ll set it all up, manage the technical details, and do free “how-to-blog” workshops in your office for free!

Why? What’s the catch? Need more details? Use my spiffy Google voice button to get in touch!

Mortgage Market Week in Review….

Well it’s hard to believe, but another week has flown by.   Rather than spending a Saturday working on mortgage stuff and writing about mortgage stuff, I spent the day taking my 8 year old to a birthday party, cleaning out the garage and getting the pool ready for the season.  It was a good day for that.

But enough about me, it’s time to take a look at what’s happened in the financial markets this week.   Let’s look at a couple of key economic reports/financial news items:

Foreclosures – for the first three months of this year, many of the big banks and Fannie and Freddie had foreclosure moratoriums on.   What does that mean?   Basically that they stopped foreclosing on homes.  But, many of the big banks lifted the moratorium shortly after the 105% refi plan was announced and Fannie and Freddie lifted their ban on March 30.  The reports that I’ve read (and written about on Straight Talk About Mortgages ) show that foreclosures are spiking way up again.    What does that mean?  A couple of things: 1) Our inventory problems aren’t going to go away any time soon.   2) Bank earnings problems aren’t going to go away any time soon.

New Construction –Housing starts and permits both came in at pretty close to historical lows.   But frankly that’s not a horrible thing from a long term standpoint.   Let me explain: We have too much inventory.   In virtually all price ranges and virtually all markets, there are too many houses for sale.   So we don’t need builders building more houses right now because it adds to the inventory problems.    Also, we have a situation where in most markets, the number of foreclosures that are on the market is raising the discrepancy between the cost of existing homes and the cost of building a new home.  According to many of the developers who I’ve talked to, it’s almost impossible, in many markets, to sell a brand new home at a profit because of the pricing pressures.   So, until we can work through the inventory and also address the jobs issues Read more

Finally: A Heap of Daylite at the end of the tunnel (Finding a CRM that doesn’t blow)

Let me be honest.  I’ve been using Google Docs as my CRM for a while.  It’s been fast–I’ve got it mapped to a hotkey, and also on my Mac’s dashboard.  I can collect info on clients, contacts fast.  And I can highlight the ones I follow up with, owe something to, whatever.  It’s not perfect–I was trying so hard to love HEAP.  Heap has an utterly perfect ethos in what a CRM should be, but it’s not ready yet.  It’s tantalizingly close, but seriously, it’s not ready as a point of fact.

Your mileage may vary, but my CRM requirements are as follows:

  • Hotkey accessible.  Taking the time to interrupt your thought, mouse over, click a menu, work the mouse over the word you want is a clumbsy solution.  I want to create contacts, appointments, tasks, documents and emails with a keystroke.
  • Activity Series Oriented: If I build blogs, there are the same tasks that have to get done with each little project.  Install Theme, tweak CSS, whatever.  I  don’t want to have to remember all of ’em for the different things we do over and over again.
  • Desktop Speeds: My data.  I own it.  I need it fast.  I don’t wanna wait for a web query when I’m at my desk.
  • Email that works, auto drip marketing. I want to assign criteria based drip marketing campaigns and have it get handled.  (A second feature would  be compliant opt outs, but I don’t care that much)
  • Documents of some type/mail merges: I don’t wanna work around the software.
  • Custom fields and custom views: I wanna put what I want in the damn thing, and I wanna see it how I wanna see it.
  • Custom Lookups: I want to look up by WHATEVER i want to look it up by.  Nothing in the twitter field?  Whatever.

Heap does much of this, but the interface is aggressively bad.   User/Contact/People/Leads.  All that stuff makes no sense, and the tagging feature is stupid and bolted on, and it’s not good enough to be a ‘daily driver.’

The best CRM I’ve ever used was ACT! 6.0.  Alas, ACT! was bought from Symantec by BEST software, and Read more

Sometimes It’s Good to Go Home

I just returned from a brief respite – short of 2 weeks – in Dallas.  I went home.

I needed to get away from the day-to-day grind that my life had become, seemingly caught up in the negative energy that seems to have taken over.  My dad just had knee replacement surgery and I thought it would be a great opportunity to help out and reconnect with my folks, my brother and his family.  I also wanted to spend some time refocusing my efforts on my business plan to create a web-based community for do-it-yourself buyers and sellers of real estate as well.  I had a full plate.

While I did get a plan down on paper regarding my new business idea, I realized I accomplished so much more – quite honestly, it was a significantly more valuable exercise.

I became grounded again.

Ever feel like you’ve lost your mojo?  Needless to say, many of us are facing really troubling circumstances, but it so important to keep perspective on our lives.  Sometimes when we take a brief moment in time to step away from our crazy lives, we get to experience timeless treasures.

I consider myself blessed to have wonderful, loving parents.  My folks are getting older – edging into their late 70’s.  Still in great health and active, but beginning to show the signs of lives entering into dusk.  I wanted to be around to help out – let my mom have some time to do her own thing.  Just be there.

But something both unsettling and comforting at the same time happened.  I saw for perhaps the first time my dad completely vulnerable.  This is a man that never cracked.  A West Point Grad – a man who served his country.  Raised 7 seven kids.  Proud, disciplined, smart, kind, but a tough son-of-a-bitch.  He’s mellowed over the years for sure – but my brothers and sisters and I often laugh that he’s gone from a Type A++ personality to maybe an A-.  The surgery seemed to have broken him – just a bit.  I wasn’t prepared to see him like that.  I felt like I Read more

Audience Participation Request: Wanna Try Out The First Self-Hosted, Social Networking Real Estate Blog? (HeyCentralPa.Com: Part 4 of 365)

Yep, I’m head over heals for Auttomatic’s P2 WordPress Theme.

HeyCentralPa.Com is now up and running and awaiting your participation!

Here’s what’s gone on today:

  • Customized the CSS with the help of this great free palette generating tool.
  • Generated A Horizontal Menu (P2 Doesn’t Come With One).
  • Uploaded and Activated A Great Custom Registration Plugin and included the appropriate login/register links on the site.
  • Tweaked The Main Index Template File So That The Part Showing Up Below The Pictures Would Be SEO Cool and hopefully Properly Draw In Visitors.
  • Integrated The Slideoo Horizontal Flickr Sharing Script so my header would be dynamic, colorful, and engaging. (I know, probably not the best for SEO? Eric?)
  • Which brings me to my final feat of the day. I used the flickr integration explained in this screencast to make it dead simple for me, or any of the site’s contributors to post to the site.

    So please…go ahead and give it a try by forwarding any old pic as an attachment to an email to “mores26into2blog(at)photos.flickr.com” ! [Please feel free to have fun and send some crazy stuff 🙂 — I’ll remove the test posts after we all have a good laugh…]

    I’m really trying to create an environment that will make it dead simple for agents-partners and other contributors to help enhance the site with their content. So if I may ask one more favor…If you have a minute, head on over to http://heycentralpa.com then register yourself and post a comment on the home page letting me know what you think of how it’s coming so far.

    Thanks much!

Three songs for freedom, fellowship, and the resistance to oppression

It’s been ages since we’ve heard any Unchained Melodies and we’re just under two weeks away folks. Don’t you think it’s about time?

All three from Eddie, to me, to you. This one’s for my friend Nick, the Unchained attendees, and believers in freedom.

“Rise”

This ones for The Dean of Geeks, who I’m sure is up crafting the edges of the next scenius. The 2008 theme song.

“I won’t back down”


… and thanks for the gift of admin rights on BHB 🙂

This one’s for young Carl Joseph Walker-Hoover and a story that won’t leave anyone alone, even the main stream media, who otherwise would ignore such a tragedy.

“Don’t be shy”

You all have a good weekend and love one another.

Loading Up A Twitterfunky Theme + “Hey…this aint no Localism!..If I Ditch The Ad Revenue Angle and Build My Own Darn Team Will You Believe Me?” (HeyCentralPa.Com: 3 of 365)

A Screencast on HeyCentralPa.Com’s theme choice and a bonus cast on ditching BHB style ugly permalinks are up over at HouseYourMom….

I’m going to go ahead and give the very young and probably buggy P2 WordPress theme a shot I think. It touts a twitter like interface that will allow visitors to interact with eachother, or hopefully the agent contributors on the site. In the coming days I’ll tweak it up so that the “Hey Watcha Up To” reads something more target keyword and audience appropriate, but otherwise, I think this might have been a great find.

Why? Well I mentioned in the comments of my post yesterday that I plan to do a lot of belly to belly promotion of this thing all around the Central Pa area. So my conversation with local business owners might go something like this:

“Hi I’m wondering if you wouldn’t mind me taking a quick video of your establishment and posting it on HeyCentralPa.Com, the new web magazine I’ve created. I’ll also be happy to post a link back to your website alongside the video. Oh yeah…and if you’d like to freely plug yourself or your business on the site, I’ll be happy to email you login info so that you can freely self plug on our home page.”

What’s everyone think?

Blammo Right! Will I need to cold call expireds or sit open houses with a networking hook like that?

And going back again to yesterday’s post….

Teri helped me realize in the comments of that post that the ad revenue generating, get-agents-to-blog-for-greed’s-sake approach could be flawed. This thing is pretty much meant to be a “take the juicy agent content back from localism” play, so I’ve happily begun to rethink agent involvement piece of the puzzle. But I’m still Redfinning my gameplan to a certain extent…

Any suggestions out there other than:

“Ryan…Suck it up! Ditch the mom jokes and the freelancing real estate tech guy charade and build this MMBB thing for YoSelf!” Stop trying to find an enlightened broker so far from a major metro! Quit dreaming about building an selling a Read more

Personal Relationships 1, Cold Technology 0

I hate to admit it — I so often have to — but Greg Swann was right. A few months ago,we got into a debate about whether venture-funded technology companies were squashing little brokers. I told Greg the little brokers had no brains — why aren’t they all trying to build a great search site? And Greg said we had no heart — which comes in handy when you’re trying to connect with a client as a human being.

Well last March we surveyed 1,058 people who were using our site about what they wanted in a real estate agent. Some of the answers were gratifying for us to see — transparency was tops on the list — but one that stood out was the answer as to why people who had already chosen a traditional agent had decided against using Redfin: 47% cited a pre-existing personal relationship and 33% talked about “just clicking with someone.”

Translation: Greg was right. It’s probably why our partner business — which allows people using our site in the Inland Empire or the California wine country to meet a partner agent right off the bat — converts better than our direct business.

Meanwhile, with our own agents, Redfin will keep trying to strike a new balance. My movie script for Redfin’s place in real estate has always been “Revenge of the Nerds.” Greg’s has always been something written by Aeschylus. In fact, Redfin’s story is more like one of those crazy Choose-Your-Own-Adventure books written for 12 year-olds, which is only to say that we’re still finding out way.

Of course, it’s telling that our guide on this journey is a big pile of data. We didn’t believe Greg until we ran a survey with 1,000 data points soI guess that proves Greg’s point right there!

Handling a deal with a foreign buyer or seller

I am an international tax lawyer. I handle lots of real estate transactions with foreign sellers and buyers. I don’t have a real estate license, and I don’t ask for a piece of the commission. Got that out of the way for ya, didn’t I? Here are a few things to keep you sane when you handle a deal like that

Two mothers

“When Mama’s happy, everybody’s happy.” And in a real estate deal with foreign players, you have two mothers. Keep them both happy and you’re likely to close your deal on time.

Mama number one is your title officer. Ask a simple question. Demand a yes/no answer. “Have you handled a real estate transaction with a foreign seller/foreign buyer in it before?”

Don’t say “Can you handle one of these transactions?” Because of course they CAN. Right? And they will.

Right up until 5 days before closing and they figure out that the seller is a Bahamas corporation and they start insisting that you register the corporation with the Secretary of State and get a certificate of good standing from Sacramento and the Bahamas and oh, who are these people who claim to be the officers?

Mama number two is escrow. Especially for a foreign seller. Call up your escrow officer and ask the same question: have you done one of these transactions before?

Loyalty matters. But business is business. You don’t want your deal to be the crash test dummy. Let them learn on someone else.

War story: two summers ago, I handled two very similar deals in Southern California at the same time. Different title companies. One inexperienced title officer, one experienced. The novice title officer cost the buyer an extra $5,000 in legal fees to get the deal done.

Foreign seller

If your seller is a foreigner, here’s your checklist:

Tax ID number

The seller needs a U.S. tax identification number. More often than not they don’t have one. Go to the IRS website and pull down Form W-7 for a human seller. Get in Read more

The epistemology of open-mindedness…

In email to me this morning, someone said, “Your site is major-league high-brow.” I thought that was a funny observation, but I also know there is some truth to it. I don’t know that we’re all that high-brow-civilized, but we do try to take up ideas in a very penetrating way.

Epistemology — the philosophy of knowledge — how can you verify and validate your knowledge? — is an idea I’m always bringing up. There is no limit to how much better we can get at thinking.

This is a video I saw yesterday at Little Green Footballs. This is on-topic for BloodhoundBlog only in the absolute broadest sense, but BloodhoundBlog is all about looking at things in the absolute broadest sense. In any case, this is a very nice example of video doing an intellectual job that would be much harder to pull off in prose.

The two dirtiest words in English are “tax” and “attorney” — but new contributor Phil Hodgen is both…

Phil Hodgen has been a friend of BloodhoundBlog for a long time. He’s an international tax attorney working out of Pasadena, so why would he be reading the dawgs? Marketing and iconoclasm, the only two things we actually understand.

At Chris Johnson’s suggestion, he joins us today. Here’s his bio:

Phil is an international tax lawyer. Home is in Pasadena, CA. Clients are all over the world. Yes, he’s of those people you read about, setting up foreign trusts and other weird stuff in small palm-fronded countries. His clients like U.S. real estate, although at the moment they are just kicking tires. Phil makes complex tax stuff easy to understand.

Sounds like a giant killer to me. Let’s give him a big axe and see what he can do with it.

Shop Talk: How Are You Collecting on Bad Debt?

Seeing that 2007-08 were extremely rough years in our industry, we at Top of Mind experienced a significant rise in slow-pays and no-pays.  Ultimately, we found ourselves with high-five figure 90-day+ receivables.  Anyone who’s ever been in this position surely is aware of how uncomfortable it can be calling clients and asking for past due payments.  After all, if we’re doing our jobs right – our clients ultimately become our friends.

There are basically two common approaches to collecting on receivables – and they’re polar opposites of each other:

Approach #1)  The aggressive, finger-pointing, condescending way: I think this is the way most businesses pursue bad debt.  Heck, when I was young and ignorant, I let a few personal account balances go late.  The increasingly frequent calls I received from my debtors became threatening and borderline obnoxious.  Certainly I wanted to make good on my debt, and ultimately I did.  My motivation in paying the debt, however, wasn’t to please these bill collectors – it was simply doing the right thing and paying my bill as soon as I could.  As far as my debtors were concerned, their tactics worked.

Approach #2)  The compassionate, understanding and communicative way: I’d like to share how I’ve handled our bad debt over the past couple years.

  • I do not delegate collection calls to my employees.  In my opinion, this is the kind of s**t work that causes employees to dread coming to work.  It isn’t my employees’ fault that we let some of our clients get behind on their bill, why should it be my employees’ work to clean up a mess management created?  99% of collection calls come from me as the President of our company (with the other 1% coming from my partners).
  • I have one ground rule on how I treat a debtor – if they’ll communicate with me, I’ll bend over backward to help them.  Clients who owe us money aren’t treated as “B-class” clients.  I use my CRM system to take copious notes on all phone conversations and email threads – and I set reminders to check the status at reasonable intervals (depending on Read more