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Category: Marketing (page 105 of 191)

October 22, 2007

The Odysseus Medal — 99% of all sub-agents don’t even exist any longer, but why should that matter to the Wharton School of Business?

by

Suburban Phoenix Real Estate Broker

Author website

I’m a busy boy. We’re busy with money work, but Cathleen has been sick, sicker, pneumoniated. The good news is, you don’t have to cut off your ear to take great pictures, you just have to hack like Selma on the Simpsons. I’m picking up the slack, plus I have a great new idea for BloodhoundBlog that we’ll be rolling out shortly. In any case, I might seem abrupt here, but that is no stain on the quality of today’s winning posts.

Jim Duncan was one of the first real estate webloggers I became aware of when we started BloodhoundBlog. We discovered the power of the long tail together in posts about dual agency. He is always to be found on the side of righteousness in real estate — ethics, education, putting the client first with first-rate service. He’s a great blogger, too, as he demonstrates with this week’s Odysseus Medal winner, Wither false blame?, an extended riposte to a particularly lame lamentation about imaginary offenses by the sub-agents who no longer exist in most states:

The author and professors make one accurate argument accidentally – until the real estate industry, mortgage industry, HUD, etc. embrace divorced commissions, we have a long way to go. Divorced commissions means simply that the buyer pays the buyer’s agent and the seller pays the seller’s agent. Until this is fixed, the perception will exist amongst those who don’t know any better – whether by unfamiliarity or neglect (as would seem to be the case in the Wharton professors’ cases) – that true representation does not exist.

I come not to condemn the professors (I have read the Mortgage Professor site for years), but to enlighten them to the wonderful world known as the 21st century and Buyer Brokerage. While the seller may pay my commission now, the loyalty and trust I am earning is the buyers’.

Here’s a proposal – First, apologize and clarify. Second, invite a guest speaker write a guest post on your blog and to explain to your classes what real estate agency and buyer/seller representation are. Explain how much the profession has changed in Read more

October 21, 2007

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

by

Suburban Phoenix Real Estate Broker

Author website

A dozen nominees again. It’s a workable number, and it gets us down to nothing but very serious posts. There are three from BloodhoundBlog here, but there’s nothing for it. Two of the three dominated the debate this week. If anything, I’m less fair to our contributors in the final judging, to make sure I’m being fair to everyone else.

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

Voting runs through to 12 Noon PDT/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 ( "Morgan Brown -- FHA secure Qualifying for FHASecure and Refinancing in a Changed Mortgage World”,
“Jim Cronin — Blogging for buyers Looking For Ready To Act Buyers? Blog These Proven To Succeed Real Estate Topics“,
“Dan Green — Housing starts Why The Terrible Housing Starts Number Could Be A Signal Of The Housing Market’s Recovery“,
“Jeff Brown — Social Security First Baby Boomer Applies For Social Security — Let The Games Begin“,
“Kris Berg — Paper trained Paper Trained“,
“Jim Duncan — Wharton calumnies Whither false blame?“,
“Dan Melson — Going vertical Economics of Home Ownership in High Density Areas“,
“Morgan Brown — Wholesaling DOA? Dead Man Walking – Wholesale Lending is Marching Towards Extinction“,
“Benn Rosales — Despised Realtor Realtor most despised – an open letter“,
“Brian Brady — Blog compliance Disingenuous Diatribe: Compliance is Crap-It’s About the Cash“,
“Kris Berg — Face time Face Time or Facebook?“,
“Jeff Brown — Hyperlocal blogging House Agents — Wanna Start the New Year Kickin’ Ass? Here’s How”
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    Deadline for next week’s competition is Sunday at 12 Noon PDT/MST. You can nominate your own weblog entry or any post you admire here.

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    • October 20, 2007

    Is Zillow.com shutting down? Could the media darling and incipient Double Jeopardy question be headed for the dead pool?

    by

    Suburban Phoenix Real Estate Broker

    Author website

    Not so much, despite a prank posting on the realty.bot’s forums:

    Zillow will be shut down on Nov 2nd

    Their revenue stream is in concert with the real estate market. They simply ran out of money.

    Hence no price updates for over a month.

    The Cluetrain runs on Saturdays in Seattle, so David Gibbons rushed in to quash the rumor (once I had asked for a comment, I should add):

    OK, OK – Zillow is not shutting down.

    Quite the contrary. I’m sorry that Zestimate updates are delayed – there’s a sticky post in the Zillow forum that explains this further. The short story is that we’re preparing for a massive update to Zestimates and data – and have had to freeze site data while that project is ongoing. I understand that it’s frustrating and ask for your patience for a little while longer.

    Financially, the company is very healthy – but thanks for your concern. Yep, Homer; we did just raise a 3rd round of venture Capital – $30M – for a total of $89M to date. Ad sales at Zillow are better than expected – please remember to support our advertisers!

    New data will be on the site shortly – and much more cool stuff will launch over the next 3 months. We’re not going anywhere.

    The rumor was obvious bunk, but it’s cool that it shook some news loose from the Zillowtree.

    Technorati Tags: , , ,

    October 19, 2007

    Cathy’s drama: Photos from the whatever-it-takes school of listing

    by

    Suburban Phoenix Real Estate Broker

    Author website

    These are photos from the listing I was working on last night. Cathleen took all the photos for this house. I can do a house a lot faster than she can, but she comes home with photos that are just stunning.

    Can poetic copy sell houses? Maybe not. Custom signs? It’s a long shot — but we do get a lot of sign calls. Elaborate web sites? You tell me. Photos like these? Everything’s a crap shoot, and, of course, nothing works if the price is wrong.

    But: If you assume that more than one house could be a good fit for that elusive buyer, then what should you do to make sure that it’s your listing and not the other guy’s that sells?

    Our answer: Whatever it takes. Dramatic photos can’t win the war alone, but they’re one more weapon in our arsenal.


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    October 18, 2007

    House Agents — Wanna Start the New Year Kickin’ Ass? Here’s How

    by

    Real Estate Investments Broker

    Author website

    First off, I’m gonna say right up front, I’m not a house agent, and haven’t been since President Jimmy was in office tellin’ all of us our attitudes sucked. Of course, becoming an ‘investment agent‘ back then wasn’t what one would call prescient timing. About the time I’d learned enough to become dangerous, we had what we now call a correction.

    Since everyone’s all excited these days about transparency, I thought I’d disclose I’m not a house agent, even though I’m about to give a boatload of house agent advice. Furthermore, the advice I’m about to give, isn’t new — it’s just my angle on things.

    I was a house guy for my first seven years. My main source of business was generated by farming activities. I’d read a few books, and was unimpressed. Then I was given one by my broker, and after reading it, I’d thought he’d given me the key to the vault. 🙂

    It was written by the owner of the well known real estate licensing school, Lumbleau. He was the founder, John J. Lumbleau. It told about a concept called Farming, which really furrowed my brow. Remember, this was the early ’70’s — farming? In real estate?

    Even though it involves a little technology, I guarantee you, if I can handle it, your Aunt Fannie can do it. My son Josh’s favorite question for me is, “You made that up, right? You can’t be serious, asking me that question!” It’s almost always a software or a basic computer question, so honest, the hi-tech will be easy.

    I’ve been speaking to a few agents around the country this year. I’ve said the same thing to all of them: Build a hyper-local farm as a website/blog.

    See? Told ya it wasn’t anything new.

    The problem as I see it, is nobody (that I’ve found so far) does it the way I think would work like gangbusters. I keep hearing agents, a couple whom I know, say they tried it, but there just wasn’t any traction. In my opinion they didn’t give it even half a chance to take its first Read more

    October 18, 2007

    Photos? Virtual tours? Video? Welcome to the world of words…

    by

    Suburban Phoenix Real Estate Broker

    Author website

    The poet gets the girl — and sells the house:

    Our homes are structures, shelters, domiciles. But the idea of a residence encompasses so much more than mere tentage, mere respite from heat and cold and wind and rain and the relentless summer sun. If all we needed was a place to escape the elements, we might just as well live in insulated barns.

    But your home — your residence — is much more than that. It’s love and marriage and family, of course, home and hearth, kith and kin. But at a more fundamental level it is a reflection of who you are, an enduring stake stuck into the earth that declares to all: This is who we are, this is what we believe in and stand for and cherish.

    This is not where we live, not how we live. This structure, this shelter, this domicile — this home — is our lives, as much an essential part of what we are as our heads, our hands, our hearts.

    Home is where the heart is? A home like this is the beating heart of lives lived wisely and well.

    Like love poetry, if you’re not right there, it’s treacle. But for people swept up in the swirling emotions of a home search, this is warm butterscotch syrup for the soul. This is the kind of stuff that puts us completely beyond the reach of the listers we compete against.

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    October 18, 2007

    Your house can’t be sold if it can’t be shown

    by

    Suburban Phoenix Real Estate Broker

    Author website

    This is my column for this week from the Arizona Republic (permanent link). I’m posting it now in the hopes that Realtors reading this will email it to all their sellers. I’m showing a lot lately — curse this slow market! — except I’m not because I can’t get into the houses:

     
    Your house can’t be sold if it can’t be shown

    Here’s a simple fact about the sale of your home:

    If I can’t show it, I can’t sell it.

    When I’m working with buyers, the ideal home is listed this way: Available, lockbox, vacant. The house is empty of occupants — although it would be great if it were staged — but there’s an MLS lockbox so I can get in with my party. I don’t want to have to call the lister, and I don’t want to talk to the seller. I just want to show the house.

    The next easiest homes to show are not very easy to show: Alarm activated. Now I have to talk to the listing agent — who may be unavailable. I can’t go into the house until I hear back from the lister, which might be hours too late. This is not the worst form of seller self-sabotage, but it can be more than enough to sell another home instead.

    What’s worse than an activated alarm? How about no lockbox? Now I not only have to make contact with the lister, we have to coordinate with each other. By-appointment-only listings might make sense at $3,000,000. At $300,000, you’re getting in your own way.

    Buyers hate occupied homes. They feel they are invading your privacy at the same time you are invading theirs. Occupied homes are almost always stuffed with stuff, which makes it difficult for buyers to imagine their own stuff in its place. Still worse, half the time, the sellers will be hovering around. Even if they’re not trying to eavesdrop, buyers will feel that they are.

    Pet advisory is another obstacle to be overcome. Now, even if the sellers have sense enough to be out of the house, I have to protect my party from the pets — Read more

    October 17, 2007

    Don’t live in fear of the NAR or your broker — disintermediate them!

    by

    Suburban Phoenix Real Estate Broker

    Author website

    The stakes are high, as Brian has pointed out. You yourself have been smart enough to build a Web 2.0 marketing strategy, but now you’re faced with the possibility that your broker, with or without the help of the brokers’ cartel, the National Association of Realtors, may try to take it all away. Here are some things you can do to pursue independence now:

    • Get rid of the licensing laws. A minimum standard enshrined in law becomes the de facto maximum standard. Consumers have been deluded into thinking that the fog-a-mirror license denotes quality, so they don’t dig deeper for the added-value you bring to the marketplace. Even better, if there are no licenses, there are no brokers to tell you what you can and can’t do.
    • But: That won’t happen, so work in your state to get rid of the broker level of licensing. This is already the law in a few states. Every agent can fly his or her own flag as an actual entrepreneur. Even if you should elect to affiliate with a Keller 21Max franchise, you’ll be at liberty to take flight whenever you want, since all your contracts will be your own.
    • But even that is probably a long-term proposition. What will happen if your broker tries to shut down your weblog tomorrow? You need your broker’s license now — or as soon as you can get it — if your state still makes the distinction between salespeople and brokers. Even then your contracts aren’t your own, but you will have the ability to plan an orderly exit. And, having that mobility, you will have the power to negotiate with your broker as an equal.
    • I mean no slight to our vendor friends, but take and keep control of your marketing technology. Of particular importance: If your broker controls your marketing, your broker controls your business.
    • I despise laws, so I have complete contempt for “reforms.” The only reform that matters to me is repeal, which never, ever happens. Even so, a “reform” that would make a remarkable difference in the way the real estate brokerage business is conducted — even Read more
    October 15, 2007

    Disingenuous Diatribe: Compliance is Crap-It’s About the Cash

    by

    Commercial Real Estate Finance Expert
    Structured Debt and Equity
    Licensed Real Estate Broker in AL, CA, and FL

    Author website

    Broker-controlled blogging was a hot topic this weekend. I tried to raise some eyebrows (and awareness) with my speculation about the internet land grab the employing brokers and banks might try.

    I think a few things might have gotten lost in the translation. While I said that the brokers and banks will claim that it is a compliance issue, I believe that the REAL reason will be that they want to control the marketing channel to the consumer. Here’s what I said, over on Active Rain:

    That will put pressure on the large companies to provide higher compensation to the more effective sales agents. That, will be the problem. Large real estate brokers and banks will severely curb the weblogging efforts of the individual sales agents in the name of “compliance”. In short, the behemoths will say that they can not adequately protect the consumer from the unsupervised local messages being offered by its sales agents. That, will be bunk.

    The end-game play, the brokerage firms and banks will make, will always be about the money. Control of the customer has always been a competitive advantage for a large broker or bank. If that competitive advantage is lost, the value proposition of a large firm is lost. They won’t tolerate that loss.

    What I’m saying is “The Compliance Argument is Crap- They Just Want Your Money“. I’m telling you this so that you are prepared when the NAR comes at you with the “Internet Compliance Memorandum” from their convention next month. I have no inside information, it’s pure conjecture on my part. This is, as Greg Swann would say, “evil dressed up in a Brooks Brothers suit”. My opinion isn’t biased against big brokerage firms, it will be even worse for the mortgage originators. Our evil is dressed up in custom made suits with Italian loafers- there is no way the big bank Presidents will allow their “salespeople” to live better than they do.

    Look at the follow up articles on Active Rain:

    A Florida broker suggests that brokers need to Read more

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    Welcome to BloodhoundBlog, the national real estate industry marketing and technology weblog written by, for and about real estate professionals. Better yet, welcome to the wired world of real estate. We are busily inventing Real Estate 2.0 – technology, marketing, service and salesmanship. Like all Bloodhounds, we are smart, frisky and fiercely independent. We've built a spot on the earth – beloved over all – where each one of us can be who we are, no matter who that might be. We are committed to an idea of excellence that will flush the bums, the con-men and the crybabies out of the real estate industry. If you yearn to have your failures excused, your moral lapses absolved or your boo-boos kissed, seek elsewhere. But if you are sick to death of mediocrity – welcome home. Read all about us, subscribe to our feed and steel yourself for the hunt. We work hard, we play hard, we learn everything we can – and we bow to no one.

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