There’s always something to howl about.

Category: Marketing (page 139 of 191)

We’re on the move: If you add a comment tonight, it will probably be lost

I have what I need to start moving BloodhoundBlog. Once I’ve posted this message, I will be backing up our MySQL database to get it ready to move. The weblog may continue to seem to work for the next few hours, but any changes made to the database — any new comments — will not be carried over to the new server. I expect to have everything back up by around 4am MST. I will post an amendment to this post when we are back to normal.

For now: Go to bed. In six hours or so, I’ll to the same.

 
We’re back! I thought I had everything about two hours ago, but I found a problem with some high-order characters that I had to fix by hand. “Ask the Broker” is acting flaky, but I’m hoping that’s DNS related. Let me know if you see anything broken.

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Building a better dog house for BloodhoundBlog: One down, dozens to go

I have successfully migrated a hosted domain with a working WordPress weblog to our new host. I’ll do two or three more for practice. If all goes well, tomorrow late we’ll move BloodhoundRealty.com and BloodhoundBlog with it.

For what it’s worth, the preliminaries were all kind of tricky and exacting, but the denouement was almost an anti-climax. Wicked simple, and everything just worked. Could be beginner’s luck, but I have plenty of opportunities to gain experience.

More news when I have a more elaborate plan.

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Is Trulia.com in the MLS business? Is REBNY in the dumbed-down listings business? Or will they meet in the middle?

Trulia Blog:

Trulia was selected by the Real Estate Board of New York (REBNY), New York City’s largest and most prestigious real estate group, to power the first real estate search engine dedicated exclusively to New York City-based listings.

More:

What does this mean?

For consumers, the new search engine will bring together residential property listings from REBNY-member real estate brokerage firms onto a single public Web site for the first time. For the non-New York readers out there…it’s worth noting that Manhattan’s hugely important real estate market does not have a widely used MLS that would allow access to all listings through any single Web site today.

A few dozen ambiguous fields is not an MLS system, but it’s better than what New Yorkers have now. And, who knows, maybe the horse will learn to sing…

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Realty.bots will make sellers happy

This is me in today’s Arizona Republic (permanent link):

 
Realty.bots will make sellers happy

We talked last week about the move by Realogy Inc. to supply millions of real estate listings from its national brokerage chains to upstart Realty.bots Google Base and Trulia.com. This puts the Realty.bots on the map. Who else is affected?

Sellers should be happy. Realty.bots are really not effective real estate search tools, but they are excellent home shopping sites. Listed homes will be exposed to thousands of users who might not have seen them on Realtor.com or local brokers’ Web sites.

Buyers could be happy. Trulia.com can seem like the Disneyland of real estate: Bright colors, interactive maps, even a Google Earth interface.

But buyers might stop to reflect that a Realty.bot listing is not very different from an exclusive listing. My wife and business partner, Cathleen Collins, was out with a buyer who saw an “exclusive” sign and asked what it meant. Her answer was concise and stingingly accurate: “It means they don’t want you to have representation.”

In fact, Realty.bot listings normally are not exclusive listings. They just look like it. When you click through for information, you are contacting the listing agent directly — or the listing brokerage or brokerage chain. If you proceed with the purchase of that home, you will either be unrepresented or you will be represented by the listing broker. You will not have your own buyer’s agent.

Realtors probably should be unhappy with Realogy’s move. Realty.bots tend to cut buyer’s agents out of the transaction altogether. This won’t save the buyer any money. The listing broker will just get paid double.

But listers also have cause to be unhappy, because the listings Realogy is providing to the Realty.bots will click back to Realogy, not to the listing agent or brokerage. My thinking is that their plan is to sell listers the leads their own listings generate.

It’s a brave new world in real estate. It will be fun to see how this plays out.

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Going one-up on the drive-by appraisal, Zaio brings forth a driven-by appraisal database

What’s half-way between a Zestimate and a real appraisal? Lenders and borrowers are eager to get the benefit of the doubt of a full appraisal without the full-blown doubts incurred with an Automated Valuation Method.

Enter Zaio.com, which is building a nationwide database of drive-by appraisals — really driven-by appraisals. From the San Jose Mercury News:

Zaio started off as a little-known Canadian company founded by Brad Stinson, an appraiser who tinkered with software. Stinson, now vice president of business development for the company, still has an office in Calgary.

Although the company has a low profile, recent hires such as Douglas Vincent, former chief collateral officer with Countrywide Bank, and John Ross, former CEO of the Appraisal Institute, a national organization in Chicago, are making people take notice.

“Our goal is to have information on every home in America,” said Tom Inserra, president and chief executive officer of Zaio from his Scottsdale home. “We already have hundreds of photographers and appraiser trainees and are deploying them around the country quite rapidly.”

The photographers have been sent to 170 cities in the past two months, covering the territory and sending it back to Zaio’s servers. Although the cities of Mesa, Ariz., and Spokane, Wash., are completed, part of the first wave is the Bay Area, and Brentwood seems to be the start of an estimated 80 million homes that will eventually make up Zaio’s database by 2010.

Inserra said that many Web sites have taken aerial photographs of homes, but the system was lacking real-life photos. The information isn’t available to the public but to banks, insurance companies and lenders who will use the service to help determine appraisals objectively, he said.

Zaio’s workers are required to go through a background check, wear company ID and clothing and hand out pamphlets written in both English and Spanish to anxious homeowners. The company also alerts the police department they will be in the area.

“We don’t invade someone’s property or try to sell them anything,” he said. “We’re also the only company we know who will let the homeowners opt out. … If you call Google, they won’t take your Read more

Zip gets 20 Million LESS than “zip” and they are happy about it

Happiness Is A Warm Gun

I swear I am not trying to pick on Zip Realty but I just couldn’t pass this one up. I saw this on Inman News. From a press release – and I quote:Money Gun

Real estate brokerage company ZipRealty Inc. today announced a net loss of $20.2 million in fourth-quarter 2006, or 96 cents per share, compared with net income of $17.9 million, or 73 cents per diluted share, in fourth-quarter 2005.

For the year ended Dec. 31, 2006, ZipRealty reported a net loss of $20.6 million, compared with net income of $20.5 million for the full year in 2005.

“We are pleased with our fourth-quarter results, which exceeded expectations in terms of revenue and profitability,” ZipRealty CEO Richard Sommer said in a statement.

They LOST 20 MILLION DOLLARS in last three months of the year and they are pleased with the results. Well, if they’re happy about it, then I’m happy for them.

How are you gonna bind ’em down to a listing contract when Iggy’s doing your deal for free?

Should we say goodbye to the half-assed listing? Mike Price:

Today Buyside has announced an ABA, (affiliated business arrangement) whereby any homeowner can list a home in the MLS free of charge. It’s called IggysHouse.Com. Interesting branding, I couldn’t find anything on their site that explained the moniker. Could be they just got tired of searching for decent real estate domains, there aren’t too many left out there.

I went and looked for myself. Here is the Iggy coverage area:

Dark green states: Now. Light green states: Soon.

The site sells yard signs, lock boxes and forms, but not at huge premiums. I’m not going to fill out a listing to find out what happens, but my guess is that the end-user is doing every bit of the work for the MLS entry and the supplemental Do-It-Yourself web page with additional photos.

The Iggy people are promising listings on Realtor.com as well. As we have learned, Realtor.com listings do a lot better when they have virtual tours, so Mike might offer to make a video podcast at an extra cost, using PBS-style pan and scan video from the user-supplied photos.

Does this matter? In the age of the $99 listing, probably not so much. I truly don’t understand why there are any FSBOs left in the marketplace. If this doesn’t eat up the few holdouts, I’ll be amazed.

Interestingly, IggysHouse is evidently owned by BuySideRealty.com, which, apparently, hopes that, by giving away 100% of the listing commission it can cling to a whopping 25% of the buyer’s agent’s commission.

Are they daft?! No — they’re lenders. BuySideRealty is a lead-generation scheme that uses the real estate side of the transaction to rope in mortgage borrowers. And how much do lenders make? Just as much as they want to…

This is really quite a bit smarter than Redfin.com. They exploit the de facto “commons” in the traditional commission split, taking the buyer’s agent’s fee without doing the buyer’s agent’s job. BuySide is operating real estate brokerages as a loss-leader, to generate mortgage business.

Of the two, BuySide’s is the business model more likely to make a profit, if only because it has Read more

Peering into the future of The Future of Real Estate Marketing

What’s the future of The Future of Real Estate Marketing? Last Friday, Joel Burslem announced that he is taking a job as a marketing wizard for Inman News:

I’m happy to announce I will be joining the nice folks over at Inman News, as of March 26. I will be joining them to help steer some of their social media projects as well as drive marketing to their popular semiannual Connect Conferences.

So will The Future of Real Estate Marketing be a thing of the past? Not so, says Burslem:

I prefer to keep it simple. I’m just going to keep checking out new real estate web sites and technologies and writing about them. That’s what’s fun for me.

FoREM was never really built as a business in mind. It was always just my corner of the web where I could post my thoughts on technology and real estate. It’s fun for me, it’s my hobby, a passion I guess – I’d rather spend my evening checking out some new web site than watching TV, that’s for sure. And, I don’t plan on stopping anytime soon!

Honestly, I can’t say where it’ll be in a year, two years etc. but then again who can? I plan on more of the same for the foreseeable future.

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Neighborhood-level real estate weblogging: Traffic is not about traffic, traffic is about conversions

I’m quoting from comments to BloodhoundBlog posts, so I’m not going to show the links.

Brian Brady to Teri Lussier: “Soon she’ll be winning carnivals.”

Not to put any pressure on the girl, but I think this is a fine idea. Won’t win us the contest, but it’s a testament of excellence that’s kind of difficult to dispute. I like stuff like that.

John L. Wake: “Have you ever noticed that a common strategy used by many successful Realtors is to become an area specialist?”

But exactly! I don’t know how large or small an area Teri wants to work (or you want to work, for that matter), but it pays to think small. For now, Cathy and I target a very small region of Downtown Phoenix, but the neighborhood names that pop out of that are legion: F.Q. Story, Willo, Encanto, Palmcroft, Del Norte, Alvarado, Campus Vista, Ashland Place, Fairview Place, Woodlea, Yaple Park. Believe it or not, that’s only about half.

But we can get even smaller. If you search for Culver Street, the first two hits should be us. There are other streets down there for which we will pull very strong results, and, in the long run, we will tend to be category-killers for the names of the streets we list on.

Isn’t that the opposite of what I said the other night? Yes and no. We are looking for Long Tail search results on very arcane search terms, but our objective is not to capture random leads but to attract, enchant, delight, enlist and convert people who have a very strong interest in those same arcane search terms. How do we know they have a very strong interest? Because they’re searching for terms no one with a casual interest would ever use.

“Phoenix real estate” or “Dayton real estate” are difficult keywords to dominate, but neither would be all that useful, anyway. The Greater Metropolitan Phoenix-area is bigger than Rhode Island, maybe bigger than Vermont. I have to drive to make money, but I don’t get paid by the mile.

There’s more: By focusing Read more

Server issues: A quarter-gator to go . . .

I ended up buy a fourth of a file server at HostGator.com. I spent some time this afternoon looking at our disk space and bandwidth needs, and this is more than adequate for now. At some point we may have to move up to a true dedicated file server (which is what I was planning to do at GoDaddy), but this suits me better for now, if only because I won’t have to be my own sysadmin.

I’m waiting for the booger to be set up now. Once it is, I’m going to move one or two hosted accounts over to see how things go. We control 66 domains right now, but only about half of those are hosted. The rest, like BloodhoundBlog.net, are redirected to hosted accounts. In any case, in addition to BloodhoundBlog, we have four hosted accounts with WordPress weblogs on them, so I’ll be able to practice moving WordPress installations before I have to move the big dog.

Right now, I’m aiming for late Saturday night. Things could change, but I’ll give plenty of advance warning. We’ll certainly be down for some amount of time as Domain Name Servers around the globe take note of our new IP address. With luck, it won’t be a very long time.

And: This little problem sucked the marrow right out of my day. On the plus side, as soon I am able to play with the new host, I can start moving sites. The GoDaddy-hosted sites are all pre-paid, but a bunch of them are coming due shortly, with eggs hatching in succession thereafter. Smaller, low-bandwidth sites have never been a problem, so I’ll move them as I can.

But think about new sites. I control a quarter-server with unlimited domain hosting. Every new site we build will be hosted “for free,” as a part of our overhead costs. Moreover, Teri Lussier just saved a bunch of money: We can host her to-be-built weblog “for free.” Right now, we spend about $43 a year for a new single-property weblog. As of tonight, that cost is around $7.50 a year, the discounted cost of the Read more

Want to do something to raise standards among Realtors? Charity begins at home . . .

Daniel Rothamel:

More extensive barriers to entry do not automatically create better agents.  As just about anyone with a real estate license will tell you, the education that you get prior to being licensed does very little to ensure your success in business, other than informing you of the legal requirements and obligations that, when followed, will allow you to keep your license.  The things that make for good agents are not covered in any licensing class.  They are learned after the agent begins working.  They are learned through broker training classes, or through mentoring, or through the time-tested technique of trail and error.  The idea that making it harder to earn a license will increase the quality of the agents is preposterous because it ignores this fact.

I like the idea of getting rid of licensing and making agents compete on the basis of reputation, but that ain’t gonna happen. Daniel has a good alternative:

If the goal of those who advocate the increasing of licensing standards is truly the reputation of the profession, then they should turn to themselves and seek out the new agents around them and act as a mentor or at least a positive example of the real estate professional.  That will have a far greater impact on the profession than any increase in education requirements.

Indeed. As I argued years ago, in a different context, if you really want to “do something!” about The Homeless — take one home…

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How to Waste 45 Minutes of Your Life

Every crazy person that works with us, we go crazy for them.

I finally got around to listening to the latest installment of the Glenn Kelman show, a video podcast by Robert Scoble (and posted on Sellsius). In all fairness, it wasn’t a complete waste of my time. I was able to learn or deduce the following important things:

  • Glenn may have skipped math class. He states that the average agent sells 8 homes in a year, yet “most (Redfin agents) do that many transactions in a week”. I seem to recall, and I will be generous here, that he told me that Redfin has approximately 300 transactions under their belt. I also seem to recall that there are 52 weeks in a year. Simple division; try it yourself.
  • Glenn cuts “commission refund checks… every day”. I seem to recall that there are 365 days in a year. More importantly, and assuming this wasn’t a figure of speech, if he is actually cutting checks versus offering a credit in escrow, I must assume that there are a bunch of 1099’s flying in the direction of the buyers. Given that I am not a tax guy, I could be wrong.
  • Robert Scoble’s house was SPECIAL. (No way!!!) As an example of just how special it was, he tells us twice that it sold for more than the Zestimate. We are all familiar with the power and the accuracy of the Zestimate, so enough said.
  • Robert Scoble’s house sold for what it did only because a family friend represented him. A family friend is naturally more concerned with protecting his interest than, say, a professional agent who is detached and therefore completely objective and who relies on the satisfaction of clients to generate referrals, a solid reputation, and future income.
  • A Redfin agent will “negotiate 1% better than another agent”. We are reminded that this is because the other agent makes more when the buyer pays more. This factoid is not substantiated by Glenn, so let me help. On a $500,000 home sale at 3%, let’s assume the agent sees 70% of the total commission (after office promo fee Read more

In Case You Just Tuned In

The story so far: “pat the bunny” has just hopped off the turnip truck and finds herself reshelved between Macbeth and Machiavelli. She quickly discovers that by coughing up a little Shakespeare (don’t worry Jeff, it’s a very minor infection) she can keep the alpha dog from growling too much… for now anyway.

Pat had the foresight to pack along a few books for the trip: “Realty Blogging”, which explains things like ‘Technorati’- (it’s not the Russian Mafia? Who knew?); “The Purple Cow”, because she’s so very fascinated by viral sneezing; and a basic grammar book, which shall remain nameless. If you are playing along at home, Pat is a green bunny and watching her fundage, so while she went to Amazon for “Realty Blogging”, she supported her local used bookstore for the others.

“Realty Blogging” is a step-by-step guide for blog-building: what, where, how, and why. Well-written and so easy to understand that even Pat can follow along. You, sir, will have no problem.

“The Purple Cow” Cliff Notes version- If you want your blog, your marketing- hell, even your business, to be all things to all people you are missing the point.

Grammar? zzzzzz Wake up! Yes, grammar because even though she’s only Pat the bunny, she is still a book and words, words, words are important. Besides, countinuing to count on what she thinks she thinks she remembers from English class, lo those many moons ago, just ain’t gonna cut it anymore.

Pat the bunny now aspires to become Spongebob; soaking up all the information she can, wherever she can find it.
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