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Category: Marketing (page 184 of 191)

August 28, 2006

You came for the yard sale — but you bought the whole house instead . . .

by

Suburban Phoenix Real Estate Broker

Author website

Note this from Free the Drones:

Pretty much everyone knows the standard rule of garage sales and yard sales: whoever goes the earliest gets the best stuff. But they may not be getting the best deals, as Mighty Bargain Hunter discovered. He found that if you go to them at the end of the day, people are desperate to get rid of stuff. They don’t want to keep it, otherwise they wouldn’t have put it out there – so you can offer people a lot less late in the day and they’ll be willing to sell to you.

I’ll give you a better strategy, then show you how to use it to save more than just a few bucks.

First, do go early to the yard sale. Find the stuff you might want to buy. Discuss it with the sellers. Mull. Ponder. Dither. Writhe. Then leave. Then come back late in the day. If your stuff is still there, commit hard but negotiate hard. They already wanted to sell it to you. Use that to your advantage.

Now let’s buy a house instead — using the same strategy.

Show up soon after the house has listed. Arrive when the sellers are home, if they’re still living there, at an open house if not. If you like it and think you might want to buy it, throw off buying signs. You don’t have to lay it on too thick. Just staying in the house and looking at everything is a very strong buying sign. Come back with your spouse if you think you need to give things a boost. Be fun and personable with everyone. Cultivate their good opinion of you.

Mull. Ponder. Dither. Writhe. Then leave.

Now you wait for the dew to evaporate from the rose. Time on market does two things: It sends buyers to other homes and it dispirits the sellers. You want to give them time to entertain this horrifying idea: “What if it never sells?!?”

Make your offer at the best possible time, strategically. When is that? This is me a few months ago:

So what is the absolute strategic best time to write a Read more

August 28, 2006

Real estate weblogging software?

by

Suburban Phoenix Real Estate Broker

Author website

Ardell raises the question, and I had the same conversation Friday with a real estate instructor who is taking the plunge into weblogging to demonstrate to a book publisher that she can attract an audience. What she said was, “We’re going to set it up on Blogger.com.”

Noooooo!

If you’re doing a cat blog, okay. If the weblog is just something extra to put on your business card, like a real estate designation, okay. But if you’re goal is to build something more lasting than bronze, you need software that can take a beating.

My take, taking it for what it’s worth: WordPress. [URI edited per comment below.]

It takes some set up, including server-side set-up, and the learning curve is steeper than other options. But it’s a superior weblogging platform right out of the box: Hands-free trackbacks, built-in commenting, spam control — and all those plug-ins. As the lost, lamented 4Realz pointed out, WordPress is a full-blown Content Management System — you can use it to build your whole web site, with an RSS feed for every page if you want. This has SEO implications that keep me up late at night…

I do have a bias. Given the trade-off between easy-to-use and full-control, I will almost always take full-control. Open source, continuously upgraded and free, a tough combination to beat.

The sites you really like are almost all in either WordPress or TypePad. If you imagine that you might someday want to move your weblog to something more robust (which WordPress will do for you), why not just start with WordPress to begin with?

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August 28, 2006

Sleaze versus sleaze: We didn’t get this awful reputation by accident . . .

by

Suburban Phoenix Real Estate Broker

Author website

Give a glance to these excerpts from this article in today’s Arizona Republic. There will be a quiz at the end.

Sleaze:

Home builders are spending big bucks and dishing out heaping helpings of hospitality during what has become the summer of love in the Phoenix new-home market.

The objects of their affection? The real estate agents they spurned during last year’s housing boom.

The wooing has agents sipping wine and tossing down hors d’oeuvres in Buckeye, networking to live music in Chandler, munching free sandwiches in Florence and cashing fat commission checks.

It was a different world in Phoenix housing last year at the peak of the boom. With buyers camping out at subdivisions, builders didn’t need agents to bring them prospects. Builders, looking to maximize their profits, cut agents’ commissions or started paying flat fees, if they paid any fees at all.

That angered a lot of agents, who felt that builders were abusing the long-standing relationship between the people who sell homes and those who build them.

But the tables have turned. Demand has evaporated, and builders are trying to get cozy with agents again, throwing parties and offering big fees – commissions of 4 to 5 percent – for selling houses fast. The typical commission is 3 percent.

Versus sleaze:

Yet some agents are steering clear of new subdivisions unless clients ask to see homes there. It’s payback, they say, for builders who got greedy in a runaway market in which builders raised prices with impunity and slashed commissions. Money and parties may not be enough to restore the relationship.

And more sleaze:

It’s unclear whether builders will be able to mend fences with agents. Some agents note that there are more reasons than leftover bad vibes to show resale, rather than new, houses.

Builders pay their co-broke percentage on the base price of the house, before the buyer adds the thousands of dollars in options that typically go into a new home. Also, agents don’t receive their commission on the new home until the sale closes. Valley construction times are running six months, often longer. Resale deals close faster and the house is fully valued, at least by Read more

August 27, 2006

How much future is there in a job that millions of very smart people are willing to do for free?

by

Suburban Phoenix Real Estate Broker

Author website

Cathy brought home the Sunday newspaper, and I spent a few minutes pulling out the sections I wanted to read. Which sections? The circulars from Best Buy, OfficeMax, Staples and CompUSA. We buy the daily newspaper never, and the Sunday paper maybe twenty times a year. I have absolutely no use for the news part of the newspaper, it’s just the package the real news comes in: What can I buy where for how little money?

In fact, I read the Arizona Republic and the Las Vegas Review Journal every morning, along with with whatever other news seems most apposite to my dealings. But I read everything on-line. And as much as I hate the hoops I have to jump through to read newspapers on-line — this by comparison to the extreme convenience of my RSS feed reader — reading them on-line is by far superior to wrestling with the antique form-factor in which they are sold.

Moreover, I do not intend to ever pay for a newspaper again unless it contains advertising circulars that can save me money. In the long run, even those will come to me in a format I like better, even if it’s only email, and that will be the end of the Sunday paper at our house.

There’s a disintermediation message in here, by the way: When I was a young turk in the graphics industry, the old timers would tell me that computers could never replace print because, after all, you can’t print a coupon on a CRT screen. It betrays something about their belief in the added value of works of the mind that they thought the thing of greatest worth that could be printed was a coupon, but — guess what? They were wrong anyway. Staples, for one, can’t seem to stop emailing me electronic coupons.

But here’s where I’m really heading with this: In general, I do not intend to pay for ordinary information. Period. If you want my money, you have to deliver something that I can’t get anywhere else — and that I can’t get along without. Or you have to deliver it Read more

August 27, 2006

A bug’s eye view from the trenches . . .

by

Suburban Phoenix Real Estate Broker

Author website

Cathy had open houses today, but a couple she has been working with wanted to go out looking. She asked me to cover for her.

They are downsizing, technically, but they’re playing this market very wisely, in my opinion. They changed their focus this weekend from smaller resale homes to move-ups from new builders. The rationale is, if they can buy something at a deep discount now, they’ll be in that much stronger a position when the market turns. Even allowing for the worst, they can have a lot more house in a better neighborhood for the same money.

The interesting thing for me was how busy the model homes were — and how few inventory homes were available. We were in two subdivisions, so this portends nothing as a trend. But it was an eye-opener…

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August 26, 2006

Greg’s toothsome lease addendum . . .

by

Suburban Phoenix Real Estate Broker

Author website

I was out with investors today, and I mentioned this model lease addendum to them. I wrote this two summers ago. It is devised to permit out-of-state or arm’s-length landlords to get along without a property manager, if they choose. Take note that this a model, an example for education purposes. I don’t know the laws in any state but Arizona, and I don’t warrant that these clauses will withstand judicial scrutiny even here. Notably, there is a distinction in Arizona between a deposit (refundable) and a fee (non-refundable). If this distinction doesn’t exist where you live, then clauses using either of those terms may be moot. All those caveats aside, this is a good example of how you can use contract terms to transfer the day-to-day maintenance of a rental home to the tenant, so that the landlord’s major involvement with the property will tend to occur between tenants.

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August 26, 2006

When Realtors become as stupidly hyperbolic as the bubbleboys, that’s news…

by

Suburban Phoenix Real Estate Broker

Author website

Apparently, about 200 Phoenix-area Realtors got together Thursday night for some group therapy:

About 200 agents gathered at the Southeast Valley Association of Realtors in Mesa to hear tips from top achievers on how to sell homes and handle clients in this transitional market.

We don’t belong to SEVRAR, so we weren’t invited, but that’s just as well. As far as I’m concerned, this is both collusion and an agency violation — a class on how to betray your clients’ interests. This was a bunch of Realtors getting together to figure out how to keep the commissions flowing, whether or not this is what is best for their clients.

The scare stories the boys and girls told each other make for interesting reading. For reference, right now, with four business days left in the month, Market Basket values are up slightly from July. A lot of houses will close in those four days, but quite a few of them will have to sell at fire sale prices to put a big dent in August. When Realtors become as stupidly hyperbolic as the bubbleboys, that’s news.

Alas, we don’t have any real estate news, just breathless reports from people who can’t see beyond the bugs on the windshield…

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August 25, 2006

Ten real estate weblogs that feed my hungry mind . . .

by

Suburban Phoenix Real Estate Broker

Author website

Not trying to scam my way onto anybody’s lists of ten phenomena or anything, but here are ten real estate weblogs that feed my hungry mind:

  • Rain City Guide. Duh. Meta-brokerage mega-blog, a very nice combination of very smart writers.
  • The Real Estate Tomato. Color and zest, a savory combination.
  • The Future of Real Estate Marketing. The new look rocks, but it seems to be an of-less marriage with technology.
  • 360Digest. Marlow Harris is a serious mind. Not dour or joyless, but never frivolous or shallow. A voice commanding attention.
  • Charlottesville Area Real Estate Blog. If Daniel Rothamel is the future of real estate, we’re in safe hands.
  • Sellsius° blog. I like these boys. It’s light opera, rarely grand opera, but it is deft and delightful. All this and linguam latinam, too.
  • Real Central VA. Jim Duncan walks a fine line between local and global interest, between real estate customers and real estate mavens.
  • Searchlight Crusade. Dan Melson ranks with me as one of the most informative people on the RE.net. I should link to him more often, except that when he’s done with a topic, there is nothing more to be said.
  • moco real estate news. Todd Tarson is another young Realtor who fills me with for hope for the future. Plus which, he has great insights into Arizona state-level real estate politics.
  • 4Realz. The best of the best, bar none. Requiescat in pacem. I’m left with my memories — and few dozen archived posts…

If your weblog isn’t here, it’s not because I don’t love it. There are dozens I read daily, and I could easily make another list of ten to rival this one. And maybe another after that one. Here’s the deal, though: This thing, our thing, is nothing compared to what it will be a year from now. We talk to each other a lot, and I’m not sure that’s going to change. But there are a lot of us ‘each others’ with a stake in this conversation, so it could be that the most important weblog in the RE.net, for now, is ActiveRain…

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August 25, 2006

The moral is the practical — in real estate and in life . . .

by

Suburban Phoenix Real Estate Broker

Author website

What is the market value of integrity to a Realtor? In the first place, you sell your best advice to the people who want your best advice. And you aren’t stuck with the unhappy consequences of having sold your clients a bill of goods just to get their business.

Daniel Rothamel at the Charlottesville Area Real Estate Blog:

When I first started my career in real estate, I assumed that it worked much like most other service/consltative industries, i.e.– when someone called you about selling a home, they wanted your advice and expertise in the matter, especially with regard to pricing, staging, marketing, etc. I quickly discovered that this is not the case at all. Many potential sellers aren’t calling you to ask for your expertise and advice in pricing or marketing, they are calling merely to reinforce their own opinion. My standard comment on the matter is, “I don’t set the price of your home, the market does. I am merely telling you what price this home will bear on the open market, not what the intrinsic “value” of the home is.”

For example, there are homes out there that people have lived in for decades, and are therefore very important to their owners. These homes are filled with irreplaceable memories. This makes them very valuable in the minds of their sellers. Unfortunately, the free market is a cold thing. The market doesn’t care what your memories are, it doesn’t care how much sweat, blood or tears you have invested in a property. The owner may have his or her own opinion as to the value of a home, but the market is going to tell you the price. Sometimes, those two things don’t match. That is where the Realtor gets caught.

I deeply admire the serious cast of Daniel’s mind — and not just because he weaves this moral tapestry with threads spun here. Go read the whole thing…

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August 25, 2006

Make rooms make sense when selling your home

by

Suburban Phoenix Real Estate Broker

Author website

I tip-toe dangerously close to home staging in today’s Arizona Republic column (here’s the permanent link):

Make rooms make sense when selling your home

You walk into the home and you know you’re walking into a living room. Except there is a pingpong table standing there in the middle of the room. There’s a dartboard on one wall. On the opposite wall is a dry bar with a beer tap.

You walk into what you know is a formal dining room, except there’s a grand piano sitting in the middle of the floor with the dining room chandelier hanging down below the sounding board.

Past the kitchen is a charming solarium, except it’s overstuffed with the dining room table and china cabinet.

The garage should be just beyond the laundry room, but all you can see is a vast warehouse stacked with junk.

By the time you get to a room you know is a bedroom, despite its giving every appearance of being an office, you’re ready to give up. The house might have promise, but you can’t see it. The sellers have unwittingly plotted to confuse you at every turn.

My best advice for sellers is this: Move out. Leave behind a few pieces of excellent furniture – even if you have to rent it – and a few tasteful decorator items. Get everything else out. Yourselves, the kids, the pets and their odors, and all that accumulated clutter.

Your response: “But we can’t afford to move until we sell!”

Fine. Then get rid of everything you can. Yard sale. St. Vincent de Paul. The dump. And finally, a rental warehouse.

“But that costs money, too!”

Sure does. But think of it this way: If your house spends an extra three months on the market waiting for the buyer who can see through all the clutter, you will spend perhaps $5,000 in mortgage payments and opportunity costs. Worse, you may have to drop the list price by $5,000, $10,000 or more. Simple arithmetic argues that storing your stuff off-site is a lot cheaper than challenging potential buyers with the puzzle you have made of your home.

If you want your home to Read more

August 24, 2006

Dood! Web 2.0 is Totally! Freakin! Awesome!

by

Suburban Phoenix Real Estate Broker

Author website

“So Cameron says you’re like totally into real estate?”

My geeky son had brought an even geekier friend home from school. Somehow he ended up in my office. “Is that a question?”

“Dood! It’s like an observation! But, like, I’ve been playing with some of those real estate web sites? And I think I could, like, build my own?”

He talked like that, every sentence a question or an exclamation. He orbited without periods. I said: “How interesting.” I think that sounds sufficiently like “go away” that a kid could take a hint. Didn’t happen.

“So like picture a site called pussywillow.us?” He held up his fingers in Dr. Evil scare quotes. “The fun and friendly way to find out how much your house is worth!”

I said nothing. That didn’t work, either.

“So you like type in your address? And then the software gives you a totally random value? And then, like, the web-cam is watching you? And if you scowl or frown or something, the value goes up? But then if you’re like smiling and happy it goes down? And it’s all totally random, it’s just like messing with your head! And then? When you get disgusted and quit? Then it takes the webcam video and posts it on youtube.com! Totally! Freakin’! Awesome!”

“Wouldn’t you need a model release?” I could have kicked myself for encouraging him.

“Dood! What are you talking about?”

“Wouldn’t you need permission to show the video?”

“Oh, man! You don’t know nuthin’ about Web Two! Dot! Oh!”

Okayfine. “You’re right. Go find Cameron.”

“No! No! Wait! I got another one, right? So, like, imagine a game? It’s built with like mapping software? And the game generates geocodes at random and takes you to those places? And your job is to destroy every house you see? But, like, what’s really going on is, for every house you destroy, the game is sending like a purchase offer for a random amount of money to that house! It’s like reply.com, but even stoooopider!”

Just then Cameron showed up, bless his heart. He said, “Leave my dad alone.”

“Dood! He was like totally buyin’ it!”

Like totally.

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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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