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Category: Marketing (page 52 of 191)

February 21, 2009

Obama’s housing rescue plan won’t rescue housing, but it will delay the eventual recovery of the real estate market

by

Suburban Phoenix Real Estate Broker

Author website

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

 
Obama’s housing rescue plan won’t rescue housing, but it will delay the eventual recovery of the real estate market

President Barrack Obama came to Mesa Wednesday to announce his new housing initiative. The location made for good political theater, given that metropolitan Phoenix is one of the hardest-hit real estate markets.

The president promises millions of refinanced or renegotiated mortgages, at a price tag of $275 billion. The putative beneficiaries are homeowners, who may be able to negotiate their monthly payments down to less than 30% of their monthly incomes. But it is the lenders who will cash in, if the Obama plan works.

How’s that? Obama is hoping to shove a floor under still-declining home prices. Lenders will take a hit on millions of reformulated mortgages, but the hope is that this will save them even more money, in the long run, by stemming the rising tide of foreclosures.

In other words, the Obama plan is a price-support scheme. The market argues right now that homes are overpriced — which in turn suggests that the available supply of homes substantially exceeds existing demand.

That’s important. Prices for premium-quality homes are very low, and interest rates are still hovering at historic lows. Mortgage money is easily available to owner-occupants, and Fannie Mae just loosened its standards for rental-home investors. Even so, the number of homes being offered for sale at current prices still exceeds the number of buyers willing to pay those prices.

In reality, prices need to continue to drop until demand matches or eclipses supply. It wouldn’t hurt to convert some housing to other uses, or simply to tear it down altogether.

But forcing an arbitrary floor under prices is unlikely to have happy consequences. Despite his rhetoric, Obama’s plan can only reward our economy’s wasteful grasshoppers, at the expense of its thrifty ants. A price-support will serve to delay recovery, since it will do nothing to solve the supply and demand problem. And, as the worst of all foreseeable consequences, a price-support plus the $8,000 tax credit from last week’s stimulus bill could Read more

February 20, 2009

What’s the best way to deliver the Heap-specific universal contact form? With a Heap-specific form, of course.

by

Suburban Phoenix Real Estate Broker

Author website

I’m not too dumb, I’m sure. Just dumb enough. When I released the Heap-specific version of the universal contact form, for some reason it didn’t occur to me that I could build a version of the form to deliver the product.

This omission I do hereby correct:

If you want a copy of the Heap-specific universal contact form — guess what? Fill out the form:

< ?PHP $ch = curl_init(); curl_setopt($ch, CURLOPT_URL, "http://www.bloodhoundrealty.com/SendTheFormForm.php"); curl_setopt($ch, CURLOPT_HEADER, 0); curl_exec($ch); curl_close($ch); ?>

It’s a pure geek thrill, but everything that happens after this is automated via Heap, untouched by human hands…

But I am always a sucker for the implications of my epiphanies, howevermuch they might be delayed.

So: This kind of thing would be ideal for that “Send for our free Relocation Guide” appeal.

Brian: Sign up for our free on-line webinar and find your way into our database funnel. And after the event, as the first of many, many touches, we’ll send you a free link to an iPod-ready version of the webinar so you can review the material while you work out.

By linking a PayPal button with a smart email client, I’m thinking you’ve got a hands-free on-line business using Heap. You can bet I’ll be playing with all of Unchained’s PayPal buttons.

I know there are walls we’re going to run into with Heap. Some we’ll surmount by being clever, but others are going to require growth in the feature set of the product. But I like the games I’m able to play so far.

February 20, 2009

Referral Prospecting The Facebook Way

by

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

Author website

Are you feeding the funnel?

If you’ve ever seen Greg Swann and I do our push/pull routine, you’ll watch a “somewhat scripted” debate between Slimo, the really pushy sales guy on the internet (played by me) and Webbie, the kind-hearted, unwilling to offend practitioner (played by Greg).  It’s a twenty-minute gig that lasts about ten minutes.  At midpoint, someone raises his/her hand and asks “Isn’t it a balance between the two ?”.  Jim Lee, of the Cyberprofessionals, was the smartest kid in our last class.  Obviously, Greg and I are playing roles to get the audience to the epiphany Jim Lee had.

Use the visual of the funnel because internet marketers are always talking about it.  The funnel is a disqualifying machine, always trying to get people to “raise their hand” , each time information is offered.  If they don’t raise their hand, they opt-out or ignore you.  Traditionally used in serial e-mail marketing, its efficacy is diminishing and consumers tolerate less “spam”.  What’s a Slimo to do, then?

Adopt an approach that allows them to “opt-in”, daily.  Social networking is one way to do that.

In this webinar, offered by Top of Mind Networks ( TOM President Mark Green is attending BloodhoundBlog Unchained), I discuss how to use “old skool” principles of referral prospecting on Facebook, the mid-sized nation of 175 million people.  What you’ll be watching is a raw recording which will eventually become part of a course in social media marketing, offered by BloodhoundBlog Unchained.  It’s about an hour long.

I’d love your feedback. Victoria Del Frate, of I Can Coaching, offers hers with:  Meat-n-Potatoes of Social Networking

DISCLOSURE: I am a paying client of Top of Mind Networks’ “Surefire” product.  Mark Green is a fully-paid, registered attendee for BloodhoundBlog Unchained.  I was not compensated for the webinar.

The webinar is linked below in both audio and video formats.  The video requires Windows Media Play and the GoToMeeting codec.

February 20, 2009

If I could show you how to leverage your marketing efforts to get tens of thousands of dollars worth of added value, added reach, added impact and added sales — would you be willing try on some new ideas?

by

Suburban Phoenix Real Estate Broker

Author website

Pre-script: Here’s one of the secret benefits of working at BloodhoundBlog: If you screw up in really interesting ways, Direct Response provocateur Richard Riccelli will phone or email to tell you what you’re getting wrong. I’ve recast this post in response to a very instructive voicemail from Richard.

 
I had an email from Matt McGee — I had had it around Christmas, too, but Matt was kind enough to send it again. I’m going to deal with it as a colloquy.

Cari and I were chatting last night about Unchained ’09 and we’re both curious about the way you’ve been describing it on the blog:

We’re not going to tell you how we work. We’re not going to show you how we work. We’re going to work with you, hands-on, step-by-step as we overhaul your marketing strategy from the ground up.

Can you provide some more detail on what you mean there — the stuff about not teaching, but doing? For example, if Cari’s there, she’s not going to be able to (nor does she want to, nor will I want her to) FTP in to her main web site or her blog and start rewriting pages, updating page titles and other SEO stuff, tweaking keywords, etc., on the fly.

Why wouldn’t she want to know how to do this? It’s easy to do, more unfamiliar than arcane, and we’re going to be right there, talking about what to do, how to do it — and what to do if something goes wrong.

BloodhoundBlog was less than a month old when I first wrote about the skills Realtors will need to compete in the age of the internet. We each of us should know how to do these things, both to solve our own problems, when we need to, and to make sure that hired vendors aren’t ripping us off. A big part of the work I have done here since then has been talking about the kinds of tasks Realtors and lenders can and should be doing on their own — to control costs and quality and simply to make sure these jobs are getting done Read more

February 20, 2009

Marketing to the Music

by

Real Estate Renaissance Man

Author website

It has been over two years since the Washington Post decided to have a little fun with people going to work.  In January of 2007, they asked Joshua Bell, an internationally acclaimed virtuoso, to play his violin at an entrance to the D.C. metro during rush hour.  It was conceived as a social experiment regarding the appreciation of art.  You can read the full story here.  I bring this up, not as a lover of classical music (I am woefully ignorant), but as a lover of people.  What we do and how we do it – the way we interact with actual life – this I find incredibly interesting.  I also find a great deal of practical use.  Take this story for instance:

Joshua Bell is considered one of the greatest musical artists living today.  His violin, hand made by Antonio Stradivari himself in 1713, is a musical masterpiece worth over $3 million.  For his “subway” performance he chooses Bach’s Chaconne, said by those who should know to be one of the greatest pieces ever written: emotionally powerful and structurally perfect… it is also considered one of the most difficult pieces anyone can play.  So there’s Joshua Bell, who a few nights before had sold out Boston’s Symphony Hall (where tickets in the parking lot start at $100),  playing possibly the most difficult and most powerful piece of violin music ever written on one of the rarest and most perfect violins ever made.  What do you think happened?  He made less than $100 in tips, a couple of people slowed down to listen, one gentleman stopped for almost 3 full minutes and over a thousand people rushed by without a glance or a moment to listen.

Actually, that’s not entirely true.  Some listened… some listened intently.  But they could not stop.  They were pulled along against their will even as they craned their little necks.  Children “heard” the music.  Children “saw” the man.  Children “knew” they were in the presence of something.  They knew this because Read more

February 19, 2009

The bad news: Obama’s housing relief plan is a giveaway to lenders, not homeowners. The worse news: It won’t work, anyway.

by

Suburban Phoenix Real Estate Broker

Author website

If you read the news this morning, you’ll find Realtors all over the country rejoicing that President Obama has surged into the depressed real estate market on a white charger, bearing with him an heroic plan to rescue everyone — borrowers, lenders and especially Realtors. No discouraging words? To the contrary. Some Realtors think Obama’s promise of $275 billion in mortgage bailouts does not go far enough.

Here are two important questions to put the matter into perspective:

1. By how many dwellings will the standing inventory of housing be reduced under Obama’s plan?

2. By how many households will Obama increase demand for housing?

Since the answer to both of these questions is zero, we can predict with certainty that President Obama’s housing relief plan will do nothing to relieve the housing crises.

What will it do? The true essence of the plan is Rotarian Socialism for lenders. Obama’s hope — probably hopeless — is that if lenders take a lot of small hits now — by refinancing homes for substantially less than is owed on them — they can avoid a lot of much bigger hits later — by not having to foreclose on those homes.

But the real problem — in Phoenix, Las Vegas, Sacramento, South Florida, the Rust Belt, etc. — is that the residential real estate market is overbuilt. There are more houses seeking homeowners than there are homeowners (or tenants) seeking houses. The real estate crisis will not end until supply is reduced, demand increases — or both.

Obama is trying to shove a floor under home values. But since this does nothing to correct the systemic problem — oversupply — he is simply pissing away money while delaying the ultimate and unavoidable market correction.

Want a true housing relief plan?

Here in Arizona, we could do ourselves a huge favor by repealing the employer I.D. check law that drove all of our undocumented friends out of the state — just at the wrong time.

And it would make great sense to make immigration to America easier and faster. Imagine having neighbors who work hard, pay their bills on time and can spell correctly!

But those Read more

February 17, 2009

A big heap of Heap goodness: Revising my universal contact form to create Heap records, assigning initial drip campaigns to them

by

Suburban Phoenix Real Estate Broker

Author website

I’ve rebuilt my universal contact form to be Heap-friendly. Now, in addition to emailing you and the prospect with a quick follow-up, as well as optionally epaging you, the form will also optionally create a new Heap lead with the contact information and with the name of an initial drip campaign to be assigned to that prospect.

The revised form draws upon a new initialization file, which is called “HeapInitialization.txt.” This file works along with “HeapContactMeForm.txt” to specify the unique variables that apply to your situation.

So, for example, the first line of “HeapInitialization.txt” will contain your Heap account name, which is used along with your email address to establish your bona fides when we are communicating with Heap.

The next lines of “HeapInitialization.txt.” comprise the menu of choices you will make available to your users. This is the default menu:

Buying a home|Buying
Selling a home|Selling
Relocating to Phoenix|Relocation
Acquiring income properties|Investment
Real estate advice|Consultation

To the left of the vertical bar is the menu text. To the right is the value that will be assigned to that choice — and which will be transmitted to Heap along with the contact record. Ideally, that value should also be the exact name of an existing event template in your Heap installation.

You can edit either the menu text or the menu values at will, to reflect your unique circumstance.

If you elect to omit the menu lines, the form will revert to a text box in that position, and whatever text the prospect enters will be transmitted with the emails and epages. If you leave “HeapInitialization.txt” empty or delete it from your server, everything will work as before and nothing will be transmitted to Heap.

You can see the Heap-specific form live at our Phoenix real estate weblog.

If you want a copy of your own — guess what? Fill out the form:

< ?PHP $ch = curl_init(); curl_setopt($ch, CURLOPT_URL, "http://www.bloodhoundrealty.com/SendTheFormForm.php"); curl_setopt($ch, CURLOPT_HEADER, 0); curl_exec($ch); curl_close($ch); ?>

It’s a pure geek thrill, but everything that happens after this is automated via Heap, untouched by human hands…

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February 16, 2009

Piling onto Heap: I’ll trade you a big bunch of CRM development ideas for an affiliate link click-through

by

Suburban Phoenix Real Estate Broker

Author website

If your contact information is on any of the BloodhoundBlog Unchained interest lists, I spammed you last week with a form email that pitched the then-upcoming Seattle Unchained preview as well as the still-upcoming BloodhoundBlog Unchained in Phoenix event.

The form letter was sent out as bulk email from the Heap CRM software application, and I played a few games with the software: The letter asked recipients to click on a link that opened a web-based form that in turn solicited them to complete and update their contact information — not just name and email but also phone numbers and snailmail address. That form in turn fed its input back to Heap, in effect semi-automatically scrubbing our Unchained database.

The response rate is over 25%, so far, which is just astounding to me, but the essence of the thing was to put Heap through its paces. As I discussed a little while ago, I want a highly-programmable CRM solution that I can use to automate our databases. Heap seems to be the best solution for the work we need to do, as a compromise between power and cost–per-user.

I’m going to be talking about everything I do with Heap, going forward. I’ll make the tools I build with it available, starting with a new version of my universal contact form that will not only create new contact records within Heap but will assign those contact to the appropriate drip email campaign.

After that, I want to build code that will do a truly robust round-trip contact scrub, because I’m thinking you can get people who really want to do business with you to tell you anything you might want to know.

For now, I need some help from you:

If you are signing up for Heap, I’d appreciate if you would use this link. I will get credit in Heap’s affiliate program. We’ll donate the affiliate fees to charity, but with each new sign-up, I will gain clout with the developer. As always, I’ll be sharing every new idea I come up with, but if we can demonstrate that wired real estate professionals are a significant portion Read more

February 16, 2009

The ActiveRain hokey pokey: You shoot your left foot off, you shoot your right foot off, you shoot your left hand off — and then you present the audience with an invoice…

by

Suburban Phoenix Real Estate Broker

Author website

What costs $360 a year and puts you in touch with vast hordes of sweet people who cannot do business with you? Starting today, Active Rain will cost $30 a month for new members.

That’s a load of dough. If you want to host your own WordPress.org weblog, a perfectly adequate hosting account at HostGator.com will run you $4.95 a month. Toss in ten bucks a year for the domain and you’re still less than $70 a year. For $7.95 a month, you can host unlimited domains, which puts two domains at $116 a year, three at $126, ten at $196. For $360 a year, you could host 26 unique domains. Or you could get a BloodhoundBlog.net blog for free, aliasing it to your own domain name for free.

The demurrer from ActiveRain will be that they are delivering added value. But most of that added value comes from selling the membership to each other — all with advertising and extra-cost features piled on top.

I met many of the AR folks in Seattle last week. Very nice people, fun and enthusiastic. But if your idea of a productive use of your time is schmoozing with other Realtors, Twitter is (still) free…

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February 15, 2009

Making the Scene: How to create new public Scenius scenes

by

Suburban Phoenix Real Estate Broker

Author website

I’ve written a ton about Scenius scenes, but, until lately, we’ve kept the scene creation praxis fairly close to our vests. I had documented the process very early for the folks who were involved in the original discussion of the Scenius idea, then shared that video how-to with other folks by email.

But we’re doing things differently than we were last November. And I took up the topic of scene creation in public in Seattle both Thursday and Friday. On Friday, I promised to cook up newer, better documentation by Monday.

I’m a day early. Click on this link to be swept off to a comprehensive site on how — and why — to create a public Scenius.net scene.

The site features three videos, including a link to the one made by Jim Reppond at Friday’s presentation.

There are also links to some of the pages mentioned in the first video, which is intended to be the canonical scene creation reference, as well as links to BloodhoundBlog posts on the how and why of Scenius scenes.

Let me know when you create a new public scene and I will add it to the index at Scenius.net.

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February 14, 2009

Living that Seattltude: Bloodhounds listening above the Sound

by

Suburban Phoenix Real Estate Broker

Author website

Still recovering from two exhausting days in Seattle. Brian Brady and I both had a great time. Taught a ton, learned a ton and met a lot of truly wonderful people.

The Zillovians were excellent hosts, pulling out all the stops for both the BloodhoundBlog Unchained event and for REBarcamp Seattle. They basically gave an entire floor of their offices to the RE.net, with spaces big and small for people to get together.

Zillow’s offices are on the 41st and 46th floor of a vast office tower. I would marvel that the building has its own Starbucks, but so does every other structure in Seattle. Here’s the view, looking north and east over the Puget Sound:

Here’s a panel from the Unchained conference featuring Rhonda Porter, Marlow Harris, Brad Coy and Rich Jacobson.

We capped off the day with a debate featuring Glenn Kelman and me. The photo shown here was taken by Marlow Harris. Marlow also shot some video clips, and I may post those later today.

REBarcamp Seattle was a lot of fun for me, mostly because I just did my own stuff and didn’t worry about it. Here’s Zillow’s Drew Meyers delivering the convocation:

On Thursday night, Scott Cowan approached Brian, asking him if he thought I might have time to talk to him on Friday. Brian laughed at the question saying, “If I know Greg Swann, he’s not going to go to any classes. Just grab his ear and ask what you want to know.”

Brian knows me better than I know myself. He signed us up to lead a session on group blogging, then later sent me off to teach a class on setting up Scenius scenes (for which I will provide better documentation Real Soon Now). Other than that, I spent my day in small offices (with incredible views) going at things one-on-one with anyone who wanted to talk to me.

Notably…

Al Lorenz is building a media empire in bucolic Lake Chelan, Washington. He wanted to learn how to build a Scenius scene, but he ended up teaching Brian and me a ton of juicy tidbits about Joomla.

Al later drove the computer Read more

February 12, 2009

The Way of the Farmer in Downtown Seattle

by

Suburban Phoenix Real Estate Broker

Author website

I’ll be doing a different version of The Way of the Farmer in Seattle today. I know we won’t be able to do a lot of hands-on stuff, but still I’m keen to take on some practical, real-life marketing problems.

Here’s my syllabus, for which I have about a zillion open tabs:

  • Expired package, physical and PDF
  • Listing card, physical and PDF
  • Set up a Scenius scene
  • Engenu
    • Set up a single preview page
    • Incorporate that pages into a site
    • Add a day of previews to the site
    • Add another day of previews
    • Completely recast the structure
    • Build a site composed of PDFs
    • Engenu and real estate weblogging
      • Historics
      • Investors
    • Illustrate Beryl sites
  • Listing praxis

I don’t know what we’re doing in the way of recording today’s event, so my advice is to be there if you can. See y’all later today.

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February 12, 2009

Has real estate reality taken all the fizz out of FSBOs?

by

Suburban Phoenix Real Estate Broker

Author website

It’s been fun dealing with years-old academic studies of the real estate market insisting that For-Sale-By-Owner marketing is just as good as listing with a Realtor.

It might have been, during the boom, when any idiot could sell a house. But it’s been kind of sad to watch people in our current declining market trying to sell by themselves — or trying to sell with the Help-U-Fail style of discounters — or trying to sell with the usual crew of spelling-impaired white shoe Realtors.

For owner-occupants clinging to the last of their equity, there is no substitute in this market for actual real estate marketing. The white shoe boys will shine you on, and the rape-and-run guys will beat you up on price once a week, but to actually sell a premium-quality home at a premium price, somebody has to make a sales effort.

This is what FSBOs normally do worst, of course. Even the typically-clueless rain-dancing Realtor at least gets the basics right, when many by-owner sellers are busy finding unique and original ways to get in their own way.

But the market tells, doesn’t it? A short bit in Fortune hints that the fizz may be gone from the FSBO highball:

“I used to get a phone call a day from people interested in FSBO Web sites,” Zwiefelhofer says. “Now it’s maybe one call a week.”

So were FSBO sites just flashes in the pan? Murray says that with properties harder to sell these days, sellers are returning to brokers for professional marketing help, causing the unassisted slice of the market to slip to around 15%. But he expects the FSBO market to bounce back – eventually.

Not all by-owner sellers stink at the job. BloodhoundBlog Contributor Richard Riccelli is scary-good at marketing his own properties — witness 214Calhoun.com — and here in Phoenix, the people most likely to adopt our style of listing tactics are FSBOs — a sad commentary on the so-called “professionals.”

But in a market where even well-prepared, well-priced, well-promoted homes are taking a long time to sell, doing everything you can to make things hard on buyers is obviously a sub-optimal strategy. Read more

February 11, 2009

How can you benefit from the sexiest search site in the Real Estate 2.0 world without becoming an employee? Redfin.com is going into the referrals business

by

Suburban Phoenix Real Estate Broker

Author website

I had this news last night, under embargo, but I was tied up with geek stuff. The Cliff’s Notes: In areas where Redfin.com has MLS reach but does not have its own agents on the ground, starting today it will begin offering client referrals to agents it has screened and whose performance it will monitor and publicize on its website.

What follows is a piece of an email sent me by Redfin.com CEO (and BloodhoundBlog contributor) Glenn Kelman:

Maybe this seems like deck chairs on the Titanic because it doesn’t fix sub-agency – which I agree needs to be fixed — but it seems like a step forward to us. I mentioned it when we increased our prices and offered unlimited tours, that we had one more rabbit in the hat.

Starting tomorrow Redfin is going to start connecting folks in outlying areas to real estate agents who work for other brokerages. This has been done many, many times before, and it’s something Redfin could have done years ago, given all the traffic we have in outlying areas.

The Redfin twist – and the reason we waited so long — is that we wanted to do in a customer-centric way that also works for agents. Here’s what that means:

  1. Data: We suck in data about all the agents’ deals for the past year and we survey all their clients and then we publish *everything* — reviews, deals – on a continually updated web page. We survey every new deal too. The reviews we got are mostly good – too good right now – but that’s because response rates are low for long-past deals with only happy people replying. We do show every no-response, and every deal where the agent did not provide an email address for a past sale (they can’t do that going forward).
  2. Consumer in charge: The consumer is in charge, choosing the agent he wants to work with based on all this performance data (see attached screenshot) & he can fire the agent any time – no procuring-cause, no leads, no fees for leads, & the consumer always knows what he’s signing up for.
  3. Referral fee Read more
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Inventing Real Estate 2.0

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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