There’s always something to howl about.

Category: Real Estate (page 86 of 266)

From Blogs to Klogs: How Blogging Will Become Useful

Blogging is a fad and by definition, it will eventually run its course and fade away to a small niche. Blogs will be the bell-bottom pants of Web 2.0. The technology of Blogging will not go away, but the style of what we now do on Blogs will change significantly and will be renamed “Klogs” (more on that later).

How can I make such a claim in the face of overwhelming statistics documenting the growth and popularity of Blogs? That’s an easy question. My answer: because this is a Blog post and I can spew whatever opinion I wish and the only thing you can do is try to out-spew me with your own opinion. But spewing opinions is not what is going to undo Blogging – lack of civility will keep Blogs out of the mainstream.  Simply put, corporate leaders have not embraced the Blogosphere because many Blogs often spiral down into a pit of venom and character assassination while hiding behind a cloak of anonymity. Many Blogs revel in being snarky because it gets them quick exposure and generates lots of readers and comments. It is all in good fun until someone gets their eye poked out.

Corporate leaders are fearful of Blogs because these freeform formats of fun are too risky for the image of the Company.  Sure, many corporations have started a Blog, but most are tame, humorless, boring sites used for product promotion and press releases.  The NAR Blog is a good example of that.  These are not real Blogs because the writers are not free to say what they think; rather, they must say what the company wants to say/hear.

Because there is not widespread adoption of Blogging on the corporate level – and VERY few individuals are making money off their Blogs – I can only draw the conclusion that Blogging will fade away to the fashion status of bell-bottoms, or at least not reach a significant level in business communications.  Without adoption by the business community, Blogging will not have sustainable cache’ and, I believe, has almost peaked in popularity.

Currently there are about 4 Blog readers Read more

Hittin’ Fat Fastballs — Diggin’ For Gold — Skinnin’ Cats

I remember something a great football coach once said. He’d been asked about the vanilla offense he ran, and how defenses were shedding old fashioned ideas, and learning how to stop tradition offenses with ease. He said, “Let ’em do whatever they need to. If my guys block their guys, we win.” That coach was a 1.0 guy if ever there was one. 🙂 I bring that up only as a preface to what my point is today.

It’s still all about skinned cats. It’s amazing how many are still calling guys like Chris dinosaurs. I’m sure his feelings are mortally wounded as he cries his way to the bank every month. Much like USC football coach John McKay replied when asked about his ‘student body left, student body right’ running game. Said Coach McKay: “When they find a way to stop it, I’ll try something else.” His boring, predictable offense produced multiple Heisman Trophy winning running backs.

Chris Johnson stimulated some pretty productive give and take with his last couple posts. Chuck Marunde and I joined in with our own thoughts on the subject. Where Chris was in his glory talkin’ about his use of Ma Bell’s favorite toy, Chuck was lamenting his local market’s dreary numbers. And dreary might be an optimistic description. He was up to here with high maintenance owners on sloooow moving listings. Me? I think Chris is a born cold caller, one of those rare people who knows the percentages, shrugs his shoulders, then works ’em, all the while wondering why his competition can’t see the gold too.

Chris’s core message as I see it is this: If he told you that digging a 100 three foot holes a day would uncover a pot of gold a week, every agent with a pulse would be grabbin’ gloves, a pick & shovel and headin’ out the door. Why? Because they’d be thinkin’ of the year’s worth of gold they’d have by consistently diggin’ those daily 100 holes, right? You know that’s true. Yet in real life they don’t, do they? Those who won’t dig understand why, Read more

A Call to Arms

Why, in an industry in which customer service is one of only two ways to set yourself apart, have brokers been so wary of measuring customer satisfaction?

It isn’t because agents don’t care. I’ve never met a Realtor who didn’t care about his customers. In fact, when we talked about Redfin’s customer satisfaction goals last week, a broker immediately contacted us to ask how we measure customer satisfaction.

Will the Brokers Who Measure Customer Satisfaction Please Step Forward?
I was going to refer him to someone else in real estate who uses our scoring system — we’re just beginners — but then I couldn’t find anyone else. Which is surprising, given that it’s the same system used by Apple, Costco, FedEx, American Express, Dell, Vanguard and literally thousands of other companies in virtually every industry — except real estate.

The broker ended up scheduling a meeting with Redfin’s Matt Goyer at Inman Connect. It may have been one of the only Connect meetings explicitly about customer satisfaction all week. In looking over the otherwise dazzling agenda — I have been to both Inman and Bloodhound conferences, and both are very good — I noticed that every type of marketing under the sun was in the program — except the one that works best: customer marketing.

The Perils of Transparency Are Worth It...

The Perils of Transparency Are Worth It...

The reason measuring customer satisfaction wasn’t more prominent is because people think of customer testimonials as the old-school word-of-mouth that Realtors traditionally rely on, whereas Connect is all about the new school: YouTube, Facebook and Twitter.

E-Commerce for Agents Not Houses
But the message matters as much as the new-fangled medium, and our message to the world has to be about the quality of our service. The same transformation in how consumers research listings will change how they choose an agent. Rather than meeting face to face to review listings, consumers now evaluate listings online. They can’t see or smell the house in person, so they bury their nose in numbers. When their first encounter with an agent is online, they’ll take the same approach.

Therein lies the great fallacy in many people’s original Read more

My 2 cents on Shawna’s Mall Metaphor

The use of design metaphors was one of the first things Web designers explored in the mid-90’s on the early commercial Web sites. A Southwest Airlines site used the airport ticket counter as a design metaphor, for example, and the mall metaphor itself was widely used by early eCommerce developers.

I did it, too. I designed a site for the RI Teacher’s union that used a ruled-paper background, and the homepage navigation was designed to look like stuff that was left on top of a notebook. I even had a coffee ring on there.

In the mid-90’s , most of the first Web designers were coming over from print. As Marshall Mcluhan pointed out, we tend to use a new medium the way we used the old one, so a lot of early Web design was driven by what designers knew from print, including the use of metaphor.

While you can make the argument, as Brian has, that a design metaphor can be used to make people feel comfortable with a user experience by basing it on something they already know, there are good reasons why Southwest and the RI Teachers no longer have metaphor-driven Web site designs.

If you really want to get into this, check out Jacob Nielsen’s book Designing Web Usability (where he dissects the Southwest ticket counter site), but it boils down to this: The Web has essentially become an operating system, and successful Web sites are basically apps that run on it. The reason your users come to your site is to complete a task using your app.

That means that Web design has morphed from print-based design principles to software user interface design principles, and the problem with metaphors in UI design is that they don’t scale well as you add functions to your app to enhance your audience’s ability to complete primary and related tasks.

You end up stretching the metaphor until it breaks, and something that started off  giving you a fresh and interesting way to look at a hierarchy of information becomes a drag on your ability to extend that hierarchy. Already on Shawna’s site, you have to Read more

The Wild Wonderful Web We Weave. How tightly wound it will be.

Yesterday was Teri Lussier’s Birthday in case you missed it.  If you did, then by all means go and give her your well wishes already.

Aside from working on your birthday, Teri and I have a few things in common.  Beyond real estate, our shared interest might have a lot to do with why I’m writing on Bloodhound.   A little over a year ago, after reading this blog for probably a year-plus prior, she pulled me out of lurking and into commenting on this post about twitter. It was not the utility of twitter that was as much of interest, but rather the evolving way that we communicate with one another on the WWW.   Twitter, as we all knew was offering a new line of communication at the time in the micro-blogging arena, and Teri was sharing her thoughts on the concept by using a shared favorite film as a metaphor.

It was her use of something that was of great interest to me that attracted me to her post.   Timing, curiosity, and a shared interest can start relationships in a heartbeat. Since then, Teri and I have become friends on and offline.  Meeting last year at Bloodhound Unchained in Phoenix and again at REBlogWorld in Vegas.

I value her viewpoint and honesty as I do everyone I have come across that contribute to Bloodhound.   Being so, we occasionally message each other with ideas or join in what has been dubbed a scenius.

None of this is ground breaking except for the idea that it is becoming easier to connect.  Since I spend so much time in the machine, I rarely take a step back in reflection as I did yesterday morning.

What Teri said via email is what got me started:

I’m quite partial to grainy B&W foreign movies… a joke… sorta…. Brad will laugh.

I went on YouTube to search for a trailer for Wings of Desire” to send to Teri in a message and what I came across was fascinating to me.   There is a whole sub-culture of people on YouTube that have edited different music over the top of parts of the Read more

Shopping For Greenwood, IN Real Estate? iShopGreenwood.com Is a Real Estate Mall

If you’re looking for Greenwood, IN homes for sale, what better place than a real estate “mall”?  It’s the PERFECT idea but there’s one problem; I hate malls.  I’m not an agoraphobiac but  I AM a gun-totin’ American male.  On Saturdays, I park the pick-up at the Mall and sneak into the Sports Bar while Mama Bear and Girl Cub go bargain-hunting.   A blog that looks like a mall makes me crave Buffalo wings and onion rings; call it a Pavlovian response.

Who cares? Greg Swann always jokes that ” Mama buys homes and Dad sells them” so Shawna may have created something very powerful with her blog design.   Think about your last ten buyers.  Mama was measuring, dreaming, and creating while Dad was crunching numbers with the local mortgage broker.   Let Dad read the pin-striped mortgage blog, Mama’s gonna dig the pastels (and mall-themed layout) of this real estate blog.

I concur with Greg Swann. Shawna has content…lots of GOOD content.  I love the “closed listings” and “client testimonies” categories- that is very smart marketing.  The numbers appeal to a clients’ desire for performance and the pictures, with the testimonials, provide social proof.  We talk about the fact that a potential client is looking for a reason to DIS-qualify you when searching online; I can’t find a reason to do that with Shawna.  Her site’s content sells me on every point.  Shawna appears to be a VERY busy and competent REALTOR which is exactly what I’d want.

How can Shawna promote this site so that it is a must-see for every potential Indy homebuyer?

The URL is great because it plays upon two themes:  the hip “i-” theme, made popular by Apple and the keywords are easy to remember while being Googlicious.  I’d take to the offline trenches to promote this site with Greg’s tiny little workhorse; the business card.  I think I’d want a stack of those cards in every hair salon, speciality store, and place where women visit.

Would T-shirts be a good idea?  I’m thinking ‘What Would Sarah Palin Wear?’ when designing the T-shirt line.  When I asked Mama Bear if she’d Read more

Shawna Ebersole’s iShopGreenwood.com is very rich in content — but it may be just a little bit too rich in color

My apologies for my recent absence. I came down with a cold — a warning from god about going to Seattle in the Winter — then got bit in the ass by a long-standing Real Life Dilemma. I missed all of the vendorslut “news,” so I don’t even know how deeply inspired were the attendees by being yelled at by Gary Vaynerchuk. (“C’mon! People! It’s not customer service unless you emote from the throat!”)

Am I being hypercritical? I don’t think so. We’re all of us victims of bullshit now and then. The trick is to scrape it off your shoes before you track it all over everything.

Meanwhile, Brian Brady shot this to me by email:

Shawna Ebersole asked us to critique iShopGreenwood.com and give her some ideas for promoting her weblog.

Well. At the risk of seeming hypercritical, I will say that the site seems to me — a male specimen — to be girly and cluttered. The overarching them is High Concept — which means you have to figure it out. No, that’s not a collection of girly-colored boxes, it’s a mall, a big-city indoor shopping mall.

Even so, I don’t care. I don’t care for the colors and I didn’t like having to figure out what was going on, but I don’t think that hurts anything. I also don’t think it helps anything. There are a zillion much-less-clever real estate weblogs, and they probably do just about as well as this one.

But here’s something I really, really liked: The site is very rich in content. My take is that Shawna Ebersole predates real estate weblogging by quite a while, and she seems to have retained every bit of the content she had developed before she took the plunge with a blogsite from Jim Cronin’s RealEstateTomato.com.

Isn’t that a bad thing? I don’t think so. I’ve written before — and should write more extensively — about the idea of satisfaction — feeling full. When people are sampling any of your marketing, they need to be able to consume enough to “feel full.” No one acts before they’re ready to, and you have to hang Read more

Please No More Listings! I Can’t Afford Them!

We’re in a slow real estate market, I get that.  The peak where I practice was 2005 when any Tom, Dick, or Jane could list and some dorky agent in the MLS would sell it.  The rule was “List as many homes as you can, cold call, advertise, mail, whatever, but list and it will sell.”  Badda bing, badda bang!

But let’s admit it, this market has dramatically changed how we play the game.  We had about a dozen total closed transactions in my entire county last month, so there is almost no volume to speak of, and certainly not enough volume to keep 327 agents alive.  Okay, 70% of those agents are practically dead, but that still leaves 98 agents clawing each other over the scraps.

Here’s the dilemma as I see it.  Clients tend to be high maintenance these days.  They are frustrated.  They want to know what’s going on, why their neighbor sold their house in 10 minutes at full price, and explanations for 100 other mythological rumors.  Listing maintenance is extremely time consuming, more so now than in many years.  I applaud Chris’ 1.0 argument for going back to basics, and Jeff’s diplomatic affirmation, but my argument is that lots of listings may actually be a great way to go broke right now.

Okay, I admit I don’t have Jeff Brown’s IQ, Chris Johnson’s stamina, or Greg Swann’s common sense, but I am a genuine bald buy who spent some time in Arizona, and so I feel some affinity with these guys.  Let’s just see how sharp these guys are.  Yes, I’m looking for wisdom, and I’m dumb enough to admit that.  But I think this is an issue that Realtors around the country are grappling with, and the answer has major implications for our clients.

Here we go:  When it would take about 100 listings here (and many other places around the U.S.) to sell one house every other month, at least statistically, and when an agent cannot manage more than about 20 listings with such high maintenance clients right now, it seems to me an agent can easily go Read more

Blog makeovers with traffic source in mind.

I have been really enjoying Stephanie’s latest two posts. One’s here. The other here. I also cannot help but notice that a lot of people are getting into updating their blogs and changing how they are presenting themselves to the world. I could not be more thrilled.

We are doing many of the same things in our Louisville blogging group. (Think of it as our own little scenius.) Making wholesale overhauls of our blogs (in my estimation) is part of all of our 2009 marketing efforts. I just want to share some of the things we are finding as we downshift and shove our collective right feet into the carburetor for 2009.

When we plan a blog, we begin with the traffic source in mind. (huh?) In other words we start with a clear idea of whether the blog will attract people via SEO, Paid Search (PPC), Word of Mouth, HomeGain, Social Media or what. All of these are LEGITIMATE sources of traffic. ALL of them can be highly profitable. All can connect you to clients if they are prepared properly. And each will have their own likely entry point into your blog.

Does it make a difference how you lay out a blog which traffic source you are going to use? In my opinion, yes.

At Unchained in Orlando, Kelley Koehler gave a great example of setting up specific landing pages for Paid Search. One of the great benefits of PPC and services like Home Gain’s BuyerLink program is that you can choose which page to send the traffic you are BUYING to. (Meaning that if you create landing pages appropriately, you will increase conversion…).

SEO will mostly send folks to your home page and to the posts of your blog. Why because that is where most people will link to you. Also with word of mouth. BUT, posts also get a lot of rankings attention in search. By thinking these things out and designing your blog correctly you can drastically improve your blogging results. You can send the right folks to the right page. You can also have a call to Read more

Screenplay: I am Switzerland…(with a French 75 chaser)

No.  Upon final rewrite, make that Lichtenstein, a  tiny cinematic metaphor freezing its alpine ass off smack in the middle of a much larger, tempestuous world money market.  I’ll declare the Swiss Franc my new currency—diminutive, but not to the point as to be completely overlooked at the box office; still along the lines of cinema verite mind you, but hedging toward a safer ‘middle’  ground.  For, to be artistically and financially agnostic, is to be, as Studs Terkel once put it, “merely a cowardly atheist.”  It’s like trying to sift layman sense from a Steely Dan  harangue sans the jazzy guitar rides….sober. ‘Careful what you carry…’

So I go to the movies to willingly suspend disbelief.

I walk past the marquee, daring only a brief, side-swiped glimpse at my own bankable image in the reflection. Until witnessing in person, The Curious Case of Benjamin Button, I never thought I could ever bear a resemblance to Brad Pitt.  But Voila!….there I was, up on the silver shroud, lurking (the first hour only, to be sure) like the penny pinching AARPer I’m becoming.  An old man on the surface, picking through the Big Board rubble for some common retirement ground, I search for my own safe spot  in Pharmaceuticals or Technologies.  But, alas,  feeling the  Fourth Quarter financial shiver in my brittle bones,  I panic like every other old man on my ward at 4PM Eastern Time on Fridays and sell.  Like the French, I retreat and quickly convert to cash.  Where do people in the South of France run to at the end of the trading week, I wonder?   If still around this summer, I’m taking the entire month of August off, I decide. If only I were bright and wealthy enough to meld into the European Intelligentsia (does it still exist?) for good, or romantic and brave enough to join the Foreign Legion for even a short stint.  If only….

I’d drink stiff coffee, talk shit all day long with the expatriates, and take cover only when truly necessary.  I’d jot caustic notes on the backs of napkins (and into my iPhone Read more

Doing the right kinds of repairs and remodeling to your home is the key to maintaining its resale value

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

 
Doing the right kinds of repairs and remodeling to your home is the key to maintaining its resale value

Cleaning, painting and doing small repairs around the house are just about unlimited virtues for homeowners.

They’re a matter of necessity for people who hope to sell their homes. Only the best-prepared homes are selling at premium prices right now, with the rest going at or near the lender-owned price.

But even if you’re not selling, staying on top of the little things promotes your enjoyment of the home, and it helps to sustain its resale value. At a minimum, regular maintenance will help you catch small problems before the become big, expensive problems.

But if doing little jobs matters a lot, what about doing big jobs? Should you redo the kitchen and bathrooms while the market is low? Should you convert the carport into a garage and the patio into a family room? Should you add on a brand new master suite?

The definitive answer to all these questions is: Maybe.

Remember that the Phoenix real estate market may be down for years to come. It’s possible you won’t see a return on your investment for quite a while.

On the other hand, if you know you’re going to be in the home for the next five years, and if a new kitchen will substantially improve your enjoyment of the home, it might be worth doing.

Labor can be very cheap right now, and money is easy to obtain if you have equity in your home. But you have to resist the urge to over-improve for your neighborhood. Brazilian Blue Marble is gorgeous, but it probably won’t be worth more than Corian or Formica countertops on resale.

Serious additions are a bigger question. If you know you’re going to be in the home for five years, you’re probably okay. If the addition makes sense — if you live in a neighborhood of two bedroom homes, adding a master suite makes great sense — then go ahead.

Build with permits and follow the building codes, though. The worst thing you Read more

Every Team Needs a Rake: My 1.0 skillz payz the billz.

In the spirit of transparency, let’s get something out on the table.  I’m a rake.  I’ve spent a total of 3 years full time in Real Estate, and another 4 in mortgages.  Today?  I’m using the phone to bang out deals as a freelancer.   I was dually licensed for about a year.  My first full year was 2003, and I sold 31 sides.  My second year, I sold 38, and in 2005, I sold 42.  Context. I’m saying this not to brag.  But I didn’t spend one dime on a display ad.  My website was stupid and ineffective.  And, I had an horrific cancel/expired rate as an agent (not for my market, but I hadda know better).  I probably sold only about 65% of my listings, during the ‘boom times.’

Before you laugh, Columbus, OH has had a head start on the depreciating market.  We had foreclosures and other stuff thanks to the stupidity of the “2/1 FHA Buydown,” that qualifies you for the payment based on the first year.   Columbus is a noted test market, and I guess the government wanted to test market foreclosures here before they rolled it out nation wide.  (The buydown isn’t stupid, the qualifications are, and that made it easy for me to see and predict accurately what was to come down the pike w/r the shortsale mess).  Columbus, I don’t think ever had a year with a lower DOM average than 110, and we’ve never had more than 70% of our initial contracts end in a closing.  Not since 1997, at least.  HUD  wanted to get people in homes, sure, I get it, but qualifying a house on the first year’s  bought down payment under FHA guidelines is insane.  Not nearly as insane as wagging your finger at brokers for bellying up to the slop trough that you put out for them, but I digress–this isn’t a political post.

I got my business by using three basic tools: Haines Criss Cross Plus, a C# do not call scrubber that my buddy Rob built for me and Microsoft Excel.  I’d grab a list of people Read more

Silver Lining of Real Estate Market Correction Hiding In Plain Sight

Gonna be down and dirty today with a strategy real estate investors aren’t using nearly as much as they should. I wrote a post on the subject on my own turf, but thought it important and valuable enough to give it some visibility here. The results this strategy can potentially produce are, in my experience, sometimes pivotal in getting retirement goals back on track, or even more dramatically, raising them from the dead.

So many real estate investors own many properties. They’re located in different areas. sometimes different parts of the country. Some were acquired long ago, some, not so long ago. Some in areas blessed with ungodly appreciation — some that dropped like the anchor on the USS Ronald Reagan 20 minutes after escrow closed.

Earlier this week I spoke to an investor wanting to know how to get out from under some losing income properties. They were worth less than he paid for them, but there was still some equity there if he were to sell them. Further questioning revealed his portfolio also had some long term winners that had increased in value impressively over the years, even after nearly four years of the current brutal market correction.

This is one of those silver lining strategies that should really be looked at as the perfect silver lining storm.

Told this investor he should sell ’em all this year, and to get started around 4:30 yesterday afternoon. Now, of course that doesn’t mean everyone should take that route, but the strategy is as follows.

Long term capital losses (held more than a year) offset long term capital gains. Simple as that. If, for example, you own a couple props bought with bad timing, that will produce losses, those losses will offset the gains on your gold medal props. This approach will yield many different very positive results — the escape from capital gains taxes being just one — and sans the use of a tax deferred exchange. How cool is that? The various perks are listed in the linked post. Not all of the cool potential results are listed, as Read more

What is the value of a day: Surviving No Matter What.

I’m the nuts and bolts guy here.  I don’t have the grace of Greg, the congeniality of Brian or the panache of Geno.   What I will do with out a big damn brain this year is grind out a great living in an imploding economy.  No laws, nothing will stop that.  And with each successive “anti greed act,” it’s gonna get harder.  2009 is war.  WAR.   There are major forces corralling those of us that wanna be independent, and obligating our future efforts in the name of bailouts.

More independent people will go crawling back, hat in hand, to the behemoth employers, the beneficiaries of the laws passed to shackle us into slavery.   And I have a hard time believing that this isn’t at least in part an aim of all of the bailoutorama.

But that doesn’t have to happen to anyone–the form the chaos will take is unpredictable, but the fact that there will be chaos is a certainty.

We can out hustle, out think, out work, and out-do all of the scumbags that are stealing from us (supposably at our behest).   And we can make what’s left of 2009 the very best and most profitable year.   The new economy is placing a premium on survivors that don’t panic, can deal with the OODA loop, and can nimbly maneuver through are market.   So here’s a list of killer questions:

First things first:  Questions about your own business/finances.

  1. How much cash, per day, do I burn through?  (Add EVERY single expense)
  2. What can I eliminate or reduce?  What can’t I?
  3. Is my car payment more or less than my health care payment?
  4. Am I saving 1/2 a month’s expenses every month?  Or am I spending money?
  5. How much cash do I need to earn to cover all of my expenses AND have enough to pay taxes?
  6. How much cash do I need, per day that I intend to work, to cover cash need, peak experiences AND pay taxes?
  7. How many deals/loans/widgets do I need to sell/put together per year to make this happen?
  8. What peak experiences do I want (disney, losing weight, etc) and how much do they cost?
  9. How many new people will Read more