There’s always something to howl about.

Category: Real Estate (page 87 of 266)

Free “gifts” for real estate webloggers: “The need to deny influence is damaging to the soul”

On Vendorslut Eve, here are a couple of quick notes on free “gifts” and their intended influence:

Richard Riccelli points out this New York Times article:

Starting Jan. 1, the pharmaceutical industry has agreed to a voluntary moratorium on the kind of branded goodies — Viagra pens, Zoloft soap dispensers, Lipitor mugs — that were meant to foster good will and, some would say, encourage doctors to prescribe more of the drugs.

No longer will Merck furnish doctors with purplish adhesive bandages advertising Gardasil, a vaccine against the human papillomavirus. Banished, too, are black T-shirts from Allergan adorned with rhinestones that spell out B-O-T-O-X. So are pens advertising the Sepracor sleep drug Lunesta, in whose barrel floats the brand’s mascot, a somnolent moth.

Some skeptics deride the voluntary ban as a superficial measure that does nothing to curb the far larger amounts drug companies spend each year on various other efforts to influence physicians. But proponents welcome it as a step toward ending the barrage of drug brands and logos that surround, and may subliminally influence, doctors and patients.

It’s not just a matter of subliminal influence. When every pen and pad you use comes from a vendor, the vendors are underwriting your office supplies budget. The “in-kind” gift translates directly to an “in-cash” benefit.

Here’s a very complete disclosure on this issue of “gifts” and affiliate marketing from the Mortgage Sales Blog:

While most of the information provided on this mortgage blog does not include product pitches or personal agendas, some of the authors may generate income by selling services to loan officers or real estate agents.

Personally approved mortgage vendors participate on this blog as a way to expand their online reach, develop relationships with our readers, and prove that their products are worth taking a look at.

In the instance where it is not obvious, I will make every attempt to be fully transparent with our readers about any affiliate agreements where the Mortgage Sales Blog receives financial compensation by promoting a product or service on this blog.

As of Jan 4th, 2009, the Mortgage Sales Blog (Mark Madsen) has not promoted any product or service where an Read more

Filters Aren’t Just for Coffee

As I take stock of 2008 and move into 2009, I’ve decided to  develop and implement a strategy for transforming my business moving forward.  I’ve settled on a theme for this year – creating, delivering and leveraging knowledge.

My goal for 2009 is to become a better filter.

I want to become an expert filter – more importantly, be recognized as an expert filter – transforming information into knowledge.  I had a very interesting conversation this morning with a client regarding the state of the current real estate market in Chicago.  After three attempts of getting several properties under contract, my client and I finally succeeded in getting a deal together.  We visited the unit again this morning.  After seeing the unit, I sensed his apprehension when talking about next steps.

He wants to renegotiate the price now after having the property under contract.  He’s been actively reading on the blogs that prices are continuing to fall in the US – he cited Case Shiller’s recent price decline of 18% as the reason why he should pay even less than our negotiated price.

This became a real example of why information is not knowledge.

I became a filter – he was not really aware that the indicator, often touted in daily news sound bites about the ailing US real estate market, was actually an aggregated statistic for 20 metro areas in the US – Chicago faring slightly better at alittle over 10% decline since the same period last year.  To drill even deeper, the indicator measures single family home prices, not condos .  The decline hasn’t impacted every neighborhood equally.  Perhaps more importantly, we have spent the past 5 months searching for properties in four different neighborhoods within the city.  The process was an eye-opening experience for him – he learned that while inventory was plentiful, there were only a handful of properties actually worth buying.

While I am not keen on resolutions, I have decided to spend less time listening to the 24 hour, continuous coverage of catastrophe that our news has become.   Without the proper context and filtering, consumers are simply mis-educated and misinformed regarding Read more

If selling is not a viable option, you need to fall in love with your house all over again

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

 
If selling is not a viable option, you need to fall in love with your house all over again

The foreclosure market dominates the news, but it remains that good old-fashioned American homeowners occupy the overwhelming majority of Phoenix-area homes. That’s the good news.

And here’s some even better news: If you have significant equity in your home, you can probably refinance right now, reducing your monthly payment.

But here’s the bad news: Unless you absolutely have to, you probably won’t be moving for at least five years.

Don’t believe the number you see on that refi appraisal. At most, your house is worth the same amount as a comparable lender-owned home, plus the net cost to bring that home up to the livability of yours.

Swallow hard. You may have read in the paper that Americans lost $2 trillion in real estate equity in 2008. That’s a specious number. Money is the stuff you can fold up and spend. The equity in your home is unrealized money. You weren’t rich when your home was worth a lot, and you’re not poor now that it isn’t.

But what you are is stuck, practically speaking.

You don’t want to sell your house for what it can bring right now. If you do, you will lose money. But, refi or not, you’re making your payments.

If your home really was purely an investment, like a stock, it might be wise to dump it, take your lumps and move on.

But your home is not only where your heart is, it is very probably where most if not all of your savings are. You need to wait for the market to turn so you can sell at a profit.

So what should you do?

My advice: Paint.

Patch that stucco and paint it. Caulk the wood at the eaves and the trim and paint it. Clean out the house one room at a time and patch and paint the walls, repairing and painting the molding.

You’re stuck in your house for the next five years. It’s time to fall in love with it all over Read more

A premium appeal for Vlad Zablotskyy: If you’ll give $200 to his defense fund, we’ll give you a set of BloodhoundBlog Unchained DVDs

One of the biggest stories we followed in 2008 was Vlad Zablotskyy’s legal battle with ePerks.com. The fight ended in a settlement, about which it were better for me to say nothing, but it suffices to say that ePerks has filed for bankruptcy.

Working together, we raised a ton of money for Vlad’s Legal Defense Fund — but not nearly as much as was needed. Brian Brady and I would like to do what we can to help reduce Vlad’s legal debt.

So here’s our proposal: If you will make a $200 donation to the Vlad Zablotskyy Legal Defense Fund using the PayPal button shown below, we will send you a complimentary set of DVDs from BloodhoundBlog Unchained in Phoenix, 2008. The DVDs sell for $199, so you’re essentially getting them for free, in exchange for your donation.

Why are we doing this? Because Vlad jumped on the grenade for all of us. What happened to him could have happened to any one of us. For my own part, I have tried to make this episode instructive for any other corporate attorneys who decide that webloggers are easy targets. But it remains that Vlad took the flak that could have been aimed at any one of us. We can only imagine what he and his family have been through this year, but at least we can help to lift this finacial burden.

Click on the “Donate” button and let’s put “paid” to this kind of intimidation against real estate webloggers.


Support Vlad Zablotskyy’s Defense Fund
Defend your own right to free speech!

Bloodhounds In The Emerald City

RE BarCamp Seattle has a time and a date.  From Todd Carpenter:

Rich Jacobson and Brad Andersohn from Active Rain, along with Drew Meyers from Zillow have established the basics. A date and venue. February 13 at Zillow Headquarters.  This happens to follow a Bloodhound Unchained preview event held the day before, also at Zillow headquarters, and also free!

Greg and I are pretty stoked about heading to the Emerald City.   Scott Cowan signed up for Bloodhound Unchained Phoenix ‘O8 but had to decline participation to tend to familial duties.  Since then,  Scott’s been lobbying us to head up to Seattle to out on our “Mini-Unchained Event” for Coffee Bean Town.  Last month, I told him we’d gladly come if he could round up a venue and a group of eager people.  Scott called the folks at Zillow and we arranged to be a prequel to Seattle RE BarCamp.

Our event will be from 1PM until 5:30 PM, on Thursday, February 12, 2008, at the Zillow Headquarters. We’ll be talking about Direct Marketing (online and offline), Social Media Marketing, and Blogging.  David Gibbons and Rich Jacobson agreed to speak, as well.  Marlow Harris raised her hand to attend but I’m hopeful to have her to speak.

Our concluding session will be a debate between Glenn Kelman of Redfin.com and Greg Swann.  They’ll be discussing Glenn’s thoughts about whether size really matters.  Glenn outlines the case for why the little guy might get squashed:

This is a change. Marketing, which used to be the large brokers’s primary advantage, is actually getting cheaper — if Bloodhound has proved anything, it’s that the web has made marketing a question of what you have to say not how much you have to spend.

But the cost of running a real estate search site is rising fast. Large brokers throw money (if not always expertise) at the problem, while small brokers struggle to compete. The small brokers ask MLSs to provide a common set of services, like listing alerts, but the large brokers sometimes block these efforts as being beyond the MLSs’ charter.

Greg Swann thinks the little guy has the advantage:

I want Read more

Content is King: How do you crown yours?

I was quietly writing on a different post this morning when an email or two from my buddy Cal Carter kicked me in the butt and made me switch gears.

One of the first principles of internet marketing (and marketing in general) is that you follow the eyeballs. Preferably the RELEVANT (targeted) eyeballs of those who are mostly likely to use you product or influence those who will. Wherever they are find them. Target them. Starting with the highest ROI and working down the list until you have all of the business you can handle.

Why do we optimize for Google vs Yahoo or MSN?
More relevant eyeballs to be had at the least cost. Simple as that.

Why do we use facebook?
Brian Brady showed us in Orlando that you can HIGHLY target niche eyeballs using it. And those coming to Unchained in Phoenix will hear MUCH more about that I am sure.

Would it surprise you if I told you that for the last month or two, over 30% of the traffic to EricOnSearch has come directly from Twitter? (true story…).

That’s what I get for listening to Teri (thanks Teri!!) and finally trying to make solid business use of Twitter! 2 new customers, and much more traffic every day. (Hint: What’s your Tweet / Follower ratio?) That’s the key metric in terms of ROI in my world.

(side note: Do you have the authority (read: credibility) to send 100 people to your blog simply by letting them know that you posted? Here is the BEST question…when they visit, are they impressed enough to link to it? Maybe even to syndicate it?)

Pat Kitano and friends are promoting Social Media conscious marketing as “online marketing without blogging”. Of all of the things I think Pat gets right, this is a point I (humbly) disagree with. Blog is NOT a 4 letter word (contrary to popular belief).

LAZY is. (I don’t wanna blog is too often code for I don’t wanna put effort in. Time to face that truth and call it what it is.) Own that.

I totally agree with him that a Read more

Last call for end-of-the-year discounts on tickets for BloodhoundBlog Unchained in Phoenix, April 28 – May 1, 2009 — and catch us for free at Zillow’s offices in Seattle on February 12

This is the front

and back

face of a door-hanger we have going out in high-equity neighborhoods starting January 3rd. In most of Phoenix, for now, listing is essentially limited to short sales and lender-owned homes, so most of our time this year will be devoted to buyers. But if this card — or variations on it — can pull the way we want it to, it should be worth around $3,000 a week, net of all expenses. The lord knows we can use it.

Brian and I keep getting mail from people wondering why we’re going to be teaching weblogging at BloodhoundBlog Unchained in Phoenix. We’re not. All we ever teach is marketing — on-line, on paper and face-to-face. There is a piece to this door-hanger that you’re not seeing that should more than double its response rate. That’s marketing — and there is no one else in the real estate industry who teaches the kinds of marketing that Brian and I cover as a matter of course.

You can catch a preview of our marketing curriculum in Seattle on February 12th. We’ll be doing a free Unchained preview at Zillow HQ, 999 Third Avenue, Seattle, WA, on Thursday, February 12th from 1pm to 5pm. Scott Cowan is organizing the event with help from Drew Meyers and David Gibbons from Zillow. Marlow Harris will be joining us, along with some other Seattle blogging luminaries. The grand finale will be a debate between Redfin.com CEO Glenn Kelman and BloodhoundBlog iconoclast Greg Swann, moderated by Brian Brady, American Real Estate’s Number One Marketing Maven.

I gotta go. I’m showing this morning. But I wanted to remind y’all that today is the last day for a couple of big discounts on Unchained tickets. The Early-Bird price — $100 off — goes away altogether today. And the Unchained Alumnus discount will drop from $200 to $100 at midnight tonight. That’s $100 in savings, either way, for acting today.

Click the appropriate button below to sign up now.

CyberProfessionals: $397


















Unchained Alumnus: $497 (you must act on this offer before 01/01/09)


















Early-Bird Price: $597 (you must act on this offer before 01/01/09)


















The full price Read more

A 4.5% Mortgage In Every Pot

Embrace the New Deal!  The Bailout has made its way to Main Street.

The Fed’s gonna do it..for real:

The Federal Reserve on Tuesday announced that it expects to begin operations in early January under the previously announced program to purchase mortgage-backed securities (MBS) and that it has selected private investment managers to act as its agents in implementing the program.

Under the MBS purchase program, the Federal Reserve will purchase MBS backed by Fannie Mae, Freddie Mac, and Ginnie Mae; the program is being established to support the mortgage and housing markets and to foster improved conditions in financial markets more generally.

Here’s Sean Purcell and I, talking on BloodhoundBlog Radio, about today’s announcement (15 minute podcast)

PS:  Expect an orgy tomorrow and Friday, in the MBS markets….if the traders fly back from Cabo tonight

The return counter — Looking AG’s Trojan Horse in the mouth: MyMarketWare works hard for the money, almost hard enough…

Continuing with my discussion of the bribe/gifts proffered to the contributors to Agent Blunderbuss, here’s a quick look at MyMarketWare.com.

I looked at this product when it was introduced and was not all that impressed. I like it better on second glance.

What is it? YASPWSS: Yet Another Single Property Web Site Solution. Like many of these services, the offering is pretty light-weight. And like seemingly all of them, it inflicts treacly music upon the end user. But, to be fair, the price for a site, hosted for a year, ain’t bad.

Keep in mind, as you read, that my frame of reference is our own engenu sites. I can do anything I want, to any level of detail or depth that I want, and I can reorganize an entire, huge web site on a whim. There is no YASPWSS on the market that is going to impress me.

MyMarketWare works to one level deep. That is, from a site’s “home” page, you go one level down, no deeper. Given that architecture, I would have loved to have seen at least the on-site links done within an iframe on the index page — pseudo AJAX.

You can link to off-site pages, which is a bonus, since it makes the sites effectively infinitely extensible.

The pages of the sites themselves are built in ASP, with a huge block of obfuscated code near the top of each one. Positioning on the pages is effected with both CSS and HTML tables, which seemed odd to me. MyMarketWare promises decent SEO from these pages, but they seemed very verbose, to my eyes.

I personally want a lot more photos than MyMarketWare makes available, and I want to be able to sort and organize them by category. The slide show software, apparently available on one page only, was fairly robust.

There are decent contact and scheduling forms, and MyMarketWare promises to feed your site’s details to various Realty.bots — which is probably also being done by other vendors you are using.

My overall rating of MyMarketWare’s demo single-property web site was “eh” but not inadequate. It does a decent job at what it does, but Read more

House Keeper

Can a man save his face, his ass, and his house at the same time? The moral and Big Board gods claim naught.  But still, rooting through the year end financial rubble atop my desk—the economic equivalent of the Gaza Strip, I consider the question (pondering Realtor that I am).

I tally my Christmas card total while I search the mail pile for fellow holiday survivors. I uncover just three scant acknowledgements this dim Season; one from my parents with a modest check enclosed (made out to my wife, of course); one from my daughter with a nice handwritten note; and one from our missing housekeeper. The latter is a nativity scene, written in Polish, and sent to our house via Air Mail.  I’m assuming it either says ‘Merry Christmas!’ or ‘I Quit!’ We haven’t seen her in weeks. Perhaps she moved back to her motherland where she can actually make ends meet scrubbing floors. I suppose she just resigned before we had to let her go anyway. (I mean really, who can’t keep their own house clean?)

I turn back to the task at hand and continue sifting through the pulp, avoiding paper cuts, and careful to sidestep 2nd Notices from lesser, non FICO reporting insurgents; my dentist, the Chicago Tribune Classified Section, the lawn service guy who never picked up my leaves this year. I hear a mutter beneath the wrack before electronically mine-sweeping my Schwab account to stave off the more formidable creditors for yet another 40 days and nights (with Grace Period); Bank of America Mortgage, BMW Financial Services, my genius accountant.

I look again at the three lone Seasons Greetings and reflect. I haven’t physically written, licked, stamped or sent out an actual Christmas card in years—not to family, not to friends, not to clients. I’m surprised I receive anything in the mail at all, to be honest. Between Twitter, Facebook, and Harry and David, all I seem to do anymore is Text and order online. Like an iPhone crackwhore, I find myself scrolling the cyber alleys for expired listings and below market abandominiums.  It has to Read more

The return counter — Looking AG’s Trojan Horse in the mouth: No mere API-ing ape, Dwellicious is a true dead-pool mash-up

O wad some Power the giftie gie us
To see oursels as ithers see us!
It wad frae monie a blunder free us,
An’ foolish notion:
What airs in dress an’ gait wad lea’e us,
An’ ev’n devotion!

        –Robert Burns, To a Louse

In a comment on AG’s bribe/gift extravaganza, I said:

And, yes, the Dwellicious campaign stunk to high heaven. It’s headed straight for the dead pool, once it actually launches. The same dumbass “idea” has already failed several times. To say anything else is absurd.

That remark turns out to be grossly unfair. Dwellicious is not all-on-its-own to the dead-pool destined, it is a mash-up and mash-note-like send-up of a vast host of future dead-pool denizens.

Here’s the pitch. People will shop at lots of different Realty.bots, see? So Dwellicious gives them an easy way to organize all the houses they are finding on these various sites. It has social-networking tools built in, since, apparently, social-networking-type homebuyers can’t even go to the bathroom without permission from their TwitterButtBuddies. Not only that, but Dwellicious taps into every available Realty.bot and social-networking API, which will possibly prove to be astounding if anyone ever accidentally uses this silly site.

I watched the Dwellicious PR campaign a few weeks ago, assuming that it had to be astroturf, but today is the first time I have paid even one second’s attention to the product itself.

It’s actually quite an instructive clusterfrolic, if there are web entrepreneurs out there who want to learn how to get just about everything wrong.

Here’s the straight dope: Dwellicious seems to have been developed by paying devout attention to the TwitWit echo chamber — without one second or one dollar being devoted to actual market research.

Premise: People will shop at lots of different Realty.bots.

This is almost certainly false. Homebuyers window-shop at sites like Trulia and Zillow. When they get serious, they move to a particular, robust and — important concepts ahead — complete and non-redundant IDX or VOW search engine.

(A subsidiary premise of the entire dead-pool-bound Realty.bot movement is the idea that some strange imaginary people might want to purchase a residence in more than one major Read more

A trolley comes to Phoenix: Tendency in reporting and why it matters

So it’s almost five days since I dropped the dime on the bribe gifts being thrust upon the contributors to AG. Has anyone publicly renounced them so far? We got to see Jay Thompson issue some tepid caveats about the gift products — from our pages, not AG’s. And we got to watch in horror as Russell Shaw imploded, which wasn’t pretty. But if anyone has actually come out and said, “Get thee behind me, Satan!” — I’m not aware of it.

Doesn’t much matter, by now. The moment is gone.

You — meaning you, the invisible reader — will react as you choose, and that is not only your business, but it’s your perfect right. But I can give you a very simple lens for understanding the issue, one that not even the chorus line of tap-dancers who showed up in our comments could manage to gainsay:

Suppose you are finally about to be interviewed by the real estate reporter from your local “City” magazine. Very big deal, very exciting, maybe your chance to break through to the target market you’ve spent a fortune trying to attract. But then you discover that the reporter has taken $2,000 in in-kind gifts from your fiercest competitor. How does that make you feel? Is it possible that the reporter is on the up and up and the gifts mean nothing? Well… yeahhhh… Is is plausible to you that you are about to be served up like a plate half full of cold leftovers? That’s what’s running through your head, isn’t it? Taking expensive gifts from people you write about doesn’t mean you are necessarily corrupt, but it sure makes you look and smell corrupt.

In our comments threads, there were a lot of specious arguments made in defense of taking these bribes, or at least not renouncing them. One of them was the notion that “everyone is biased.” This is a very common fallacious dodge — which is to say a persuasively invalid argument. We start by acknowledging the obvious facts that each of us has a unique point of view, and each of us is operating Read more

The Goal-Getters Game: Yes, you want to set goals for 2009, but here’s a game to make sure you actually follow through on them

The Goal-Getters Game is a variation on some of the ideas we have been playing with in email since Thanksgiving.

So first: ‘Tis the season for New Year’s Resolutions, made in haste and forgotten more hastily.

The Motivational Speaker Circuit, both inside and outside of the real estate world, is always all over the idea of goal-setting. But real changes in you life can only come from goal-achieving.

In our email discussions, I brought up Jerry Seinfeld’s “don’t break the chain” system of goal tracking.

Years ago when Seinfeld was a new television show, Jerry Seinfeld was still a touring comic. At the time, I was hanging around clubs doing open mic nights and trying to learn the ropes. One night I was in the club where Seinfeld was working, and before he went on stage, I saw my chance. I had to ask Seinfeld if he had any tips for a young comic. What he told me was something that would benefit me a lifetime…

He said the way to be a better comic was to create better jokes and the way to create better jokes was to write every day. But his advice was better than that. He had a gem of a leverage technique he used on himself and you can use it to motivate yourself—even when you don’t feel like it.

He revealed a unique calendar system he uses to pressure himself to write. Here’s how it works.

He told me to get a big wall calendar that has a whole year on one page and hang it on a prominent wall. The next step was to get a big red magic marker.

He said for each day that I do my task of writing, I get to put a big red X over that day. “After a few days you’ll have a chain. Just keep at it and the chain will grow longer every day. You’ll like seeing that chain, especially when you get a few weeks under your belt. Your only job next is to not break the chain.”

“Don’t break the chain,” he said again for emphasis.

Teri has mentioned that she is already Read more

The Case For Paid Reviews

As I’ve said in the past, I’m not a fan of the term “Web 2.0.”  I’ll take it a step further and say that there are many aspects of the “Web 2.0” movement that I dislike.  There are enough aspects of the movement that I find silly that I can, and will, fill a post (but not now.)

Contrary to popular belief, I am a fierce capitalist.  Granted, I do love the open source movement, but I also think that there are ways to monetize open source, working within our capitalist system.  Much of “Web 2.0” seems to be anti-capitalist.  Users want everything free (no registration, no paid memberships, etc…) and in many cases don’t want site owners/bloggers to earn directly from their endeavors.  It should be a labor of love, right?  Any money earned should be earned indirectly, the 2.0’ers say.

Chris Johnson hit some great points in his recent post, and I agree with 95% of what he says.  However, I don’t reach the same conclusion.

In the past, paid blog reviews were fantastic for SEO, but with Google’s call to turn in paid links, and with the proliferation of the nofollow tag, this isn’t the case any longer (for white hats.)  However, Paid Reviews are still fantastic ideas for many vendors.  Why?  Highly targetted traffic.  Traffic that can, and will convert.  When was the last time you clicked on an ad when reading a blog?  However, would you follow a link to a vendor, if a blogger you respect wrote a thoughtful review, and the product pertained to you or your business?  Many people do…even when they know the review was purchased.

I disagree with Chris’ conclusion that all Paid Reviews are bad for blogging.  However, I do agree that paid reviews can, will, and should evolve.  He’s correct that Ratespeed could possibly have become better, had an intelligent conversation occurred, and all aspects been discussed.  How much more valuable is honest criticism over blanket praise?  If the community you’re targetting recommends you change, and you make those changes, how would that community respond?  There’s real value in that discussion – value Read more