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I Prefer Vera Wang

I am not a gay man but I’d play one on television if I thought there was a Golden Globe in it for me.  In fact, my wife insists that her next husband will indeed, be a gay man and I’m cool with that as long as I’m not still around to witness all the fabulous shopping thrown back  in my face.  And  just so you know that this Op-Ed is not coming from a squinted biased eye, I’m hereby going on cyber-record to announce to the entire Blogosphere that our bride’s maid was a male fashion designer, my best man was a lesbian, and we first encountered our bisexual ceremonial minister at a coffee shop in Boystown.  If you don’t believe me,  just ask our poor parents.  And perhaps this is why a certain Jason Wu recently ‘Requested’ my Friendship on Facebook.  (The fact that I even know who the man is serves as the premise for this piece.)

And thus, without doth protesting too much, if you ever met me in person you’d clearly see that I’m not physically fit enough to be gay—or at least, not the sort of gay I’d prefer if druthers were in order. I do know a little bit about fashion, though, and I have to declare that I am totally pissed that Michelle Obama did not wear Maria Pinto at the Inauguration. There, it’s out. I said it.

Allow me to digress.  Maria Pinto is a well known Chicago based fashion designer who studied under Geoffrey Beene.  She is the twin sister of my best friend and managing broker, Joe Pinto,  and a personal friend and designer-of-choice of my wife, Mona. For the past 18 months,  none other than the Michelle Obama, has been  frequenting  the Pinto showroom for complimentary couture and thus, dangling the possibility of  wearing Maria Pinto for The Inauguration.  There were nods and winks but I can say no more.  And since ‘ The Dress ‘  will ultimately hang in the Smithsonian alongside the likes of Jackie Kennedy and First Ladied others…well, needless to say…this was all a pretty big deal Read more

The Agents are the Heroes

How many remember the movie Back to the Future?  I always liked the play on words in that title and I am liking it even more lately.  Why?  Because as agents that is exactly what we are doing:  going back to the future.  I believe the marketing theme for 2009 is going to be “old school.”  Going back to the “old school” ways of marketing… done with the tools of the future:  back to the future.  (Caveat: the future for me has a very Mr. Magoo aspect to it.  I appreciate the high-tech agents among us keeping the laughter down to a mild snicker.)  Chris Johnson understands “old school”, he was bleeding it here and here.  Jeff Brown understands old school – actually, Jeff probably learned this stuff when it was just “school”…

  • Touching your sphere of influence on a consistent basis is “old school” – using emails, webinars and blogging to do it is the future.
  • Tracking your marketing, your prospecting and your ROI from both is “old school” – using powerful software to do so is the future.
  • Picking up the phone and calling past clients or mailing something personal every day is “old school” – knowing there is no substitute for getting belly-to-belly is the future.

And WE are the future.  Those of us still here.  Our profession lost a lot of people last year.  Our profession needed to…  Many of us suffered just to make it this far and some of us are suffering still  (although some flourished… think about that).  But the point is, we are here.  We stuck it out because this “real estate thing” isn’t something we do on the side or because it’s easy money.  We are her because this is our profession.  We now reap all the opportunities of 2009… AND the responsibilities.  It is our charge to bring integrity and passion to everything we do.  You, all of you, are the heroes and don’t let anyone tell you otherwise.  You help people find their way, now more so than ever before, through a giant minefield of potentially devastating mistakes on their way to buying or Read more

David Bartels Redefines Mortgage Originators as “Borrower Advocates”

I had fun today because  I got to hang out with a bunch of mortgage salespeople.  I drove up the 5 to Irvine, epicenter of the sub-prime mortgage industry, to see the High Performance Strategies Seminar, hosted by David Bartels and Greg Frost.  David Bartels is an executive with Loan MagicGreg Frost is America’s first billion dollar originator.  The cool part about their accomplishments  is that they do the right thing.  Both are highly-principled salespeople who hustle.

David impressed me with his definition of our job as a “borrower’s advocate”.  He suggested that we would do well to align ourselves squarely with the borrowers.  While he never suggested that our lender partners are the enemies, his message was quite clear.  Originators need to help borrowers FIRST.  Banks are so puckered today that borrowers need a guide to help them interpret loan offerings, argue their case for approval, and secure the best terms possible.  When mortgage brokers fully embrace that concept, we will have earned the public’s trust.  Here’s David on Mortgage Sales Blog:

For some reason, originators get offended when a potential client wants to know detailed information about the terms of their new loan prior to completing a full application.

The mortgage rate question is a buying sign, not a shopping sign.

They ask about rates because all of the advertising in the news and media leads borrowers to believe that mortgage rates are a consistent means of measuring one broker or banker over another.

In reality, most borrowers have more important criteria for selecting a loan officer to do business with, like whether or not they can trust you.

The rate question is basically a qualifier. They’re not shopping rates, they are shopping you. It gives the borrower some insight into you level of transparency and ability to communicate on their terms.

How you answer the rate question will ultimately determine your success or failure at earning a borrower’s business.

Think about it, if a potential client is willing to speak with you about rates, then they are obviously interested in opening a dialogue about how your mortgage options will impact their financial goals.

What would Read more

Active Rain + Trulia = ?

Before everyone goes off on me here, let me state CLEARLY that I have no confirmed knowledge of the two joining forces. No marriage license, no paparazzi photo of one proposing to the other. No formal announcement arriving in the mail. So is there a wedding? Shacking up?

Who knows…only the two people involved.

I have no “scoop” here…but enquiring minds want to know. 😉

Jon Karlen reported some interesting happenings here. That was a while ago. So AR is looking to pick up MLS feeds.

Then a thread popped up a couple of days ago at Real Estate Webmasters here.

Read the links in there on Active Rain as well. You will see what’s making people think that at a BARE minimum, there’s some reason to believe that something is going on.

From my vantage point, I can see benefits to both entities if they were to tie the knot, shack up, or form some kind of alliance, either publicly or just a backseat (so to speak) sort of thing. From their point of view it would be great. They are certainly each primping themselves for the date described in the REW post.

From a REALTORS vantage point, and from those who have written content for months and years on AR or Trulia, would this be a good thing? My guess is the REALTOR community would say a resounding NO. From an Search Engine perspective, I’d agree. Big time.

Two questions. To AR & T execs: Are you in talks? To REALTORS: Does it matter to you?

I have far more questions than answers, and I think it will be interesting to see it play out…

More (if) as this develops.

Selling real estate the engenu way: Because I can make content-rich web sites so easily, I can make my points more convincingly

Can premium rental homes in suburban Phoenix throw off positive cash-flow at 75% of market rents?

An investor asked me that question the other day. It’s an academic problem, really, a matter of costing out typical homes to see how they perform under that scenario.

I can do that much standing on my head, but answering a question like that with a spreadsheet is not terribly satisfying. We live in a data-rich world, and I wanted for my investor to understand exactly what we were talking about. So not just the spreadsheet, but also MLS listings of typical homes. And not just the listings, but also detailed photos of those homes, with descriptions of what might be wrong with each one.

In fact, I could have answered the question any way I wanted, from tap-dancing on the telephone to an attempt to set a showing appointment. But I know from experience that the more questions I can answer in a completely credible fashion, the greater my chances of forging a long-term client relationship.

And that’s a big “Duh!” — isn’t it? How would I want to be treated if I were thinking of dropping some substantial fraction of a million dollars on investment real estate?

And this is where engenu comes in. I can shoot the spreadsheet across immediately, as an appetizer. But I’m not selling spreadsheets, I’m selling houses, so I put together a list of houses that I thought might be financially impressive. I toured each one, taking photos of everything, then came home and built an engenu web site from my findings.

I’ve been talking about engenu for nearly a year, but I’m not sure I’ve ever gotten the point all the way across. We use engenu to build our single-property web sites and to provide supporting documentation when we blog about homes for sale. We use it as a way of previewing homes for out-of-town buyers and investors, and as a way of communicating staging advice to our sellers. The language of real estate is photography, and engenu enables us to build (and rebuild) large, photo-rich web sites with minimal effort.

So: I came Read more

Reading the signs and portents of Obama’s America

We call it inauguration after the Romans, of course. Beginning at midnight on January 1st of each new year, the priests would take the augurs — the signs and portents — for the two new consuls, the duoviri who would govern the Republic for the next year. The ceremony would end with a long, slow march to the top of the Capitoline hill at dawn, at the end of which the senior consul for that year would sacrifice a bull. Only then would the new consuls and the senators convene in the Curia to take up the Republic’s business for the year.

And Janus, for whom January is named, is the god of doorways, presiding not just over beginnings but also endings. Today marks not just the beginning of Obama’s presidency, but also the end of the Bush era in Washington.

Both Bushes, pere and fils, seemed to me to be fundamentally decent people, quite unlike the man who served between them. But Bush the younger, by being so roundly reviled as president, has nowhere to go but up from here. Someday Americans will have the fortitude to thank this man for calling Islamofascism by its true name: Evil. In the mean time, the bull is no longer his to slay.

I’m less afraid of Obama than I was on election day, but still I fear for capitalism and for individualism. The good news, always, is that socialism cannot work. The bad news, always, is that millions perish in the process of discovering that socialism cannot work. Janus may well be opening the door to a renewed appreciation for classical liberal virtues, but it seems likely that the glorious light we associate with ages of reason may be found at the end of a long, dark hallway.

The one hope I hold today is to be found in the photo at the top of this post: I hope that today is the beginning of a post-racial America. Everything we’ve done about race so far, for four hundred years, has been pretty stupid. I hope it turns out that electing a black president was the first Read more

A Tale of Two Paradigms

Glenn Kelman’s recent Call to Arms brought to light for me the two  paradigms that exist within the realm of transacting real estate – the traditional broker/agent-centric view and the evolving consumer-centric view.  Ultimately both paradigms attempt to better serve the consumer, however, the perspectives are very different.

Glenn’s post queries why traditional brokers, i.e agent-centric business model, don’t embrace the consistent measure of customer satisfaction on an agent by agent basis after the completion of a transaction.   The question is extremely valid – measuring customer satisfaction is a way to preserve the integrity of the broker and/or agents’ brand.

I question the validity of the metric – customer satisfaction – what is the criteria?  In fact Glenn asked, “how do you measure customer satisfaction?”   Defining the criteria is critical to measuring the ultimate value of the outcome – is 9 out of 10 a valid measure?  What does 9 mean?

I’ve held the QSC – Quality Service Certified – Certification for almost 6 years.  After each transaction, a third party administers a survey to measure how satisfied my clients were with the service level I provide.  Interestingly, never once in 6 years have I had a potential client or prospect contact me because of my rating.   In an agent-centric model, I measure customer sat by referral and repeat clients.  I get measured on a scale from 1 to 5 and have been able to maintain a high level of satisfaction, but ultimately my clients have spoken more effectively about my skills and knowledge rather than my score.

While it may be important to know whether or not a particular consumer may recommend or even use the services of an agent and/or broker, I believe I need to know the “why?”.

The question has been asked many different times – what do consumers want?  Again, Glenn asserts that consumers are seeking more metrics on agents.  Depending upon whether or not a client is buying or selling, their wants have remained fairly consistent.

Buyers want assistance finding the the right home.  They also want help negotiating the sales terms and price.

Sellers want to price their homes competively Read more

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

BloodhoundBlog Radio: About Success With Jason Blackburn

Jason Blackburn of Laser Focus For Life was our guest on BloodhoundBlog Radio last week.  I “met” Jason on Facebook two months ago, when preparing for the “Power Of Twelve” seminar.  Jason wrote a referral script for my seminar and asked nothing in return.  That connection led to a number of telephone calls which made me realize that Jason had a lot to offer.

Jason points out that many of our actions are incongruent with our mission.  He explains that our actions need to be inspired by the “buy-in” from both our hearts and our minds.  Jason is not a “touchy-feely” success trainer. He’s a nuts and bolts sales pro with over twenty years experience.

I expect we’ll be hearing a lot from Jason.  You can hear our 40-minute interview with him here.

PS:  If you click only one link, click “referral script“.  Jason lays out a simple way to generate referral business in about 800 words.

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

Bloggers. Transparency. Stimulus. and Laxatives.

First off, the following blog post is NOT political. PLEASE do not try to turn it political. (If you do, you will be 301 (read: permanently) redirected to the fact that this is NOT political.)

It IS about bloggers trying to improve the world around them by shining light on a political process and making politicians more answerable to their constituents and less answerable simply to the power brokers inside the beltway. It is about my opinion that as long as there are bloggers who care enough to invest the time, they will have influence and authority.

In response to the House of Representatives’ proposal to spend $850 Billion on another stimulus package, a blogger (and a great new media consultant) who founded Kithbridge.com launched a new blog. ReadTheStimulus.org. What does it do?

Glad you asked. Here’s what it does. It takes the PDF documents of the draft spending bills that the government is known for spitting out and it converts them to searchable text and provides a search engine for folks (including the press, if they care to), to search terms and find how much of the bill is stimulative to the economy, how much is stimulative to certain lobbyists vs what is well just laxative so to speak.

Want to know if there is a bridge to nowhere in there? or funds for the mating habits of the iguana? Don’t think that will stimulate the economy? You can now find it within seconds.

I applaud the efforts of these bloggers to get the 335 pages out there, indexed and in a searchable form for the public so that folks on both sides of the political spectrum can debate it openly. (Note: they are going to post the various other proposed bills as well.)

Anyone want to make a bet with me as to how many of the politicians (from either side…again this is not political) have actually READ and UNDERSTOOD the implications of these 335 pages. If there were 10 of them in the whole House of Representatives who had personally read it cover to cover, it would surprise me.

One of the 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