BloodhoundBlog

There’s always something to howl about.

Author: Jim Duncan (page 1 of 1)

Realtor, Real Estate Ethicist

February 8, 2008

What will the NAR do with this?

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Realtor, Real Estate Ethicist

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It would be too easy to pile on the NAR, what with their recent tempests in respective teapots.  But here is a hypothetical –

What’s the NAR going to do in this scenario as described at SearchEngineWatch?

Adding more confusion to the case law surrounding trademark issues and search advertising, a Sixth Circuit federal court in Kentucky found that keyword advertising is a “trademark use in commerce” under the Lanham Act.
…
If buying an ad triggered by a trademarked keyword is eventually found to be a trademark use in commerce, that would essentially prevent advertisers from doing so legally. Goldman has written quite extensively about online trademark law, and he agrees with the Second Circuit courts.

The Lanham Act defines “use in commerce” as using a trademark on physical packaging or displays, or “in the sale and advertising of services,” an ambiguous definition when it comes to the Internet and search engine marketing, says Goldman. He expects the matter to remain unresolved until Congress passes a new law or the Supreme Court makes a ruling.

Google’s current trademark policy allows advertisers in the U.S. and Canada to trigger an ad from another party’s trademarked keyword, but not to use the trademarked term in the ad text. In all other countries, advertisers are not allowed to do either.

If a Realtor advertises with Google for “Charlottesville Realtor,” or “Phoenix Realtor” would they be met with a Cease and Desist from NAR? While “Realtor” is trademarked, wouldn’t Realtors benefit more by having the word officially enter the vernacular akin to Doctor, Lawyer, Mechanic?

February 3, 2008

Fair assessment of risk or Redlining?

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Realtor, Real Estate Ethicist

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Last week on my blog I noted what would happen if my local real estate market were to become a “declining market.”

This week brings a perspective from the Washington Post and the Consumerist that “declining markets” equate “redlining.”

Redlining:

Redlining refers to the illegal practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, national origin, etc., of the residents of the neighborhood in which the property is located.  Redlining violates both the FH Act and the ECOA.

Does the determination that a particular neighborhood or area has declining values really equate racial redlining, or are the lenders using good judgement (something they seemed to have been lacking over the past few years)?

Race is a tricky and always delicate topic, but I just don’t see the parallel between declining values and race.

One of the folks at FortiusOne sent me a link to this map showing the counties listed by Countrywide as declining.

Declining-Markets-From-Geocommons

January 30, 2008

I hear rumors all the time

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Realtor, Real Estate Ethicist

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But I rarely blog about them.

This builder’s going out of business. This one’s filing bankruptcy. This one has plenty of cash on hand. This broker’s dipping into their equity line. This lender’s leaving the business. This agent has a second job.

It’s a real estate blogger’s responsibility – ethically (at least per NAR and common sense), and one assumes legally, to present the best, most accurate information possible. I do this for two reasons –

1) I want readers, potential clients, the general public and my peers to respect my opinion and my credibility.
2) I don’t want to get sued.
3) I really, really don’t want to get sued.

Builders and companies frequently sometimes do file bankruptcy, having sheltered and protected their assets appropriately, and then re-open under a different name. It’s a fact of doing business.

I trade on my credibility – with my clients and potential clients, my fellow Realtors, builders, developers, the public and the media. Damaging that credibility – even by an infinitesimal amount – is not an option.

When on a panel at Inman Connect about blogging, someone asked how I handle writing about local builders and developments, whether I criticize them (in comparison to Jonathan Butler’s excellent Brooklyn blog, which is all about neighborhood and property reviews – and much, much more).

The dilemma is this – step into the world of investigative blogging that might impede one’s ability to do business locally, or write a great piece that might make news and generate conversation – yet alienate those with whom one does business?

I choose to maintain the delicate balance that exists between being a Realtor – a buyer’s agent advocating for my clients’ best interests, a listing agent representing sellers – and the blogger/journalist whose foray into biting investigative journalism/expose could terminate my real estate career. Getting sued could turn out to be the least of my worries if I were to become persona non grata to the community in which I have strived to excel.

Sellsius have the legal primer, summed up with this (all bloggers should read this post):

Bloggers should be careful to couch all writing as Read more

January 28, 2008

Which Candidate “gets” Subprime?

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Realtor, Real Estate Ethicist

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Bailout. Stimulus programs. Health care. Subprime. There are lots of problems, or as one of my mentors would say, lots of “opportunities.”

Which Presidential candidate “gets” the subprime fix in which we find ourselves? Great minds must think alike, as Jay wrote about the subprime issue yesterday.

We need a leader who will have the integrity and boldness to do nothing – let the markets sort themselves out. Artificially delaying the inevitable? Great idea.

60 Minutes did quite the story this evening on the subprime problem, summed up with this quote:

“An invitation to fraud … they are being paid not by the veracity of the information but by the consummation of the deal.” … “It would never end; except that it did.”

The economy, not just the American economy, but the economy – the worlds’ economy, is broken.

Excluding all other issues – military, social, international – and focusing on economics and the subprime problem specifically, which of the candidates in the never-ending saga known as the race for the Presidency?

Might it be this one?

“If you believe in free enterprise and capitalism,” (he) said, “you should have the market forces determining interest rates.”

It’s the distortion of interest rates by manipulating the money supply that causes bubbles, like the one in housing, to form, he said, and rarely does the Fed take responsibility when these bubbles burst. “They’re not held accountable,” even after the “total chaos” of the past year.

What do you think? Which one do you trust the most; which one do you mistrust the least?

Where do we go from here?

December 21, 2007

Preliminary NAR Gateway Report released

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Realtor, Real Estate Ethicist

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Finally. Let the sun shine in.

It’s been talked about for some time, on and off-line.

– One place for Realtors and real estate professionals to search.
– All property information – and standardized data (RETS compliant)
– Offers of compensation may be offered, but will not be required.
– For Realtors, by Realtors (and therein the consumers).

The potential ramifications if this were to get implemented are far and wide.

In all honesty, I have been privileged to have been on this committee, and treasure the conversations I have had and knowledge and relationships I have gained.

Summarizing what we have done down into a three-page report is nearly impossible. There will certainly be questions; ask away.

Without further adieu – here’s the preliminary report (and in PDF format here)

Preliminary Report of the Gateway Presidential Advisory Group December 3, 2007

Vision of the Gateway: The Gateway is the preeminent source of real property information.

Defining principles and characteristics:

The Gateway provides access to a national database of real property information The Gateway gives real estate professionals the best access to real property information needed to serve their clients and customers. The scope of information is unprecedented. The Gateway is based on the collaborative efforts of REALTORS® and real estate industry partners, including MLSs. The Gateway drives development and implementation of data standards and definitions The Gateway’s collective purchasing power
benefits real estate professionals and MLSs. The Gateway expands the scope and content of information available to real estate professionals through MLSs. The Gateway is organic so it can evolve as industry needs change,

Services provided to real estate industry professionals

1.Current and historical data about all real property is immediately and easily available directly from the Gateway or through participants’ service provider of choice.

Properties available for purchase, lease or exchange will be “flagged” according to status (with the owner’s or principal’s consent). Properties listed with brokers are distinguished from unlisted properties on the market (“FSBOs”). The Gateway’s database will include information about all real property in the U.S. Ultimately the Gateway will provide information about real property worldwide. The Gateway facilitates multi-lingual access to real property information.

2.Information available to participants and subscribers is: comprehensive timely Read more

December 13, 2007

Raking and blowing

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Realtor, Real Estate Ethicist

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I was raking leaves at my mother’s house last weekend, lamenting the dichotomy of the beauty of oak trees and work to clean up what they produce. As I am wont to do, I thought of how that exercise could be tied to real estate – a difficult task when also trying to corral a little one intent on diffusing my collections.

My aha! moment was this – It is crucial to be able to discern which tool is appropriate for the task at hand. I tried the blower – it was fun and good for gathering the strays, but I needed to move piles and piles of leaves. This year, Twitter, Facebook, LinkedIn, Pownce, Seesmic, et cetara have all gained popularity and have all served to add value to the interwebs as well as further fragment audiences.

It’s important to be proficient at many tasks – core tasks above all. Recognizing which tool is best for which task is crucial. Figuring out which one of the above (and of the myriad others unmentioned and those yet-to-be-created) is becoming more and more challenging.

What do you think will be next year’s rake or blower? I chose the wide, sturdy rake.

Of course, maybe I just needed a bigger blower, or a team with bigger blowers.

November 26, 2007

The RE blog arms race

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Realtor, Real Estate Ethicist

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The (un)intentional arms race continues.

RCG, BHB, AG.

Seemingly every week brings another contributor, but to what end?

The writing has inarguably elevated the conversation. Two years ago the “divorced commission” concept was one that made sense, but had not congealed on a national level. Now, to a much greater degree, it has. I believe that there may be an end to Dual Agency in my lifetime, thanks in large part to the conversations held locally and nationally – again, due to these national blogs. The disagreements and debates are of a higher level than found almost anywhere else. The intensity with which writers and commenters argue is frequently fierce and typically civilized.

There is authenticity found here that isn’t found elsewhere. We’re not doing it for the advertising revenue. We’re not doing it for the salaries or the bonuses. We’re not doing it for all the “leads” that come our way. We’re doing it because we believe in what we do and seem to share a collective passion.

As Greg said earlier this year –

My immediate goal for BloodhoundBlog is to make it the best-read, most-rewarding real estate weblog in the RE.net. Further out, I want for our contributors to be so well known that they can pursue other opportunities: Public speaking, freelance writing, books, seminars, television shows, etc. I don’t know that we will attain this, necessarily, but the goal itself is definitely attainable: Witness Glenn Reynolds, the Instapundit.

For now, I’m interested in growing our talents to see where they can take us. I think we benefit each other more together than we would apart …

At least six Bloodhounds are speaking at Inman Connect in January; if that’s not a form of acceptance, I don’t know what is. Look at the list of speakers – Presidents, CEOs, Directors … bloggers! The numbers of bloggers is phenomenal. Gaining acceptance and influence is a journey, and each day, week, month brings another convert – and another reader/listener/follower. In response to a recent email – the people in Chicago are reaching out; the RE.net is too large and influential to be ignored. Influential and powerful groups all Read more

November 12, 2007

Working from within the NAR

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Realtor, Real Estate Ethicist

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There are two premises to this post:

1. We accept that the National Association of Realtors is going to exist for the foreseeable future.
2. They have an existing infrastructure, including its 1.4 million members, that could potentially be leveraged to do great things.

First, we need much more than a “massive media campaign,” as stated by Dale Stinton, CEO of NAR. Not once does he mention improving the product (the Realtors) – all the technology in the world will not improve the competence of the professional.

Greg and I disagree on this – rather than supplant the various associations, I argue that working from within, in tandem with efforts from outside (read: the RE.net), may prove to be an even more effective strategy. Many in the RE.net recognize the opportunity to effect change; there may be great value in working, not necessarily with, but on parallel paths with, some components of the NAR. I mentioned in the inaugural Bloodhound.TV effort that the NAR clearly does recognize the impact and influence that the RE.net has on the industry – by choosing to assist in the BloggerCon, the NAR is reaching out to the bloggers. From my experience, the leadership of the NAR and the local and state associations, wants to be led, but often don’t know where to begin.

To lead, sometimes you just need to ask – or be asked.

With some prodding by some people whom I respect greatly, I am going to put my money/time where my mouth is and try to gain a seat on the Professional Standards committee (requires login) within the NAR, which may be tasked with evaluating blogging. This is the committee’s charge:

To advise and make recommendations to the Board of Directors on matters relating to the Code of Ethics; upon request, the Committee advises member boards on interpretations on the Code; upon receiving notice of lack of enforcement thereof by member boards, the Committee inquires into the situation, seeks remedial action and, if necessary, brings to the attention of the Board of Directors or the proper official of the Association in case of failure or refusal to enforce the Read more

November 5, 2007

Green building will soon be invisible

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Realtor, Real Estate Ethicist

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Three years ago, buyers rarely asked questions about utilities. When I recommended that they to bump the SEER rating on the HVAC, the response may have been, “Why? We’re moving in two years.” This year brings a different story – most want to know the monthly utility bills, some ask whether rain barrels (referred to as a “god-send” by my neighbor, in the context of Virginia’s current drought) are allowed by the HOA, others want to know if they can put up a clothes line (some can, others can’t).

The Wired blog notes that $100 oil will push innovation towards new technologies. The impact on the residential real estate market will be substantial. I suspect that a relatively small segment of the population “goes green” because of altruism. No longer is green confined to the fringe, regarded as being vastly more expensive than “normal” goods and services. Going green frequently means saving green – something everybody can support.

The Emerging Trends in Real Estate® report released recently shows, among other trends, an increasing awareness of the mainstreaming of “green”.

Real estate developers and investors haven’t gravitated toward greater environmental consciousness (“going green”) just to save the planet, although reducing carbon footprints and harmful emissions sounds fine. “This is not about Al Gore and global warming,” insists one interviewee. “It’s good for business and it’s good for marketing.”

The signs are obvious – Energy Prices surged in 2006. Energy Efficient Mortgages are gaining momentum and awareness. There are movements within various MLS’s to add green criteria, such as Earthcraft, LEED certified, Energy Star …  There’s even a green listing site. You don’t think that NBC would be “going green” for the next seven days unless there was profit involved, do you? CNBC not-so-subtly notes “Green is the Color of Money.”

The next few years will bring revolutions in design – driven by consumer demand (and a push here and there from governments) – towards smaller, smarter homes, more efficient transportation, and in a return to yester-year, more self-sufficient developments with corner stores, schools within walking distance and a refreshing integration of residential and business. More and more Read more

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Welcome to BloodhoundBlog, the national real estate industry marketing and technology weblog written by, for and about real estate professionals. Better yet, welcome to the wired world of real estate. We are busily inventing Real Estate 2.0 – technology, marketing, service and salesmanship. Like all Bloodhounds, we are smart, frisky and fiercely independent. We've built a spot on the earth – beloved over all – where each one of us can be who we are, no matter who that might be. We are committed to an idea of excellence that will flush the bums, the con-men and the crybabies out of the real estate industry. If you yearn to have your failures excused, your moral lapses absolved or your boo-boos kissed, seek elsewhere. But if you are sick to death of mediocrity – welcome home. Read all about us, subscribe to our feed and steel yourself for the hunt. We work hard, we play hard, we learn everything we can – and we bow to no one.

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