There’s always something to howl about.

Author: Mark Madsen (page 1 of 1)

Las Vegas Mortgage Blogger

Buyers Are Clueless, And Why I Care

Buyers are clueless, and I’ll prove it in a minute.

First, let me explain why this conversation matters to you as a new or seasoned real estate blogger.

Does this scenario sound familiar?

Wife:

“It’s 2am, why are you still messing around on that computer?”

Me:

“I’m blogging for dollars, baby.”

Wife:

“That’s what you said last month.”

If you have chosen blogging as your primary business building model, get use to having that conversation for a year or more.

I made the decision to move my real estate and mortgage marketing activities online full-time in late 2006, and haven’t heard the end of it since… both good and bad.

It’s taken me several years to figure out how to make all of the moving pieces work in a manner that can pay the bills. Equally as challenging, was explaining to friends and family my motivation for the path I’ve chosen.

Many passionate bloggers cringe when they hear the terms “business building” or “lead generation” associated with the selfless act of pouring your heart into a blog post that should be meant to enrich the lives of others.

Unfortunately, financially motivated “Social Media and Relationship Marketing” tones have perverted the way outsiders view our true intentions.

I realize that I’m guilty for perpetuating this common belief that the web was invented so that real estate agents can make money online. Look at any of my past presentations or webinars, and you’ll find “build your business” somewhere in the title or description.

Even though it hasn’t felt right at my core, it’s a simple theme that most non-web related industry professionals can relate to.

It’s just been easier to fall into the trap of justifying my online efforts with an ROI, especially when the non-believers are so eager to offer their unsolicited opinions about how to be successful in business.

Keyword here is Non-Believers.

My friend Rene Rodriguez has been harping on me for years to explain why I care so much about the web.

“Yeah, but why,” he Read more

10 Ways To Get UnFollowed On Twitter

I try to spend 30 minutes a week doing a little housekeeping with my various blogs and social media accounts.

Whether it’s simply tightening up profile bios, updating links or completely deleting accounts, maintaining an online presence for business purposes is mostly tedious boring work.

Well, until today….

Quick background – I’ve started to spend a little more time on my personal Twitter acct actually paying attention to people vs only sharing my favorite links of the day.

Generally, I’ll spend most of my time in Google Reader browsing about 50 or so articles a day and simply clicking “share” to have a few relevant links syndicated out through Dlvr.it to targeted Twitter or FB Business Pages.

However, now that I’m physically logging in to Twitter direct or through Hootsuite, I decided it was time to cut the list of people I follow down to a more manageable number.

While there are probably more efficient ways of reducing the noise by using an “UnFollow” Twitter application, I figured I’d spend a quick 30 min. scrolling through everyone I follow to see if there were any obvious profiles that I could delete based on name, photo or bio.

Not sure exactly what I was looking for, but I thought it would at least give me an opportunity to see some old faces as I scrolled through a few years of Twitter memories.

So, here are the top 10 reasons I deleted someone from my “follow” list on Twitter:

1. No Photo

Unless I knew who they were, it didn’t make sense to follow someone who was too lazy to upload some sort of profile photo.

2. No Bio

Really? I think that mastering the art of the one sentence bio should be the first thing people focus on before they worry about trying to “dominate the web” with all of the new secret magic bullet SEO strategies that are being taught by the Gurus.

Of course, I made a couple of exceptions.

I’m sure I’ve got some hidden bios online that suck, but I think I’ve always tried to at least mention my city, industry and intentions.

3. Quote For A Read more

Developing The Perfect Content Map For Your Real Estate Blog

Regardless of the recent debates about whether or not a real estate blog should be considered a solid foundation for a single agent to develop a realistic business model on, there are still many benefits of publishing content on a site you own… provided everything is organized properly.

I follow the CopyBlogger school of thought for designing strategic landing pages to ensure my target audience gets the exact information they’re looking for when they hit my sites for the first time.

While I do feature categories and tags in non-prominent areas of the footer or custom sidebars, I try to keep my main informational points of interest flowing from the top down in order to respect the time my readers have to spend online.

Homeowners and new buyers can easily get overwhelmed with the hundreds of details they may need to be aware of when it comes to the mortgage or real estate process.

One simple answer can easily lead them to five other questions that they didn’t know they needed to be asking.

Designed with the big picture in mind, your blog can effectively lead someone through their fact-finding mission in a painless and strategic manner.

Obviously, articulating this complex home buying thing in a manner that non-industry people can understand is great way to build trust with your potential clients.

Agents are obsessively consumed with “Personal Branding” to the point where buyers have to invest valuable seconds of their life on a site sifting through awards, testimonials, twitter feeds and media interviews before they can find a page that actually addresses their real needs and concerns.

However, I feel industry blogs have come a long way in the past five years.

But, we need to get better at focusing on homeownership education if we’re truly going to impact a positive change in our local real estate markets.

Here’s an example of my Mortgage 101 section, which has significantly increased in stickiness since I took out the sidebars and customized the page layout to serve as more of a site index with a purpose.

My ultimate goal is to be able to send borrowers and agents to my mortgage blog without Read more

I’d Rather Be Left Alone Than LinkedIn

I’ve been looking for an excuse to cancel my Linkedin acct for months now.

The extra web exposure on a platform that I don’t control is concerning to me.

But, it mainly boils down to the fact that I have new twins and no time to do anything on the web that isn’t building true perpetual equity in an online presence that I personally own.

The final nail in the coffin with LinkedIn for me came last week when I was emailed a false and disturbing message that was maliciously put together by a psycho stalker who targeted everyone who was a first-level connection of his victim online.

So, with that type of personal and professional nightmare escalating for one of my close friends, I’ve finally decided that it is safer to be Left Alone than LinkedIn, fanned, friended, followed….

Even though the Internet is the center of my Las Vegas real estate business, I’ve never been into “social networking” much.

Actually, I started taking my web activity serious in 2006 as a way to replace my previous model of building relationships with referral partners.

Don’t get me wrong, I enjoy being social and making friends, I just don’t believe I need to get people to “Like” me in order to earn their business.

I know – I’ve heard the sales gurus preach about people doing business with others they Know, Like and Trust….. blah blah.

However, I’ve already proven that a niche web strategy can remove the awkward Know and Like components of the sales conversion process if you simply focus on earning trust by writing valuable content that solves the specific needs and questions of your target audience.

And, as far as duplicating the important Social Proof concept that these social networks enhance, a few creative testimonials down the left column of my About Mark Madsen page will hopefully to do the trick.

Facebook is next on my operating table, but I’ll have to approach that site with a scalpel since I do have so many FB Business Pages integrated into my SEM campaigns.

Either way, aside from a little passive connecting and noise making on Twitter, I’m going to save my business Read more

President Obama To Las Vegas Residents: “Screw You!”

President Obama told a New Hampshire town hall meeting:

“When times are tough, you tighten your belts. You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash in Vegas when you’re trying to save for college. You prioritize. You make tough choices and it’s time your government did the same.”

Amazing, I wonder how Obama talks about Vegas when he’s not on TV?

Maybe this is why HUD Dissed Las Vegas In The Housing Stimulus Lottery, or Florida got their high speed Disney World Train and Las Vegas didn’t.

Either way, at least we know exactly what Las Vegas can expect when the President speaks about “Jobs” being his top priority in 2010.

And the Mayor’s reaction:

Speaking of blowing a bunch of money on trips….

A Veteran’s Journey Home

It was Christmas Eve December 24, 1967, and he stood in front of his parents house for the first time in 21 months since he had left to serve his country in Vietnam.

The cool San Francisco fog was a pleasant change from the sticky Mekong Delta heat that he had endured less than 28 hours earlier.

While pleasant and welcoming, the faint background sounds of traffic and sea gulls confused his heightened sense of awareness.

Trying to gain a perspective of his new surreal, yet familiar surroundings, this 23 year-old kid paused at the bottom of the long steps that led up to his front door….

Can I look my own mother in the eyes without letting her see right through to the pain and fear that is hidden just beyond this external shell of a man?

It had only been weeks, or days, or maybe even minutes since he raced to stop the bleeding and save another brother’s life.

As a Field Medic, he had been trained to maintain composure while holding a dying man’s hand, yet the Army never prepared him for when he returned to the real world.

His mind drifted back to the day his father dropped him off at the bus station when he was heading off to boot camp.

A solid man, who fought back tears as he explained to his son that he joined the fight in World War II so his children wouldn’t have to.

Will his return open up wounds that his father spent years healing? Does he even have to share his story with his Veteran dad, or will he already know the ending?

He took the first three steps…. only 8 more to go before he has to face his future.

A soft bed, secure behind locked doors was motivating him to gently move up a few more steps, only stopping for a brief moment as he cringed with the thought of his prior sleeping conditions.

Nights were either spent in a foxhole infested with fire ants, or on moonlit missions into the jungle rooting out ambushes. Either way, the thought of a full 12 hours of sleep Read more

Monday Motivation

It’s been a busy year.  So busy, that I didn’t realize there were only 85 or so days left in 2009.

Take away the holidays, office parties, traveling to real estate conferences and visiting family, and I estimate that we’ve got about 19 working days left.

Whether you believe that the economy is going up, down or heading nowhere fast, the only thing we can control over the next few minutes or months is our attitude.

One of my friends created a great video over the weekend that I wanted to share with the Bloodhound Community.

Here’s to finishing this year out strong….

video produced by:  Dustin Hughes

Is ActiveRain Selling Loan Officers An Exclusive Opportunity, Or Just Selling Their Real Estate Agents Out?

active_rain_making_money_off_the_backs_of_loan_officers_by_using_agents_as_a_carrot

I’ve received a few emails and calls from my loan officers this week about some new exclusive opportunity that Activerain.com is pitching to the mortgage industry.

Apparently, Active Rain is cold calling mortgage professionals who have an AR blogging history and offering them an “extremely rare opportunity” to pay $299 / month for the privilege of being able to re-sell upgraded AR products to real estate agents.

The following email is an example of what the new Active Rain business model appears to be:

xxxxxxxxx,

Thank you for taking the time out of your day to speak with me.  As I said, this is an extremely rare opportunity.

WISCONSIN

Currently 848 Real Estate Agents

Currently 123 Loan Officers

You will have a full training course with ActiveRain to learn the knowledge on how to dominate the first page of Google.  With this knowledge you will train agents to do the same.  You will keep in contact with these agents as their trusted advisor who has directly taught them on how to fully market themselves successfully.  There will be loyalty here.  You will have full access to every single new and old agent in the whole state of Wisconsin.  You will be highlighted all over ActiveRain for this.

$299/month is your investment.

After 15 upgrades you will receive $700.

For every rainmaker upgrade thereafter, you receive $25.

The relationships and possibilities are endless.

Please let me know as soon as possible as time is of the essence.

xxxxxxxxxxxxx
Member Services
ActiveRain.com
xxxxxxxxxxxx

I’ve obviously blanked out the names to protect the people involved in this specific conversation, but I’ve already been given permission by my loan officers to talk about this on Bloodhoundblog.

________

Let me get a few disclaimers out of the way before I dive in to this Active Rain thing.

I’m a loan officer with several blogging platforms – some are free, and some cost money to participate.

My main objective with 99% of the group blogs that I build is to help my contributors expand their reach online with a little help from a few friends who share the same goals.

I understand the importance of having a well capitalized web project so that the development crew can stay on the Read more

Too Stupid To Do Business With?

I’m not that guy who loves forwarding funny emails, but my father-in-law sent one to me that I had to share because it could totally apply to our industry.

Either way, I thought it would make for a little Friday fun.

___________

This is a true phone call from the Word Perfect Help line which was transcribed from a recording monitoring the customer care department.

Needless to say the Help Desk employee was fired.

>>>

“ABC computer assistance; may I help you?”

“Yes, well, I’m having trouble with Word Perfect.”

“What sort of trouble?”

“Well, I was just typing along, and all of a sudden the words went
away.”

“Went away?”

“They disappeared.”

“Hmm. So what does your screen look like now?”

“Nothing.”

“Nothing?”

“It’s blank, it won’t accept anything when I type.”

“Are you still in Word Perfect, or did you get out?”

“How do I tell?”

“Can you see the C: prompt on the screen?”

“What’s a sea-prompt?”

“Never mind, can you move your cursor around the screen?”

“There isn’t any cursor: I told you, it won’t accept anything I type.”

“Does your monitor have a power indicator?”

“What’s a monitor?”

“It’s the thing with the screen on it that looks like a TV. Does it
have a little light that tells you when it’s on?”

“I don’t know.”

“Well, then look on the back of the monitor and find where the power
cord goes into it. Can you see that?”

“Yes, I think so.”

“Great. Follow the cord to the plug, and tell me if it’s plugged into
the wall.”

“Yes, it is.”

“When you were behind the monitor, did you notice that there were two
cables plugged into the back of it, not just one?”

“No.”

“Well, there are. I need you to look back there again and find the
other cable.”

“Okay, here it is.”

“Follow it for me, and tell me if it’s plugged securely into the back
of your computer.”

“I can’t reach.”

“Uh huh. Well, can you see if it is?”

“No.”

“Even if you maybe put your knee on something and lean way over?”

“Oh, it’s not because I don’t have the right angle — it’s because it’s
dark.”

“Dark?”

“Yes, the office light is off, and the only light I have is coming in
from the window.”

“Well, turn on the office light then.”

“I can’t.”

“No? Why not?”

“Because there’s a power Read more

How Bloodhoundblog’s Innovators Have Inspired My Business

In response to Greg’s request for innovative ideas from BHB, I thought that would list a few real life examples of how the contributors here have impacted my personal evolution in mortgage marketing and Web 2.0 world domination.

While I believe success is merely a component of innovation, I also agree with the people who need to see proof of results in order to determine a true measure of value.

Since it is too difficult for me to pick one or two innovative or game changing ideas for Greg’s contest, I’ve embedded links to some of the BHB articles that have inspired me over the past few years.

Where did BHB begin for me?

I have been an avid reader of BHB for a couple of years.  This place use to scare me (still does), but I eventually gained the confidence in expanding my own online presence as a result of the education that I gained from reading and participating in the conversations on this blog.

As a loan officer back in the boom days, I only cared about the web because one of my Las Vegas real estate agents was feeding me with leads that he generated from his site.

I basically just helped contribute content and pay some of the expenses in our joint marketing venture.

When I did find time to pay attention to what others were saying online, I’d read about bubbleheads and doom pundits, real estate agents blogging about blogging, how the housing slowdown was only going to last for another 6 months, and how Zillow didn’t have accurate estimates.

However, when the market really did shift as Brian predicted, I was faced with the options of either becoming more involved in our online marketing agenda or walking away and getting a new job.

I kind of did a little bit of all three by developing a game plan for the industry that focused on a more sustainable purpose and different priorities.

The early innovation:

One of my first successful web projects was a FSBO campaign that combined single property web sites, highly visible yard signs, Craigslist, Call Capture, and a solid listing presentation.

My pricing Read more

How Do You Measure The True Success Of Innovation?

Greg’s recent post about Bloodhoundblog’s innovation contribution to the real estate industry created the typical debate over dinosaurs vs. Web 2.0.

However, there were several good points about the difference between innovation and success.

I’d like to argue that innovation is a component of success, as is failure.

Whether you’re skinning cats the 1.0 way, exploring the potential of a complete virtual realty solution, mixing a creative listing landing page with a direct mail campaign, or putting your referral relationships to full use, the simple fact that most of us are still left in the game to have these discussions is a small sign that we’re all successful in one manner or another.

It is hard to deny that the industry is rapidly changing, especially with regards to the way we leverage the web to communicate to our clients and colleagues.

By the time something has been proven, its already old news and can’t really be considered innovative.

What does innovation mean to me?

In order to have a productive conversation about the actual value of an innovative idea, I think it is important that we first agree on a common definition of innovation.

I hear words tossed around like Top Producer, high conversions, leads to loans….  which don’t mean much to me unless those are the results I’m expecting when I buy a product.

But to me, innovation is more of a way of life vs a business decision.  I’m always looking for ways to make something or someone better, without living in fear of failure.

I don’t need social proof from the masses to build my confidence.  Matter of fact, if everyone is already doing something well, then I’m even more motivated to find a different, more efficient way of accomplishing the same goal.

My loving and patient wife has to deal with these character traits every day.  And to make things worse on her, my 2 year old daughter is showing signs of following in her father’s patterns.  I couldn’t be more proud.

Either way, I just wasn’t designed to wait around on other people to prove that an innovative idea can be successful.  Maybe its because I focus Read more

Why Real Estate Agents Should Stop Playing Loan Officer

I wasted a few hours this week cleaning up the messes that real estate agents created for their first time home-buyers.

End result – loan officer still looks like a jerk, but now the borrowers are really confused about who to trust.

I’m going to combine about five separate scenarios and conversations that I had this week into one rant just to get my point across.

First of all, the mortgage industry is changing very rapidly.

True  mortgage professionals are paying attention to things like:  HVCC, concerns of HR1728, Mortgage Insurance companies changing their guidelines, Fannie’s new condo rules, FHA fico score requirements, Loan Level Price Adjustments, new FHA appraisal guidelines, adjusting interest rates in an unstable market, and a constant stream of mortgage Twitter chatter that only adds to the noise.

For those of us primarily working with FHA First-Time Home Buyers, we’re also keeping tabs on the $8000 Tax Credit being used as a down payment, as well as how long the Fed plans on purchasing Mortgage Backed Securities to keep rates lower.

Just as real estate agents are learning about short sales, bank owned properties, and transparency, mortgage originators have a full-time job keeping up with industry news so that we can lead our clients down the right path.

I don’t think that I need to throw another 9 links in this post to demonstrate that there are a lot of things real estate agents and loan officers need to understand before we can express with confidence to our clients that we truly have a handle on their unique scenario.

Imagine what the effect would be on a first-time home buyer if puked all of this overwhelming information on a them in the first 10 minutes of the initial phone call?

I had to do this all week just so that the agents and borrowers would understand why I wasn’t able to issue a quick pre-approval letter and GFE simply based on a 15 min phone call and credit score.

We’re in a tough market, and I totally empathize with the hard working agents who are competing for new business by giving the highest levels of service possible.

However, Read more

The End of No-Cost Mortgage Loans and Other HR 1728 Concerns

The H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act is a problem that all mortgage and real estate professionals need to pay attention to.

My first rule of blogging has always been to avoid political discussions, especially if I’m not an expert on every angle of the topic.

So, with my second post to the BHB, I’m breaking all of my rules…. I guess this means that I’m starting to get the hang of things around here.

The difference with this post is that I’m putting my self-consciousness and ego aside for a moment.  I believe that there is way too much at stake for me to wait around until I’m comfortable putting my neck on the line.  I’m taking Greg’s 70% approach and running with it

If I’m wrong or barking up the wrong tree, I humbly respect that the Hounds of this community will set me straight.  Matter of fact, I’ll do my best to encourage any type of discussion, rant, or other demonstration of disgust, as long as it helps us get closer to the truth behind HR 1728.

Here’s the deal, friends – HR 1728 has passed the House, which means it still has to go before the Senate and then pass Obamanomics before it becomes a law.

I’ve spent a significant amount of time reading, researching and writing about how mortgage originators can battleback against this new Mortgage Reform bill.

I’m either missing a beat, presenting the wrong info, or not yelling loud enough, because it doesn’t seem like there is much talk online about how this new Anti-Predatory Lending bill will impact our industry.

Obviously, HVCC is getting some reaction, probably because people are already feeling the pain in their wallets.

However, a lot of us may have to turn to online gaming and selling weed to make a living if H.R. 1728 makes it through the Senate without our voices being heard.

What are the main bullets of HR 1728 that I care about?

  • Mortgage brokers lose the ability to use their YSP (Yield Spread Premium) to offer No-Cost mortgage loans.  Banks, on the other hand, still don’t have to disclose their same (SRP).

Unchained Freedom “Friends Keep Friends In The Business”

As I was driving back to Las Vegas after a full week of hanging out with the Bloodhound crew at Unchained, my mind was racing to get a grasp on all of the new real estate marketing possibilities that I could achieve by the end of the year.

The confidence I gained through the relationships built at Unchained was all I needed to fully execute my online marketing plans.

I believe that everyone is an expert at something, and we all have a ton to learn from each other.

The Scenius sessions at Unchained were a great example of this concept:

  • After a full day of building blogs, Eric Blackwell, Ryan Hartman and I stayed up until 3 am discussing some SEO strategery for Battleback.com.
  • Greg showed me how simple it would be to syndicate my mortgage content on all of my real estate agents’ blogs with just a little bit of technical savvy.
  • Brad Coy and Brian Brady helped me figure out how to easily integrate a Twitter or Facebook presence into my weekly relationship building routines without having to spend too much time being social.
  • Al Lorenz and I talked about the benefits of owning the social media platforms that our clients and referral partners participate on.
  • Sean Purcell’s brainstorming session over a $100 casino chip got me excited about top of mind sales and branding tools.
  • Kerry Melcher’s “Small Town Phoenix Living” reminded me of how important it is to connect with the emotional needs that may impact our clients’ decisions to do business with us.
  • Scott Cowan and I compared our local markets and shared similar opinions about how much online social networking really matters in the long run.
  • Scott Schang and Mark Green opened my eyes to the power of holding online webinars for the purpose of building a loyal database.

I could go on and on about all of the great conversations that I had at Unchained.

My main objective for that week was to fill in a few technical gaps with my blogging skills.  As Greg has mentioned many times, real estate professionals have a publishing problem.

There are so many ideas that I haven’t been able to Read more