There’s always something to howl about.

Author: Mike Farmer (page 2 of 3)

Real Estate Broker

The Future of Marketing: Intent and Content

John Battelle wrote a book a while back called The Search which is basically about Google. In this book he discusses, among many other topics, the mountain of information being gathered by search engine companies and gives a few scenarios of how this might affect adverising and marketing. One particular scenario is something I think is not too far away from being a reality.

He uses a couple gathering information about the expected birth of their first child, how the husband is badgered into taking a part and learning about child-birth, parenting and such, so he begins searching — searching for articles, searching Amazon for books, etc. Battelle’s point is the merging of intent-based and content-based advertising. The husband then gets with his wife to use the TV search capabilities to find the programs related to child-care and parenting.

He goes on with the scenario describing the behind-the scenes computer gyrations that trigger connected sites to form the “intent” and begin the auctioning for advertising — all this taking seconds, from TiVo to Amazon to BabyWorld.com to whatever other connection he’s made.

When they start the child-care programing, in the corner of the screen is a message that three advertisers have information packages. The agreement with the cable program services is that he will access the ads every so often in order to get an incredibly low cost for the program services. He really doesn’t mind this because he’s found the ads very useful and pertinent to his needs.

The auctioning process behind the scenes was preset by advertisers with a maximum bid they will go, or they set to always bid the highest for top placement. The bids are in and three advertisers have won the top spots.

When the husband clicks on the ads, he not only gets a textual ad saying “We’re the greatest”, he gets links to information sites, discount offers, a whole package of useful content.

Now, plug in a home searcher and real estate and we get a glimpse of what the future might hold. I won’t even go into the predictions of barcoding technology, but imagine scanning your smartphone over a barcode on a for sale sign and uploading Read more

Sunday Morning Tribute To Bloodhound

Bloodhound is an astounding blog. Now before I’m accused of buttering up to Greg, let me explain I’m not that type. What I find astounding about Bloodhound is the consistent quality of the work here. It’s amazing a real estate blog can generate such rich material for the imagination, and one reason I think it does is that it transcends, on many occasions, the limits of basic real estate information.

That’s not to say that all types of RE blogs don’t have their place among the RE blogosphere and much valuable information is transmitted all over. Bloodhound itself transmits valuable nuts and bolts information. Along with other sites, Bloodhound transmits good technology tips and is in the loop of the latest news going on in the industry. I think, though, what raises it above other efforts is the transcending part.

I like the fast, informative style some sites have, with a few pithy words, neat pictures and links to good information, but they lack the substance that I think makes a place like Bloodhound stand out. That’s what I’m getting at – rich content, substance, mind food, sparks to fire the imagination. We often praise the informative aspect of Bloodhound, but seldom do I see the content given appropriate praise.

In order to stand out among a field of writers, substantive content is critical in my estimation. Allan Bloom, the great literature critic, feels that being “strange” is what sets great writers apart and makes them immortal. By “strange” he meant that writers like Kafka, Shakespeare, Pynchon and Cervante are different, on the edge, that their content fires the imagination. Not that I’m comparing Bloodhound to canonical writers, but relatively speaking, the concept is the same – in the arena of RE blogs, Bloodhound has the “strange” factor which sets it apart, makes it noticeable, whether you agree with Greg and the contributors and like them or not.

This powerful form of branding is what all businesses, and other efforts to be seen and heard, search for, yet few fully succeed in finding. I think it entails taking a risk, having the courage to express Read more

Arrogance vs Confidence

The company or individual that doesn’t understand competition and the power of imagination is already slipping into obscurity. Power in a competitive world is double-edged, one edge used by those on the throne, the other edge being sharpened by an idea that time adores. Who is so ignorant as to proclaim the end rests in this position? Every Google came from nowhere, or so it seems. Competition comes from the blind side, the side of arrogance.

Confidence is another story and no man or woman should see the need for constant bowing before power, nor do any in power need to cower in gratitude to avoid the unseemly posture of confidence. If one is good, then confidence is a natural reaction and state of mind, but….

But, realization of what supports power is critical to sustaining power — once a person or company thinks powers derives from an intrinsic source that transcends all other sources and is not granted by those who can take it away, it’s over. But if the realization that power exists only through the satisfaction of those who bestow power, then a person or company can ride success for a long, profitable journey.

In the service industry, power derives from consumers finding greater value in your service than in your competitors – the danger is once you rise to a successful position the temptation is to think it’s a permanent state, and then you are vulnerable to the corruption of power. Confidence tells a wise man or woman that whatever it takes, I’ve got it, but to keep it I must diligently satisfy the consumers’ ever-changing needs; Arrogance tells a foolish man or woman that they created power out of nothing and consumers are under their control.

Every day a small competitor is thinking of new ways to deliver something unique – if you aren’t thinking right along with them, and if you think you have it locked because the gods of commerce have smiled and favored you, then you might as well buckle up for a bumpy downhill ride. Confidence is a gift we give ourselves for staying in touch, honoring the achievement of excellence; arrogance is spitting Read more

Real Estate Web 2.0: Epiphany — Thanks To Kevin Kelly

Reading Kevin Kelly’s post again created a fire storm of epiphanies as I relate his generative points to RE web 2.0.

http://www.kk.org/thetechnium/archives/2008/01/better_than_fre.php
I will take his ideas and twist them a bit to meet my purposes. First, the ideas of “copy” – in a sense all RE sites are a copy of one another — plenty of listings to look at. What makes one more valuable than the other is the “generatives“. I see the free copy stage as the beginning, but just the bare beginning – bang bang bang, site site site – popping up here, there and over there. Now we are entering the generative stage and this is where it gets interesting, where winners joke and losers yell “DEAL!”.

Kelly listed eight generatives, with the first being “immediacy“. This is a little vague, but to me it’s related to constant innovation, getting ideas out to the consumer, and being the first to experiment with new ideas. One thing I liked about my website provider Point2Agent was its “immediacy” with press releases coming out on a regular basis of new ideas and functions and plans. Now it’s lagging, and whoever achieves immediacy will outshine them. There’s a lot to be said for being there, being present, being vital and creative. Zillow is doing a great job with immediacy, and lately Homegain has shown a gift for immediacy. As for my own site, I need to “be there”, be vital.

The next generative is “personalization” and this is something I’ve written about ad nauseum. To me, it’s the Big Key to success with Web 2.0. Adding value by personalizing your offer opens the great door that few go through. Kelly writes:

“It is deeply generative because it is iterative and time consuming. You can’t copy the personalization that a relationship represents. Marketers call that “stickiness” because it means both sides of the relationship are stuck (invested) in this generative asset, and will be reluctant to switch and start over.”

Nothing is truer. Once the generative process of personailzation begins, a relationship is borne between provider and user. It’s time consuming, and this is what makes it valuable. It’s one of Read more

Zillow Nation? Zeelocation?

As I wrote about just a couple of weeks ago, Zillow and other online players have an opportunity to do something incredibly different as the national/local problem begs to be resolved. With the new Zillow announcement regarding mortgage connections, the network gets closer to realization of true partnerships. I believe, and I might be wrong, that Zillow is testing the waters — mortgages are a safer micro-experiment. It’s not that Zillow is creating tough criteria and selecting the best to recommend, but they are establishing criteria.

A couple of more steps and you might have something like this:

Zillow announces today it’s new Zeelocation Program. What Zillow will be doing is inviting RE professionals from around the country to join a partnership in an attempt to strengthen its online efforts to provide consumers with cutting-edge home searching experiences, and begin solving the problems of localism, personalization and context.

What does this mean? Well, the main home search experience for consumers will be unchanged. Home shoppers and home sellers still have free access to listings and all the useful functions Zillow has to offer. However, for those home-buyers who are more seriously and immediately looking for a home and who want reliable local information, Zillow will be creating what is called The Zeelocation Program. Consumers will pay a $15.00 monthly subscription fee for access to a list of RE professionals in the area of the consumer’s interest. These professionals have been vetted by Zillow and meet strict requirements for inclusion in the program. RE brokers, Mortgage brokers, RE attorneys, inspectors, etc.  from all areas of country, after meeting the criteria for acceptance, and after paying the yearly fee that Zillow charges for acceptance, will be local partners with Zillow and will be offered to consumers who have subscribed to the program.

RE professionals will be required to follow strict guidelines dealing with consumers in the Zeelocation program – for instance, all forms of spamming are a violation of the program’s guideline and can cause the RE pro to be dropped from the program. Consumers who subscribe to the program will be given a list of local RE pros along with contact information Read more

The Art of Knowing Thyself

I’ve just finished a morning of settng up showings and dealing with the small fires of an upcoming closing. I’ve had a hectic last two weeks and it’s making my head swirl trying to balance online and offline. I think it’s important to maintain the discipline of online efforts but I realize why some people give it up after a few weeks of dwindling excitement.

I’ve been going at the online deal gradually now for five years. I’m still not a top notch nerd, but I get the basics and know how to fnd what I need and hire out what I refuse to do. I’m not good at design and that’s the next hurdle I have to hop over. I’m ok with simple and ugly if it’s functional, but I realize the need for style and form to go along with function.

This is not at all what I wanted to write about; I just swerved a bit and I’ll try to work it in — I’m in free-association mode here lately. Recently, I wrote on Bigger Pockets about “information” and ended with the transformation to “knowledge sharing”.

I’m grateful to all the online players who have gained knowledge and who share their knowledge freely, it’s truly a new world of learning processes that we’re entering. Those who are eager to learn have resources galore at their fingertips. The problem is time management and discipline. Time management and discipline have never been so important. It’s a huge challenge to find time to develop all the plans of business and still find time for entertainment, family and socializing.

So much is being thrown at us that filters are necessary to sift the wheat from the chaff. I never knew there were so many blogs and social media avenues (I just got a “personal” invitation from one this morning I’d never heard of – Apsense.)

Trying to keep up with two business blogs and whatever Bonzai is (a playpen), running a brick and mortar busines, plus dealing with clients and closings, maintaining friendships, spending time with my wife, checking in with my grown kids, spending time on hobbies, on and on, gets overwhelming at times, but you just Read more

Warning: Satire Ahead — Real Estate Therapy, The New Marketing Strategy

I read this HUH! this morning and immediately smirked. I suppose I’m jaded having worked in a psych-related field where I saw for years every burp and fart psychologized by some frisky Ph.D. or another. I told a co-worker once that the co-dependency crowd had effectively covered every conceivable form of behavior as a symptom of co-dependency, therefore destroying the meaning of their concern.

But then I began thinking that maybe we need to bring psychology into real estate, especially after the trauma from the last few years.

Real estate therapist (RET): Why are you afraid to lower the price of your home?

Seller: I’m not afraid, it’s just that…it’s…uh…it’s

RET: It will make you feel less than?

Seller: Maybe, I mean it’s a smaller price, and I just think…well…you know my neighbor has a large price…and I…uh

RET: You might be experiencing price envy.

Because now we’ll soon be seeing sellers entering treatment with PTSD, and perhaps we can help them before they hit bottom. We need to get to the source of their emotional turmoil. When your seller starts avoiding his emotional pain by asking about open houses and marketing strategy, stare deep into his eyes and ask:

But how do you feeeeel about your house not selling?

Allow the seller to express his/her feelings while you remain silent looking as thoughtful as possible. Say “ummm, I see” every so often.

Ask the seller if his mother nurtured him when he was young — let him know you are there for him and it’s okay to cry. 

Let’s say you’re working with a buyer, a young lady who keeps making lowball offers beause she’s heard it’s a buyer’s market, but she’s being unrealistic and seems to relish attempting to make the seller suffer. Delve into her relationship with her father. Her father may have been an overbearing, emotionally-detached authoritarian, and the buyer may be trying to get attention and revenge by projecting her deep-seated resentments and pain onto the seller.

Allow her a safe place to vent her resentments, maybe a park, after you gently bring this transference to light.

Yes, real estate psychology, it’s time to start the healing process. When sellers and buyers over-react, let them know you understand that real estate transactions Read more

The Perfect Real Estate Relationship

At least for me and how I envision my future. A lady from Arlington, Va called me last week. She didn’t say “Can I go look at some houses next week when I’m in Savannah?” — No, she had read my business blog and understood I recommend we do first things first. She asked to meet me in the lobby of the hotel where she’s staying so we can discuss a game plan.

She has a home to sell (attention all Arlington Va agents!), and when she sells it, she wants to move to Savannah. We sat in the lobby and over coffee and bagels discussed her vision of what she wants. She described what she’s dreaming of and I described areas in vivid detail and we went back and forth until we narrowed it down to a couple of areas.

It turns out our esthetic tastes are quite similar, so it made the conversation flow easily. She asked what the negatives are moving to Savannah and I told her without violating any laws. She decribed her life to me, how she had worked in several different fields, how she’d been a nurturing mother (still is, I’m sure) and a wife, and how now it’s just her — retired but still wanting to be active, how part of her dream is to become active in the historic preservation efforts in Savannah, that she would like a little cottage, airy and light, preferably near water, but close to town — she described how she loves diversity, doesn’t want to sound like a northerner, but doesn’t want to live in a place with a single, limited mindset — how she likes cosmopolitan eclectism. I understood her.

This is the personalization and context that I’m not sure machines will ever understand, it’s the human contact of real estate that I love, and it’s the service I want to provide — to take this lady’s story and to be an active part of it as it goes into another chapter, to help her accomplish a goal to personalize her lifestyle plans in a home she can feel a part of, that reflects her personality and sense of life.

First Read more

A Season To Be Objective

Modernism, or post-modernism, has little use for philosophy . Pragmatism is most people’s mind bent. Tough-minded pragmatism has a lot going for it, but when it denigrates philosophy it might be acting a little too tough. Isn’t philosopy that old-timey pursuit back when intellectuals talked endlessly and abstrusely about whether we really exist or just a bundle of impressions. What good did any of that talk do? It doesn’t pay the rent, by God, and it doesn’t bring the bacon (tofu?) home.

Others are more mystical about life, therefore philosophy is an illusory construct created by dead white European males to rule by reason and logic, or to confuse the issues with consistency — there is nothing consistently true for mystics, and all the intellectualizing in the world won’t reveal the mystical flow of The Great Unknown to the puny mind of reason — it’s intuitive, soft and open in spirit — felt by those connected to the universal spirit.

One looks at “what works” as the only marker for value, and the other goes by “what feels right”, what can be intuited as the marker of value. There are many variations of these two types of believers. And there are many who are mostly social, who don’t think much at all about the larger issues of life; they want to belong and be accepted, and merely being a part of a group is fine with them. They might take a stand if it’s to protect a friend or if they feel like their group is being threatened, but mostly they just want social comfort.

The second definition of philosophy from The Free Dictionary is — 2. Investigation of the nature, causes, or principles of reality, knowledge, or values, based on logical reasoning rather than empirical methods.

The first definition is — 1. Love and pursuit of wisdom by intellectual means and moral self-discipline.

Very few people live by, or hold ideas to the test of, a set of principles that they’ve forged through a consistent philosophy. They usually go by antecdotal evidence, snapshots of reality taken out of context, as their measure to make decisions. “I have a cousin who did this and got this result, and it seems to be Read more

This is not for the contest — just tipping my hat

The most powerful marketing Idea I’ve heard lately is to create a separate blog for listings. I’m in the process of giving area information, one area at a time on my home buyer’s website/blog with plenty of links to pertinent information.

But the idea of creating a blog for each listing is something that didn’t dawn on me. To tell the story of the listing. The 455 50th Street Blog! My provider allows categories, so I can create as many blogs as I want to create and delete them when it sells.

The possibilities are many – you could even have the owners write a guest post, you could fully explain the area surrounding the listing, you can place powerful photos highlighting the strong points; you can have one post that gives demographics, one post that gives comparables, and if it’s an older home like many in Savannah, one post that gives the history. You can highlight in one post all the improvements, in one post talk about its energy efficiency, on and on.

It’s a lot of work but it would be powerful and sellers would love it. Talk about rich content and Google love! It would distinguish the home and it would place it in a great position to compete in a tough market.

I have two new listings coming up and I’m going to try this. There may be objections I haven’t thought of, but I believe it would be worth the effort.

The Network — No Easy Duality

To clarify my little vision yesterday it will be helpful to explain what I see happening. I see demands for online RE companies such as Zillow and Trulia to do two things: one a demand from investors to make a profit and another demand from consumers for better, more comprehensive information. When I speak of monetization it’s because it’s a reality for them. I think RE companies will be forced to create alliances with local brokers so that good, contextual information is available for consumers to go along with pictures of homes and out of context estimates and partial information.

I’m not really overly concerned about this, it’s just interesting to think about how they will survive and change. I understand the “free” experience of searching for homes without being badgered or spammed by RE agents and vendors of all sorts.

But if they don’t make money, they won’t survive. I hear Homegain is making money and it will be interesting to see how their model evolves.

However, the Network I’m talking about is more in line with with what Greg writes about here.

The Network will not be web 1.5, it’ll be more like web 2.5 and it won’t be designed to feel good about doing good, it’ll be  about being excellent and benefitting consumers. The Network will be about individuals connected to other individuals with no power or control over one another, just a recognition of excellence. I say the Network will be 2.5 because personalization and context won’t be mastered for some time.

So it’s not an easy duality of those who are greedy looking to make a buck and those who are enlightened and open and good, it will be a complex variation of efforts that I think will coalesce along several different lines. The RE companies will compete for consumers, and many will compete mainly for traffic in order to advertise. They will have to offer value and someone will need to be charged. If they don’t offer value, there will be no one to charge. I suppose the value of the Listing Sites will be to show listings in more creative, informational ways. This can be done locally much better, once consumers fully Read more

The Network — Excellent Real Estate Agents Wanted

Dead or alive. Just kidding.

How many excellent agents are there in your area? Well, first let’s define “excellent” so that it meets my purposes. There are successful agents who were born in the right family and have “excellent” connections. There are sucessful agents who are excellent in the old way of doing things and they will die successful doing the same things — I’ll exclude them from “excellent” because I am developing my definition of excellent as I look forward. There are agents who are successful because they tapped into a big local builder and will be successful as long the builder is building — maybe beyond if they can transfer what they have going on. But how many agents are excellent at providing service, wired to web 2.0, good salespeople (great at marketing listings), proficient at information management, have excellent verbal skills, have comprehensive knowledge of real estate, have comprehensive knowledge of the area, have great people skills, have the energy to incubate prospects and follow up, have the willingness to work with and represent buyers and have the experience to be called an expert? How many are excellent in these ways?

I don’t know, but I can’t think of many. (Of course, I fit all these requirements for excellence, but modesty prevents me from broadcasting it).

The consensus when talking to the public about agents is that so many are inexperienced, don’t follow up, are pushy salespeople, etc. — but then they go on to say that there ARE good agents and they are useful, helpful, worth their weight in gold, on and on with different levels of kudos or positive evaluation. Except for the diehard agent-haters, I think most people would say a good agent adds value to the process. (While here I’m talking about agents, in regards to the real estate process, please keep in mind all types of professionals providing RE services such as lawyers, inspectors, lenders and mortgage brokers.) 

This morning in my mind’s eye a vision formed out of disparate bits of thoughts that had been floating around in my brain for about a year. A group of brave souls Read more

Working With Virgins

I like working with experienced buyers, somewhere in their fifties, savvy, know what they want, know they can get it. I like working with investors because investors don’t cry, they’re rational, straightforward, wham bam, that’s it, buy it.

I like working with experienced home buyers and investors, but I love working with first time buyers. There’s something about the mixture of fear and excitement that’s exhilarating J. The dream in their eyes rekindles mine. It’s a special joy of achieving something big, something life changing.

There are many cynics who would read this and snipe about subprime and foreclosures, anything to tarnish what the jaded and hip-ironists see as illusion. May I never become jaded.

Of course there’s a huge difference in the check at closing between a waterfront home on the island and a starter home, but the satisfaction is greater with the starter home, and whatever high-end niche I may lean towards, I don’t think I’ll ever quit working with first time buyers.

There’s a sense of satisfaction in doing a good job and most times work is work and the satisfaction comes from doing it well; however, there’s a spiritual aspect to work that makes it more than a job. “Spiritual” is a loaded word and sounds pretentious in the context of real estate.

To me, spiritual, in the context of work, means that part of experience that transcends the banal actions of accomplishing a job, or the routine, logical actions of work – it’s the combination of physical action, mental  application, emotional connection and something greater that includes the participation of others. The “something greater” is the spiritual part.

When buying a home becomes more than buying a home, as it is with many first time buyers, it creates in me a sense of participating in “something greater”. The buyers are planning their life, thinking about the future, the creation of “home”, the pride of ownership, and the excitement is contagious.

They are also open to new knowledge, asking questions, absorbing the experience, connected to the experience, alive with the idea of having something that’s their own and full of creative ideas of how Read more

The Religion (Tyranny) of Niceness

The forms of tyranny we’re most familiar with are the examples of power and ruthlessness over the more genteel and non-violent. Countries without wide acceptance of rule of law and binding constitutions usually fall under the control of the most vicious and powerful gang.

But here in US, we’re more civilized, we fall under the control of niceness, PC and the egalitarian urge toward mediocrity. Many can hardly wait for those who rise to fall, those who succeed to fail, those who achieve to lose and those who speak a raw truth to be silenced. Pleasantville is home town and the middle is a feel-good state of mind.

However, even in Pleasantville the human trait for dominance exists and niceness is a large, sharp sword in the hands of those who would control through kindness. Those who fail the test of kindness are enemies of the state (of mind). Those who are most kind are the leaders – their subjects strive to be more kind and they hate the unkind. Who are the unkind? Well, that’s usually decided by the leaders of the kind and depends on alliances.

The irony is that the kind can be unkind if it’s for the greater good of the kind, because niceness is subjective and must be determined by the wisdom of the leaders of the kind. Usually the unkind are those who think and act differently than the kind. If the kind believe that group support of self-esteem is more important than honesty, then those who say anything detrimental to the self-esteem of a member of the kind is unkind and therefore not nice, an enemy to be destroyed, even if they are destroyed by unkindness. It’s for the greater good of the kind.

Who doesn’t want to be kind? The number of kind is many because kindness is a virtue and niceness is the religion of the kind. Sometimes the unkind have done nothing but speak their minds, yet in speaking they’ve crossed the line of acceptable honesty and violated the code of kindness and therefore a legitimate target for unkindness for the sake of survival of Read more

For Greg – My Take On Politics and Real Estate

The fascination I have for politics is perverse, akin to the irresistible urge some have to watch Jerry Springer or to view the gory details of a hatchet murder. I’m serious about politics but cynicism has kinked my perception of candidates clawing and spinning their way to the top. We all are at fault for making the presidential race a spectator sport, and we are all at fault for allowing our government to become a feeding trough for special interests.

Republicans or Democrats, it seems to make little difference nowadays which pork-maker you choose, except in how it affects our special interests. Gone, it also seems, are the days people chose a president to lead our nation and protect our constitution, to secure our borders, to ensure adequate policing for the safety of citizens and to ensure rational judgment in courts of law. Now we choose according to special interests and how any certain gang in office will legislate to empower our special interest. We’ve become a balkanized nation and government has become the big daddy provider lording over the factions, pulling strings to create a power base. The candidate who can manipulate the most factions wins.

 I have to believe that the loud voices of extremism that have taken over politics  (because fanatics are more active than moderate, more sensible folk) have drowned out voices that are tired of speaking. That’s my take.

However, I think the game still has to be played, because the results of apathy are too serious to ignore. I’m a free-marketer, someone who believes in a limited government bound by the Constitution. I think a government unharnessed has the natural tendency to grab more and more power until it controls everything – that’s the nature of the beast and history has shown this over and over.

What does this have to do with real estate? Well, forget about current campaign issues for a minute and consider the bigger picture of a growing nation that’s evolving in the private sector from centralization to de-centralization – there is a movement from large metropolitan areas, a spreading out that technology has Read more