BloodhoundBlog

There’s always something to howl about.

Category: Real Estate (page 40 of 266)

January 23, 2012

Real Estate Brokerage models, Jeff Brown’s Dad, and Dead cats.

by

The Real Estate Group, Virginia Beach and Chesapeake VA

Author website

If you have never read what Jeff Brown writes, STOP. Go read it. Seriously. Go to the right sidebar, scroll down to the Bawld Guy and click the archive link. Ok. 😉

Jeff’s recent post brought up some good conversations that I want to shed some light on from my perspective. I consult with REALTORS on bulding their online presence as well as strategies for building their brokerages and teams. So his post was of significance to me.

The change that I am seeing in models right now (with some folks going right back to the model Jeff’s dad has practiced – an older school, more hardnosed approach that is much more leader (whether team leader or broker) centric and follower (dudes that manage leads either for listings or buyers and agents that are TRAINED to specifically convert those leads.)

“He who controls the leads makes the rules.” – me -several years ago. Still true.

Jeff’s 100% right about the value of whoever creates the streams of leads coming into the team (or brokerage or whatever). I think that was one of the most powerful points of Jeff’s post. If you can generate leads, build a brand (or utilize someone else’s until you can), then there are PLENTY of brokers willing to kiss your fanny just to keep you are part of their organization.

And in all but a few of those cases, you do NOT want your brokers advice.

Let me give you a concrete example of this type of model in play. I got a call from a client in Boca Raton Florida the other day. I have been working with this team on their online strategies for several months. Good guys. They have grown their team from the two of them to almost 20 (cannot remember the last count). Solely done by generating online leads and feeding their buyers agents those leads and working with them.

Here’s the kicker. Their brokerage (large independent brokerage with #1) level market share actually came to them and asked them to TONE DOWN their online marketing because they were getting close to outranking the brokerage site on Read more

January 19, 2012

The Brokerage Biz Model That Rocked In 1966 Is Still Rockin’

by

Real Estate Investments Broker

Author website

Let’s begin by establishing clearly — this isn’t new info — just widely ignored. In fact, it’s more likely than not most agents readin’ this will roll their eyes for one of two reasons. One would be cuz it’s old news to them. Not that they’ve ever contemplated using it, just old news. The other is cynical disbelief when something from a couple generations ago is touted as being highly effective and profitable in today’s real estate brokerage climate. Give it a read and then make your call.

I will tell you in advance that from what I’ve seen personally, the huge majority of super high volume per agent operations are using it. They just don’t know it was snatched from the hippy dippy 60s. 🙂

And yes, there are one or two big time brokerages who’ve successfully gotten away from the model used by the industry the last 40 years.

I learned this model beginning in 1967. I’ve spoken of Dad’s brokerage countless times here, but what may not have been communicated clearly is how relatively few agents were needed to produce such off the chart sales. Let’s put the numbers on the table. How’d you like to have been one of the 25 to never more than 30 full time agents (Usually 8-12 part timers.) who divvied up more than 1,000 sides a year for five straight years? As their janitor/official printer-of-listings, I witnessed some pretty astounding things. ‘Course, back then I had no earthly clue I was seeing world class production, as I thought it was the way it was supposed to be.

Boy, did I ever learn different as a few birthdays came and went.

Our industry, beginning in the 1970s, decided it made more sense to go away from a highly profitable business model. Before operating expenses, the OldSchool model netted 40-50% of every commission dollar earned. From that income they paid all costs — the broker did. I cut my teeth on that model, and it worked like a charm.

In their infinite wisdom, they decided a superior strategy included increasing agent pay by over 100% Read more

January 13, 2012

Update from 1 year ago. Page 32 of G till now.

by

Realtor, Guerilla Technologist

Author website

For those of my friends on here, who remember. In 2010 I relocated my small real estate business to South Florida from Wisconsin. Everything was fine and dandy until I remembered that my position in Google will be starting over from page 1 to page 32. It is nearly one year ago (01-16-11) that I wrote a post on Bloodhound asking for some sympathy from fellow friends. To be frank about it, I was really struggling, with the move, life in general, a new baby, and trying to make it by selling real estate in a South Florida market. Although many agents are making bank, I have to watch every penny.

I am pleased to announce for the term “Boynton Beach Real Estate” I am now on the middle of page 2, and sometimes as high as the bottom of page 1. I want to personally thank all of you, for helping me in a time of need. Although I haven’t yet found the financial freedom I am looking for, I am least paying the bills…barely, but at least paying the bills. You know, looking back it’s the friends that I’ve made on Bloodhound that have really helped me out the most over the last two years blogging on here.

To cap off the year 2011, Russell Shaw commented on a blog I made on BHB! I thought that was so cool. What I’ve learned over the last year the most, is that, bills come and go, but memories are forever. In 2012 I’m going to put my focus on my family and 2 kids, and not my real estate business. Yes of course, I have to make a living for my family, but that’s not what it’s all about. I don’t know when the good Lord will call me home, but when he does, I want my family to be able to say, “you know, dad (me) worked hard for us, but he always put the family first no matter what kind of bills piled up”. Read more

January 11, 2012

ListHub forms syndication Real Estate Network…

by

The Real Estate Group, Virginia Beach and Chesapeake VA

Author website

Happy New Year to the dawgs. Woof.

Ok..maybe their isn’t something to like about this…I don’t know…but it is interesting to say the least. I honestly don’t have a dog in this fight. More than anything, I just want to understand it. And there is NO PLACE like BHB to put it out in the open and air it out a bit.

But let’s start with the facts and then get to the opinion and thus the fun. It was announced this morning that ListHub (a syndicator and sister company *snort* of REALTOR.com over at Move, Inc) has formed a new Real Estate Network. This is a syndication network with publishers of real estate listings that are jumping in at the founding which include RE/MAX, C21, Coldwell Banker, and other franchisors.

This frees them (if everyone participates in their network)from any illusion of NAR control. They are in the same shape (if I understand this correctly) as Zillow, Trulia, and other syndicators. Am I missing something here? They have to abide by the network rules seen here.

This also frees the independents NOT to participate in the syndication network IF they so desire. They can opt out.

I am not sure if I have that right. I would LOVE to have someone in the know comment and fill us in.

This also (if I read this correctly) makes NAR more irrelevant than ever when it comes to marketing online real estate. (You notice how many times I have asked if I am understanding this right? Enquiring minds want to know.) Once everyone is sharing data outside of NAR (as syndicators), then who needs their .02?

Again. I am not saying this is good or bad. I would love some industry comment though.

I have a box of popcorn and a ringside seat and a lot of websites to work on..I will be waiting. 😉

January 9, 2012

CNBC: “In the name of supporting home prices, the Obama administration will likely put in place a system under which investors make private profits while the taxpayers subsidize the risk.”

by

Suburban Phoenix Real Estate Broker

Author website

Is housing the next Solyndra? Looks like it. The Obama administration is getting ready to transfer billions of dollars worth of foreclosed homes to campaign donors. If you think still more Rotarian Socialism sucks, wait until the house up the block from yours goes Section 8. Looters never tire of loot, so rent money they don’t have to earn will turn out to be the perfect garnish for real property they won’t have to pay for.

We are living in Part Three of Atlas Shrugged…

November 30, 2011

Revestor.com is live now. Revestor.com searches current listings by cash flow and capitalization rate.

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

I received an email, from BHB Anaheim presenter Bill Lyons, that Revestor.com is live now and will be announced to the public tomorrow.  Bill knows that the Bloodhound way is to fly under the radar, sneak in the back door, and quietly win so I appreciate the chance to break the news.

Revestor.com is a new property search site.  It’s unique proposition is that it allows users to search by either capitalization rate or cash flow.  Revestor believes it will become a useful tool for both investors and primary residence home buyers.  Bill Lyons suggested that its unique ranking display, offers data to a home buyer, which is currently unavailable.  Incorporating the income potential of a property offers another valuation model for home buyers to consider.

I ran a search for an area with which I’m familiar; Oceanside, CA  zip code 92056.  I searched for properties listed from $150,000 to $250,000, by cash flow, and ten current listings were displayed.  The top two listings appealed to me:

3906 Marvin –  a 3BR 2BA, 1064 s.f. SFD with $902 of free cash flow, with an 80% LTV loan, listed at $169, 767

3132 Glenn –  a 4BR 2BA, 1302 s.f. SFD with $533 of free cash flow, with an 80% LTV loan, listed at 249,900

Revestor offers a “launch” blog post and I’ll insert Bill’s comments from there (italicized), as I offer my ideas  here.

Here is what I like about the site:  I like the map display of the listings and I love the fact that it ranks the listings by investment potential.  The financial data offered, on individual listings, is pretty comprehensive.  It drills down on expense data and allows the user to customize it.  The mortgage data is cool because it allows you to slide the down payment tool and see real-time figures.  The exit strategy information is unique but I’m unclear as to how they determine the potential resale value.

Bill offered:  While San Diego is just a starting point we are still very much a “work in progress“. The site is not perfect (especially for a perfectionist that is striving for simplicity). We launched Read more

November 22, 2011

Lower VA funding fees, as of November 18, 2011, attract year-end veteran buyers

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

N.B:  On the day before I published this, HR 674 passed, reverting the funding fee amounts to the “old” levels.  It was updated in VA Circular 26-11-19, published November 22, 2011.  The “new” lower funding fee schedule was in effect for three days, from Nov 18-21.  Sorry for the confusion.

Home buying became a bunch cheaper for eligible veterans.  On November 18, 2011, the VA lowered the amount it charges veteran borrowers, for the VA loan guaranty.  Rather than charge private mortgage insurance (PMI), like conventional loans do, or a combination of an upfront mortgage insurance premium (UFMIP) and a monthly insurance premium (MIP), like the FHA does, the VA relies on a one-time charge, which can be financed, called a funding fee.

The VA looks at a service member’s life cycle and tailors the funding fee to meet his/her expected abilities to finance a home.  For example, a first-time home buyer pays a funding fee of 1.4% of the loan amount, for a zero-down loan.  The VA expects that service member to have some equity for his/her second home purchase so, should the veteran choose to buy “no-money-down”, on a subsequent purchase, the VA funding fee is double, or 2.8% of the loan amount.

Veterans who put down 5% of the purchase price are only charged .75% of the loan amount.  Veterans who put down 10% of the purchase price are only charged .5% of the purchase price.  All refinance transactions, including the no-income qualification and no appraisal needed, refinance transaction, otherwise known as the VA Interest Rate Reduction Loan (IRRL), are charged .5% of the refinanced loan.

A full table, of the new VA funding fee amounts, can be found on Mortgage Rates Report.

November 18, 2011

A Peek Inside the Unchained Conference (Part 5 of 5)

by

Real Estate Renaissance Man

Author website

Each day of the past week, I featured one of the amazing speakers from the Unchained Conference 2011. It was your chance to spend a little time with some of the most creative, innovative minds in real estate online marketing… unfortunately, that’s all it could be: a few moments. For those of us in attendance, on the other hand, we had over 10 uninterrupted hours of access…

There were many great speakers, and lots of great ideas this year.  There always are.  But at every conference – Unchained or other – there is one Keynote Speaker.  One presenter that no one will miss.  The Superstar, if you will.  The expert who turns the fire hydrant on full force and dares you to step up.  At Unchained, there is no doubt who that speaker is…

Eric Blackwell is an SEO expert, and he has helped countless real estate agents generate countless new clients through their online presence.  When he gets going on what works and what doesn’t, you can almost feel the absolute truth of his words.  Why?  Could be all the sites he runs, or the totalality of hours he has spent doing SEO work, but it really comes down to this: Eric Blackwell does SEO for a living – he’s down in the trenches every day testing, trying and correcting.  He knows what it takes to build your online presence, and we know he’s a star.

November 17, 2011

Snow you can get outside with!

by

Realtor, Media Mogul

Author website

Greg posted a photo of snow, showing it as a great closing argument for Phoenix.  As usual, he’s right!  We had our first snow of the year at Lake Chelan and I just have to share it!  While Greg has a great point about the snow, take a look at these beautiful scenes.  For many, snow doesn’t mean being indoors at all.  Some of us like the snow!

The first snow means no lawn mowing for months!  People were out all over town enjoying the beauty of the day.  With the right equipment, it is hardly a hassle at all to deal with a little snow.  I have a big driveway, but a snow blower on the front of a tractor clears it quickly.

Arizona is a popular spot this time of year, even for folks from our area.  The snow does make walking more challenging.  This is not Seattle, and we have efficient plows that clear the roads, although they too are more of a challenge than dry pavement.  But, it is beautiful and we could not do our skiing, snowmobiling, snow shoeing or just playing around in all the white without it.  I just had to put up a few pictures for the other side of the story when it comes to snow!  With that, enjoy the warm Phoenix weather!

November 17, 2011

A Peek Inside the Unchained Conference (Part 4 of 5)

by

Real Estate Renaissance Man

Author website

Each day this week, I’ve featured one of the amazing speakers from the Unchained Conference 2011. This is your chance to spend a little time with some of the most creative, innovative minds in real estate online marketing… unfortunately, that’s all it will be: a few moments. For those of us in attendance, on the other hand, we had over 10 uninterrupted hours of access…

Whether “I told you so,” or not… remember this for next time: when you hear about an Unchained Conference being scheduled, get online, get out your wallet, and get yourself there. You will leave dead tired, overwhelmed, and so filled with ideas you’ll find yourself clicking your heels and saying “There’s no place like Unchained. There’s no place like Unchained…” Leading that chant will be none other than today’s speaker:

Brian Brady is called America’s #1 Mortgage Broker by Google; but he’s got a lot more to teach than finance.  He’s been generating clients AND closed transactions from online and social media venues since way before most in the industry had even heard the terms.  At Unchained 2011, Mr. Brady took us on a wild tour of email marketing, Hollywood movies and secrets to converting prospects into clients.  Want to know how The Wizard of Ahhhs does it?  Join him on the Yellow Brick Road at the next Unchained.

November 14, 2011

A Peek Inside the Unchained Conference (1 of 5)

by

Real Estate Renaissance Man

Author website

Each day this week (and earlier than this one, I promise) I’ll post a few moments from some of the speakers at the Unchained Conference 2011.  It’s your chance to spend a little time with some of the most creative, innovative minds in real estate online marketing… unfortunately, that’s all it will be: a few moments.  For those of us in attendance, on the other hand, we had over 10 uninterrupted hours of access…

I could say: “I told you so,” but instead I’ll say this: the next time there’s an Unchained Conference scheduled – and the way each one gets better than the one before, you better believe there’ll be more – make it a point to get yourself there.  You’ll leave dead tired, overwhelmed, and full of ideas you can implement immediately.

Here’s Greg, discussing how he creates hundreds of thousands of web pages to dominate the competition.

November 12, 2011

Here’s what you missed at BloodhoundBlog Unchained in Anaheim.

by

Suburban Phoenix Real Estate Broker

Author website

20111112-071555.jpg

How much attention have you devoted, over the past few years, to so-called on-line real estate marketing experts? How stupid do you feel now that those unwitting judas goats have sold out your IDX feed to Zillow?

Nobody likes to be mocked for being a dupe — the prospect of which, I freely admit, can make BloodhoundBlog a daunting place. But: Which is worse — being called a doofus or being a doofus?

BloodhoundBlog Unchained is a completely different way of learning net.wise real estate marketing. No dupes. No doofuses. No hype. No cant. No vendorsluts. We work as hard as we can for as long as we can, and we send our students home poor in sleep but rich in ideas.

Here’s what you missed yesterday at BloodhoundBlog Unchained in Anaheim:

I demoed half a dozen ways of creating web pages and web sites automatically from raw content.

Scott Schang showed us how he has used WordPress and select plug-ins to create a lead-conversion machine.

Mark Madsen and Tony Sena illustrated the web marketing ideas that have launched their property management business into orbital velocity in just a few months.

And Eric Blackwell was the show-stopper as always, taking us through all the latest twists and turns emerge from from the Googleplex — and documenting a killer strategy for attracting sellers on-line, the holy grail of Internet real estate marketing.

We had other speakers as well, and Brian Brady regaled us with email marketing strategies until almost 10 pm.

But the highlight of our day was Realtor magazine’s on-line editor, Brian Summerfield, pictured above, who bearded the Bloodhounds in their own den. Brian very graciously and calmly defended the NAR’s more controversial stands, and the dawgs acquitted themselves admirably, engaging Summerfield with insight and without rancor. More that one person compared the talk to Nixon’s visit to China, but I’m not sure who was whom. 😉

Everywhere you turn there are so-called experts peddling so-called solutions — but the problems being solved are not your problems generating leads and closing sales. Instead, almost always, you are being sold, the the problem to be solved is the speaker’s carefully-concealed poverty. But Read more

November 11, 2011

“Live Chat” Facebook Capture Trap Magic? (or waste of time?)

by

Retechulous...

Author website

Just build a quick prototype for this “247 Floortime” idea that’s been rattling around the noggin…

Here’s how it works.

  • Simple page
  • Autoplaying youtube video of an agent
  • Quick blurb about what that agent specializes in, and how he/she can help you
  • Live chat box — (You have to be logged into Facebook to use it.)
  • Traffic Driving Strategy — Facebook Ads, DEMOGRAPHICALLY TARGETED TO PEOPLE JUST LIKE THE AGENT
  • Incubation Strategy — Anyone who chats, well you just shoot over a friend request with a message and get the relationship going…

You can open the demo in a new window by clicking here.

Thinking that if we only show this ad to 25-40 year old males in the Harrisburg area, folks are going to think… “hey that guys just like me, I like him, sure… I’ll interact with him a bit… ”

Of course the trick will be to properly word/structure the ad so only folks likely thinking about real estate will click thru…

What d’yall think?

Will this flop?

Or work like gangbusters? (will update in a few days once we have some datastuffs…)

« Older posts Newer posts »

Inventing Real Estate 2.0

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.

Media Contacts