There’s always something to howl about.

Category: Technology (page 23 of 60)

It’s a great time to be a Realtor or a lender — if you’re a good one. At BloodhoundBlog Unchained in Orlando, you’ll learn how to dominate your market in the dark days ahead

What came out of last night’s Presidential debate? No matter who wins, we all lose. As painful as it might be to suffer a quick drop in housing values, followed by a recovery, we are in for a much more extended agony. Whether Obama wins in November or McCain, we’re in for an lengthy period of government “help” — mortgage work-outs or price supports or some other crafty means of disguising the true value of homes. This might be good for you if you are headed for foreclosure but haven’t yet crossed the bar, but it promises years of depressed housing prices for everyone else.

That’s bad for homeowners — but good for many landlords. And it’s bad for lenders who have perfected the art of re-financing the same clients again and again — but good for lenders who can generate the flow of new business necessary to live off of primary purchase loans. And a perpetually plateaued real estate market is very bad for by-owners sellers and lazy, stupid, cheap Realtors — but very good for Realtors who can actually get the job done.

An all of this is why you should be coming to BloodhoundBlog Unchained in Orlando. We’re about nothing but practical tactics for taking advantage of the internet to build your business — which is precisely what you need to be doing right now. Real estate has always been a hard way to make an easy living — and it’s about to get a lot harder. The Realtors and lenders who can sustain a pipeline of viable prospects will prosper in the coming years. The rest will get other jobs.

Here’s just a few of the topics we’ll be talking about:

  • Brian Brady will show you how to build a presence on the internet so that your prospective clients will not be able to go anywhere without finding you.
  • Mitch Ribak will talk to you about the techniques he and his team are using to close dozens of transactions a month.
  • Kelly Koehler will share with you her unique pay-per-click strategies, using an array of long-tail keywords to net clients at a very Read more

Following a trail of breadcrumbs from an internet-enabled cell phone

I’ve written about our breadcrumbs philosophy before. Cliff’s Notes: If we build a single property web site for a listing — or a previewing site for buyers featuring dozens of houseswe never delete worthwhile work product from our file server:

We leave the pages and sites on our file server forever. If there were anything confidential in the pages, we would excise it. But there never is — because the web is not secure. So the pages live on forever, each one a detailed chronicle of a particular house at a particular moment in time.

This Sunday just past, a potential buyer was sitting outside 14179 West Shaw Butte Drive in Surprise, AZ. From her phone, she Googled the address. Guess who she found?

I’m not the lister on that house — and it had sold before she called me. But I stand a fair chance of selling her something else, with my client-acquisition cost being pretty close to $0.00.

Leaving breadcrumbs on the trail is not a strategy, not even a tactic. It’s a side-effect. We’re building the content for other purposes. But we sometimes get extra business simply by not killing those pages. This has always been good for us, going back years, but it promises to get better and better. First, we’re always building new pages, which increases our long-tail exposure. And second, there are more and more web-enabled mobile phones out there every day.

There’s more: I think it’s important to “triangulate” on pages like this from a weblog, this so Google finds the new content in a sprightly fashion. I talked about triangulation at Unchained in Phoenix, and I’ll be addressing it again in Orlando. (And if you buttonhole Brian Brady, he might reveal to you what I’m doing in this post as a side-effect of having written it.)

Bur even though this is all just a side-effect of other efforts, we still have a complicated, scientific name for this phenomenon: We call it free money.

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Making the Riccelli bet to take away the fear of trying something new

Richard Riccelli doesn’t write here very much, but, when he does, it’s pure gold. I’ve been writing in BloodhoundBlog about Richard since the blog was young, as have others, and Richard has been writing with us for as long as we’ve been a group blog. I can’t sing his praises enough. I’m sure I can’t even see nine-tenths of his genius, but I am forevermore enthralled by what I can see.

A peculiar aspect of Richard’s brilliance is his uncanny ability to identify and excise the deal-killing objection. In his own marketing business, his fees can run dauntingly high. Don’t want to pay? No problem. If he loves the project, Richard will work for a cut of the take instead. This is unheard of in direct marketing, and the shear audacity of it can silence every other objection he might hear from his clients. How can you argue with free?

For months now I’ve been playing with Riccelli-style direct marketing ideas at ABetterListing.com. The site’s not done yet. Taking account of testing, it will never be done. But it takes on its first big market test tomorrow.

This is the back of an open house invitation card for a house we’ll be listing next Friday:

Cathleen and her crew of energetic teenagers will be distributing 2,500 of those cards this weekend, with another 2,500 going out next weekend. The whole launch is a Very Big Deal since the house we’re listing falls into the Jumbo Zone — where desire is unlimited and loans are unavailable.

But ABetterListing.com was built for this kind of door-to-door direct marketing promotion, and the promotion itself is built around a Riccelli bet: We’re betting that we’re better than anyone else you’ll talk to, and we’ll pay off on the bet if you don’t agree.

An even better Riccelli bet would be this: “If we don’t get you a contract within 30 days, we’ll sell it for free!” Unfortunately, in the neighborhood we’re working in, homes are selling in 267 days — on average — when they sell at all. We’ll save that offer for a better market.

I’ll talk more about ABetterListing.com another Read more

Zillow.com creates a directory of real estate agents who can’t sell

Okay here’s the good news: You have another opportunity to garner a do-follow link from Zillow.com.

And here’s the bad news: For that link to do you any good, your best bet is to be a really bad listing agent. The more listings you can accumulate on Zillow.com — which implies listings that don’t sell — the higher your ranking among your peers.

Yikes!

Or: Too frolicking stoopid…

Zillow’s Professional Directory is new as of this night, so — who knows? — maybe it will get better. In the neighborhoods we understand, it’s an exceptionally valuable glimpse into the world of lister dysfunction: Who can’t sell how much real estate how slowly? If you want to know for sure who cannot sell the greatest quantity of real properties over the longest spans of time, Zillow.com has the answer.

It gets worse: The “Top Zillow All-Stars” are, for the most part, bubbleheads. Everything is measured by contributions, where what Einstein does and a cat-box deposit are equally “contributions” — equally additions to Zillow.com’s great big cat-box of crap.

This is wicked-dumb, far dumber than the usual agent-rating schemes. Where those other “tools” can be gamed, Zillow’s system is based on measuring, first, a meaningless metric, and, second, by actually rewarding incompetence. Quantity not only is not quality, the number of listings a Realtor is carrying is very often a negative indicator — a symptom not of quality performance but of its absence.

Even acknowledging this, measuring velocity of turnover would not improve things, particularly since this is a metric that could be gamed. And even adding in true — meaning verified — list price to sales price ratios might not be enough. Readers here can correct me if they think I’m wrong, but I don’t think there is any reliable, objective way to rank Realtors by quality of performance.

And that’s as may be. It remains that graduating them by their inability to move product is inarguably a terrible way to rank real estate agents. The Professional Directory is a truly amazingly tone-deaf addition to Zillow.com.

As you might have deduced by my absence from these environs, I am very, very Read more

Listing real estate the Bloodhound way: Working like a dog to achieve specific marketing objectives

Teri Lussier:

My other question: Good ideas and bad ideas. This bites me in the butt over and over. My brain is great at generating ideas, not so great at knowing what makes an idea great. Something new or different is not always better (I need to have that tattooed on the inside of my eyelids). The million dollar question: How do you know?

The way we work is to think backward from the marketing objective: What event or outcome do we want to have happened? “Sell the house!” is a lot to tear off in one mouthful, but how about, “What can we do to get visitors to sit down and ‘try the house on’ in their minds?” That’s where the coffee table book came from.

I wrote the original version of our sign philosophy before I created our first yard sign. That sign was very different from the signs we make now, but that paragraph of small text was there from the very beginning. I knew that if a yard sign was actually going to work to sell the house, I had to get people to stop their cars, and that paragraph of text has been doing that one little job ever since.

This is all Richard Riccelli again, thinking in terms of direct response marketing. The big yes to the house is an accumulation of smaller yeses to particular marketing tactics, so the most effective marketing efforts will consist of taking away the negatives — eliminating the deal-killers. Who can you turn to for that kind of marketing advice? Your buyers. When you show, again and again your buyers will teach you what’s not working in other listers’ houses. Learn from your buyers and eliminate the turn-offs from your own listings.

That’s important. People will read the things I write and decide that I’m talking about tricks or gimmicks or tactics. I’m not. I’m talking about a complete home-marketing strategy, and each individual element of that strategy is expected to fulfill a particular strategic objective. But our strategy starts with four obvious tactics that are omitted in at least 90% of the homes Read more

Why should Realtors come to BloodhoundBlog Unchained in Orlando? To learn the Bloodhound art of marketing listings, for one thing, as an expression of an attainable moral perfection

I like to think that, as a secondary consequence of the things I do, I goad good people into becoming better people. This is a part of everything I do, but it’s why there is a category called “Egoism in Action” in BloodhoundBlog, and it’s why so much of what I write about is focused on the idea I call “Splendor.” As much as I can, I want to help the people I come into contact with — here and in the corporeal world — to navigate the path from rational self-interest to undiluted self-adoration — an attainable moral perfection.

I like to think I help good people become better people. I know beyond all doubting that coming into contact with me induces bad people to become worse people. I absolve myself of all guilt in the matter: I would never, ever encourage anyone to pursue any sort of disvalue. But Joseph Ferrara, as an example, seems to have wasted two years of his irreplaceable life sticking metaphorical pins into a metaphorical doll of me. How sad for him, but I am undaunted, undamaged, undiminished — quite the contrary.

Poor Joseph is an extreme specimen, but he is hardly alone. Closer to home is Jonathan Dalton, who seems to devote some huge fraction of his every waking moment to trying to vanquish me in his imagination. He does this in secret, without naming me or linking to me. I wouldn’t even know it was happening, except that people keep sending me his snarky little posts. I cannot imagine what crime the poor slob has committed, that he would punish himself endlessly with thoughts of me, but never doubt that nature is just: Whatever his crime, certainly he believes that obsessing over me — striving with all his might to shout me down inside his own mind — is the fate he has earned and deserved. How sad for him.

Here’s a recent specimen of poor Jonathan’s obsession:

So when you read that a listing agent will be checking your house every other day and will hold your house open every single weekend until it [sells] Read more

Sneak peek: Screen shots from the forthcoming REST for iPhone app

Real Estate Success Tracker is a Customer Relations Manager/Transaction Manager for Realtors. It comes in Windows and Macintosh versions, plus a networked version that will work with clients on either platform.

REST CEO Matthew Hardy — a BloodhoundBlog Unchained in Phoenix matriculant — has been paying attention to the marketplace — unheard of among real estate product vendors — so REST has been quietly moving into the cloud. But Hardy has always been committed to both data security and to your ownership of your data, so REST in the cloud will be available only from your own REST client software — with the database running on your REST network server in your office.

And so the next logical step in this cloudwise progression is an iPhone client, and that is nearing completion. Shown below are three reduced screens from REST for the iPhone, which could be released in beta form as early as this afternoon:

REST is free to try. As a CRM it rocks, but it’s designed to bring systemization and automation to every aspect of a Realtor’s practice. As an example, it’s very easy to build Gary-Keller-style drip/touch campaigns for your clients, customers and prospects. Also very easy to build task scripts for assistants, which can then be assigned to clients or transactions.

Matthew and his team are working hard to integrate REST with the iPhone, bringing us one step closer to one of my long-held dreams: A unified contact database that is synced to every computer and mobile phone in our business. REST is one of the key components we are counting on to take our business into the cloud, and the iPhone app will be a big step in that direction.

BloodhoundRealty.com is a REST installation, but I confess we haven’t made the best use of it, so far. The software has been there for us, but we haven’t been there for it. We have an intern working now to correct our RESTlessness. But: Cathleen and I will both be running the beta iPhone app, so I’ll let you know how it’s working for us.

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Would that it were so! BloodhoundBlog is temporarily in the Technorati’s top 1,500 weblogs…

That image looks nice, but I’m pretty sure it’s a mistake. We’re growing, always, but I don’t think we’re growing quite this fast.

I know that Technorati has been cleaning out its sock drawer, so, for all I know, that could be a true reflection of our Technorati reach. But I think I’ll wait a few days before borrowing against that number…

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Tech talk: Chrome, a theoretical MacTablet, session tracking and a cheap and reliable phone-based amanuensis — is that too much to ask?

Chrome: Yawn. Firefox, OTOH, is coming along nicely. I now run it side-by-side with Safari on my Mac. Safari is still my fave, but I don’t rail at Firefox like I used to.

The user interface of the iPhone is actually a hugely subversive paradigm shift in computer design: Tapping, multi-touch, micro- and macro-spatial awareness — these are all new things under the sun. Cathleen has been hearing interesting rumors about this UI being the basis for a MacTablet computer. And Apple has an event scheduled for next week…

I mentioned a week or two ago that I’m having Cameron build a session-tracker for our web sites. What he’s working on will live at the top HTML level of our server, so that, if necessary, he can track activity from the same one IP address across multiple domains. In other words, if someone follows a link from here to BloodhoundRealty.com, then from there to one of our single-property web sites, we should be able to see every movement.

I find myself wanting something like Jott without the limitations. When I’m previewing a house, I’d like to be able to dictate my impressions on the spot. I’d also like to be able to dictate emails, weblog posts and miscellaneous memoranda. Is there anything out there like that, ideally phone-based like Jott?

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With its new iPhone application, Trulia.com is taking on-line real estate search to the streets

This is my column for this week from the Arizona Republic (permanent link). There is a fuller review of this new technology here.

 
With its new iPhone application, Trulia.com is taking on-line real estate search to the streets

So who is winning the Realty.bot race, Trulia.com or Zillow.com? Your guess is as good as anyone’s, but this week marks a decisive change in the game: Trulia just released an iPhone application.

Trulia Mobile will offer a limited set of location-based searches from Apple’s iPhone, from an array of other smartphones and from Dash Navigation GPS devices. The user-experience will differ by device, but the design premise is based on location-sensitivity: Your iPhone always knows where you are, so it can interact with Trulia’s file servers to show you a list of nearby listings or open houses. You can get a detailed summary for each home on your list, and you can then email the listing to a friend, contact the listing agent directly or map the home so that you can hop over for a quick peek.

It’s hard to argue with the design premise: If people are going to go out house-hunting on their own, whether they are really looking for a house or simply touring open houses for decorating ideas, why not use the location-sensing power of modern electronics to hook them into Trulia’s listings database?

The ability to contact the listing agent plausibly increases the likelihood of dual agency transactions, but the fact of life is that many, many people are at least starting their home search without the advice of a buyer’s agent.

But here’s the bonus that popped out at me when I heard about Trulia’s iPhone application: Listing agents who want to compete for mobile-empowered buyers need to get their listings into Trulia and they need to keep their open house schedules up to date. I like anything that makes listers more diligent in their duties to their clients.

The iPhone application is slick and useful as written, this because “data is the new Intel-inside” and Trulia has a rich store of data to draw upon. The usual caveats about opt-in versus Read more

Living in the cloud, Part I: Rethinking our email strategy

The other day I went through our cloud-centered email strategy:

I have my mail set up like this: From my iMac in the office, certain categories of email — initial client contacts plus mail from anyone in my Address Book — are redirected to a unique iPhone-only gmail account. That way, I get echoes of the mail that matters to me, with zero spam. The iPhone’s mail account won’t honor my gmail Reply To setting, which sucks, but, as above, the advantage is that I have my important email wherever I happen to be working.

I thought it was adequate at the time. But then the power failed…

In circumstances like these, I have fallen back to SquirrelMail, a Unix-based server-side mail client. That turns out to be less than ideal.

We got the power back today, and I was ready at once to implement our new email strategy.

Note that this little episode illustrates why it is so useful to control your own web hosting, at least at the mail-server level.

Here’s what we’re doing, as of this afternoon:

At the file server, my main email account (GregSwann@BloodhoundRealty.com) is being echoed to a new gmail account I created today. That account is simply intended to be a duplicate catch-all for all my inbound mail.

My iMac continues to receive my mail and to process it according to the rules discussed above — provided my iMac is working.

Under normal conditions, my email will be handled just as described above. But in the event of a power failure or serious crash, I will still have access to all of my mail from any computer anywhere, including my iPhone, without having to screw around with SquirrelMail.

Our cloud strategies are all about redundancy. I don’t care that I might have to react to up to three copies of any piece of email. My fear is that instead of three copies I will have zero copies to work with.

I worked out a redundant cloud-based fax strategy, too, that I’ll be talking about later.

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Zillow.com: The “REconometrics” Firm of the Future?

Have you been watching Zillow.com lately, in the press? They’ve done a nice job at selling the mainstream media that they are the “real estate statistics” firm of choice. With the introduction of Zillow Mortgage Marketplace, they are aggregating real-time live quotes and are positioned to trump other media sites for accurate mortgage rates reporting.

I”ve admitted that I’m a Zillow-phile. As a mortgage wonk, I love the data they gather and the reports they publish. I read Spencer Raskoff’s Active Rain Blog, weekly. I’m constantly comparing my terms offerings to the realistic quotes on ZMM (I’m a few hundred bucks more expensive but a helluva lot cheaper than the average quote-ask me why sometime). Their Zestimates are getting more accurate as they rewrite their algorithms and gather more market data. As a reporting service, Zillow could and should take the national lead.

Lately, I’m starting to see Zillow try to emerge as an advisory firm of sorts which is fascinating to me. I’m not speculating here, watch what’s happening:

I started reading Spencer’s blog with this post about trading commissions; I realized that we had a common background and that we probably speak the same language. This recommendation confirmed that thought.

This was the first time I saw Zillow offering its data as analysis, by Zillow economist Stan Humphries. Then, Spencer Raskoff suggested that Zillow would have prevented the rampant speculation, from 2004-6. Interviews on Bloomberg, radio shows, and CNBC, all “reporting” about the rapid decline, with really cool granular data. Most recently, I spotted Spencer on Bloomberg, reporting about the decline and offering his prognostication about the market. Today, Spencer took a well-deserved pot shot at the NAR economists.

Silly Active Rain chatter? I think not. It’s my opinion that Zillow.com is fashioning itself as the econometrics firm for real estate, I call it “REconometerics” just to give it a name. Where will they take that “new” product? They can:

  • Publish the data, like a newspaper, as interesting content for readers,so that Zillow can sell more ads.
  • They can Read more

Five for the road: iPhone apps for the real estate road warrior

Jott. Jott is preternaturally useful, since you can just phone yourself notes from the road and have them waiting for you when you get back to the office. Here’s an iPhone strategy: Install the iPhone app, but continue to use Jott by phone. That way, your Jotts will show up on your home email account, but they will also sync wirelessly with the iPhone client. You’ll have your notes with you wherever you happen to be working.

NetNewsWire. NetNewsWire is by now the de facto category-killer feed reader. The desktop version syncs wirelessly with the iPhone client, so you never see the same news twice: If you read it on your iPhone, it won’t show up on your home client and vice versa.

Mail. A built-in app? You bet. I have my mail set up like this: From my iMac in the office, certain categories of email — initial client contacts plus mail from anyone in my Address Book — are redirected to a unique iPhone-only gmail account. That way, I get echoes of the mail that matters to me, with zero spam. The iPhone’s mail account won’t honor my gmail Reply To setting, which sucks, but, as above, the advantage is that I have my important email wherever I happen to be working.

Maps. Another built-in app — and it made me look look smart twice yesterday. I’m very kinesthetic. I rarely get lost, and I can remember any route I have ever traveled. Even so, directions in real estate listings can suck. Having on-demand GPS mapping is a life-saver for a working Realtor.

Where. If Where did nothing but find the nearest Starbucks, I would still love it to death. But Where finds and maps anything that can be found — with a fast, clean interface.

Cathy has four pages of iPhone apps so far. I am very conservative by contrast. But I have two voice dialers that I’m trying to find time to train. If one or the other does the job, I’ll be sure to talk about it, because hands-free dialing would make the iPhone that much more valuable — to a Read more

Project Bloodhound: If your web site sucks — fix it

As I’ve mentioned, I’m building a dedicated direct-response web site devoted to pre-selling listing clients. Our main Phoenix real estate weblog does a good job selling to buyers, sellers, investors and relocators, the four markets we target there, but it is my belief that I can build a sales engine that can pre-sell and pre-condition homeowners in such a way that, by the time they contact us, we will be completely Beyond Competition.

I talked about a number of these ideas at Unchained in Phoenix, and we’ll be doing quite a bit more on this topic in Orlando.

Consider this:

21:28:40 http://distinctivephoenix.com/
21:29:43 http://abetterlisting.com/
21:32:18 http://abetterlisting.com/Presentation/
21:46:29 http://distinctivephoenix.com/
21:50:33 http://abetterlisting.com/

That’s a set of visits from one unique IP address. I built minimal session tracking into the site, but I have Cameron working on a much more robust solution. But what you’re seeing is at least 22 minutes of someone’s life. Not counting search engine spiders, this site draws fewer than six unique visitors a day — but they’re all like this. Twenty-two minutes is a short visit. People have stayed for over an hour. Others have come back for three or four days in succession. The site is not converting as well as I want it to — yet — but I’m seeing exactly the kind of user behavior I want.

There are points I want to make, but I’ll have to be brief. This site and our others are converting well enough that I’m short on time all the time.

But let’s hit this much, at least:

  • Your web site or weblog is a perfectible selling tool. If it sucks now — and sucks only means something with respect to a commercial metric, not because of some emotional aversion — fix it. Good marketing is targeted at specific prospects, presents them with a unique selling proposition and rewards the desired behavior. It ain’t rocket science. It just takes effort and testing.
  • Your web site is potentially the most efficient sales tool you have in your sales toolbox. It might not convert at the same rate as other tools, but its cost per conversion is incredibly low, and it sells for you Read more

Why Are We Wasting Our Time?

Over the past few days, Redfin got into it with a bunch of other real estate websites. What else is new?

In an argument about who has the most homes for sale, which began on TechCrunch and continued on Redfin’s blog, one participant argued that what consumers really care about is advanced filtering options, not inventory.

Which got us thinking. We spend a fair bit of time on advanced filtering options. And we’ve always thought we need to spend more: every week, we get requests for filters on parking, townhouses, waterfront location (Seattle), historic designation (DC), pool (LA).

So Redfin’s Jim Lamb just analyzed 70,000 Redfin searches from Thursday, August 21 to find out which of Redfin.com’s search filters people really use. It’s an analysis we’ve done before, to figure out whether a listing gets seen more if it’s priced to be included in web searches, like at $449,500 rather than $450,100.

What we learned last night was a little demoralizing. People filter on price, beds, baths, sometimes square feet, and new (or very old) listings, but not much else:

Redfin\'s Search Options

  • Price: Min 24.8%; Max 53.9%
  • Beds: Min 32.8%
  • Baths: Min 21.4%
  • Square Feet: Min 15.1%; Max 2.4%
  • Days on Redfin: 12.7% (this would include requests for new listings, listing on Redfin more than 45 days, or filters on on a specific number of days on Redfin; I suspect that almost all the volume comes from request for new listings)

On looking at this, Matt Goyer said, “Who doesn’t filter on square footage?” I could only sadly shake my head. Consumers completely skip the fancy stuff:

  • Lot Size: Min 5.5%; Max 0.55%
  • Year Built: Min 5.4%; Max 1.1%
  • Has view: 1.1%
  • New construction: 0.24%
  • Fixer-uppers: 0.36%
  • Open houses: 0.7%

So even as we argued that filtering options aren’t as important as inventory, we didn’t really believe it: our engineers have been hard at work on… you guessed it, more filtering options. Just now, it’s parking & townhouse filters. (Every week, I get a crazy screed from a consumer about how much people hate townhouses… which I read… from my townhouse.)

What do you think? Are we wasting our time? Confusing our consumers? As it is, we Read more