Merry Christmas. Happy Hanukkah. Happy Kwanzaa… Festivus… all that stuff. Lovely… now let’s get down to business. I’m buying a house. Along the journey, I’ve paid close attention to how the average Real Estate Agent operates. I’m sharing these thoughts with my fellow Bloodhounds at the risk of offending some – or perhaps all – […]
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Redfin published more data today arguing that a listing overwhelmingly gets most of its traffic on debut: about four times more than it does only a few weeks later. What we didn’t discuss was the correlation between traffic and a transaction. Is the day-one traffic spike due mostly to rubber-neckers? My sense from watching how […]
Redfin just published MLS data from seven counties across the U.S. on the likelihood that a listing activated in 2009 sold by August of 2010. It turns out that the listing agent got a sale 47% of the time, a number that seemed surprisingly low to us, particularly since staging, photographing and marketing costs can […]
We’ve spent plenty of time trying to figure out what’s fair to pay Redfin agents. As part of that exercise, we analyzed the gross commissions for all Seattle-area (King County, to be precise) agents who closed at least one transaction over the past year (May 12, 2009 to May 11, 2010). The data surprised us, […]
The iPhone screen shot is from a piece of software I’ve been playing with since Thursday. We got the gross idea from Redfin’s agent-monitoring software. Their stuff is simpler and prettier, but ours is robust and mission-critical. What is it? Basically an automated tickler, the relationship-management part of Customer Relationship Management software. I’m still massively […]
Don Stewart posed an interesting question this morning about whether real estate is changing top-down from the broker or bottoms-up from the agent. In a post about how Redfin sees the real estate industry changing, Don suggested we had focused too much on the laws, the brokers, the MLS data sharing rules and the system […]
All this week there has been a lot of buzz around the interwebs about Google’s possible acquisition of Yelp.com. The local reviews website has been wildly popular almost everywhere I have been in the country and could stand an image makeover in my humble opinion. One big enhancement could be the business user side to […]
I do not get around to as many blogs as I would like in the real estate space. (Seriously – I am busy with EricOnSearch and the brokerage), but it did not escape my notice that my friend and fellow dog, Galen Ward and Estately are running in the black. EricOnSearch (my little teeny tiny […]
What’s going on in Long Island? Over the past week, we noticed that 66% of Long Island listings require prospective home-buyers to register on a website before seeing the address. Why would a listing agent do this? These homes get 42% fewer online viewings on Redfin, and are on the market 54% longer. And any […]
Has anyone noticed listing agents hoarding REO inventory for their own clients? In California, where we now have only 4.2 months of inventory, we have begun to see bank-owned listings marked as contingent within only a minute of being listed, only to return to the market a month later and immediately be bought by a […]
Earlier today, Louis from HomeGain posted about them having an A-plus BBB rating. I will buy that. I think HomeGain has come a long way on his watch and think they have earned it. But since I had not looked at BBB ratings in a LONG time, I was intrigued enough to check out some […]
Per my earlier post regarding the evolution of technology driven real estate solutions, I believe the next generation of buyers and sellers will be more empowered to search, purchase and sell real estate themselves, without the services of a real estate professional. At the highest level, the success of an entirely virtual solution rests in […]
Several recent posts have had me thinking about just how technology isn’t addressing the needs of cats. Needless to say, there are many different types of cats – cats that roam alleys picking through the remnants of fish bones versus the ones that eat Fancy Feast and sit on the laps of chauffeur driven owners […]
A Screencast on HeyCentralPa.Com’s theme choice and a bonus cast on ditching BHB style ugly permalinks are up over at HouseYourMom…. I’m going to go ahead and give the very young and probably buggy P2 WordPress theme a shot I think. It touts a twitter like interface that will allow visitors to interact with eachother, […]
I hate to admit it — I so often have to — but Greg Swann was right. A few months ago,we got into a debate about whether venture-funded technology companies were squashing little brokers. I told Greg the little brokers had no brains — why aren’t they all trying to build a great search site? […]