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Tag: Real estate trends (page 1 of 1)

May 2, 2010

Professional Development, Are You Doing Enough?

by

Realtor, Surfer-in-Training

Author website

First, I must say that it is an honor to be able to share my thoughts with such a distinguished audience.  This site and its members has been essential in my professional growth and development.  As such, I found it fitting that my first post should be about professional development.

As real estate professionals, we have a duty to develop our real estate expertise and industry knowledge in order to keep up with the changing markets and best serve our clients.  Yet everyday I am seeing (both online and offline), professionals who are content spouting off ‘advice’ (and I use the term loosely here) on topics about which they apparently are ill-informed.  For example, a few days ago I overheard an agent telling their client about a ‘real estate investment opportunity of a lifetime’ (that’s an actual quote, I couldn’t have made THAT up).  However, in their cashflow worksheet he failed to take into account property taxes, estimated repairs, projected vacancy rates, etc. which when calculated would make this cash cow into quite a money pit.  In addition, although as professionals we are expected to have a certain degree of industry expertise, we are NOT an attorney or a tax adviser so refer any questions outside your scope of expertise to the appropriate party!  I saw a post on a national real estate forum in which an agent answered a potential buyers question:  “I am considering buying a $52K property that I intend to rent out to bring in income, do I qualify for the $8k tax credit”.  The agent’s response was an unequivocal YES, “Yes, you qualify and it’s the perfect time, I am a Realtor in your area so give me a call”.  Does anybody see something wrong with that answer?  I won’t go into detail as to the many ways in which he is wrong, but you get the point.  Don’t pretend to be an expert in something you are not!

I fully realize that this is not applicable to BH members/subscribers, as by nature Bloodhounders are professionals who seek to raise the standard by continuously pursuing self-improvement and knowledge.  Read more

May 9, 2008

Thinking myself out of business: a lone real estate agent faces the future

by

Real Estate Broker

Author website

loner.jpg Agents get leads from different marketing strategies, both offline and online, but where will most of the leads come from in five years? Looking ahead I’d have to say leads will come mainly from one source — Google.

Unless something changes, Google has the lion’s share of searchers. As more and more home buyers use Google to search for area information and sites where real estate listings can be found, it becomes obvious for listing agents and buyer agents that search placement is, and will be even moreso in the future, vital to success in the real estate business.

Before I go any further, I’ll address opposition to this statement by saying that some agents will continue to be successful using marketing methods outside Google search, but I’m talking about the majority of agents working in the real estate business full time. I’m excluding the mega-agents who attract buyers and sellers through their star status and obviously superior abilities of attraction and promotion — the majority of agents will not be stars. Plus, even the offline efforts that give an agent exposure might be eclipsed after someone gets online to begin searching — an agent’s name might appear in a magazine, or a billboard, or through the mail, or a flyer in a store, or on a “for sale” sign on the street, but when the buyer goes back to their computer to search, another agent who has mastered the art of placement will pop up and lead the buyer in a different direction. I predict the online presence will become more valid in the buyer’s mind than offline presence as consumers learn to trust and depend on the net more and more.

I don’t believe Zillow and Trulia will be major factors in lead generation. If they survive, they will be a draw for those curious about real estate in general, but searchers will be more sophisticated and agents will be smarter about SEO.

It’s my opinion that the majority of agents will need to get good placement on Google in order to be successful. Google placement won’t be the ONLY way to market, just the most effective way Read more

April 13, 2008

Doom and Gloom Win Again: Real Estate Is Dead

by

Real Estate Broker

Author website

It is now pervasive, whether fact, fiction, miscalculation or a misunderstanding of economic adjustments — doom and gloom has colored our lexicon and everyone’s on board. The “realists” are merely pointing out facts, the politicians are merely offering a big hand to help all the little people in this troubling time, the agents are merely accepting fate, the lenders are merely going broke, the pundits are merely predicting a dour future — it’s over, real estate is dead.

If you don’t believe it you are an idiot, a Koolaid drinker, a liar, a naive babe in denial or an unscrupulous player preying on the unsuspecting. When someone asks you about the real estate market, tell them it’s dead and getting worse. Tell them there is nothing positive in sight, that it might go for years, decades, a century, who knows, just tell them it’s dead.

We’re doomed, and gloom is our tomorrow and the next day and many after that. Close your doors, lock up shop, sell the Mercedes, real estate is dead. Foreclosures will climb, and after the sub-prime, the leveraged will crumble and then the middle will fold and the highest of the high will fall like tin men one and all. No one will be spared, real estate is dead.

The builders will watch their half-built McMansions sit like bones in a graveyard; realtors will be playing guitars in the park for nickels and dimes; a huge swooshing sound will be heard as the last of the ill winds blow over the rubble that was once a great industry and renters will rule the world and lord over those who once were lords of land. Real estate is dead.

Brokers and lenders will flip burgers or work as city clerks while builders cut grass and investors shine shoes and players of all stripes sing the blues — real estate is dead.

Obama will help the least fortunate, but the ones who rode high will meet their just rewards, for, afterall, it was greed that brought us low. In the wasteland of RE web 2.0 there will be blogs written by the depressed and dispossessed, mashups showing a combination of sorrow, charts showing Read more

March 7, 2008

Zillow Nation? Zeelocation?

by

Real Estate Broker

Author website

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

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