The market is changing, and so should you (part 1)

·         The days of taking a listing, placing a sign in yard, entering the listing in the local MLS, and then waiting on a sale are over, at least in the current market.  Both buyers and sellers are looking for that “difference” that is going to help them buy or sell, or both.

The Internet is the new way.  Yes we have heard this for some time.  The problem is many heard “the internet is the ONLY way”.  That assumption would be incorrect.  Yes it is true that many buyers and sellers begin their research on the web.  But that’s not where it ends.  Studies have shown that these savvy buyers and sellers end up working with the first agent they make contact with.  But what are the factors that impact that first contact decision.

For the most part, these buyers and sellers and looking for signs (not the obvious yard signs), things that tells them you are successful, trustworthy, and will get the job done.  If they find your website, and see it as useful, but they don’t find other aspects of your real-estate career to backup your site, they will likely move on to the next agent.  If they don’t see your name in other places, other websites, yard signs, mailings, advertisings; they’ll assume you’re probably new, got a hot new website, but lack the experience they need to help them get the job done.

On the other hand, if they see blog sites and postings by you at various real-estate related sites like Trulia, on subjects they find useful and interesting, they may be willing to forgive the other shortcomings and give you a shot.  Likewise, if you’re not totally internet savvy, but you have a big ad in the local paper, or you have a lot of signs around town, they may be willing to forgive your tech shortcomings; feeling you will work harder to get the job done in the end.

So what does all this mean?  It means if you’re an experienced agent with many years of measurable production under your belt, you’re probably going to do well in any market.  Why?  Because you are already practicing the tried and true activities that lead to a higher than average rate of referrals, that's why.  These handed down activities are the bread and butter of being successful in real-estate.  They say not only am I successful, but I’m trustworthy enough to have your neighbor, friend, or relative recommend you use me.  I have earned my stripes, the old fashioned way, and I can probably survive, even if my website or web skills are not the best.  Does it mean I may be leaving something on the table by not having great internet skills?   Absolutely! But it is not as important as it would be if you were just starting out or you had not amassed your multi-million dollar database of existing clients.  Remember, it cost more to capture and sell to a new customer than it does to sell to an existing one.

What I’m hearing then is that the internet is really not all that important.  Not hardly.  What you are hearing is that the National average age of a realtor is the high 50s.  That means we have a bunch of these senior real-estate giants who still garner the lion’s share of the business.  This also means we are seeing more and more of these starting to retire.  This is leading to a very interesting and serious problem and opportunity.

That knowledgebase that has been handed down through the generations is being lost.  It’s walking right out the door with the retiree.  At the same time, new high tech agents are coming in, thinking the “old way” is dead and gone; long live the internet.  We are really missing a golden opportunity.  At least most of us are.  Some of the truly smart “new” agents have figured out that the Internet alone isn’t going to make them the new real-estate giant they want to be.  They know it’s going to take a mixture of the old with the new to make that happen.  Those smart agents have probably started out as a team member of one of those “old guard” agents, and spent a lot of time learning and understanding the way of the “Jedi”.  You know, the old guard protectors of the Universe in Star Wars.  Mix a little old school with new market tech and you just might have something there.

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GIS and Property Lines Downloaded To Your GPS

Whether your a Realtor, property owner, buyer, developer, or even a hunter...there were probably times you would like to have a handheld GPS with the property lines of the land you are walking on displayed.  This would allow you to know exactly where the property lines were, and more importantly where YOU were in relation to the property boundaries.

This short video demo will show you one solution I have come up with using Open Source (free) software.

Posted via web from wbarrettpowell's posterous

GIS and Property Lines Downloaded To Your GPS

Whether your a Realtor, property owner, buyer, developer, or even a hunter...there were probably times you would like to have a handheld GPS with the property lines of the land you are walking on displayed.  This would allow you to know exactly where the property lines were, and more importantly where YOU were in relation to the property boundaries.

This short video demo will show you one solution I have come up with using Open Source (free) software.

Posted via web from wbarrettpowell's posterous

GIS and Property Lines Downloaded To Your GPS

Whether your a Realtor, a land owner, a land buyer, a developer, a hunter...at some point you have probably said to yourself "it would really be nice if I could download property boundary lines directly to a handheld GPS.  For a Realtor, this means you can now walk property with a potential buyer with the confidence you know where property lines are and where you are on the property.  For a developer walking large tracts of land, the same is true.  For a hunter, well if you have permission to hunt on someone's land you might want to make sure your actually on that property.

The video below will show you a short video of a solution I put together using Open Source applications to accomplish just that, downloading GIS property lines to a Garmin GPS.

 

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Community Websites For Realtors by Barrett Powell

·         Want To Own a Community?  Try Sponsoring a Neighborhood Website
by Barrett Powell    

Community websites were once the domain of the developer and the homeowner’s association.  However, with the expanding presence of the web in real-estate, community websites have taken on more of an “active referral” role for the savvy firm and agent.  Using a community web can allow an agent and a firm to become part of the community by offering services and information the property owners see as useful.  This type of website offers the most upside of any online strategy taken on by the agent and firm, especially if the agent and firm has already sold homes to clients in that neighborhood.  The old saying “it cost a lot less to sell to an existing customer than it does to get a new one” still holds true today.  The focus of an existing client after all is not just selling them another property or listing their home, it is getting them to tell others about you and recommend you to them.  In other words, to become an “active referral” for you and your firm.

Community websites can be categorized as one of four basic types; Homeowner’s Association type sites, marketing sites, discussion boards, and the newest hybrid that includes aspects of each called “Community Web”.  Each has characteristics that exist based on the specific job the site was designed to do.  Let’s take a look at each.

Homeowner Sites

Homeowner Association sites such as those offered commercially by companies like AtHome.net and CAMS are directed at the property owners and are what we call serial in nature.  These sites are Web 1.0 in terms of features and functionality and most go unused if used at all.  These sites usually go up after a certain percentage of the development has been sold.  This is more than enough time for another firm or agent to come in and establish themselves as the “resale” agent of choice.  We have seen this time and time again once a new home development is sold out.

But these Homeowner Sites again are not meant to drive business to a firm or agent.  They are there to perform a service of providing an online information brochure and offer access to community documents, and a rudimentary communications platform that relies mostly on e-mail blast as a method of communication.  The content is static for the most part, and we find most of the time information is out of date or not posted at all.  These sites are usually controlled by the association and the elected officials of that board and do not act as referral or business basis for an agent or firm.  They were not created to benefit a firm or agent.

Marketing Sites

For the most part, marketing sites are online brochures.  They are typically designed by a local web firm.  The lifecycle of the traditional marketing site consist of a startup at the opening of the development and then remaining up and unchanged for the duration of the neighborhood’s new home sales.  We are not going to spend time on this type of community site because I think everyone is already pretty familiar with them and their purpose.  Let me just say that there is an excellent opportunity to own the referral base of the development by simply transforming the marketing site over time.

In other words, by adding more of the features we will discuss in the next two community sites the marketing site can transform into the community web.  And since time and effort have been used to brand the site and market it to begin with, it would be a natural progression for homeowners to begin to leverage the same site they used to purchase their home to securely find a babysitter in their new neighborhood.

Discussion Boards

A fairly new phenomenon is neighborhood discussion boards.  These boards can range from open boards  which resembles more of a wild west interaction to more helpful neighbor to neighbor type that are closely monitored and keep conversations positive.  The key to these type of sites is that for the first time, members can participate in a more parallel format where they control when they communicate and are communicated with verses an e-mail blast.  Information can be posted and read and responded to in a more natural language progression of back and forth.  These sites create more of an actual sense of neighborhood, even on a small level for an individual development.  The key is to restrict access to property owners only and to monitor the site for inappropriate content.

Blogs are in essence a form of a message board.  The poster presents his or her information and solicits comments concerning its content.  A blog can offer a property owner an option to e-mail blast for information that may be long in content or that may need to be referred to multiple times.  Utilizing a tool like Twitter to accomplish mini-blogging, members may choose to “follow” content such as neighborhood updates or can simply go to the community web where the neighborhood Twits are posted in a community news and updates section.  Either way, these create more of a dynamic Web 2.0 environment and much more likely to be visited, thus more likely to offer the sponsoring firm or agent better access and more “impressions” to be view.

The Hybrid or “Community Web” Site

Now let’s take the best of the all the other sites and add things like widgets from such sites as Trulia and Zillow real-estate.  Property owners can get instant updates on home values and other property related information on their neighborhood and access to real-estate reports.  Coupled with continued property listings from the Marketing Site, the homeowners will feel more empowered concerning when and if they should sell and they will be more thankful to the agent or firm providing them with this key information.

You can also add RSS feeds from other complimentary sites such as county or town government.  If you don’t have a feed available from your local government of local news site, create your own feed using sites like Feed43 (www.feed43.com).  By creating a space where property owners can go to get information in one place they cannot get elsewhere about their particular neighborhood, you create more of a sense of community and a sense of loyalty, and thus the site becomes an “active referral site” for you and your firm.

You don’t need to spend a bundle to start your own community web.  There are two ways to do this for little or no money.  One is to host a site that you build using all these free tools.  The other is to leverage free sites that are “ad” funded.  Let’s look at both of these options.

Hosting Your Own Site

If you’re savvy enough to have your own web server, or if your firm has its own or a hosted web server you are able to use, you can create your own community website by using tools available to you at no cost.

The first thing to do is go out and shoot some photos of your community.  There may be “canned” photos available and as long as you have permission to use them that is fine.  You want to gather as much information about your community to add to your main page so that visitors can read a little about the community or development.  Leave space to add news feeds, widgets, or other items that might make the main page more interesting.

You want to use have a secure discussion board for your site so property owners can ask questions and provide answers in a neighbor to neighbor sort of environment.  You don’t have to make this secure if you don’t want.  You can open the discussion board up to the public as well.  Just make sure you use the administrative feature of your board to approve any postings before they are posted.  Either way, you want to make sure improper content doesn’t end up on your site and that neighbors feel comfortable posting for things like babysitters or someone to do yard work.

With regard to discussion boards, there are a number of options here.  Most of your hosting companies offer some type of message board feature for free with your hosting contract.  For instance, the hosting company Hostway offers free InterActives Forums with every hosting account.  This gives you much more flexibility and provides for a no additional cost “ad free” BBS.

Another option is what are called “ad supported” message boards.  An example of one of these is ProBoards (www.proboards.com).  You can setup as many message boards as you want, and the advertising is actually very unobtrusive.   Most of the time you don’t even notice the ads and what ads you do see are many times applicable to message board visitors.  Each one of these boards does have a “for fee” version that removes any ads, and the cost is very small.

If you have your own web server or you have a hosted account that for some reason does not include a message board feature, you can also use public domain message board code that is free and readily available for download from sites like Sourceforge.    Examples of these are PHPBB which is one of the most popular to Mombaboard which works in conjunction with Momba, another public domain web site application.  There are literally hundreds of such applications that are literally drop in your website or hosting site and begin administering the board.

Regardless of which ever message board tool or technology you choose, they are each designed to be easily inserted or embedded into your community web site in a seamless way.

Adding blogging and mini-blogging to your community site is just as easy.  Again, most hosting companies offer blogging as a free or low cost add-on to your account.  If they don’t, there are many options here as well.

Two of the most popular free blog sites are Blogger and Wordpress.  Both offer free sign up and design and you can start your own custom blog in just a matter of minutes.  The result will be your own web URL for your own web blog site.  You can now insert or embed either of these via your URL into your community web site.  While it is not required, by registering your own blog domain name, you can use a custom url, such as ChathamDownsBlogByBarrett.com to navigate to your blog page separately.  Your blog is a great way to announce events or news updates for your community.  You can even provide community leaders, such as the president of the HOA with their own user login to allow them to post to the blog as well.  And the results get posted to your blog site and to the embedded spot on the community web site.

If you have little tidbits of information that need to be shared with the community why not think about setting up a community Twitter account.  You can post up to 240 characters of information in little info bites that can be posted quickly and read quickly.  You can even post and read Twits on a mobile phone.  Homeowners can “follow” the post via e-mail or on Twitter.  Twitter also provides code that allows you to insert or embed the Twits, Twitter post, into the community website.  These could be inserted on the main page as a Community News section.  Links can even be included in the Twits so visitors can click on the link in the Twit and be taken to the linked page to read more information.  One example I use is to post short little bits about local government events or news and then include the link to the full article on the town or county website.

Building this type of “hybrid” community web portal is more difficult to do than just paying for a commercial HOA website.  But it gives you much more flexibility with regard to branding and content and includes the social networking aspects not available in the commercial sites.  If you have the ability, or can find a tech type or web development company to help you put together this type of community web portal the payoff will come in the form of more listings and sales as you become the “embedded” realtor of the community.

Finally, if you just don’t have the ability or time to do any of the above, there is one more option.  Sites like Ning have just come out that allow you to sign up for free and create your own social networking community site.  The sites don’t do everything, but hey, it’s free and its quick, what do you expect.  That said, the sites that can be created are still very interesting and done right and kept up to date can still become an “active referral” site for the agent and firm.

Now get out and start building your own community!

Barrett Powell

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Twitter in Real Estate by Barrett Powell

·         A lot of people are Twittering.  But how many are using the Twitter Apps to add feeds to your website?  If you’re not, you’re missing out on an excellent opportunity.  You can even have multiple Twitter accounts for different personalities.  Let me explain.

Let’s say you’re looking for a quick way to add personalized updates to your website.  Did you know you can add a Twitter update feed right into your site using the Twitter Apps?  Look at your current website and figure where would be a good place to have a small Twitter feed added to the page, or another separate page in your site.  The feed will be a small square whose length is dependent on the number of feed items you choose to have shown at one time without scrolling.  Keep this space in mind.  Now let’s go to Twitter and get our feed.

Located at the bottom of the page in Twitter, is a menu item called Apps.   Clicking on this will take you to a page with many little programs called widgets that you can add to various websites.  By selecting the very first widget, the one offered by Twitter, you can then select the HTML option on the next page and pick next.  Then you can select how many Twitt feeds you want displayed at one time and what if any title you want.  Don’t worry that you have more than the number of Twitts shown in your account.  It just means the rest will be available with a scroll bar that is automatically added to the feed widget.  The result will be code that Twitter offers you to copy into your clipboard. Once you have copied the code, you are ready to past it into your site.

If you do your own websites like I do, you simply figure out where you want the widget to be placed on your site.  If you use one of those canned websites, you can probably use the code on them to.  My company website is provided by e-Neighborhoods through my affiliation with RE/MAX.  The default site had a nice little text box that was just sitting there not really helping my site or my site ranking.  I simply replaced that static text box with my Twitter widget.  You can see the results here http://barrett.powell.remax.com, and follow my postings on this site on Twitter under the name “barrettp”.

If you setup your Twitter account with your mobile phone, under the Devices tab on your Twitter settings, you can even send Twitter updates via your mobile phone.  Because the feed is real-time, any updates sent via your phone show up immediately on your website now.  Once I was sitting in a restaurant waiting on my order and remembered some bit of news I wanted on my website.  I pulled out my Treo 700wx phone and posted the news on my Twitter account and it showed up right then on my website.  How cool is that?

I like to post little short news headlines and then past the link to the full story in the post.  As you know, Twitter will convert really long URLs into what it calls “tiny urls” so your post will fit the 240 character limit.  So it’s a great place to post news about a new post in your larger Blog with the link to the full blog posting.

Now, let’s say like me, you’re looking for more of an advantage in your market.  And let’s say like me, you have a fairly large market for “Green” type construction and homes.  You could do like me and create another Twitter account that focuses just on topics of “Green” real-estate.  In my case, my “Green” Twitter account is “GreenHomesandLand”.  Not only are my topics focused on “Green”, but my Twitter theme reflects this “Green” branding as well.  I even setup a separate website, http://www.GreenHomesandLand.net, which features links, resources, and even listings for my area that are Energy Star compliant and focus on “Green” living.

So get out there and start “Branding” yourself with customized Twitter feeds about your area and area of expertise.  And don’t be afraid to have multiple Twitter personalities to cover the vertical real-estate markets, such as Green, or New Homes, or Retired Living, or whatever area you specialize in.

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Real-Estate GPS by Barrett Powell

·         Living and working as a Realtor in rural North Carolina, one of our rites of passage has always been walking land with buyers and sellers.  While this all sounds easy enough, notwithstanding the needed exercise, it can really turn into AN EXCERSISE if the property lines are not clearly marked, which is the case most of the time.  If you are a rural agent or property owner, you know exactly what I mean.  Sometimes you may be able to locate a corner marker or two and then try and draw an imaginary line between them.  Knowing about where the property line is can be extremely helpful for obvious reasons.  But other less obvious reasons to know where property lines are become even more evident when you get right down to it.

One good example for knowing where property lines are would be to locate items on the land and know whether the item was on your property or your neighbor’s.  Things like trees, easements, and roads are the obvious.  Things like setbacks, stream buffers, and such are less so.  In rural areas, we typically have no county water or sewer so we have to have wells and septic systems located on the property.  Many times you have to provide your local government with the location of the house and well to have a septic field located on the property.  This is to assure a minimum distance between the house and well from the septic field.  So there are many reasons for having a good way of knowing where property lines and other features of the property are located.

There are also good reasons to know where YOU in relation to boundaries and other features on a piece of property too.  I have walked many a parcel that was heavily wooded.  If you are walking a heavily wooded tract that is 10 acres or more it is not difficult to get turned around and not know which was is back to the truck.  Don’t ask me how I now this.  You especially don’t want to try this at the height of the tic season.  It is especially good to walk the property with the current property owner and not simply rely on their recollection of where the property runs.   You would not believe how many incorrect boundaries are handed down generation to generation.  A buyer will appreciate knowing where they are on the property to help them visualize where they might want to build their house, or locate a barn or other facility.

Over the years, I have found solutions using free public domain software to get property data into my handheld GPS.  Today, all my agents use the system to walk property with sellers and buyers.  It has become a competitive advantage.  My agents get asked all the time about how to get the same capability.  So I have put together a link with the software you download and install along in instructions on how to use it.  Contact me and for a nominal fee I'll send you the link to an application you can download and install along with instructions on how to find the parcel or parcels you need and upload them into your GPS.

There is no longer a reason to walk land without confidence.

Barrett Powell

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