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Real Estate 1.0

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…is Kicking 2.0’s Butt

real estate 2.0


Real estate 1.0 seems to be kicking real estate 2.0’s butt these days in California’s East Bay area. Keller Williams Realty in Danville, CA (the office I work out of) has about 200 agents; on average about 75 – 100 Realtors attend each week’s meeting of the Realtors Marketing Association (Alamo, Danville, San Ramon) and the Valley Marketing Association (Pleasanton, Dublin).In the last month, I haven’t heard from a single Realtor about any new business arriving via their website. Houses are still be bought and sold in this part of the East Bay. Here’s what is working:

  • Working Expired Listings
  • Door Knocking
  • Working the Database

I don’t claim this to be 100% accurate, but it seems that the majority of new listings and new buyer agreements are arriving the old fashion way in this slow market.

Writer for national real estate opinion column AgentGenius.com, focusing on the improvement of the real estate industry by educating peers about technology, real estate legislation, ethics, practices and brokerage with the end result being that consumers have a better experience.

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12 Comments

12 Comments

  1. Danilo Bogdanovic

    January 27, 2008 at 10:18 am

    John,

    Glad to hear that the agents in your office are busy with clients, whichever way they may be getting them. But don’t count out real estate 2.0 and web 2.0. Here’s why:

    My business partner and I run three blogs – one is agent-centric and the other two are consumer centric. The two that are agent-centric are pulling in 2 to 3 ready, willing and able buyers/investors with lender letters in hand per week. An example of their email or phone call to us is, “We like and read your blog and want to buy a house. Can you help?”

    The blogs are also pulling in an average of one listing every 2 weeks. The same type of email or phone call listed above applies.

    Btw, we don’t do any of the action items you described in your post whatsoever and we don’t pay to advertise in print media. The way we get into print media is for free through quotes and articles on us by local newspapers as well as the Washington Post, Reuters, Wall Street Journal, etc. This is because the media reads and follows our blogs. And this happens with regular frequency. Consumers read this and then elevate the level of credibility they give us, which helps pull in buyers and sellers.

    This is not to say that the items you described don’t work. It just means that your claim that real estate 1.0 is kicking real estate 2.0’s butt may not be accurate.

    Btw, (static) web sites are real estate 1.0, not 2.0. You can’t clump blogs and social media sites into static web sites.

  2. Benjamin Bach

    January 27, 2008 at 11:21 am

    Interesting John… interesting

    I would agree that at my KW Market Centre (Kitchener-571) most everyone is getting business the old fashioned way – but most of my ‘new’ business (every sale so far in 2008) is now coming from people I’m initially meeting via my blog and other internet presence (facebook, among others)

    John what are you finding in your own business ?

  3. Lani Anglin

    January 27, 2008 at 1:20 pm

    John, I can’t say the same about our market (or at least our company). As always, out approach has been a consistent, delicate balance of 1.0 and 2.0. If you omit either, you may miss the business boat.

  4. Candy Lynn

    January 27, 2008 at 4:04 pm

    There were a few months that I was beginning to think my website was broken. The last 4-6 weeks both hits & info requests have been going crazy!
    Offers & listings produced from internet in last week.

    I use print to PUSH to website, I do not doorknock nor work expired listings. I do have a very personal high touch relationship with my clients. I work a niche market of horse properties so there is a great deal of common interest that results in clients not becoming just clients for life but friends for life.

    Is my marketing Web.1 or Web.2? I tend to think of it as just plain old fashioned professional service that just happens to use the tech tools of the day.

  5. Cyndee Haydon

    January 27, 2008 at 5:50 pm

    John,
    Maybe it depends on where your buyers are coming from – we find most of the people buying here are from somewhere else so we are seeing almost 100% of buyers coming from the web – now the listings are a different story – they seem to come more from the 1.0 way for us.

  6. Jonathan Dalton

    January 28, 2008 at 1:20 am

    I’m seeing some business from hitting expireds, though I’m not as consistent as I ought to be.

    But given I’ve pulled in a solid lead a day off the various websites this past week (and going back for some time), 2.0 has its place.

    Actually, forget I said that. If you’re an agent in the Phoenix market, please do not bother with the web. it’s a fad and will go away. Knock on doors. Much better.

  7. Benjamin Bach

    January 28, 2008 at 5:46 am

    This may be what we call tunnel vision – it seems all of us commenting on blogs (i.e. and are ‘in the web 2.0 know’) are getting business from blogs, while ‘old school’ realtors may not be generating leads online.

    I had a realtor ask me last week how quickly would he get business from a blog if he paid me to start one for him. I chuckled.

  8. Chris Lengquist

    January 28, 2008 at 10:20 am

    I do both…with heavy emphasis on blog/web. And the leads/clients generated reflect that.

    The key is DOING SOMETHING.

  9. Port Orange Homes For Sale

    January 28, 2008 at 1:10 pm

    If it works don’t break it. Seems like that what works in his market and hey he is on this blog so he appears to be on the internet blogging that will bring more business. Good luck to all in these hard times with creativity and doing what ever it takes to sell real estate.

  10. Borino

    January 28, 2008 at 1:56 pm

    John,

    Your information confirms what vast majority of my clients from almost every US market confirm – expireds are plentiful, fairly easy to work, and can be one of the most profitable niches right now.

    Good ol’ fashioned work is back in style, it seems. And it’s profitable. 😉

    Borino
    http://www.ExpiredPlus.com

  11. Nouveau Riche

    June 15, 2008 at 4:59 am

    Very interesting blog you have here. I don’t know much about real estate and I had started to read about this subject a few days ago and I must say that your blog made me understand a lot of things about real estate. Thanks

  12. Pingback: Sacramento Real Estate Market is On a Roll...! | Realty World - Your Property Source

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Business Marketing

Technology is helping small businesses adapt and stay afloat

(BUSINESS MARKETING) Small businesses need to utilize digital platforms to adapt their businesses during COVID-19, or else they may be left behind.

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While many may not have imagined our present day back in March, and to what extreme we would be doing things “remotely” and via “hands-free contact”, we have to give some credit to small business owners who remain flexible and have pivoted to stay afloat. They deserve major credit on adaptations they have made (and possibly investments) in new technology (ordering online, online payments) especially at a time when their in-person revenues have taken a hit.

There are various marketing buzz words being used lately to say “let’s keep our distance”, including: curbside, to-go, hands-free, no contact, delivery only, order via app, social distancing and #wearamask.

The thing is, if you really think about it, small businesses are always in evolution mode – they have to pay attention to consumer consumption and behaviors that can shift quickly in order to stay relevant and utilize their marketing and advertising budgets wisely. They heavily rely on positive customer reviews and word of mouth recommendations because they may not have the budget for large scale efforts.

For example, we use Lyft or Uber vs calling an individual cab owner; we order on Amazon vs shopping at a local mom-and-pop shop; we download and make playlists of music vs going to a record or music store. Small business owners are constantly fighting to keep up with the big guys and have to take into account how their product/service has relevance, and if it’s easy for people to attain. In current times, they’ve had to place major efforts into contactless experiences that often require utilizing a digital platform.

If stores or restaurants didn’t already have an online ordering platform, they had to implement one. Many may have already had a way to order online but once they were forced to close their dining areas, they had to figure out how to collect payments safely upon pickup; this may have required them to implement a new system. Many restaurants also had to restructure pick up and to-go orders, whether it was adding additional signage or reconfiguring their pick up space to make sure people were able to easily practice social distancing.

According to this article from the U.S. Chamber of Commerce, “Studies have shown that 73% of small businesses are not aware of digital resources, such as online payment processing tools, online productivity tools, e-commerce websites, online marketing and other tools, that can help them reach customers around the world. If small businesses had better access to global markets, it could increase the GDP of the United States by $81 billion and add 900,000 new jobs. During the pandemic, this could also mean the difference between thriving and closing for good.”

There are some larger corporate technology companies offering ways to support small businesses whether it’s through small business grants from Google, resources and grants from Facebook or Verizon giving them a break on their telecom bill. The challenge with this may be whether or not small business owners are able to find time from their intense focus on surviving to applying for these grants and managing all that admin time. Many business owners may be focusing on what technology they have and can upgrade, or what they need to implement – most likely while seeing a loss in revenue. So, it can be a tough decision to make new technology investments.

It does seem like many have made incredible strides, and quickly (which is impressive), to still offer their products and services to customers – whether it’s a contactless pay method, free delivery, or even reservations to ensure limited capacity and socially distanced visits. There are still some that just haven’t able to do that yet, and may be looking at other ways to take their business to a wider audience online.

We would encourage, if you can, to support small businesses in your community as often as you can. Understandably there are times that it’s easier to order on Amazon, but if there is a way you can pick up something from a local brewery or family-owned business, this may be the lifeline they need to survive and/or to invest in new technology to help them adapt.

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There’s a shortage of skilled workers, so get learning

(BUSINESS MARKETING) COVID-19 may end up justifying training funds for lower-class workers to learn new skills. Skilled workers are desperately needed right now.

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skilled worker

The COVID-19 pandemic (yes, that one) has ushered in a lot of unexpected changes, one of the which is most surprising: An increased call for skilled workers — a call that, unfortunately, requires a massive retraining of the existing workforce.

According to the New York Times, nearly 50 percent of Americans were working from home by May; this was, reportedly, a 15 percent increase in remote work. The problems with this model are expansive, but one of the greatest issues stems from the lack of training: As employees of lower-class employment transitioned to working online, it became increasingly evident that there was a shortage of skilled workers in this country.

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COVID-19 has accelerated many trends and processes that should have taken years to propagate, and this is clearly one of them.

Supporting laborers in developing skills that help them work within the technology bubble isn’t just a good idea–it’s imperative, both morally and economically speaking. Even middle-class “skilled” workers have had trouble keeping up with the sheer amount of automation and technology-based skillsets required to stay competent; when one considers how lower-class employees will be impacted by this wave, the outcome is too dark to entertain.

It should be noted that non-skilled workers don’t necessarily have to scale up their training in their current fields; the Times references a truck driver who pivoted hard into software development, and while it may be easier for some to focus on their existing areas of expertise, the option to make a career change does exist.

If we take nothing else away from the time we’ve spent in quarantine, we should remember that skilled labor is integral to our success as a society, and we have a moral obligation to help those who missed the opportunity to develop such skills fulfill that need.

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Business Marketing

6 tips to easily market your side hustle

(BUSINESS MARKETING) It can be hard to stand out from the crowd when you’re starting a new side hustle. Here are some easy ways to make your marketing efforts more effective.

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side hustle marketing

Side hustles have become the name of the game, and especially during these turbulent times, we have to get extra creative when it comes to making money. With so many of us making moves and so much noise, it can be hard to get the word out and stand out when sharing your side hustle.

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