Connect with us

Business Marketing

Show me the Money!

Recently both Century 21 and The Realty Alliance have partnered with REALTOR.com® to provide their agents with Showcase Listing Enhancements.

Published

on

Please welcome our newest writer, Ben Goheen, a Realtor and appraiser in Stillwater, MN. He is active on twitter and uses social media in his practice, he is an analytical thinker and has a great sense of humor, so we know you’ll love his writing. Please welcome him in the comments (as well as weigh in on his first piece).

realtor-left-brokeTwo recent press releases from NAR have peaked my interest but seemed to have gone fairly un-noticed. Both Century 21 and The Realty Alliance have partnered with REALTOR.com® to provide “Showcase Listing Enhancements” to their agents. This includes personal branding of listings, up to 25 jumbo size photos, open house alerts, full-motion videos and virtual tours.

Feeding the cash cow

Having to occasionally make extraordinary assumptions as a real estate appraiser, let me try to run some numbers. A Showcase Listing Enhancement for an agent in my area costs $199/year if you have 0-3 listings, $362/year for 4-10 listings and $766/year for 11-25 listings. The Realty Alliance claims to have more than 100,000 agents, meaning the street value is $20,000,000 on the conservative side.

According to Century 21 they are the world’s largest residential real estate sales organization with approximately 8,500 offices. Again being conservative we can add $20,000,000 in estimated revenue. The exact dollar amount these companies paid to NAR will most likely never be made public, but it’s pretty safe to say the Showcase Listing Enhancements aren’t given away for free. Not bad for a month’s worth of work.

Where is the money going?

Let’s hope the extra revenue helps bring positive change to the industry and not on something like this:

nar-executive-car

photo credit

As the son of two music teachers, Ben spent his first 21 years trying to make a living with his slightly above average trumpet playing. After no return calls from Dizzy Gillespie and then a failed attempt at becoming a fly girl on "In Living Color," he switched gears and finally found his nichè in real estate. He's a Minnesota appraiser and also a Realtor with his better half, Stacia. Labeled “one to watch” from an anonymous source (thanks mom), Ben is smart, good looking, athletic and a rock star inside his own head. He also never passes up a chance to write his own bio. Find him online at twitter or selling Stillwater Real Estate.

Continue Reading
Advertisement
23 Comments

23 Comments

  1. Louise Scoggins

    May 20, 2009 at 11:44 am

    Hi, Ben! My office also has a deal worked out with R.com to offer showcase listings on all of our listings. I think we pay around $200 (each) for the year for an unlimited amount of listings being uploaded. Hopefully that means they are offering some sort of group discount and not making hand over foot from C21 and Realty Alliance 🙂 Good post, I look forward to reading more!

    Oh, and ummmm…LOVE your bio. Hilarious!!!

  2. Ken Brand

    May 20, 2009 at 3:08 pm

    Welcome Ben. Looking forward to hearing more from you.

    And I must confess, that pimped ride pic is money dude. Let’s be honest, you’d never lose a listing appointment if you rolled up in that plated bling machine. Cheers.

  3. Matthew Rathbun

    May 20, 2009 at 4:27 pm

    Welcome, Ben!

  4. Benn Rosales

    May 20, 2009 at 4:37 pm

    I was concerned about the context of the post, however, I was more concerned that a R was pimping that bling mobile- had to click thru to see who really owned the car haha

    I guess we should expect to see awesome things from r.c over the next year with this phat cash injection, but somehow I doubt it.

    Where does the money go exactly? Anyone know?

  5. Ben Goheen

    May 20, 2009 at 4:51 pm

    @Louise – Is the $200 fee mandatory? Did NAR strike a deal with all of the KW offices or just yours?

    @Ken – Thanks for the welcome. In my neck of the woods homeowners would probably think I don’t need the money if I drove that car. I can’t even imagine how careful I’d be washing it…

    @Matthew – Thanks for the welcome also, and for following me on twitter

    @Benn – The power of Photoshop my friend. I doubt we’ll see any new bells and whistles on r.c either. These deals might help the loss in revenue due to agents cutting back on expenses.

  6. Jason Sandquist

    May 20, 2009 at 5:39 pm

    I see how it goes… When you wanted to snap a few pics of my ride I had no idea this is how you would use it

  7. Ken Montville - The MD Suburbs of DC

    May 20, 2009 at 5:55 pm

    Welcome, Ben.

    Nice ride not withstanding, I wonder what the comparison would be for, say, Google AdWords or for the new iteration of Home Values (now called Market Leader, I think). I have both the Showcase Listing Enhancement and the Featured Listing deal which gives me a slot at the top of the zip code I want to purchase (the Featured spot also has a # of listings and price of listings in the zip code type pricing formula)

    From my point of view, it’s about the clicks and the eyeballs. If I get the drift of your post, I’m guessing you might be suggesting that Realtor.com et.al are getting tons more than the product is actually worth on the backs of hard working Realtors’ hard earned marketing dollars.

    Maybe so. Any more than any other marketing scheme?

    Inquiring minds want to know!

  8. Paula Henry

    May 20, 2009 at 8:31 pm

    Hi Ben and welcome! Even at $200. a year, I’m not sure I would participate. Somehow – I don’t believe r.com will be using their new funds to help the realtor on the street.

  9. Matthew Rathbun

    May 20, 2009 at 9:41 pm

    BTW – Realtor.com is owned by Move. NAR most likely did not receive the money. They just get the royalty for licensing the “realtor” name to Move.

  10. Kim Wood

    May 20, 2009 at 9:48 pm

    Welcome, Ben ! I look forward to seeing some more picture humor outta you 😀

  11. Matt Stigliano

    May 20, 2009 at 10:09 pm

    Ben – Good to see your first AgentGenius post. I think the major cash outlay from these companies will just go to hire more telemarketers for Realtor.com so they can call me more often to see how much money I’m willing to give up.

  12. Ben Goheen

    May 20, 2009 at 11:01 pm

    Thanks everyone for the warm welcome. Lani was right, it is like a family here.

    @Jason – everyone knows THIS is actually your car: https://is.gd/BSU9

    @Ken – Obviously there’s a markup involved, as there is with any marketing service. At least with AdWords you’re in complete control of the cost and placement

    @Matthew – Good point about Move owning r.com. My guess is that somehow NAR is reaping the rewards here, kind of like an reverse Peter Pan scenario

    @Matt – Fight the temptation! It can’t be any harder than hanging up on the telemarketers who guarantee you top results on Google

  13. Lani Rosales

    May 20, 2009 at 11:29 pm

    For ANYONE putting on a REBarCamp, now you know who to call for sponsorship!!!

  14. Russell Shaw

    May 21, 2009 at 9:39 am

    >Lani was right, it is like a family here.

    A dysfunctional family, Ben. But still, it is very nice to have someone else here who has the whole smart *and* good looking thing going.

  15. Brandie Young

    May 21, 2009 at 11:04 am

    Welcome, Ben! Provocative article. As members, do you not see year-end accounting? At least now we know where the $2M spent on a “hammer” really went!

  16. Jason Sandquist

    May 21, 2009 at 9:17 pm

    @ben yup and then there is that one

  17. Ruthmarie Hicks

    May 21, 2009 at 10:45 pm

    Our Keller Office has a similar arrangement. My sellers are ALWAYS asking for enhanced Realtor.com presence. So I’m glad I can offer it without losing my shirt. My problem with the whole thing is that arrangements like this push small brokerages to the wall. Call me old-fashioned, but I hope that some of the Mom and Pops make it through this morass and area able to thrive. So many went out of business around here. Sad to see them founder.

  18. Lani Rosales

    May 22, 2009 at 9:53 am

    Russ, we can’t take you ANYWHERE! gah! lol

  19. Matthew Rathbun

    May 22, 2009 at 10:11 am

    Lani,

    I took Russ somewhere once, and all he did was use words to describe our waitress (who looked like a 19 year old Sarah Palin), that I didn’t know even existed…. 🙂

    I learned my lesson!

  20. Missy Caulk

    May 22, 2009 at 7:31 pm

    Hi Russ, welcome to Agent Genius. I look forward to getting to know you better.

Leave a Reply

Your email address will not be published. Required fields are marked *

Business Marketing

How a Facebook boycott ended up benefitting Snapchat and Pinterest

(MARKETING) Businesses are pulling ad spends from Facebook following “Stop Hate for Profit” social media campaign, and Snapchat and Pinterest are profiting from it.

Published

on

Phone in hand open to social media, coffee held in other hand.

In June, the “Stop Hate for Profit” campaign demanded social media companies be held accountable for hate speech on their platforms and prioritize people over profit. As part of the campaign, advertisers were called to boycott Facebook in July. More than 1,000 businesses, nonprofits, and other consumers supported the movement.

But, did this movement actually do any damage to Facebook, and who, if any, benefited from their missing revenue profits?

According to The Information, “what was likely crumbs falling from the table for Facebook appears to have been a feast for its smaller rivals, Snap and Pinterest.” They reported that data from Mediaocean, an ad-tech firm, showed Snap reaped the biggest benefit of the 2 social media platforms during the ad pause. Snapchat’s app saw advertisers spending more than double from July through September compared to the same time last year. And, although not as drastic, Pinterest also saw an increase of 40% in ad sales.

As a result, Facebook said its year-over-year ad revenue growth was only up 10 percent during the first 3 weeks of July. But, the company expects its ad revenue to continue that growth rate in Q3. And, some people think that Facebook is benefitting from the boycott. Claudia Page, senior vice president, product and operations at Vivendi-owned video platform Dailymotion said, “All the boycott did was open the marketplace so SMBs could spend more heavily. It freed-up inventory.”

Even CNBC reported that Wedbush analysts said in a note that Facebook will see “minimal financial impact from the boycotts.” They said about $100 million of “near term revenue is at risk.” And for Facebook, this represents less than 1% of the growth in Q3. However, despite what analysts say, there is still a chance for both Snapchat and Pinterest to hold their ground.

Yesterday, Snap reported their surprising Q3 results. Compared to the prior year, Snap’s revenue increased to $679 million, up 52% from 2019. Its net loss decreased from $227 million to $200 million compared to last year. Daily active users increased 18% year-over-year to 249 million. Also, Snap’s stock price soared more than 22% in after-hours trading. Take that Facebook!

In a prepared statement, Chief Business Officer Jeremi Gorman said, “As brands and other organizations used this period of uncertainty as an opportunity to evaluate their advertising spend, we saw many brands look to align their marketing efforts with platforms who share their corporate values.” As in, hint, hint, Facebook’s summer boycott did positively affect their amazing Q3 results.

So, Snapchat and Pinterest have benefited from the #StopHateForProfit campaign. Snapchat’s results show promising optimism that maybe Pinterest might fare as well. But, of course, Facebook doesn’t think they will benefit much longer. Back in July, CEO Mark Zuckerberg told his employees, “[his] guess is that all these advertisers will be back on the platform soon enough.”

Facebook isn’t worried, but I guess we will see soon enough. Pinterest is set to report its Q3 results on October 28th and Facebook on the 29th.

Continue Reading

Business Marketing

Cooler temps mean restaurants have to get creative to survive

(BUSINESS MARKETING) In the midst of a pandemic and with winter approaching, restaurants are starting to find creative and sustainable ways to keep customers coming in… and warm.

Published

on

Outdoor eating at restaurants grows in popularity.

Over the last decade we have seen a change in the approach to clientele experiences in the restaurant business. It’s no longer just about how good your food is, although that is still key. Now you have to give your customers an experience to remember. There are now restaurants that feed you in the dark, and others who require you to check all your clothes at the door. Each of these provides an experience to remember alongside food that ranges from good to exquisite, depending on your taste.

Now, however, the global pandemic has rearranged how we think about dining. We can no longer just shove people into a building and create a delectable meal. If you’ve relied mostly on people coming into your restaurant, you may struggle to survive now.

The new rules of keeping clients safe means setting things up outside is the easiest means of keeping large numbers of them from crowding inside. Because of this, weather has become a key influence in a company’s daily income. Tents that were a gimmick before, only needed by presumptuous millennials, are now a requirement to keep afloat. People are rushing to make their yards into lawns that bring some in some fancy feeling.

The ties to the sun in some areas are so strong that cloudy days have been shown to drop attendance as much as 14% for the day. This will become the more apparent the colder it gets. For me, I always mention hibernation weight in the winter, when all I want to do is curl up and eat at home. Down here in Texas we are already finding cooler weather, drops into the 70s even in August and September. We are all assuming a cold winter ahead. So, a bit of foresight is finding a means of keeping your guests warm for the winter ahead.

San Francisco restaurants have started with heat lamps during their cooler evenings. Fiberglass igloos have also been added to outdoor seating as a means of temperature control. A few places down in the Lonestar state keep roaring fires going for their outdoor activities. While others actually keep you running in between beverages by encouraging volleyball matches. This is the new future ahead of us, and being memorable is the way to go.

Continue Reading

Business Marketing

Healthcare during pandemic goes virtual, looks to stay that way

(BUSINESS NEWS) Employment-based health insurance has already been through the ringer with COVID-19, but company healthcare options are adapting for long term.

Published

on

Stethoscope with laptop, showing healthcare going virtual.

Changes in employment-based health insurance may end up costing employers more, but will provide crucial benefits to workers responding to the healthcare challenges presented by the COVID-19 pandemic.

According to a recent survey by the Business Group on Health, a member-driven advocacy organization that helps large employers navigate providing health insurance to their employees, businesses will increase access to telehealth, mental health resources, and on-site clinics in the upcoming year.

Besides the obvious impacts of the coronavirus itself, the effects of the COVID-19 pandemic have also rippled out to affect other aspects of public health and how we engage with medical care. With so many people staying home to reduce their in-person contacts, there has been a significant increase in the use of telehealth services such as virtual doctor’s visits. According to the survey from Business Group on Health, whose members include 74 Fortune 100 companies, more than half of large employers will offer more options for virtual healthcare in the upcoming year than in the past.

The pandemic, resulting economic fallout, and dramatic changes to our lives have inevitably exacerbated peoples’ anxieties and feelings of hopelessness. As we move into cold weather, with no end in sight to the need to socially distance, this promises to be a particularly dreary, lonely winter. Mental health support will be more necessary than ever. In 2019, 73% of large employers provided virtual mental health services. That number will increase to 91% next year, with 45% of large employers also expanding their mental health care provider networks, making it easier for employees to find the right the therapist or other mental health service provider, and making it easier to access those services from home, virtually.

In addition, there will be a 20% increase in employers offering virtual emotional well-being services. Altogether, 9 out of 10 of the employers surveyed will provide online mental health resources, which, besides virtual appointments, could also include apps, webinars, and educational videos.

There has also been a slight increase the availability of on-site clinics that provide coronavirus testing and other basic health services. This also included an expansion of resources for prenatal care, weight management, and chronic health problems such as diabetes and cardiovascular disease.

These improvement won’t come free of charge. While deductibles will remain about the same, premiums and out-of-pocket costs will increase about 5%. In most cases, employers will handle these costs, rather than passing them on to employees.

Continue Reading

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!