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What is Social Media’s Shelf Life?

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Virtual Real Estate

We’ve all heard them… You know, the Brokers and agents who disparage the use of technology and more specifically social media in your business practice. The conversation is something to the extent of “Get from behind that computer and go sell!” To an extent I agree. I know that technology is a good venue by which to obtain clients, but it is not the end all, be all of interacting with the consumer. The nature of humanity dictates that we interact with one another; that we have fellowship and contact with another person. If we’ve found a way to combine this need for interaction and the consumer’s desire to use technology to increase their knowledge base, than fantastic! If you really are hiding behind the computer and thinking that the cash will roll in, than you’ve missed the mark.

Study of Human Nature

Social Media is a great asset to a practitioner who has grasped human nature and is actually able to identify a consumer’s need. It’s not a good tool for those who still think that Real Estate is a get rich quick scheme. It requires time and patience to develop the necessary skills and knowledge base to properly execute any aspect of this business proficiently. It’s important to always be studying and researching what is happening in our culture, what trends are developing and how to be on the tip of the sword when it comes to progress. I feel that this is the key element to technology and Social Media in real estate. Is there a shelf life to Social Media? Yes, there is to every good thing; but we simply don’t know what that shelf life is. For some, Open Houses are still an effective means for connecting with clients. Open Houses have been around for generations.

Look to the Future

My advice is to use the tools of here and now, but don’t get stuck in a rut of what “is”, thinking that it is what you’ll need to master and then skate by for the next 20 years. Below is a video called Vision of Students tomorrow that I sometimes use in technology courses. I use it because the students are telling us how they communicate and some of the struggles they have while in college. Many people watch this video and say that it doesn’t apply, since those “kids” can’t buy… Go look at the demographics of buyers today and you’ll quickly realize that these college students will be your buyers in the next 5-10 years. Practitioners need to be forward thinking and while maintaining business today, also be thinking about what they’ll need for to prepare for tomorrow!


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24 Comments

24 Comments

  1. Ben Martin, CAE

    June 17, 2008 at 8:35 pm

    Social media as we know it will cease to exist eventually, but the consumer expectations it is ushering in will not. Even now I’m wondering what’s next. Perhaps it’s a good thing that I’m becoming somewhat bored by facebook, blogging and twitter.

  2. Chris

    June 17, 2008 at 9:08 pm

    I think we have entered an age of constant change. Those who will not adapt to the changes in society will not succeed. The gap between the haves and haves not, will change to who is technically involved and not involved.
    Spring Hill Real Estate

  3. Jayson

    June 17, 2008 at 11:27 pm

    That’s a good video. I’d say social media is here to stay but that social media will change over the years. It looks like the next step is an all inclusive website with social bookmarking, MySpace/Facebook profile pages, search engines, videos, life management tools and much more.

  4. Frank Jewett

    June 18, 2008 at 1:46 am

    Typical naivete. What are they learning sitting here? They are learning how to learn. How far would anyone here have gotten without the ability to learn? Who here learned by flipping through channels on cable television, which was the internet before there was an internet? What percentage of internet surfers regularly use the internet to learn something of value?

    You could download the entire Java platform in minutes, for free. You could find tutorials and tips that would enable you to implement Java to create your own web applications. Hands up all those who plan to make use of that wonderful, totally free resource any time soon? Me neither. I learn in classroom settings because it helps me focus and it keeps me accountable.

    The internet can be a wonderful aid to learning, providing the information of a thousand libraries in a matter of minutes, but those who confuse the internet with learning haven’t been paying attention. The internet is still more like cable TV (or 900-chat lines) than college. The kids who smiled about the number of Facebook profiles they will read and the pages of emails they will compose are the reason we are no longer competitive as a society. Many of them won’t be able to afford homes because they will have wasted their educational years on social networking instead of learning how to learn.

  5. Jennifer in Louisville

    June 18, 2008 at 4:47 am

    Really comes down to staying ahead of the curve – either you are a real estate leader, a follower, or a non-factor. Do old school techniques still work? Sure. Print ads, open houses, etc still have some success. But if you turn a blind eye toward other options, you are a dinosaur waiting to become extinct.

  6. Matthew Rathbun

    June 18, 2008 at 8:29 am

    Benn – Sorry to hear that you’re getting bored, I thought it might be me. I like Twitter, but honestly I am having issues both reading and writing original posts. I think that writing a local blog is much easier than an industry one. The local areas and growing, changing and gossiping. The industry has the same good and bad points that it’s always had.

    Frank – I too, see them as spoiled brats, but so did the generation before us as they reflected. The issue is that their sphere of influence is evolving just as this class is and they’ll be in a workforce with the same mentalities over time. I think the internet has it’s advantages for relaying information, but I still think a good old fashion classroom with a good instructor is the best learning environment. Even movies and TV shows about the future still have kids sitting in classes together. I just don’t think humans (as a majority) will get over their need for interaction… Good points!

  7. Benn Rosales

    June 18, 2008 at 8:33 am

    Fyi, Ben Martin wrote that comment, not Benn 😉

  8. Matthew Rathbun

    June 18, 2008 at 8:40 am

    Whoops! I actually knew that…. it was force of habit 🙂

  9. Bill Lublin

    June 18, 2008 at 8:42 am

    Provoking Post my Commonwealth Chum! 😉

    When I see things like this I feel really old.

    Not because the conversation is so new, but because it is not. The ONLY thing that is constant is change. And the debate over the new versus the old is part of a dialogue that goes back to Socrates complaining about the kids in Ancient Greece. The more things change the more they stay the same –

    I would disagree with Ben, Social Media is a catch phrase for the use of technology to facilitate a process that is as old as man, and a basic part of our herd instinct – networking and communicating. We can’t confuse the medium with the message (regardless of McLuhan’s comment that the medium is the message)- Whether it be parchment, snail mail, e-mail , twitter, blogging, or telepathy Benn will communicate. Though the medium might change, his desire to know more and share what he knows continues. What we do electronically changes the scope and speed of our communications, but not the content as much. And its the content that is most important. Can anyone tell me that Thomas Paine’s “Common Sense” is less important then this post because it was printed on paper? (Please note the nod to the great Commonwealth of Virginia)Or that the Magna Carta had less impact because it was written on parchment?

    I enjoyed the video, but the concept that something as basic as needing to accept change is new is a pain – even though I think its true – I’m just amazed that everybody isn’t aware of it yet – can’t we get the word out?

  10. Frank Jewett

    June 18, 2008 at 12:34 pm

    Matthew, I realize that throughout history, each generation has complained about the decline of civilization even as civilization kept marching forward. At this point in our history, I see a critical difference. We may still have the best universities in the world, but the young people taking full advantage of those universities are immigrants or the children of immigrants. The ability to use the internet to learn Java is real, but the young people using it that way are in Bangalore, not Boston. If you’re trying to look ahead to your client base ten years from now, look at building bridges to highly skilled, highly paid immigrants, because they will be driving our economy. This will be a challenge for an industry that has historically been led by the perspective of old, white men.

  11. Bob

    June 18, 2008 at 1:04 pm

    We may still have the best universities in the world, but the young people taking full advantage of those universities are immigrants or the children of immigrants.

    That has always been the case. We are a nation of immigrants.

  12. Frank Jewett

    June 18, 2008 at 1:11 pm

    Bob, I think you’ll find the split towards immigrants and first generation children of immigrants is more dramatic now than it has been in decades. The post-boomer generations have been complacent.

  13. Bob

    June 18, 2008 at 1:40 pm

    Frank, I think complacent is an apt description. We tend to expect opportunity to land in our lap while others seek it.

    Confucius say, “Man who wait for Peking Duck to fly into mouth will soon starve.”

    I think this applies to the narrow 2.0 mindset of some agents as well. The one that says “If I blog, they will come”.

  14. Frank Jewett

    June 18, 2008 at 4:31 pm

    Bob, several local brokers have expressed frustration with agents whose marketing plan consists of a website and/or blog and waiting patiently by the phone.

  15. Missy Caulk

    June 18, 2008 at 6:24 pm

    Matt, that is a powerful video. As a mother of 3 in college…I would have to agree with alot of it, especially buying those 100 and 200 text books that rarely get opened. Then sell on Amazon for 1.2 price.

  16. Bill Lublin

    June 18, 2008 at 6:43 pm

    We may still have the best universities in the world, but the young people taking full advantage of those universities are immigrants or the children of immigrants.

    SO three out of four of my my Grandparents were immigrants –
    Their children, went to those colleges, My Mom – Pennslyvania College of Optometry, her sisters , University of Pennsylvania, Derexel University,
    Their Children, Penn State, Pennsylvania Academy of Fine Art, Rutgers, Temple University, Princeton University, University of Pennsylvania (again) (and married two immigrants who also attended those schools)
    Their Children; Yale, Princeton, Syracuse, ….
    I think I can stop… these immigrants provided several Doctors, Lawyers, Economists, Business Owners, Professors, Artists, – So what’s the point when you say

    look at building bridges to highly skilled, highly paid immigrants, because they will be driving our economy

    What is new or insightful about that ? The immigrants and children of immigrants in my family helped drive the economy. With the exception of the Native American Population who isn’t an immigrant here? (And even they may have migrated from Asia over the land bridge) –
    Tacky Frank – just tacky

  17. Frank Jewett

    June 19, 2008 at 3:46 am

    Bill, I was referring only to the first generation of immigrants and their children, not every single generation that ever descended from an immigrant. You also seem confused about my purpose, which wasn’t to criticize or denigrate immigrants, but to point out that more recent immigrants are driving the economy.

    Here in Santa Clara County we have a very diverse population. Our organized real estate community is also diverse with Asian, Indian, Hispanic, and other affiliate groups modeled along the lines of affiliate groups like the Woman’s Council of Realtors.

    In my time in the industry, several people have privately questioned the purpose of these affiliate groups, posing the rhetorical question “What would they say if we formed a white men’s association of Realtors?”

    I didn’t have the nerve to point out that such organizations have existed for decades, from NAR to the state and local AORs. Affiliates like WCR formed because the needs of their membership were being ignored by the old white men running the business.

    Perhaps it has gotten better, but insiders tell me that we still have a long way to go and I believe it because the rhetorical question above is a direct quote I’ve heard on more than one occaision.

    What does this have to do with my earlier comments?

    Old attitudes about other cultures aren’t going to be competitive in the 21st century, at least not here in Santa Clara County. People who look down their noses at Asians, Indians, and other recent immigrants are going to be missing out on some of the most talented and successful members of our society.

  18. Bill Lublin

    June 19, 2008 at 3:56 am

    @Frank;
    Point taken – (I unruffle my feathers and apologize for the misunderstanding) – And I would agree with you, but I think that the “New Americans” have always had the best work ethics, because they usually come from harsher environments, and may not have had the opportunity to improve their situations before. Perhaps they are just more appreciative of what a wonderful place we live

    I agree with your comment about Associations. I belong to NAHREP as well as NAR (no I’m not Hispanic, but you don;t need to be to join, I’m just supportive of Hispanichome ownership – Helck – I think everyone should own real estate) The Greater Philadelphia Association of REALTORS is a charter member of NAR founded in 1908. In my time I have seen the first Female President and the First African American President (whose term was the year before mine IN THE 1990’S). And thank Goodness things have gotten some better – but there are savants and fools of every type-

    Guess we just need to keep working at- But it was fun trying to remember everyone’s schools and brag on the family a little bit 😉

  19. Frank Jewett

    June 19, 2008 at 4:04 am

    Here’s the citation I couldn’t find when I first responded to this post:

    “Two-thirds of the Ph.D.s in engineering awarded by U.S. universities went to non-U.S. citizens.” – Forbes

    Tying it back together, the attitude depicted in the video above is not the attitude of an over-achiever being held back by an antequated educational system, but rather the attitude of the spoiled brat who hasn’t made the connection between the ability to learn and the ability to achieve. Such people may well spend a disproportionate amount of their time on Facebook. They are falling behind.

    Am I disappointed? Nope. It’s human nature.

    I’m grateful that immigrants still see this country as the land of opportunity. We need their desire because our own is lacking, as shown by the statistic above. The forward thinking Realtor should spend as much time developing an appreciation for other cultures as she or he does learning how to blog and tweet.

  20. Frank Jewett

    June 19, 2008 at 4:14 am

    Bill, I’m sorry I didn’t take the time to find the Forbes quote when I first responded. It probably would have helped illustrate what I was talking about. My great grandfather used to say “shirt sleeves to shirt sleeves in three generations”, which was his way of describing how work ethic leads to opportunity which leads to success which leads to complacency over the course of a few generations. When I looked at that video, I saw ignorance and complacency. College isn’t about learning to sit in a seat, it’s about learning how to study, analyze, and learn because your ability to do those things will determine your success over the course of your life.

  21. Bill Lublin

    June 19, 2008 at 5:07 am

    Frank – Your Great Grandfather was a smart guy! And I agree completely with your analysis of the college opportunity, but let’s not forget the rest of the experience – football, bars, and parties (I was the Penn State guy obviously!)
    😀

  22. Jay Thompson

    June 19, 2008 at 7:28 am

    Thought I’d add something deep and profound to the conversation here:

    That video kicks ass.

  23. Sue

    June 20, 2008 at 7:50 am

    That was a good video… Obviously those kids are future home buyers and look how they spend their time! I believe its important to keep up with technology. Some of the old school ways work, but the real estate future seems to be constantly changing and evolving. The statistics and comparisons were interesting, really makes you think. I think I got lots more sleep than 7 hours when i was that age…Sad that only 18% of teachers knew the kids name.

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Business Marketing

10 must-listen-to podcasts for business owners

(MARKETING) If you’re a business owner and want to learn something…anything…give one (or all) these podcasts a listen.

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As podcasts grow more and more popular, it has become increasingly difficult to sort through the sea of excellent options out there.

From interviews with business leaders to industry-specific advice from experts, podcasts are an incredible free and convenient way to get a small dose of inspiration and knowledge.

This short list offers just a taste of the myriad of business podcasts available. Whether you’re an aspiring entrepreneur looking for some tips on breaking into a new industry or a seasoned vet hoping to get some new inspiration, we hope you’ll find something here worth listening to.

How I Built This, hosted by Guy Raz.

Podcast fans will recognize Guy Raz’s name (and voice) from TED Radio Hour. While that show can be a great source of inspiration for businesses, one of the most consistently inspiring shows is his new project that shares stories and insight from some of the biggest business leaders in the world. In just four months, Guy has talked to everyone from Richard Branson and Mark Cuban to L.A. Reid and Suroosh Alvi. While there are plenty of excellent interview-driven shows with entrepreneurs, if you want to hear about the world’s best known companies, this is your best bet.

The Art of Charm, hosted by Jordan and AJ Harbinger.

The Art of Charm is a business podcast by definition, but the advice it provides will definitely help you in other parts of your day-to-day life as well. With over three million listens a month, the incredibly popular show provides advice, strategies and insight into how to network effectively and advance your career and personal life.

StartUp, hosted by Alex Blumberg and Lisa Chow.

If you’re an entrepreneur, there is no excuse not to be listening to StartUp, the award-winning business podcast from Gimlet Media. The show’s talented hosts come from incredible radio shows like Planet Money and This American Life and bring a top-notch level of storytelling to the show, which provides behind the scenes looks at what it is actually like to start a company. Now on the fourth season, StartUp is one of those business podcasts that even people not interested in business will get a kick out of.

The Whole Whale Podcast, hosted by George Weiner.

One of the best things about podcasts is the wide variety of niche shows available that go in-depth into fascinating topics. One of those shows is the Whole Whale Podcast, which shares stories about data and technology in the non-profit sector. You’ll get detailed analysis, expert knowledge and can hear from a long list of social impact leaders from Greenpeace, Change.org, Kiva, Teach For America, and more.

Social Pros Podcast, hosted by Jay Baer and Adam Brown.

Navigating the surplus of social media guides online can be a nightmare, so look no further than Social Pros. Recent episodes talk about reaching college students on social media, the rise of messaging apps, and making better video content for Facebook. Plus, there are great case-studies with companies doing social right, like Kellogg’s, Coca Cola and Lenscrafters.

Entrepreneur on Fire, hosted by John Lee Dumas.

One of the original entrepreneurship shows, Entrepreneur on Fire has logged over 1,500 episodes with successful business leaders sharing tips, lessons and advice learned from their worst entrepreneurial moments. Sometimes humorous, sometimes heartbreaking, always inspiring, this show is sure to have at least one interview with someone you can learn from.

The $100 MBA, hosted by Omar Zenhom.

Think of The $100 MBA as a full-fledged business program in snack-sized portions. The daily ten minute business lessons are based on real-world applications and cover everything from marketing to technology and more. Cue this show up on your commute to or from work and watch your knowledge grow.

This Week in Startups, hosted by Jason Calacanis.

This is your audio version of TechCrunch, Gizmodo, or dare we say The American Genius. Each week, a guest entrepreneur joins the show to talk about what is happening in tech right now. You’ll get news about companies with buzz, updates on big tech news and even some insider gossip.

The Side Hustle Show, hosted by Nick Loper.

This is the show if you want answers for the big question so many entrepreneurs face. How do I turn my part-time hustle into a real job? Featuring topics such as passive income ideas, niche sites, and self-publishing, host Nick Loper is upfront and honest about the tough world of side hustles. The show features actionable tips and an engaging energy, and may just be that final push you need to grow your gig.

Back To Work, hosted by Merlin Mann and Dan Benjamin.
Focused on the basics that you don’t think about, Back To Work looks deep into our working lives by analyzing things like workflow, email habits and personal motivation. Somewhere between self-help, and business advice, Back To Work takes on a new topic relating to productivity each week.

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Business Marketing

Why your coworkers are not your ‘family’ [unpopular opinion]

(MARKETING) “I just want you to think of us as family,” they say. If this were true, I could fire my uncle for always bringing up “that” topic on Thanksgiving…

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family coworkers

The well-known season 10 opener of “Undercover Boss” featured Walk-On’s Bistreaux & Bar. Brandon Landry, owner, went to the Lafayette location where he worked undercover with Jessica Comeaux, an assistant manager. Comeaux came across as a dedicated employee of the company, and she was given a well-deserved reward for her work. But I rolled my eyes as the show described the team as a “family.” I take offense at combining business and family, unless you’re really family. Why shouldn’t this work dynamic be used?

Employers don’t have loyalty to employees.

One of the biggest reasons work isn’t family is that loyalty doesn’t go both ways. Employers who act as though employees are family wouldn’t hesitate to fire someone if it came down to it. In most families, you support each other during tough times, but that wouldn’t be the case in a business. If you’ve ever thought that you can’t ask for a raise or vacation, you’ve probably bought into the theory that “work is a family.” No, work is a contract.

Would the roles be okay if the genders were reversed?

At Walks-Ons, Comeaux is referred to as “Mama Jess,” by “some of the girls.” I have to wonder how that would come across if Comeaux were a man being called “Daddy Jess” by younger team members? See any problem with that? What happens when the boss is a 30-year-old and the employee is senior? Using family terminology to describe work relationships is just wrong.

Families’ roles are complex.

You’ll spend over 2,000 hours with your co-workers every year. It’s human nature to want to belong. But when you think of your job like a family, you may bring dysfunction into the workplace.

What if you never had a mom, or if your dad was abusive? Professional relationships don’t need the added complexity of “family” norms. Seeing your boss as “mom” or “dad” completely skews the roles of boss/employee. When your mom asks you to do more, it’s hard to say no. If your “work mom or dad” wants you to stay late, it’s going to be hard to set boundaries when you buy into the bogus theory that work is family. Stop thinking of work this way.

Check your business culture to make sure that your team has healthy boundaries and teamwork. Having a great work culture doesn’t have to mean you think of your team as family. It means that you appreciate your team, let them have good work-life balance and understand professionalism.

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Business Marketing

Market your side hustle with these 6 tips

(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 paperwork and technology

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.

Reuben Jackson of Big Think shared five ways that you can market your side hustle (we added a sixth tip for good measure), and comment with your thoughts and ideas on the subject:

  1. Referrals: Don’t Be Afraid to Ask!
    If you’re going to make a splash, you have to be willing to ask for favors. Reach out to your network and ask them to help spread the word on your new venture. This can be as simple as asking your friends to share a Facebook post with information that refers them to your page or website. Word of mouth is still important and incredibly effective.
  2. Start Where You Are
    Immediately running an expensive ad right out of the gate may not be the most effective use of your (likely) limited funds. Use the resources you do have to your advantage – especially if you’re just testing things out to see how the side hustle goes in the real world. You can do this by creating a simple, informational landing page for a small fee. Or, if you’re not looking to put any money into it right away, create an enticing email signature that explains what you do in a concise and eye-catching way. Check out these tools to create a kickin’ email signature.
  3. Gather Positive Reviews
    If you’ve performed a service or sold a product, ask your customers to write a review on the experience. Never underestimate how many potential customers read reviews before choosing where to spend their money, so this is an incredibly important asset. Once a service is completed or a product is sold, send a thank you note to your customer and kindly ask them to write a review. Be sure to provide them with links to easily drop a line on Yelp or your company’s Facebook page.
  4. Be Strategic With Social
    It’s common to think that you have to have a presence on all channels right away. Start smaller. Think about your demographic and do some research on which platforms reach that demographic most effectively. From there, put your time and energy into building a presence on one or two channels. Post consistently and engage with followers. After you’ve developed a solid following, you can then expand to other platforms.
  5. Give Paid Marketing A Shot
    Once you’ve made a dollar or two, try experimenting with some Facebook or Twitter ads. They’re relatively cheap to run and can attract people you may not have otherwise had a chance to reach out to. Again, the key is to start small and don’t get discouraged if these don’t have people knocking your door down; it may take trial and error to create the perfect ad for your hustle.
  6. Go Local
    Local newspapers and magazines are always looking for news on what local residents are doing. Send an email to your town/city’s journal or local Patch affiliate. Let them know what you’re up to, offer yourself for an interview, and give enticing information. The key is doing this in a way that your hustle is seen as beneficial to the public, and is not just an ad.

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