Use some of Google’s muscle for keyword research
Welcome back, hope you had a safe and enjoyable holiday break. My wife and I used our time to put in new kitchen counters and tile….but, that’s a whole other post. Let’s get to today’s SEO Tip.
Keyword research can be both intimidating and time consuming, but why should YOU do all the heavy lifting? Google has a fantastic tool made specifically for doing keyword research. And…. IT’S FREE! Of course, they hope you’ll use it for an AdWords campaign and send them some money in return, but that’s not required.
It’s not only free, it’s simple. Seriously simple. In just a few minutes you can have a pretty decent and reliable list of keywords you can use to start optimizing your site.
You’ll also need some kind of spreadsheet or database tool – Excel works great. You can use this process without a spreadsheet, but don’t hold me responsible if your brain explodes inside your skull.
Let’s get started by going to the tool – open up your favorite Web browser – I’ll be using Netscape for my screen shots. Go to: https://adwords.google.com/select/KeywordToolExternal Don’t panic when you see it talking about AdWords – you won’t need to give Google any money (they have enough already).
In the center column, enter a search phrase you think people might use to find your site. I used “austin real estate”. You may or may not see the captcha image, depending on if you are logged in to a Google account or not (I use netscape when I don’t want to log in and have Google know everything I’m doing). Leave the “Use synonyms” box checked. Click on the button labeled “Get keyword ideas” and let the magic begin!
In just a few seconds you are presented with a list of potential keywords. The default screen will show you three data columns (along with the keywords):
- Advertiser Competition
This bar is a relative gauge as to how many AdWords accounts are bidding on this phrase. The more green it is, the more competition you’re likely to have for that phrase. Both in the paid and organic listings. That does NOT mean you shouldn’t use those words/phrases for your site, just expect that you’ll have to fight for every click you get.
- Local Search Volume
For many of your sites, this is probably the most important column. Google is able to locate (reasonable well) where people are located when they search for things – and where YOU are when you run the tool. This column tells us approximately how many searches were conducted in a recent month for each word or phrase, in the same geographic area as you are in. We’ll probably pick several phrases from both ends of this column before we are done – I’ll explain more later.
- Global Search Volume
This column indicates how many times (based on a monthly average) a phrase has been used from all over the world. This could be very important to know for some phrases. In my list, the phrase “moving to austin” is searched an average of 2,900 times a month, “austin lease” is searched roughly 4,000 times. If I was a Realtor you can bet I would give some thought to targeting those phrases.
Cleaning the List
The list Google gives us is not bad, but it certainly has some words and phrases that really are not worth our time. This is where Excel comes into play. Scroll down to the bottom of the page and click on the “export to csv” link.
Remove some paid competition
Now we can have some real fun. When you open the file in Excel, you’ll notice that the Advertiser Competition image has been converted into a numeric value ranging from 0 to 1. We’ll start our clean up with this column. Right click it and select “sort, largest to smallest”. Give careful consideration to anything with a value of “1”. Most of the time those words are so generic that that only way you’ll rank for them is if you pay for listings. That eliminated 15 phrases from my list. Carefully review the next several places on your list – are the words too generic for you to compete with the people buying placements? Possibly, but don’t chicken out and delete too many.
Now lets see what phrases are popular near us. Sort the Local Search column from largest to smallest. Not many surprises here. Since this is our first pass through the process, these words are still pretty focused. I had a couple surprises in my results though – two non-geo-targeted phrases are quite busy in the Austin area. Combined, the phrases “ranch homes” and “ranch homes for sale” had more than 225,000 searches in the month of October. That’s worth looking in to.
It can be difficult to determine a cut off point, but carefully review the words near the bottom of this list and delete those that have low search numbers. However – before you delete them, glance over at the Global Search column and make sure it also has low numbers. This removed another 21 from my list. While we are near the bottom, study these phrases carefully. These are probably long-tail phrases with possibly only a few hundred searches a month. Your initial thought might be to not bother going for these and focus only on the phrases with higher numbers. That would be a mistake. People who search with long-tail phrases are (usually) beyond the research phase and are ready to make a commitment. You want those people to find you.
Find strong global words
I suspect that most of you will have at least a few phrases that do better globally than locally…and still apply to your market. Go ahead and sort the Global Search column now. Compare these numbers to the local numbers to see if anything stands out. Like with the local values, review the words near the bottom and delete the few that don’t apply to you, or you feel are not strong enough. This removed another 7 phrases from my list. Yikes – I’m now down to only 46!
Remove ridiculous words
Admittedly, not every word and phrase that Google suggests will make sense for your site. Scan your list and remove those. I deleted “512 austin” from mine.
Lather, Rinse and Repeat
Now it’s time to really let Google flex its muscles. Go back to the first page of the AdWords keyword tool, copy ALL of your remaining words from the spreadsheet and paste them into the keyword/phrase box. Click “Get ideas”
We started with one phrase, jumped up to 90, cleaned out about half, and now we have a list of 200. Repeat this process a few times and before long you’ll have a very accurate, very targeted set of both local and global search words you can use on your Web sites.
More than one road to Rome
If you do this enough times you may eventually end up with list containing every “good” phrase that you should be using, but that could take a lot of time. Instead, go back to step 1 and use a different starting phrase – another one you already think is good but didn’t get found in your first or second trip through this process. For example, the phrase “austin vacation rentals” gave me another 200 phrases I could start reviewing. You can see, it would not be difficult to build up several good lists of keywords.
Now you have no excuse for not using targeted words in your web content, and don’t have to fear pulling a muscle while you gather them. Have fun!
Disputing a property’s value in a short sale: turn a no into a go
During a short sale, there may be various obstacles, with misaligned property values ranking near the top, but it doesn’t have to be a dealbreaker!
It’s about getting your way
Were you on the debate team in high school? Were you really effective at convincing your parent or guardian to let you do things that you shouldn’t have been doing? How are your objection-handling skills? Can you flip a no into a go?
When working on short sales, there is one aspect of the process that may require those excellent negotiation or debate skills: disputing the property value. In a short sale, the short sale lender sends an appraiser or broker to the property and this individual conducts a Broker Price Opinion or an appraisal, using special forms provided by the short sale lender.
After this individual completes the Broker Price Opinion or the appraisal, he or she will return it to the short sale lender. Shortly thereafter, the short sale lender will be ready to talk about the purchase price. Will the lender accept the offer on the table or is the lender looking for more? If the lender is seeking an offer for a lot more than the one on the table, mentally prepare for the fact that you will need to conduct a value dispute.
Value Dispute Process
While each of the different short sale lenders (including Fannie Mae) has their own policies and procedures for value dispute, all these procedures have some things in common. Follow the steps below in order to conduct an effective value dispute.
- Inquire about forms. Ask your short sale lender if there are specific forms that you need to complete in order to conduct a value dispute. Obtain those forms if necessary.
- Gather information. Your goal is to convince the lender to accept the buyer’s offer, so you need to demonstrate that your offer is in line with the value of the property. Collect data that proves this point, such as reports from the MLS, Trulia, Zillow, or your local title company.
- Take photos. If there are parts of the property that are substandard and possibly were not revealed to the lender by the individual conducting the BPO, take photos of those items. Perhaps the kitchen has no flooring, or there is a 40-year old roof. Take photos to demonstrate these defects.
- Obtain bids. For any defects on the property, obtain a minimum of two bids from licensed contractors. For example, obtain two bids from roofers or structural engineers if necessary
- Write a report. Think back to high school English class if necessary. Write a short essay that references your information, photos, and bids, and explains how these items support your buyer’s value. This is not something that you whip up in five minutes. Spend time preparing a compelling appeal.
It is entirely possible that some lenders will not be particularly open-minded when it comes to valuation dispute. However, more times than not, an effective value dispute leads to short sale approval.
Short sale standoffs: how to avoid getting hit
The short sale process can feel a lot like a wild west standoff, but there are ways to come out victorious, so let’s talk about those methods:
What is a short sale standoff?
If you are a short sale listing agent, a short sale processor, or a short sale negotiator then you probably already know about the short sale standoff. That’s when you are processing a short sale with more than one lien holder and neither will agree to the terms offered by the other. Or… better yet, each one will not move any further in the short sale process until they see the short sale approval letter from the other lien holder.
Scenario #1 – You are processing a short sale with two different mortgage-servicing companies. Bank 1 employees tell you that they will proceed with the short sale, and they will offer Bank 2 a certain amount to release their lien. You call Bank 2 and tell them the good news. Unfortunately, the folks at Bank 2 want more money. If Bank 1 and Bank 2 do not agree, then you are in a standoff.
Scenario #2 – You are processing a short sale with two different mortgage-servicing companies. Bank 1 employees tell you that they cannot generate your approval letter until you present them with the approval letter from Bank 2. Bank 2 employees tell you the exact same thing. Clearly, in this situation, you are in a standoff.
How to Avoid the Standoff
If you are in the middle of a standoff, then you are likely very frustrated. You’ve gotten pretty far in the short sale process and you are likely receiving lots of pressure from all of the parties to the transaction. And, the lenders are not helping much by creating the standoff.
Here are some ideas for how to get out of the situation:
- Go back to the first lien holder and ask them if they are willing to give the second lien holder more money.
- Go to the second lien holder and tell them that the first lien holder has insisted on a maximum amount and see if they will budge.
- If no one will budge, find out why. Is this a Fannie Mae or Freddie Mac loan? If so, they have a maximum that they allow the second. And, if you alert the second of that information, they may become more compliant.
- Worst case: someone will have to pay the difference. Depending on the laws in your state, it could be the buyer, the seller, or the agents (yuck). No matter what, make sure that this contribution is disclosed to all parties and appears on the short sale settlement statement at closing.
- In Scenario #2, someone’s got to give in. Try explaining to both sides where you are and see if one will agree to generate their approval letter. If not, follow the tips provided in this Agent Genius article and take your complaint to the streets.
One thing about short sales is that the problems that arise can be difficult to resolve merely because of the number of parties involved—and all from remote locations. Imagine how much easier this would be if all parties sat at the same table and broke bread? If we all sat at the same table, then we wouldn’t need armor in order to avoid the flying bullets from the short sale standoff.
Short sale approval letters don’t arrive in the blink of an eye
Short sale approval letters may look like they’ve been obtained simply by experts, but it takes time and doesn’t just happen with luck.
Short sale approval: getting prepared, making it happen
People always ask me how it is that I obtain short sale approval letters with such ease. The truth is, that while I have more short sale processing and negotiating experience than most agents and brokers, I don’t just blink my eyes like Jeannie and make those short sale approval letters appear. I often sweat it, just like everyone else.
Despite the fact that I do not have magical powers, I do have something else on my side—education. One of the most important things than can lead to short sale success for any and all agents is education.
Experience dictates that agents that learn about the short sale process
have increased short sale closings.
Short sale education opportunities abound
There are many ways to become educated about the short sale process and make getting short sale approval letters look easy to obtain. These include:
- Classes at your local board of Realtors®
- Free short sale webinars and workshops
- The short sale or foreclosure specialist designations
As the distressed property arena grows and changes, it is important to always stay abreast of policy changes that may impact how you do your job and how you process any short sale that lands on your plate.
The most important thing to do is to read, read, read. Follow short sale specialists and those who blog about short sales on AGBeat, Google+, facebook, and twitter. Set up a Google Alert for the term ‘short sale’ and you will receive Google’s top short sale picks daily in your email inbox. Visit mortgagor websites to read up on their specific policies and procedures.
Don’t take on too much
And, when you get a call from a prospective short sale seller, make sure that you don’t bit off more than you can chew. Agents in most of America right now are clamoring for listings since we are in the midst of a listing shortage. But, if you are going to take on a short sale, be sure that it is a deal that you can close. And, if you have your doubts, why not partner up with a local agent that can mentor your and assist you in getting the job done? After all, half a commission check is better than none!
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