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RealtySpace Calls No Commission Listings Superior

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RealtySpace.com Says No Commission Listings Smarter


Press Release Fail

This is the actual press release in its full glory (my notes will be at the end and all bolds in the release are emphasized by me):

A recognized leader in no commission online FSBO real estate listings, RealtySpace.com is breathing new life into the sluggish real estate market.

Boca Raton, Fla. (PRWEB) October 29, 2008 — Free, no commission For Sale by Owner (FSBO) listings on RealtySpace.com are not just effective, according to two recent studies, FSBO listings make good economic sense. RealtySpace.com is now offering no commission home sales listings free.

Recent studies are clear. For Sale by Owner (FSBO) real estate listings mean sales that are much more profitable for sellers than conventional brokered listings. In September 2008, Consumer Reports concluded that home sellers who sold their homes without a real estate agent received more money for their home than sellers who used a real estate agent, both by paying no commissions and by receiving a higher selling price. This echoes the findings of researchers at both Stanford University and Northwestern University. Since there are no commissions owed when selling a property without a broker, sellers keep on average $18,000 more on a $200,000 home.

Furthermore, for home sellers, Internet-based real estate listings are extremely effective. According to figures provided by the National Association of Realtors, 84 percent of home buyers use the web as part of their home search. Listing a For Sale by Owner (FSBO) home on RealtySpace.com can only help.

Each real estate listing on RealtySpace.com has no commissions, but an impressive set of perks. Online listings may be accompanied by an attractive yellow sign emblazoned with an eye-catching ‘no commission’ notice. Each real estate listing can be accompanied by a slideshow of up to nine photos and can quickly and easily be turned into a printed flyer for even greater word of mouth on a For Sale by Owner real estate listing. On RealtySpace.com, buyers and sellers can communicate directly, with no middleman to get in the way.

To see no commission For Sale by Owner (FSBO) real estate links or to begin listing a home for sale, visit RealtySpace.com today.

That’s Not Press, That’s Propaganda

Let me start by saying that I have no problem with FSBO sites themselves, it’s a debate that’s been hashed and has nothing to do with the topic at hand. That said, I’ve bulleted each of the highlighted areas above and insert my notes:

  1. “according to two recent studies” – uh, what studies? You know how to use html to code in links all over the place to your site, but there’s no source for these so I’m just confused. Were they studies you did by asking the baristas at Starbucks what they thought?
  2. “good economic sense” – still, that’s a pretty subjective statement regarding a potential study that we don’t have access to nor does it have a name. Just sayin’.
  3. “Recent studies are clear” – see #1.
  4. “much more profitable for sellers” – see #2.
  5. “Consumer Reports” – see #1. Don’t worry, I found the report for you and it’s funny that the article was about negotiating commissions, not about not using an agent…
  6. “Stanford University and Northwestern University” – sweet, we have a name for it, no links… I was unable to locate these studies, so it’s just a guess that they exist.
  7. “attractive yellow sign” – I may be alone here, but this goes back to the subjectivity of #2.
  8. “get in the way” – once upon a time, there was a company named after a fish that played the “Realtors are bad” disruption card and they seem to be a traditional brokerage with a sophisticated IDX search function and extra admin staff. Disruption- been there, done that.

Could RealtySpace damage the real estate industry? Given their web traffic and poorly written press release, I doubt it.

I read a lot of press releases and come across many that are more propaganda-like opinion rather than simple news releases (which is typically what is to be expected of a press release). This one caught my eye first because I’ve never heard of RealtySpace but also because after a few lines, I noted several unsourced “studies.” I’m sure they’re a fine company, but at a minimum, they need some serious help with their press releases.

via: prweb
image via: flickr

Lani is the Chief Operating Officer at The American Genius - she has co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

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12 Comments

12 Comments

  1. Ben Goheen

    November 1, 2008 at 10:45 pm

    Hey Lani, here’s the Northwestern study. Who’s the genius now?

  2. Ryan Hukill

    November 1, 2008 at 10:45 pm

    I could go on all day tearing their ‘facts’ apart, but, honestly, I tire of arguing why FSBOs rarely work out to the seller’s advantage. However, I will say they need some help with their math. I don’t know too many agents making $18K on a $200K house.

  3. Lani Anglin-Rosales

    November 1, 2008 at 10:57 pm

    Ben– see, you just proved how simple it would have been for a link to be included- that took you what, two minutes?

    Ryan– well like I said, it’s not about a FSBO argument (which has already been beat to death publicly) but it is about their word choices. I’m not a Realtor but I would love $18k on a $200k house… also: a self-sufficient pony, PINK mittens, and a gallon of cookie dough ice cream served to me every morning in a golden bowl.

    The point is that we’re to assume that the unsourced “studies” are factual and we are left to research the named studies on our own for any semblance of context. Also, disruption is a game play we’ve seen fail.

  4. Jay Thompson

    November 2, 2008 at 12:39 am

    Here is the link to the Stanford report.

    This report is often offered up by pro-FSBO arguments (and stunningly, rarely linked to).

    It is lengthy, and for the most part concludes that real estate agents don’t usually “add value”, but concedes that homes sold by agents are usually sold faster (which does have a value, but that isn’t mentioned).

    What the pro-FSBO arguments never seem to mention is the fundamental flaw in the Stanford report — that being that the home sales studied were limited to homes on the Stanford campus, and that they are only available for purchase by the Stanford faculty and some senior staff. Comparing this closed “market” to the open market of the general public and extrapolating conclusions from this limited and exclusive market is ludicrous.

    The Stanford homes are limited, and can only be bought by a very limited subset of the general population.

    If you own a home on the Stanford campus, and you can only sell it to other Stanford faculty, it’s not difficult (at all) to canvas and solicit your entire potential buyer base and sell the home yourself.

    Of course most people reading this “news” from RealtySpace aren’t going to take the time to find the Stanford report or read and critically analyze it’s 23 pages. They are going to blindly believe a “news source”.

    I haven’t read the 37 page Northwestern report, so I can’t comment on that. I’d bet a lot of money though that no one at RealtySpace read it either. My money would be on them reading some “summary” of it before “citing” it.

  5. Paula Henry

    November 2, 2008 at 5:58 am

    Lani –

    According to the Northwestern study, a home listed with a REALTOR, on the MLS, sells quicker. But…they say, not for more money. So what do you call the extra months of house payments, electric bills, insurance, etc. I’m guessing it’s not money???

  6. Steve Simon

    November 2, 2008 at 6:54 am

    This just in, “Eat whatever you want! Eat as much as you want! No exercise! Lose weight while you sleep!” $29.95 for a 30 day supply (plus shipping and handling).
    “Guaranteed to work or your money back (less shipping and handling)”
    http://www.ibelieveanything.com
    shipping and handling $39.95 western union money wire only…

  7. Missy Caulk

    November 2, 2008 at 7:24 am

    I’m sure the sellers that are able to sell to net more money, but problem is you can’t find those FSBO sites.

    Listing one in January, I told them to wait that has been on FSBO site for months. I couldn’t find it, so they sent me the link. How could a consumer find it?

    One photo, no description, wrong area.

  8. Mariana

    November 2, 2008 at 9:11 am

    This report is irresponsible – and misleading. However, it is more of an ad than a report, so it doesn’t bother me too much.

    Anyway, there are WAY too many home sellers out there who are not interested in taking on the sale of their home on their own – way too many folks who know the value of being professionally represented.

    If there is someone that wants to sell FSBO – then go for it, and I am glad that there are online services to help them.

    Just know that I am not going out of my way to show that home to my buyers, as I am not interested in being liable for BOTH sides of a transaction where ONE party isn’t even licensed, and I’m not get paid on top of that? Not interested. – Just how I choose to do business.

    However, if my Buyer WANTS a FSBO, I know that I will clobber a non-represented Seller – just like I would clobber a poorly-represented Seller, all in the name of the best-interest of my Buyer client.

    …just sayin’

  9. Jamey Prezzi

    November 2, 2008 at 4:05 pm

    What I found funny is how they use statistical data from NAR to promote their own product.

    Nice.

  10. Vicki Moore

    November 3, 2008 at 12:49 pm

    The FSBO process works for a limited number of people in a specific type of market – just like the two studies quoted.

    Shuffling paper is one thing. Negotiating is another. Clobber is a pretty good word for it.

  11. Jim Gatos

    November 6, 2008 at 2:16 pm

    I just put o deposit a “FSBO” listing and I am dealing with an idiotic seller and a dumb lawyer. The seller signed the P&S and then turns around and says “I didn’t know what I was signing..” UH, DUH, why did you sign it?

    I “cringe” in situations like that…

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Social Media

*New* TikTok Insights launch: Content creators finally get audience analytics

(SOCIAL MEDIA) The popular short-form app, TikTok, finally launches the anticipated Insights feature, where content creators can view target audience data.

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Two girls filming on TikTok.

Marketers searching for the zeitgeist which means TikTok scrollers pause to watch their content and then click through to buy a product have a new tool to help make that happen.

  • TikTok Insights offers marketers bite-size bits of user demographic information that will help build content that leads to sales.
  • With TikTok Insights you can learn more about your audience’s behavior, their interests, and their general sentiment toward brands.
  • TikTok Insights is free to use. Marketers can find TikTok user demographics by using filters to determine what they’re looking for.

The demographic info can be age-focused, focused on specific types of marketing, or even as specific as holiday or event marketing.

This is a step in the direction marketers have been asking for as they create content for the TikTok platform; however, creators looking for detailed analytics like they get from meta need to wait. Insights doesn’t offer that for now.

Like TikTok says in its own analytic information,

“While analytics are helpful in understanding the performance of your videos, you don’t need to create future videos based primarily around them. It’s best to consider the bigger picture, lean lightly on analytics, and use them as a source for insight rather than strategy.”

Marketers trying to key into reaching TikTok’s billion users worldwide are left, right now, searching for the magic that leads to consumers making the jump from the platform to using their purchasing power.

For marketers that means keeping things creative and collaborative, two key factors in TikTok’s success. And that success is huge. Users spend an average of 52 minutes on the platform when they log in and a staggering 90% of users say they log on every day.

TikTok Insights will help marketers find ways to connect, but the content TikTok is looking for is authentic.

And while entrepreneurs can bid for advertising like other social media platforms, they need to remember when planning that spend, that most TikTok marketing success stories are more accidental than planned. Have fun with that knowledge. Instead of pressure to create the perfect plan, TikTok Insights allows marketers to keep it creative and to find a way to tie it into what they enjoy about the platform.

Like all other social media marketing, focus on creating content that stops the consumer from their continual scroll. Make it a challenge and keep it real.

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Social Media

Grindr got busted for selling users’ data locations to advertisers

(SOCIAL MEDIA) User data has been a hot topic in the tech world. It’s often shared haphazardly or not protected, and the app Grindr, follows suit.

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Grindr on phone in man's hands

If you’re like me, you probably get spam calls a lot. Information is no longer private in this day and age; companies will buy and sell whatever information they can get their hands on for a quick buck. Which is annoying, but not necessarily outright dangerous, right?

Wrong.

Grindr has admitted to selling their user’s data, however, they are specifically selling the location of their users without regard for liability concerns. Grindr, a gay hook-up app, is an app where a marginalized community is revealing their location to find a person to connect to. Sure, Grindr claims they have been doing this less and less since 2020, but the issue still remains: they have been selling the location of people who are in a marginalized community – a community that has faced a huge amount of oppression in the past and is still facing it to this day.

Who in their right mind thought this was okay? Grindr initially did so to create “real-time ad exchanges” for their users, to find places super close to their location. Which makes sense, sort of. The root of the issue is that the LGBTQAI+ community is a community at risk. How does Grindr know if all of their users are out? Do they know exactly who they’re selling this information to? How do they know that those who bought the information are going to use it properly?

They don’t have any way of knowing this and they put all of their users at risk by selling their location data. And the data is still commercially available! Historical data could still be obtained and the information was able to be purchased in 2017. Even if somebody stopped using Grindr in, say, 2019, the fact they used Grindr is still out there. And yeah, the data that’s been released has anonymized, Grindr claims, but it’s really easy to reverse that and pin a specific person to a specific location and time.

This is such a huge violation of privacy and it puts people in real, actual danger. It would be so easy for bigots to get that information and use it for something other than ads. It would be so easy for people to out others who aren’t ready to come out. It’s ridiculous and, yeah, Grindr claims they’re doing it less, but the knowledge of what they have done is still out there. There’s still that question of “what if they do it again” and, with how the world is right now, it’s really messed up and problematic.

If somebody is attacked because of the data that Grindr sold, is Grindr complicit in that hate crime, legally or otherwise?

So, moral of the story?

Yeah, selling data can get you a quick buck, but don’t do it.

You have no idea who you’re putting at risk by selling that data and, if people find out you’ve done it, chances are your customers (and employees) will lose trust in you and could potentially leave you to find something else. Don’t risk it!

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BeReal: Youngsters are flocking in droves to this Instagram competitor app

(SOCIAL MEDIA) As Instagram loses steam due to its standards of “perfection posting,” users are drawn to a similar app with a different approach, BeReal.

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social media - bereal app

BeReal is one of several “Real” apps exploding in growth with young users who crave real connections with people they know in real life.

According to data.ai, BeReal ranks 4th by downloads in the US, the UK, and France for Q1 2022 to date, behind only Instagram, Snapchat, and Pinterest.

BeReal flies in the face of what social media has become. Instead of curated looks that focus on the beautiful parts of life, BeReal users showcase what they’re doing at the moment and share those real photos with their friends. Their real friends.

It’s real. And real is different for a generation of social media users who have been raised on influencers and filters.

As the app says when you go to its page:

Be Real.

Your Friends

for Real.

Every day at a different time, BeReal users are notified simultaneously to capture and share a Photo in 2 Minutes.

A new and unique way to discover who your friends really are in their daily life.

BeReal app

The app has seen monthly users increase by more than 315% according to Apptopia, which tracks and analyzes app performance.

“Push notifications are sent around the world simultaneously at different times each day,” the company said in a statement. “It’s a secret on how the time is chosen every day, it’s not random.”

The app allows no edits and no filters. They want users to show a “slice of their lives.”

Today’s social media users have seen their lives online inundated with ultra-curated social media. The pandemic led to more time spent online than ever. Social media became a way to escape. Reality was ugly. Social media was funny, pretty, and exciting.

And fake.

Enter BeReal where users are asked to share two moments of real life on a surprise schedule. New apps are fun often because they’re new. However, the huge growth in the use of BeReal by college-aged users points to something more than the new factor.

For the past several years, experts have warned that social media was dangerous to our mental health. The dopamine hits of likes and shares are based on photos and videos filled with second and third takes, lens changes, lighting improvements, and filters. Constant comparisons are the norm. And even though we know the world we present on our social pages isn’t exactly an honest portrayal of life, we can’t help but experience FOMO when we see our friends and followers and those we follow having the times of their lives, buying their new it thing, trying the new perfect product, playing in their Pinterest-worthy decorated spaces we wish we could have.

None of what we see is actually real on our apps. We delete our media that isn’t what we want to portray and try again from a different angle and shoot second and third and forth takes that make us look just a little better.

We spend hours flipping through videos on our For You walls and Instagram stories picked by algorithms that know us better than we know ourselves.

BeReal is the opposite of that. It’s simple, fast, and real. It’s community and fun, but it’s a moment instead of turning into the time-sink of our usual social media that, while fun, is also meant to ultimately sell stuff, including all our data.

It will be interesting to watch BeReal and see if it continues down its promised path and whether the growth continues. People are looking for something. Maybe reality is that answer.

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