Tag Archives: real-estate

How to Get on the Ball with Your Blog

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I got this email the other day, and with the authors permission, I thought other agents looking to start a blog might find my responses helpful.

I am an agent with Coldwell Banker in Los Angeles and I attended your bloginar in July. I have really been researching (reading The Corporate Blog Book by Debbie Weil, searching out other blogs, and reading your archived posts on the subject) since then and I am extremely interested in getting the ball rolling on my blog.

I have a few questions I hope you can help me with.

1. BRANDING: I already have a website (RobinForman.com). As I understand it, I establish a blog under a separate URL and then I can link it to my website (I see Jim Duncan does this). Is there an issue with having to give people 2 separate URL’s? Should I put both on my business card? Or is it better to just give everyone the RobinForman.com URL and have them access the blog through the website.

This one is personal… I realized early on in creating Rain City Guide that I didn’t want this blog to be all about Anna. (I started this blog to promote my wife’s real estate business). So I choose a name that represented the area that she was doing business. It is so much easier to draw people to raincityguide.com than www.annaluther.com.

2. HOST: I see you had a hacking problem with WordPress. Are you still recommending them?

I’m definitely still recommending WordPress… As I stated elsewhere, WordPress wasn’t really hacked, but rather I made the mistake of leaving one file open to be overwriten by the server. If you are planning to start your own blog but don’t have the technical knowledge to manage the files and upgrades, I’d highly recommend going with WordPress.com (or, better yet, if you’re a Top Producer client, go with their hosted version of WordPress). With the WordPress.com option, they will even let you host the blog under your own domain for a nominal fee.

3. TARGET AUDIENCE: I notice on your blog you and your contributors publish stories/info that might appeal to buyers and sellers as well as trade issues that appeal to Realtors. I assume you recommend publishing for both target audiences at the same time.

I’d flip the logic on you… Instead of focusing on an audience, think of building a community. At that point, the question because where is the community you want to enter.

The problem with focusing exclusively on buyers and sellers is that it is a transitional community. Even if they enter your community for a short-while by leaving comments, they are likely to move on to other topics before long. If you want a sustainable community, making friends with other real estate professionals is key!

4. LINKAGE: Although outgoing links are important it seems that the incoming links are the most productive. Am I correct that I should concentrate on linking to other blogs that are likely to link back to me?

Don’t worry too much about inbound links… As you note, they are extremely valuable, but the highest quality links come when you least expect it. Focus on being interesting and the links will come.

Real Estate 101 – Improving on "the basics"

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[photopress:h.jpg,thumb,alignright]For the last few weeks I’ve set aside Friday mornings to get together with a small group of agents to talk about their Real Estate Business. Not everyone will succeed by the same means, and there are as many different ways to approach this business, as there are people in it. This is the time of year to take a step back and re-evaluate what you have been doing, and take the necessary steps to fix what is broken. This applies not only to each and every individual real estate agent, but companies as well. The times have changed…time to change with them without “throwing away the baby with the bathwater”. I’m going to go back and attempt to improve on the basics. For those who never learned “the basics”, you may find this helpful. For those who know the basics, let’s try to move a step forward together.

Basics: Year one = 12 “things”. I am going to change some traditional principles here, with regard to “things” to expand them from 3 to 4, and to eliminate the word “listing” from our vocabulary. I would like to elevate “having a listing” to “having a seller client” if and when possible, to remind us that we represent people who sell property. We are going to evenly weight representing a seller client and representing a buyer client, breaking from tradition here. An idea whose “time has come”, don’t ya think?

Most offices in the past had a big chalk or white board with three columns titled “Listing”, Listing Sold” and “Buyer Controlled Sale” or similar language. Given the changes in our industry since 1989, every company should change that system, to the one I recommend here. Every office should create a “Virtual Board” on an agent only, password-access website. The “board” should have four columns marked, Property for Sale, Property Needed, Property Sold and Property Found.

Column 1) A seller hires you to represent him in the sale of his property. You put “123 Peachykeen St.” on the board in the “Property For Sale” column. That is a “thing”.

Column 2) You meet a buyer at 123 Peachykeen St, but they don’t like it. You decide to help them find a property to buy, and they agree to hire you. You put “Mr. and Mrs. notPeachykeenSt” on the board in the “Property Needed” column. That is a “thing”.

Column 3) Joe Agent from another company faxes you an offer on 123 Peachykeen St and your seller client accepts that offer”. You put “123 Peachkeen St” on the board in the “Property Sold” column. That is a “thing”.

Column 4) Mr. and Mrs. “not PeachkeenSt” submit an offer on a property and that offer is accepted by the seller. You put “Mr. and Mrs. notPeachykeenSt – 123 SomewhereElse St” on the board under “Property Found”. That is “a thing”.

It is very important for agents to track “things” and not just sales. Columns 3 and 4 are sales. Columns 1 and 2 are the actions that create the sales. In a balanced or buyer’s market, every item in column 1 should produce 1 sale in column 3 and 2 sales in column 4. Given most of the Country is coming out of a hot seller’s market, it is a good time to review the basics, and go back to when property was on market long enough to produce 3 sales from every property for sale.

A new agent should have 12 “things” by year end. A second year agent should double their sales from the first year, and reduce the number of “things” in Column 1 and Column 2, that did not result in a sale. When an agent reaches 36 “sides”, by doubling their sales each year, they reach a crossroads, but that’s another article.

For now, the goal of every agent is to get to 24 to 36 sides per year. A side is representing the buyer OR the seller in a real estate transaction. The goal is to have 12 properties to sell each year, and sell them. From those 12 properties, you should be able to assist 24 buyers in finding a home to purchase. 36 “sides” equals 12 Properties Sold and 24 Properties Found. The number of sides between 12 and 36 is somewhat affected by the price range you are selling. If your average sale price is $200,000, then you will need more sides than someone whose average sale price is $600,000.

Now everyone get out your “boards” from last year. Examine Columns 1 and 2 very closely and be very honest in answering where you may have failed in assisting your buyer and seller clients in achieving their objective last year. Not what “they” did, but what “you” did not do for them.

Look at Colums 3 and 4 and examine what you did right in those scenarios. Contrary to popular belief this is NOT a “numbers game”. Every property you do not sell equals a failure for you seller client. Every person whom you did not find a property for, is a failure for your buyer client.

It’s is now time to do your 2007 Business Plan. Some of you will need to hone up on your skills, to get more of Column 1 down to Column 3, by converting more of your Properties for Sale to Properties Sold. Some of you will need to hone up on getting more of Column 2 down to Column 4, by honing up on your skills of finding the right properties for the right people. Others may need to make better choices with regard to columns 1 and 2, or reduce the costs of attaining them.

Focus on the clients and not just the numbers. Why couldn’t you sell 123 PeachykeenSt? What did YOU do wrong, not what did the seller do wrong. Why couldn’t you find a property for Mr. and Mrs. notPeachkeenSt? What did YOU do wrong, not what did they do TO you. If you think your clients failed…you will not be able to implement an effective business plan for 2007. Once you accept the responsibility for all of your business and non-business in the prior year, you will improve on your business and business plans in every year out into the future.

If you DID achieve the goal of 36 sides, but don’t feel you made enough money, then your problem is in either in the cost area and not the client area, OR you need to elevate your price range.

Questions? Feel free to ask away.

Strip clubs on the ballot

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Land use initiatives aplenty this year in Seattle.

Strip clubs aren’t directly on the ballot, but this year Seattlites are voting on a proposed 4-foot rule (between dancers and patrons) and forced bright lighting (to keep the cockroaches off the floor during business?) to regulate all 4 of our fair city’s strip clubs. There are so few clubs because there has been a “temporary” moratorium on new clubs for nearly two decades now which is still being fought over in the courts (right?). It seems that Seattle is becoming the most socially conservative liberal city in America.

As this great Seattle Times article points out, Portland is at the other end of the spectrum, with over 13 times as many strip clubs per person as Seattle, yet it’s still a great place to live (although I can’t vouch for Voodoo Doughnut – they don’t hold a candle to TopPot Doughnuts).

How does this tie into real estate? For starters, strip clubs are primarily opposed by their residential neighbors. Also, strip clubs (or a de facto ban on strip clubs) reflect on and affect the character of Seattle (for better and for worse). And this is really a property-rights issue: can you do what you want with your land or should the effect of your use on your neighbors be considered? Whatever you believe, I hope you get out to vote or send in your ballot this year.

Is Seattle Bubble Proof?

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Best I can tell so far, the answer to that question is a resounding YES, Seattle IS bubble proof, at least in the $300,000 and under market.

I am totally bugeyed, having spent the last 10 hours slicing, dicing and dissecting every single stat in the $300,000 and under market, in $100,000 increments, for 2005 and 2006 year to date on a month by month basis.

While we are seeing a teensy weensy weakness in October vs. August and September prices, the run up from January of 2005 to present has been insane. 72% of families have been squeezed out of the first time buyer market during that time in the $300,000 or under range. So even if we see prices dropping back, we will not soon see the day when the increase will be declared a bubble that is about to burst. In fact a modest correction is well warranted, but I do not see single family homes dropping in price back to where they were in January of 2005 for many, many…if ever…years. So yes, in the single family home market, anything decent in the lowest of price ranges should still be grabbed up. By March of 2007 the opportunity to get any bargains in the entry level single family home markets, will likely be gone for good.

For my neck of the woods, which would be from Green Lake up through Shoreline and beyond, around Lake Washington and into Kirkland and the Eastside, if it’s a single family home priced under $400,000…buy with care…but don’t wait for any of them to ever dip under $300,000 again. I don’t see that happening.

Condo markets in the same price range…entirely different story. I’d stay far away from the one bedroom condo market. the run up there has been as insane as it has been in the single family home market, BUT the one bedrooms are fast converging on the price of a much large two bedroom. So don’t assume you have to buy a one bedroom condo if you are starting out.

So many have overlooked the two bedroom opportunities, that the price growth of the one bedrooms has far exceeded the price growth of the two bedrooms. As fewer people can afford single family homes, more and more are buying condos in the under $300,000 price range. Hold out for the two bedroom units whenever possible, and let the one bedroom condos back off in price a bit. Some one bedroom units are tryng to sell at 79% more than they did 16 months ago! Pass them by. Hold out for a two bedroom, unless the one bedroom is reasonably priced for what and where it is.

I’m too worn out to go further than $300,000 today, but what I’ve written is worth studying. I have every single number broken down by $100,000 increments and split between condo markets and single family markets. I didn’t post them all, but I will keep my sheets of pencil notes for awhile, just in case anyone has any questions.

Ten Ways to a Killer Blog by the Scobles

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The Scobles (Robert and Maryam) led a fun presentation which began as 10 ways to killer blog, but ended as a way to 15 fun (and potentially valuable) tips.

It was a fun talk and Maryam’s giddy attitude was infectious with the crowd playing along with fun questions.

  1. Blog because you want to.
    • “A story without love is not worth telling.

Tear Downs

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One of the commenters, Redmondjp, asked about tear downs. Kirkland is famous for new homes being put where old ones used to be. But our conversation stemmed around whether or not Bellevue and Redmond ramblers built in the 50s and 60s will go the way of these Kirkland teardowns. I know of a few in Bellevue. I don’t know any in Redmond.

Here are a few recent tear downs, before and after, from Kirkand. What do you think?

Should the old ones have stayed?

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Popcorn ceiling removal

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popcornI really would like as much info as anyone may have about removing popcorn ceilings. Whomever invented those things should be drawn and quartered. Also called “cottage cheese” ceilings. I think they look more like large curd cottage cheese than popcorn.

1) How have you tested for asbestos before removing?

2) Any step by steps of the process appreciated

3) If anyone in the Seattle area has had them professionally removed, who did it and can you break down the cost per square foot? I assume without asbestos is cheaper to remove than with asbestos. Is there a cost per square foot?

Anyone know why they were popular? Anyone still like them, and if so, why?

New Construction Tip

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Blue_TapeWhen buying new construction, you should try to do at least two walk through inspections before signing your closing papers. Do one early, maybe two weeks ahead of time. Go back BEFORE you sign your closing papers and check to see if everything from the first walk through was done. You can’t really hold up closing for minor items, so more walk through inspections are better than just one. As many as you can get away with.

But here’s the TIP of the DAY! I love this one and so do my clients. We bring our own blue tape. The new construction person will usually have blue tape, and when you point out a problem, they usually put a piece of blue tape on it. But sometimes if they think it is a picky item, they don’t, and you have to bug them to put a piece of blue tape on it. So bring your own blue tape. Give everyone blue tape. Then you don’t have to call the new construction person for every piddly little item.

Then everywhere there is blue tape at the end, you make a list of the items, and where you don’t expect the builder to be able to fix an item, you put a credit amount if they can’t fix it. Example, there was a little scratch on the stainless steel refrigerator. It’s a large all new condo complex. You put down that you want a $250 credit (whatever) if they can’t buff it out. The builder can just switch it out if he wants, and give you the one in the unit next door and hope they don’t see it, if he doesn’t want to give you the credit. You’d probably be happier with the one with no scratch, but at least you won’t have to suck up the one with the scratch without a credit. Another example. A little piece of slab granite in the back of the shower, where the two pieces meet, was chipped. You could only feel it, you couldn’t see it. The builder isn’t going to fix that. He’s not going to rip that whole shower apart and bring in a whole new piece of slab granite for a little chip you can’t even see. But you should get a credit for imperfections that can’t be fixed.

When the workers come to fix things, they can’t tell the builder reps tape from everyone else’s tape, so they just fix it all. That’s why it must be BLUE tape. Actually it has to be the same color they use. If you have green and they have blue, they can pull all of your piddly items off. But if it’s all blue, it will be next to impossible for them to sort out whose blue tape was whose.

Works great. And buyers love running around with their own blue tape, and not having to ask the person to PLEASE put a piece of blue tape on this and that. You are more likely to catch everything, if you have your own blue tape.