The MLS of the future

[photopress:futurama_bender.jpg,thumb,alignright]Recently, the Center for Realtor Technology and Jim Duncan’s Real Central VA had blog posts on the desire to have MLSs’ add another column to their schema that indicated the broadband access status of a property. I think this is an idea whose time has been a long time coming. When I moved from my old home in Carnation to my new home in Issaquah, the new owner of my old house wanted to know everything I could tell him about the home’s local ISP (I believe he was a network engineer). Similarly, one of the major reasons I moved into my current home, was that it had bandwidth to spare (my ISP’s top of the line plan is currently 8 M download / 2 M upload speeds). In the Emerald City or the Bay Area, this information is probably second in importance only to the list price of a home or its location. Simply put, a home’s high speed internet capabilities is an increasingly important factor in your purchasing decision.

However, as long as the MLS DBA is mucking around with database schema and typing in ALTER TABLE Residential ADD Internet varchar(50) and other SQL DDL commands, why should we stop there? Here’s what I’d like to see when the MLS gets around to enhancing it’s database schema.

Use Links. Why not enhance school, local government, builder & utility information in the MLS to have both names and urls? When I move to a new home, usually the first thing I need to do is contact all the local utilities and let them know I’m in a new place. Having links to Puget Sound Energy, Issaquah School District, Specialized Homes, and King County Government in the MLS would save me time. Finding contact information and phone numbers is a much bigger pain than it should be at times.

Cell phone reception information. If you don’t have good cable or DSL internet access, knowing how strong Sprint’s or Clearwire’s signal is would be nice to know. I suspect real estate agents and other professionals that increasingly depend on wireless internet access would find this information very helpful.

More accurate and fewer errors. OK, I’ve complained about this before. Still, is it really too much to ask? If a property doesn’t geocode, somebody may not find it when they use a popular map based real estate search engine.

Embrace RETS. Enough said.

Richer media. OK, so the MLS allows you to upload 10 or 20 small photos (or whatever the number is). Why not allow larger photos, MP3 files, video files or PDF flyers? As broadband takes over the world, the stuff is a lot more practical. Although, the idea sounds nice in theory, I’m not sure agents are ready to hire professional audio engineers or videographers when many haven’t learned the value of high quality photography yet. I also think the MLS IT infrastructure isn’t ready for this kind of load (frankly if you can’t handle the bandwidth demands of digital photography, you should probably outsource to Amazon S3 or Flickr Pro before it’s too late), and it’s going to make life more a lot more interesting for us IDX vendors.

So, if you could change the MLS database, what would you like to add or change? What information do you wish was there, but isn’t? Is built green home information and information on low flow toilets something today’s home buyer wants to be able to search for? Do you think more information would pose an undue burden on agents or brokers (those MLS listing forms are one step removed from a tax return), or do you want more, more, more? What would you like IDX vendors to do differently, regardless if the MLS changes or not?

Talking Up Shackprices

[photopress:galen_ward.jpg,full,alignright]Nathan of nPost just did a great interview with Galen on Shackprices… Lots of gold including some indication of Galen’s vision for the future for Shackprices!

What is your long-term plan for ShackPrices?

I would really like ShackPrices to be a national real-estate search website. Our goal is to make it for anyone in America to search for a home. The plan is national coverage, more features, and a better site for people to search for a home with.

Don’t stop with this quote… Go read the whole thing! 🙂

You are breaking my heart Redfin…

I will start with a caveat. I am a owner in a real estate development company and I am not primarily shopping homes for clients, but instead buying properties to develop and build. That being said, you may think I have nothing but critiques for any other real estate company… not true! Dustin and I have been playing with mapping applications in regards to real estate for a long time. This is actually the way I was introduced to RCG.

Way back then we (LTD, not Dustin) were attempting to integrate what was not being done… Aerial parcel mapping of real estate listings. Around that time Redfin launched a pretty slick product. As a visitor of Redfin my only complaint was the size of the viewable space. There was no site out there that utilized the whole page like Microsoft’s Virtual Earth. The size and detail of the photos (at least in the PNW) were great and although not that recent at the time, much better than using what else was out there.

My biggest gripe with Redfin has been their use of space, most notably the size of their map. In my eyes you could get an idea of the neighborhood, but not a great idea without knowing the area already. Virtual Earth’s full size maps on the other hand were and are great. NWMLS made us change the name of the map because of the words MLS in the URL. MLSMAPSONLINE (image to the right) used the full size maps and parcel data much like Redfin, except we choose to use an opaque layer over a part of the map to maximize the user experience. We stopped working on that product when Zillow launched and we realized it would take too much $$$$$ to stay in the game.

Anyway as I said I am a guilty of using Redfin. When John L Scott did a great job when they launched their new site using Virtual Earth. A great job, but were still missing many of the features that made Redfin great. Redfin was much faster than the NWMLS for a simple search and easy to drag the map to increase the prospective area. I still never understood why they used such a small area for the map, but then again, they were my competition so I wasn’t that worried about the problem.

Then I heard they launched a new version using Virtual Earth. I was so excited when I caught word I quickly ran to my mouse and was ready for the thrill, but I was quickly let down when I saw they kept the same map size and page orientation.

Here is the image from Redfin

Here is the image from Shackprices

It would be great if when using Redfin you could see how the house sat on the lot, what size is the front yard, where the driveway is, in this pick the massive amount of trees in the front and rear yards, etc. I am sure the parcel box will be changed right away, but I am surprised about the map size and location of the content. There is plenty of room on the monitor, so I am confused. MLSMapsOnline used the vertical orientation, so I know it can be done.

In then end, this blog is not about a critique, but instead a nudge nudge.

More Bed Hopping with the Competition

  1. Matt Goyer, of Urbnlivn fame, just accepted a position at Redfin. I wonder if he’ll keep up urbnlivn, or quit in favor of the Redfin blog like Rob. Just reading that article about Rob reminds me how much things have changed in the past six months…
  2. Anthony Allan put together a nice post on five steps to Realtor nirvana.
  3. Tim shows the Seattle Bubble is more popular than Rain City Guide! And wants a front-page link from RCG in the same post! I like Merv’s approach to giving site stats better (i.e. keep me out of it!) 🙂
  4. Meanwhile, the classic over-achiever (who happens to be a damn good writer) follows Tim’s lead today and shows me up by taking my idea (list of 10) and doing it better
  5. Niki let me know about the massive updates that he just unrolled at HomeThinking. He’s got a pretty comprehensive database of sold listings and my understanding is that he is attempting to get people to review agents for as many transactions as possible. It might sound unintuitive for agents to support a site that allows users to comment on them, but Nike (and Mike of Altos Research) seem convinced. Niki also mentioned a bunch of interesting features including a GeoRSS feed of his data so that it can be syndicated far and wide.
  6. I also noticed that HomeThinking is syndicating Real Time Pricing Trends from Altos Research in selected markets. Here’s their chart for Seattle:
  7. Prices for SEATTLE

  8. Osman writes about an interesting “green” development in Aurora, CO that would “encompass nearly 3,000 housing units, 1.7 million SQFT of retail, and 2.8 million SQFT of office space” if fully built out!
  9. Remembering Katrina.
  10. Google now allows you to download and print out old books that they’ve scanned from some of the nations largest libraries. Very cool. Not only that, but they recently introduced a news archive search that has scanned 200 years worth of news. Wow!
  11. Not only is Noah is off enjoying a trip in Europe at this moment, but he should be officially mawwied by now. Congratulations!

Yahoo Responds to Our Questions!

Based on my request for questions a few days ago, I put together a slew of questions for Yahoo to answer about their new real estate site. I must say that I was a little bit disappointed in the number of times they state “we can’t comment on future releases or upgrades”, but otherwise, I think there are some nuggets of gold in their answers. (Note that I also added a few questions in the beginning to get them talking about their service before I hit them with the agent-specific stuff. 🙂 )

1) What are the three best features of the new site?

1. Integration with Yahoo! Local & Maps:

Yahoo! Real Estate has added maps with satellite imagery so house hunters can easily see where homes for sale or rentals are located and their proximity to roads and other landmarks. In addition, integration with Yahoo! Local allows users to also see “inside information

10 Questions For Yahoo! Real Estate

Today I got an email from Haley at Yahoo announcing their new and improved real estate site:

Today Yahoo! Real Estate announced a revamped site which includes comprehensive tools and services to help home seekers chose their dream home. Yahoo! Real Estate is now more tightly integrated with Yahoo! Search and Local, giving users inside information (like mortgages, local market rates, even ratings and reviews on local restaurants, businesses and schools) for the more than 3 million homes listed on the site.

Below you’ll find a release detailing the improvements. If you’re interested in learning more, I’d be happy to arrange an interview with a Yahoo! Real Estate spokesperson, please feel free to email or call me on XXX.XXX.XXXX.

It is really not appropriate for me to do the interview, so I’d rather turn this back on RCG readers… Are there any questions you have for Yahoo about their new site?

If you do have questions, let me know ASAP because I’d like to aggregate the 10 best questions and pass them along to Haley by the end of the day today!

I believe that real estate agents are either in marketing or…

  1. Google is doing a major update on their backlink calculator. One of the updated datacenters is showing over 1600 backlinks to RCG while the regular search is still only showing 733. This is great news! The more often Google re-indexes backlinks the better because we get so many more (recognized) backlinks than the typical agent website and I’ve noticed that each time Google updates these backlinks (they only do it every 3 to 6 months), we placed much better in organic search results shortly thereafter. Yum!
  2. Talking about organic search results, I let Greg know that I thought he was potentially hurting himself in Google by posting identical articles on both his regular blog and his ActiveRain blog (no longer available). Put very simply (and definitely an oversimplification), when Google sees two identical articles, they are forced to make a choice in determining which article is “good” and which one is “spam”. Assuming you don’t want either of your sites to be labeled “spam”, then don’t have identical content floating around in full. (When a spam site copies your articles in full, you’re just have to trust that Google will figure it all out!) If you’re going to put articles on more than one site, make sure that you change things up a bit, or better yet, summarize the article and link to your main site where the full article can be found. I would point out some of the other people besides Greg who are doing this same thing on ActiveRain, but it appears that word travels fast via email and most of the guilty have taken their ActiveRain blogs down (Joel being the only exception I’ve found at this point… and he really should not be doubling up his content at this point considering he’s still in the process of “teaching” google about his new domain.)
  3. However, all this makes me feel bad… Matt, I promise my intentions were good and I wasn’t looking to get people to drop their activerain blogs. I think you’ve got a great platform and others should definitely consider blogging on your site. I just wanted to warn people that they might be committing googlecide (a great phrase coined by Greg!) if they post identical content in both places! For everyone’s benefit, Matt Cutts gives a comprehensive explanation on how to get re-included in Google searches should your site ever be listed as spam, but I don’t think that should be necessary as the re-inclusion request is typically for sites that have actively tried to trick Google in ways much more devious than duplicate content.
  4. Steve Hurley let me know about his new blog for the Tacoma area (South Sound) and he asked for some advice on how to get more readers. My advice: start linking to other real estate blogs! There are a lot (a ton!) of real estate blogs with good content that will never get “discovered” because they live in their own bubble (yes, real estate has lots of bubbles!). I think a lot of real estate agents have a view that they are smart enough to be the one and only resource of real estate information. Even if that held water, very few agents are good enough to break out of the mold without some major help from other real estate bloggers. So, regardless of how good your stuff is, find someone else to link to in every post! Really, every post!
  5. Another way to drive traffic is to leave comments on other people’s blogs. The nice part about leaving a comment is that you’ll get a link back to your blog with each and every comment. However, that won’t generate traffic nearly as effectively as if other bloggers are linking to you within their posts. What is the most effective way to get the attention of other bloggers so that they will link to you? Link to them! Want more? Here are the three most important elements of real estate… blogging: Linkation, Linkation, Linkation.
  6. Greg: Ardell’s going to kill me for that title. I promise I wrote it before I became a believer in the church of Ardell! 🙂 I really wish I could give you a “on a related note” to this story, but I simply can’t blog about a meeting I had last week with the master of real estate marketing…
  7. I agree with Chris Pirillo that social bookmarking buttons have gotten out of hand. I’ve not added any to RCG because it seemed like it took up valuable real estate and I’m not sure it provided a valuable service to our readers. The only one I’ve considered adding is del.icio.us, but considering most del.icio.us users have a button installed on their browser (they tend to be a tech-savvy bunch), I’ve never bothered. Adding a button for a site like digg (let alone sites like reddit) seems pointless for a real estate blog since I’ve never seen one real estate article promoted by those communities. (In other words, why would I give them an ad (i.e. their logo) on every one of my posts if they are never going to send me traffic?)
  8. I want one… Sony is preparing to introduce a light-weight geocoder with software to make geocoding photos easy. Although I wish geocoding photos was easier than dragging along another device…
  9. Taken one step further (and two steps too far): Wouldn’t it be great if you could search for an item based on where you were when you were working on the file? As in, “I remember taking those notes while in San Francisco…” and then have a document filter based on where you were when you made those edits (obviously, this only makes sense if you’re working on a laptop or mobile device). The secret weapon in this idea would be taking advantage of the wifi positioning from Loki so that you don’t have to lug around another device…
  10. Everyone knows that Loki was the god of mischief, right? (Due to a simple twist of fate, I know a lot more about Nordic gods than I do bible stories, but I can’t go there because I’ll get to sidetracked…). Well, the mischievous people over at Trulia have blocked Move’s IP address so that I didn’t read what Greg liked so much about their post until I got home. (I know I could have proxied in, but I didn’t bother). Anyway, the article is hilarious and definitely shows the benefit of not taking yourself too seriously. Tell your kids: real estate is fun!!!

Required Reading…

Another list of 10:

  1. Worth reiterating: Polly’s comments should be required reading for all agents (including the comments within the post about her comments! 🙂 ).
  2. Claudia Wicks lets us know about this “genealogy” site geared toward homes instead of people… The site includes maps, photos, etc.
  3. Also, are press releases still valuable? A quick search on Claudia shows that a recent press release she put out about being one of the Top Woman Real Estate bloggers dominates the coverage of her name on a google search. Fascinating.
  4. Artemi just emailed me to let me know that he just released a major upgrade to his real estate search site for England. The features that stick out for me are the simplicity, the tags for each property, and the natural language search (like the fact that the site also pre-fills in the search box with relevant tags). Great stuff…
  5. Interesting to read Jim’s perspective on the new website he is building with Ubertor. From what I’ve seen, the website definitely suffices as far as websites go, but if I was searching for an agent, I’d say his blog does a much better job selling himself.
  6. Searchlight had a follow up to their renting is for suckers article that describes some reasons a person should not buy a house. I can’t tell if they read my comment, but they clearly addressed some of the issues I brought up.
  7. Joel gives some insight into the art of being good enough
  8. And then follows it up with news that Prudential is jumping on the Zillow API bandwagon.
  9. My take? Here are the ingredients for housingmaps style publicity: map. geocode. data1. data2.
  10. Jim’s worth noting column reminded me that I really wanted to mention DataPlace at some point. I saw a presentation of this tool at Where2.0 and was very impressed with the massive amount of neighborhood, demographic, socio-economic, etc. data that the Fannie May Foundation has manage to squeeze into their interface (and it is all free!). To give an overview, check out the massive amount of mortgage information available for the Seattle-Bellevue area or better yet, check out the map that I was able to easy build on post on my site of home ownership rates in the area:

The Best Online Real Estate Marketing Time Can Buy

Jim over at the Real Estate Tomato has an interesting post about the type of content that real estate agents should produce on their blog. The question of content really boils down to how to do the best possible search engine optimization (SEO). So, here are my two cents…

The type of content you write about is almost irrelevant.

Really! I’ll repeat that…

The type of content you write about is almost irrelevant.

There is no “perfect” content or “magic bullet” that will get you to the top of the search engines and thrust you to internet lead nirvana.

Here’s the reality: It is far more important to be interesting in a real estate kinda way (hence the “almost”) than to worry about creating the “right” content.

I sincerely doubt that Hanin Levin set out to be the #1 result on any search for real estate information in Laguna Niguel. He got there because Google has a lot of trust for his site with regards to real estate and at one point he happen to mention Laguna Niguel in one of his blog posts. This is the the long tail in action, which also helps explains why Rain City Guide shows up #2 on that list.

Why does Google have a lot of trust around Hanan’s site with regards to real estate?
Because a lot of real estate sites (mainly bloggers) have linked to him. That back-and-forth of linking between related sites blows away all other factors.

Why do other real estate bloggers link to him?
Because he is interesting!

Maybe after you’ve created a real estate blog that does well in Google, you’ll decide that you’re missing a few keywords, but more likely your readers will do that for you. An recent example occurred when a reader pointed out that we didn’t have any good houseboat information. A simple post three days ago on houseboat financing has already put Rain City Guide at the top of a useful Google search.

[photopress:williams_at_christmas.jpg,thumb,alignright]The important thing to remember is the “perfect” content will only work if others are linking to you and the content is good enough to keep readers coming back for more. My guess is that people begin searching the internet for real estate information months before they are ready to talk with an agent. As an agent, you want to write content that will keep them coming back long after they’ve forgotten about their initial google search!

You could try to be interesting like Lockhart with lots of NYC real estate gossip, like Hanan by posting fascinating links on a daily basis, or like Joel by being on top of real estate technology, but more likely, you’re going to need to write about something that hits a little closer to your interests. Blogging done right is similar to all other human endeavors done right… Success will be a reflection of your personality.

Finally, Jim, it would be wrong to write this whole article without giving you the link you’ve earned by being interesting… So, here’s my link to a great marketing article from the juiciest real estate tomato in northern california! 🙂

Real Estate Search Demographics

If you haven’t seen it, Microsoft released a demographic tool that gives the estimated demographic for a search term and/or URL. Just for fun I threw a few of the major real estate technology sites (as well as the search term [real estate], kept track of the results, and that pushed this chart out of Excel:

[photopress:real_estate_search_demographics.gif,full,centered]

So, assuming that Microsoft’s numbers are correct, what patterns emerge?

  • The search term [real estate] tracked really low for people under 18 and high for people between 25 and 34 (kinda makes sense!), but none of the websites tracked near these extremes.
  • HomeValues and HouseGain… I mean HouseValues and HomeGain attract nearly identical audiences.
  • Trulia and Zillow attracted almost identical audiences as well (never off my more than 2% for any demographic)
  • Zillow had the most balanced demographic pattern with between 18% and 22% in each category.

Note the obvious: Microsoft only has demographic information on people who give it this information. This means that the data is just as suspect as the Alexa data.