• WSJ, '60 Minutes': How did they do that?

    Kelman_glennMany of our loyal readers have wondered on this blog or to me in e-mail how it is that companies like Redfin and Zillow get so much press. Zillow gets at least one mention in a newspaper article somewhere across the country nearly every day -- no kidding. I have a news alert set up and not a day goes by where I don't get some kind of blurb about them. And Redfin has snagged coverage from New York Times, Wired magazine, Wall Street Journal and CBS' "60 Minutes." (And oops, now each has received Inman News coverage today.)

    If you follow start-up king Guy Kawasaki's blog, you probably saw a recent entry penned by Redfin CEO Glenn Kelman called "DIY PR." In 11 points, Kelman reveals his thinking on his company's PR strategy, revolving around the theme of transparency. It's an interesting approach that's obviously worked for Redfin, though judging by the commentary that erupted in Kawasaki's blog and many others, PR pros would say that this doesn't necessarily guarantee a horde of press coverage.

    Kelman has gleaned a lot of limelight coverage, but also has attracted a lot of industry blog wrath. While he's not being interviewed by journalists and bloggers, writing at his company's blog or penning letters to the editor for the New Yorker (he was published in a January issue this year), Kelman will be preparing his keynote speech for Bloggers Connect. The CEO will take the stage in a room full of bloggers to discuss, "Sitting in the eye of a media storm."

    Something to blog about? We'll let you decide.

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  • Superhero Marketing 101

    Super_2 1. Don't try to blend in with a crowd
    2. Bring a copy of your latest comic book
    3. Strike a pose

    RainDrop Man, a superhero who markets weather-resistant building supplies, attended PCBC, a builders' conference and trade show, in San Francisco this week. The company that dreamed up this character was handing out comic books that chronicle the adventures of a man in a green bodysuit and also advertise the company's products.

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  • Worst investment ever?

    Ramsh Here's something that may send shivers up your spine if you think prospective homebuyers are sitting on the sidelines in some markets waiting for prices to fall. What are they going to think when Motley Fool tells them they'd be better off putting their money in stocks?

    This take on the rent vs. buy debate was originally published May 18, but is getting top billing today in the Personal Finance department at Yahoo! Finance. According to Motley Fool writer Robert Aronen, homes are "The Worst Investment Ever."

    One reason, Aronen says, are the high annual expense ratios -- property taxes, maintenance and insurance can add up to 3 percent or more of property value. That compares with less then 1 percent for the best mutual funds.

    The bigger problem, Aronen says, is the "big hit" you take when you sell.

    "Real estate agents will collect 6 percent of the selling price, while, lawyers, inspectors, title companies, and banks will collect additional fees," he complains. "These fees appear as though they will remain stubbornly fixed for years to come. If you flip properties as though you are actively trading stocks, the only folks getting rich will be real estate agents."

    The rent vs. buy analysis can be a complicated one, depending on a prospective buyer's income and tax bracket, geographic location, and the home they're looking at. Should real estate professionals be more involved in this debate? What tools is the industry offering consumers to help them decide whether a home is or is not "The Worst Investment Ever"?

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  • NO! Polly's in foreclosure?

    Underdog Writing about mortgage lending, the stuff that comes into my e-mail inbox never ceases to amaze me.

    I used to LOVE this cartoon when I was a kid (but no, I am not planning to see the forthcoming Disney movie).

    I don't know much about this particular offer, but my first instinct would be that Underdog would not be endorsing an interest-only, stated-income home equity loan. Maybe he'd come to your rescue when they take your house away.

    Or maybe he'd just say tough, you should've known better.

    More from the e-mail:

    Ask about our New Underdog Program:

    - HELOC 1st, Interest Only, No FICO Needed

    - up to 4 points and $1,000 in fees (No High Cost)

    - Same Day, Aggressive Appraisal Review

    - Stated / Stated

    - Current Foreclosure - OK, BK - OK

    - 1 day on Title

    Here's who sent me this.

    Check out the rate sheet and matrix.

    With a maximum 65 percent LTV, maybe it's not that risky. But it ain't cheap. 12.25 percent interest rate, $1,000 processing fee,  and "early termination fee will apply."

    Theme from Underdog:

    When in this world the headlines read
    Of those whose hearts are filled with greed
    And rob and steal from those in need
    To right this wrong with blinding speed goes
    Underdog!

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  • Local News Goes HyperLocal

    Picture_2 Newspapers have all but given up on local - slashing staff and cutting reporters seems to be the norm these days. Local television stations web sites have been eyeing the consumer's move towards "hyperlocal" Internet content with anxious eyes as well, but some at least, thankfully, have been more proactive in tackling the challenge then their print based counterparts.

    The Lost Remote TV Blog reports on a new initiative by King5, the NBC affiliate in Seattle, who launched Citizen Rain - a blog aggregator that catalogs the latest conversations happening in a number of verticals, including real estate. The site pulls together the latest posts from a number of popular Seattle blogs including 360 Digest, Rain City Guide, Seattle Bubble and Urbnlivn to create a virtual "river of news" for their viewers.

    They've also enlisted local blogger Ben Kakimoto from Seattle Condos & Lofts to write their own Condo blog. A very smart move by a local channel to work with the bloggers rather than fight against them. Why? NBC gets some great content to sell advertising inventory around and Ben instantly gets the credibility boost (and presumably some condo business) from King5's endorsement. Win, win.

    So if you're still questioning why you should start your own real estate blog - look no further. Mainstream media is looking for ways to capitalize on this new medium and could be looking for you to help.

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  • Get your free copies of Seven Steps to Sold

    Donnashannon_2 Anyone who watches HGTV's hit show Designed to Sell knows Donna and Shannon Freeman as the witty, straight-talking mother-daughter team advising home sellers on what it takes to close a successful sale.

    They have now written their first book, Seven Steps to Sold, and Inman News is offering its members up to 5 free advanced copies of the book to hand out to your clients. But numbers are limited -- only the first 20 members to send an email to mattm@inman.com will get copies.

    In this comprehensive guide, Donna and Shannon Freeman reveal the secrets to selling a house quickly and for maximum profit. On Designed to Sell, the duo has gained a reputation for their no-holds-barred style of telling sellers the truth about their homes. Their advice might be harsh at times, hilarious at others, but it is almost always on the mark. That same style pervades this valuable step-by-step guide.

    Seven Steps to Sold
    shows sellers how to:

    • Disconnect emotionally and think of their home as a commodity
    • Choose a great real estate agent
    • Understand the motivations, fears and desires of buyers
    • Decide which repairs make the most impact
    • Accentuate their home's strengths
    • Avoid common mistakes sellers make during closing

    It's a fun, practical book full of important selling advice that your clients are sure to appreciate. Books go on sale May 22nd. Drop me an email today to order your free copies. Remember, this promotion is for paid Inman News members only.   

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  • Putting the "M" in CONDO

    Anim_2 An announcement for ManhattanWest, a condo project in Vegas, is marketing hers and his units.

    The development offers "amenities crafted for specific male and female demographics, while also offering a 'mix and match' option for those wanting to enjoy the best of both worlds," according to the announcement. For women there are the Diva units and for men, the "M-Series."

    The manly M-Series units feature a set of " 'guy-friendly' upgrades designed for guys by guys," including a ceiling-mounted HDTV projector that can deliver an 8-foot to 10-foot picture (tuned to the Spike network, presumably?), a "built-in, stocked wet bar" (24-pack of Pabst Blue Ribbons included?), a surround-sound speaker system, and a pair of half-sized dishwashers (but men don't wash dishes, right?).

    The Diva Series units feature bathrooms with jetted bathtubs that "automatically maintain the water temperature for the length of the bath," "extending magnified makeup mirror with day/night lighting," and iPod speaker docks. Diva unit closets offer "extensive shoe storage and shelving" and full-length mirror, and unit terraces feature "an irrigated mini-garden that will come pre-planted with flowers, herbs or vegetables."

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  • Help wanted

    Salesman_2 Job posting for a sales rep at Orange Coast Title Co.’s La Mirada, Calif. office:

    “Call on a number of real estate related companies in order to produce title and escrow business for the company. [Sales rep's] primary function is to establish relationships with individuals who can generate business for the company …  generous expense account, draw and car allowance.”

    California Insurance Commissioner Steve Poizner, speaking last week at the annual convention of the California Land Title Association:

    "The relationship-building expenses, some legal, some that have been deemed to be illegal, between the title industry and other players in the real estate transaction, is at the core in my view of the problem” of the way title insurance is marketed.

    Orange Coast Title in August agreed to pay a $626,000 fine to settle allegations that it made illegal payments and rebates to induce business. Orange Coast Title denied the allegations.

    CLTA president Rich Macaluso is the company's chief operating officer.

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  • Finally! There's more sex in real estate

    Savvy_womans_flat_bookcoverSavvy marketers have known for a long time that women are prime decision makers when it comes to purchasing power. And as single women beef up their ranks in the home-buying demographic, a number of real estate businesses and entrepreneurs are going after this -- almost entirely cutting the man out of the marketing picture.

    There are a ton of women-focused real estate books at Amazon. I just finished reading Tara-Nicholle Nelson's, "The Savvy Woman's Homebuying Handbook," which has a different approach to helping women buy homes. Let's face it: men and women think and react differently and rather than try to wrap them into one audience for a "how-to" guide, Nelson cuts straight to the chase and focuses on challenges she's found particular to women. Her background, which includes a psychology degree and work as a professional attorney, makes for an interesting approach. Nelson's vision came out of her own struggles as a young single mom trying to buy a home for her kids and her experience working as a real estate attorney watching deals go awry.

    Other interesting approaches:
    --Woman-Centric Matters - Services for Home Builders, which explores the woman's point of view in the home building process
    --The Tao Gal's Guide to Real Estate

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  • Real Estate Marketing through Social Media

    Participation in all of this new social media (blogs, social networks, wikis etc.) is difficult to gauge but several recent attempts have been made to try and measure audience participation. The latest is Forrester’s new Social Technographics report - which came up with this fascinating segmentation.

    Ladder_3_3

    What do I think this means for real estate? I would argue that in real estate most of the audience now stands on the  lower rungs of the ladder. But that's evolving quickly as more and more real estate professionals become Joiners, Collectors and Critics. Events like the Bloggers Connect conference will hopefully spur even more to become Creators too.

    So what does it mean in marketing terms? Well, if you have a product, service or blog aimed at Realtors you should think about where your most vocal customers (your evangelists) fit. Aim to talk to them using the same tools they are currently using. If your customers are Critics - start a blog. If they are Joiners - talk to them on the social networks. Maybe they are a combination of several segments, so you'll need to do all of the above.

    The same holds true if you're marketing a property - think about who are the customers interested in buying it. If it's a funky condo in downtown LA, for example - maybe you need think about getting a profile page on MySpace or Facebook.

    Steve Rubel says if you're in PR "cut the above chart out and stick it on your wall" - if you're thinking about real estate marketing, I would suggest you do the same.

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