Feb

6
2009

Reassessment Scam?

Housing meltdown means more property reassessments, and that apparently also means more scammy letters trying not so gently to pry your money away from you.

SF MetBlogs reports on a letter they just got in the mail that charges $179 (more if late!) for a property reassessment. You can, of course, get your property reassessed for free by the city, but isn't it easier to pay someone else to do it for you? [SF MetBlogs]

View at Curbed.com.  more...

Feb

5
2009

5 ways to monitor your online reputation

The explosion of social media use has meant that online reputation management is becoming increasingly important for companies of all sizes; and in certain cases, even important for individual real estate professionals.

Wendy Forsythe wrote about the need to manage your personal brand on the Better Homes and Gardens Real Estate blog today that nicely sums up the reasons why.

So, how do you deal with getting started managing your online reputation?  more...

The dying paradigm of 'us' vs. 'them'

In the past 25 years that I have been in the residential real estate industry, I have become mildly amused at the cyclical nature of our business. First, we have the market cycles in which we ride giddily on the waves of success due more to the market and less to our own business plan. For years, we float joyfully on the crest, buoyed comfortably by the steady stream of visitors to open houses, calls triggered by our yard signs, and eager responses to our marketing.

After a time, we start to get a tingling sensation down our spine, or maybe the hair on our neck stands out a tad more, as we begin to sense that things may be changing just a little bit.  more...

More Illegal Hotels

While many developers are now renting out unsold units as hotel rooms, most don't talk about it to the Real Deal because, um, it's technically illegal (zoning and permits and all that jazz).

But one Cardinal Investments partner is happy to explain why the company is advertising units at Murray Hill's SHoP-designed m127 and 17 Orchard Street on the LES on a vacation-rentals Web site: "You've gotta pay the mortgage, you've gotta keep the lights on."  more...

Feb

4
2009

Live The Box: Shipping Containers Unleashed

Rendering by <a href=http://www.rmjm.com>RMJM</a>.

Ever wanted to live in a neighborhood of shipping containers? Live The Box, a New Jersey-centric design competition to create neighborhoods out of shipping containers, set out to answer your dreams.  more...

Managers worth more than $50 a deal

A number of years ago, while transitioning from agent to management, my manager called me into his office. I had been appointed to one of the top offices as an assistant manager and was just winding down my listings and deals. The manager had just completed an exit interview with an agent who he had brought with him when he was recruited from another company.

He was most distraught, as the agent was leaving to one of our competitors -- a competitor that had a good reputation and a great mentoring manager. As my manager retold the story to me, they were offering a higher commission split, but it truly did not amount to much.  more...

Feb

3
2009

Construction slump to last at least 5 years

Re: 'Home construction spending falls 53% from peak' (Feb. 2)

Dear Editor:

There certainly is no surprise in the 53 percent decrease in residential construction spending from the high point in March 2006. The decline in new construction will continue for at least five years as a result of a number of factors.

Excessive inventory of new homes: The real estate frenzy led to the construction of more housing than was actually needed to meet the demands of the population. Much of the residential construction was developer-driven as opposed to being driven by market demands. There are gluts in a couple of property types, most specifically in the "McMansion" and overly large homes designed for the upwardly mobile as well as in the condominium arena, which was fueled by speculation. Each of these was supported by easy credit, and both feature an inordinate number of foreclosures or developer sell-offs at below-market values.  more...

Consumers follow agents, not brands

There is no doubt about it: As real estate professionals we are experiencing a perfect storm. A collision of a credit crisis, falling housing prices, financial bailouts, and a housing market with no foundational support. America is literally reinventing itself. Unfortunately, given the magnitude of these events and the policies that must be instituted to reshape them, we are reinventing ourselves reactively rather than proactively. Future generations will reference the events that have shaped the real estate community during these recent years as the worst in decades. As a result, the business model that is still adopted by today's real estate brokerage will have to be reinvented as well.  more...

Feb

2
2009

Make the MLS a pure marketing tool

Re: 'Sending out an SOS over MLS entries' (Jan. 28)

Dear Editor:

The assessment of the multiple listing service today as a marketing tool, literally to the world, is spot on. But then we need to treat it as such and allow it to be used to the best advantage for that purpose.

Many of the current, standard multiple listing service rules are not addressing that reality and continue to act as if it was meant for real estate professionals' use exclusively. An example of this is the restriction on including URLs that would take the individual to another site to view additional information about a property.  more...