Real estate blog entries tagged with business of real estate by Lane Bailey, Realtor & Car Guy (Century 21 Results Realty)

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business of real estate: Get you Pic on... - 05/31/09 04:26 PM

I have done a couple of surveys of photos on listings in Lilburn, GA. It is pretty interesting to see how many pictures are included on local homes for sale. It is also a bit annoying... because there are still WAY too many homes that aren't being represented well.
Here is some base data for listings in the last 30 days:
12.5% had no pictures. 7.5% had 1 picture. 8.8% had between 2 and 5 pictures. 18.8% had between 6 and 9 pictures. 52.5% had between 10 and 12 pictures. Additionally...
16.3% had virtual tours. FMLS, one of our local Multiple … (11 comments)

business of real estate: My first 'Meet-Up' was this evening... - 05/26/09 05:11 PM

After going to #rebcclt a little over a week ago, one of the things on my 'ToDo List' was going to a Meet-Up. Tonight I had the chance to go to my first... It was a WordPress user group.
I actually ended up instructing. Most of the group were putting up their first WordPress blogs. A couple had put up blogs, but were having issues making them do what they wanted. Ken, the guy that put the group together helped the people that were setting up their blogs. I took over helping the people that were having issues.
It was a … (14 comments)

business of real estate: Exceptionalism - 05/24/09 04:18 PM

There are a lot of real estate agents. The NAR reports over 1.2 million members, and the Atlanta area alone has more than 40,000. It is hard to NOT know a real estate agent. Regardless of where I go and who I talk with, they know an agent. Today at the cell phone store, the clerk helping me has an agent for a Mother-in-Law. There are three in my small neighborhood. There are at least two at my son's pre-school.
The fact is that is is hard to turn around without bumping into one of us.
And there are agents that … (0 comments)

business of real estate: Sign, sign, everywhere's a sign... - 05/23/09 03:27 PM

Real estate listings need a sign. They all have one, right... or at least most... But there is one problem with the ubiquitous real estate sign... it is boring!
I don't like "normal" I like EXCEPTIONAL... Real estate signs aren't an exception. I have long been tired of the same ol' signs... so I decided to do something about it.
I needed an EXCEPTIONAL sign. So... I looked for a solution. A sign that would stand out. I wanted something that would give an interested buyer a reason to stop and actually take a look.
< 1033 Constitution Way Sign 590 … (6 comments)

business of real estate: It's ALL About The Search... and I don't mean Google! - 05/17/09 01:54 PM

Another one of the great break-outs from #rebcclt was about IDX searches. Matt Fagioli took us on a tour of some of the major products on the market. Another interesting voice was David Gibbons from Zillow.
This was a fairly small group, but also quite engaged. There was a lot of participation... and I should have just written down everyone's name... but they ranged from brokers and agents to someone that was a tech guy for an MLS... and David G from Zillow.
Let me hit the bottom line and then fill in some blanks.
IDX Search is the biggest WHY … (3 comments)

business of real estate: Implementation! The hardest part of REBC... - 05/16/09 10:32 AM

That really is the key, isn't it?
We got back last night from #rebcclt (RE Bar Camp, Charlotte). It was a great event. From Thursday evening's social/networking/bull riding all of the way through the sessions on Friday, it went great. We weren't able to stick around for the Friday night networking or the Saturday "Hangin' at the River" portion, but it was a great time, anyway.
Chad and the group of dedicated volunteers did a great job... but now is the hard part for the many attendees. Implementing all of the cool stuff that we learned.
So... of course the question … (6 comments)

business of real estate: But Zillow Says... - 05/09/09 04:23 PM

I know... most sellers at some point take a look at the 'Zestimate' that Zillow produces for their property. And there is almost always one of two reactions...
"Those people are on crack, my house is worth way more than that" (if the Zestimate is lower than expected) "Wow, I didn't know it was worth THAT much... Cool" (if the Zestimate comes in higher than expected) The bottom line is that if it is low, it must be wrong, and if it is high, then it must be right. It is pretty rare for someone to see a low valuation and … (0 comments)

business of real estate: My House is Worth What? - 05/09/09 02:28 PM

I can't think of a question that I am asked more...
What is my home worth? And there as many answers as there are times the question is asked. There are a lot of sources for the information...
Appraisers Real Estate Agents Automated Valuation Models And the results come in many flavors...
Appraisal Comparative Market Analysis (CMA) Broker Price Opinion (BPO) Zestimates There is one thing that they all share in common. They are all opinions. And they are all flawed. That's right... all flawed. They might hit the right value... but if they do, it purely a fortuitous accident.
Keep … (0 comments)

business of real estate: Pre-Listing Inspections for Sellers? Good Idea? - 05/01/09 12:33 PM

One morning last week I dropped by 590 Baltimore Ave in Lilburn to meet with the sellers and the inspector. They were having a pre-listing inspection performed to make sure that everything was in perfect condition.
It is obvious from just walking through that the property has been well cared for during the fifteen years since it was custom built. While I have yet to see a perfect property… even brand new construction… this one ranks pretty well.
When the results become available, we will share them with any interested buyers. Of course, I still recommend that buyers have their own … (6 comments)

business of real estate: That and $5 will buy me lunch, so leave me alone... mmmk? - 04/29/09 04:47 AM

I don't know what it is, but lately I have been hearing from more and more people trying to sell me their services... because they saw me here on Active|Rain. Some are emails, some are phone calls and yet others are a combination.
I know why some of these folks call... And I have actually let a few of them go more than 43 seconds before freeing up my phone for a real call.
Let me tell you one of my favorite...
I got a call from an SEO firm promising to get me on page 1 of Google for my … (7 comments)

business of real estate: Can I tell my sellers it is a good idea to offer seller financing? - 04/24/09 05:34 PM

Looking at the legislative landscape, I see a new danger on the horizon. In addition to the existant dangers of financing a mortgage for a buyer such as their credit-worthiness and ability to repay, there is another risk which could soon be inserted into the pool...
Cram-Downs
If you aren't already familiar with the term, take a moment to read the definition... From the perspective of a lender, it is a scary scenario. In effect, a bankruptcy judge could force down the balance of a loan based on their view of the value of the property.
Regardless of whether the seller … (7 comments)

business of real estate: Who's going to RE Bar Camp in Charlotte? - 04/22/09 04:55 PM

I'm thinking of making the trip... and trying to talk Ken Cook into it, too... It looks like Thom and (the mysterious) Ray will be making the trek from Atlanta... (you guys know that is WAY outside the perimeter, right?)
Is anyone esle looking at making the trip from Atlanta up to Charlotte, NC?
If you haven't been to a RE Bar Camp, it is a great experience. It is billed as the "un-conference" and consists of largely user led break-out sessions. the advantage is the flexibility of the format. Regardless of skill and knowledge level, there are likely to be … (0 comments)

business of real estate: Lightning strikes are not a valid business plan... - 04/17/09 06:38 AM

If you have been living under a rock for the last few days, you need to watch the video...
Go here...
I can't say that I watch American Idol or America's Got Talent... and I'm certainly not tuning into Britain's Got Talent (for geographical reasons... ). But, Susan Boyle has gone global and viral.
This morning I heard a rumor about an American production company looking to fire up a reality show looking for the 'next' Susan Boyle... I suppose they would be scouring churches and school choirs looking for overlooked talent.
There are probably numerous reasons someone like Miss Boyle … (5 comments)

business of real estate: How well are my predictions doing? - 04/17/09 04:02 AM

While wandering through some old posts I ran across one of my prediction posts.
Lane's Top Ten Underdogs for 2009
It was interesting to look over. And I thought it might be fun to take a look at how I am doing on it so far...
10. GM still needs a cheerleader... and maybe a good bankruptcy judge. Despite them putting a couple of brands high up in the JD Power quality rankings... including Buick at the TOP, they are seen as junky compared to some foreign nameplates. I think they are going to end up the year in bankruptcy.
9. … (5 comments)

business of real estate: Doing the Ikky... - 04/11/09 06:32 AM

You might recall about a week and a half ago I wrote a post wondering if I should change the theme (in a BIG way) on my LaneBailey.com blog. I was looking REALLY hard at the Ikarus theme to replace my Shifter theme system. I had been running the Shifter theme system for around a year and a half, and was quite happy with the performance, but after seeing Ikarus, I really wanted to give it a try.
Well, I did it... I made the change.
Yep. I dived in and made the change. I think that my estimates of the … (6 comments)

business of real estate: Think you have time to mull over that house buying decision for weeks? - 03/31/09 03:09 PM

I have a really cool tool called the Client Gateway that I deploy for my buyers. It builds a web site for them with the new listings that meet their needs.
I was doing some maintenance today, checking for messages in the Gateways of a few buyers and seeing if I needed to get further information on properties for them. One of the things I check is properties that are "No Longer Available". The reasons a property will no longer be available are:
The listing has been Withdrawn. The listing has Expired. The home has Sold. The property is Pending Sale … (3 comments)

business of real estate: 5 Great way for Sellers to tell Buyers not to consider THEIR house... - 03/30/09 03:40 AM

Spending a lot of time with buyers can teach an agent a few things that are useful when listing property...
So, here are the top 5 great ways for a seller to tell a buyer to move on and not consider their house. In no particular order:
Require 24 hours advance notice for showings. Many times... the majority of the time, actually, buyers decide on the properties the night before looking at them. Sometimes they have plenty of time to look, but there are always last minute additions to the list. In some cases, they want to look at a house … (4 comments)

business of real estate: WordPress Footer Links... Things that make you hmmm. - 03/28/09 04:02 AM

WordPress themes come in two basic flavors...
Free Not Free Notice that for the second class, I didn't say paid...
Free themes would seem to be pretty self explanatory. They don't cost anything. But, what appears to be free isn't always. Sometimes there is a non-monetary cost. But let's talk about the themes that really are free.
There are theme designers out there that like to design themes. They churn out a theme for themselves for a site and then kick out some variations for the world. Sometimes (usually) they ask that you leave a link in the footer intact that … (15 comments)

business of real estate: What would make the best real estate search site ever? - 03/27/09 04:37 PM

I have been beta testing a new CRM (Client relationship Manager) for SoftRealty, my IDX (Internet Data eXchange… the real estate search utility) supplier for GarageHomesUSA. You can actually click on “Property Search” on the toolbar above and it will take you right there. Basically, they are trying to amp up the quality of real estate search tools.
I have played with it and spent some time trying to figure out what the next step could be… and I have a few ideas… but what I really want is feedback from everyone else.
What would make the coolest search site ever? … (5 comments)

business of real estate: FMLS on FaceBook... with support! - 03/27/09 02:58 PM

Did you know that FMLS, one of the local Multiple Listing Services in the Atlanta Metro Area, is on FaceBook? I didn't... but I noticed that they had a FaceBook logo on the site as I was doing some searches for clients today.
I guess FMLS is moving up in the technological and social networking world.
But, there is something more important than that...
I wrote something on their wall... Something that I have been harping on for years... I wrote a service request. I wrote it at 3:03pm. At 4:17pm I got a message from support answering my comment … (4 comments)

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