Market bottoming? - 06/30/11 11:11 AM
Homeway, Inc. a website went public yesterday and the stock soars.  George Lucas tears down a $20MM dollar estate to build a new home with new technolgies.  Home and property prices have been cut in half (in some markets).  Brokerage firms are empty and the traditional business model is running on fumes (see Homeaway IPO).
Is this the start of something good (for those getting into the business and markets)?
We believe that after Zillow follows up with its own IPO - the business will finally wake up and see that more and more of the actual business will be done … (0 comments)

NAR says target a "niche within a niche" - 06/20/11 12:47 PM
We knew that targeting and developing business within a niche helped to separate us from our competitors but NAR says it's even better to "find a niche within a niche".  They say the niche should be “large enough to supply a strong pipeline of business, but small enough for us to be a big fish in a little pond”.
Wouldn’t it make sense for our brokers to control a local business niche for their agents – or at least make the attempt?

… (3 comments)

Got $ - You'll want a home. - 06/15/11 12:25 PM
Just read a rather interesting article about the surge in activity and valuation of Silicon Valley real estate.  In May, the article states, homes prices are up 20% from a year earlier – wow! 
It seems that when funds/money/capital loosens up people still gravitate towards buying a home.  Big houses, small houses, old or new – we all want a place to live, somewhere to keep our stuff, relax, cultivate, propagate and simply enjoy our lives.
The fact that areas like Palo Alto are resurging should be great news and validate the reasoning that as capital/money becomes more available (either through … (1 comments)

Just get the deal done! - 06/13/11 12:26 PM
I heard an agent say this morning, “I’m finally feeling that the business may be coming back”?
At our brokerage, we have had that feeling for a few months now.
IMHO, many markets are finally working through price discovery, and as real estate professionals, our job is to help facilitate the clearing process.  We may have passed a point of inflection – let’s keep up the pressure and get our deals done.  Push hard for a “meeting of the minds” and get through any excessive inventories.
This is work and good healthy social work at that.  We (Realtors) get a bad … (1 comments)

Don’t most people just move down the street? - 06/09/11 01:46 PM
If about 70% of people move within 15 miles of their existing residence, doesn’t that favor some kind of “for sale buy owner” marketing strategy? 
Sure, a “fsbo” sign in the yard or ad in the local newspaper won’t likely reach the out-of-town buyer – but the odds do favor a local buyer.
 
Are any brokers or new models addressing this opportunity? Wouldn’t creating local pools (databases) of buyers and then offering sellers access to those buyers directly be a viable model for real estate transactions?  It seems like the odds favor the model.
http://teardowns.com/agent_program - agents
http://teardowns.com/exclusive-listing - sellers
  … (2 comments)

What makes your (or my) business different – no, really different? - 06/08/11 02:08 PM
This should be an easy question for all of us licensed real estate pro’s to answer.
If you (we) had to write down the unique services that only you or your brokerage offered customers – what would you write down? “Better service” shouldn’t count.  
If this is a tough question - the business is in more trouble than we think.  Low cost and differentiation is the key to long-term business survival.  Are we as an industry pursuing that goal?  If not, why not?  If we are, please share.
Thanks,
Brian Hickey
http://teardowns.com/

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It's all about listing. - 06/07/11 02:17 PM

As soon as buyers get hip to how commissions work and property information becomes even more abundant online - won't taking listings be the only reliable and dependable revenue stream and model for an ongoing sustainable brokerage?HP doesn't need Apple and Papa John's would love to see Domino's take a fall.  Are there too many cooks in the transaction kitchen?
 http://teardowns.com/agent_program
 
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teardowns - buyers want them and sellers have them - 06/06/11 10:44 AM
Let's say your in a market where homes are being redeveloped.  Could be inner-city Detroit or Beverly Hills - the point is:  who do buyers and sellers contact when its time to transact?  It could be you.  The infill new construction cycle will never end - good economy or bad.
New technologies and amenities are available, the price for infill lots has come down.  New is still a preference on many buyers wish list.  Some are arguing that if times get worse - even more homes will become obsolete and in need of replacement?
Corner this market.  What agent doesn't want … (0 comments)

 
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Brian Hickey

Hinsdale, IL

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Address: 53 Ogden Ave, Clarendon Hills, IL, 60514

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