Special offer

RealEstate.Com…. Déjà Vu, Or Better Than Sliced Bread?

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

As we all know, Market Leader shelled $8.25 Mil to buy this domain: RealEstate.com. I wrote about RealEstate.com in RealEstate.com Gold Rush

I am curious, and it means I have questions… quite a few of them. I ran into several posts about RealEstates.com after those written by Niki and Bob Stewart.

RealEstate.com...Deja vuComments on Niki’s and Bob’s posts are different from comments on other posts (including mine). They are less confrontational. Other blogs pretty much are all negative, and plain angry.

Does this mean that “buying” a city is a bad idea? Maybe. At the same time there are several members who “bought” their city, and they are not clueless newbies. For example, Katerina Gasset bought Wellington, FL. Nobody can call her clueless. So, she (and some other people) see value in it?

Can there be value in “buying” a city? Maybe…

I understand one thing for sure. If we do not buy, it will be open to anyone out there. What would we feel (and say) when we suddenly see that “our” city has been bought by someone smart like Ben Kinney, and who then will be giving you referrals, that he would be getting from being a featured expert?

Or there will be a company, which would pay $79 or $149, or $249, or $449 a month, and then would do referrals for 25% of the listing side? Or even 30% or more, as in our business we do not want to pay $50 for a lead, but would not have a problem to pay 30% for a referral for as long as we do not pay until we close.

At least for me there would be no problem saying “yes” to a telephone offer of a referral for 30% of one side. Yes, I would not have a problem paying $1,500 or $2000 on a $200K transaction, and I would say no to a $50 per lead offer…

 So, if these guys would be able to get 2 referrals out of this, they will be way ahead of the game.

What would we say if this happens?

And the last. I can understand that we can say “yes” and buy, or “no” and move on, but I am not sure I understand the angriness with the whole reaction to RealEstate.com. What are we so angry about? The guys bought a domain, paid cool $8.25 Mil, now they want to sell something (cities) and make money.

What is wrong with this formula?

It seems that AR community for some reason thinks that we were supposed to get a sweeter deal, or something for free, and it is not happening.

We still can vote with out wallet.

So, vote, but no reason to get angry. They did not pay that much money to entertain us.

Photo via Flickr.com by ivanpw

Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Jon:

I agree that we need to tone down our blogs about Market Leader and RealEstate.com.  Their services are being offered to us for a price.  We may or may not want to participate. No one is hold a gun to our heads.  I personally am not able to purchase my City now, but if it is still available, I may want to purchase it in the future.  My choice.

Dec 10, 2011 10:10 AM
Ronald Curtis
Sapphire Associates - West Palm Beach, FL
Negotiating the best price and terms for my Buyers

Hello Jon.........

At last...a voice of reason.

The majority of blogs written for AR are self-promotions. The reward is gaining points. I am not sure how much money these points would sell for on the open market????? Having the most points, doesn't automatically make one the most important Guru in their designated market. We live in a free country and have the ability to pick and choose. If we would all live by the "Golden Rule", we would be much happier.

RJ

Dec 10, 2011 10:48 AM
Nina Rogoff
Boston, MA
Wix Websites for Real Estate Agents

Excellent perspective, Jon. There is no reason to respond with anger.

I think it bothers people to think that they are working hard to create an online presence on the internet. Then a company comes in that will garner more "google juice" and is selling something "back" to the individuals. Plus, it seems that we're always being bombarded by companies to buy a "presence". There is a sense of "urgency" generated in the calls and emails from these companies that implies "if we don't act now we'll lose out". If you're not super knowledgeable about the internet and internet marketing, that urgency can make you feel a sense of having something taken away from you if you don't pay up. I'm guessing this is what leads to the anger.

Dec 10, 2011 11:06 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Evelyn - I gues to certain extent it feels that AR community is at a los as to how to understand our CEO Niki Paresh, who said that there is no plan to somehow associate Realestate.com and that would be detrimental to RealEstate com, as there are some huge problems with AR.

Really fascinating

Dec 10, 2011 11:11 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Ronald - yep, this is all about money after all. Actually, offering it to AR members with most points is quite a gesture from AR, they do not have to do  it.

Dec 10, 2011 12:26 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Nina - I sure can inderstand their frustration, but no matter how they feel about Market Leader, these guys have no obligation to AR members.

Dec 10, 2011 12:27 PM
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

I wrote about the realestate.com program, but I wasn't angry. I look pretty carefully at any program that wants a commitment of money from me without a commitment of service from them. 

 

Dec 10, 2011 03:35 PM
Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers


Dear Jon -
I think it is purely a problem of lack of communication.
Had AR - meaning Niki or Bob - sent out a short blanket email BEFORE THE CALLS STARTED to all 217,000+ members giving a heads up that the OWNER of ActiveRain was giving an advance opportunity to AR members before a new product went public - that would have alerted everyone that the phone calls would be coming.  Everyone on ActicveRain is a business person. Each AR member understands about a company's need to make money to survive. Not a new concept - is it? Just let the AR "family members" know what's coming ...
Have a happy day -
Lynn

Dec 10, 2011 04:19 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Leslie - and this is an absolutely meanigful approach. There are too many unanswered questions, so asking them is absolutely fine. Getting antsy just because it is not offered to us for free is absolutely different

Dec 10, 2011 04:47 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Lynn - point well taken, thank you.

If you think about it, it is pathetic. AR arrange the product promotion for quite a number of causes and companies through their challenges, and somehow we ended up with a short end of a straw

Dec 10, 2011 04:49 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

My question is this (and not just about RealEstate.com, but others that sell leads):  If these leads converted at a good rate, just think how much money could be made on referrals.  These are not dumb companies and they have chosen not to go the referral route.  Does that mean they don't have that much faith in their leads?

Dec 11, 2011 12:45 AM
Broker Nick
South Florida Real Estate & Development, Inc. - Coconut Creek, FL
Broker Nick Relocation Broker Service

Featured Post Silent Majority - This post is now featured in Silent Majority Group of Active Rain!

Dec 11, 2011 01:03 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gabe - I personally kknow one guy, who is selling leads to moving companies. I was telling him about companies selling leads to real estate and I said the same thing.

he laughed at me. He said it has nothing to do with waulity of leads. He said he would not do a referral, ever, even if the referral means thousands of dollars and leads only $15.

It is simply a different operation. He is running his on autopilot. It takes him 1.5 hours a month. He has one person, who is helping him. He is not an American, and his helper is not in America.

To do referrals would mean a huge overhead right away.

Dec 11, 2011 03:32 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Nicholas - thank you

Dec 11, 2011 03:33 AM
Karl Hess
Keller Williams Shore Properties - Barnegat, NJ
on The Jersey Shore

It appears Market Leader, with it's majority owenership of AR, the purchasing of RealEstate.con and SharperAgent.com along with it's partnership with Keller Williams is making a push to be the dominate player in the marketplace. 

Dec 11, 2011 04:58 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Karl - yes, looks like they did a marvelous acquisition offense and really positioned themselves in tis market.

I think I noticed in one of the official blog the phrase that Market Leader has now 100% ownership. Not sure how accurate this is but I would not be sirprised.

Dec 11, 2011 05:17 PM