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Transparency Creeping Into Our Lives As Well As Into Real Estate

By
Services for Real Estate Pros with Zillow

I often write about transparency on the Internet, and am usually all for it.  But tonight I just watched the show  Moment Of Truth, where people are asked very personal questions and they get money for answering them honestly- whew, tough (don't waste your tivo space on it).  But the fact that this show exists, and that people watch it, further reinforces the type of transparency and access to information that people desire and expect in this day and age. 

When I think of other examples of total transparency two immediate examples come to mind:

1) Inman News Conference - Twice a year people pay hundred dollars plus the cost of travel to attend Brad Inman's news conferences in San Francisco and New York.  Interesting content is created by the speakers, panelists and audience.  Then what does Brad do with this valuable content when the conference is over?  He gives it away!  The weeks following the conference Brad features various sessions on his site, totally free to the public.  Is he worried that by giving away this valuable content people will quit attending his shows?  A 1.0 answer is yes.  A 2.0 answer is no.  Brad is a smart guy, if doing this would hurt his profit margins, he wouldn't do it.  But Brad knows that by being totally transparent about the types of conversations and debates that happen at the conference he can spark interest and potentially attract even more attendees to his next show.

2) Today in USA Today I read how Random House let readers download all 432 pages of Charles Bock's just released book, Beautiful Children for free the first three days it was out.  Further, this downloaded book could be emailed, shared or printed.  Aren't they worried that by giving away the farm this will hurt sales?  In the month that they book has been on the shelves, it has sold 12,000 companies, a good sales amount for a lesser-known author.  In the article M.J. Rose, who runs www.authorbuzz.com a marketing company for authors says, "we found we were selling more, not less, copies of the books we were giving away". 

Today people want all the information.  They want it on their terms.  They want it now.  And they want a lot of it for free.  Does ability for home buyers and sellers to collect mounds of data on their own ultimately cut into a Realtor's business?  If we answer that question based on the principles of the above two examples, the answer is no.  And if fact, when putting transparent, honest and interesting content out there on the web, it appears you get it back in spades. 

So for all you out there who bank on not displaying a listing address because you want the person to call you for it, this is something to think about.  I can guarantee doing a full disclose of your property listing details will be much easier to disclose than some of the question this  poor women had to answer on national television!  Ultimately though it paid off big for her and she won $100,000.  It can pay off big for you too. 

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Angela Clark
Tony Clark REALTORS - Owensboro, KY
CRS, Realtor, Broker
Sara, You are right on: the more informatin we can provide to today's buyer, the better.  I always provide the price and address in my ads... It saves both the buyer and I valueable time. 
Mar 06, 2008 07:43 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Sara, Giving out the price and address isn't about transparency, it is about sound marketing, and as Angela says, time management.

Bill Roberts

Mar 06, 2008 07:50 AM
Sharon Harris
Keller Williams Keystone Realty - Hanover, PA
Realtor
I agree . Anything to save both the buyer and my company time. It just makes sense...
Mar 06, 2008 08:41 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth
Sara, I too have found that the public does not want this deathgrip control on information. But then again think about MLS info. That's pretty tightly guarded isn't it?
Mar 06, 2008 09:01 AM
Martha Brown
Long & Foster Real Estate, Inc., Annapolis MD 21403 - Annapolis, MD
Your Homes Around Annapolis Agent
I agree as well. It always makes sense to display address and price. Buyers get discouraged easily and just move on to the next house. No big deal to them at least not in todays market in my area. Besides, is our listing a secret or an actively marketed piece of real estate for sale?
Mar 06, 2008 10:00 AM
Sara Bonert
Zillow - Atlanta, GA
Real Estate Internet Marketing

Gary- Yes, it is.  There are a handful of progressive MLSs in the country that have figured out ways to distribute the information in a way that is a value proposition to its due paying members- but there is still a lot of room for growth. 

Martha- Ha!  Good point!

Mar 06, 2008 11:33 AM
Patricia Beck
RE/MAX Properties, Inc., ABR, GRI, SRES - Colorado Springs, CO
Colorado Springs Realty
great post Sara.  I think clients really do like working with people who are transparent, not sneaky or sly.  Consumers need to be educated and if anything, I think it will increase business for Realtors.  Giving away information or a product for free always gives back in the long run.  Look how busy Whole Foods stays and they offer more free samples than any other grocer in my city.
Mar 06, 2008 02:46 PM
Jacki & Jerry Shafer
The Shafer Real Estate Team, Keller Williams Louisville East - Crestwood, KY
The Shafer Team, Call 502-643-SOLD

I concur with both your post (brilliant!) and most of the comments; Patiricia Beck is right on when she says people won't work with agents who seem sneaky or sly.

Honest, open communication and full disclosure goes a long way, and word spreads that you can be counted on.

Thanks for the post.

Jacki

 

Mar 06, 2008 11:09 PM