Case Study #1: The True Power of the Blog

By
Mortgage and Lending with iWantDocs.Com, LLC

Sunday, February 11, 2007

Case Study #1: The True Power of the Blog



DirectLoanPro.com

This article is in response to yesterday's blog titled:

Nearing the End For Realtors and Mortgage Professionals

Yesterday, I sumbitted the article listed above to http://www.activerain.com/. In case you're not familiar with it, http://www.activerain.com/ is one of the top sites for online real estate and mortgage networking. To say the least, my article proved to be extremely controversal,
as it sparked a debate that has carried over to today. The real estate and mortgage professionals shared some thought provoking opinions both for and against my argument. The discussion.....correction.....debate lasted all day, proving to be my most pivotal topic yet.
I decided to write a follow-up blog to thank everyone again for participating in the debate. The overwhelming response I received was worth every minute I sat in front of my computer yesterday.

Since we all work in the same [housing] industry, whether it's in real estate or mortgages, we're affected by the same changes. The structure of our business forces us to adapt to these changes, both good and bad. With the exception of a couple of participants, everyone contributed strong evidence to support their arguments. I chose a side when I wrote the article and apparantly made it edgey enough to get responses.


 

 

 

 

 

 

 

 

Here's What I'm Taking With Me:

  •  With the exception of a few individuals, most of you are in agreement that the real estate and mortgage businesses will never become fully automated. There are certain steps in both real estate and mortgage transactions that require the presence of a person.

 


  • DON'T USE REALTOR.COM OR ZILLOW.COM, RIGHT? For the record, most of my borrowers know of, and use both of these sites. I've never needed to use them so I just go off what they tell me. You're still welcome to give me other suggestions to offer my borrowers.

 

  • Some people responded by providing facts to prove me wrong. I noticed a lot of responses that were laced with sarcasm, or were attacking me personally. There were too many holes in my argument to just let me win that. If I was a potential client reading that dialogue, I'm would hire the person who used their knowledge, as opposed to sarcasm.

My favorite response would have to be from Jay Merton. Jay proved you can win an argument and still be a gentleman about it.



I had fun with that. It's going to be hard to duplicate that passion next time around. ActiveRain.com definately has some thinkers here. I'll have to find a different topic for us to but heads over. Talk to you soon!


 

Here are some of my favorite comments:



"I simply had to come back for a visit, just to see the comments you received. In my first comment I wrote: "If your intent was to make a splash with a provocative topic-you may have succeeded!" I expected you would receive some very negative comments from some of our members (and unfortunately I was not wrong in that expectation), others would politely disagree and add to the debate, some applied humor to the debate and some thought it thought-provking.

I was pleased to read your replies to
the comments-with good grace and humor: "Touché."

That your post was featured is no surprise to me-it deserved to be featured! Some members disagreed with your original premise and could not imagine why a post they disagreed with should be featured. This makes no sense what-so-ever to me. How boring the ‘Rain would be if we all agreed with
one-another!

-Jay Merton





"I don't agree totally. A shake-out is on the way. Any REALTOR who thinks that s/he will be unaffected by the increased availability of real estate services on the Internet is delusional. Just like stock brokers in the late 90s who said that etrade.com and other web stock brokerages would soon be extinct. However, just as the best stock brokers survived the rough years in the market since 2001, so will the BEST REALTORS survive the evolution of our business. "

-Darren C. Douglas




"As TLW has commented many times before. Your computer can never take the place of a good advisor.

Sure, computers and fancy websites will forever be an intrical part of the process and I'm sure there is some percentage of buyers that may prefer to work in the virtual world, but for most people buying a home is a touch n feel transaction. They want hand holding and reassurance that their doing the right thing.

However, I would be remiss if I didn't point out that the travel agency business was once a thriving business in the pre WWW days. Then came Orbitz, Priceline, and the Travelocity's of the world; and this industry has all but ceased to exist.

The real estate community needs to embrace computers and the web for the value they add and recognize that the true value resides in the knowledge and understanding of the truly qualified realtor or loan officer. "


-Martin Rodruigez





"If I go down I'm taking the car sales people with me. "

-Greg Cremia

Comments (7)

E.T. Home Loan
iWantDocs.Com, LLC - Claremont, CA

                   Let's do it again some time....

 

 

 

 

 

Feb 11, 2007 06:05 AM
Boomer Jack Boardman & Carl McIntyre, the Codgers
Noted Curmudgeons - Saint Paul, MN

Jon, Feel free to stop by our place on the ’Rain, and have a virtual mug of organic and shade-grown, fair trade coffee.

Jay & Medford
Feb 11, 2007 07:42 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sorry Jon.  You were only half right.  Loan officers are already obsolete.  Their job can be done totally on line and already is. 

Real estate agents and brokers, however, bring much more to the transaction than mere money.  Folks have been predicting the demise of the real estage agent/broker and real estate brokerage for as long as I can remember. 

Got a LOOOOOONG way to go.

 

 

Feb 11, 2007 07:47 AM
David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City

This was fun to watch. Property has been sold and financed for a few thousand years, and a middleman has not been unique. Your assumptions are true to some extent. Over the past 30 years I have seen a lot of people come and go in both industries; however, the successful ones earned their keep and parties on both sides of the transaction have been winners.

The intelligent choice of those wanting to maximise their return on investment has been to choose professional assistance. Even billionaires hire agents.

Feb 11, 2007 08:52 AM
E.T. Home Loan
iWantDocs.Com, LLC - Claremont, CA

Good point.  You could even take that one step further and say......In in the event that our numbers do start tapering off, will our services be something that's only offered to the rich?  I'll tell you that if I was filthy rich, you better beleive I'm hiring a realtor.  On the flip-side, people with less money might find it more valuable to do it on their own (when the resources are available, of course). 

Feb 11, 2007 09:09 AM
Cynthia Sloop
Community Association Manager - Indianapolis, IN
Well Jon you did bring up a lot of comment with your blog!  Congratulations for that and allow all of us to speak our mind.
Feb 11, 2007 12:09 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 We invite you back to ActiveRain.  Log back in, leave some comments, or write a blog post!

Sep 24, 2017 06:26 PM