Business name: RealEstateOpens.com
Owner: Jay Budge, Broker, CRS, GRI
Type of business: Real Estate Internet Marketing
Number of employees: 3
Location: Mendota Heights, MN 55120
Contact Information: jaybudge@realestateopens.com
651-356-8860
Presently REALTORS can personalize all their Single Family listings for FREE for a limited time!
1. Tell us what your business does?
RealEstateOpens.com encourages REALTORS in Minnesota and Western Wisconsin to personally identify the single family homes they're marketing to the public. This enables buyers to contact the identified listing agent with their questions.
2. What makes your business unique?
RealEstateOpens.com encourages buyers to contact the knowledgeable listing agents directly with their questions in one convenient location no matter his or her broker affiliation.
3. How are you financing your business?
The startup cost and monthly fees are presently out of pocket. As an agent incentive, I've allowed ALL agents to personally tag their listings at no cost. ("Tagging"- Agents' ability to display their own photo, phone numbers, e-mail, personal or company website, supplement, comments, photo panorama, and company logo with their Broker's listing). Future revenue creation will be through referral fees and reasonable agent tagging fees. Check site for present details.
4. Why are you launching it now?
All functioning components for the site were completed and the need was still present. Now buyers and agents have a valuable marketing tool and resource for buying and selling homes.
5. Where did you get the idea for your business?
First, I had several discussions with fellow REALTORS about the Internet and its impact on real estate today. According to the Minnesota Association of REALTORS, in 2007 "39% of buyers found the home they purchased on the Internet". This was the highest overall percentage category studied. Second, as an experienced 25 year MN REALTOR with technology understanding, I wanted to provide a website that was simple to navigate, informative, and allows buyers to contact listing agents directly in one convenient location.
6. How did you develop your business plan?
I read in the St. Paul Pioneer Press on May 25, 2005 that the Small Business Development Center located at the University of St. Thomas in Minneapolis was offering free counseling and guidance for entrepreneurs. Under the SBDC guidance, agent and buyer questionnaires, and local, state and national real estate resources, I completed my business plan.
7. How do you see current economic conditions affecting your business?
We all know what has happened in the housing market and REALTORS have been looking at their marketing dollar expenditures very closely. At RealEstateOpens.com our goal is to create value which allows agents and buyers to put more deals together.
8. What was the biggest obstacle you had to overcome to get this business going?
The obstacles truly were putting the idea on paper, hiring a website development company, and then verifying its function.
9. How did you overcome the obstacle?
There are always obstacles in everything we do but starting RealEstateOpens.com expanded my knowledge and sense of accomplishment. It's also my attempt as a local REALTOR to improve how we conduct real estate in our area.
10. What will tell you the business is successful?
Hearing REALTORS express having had great success putting deals together based on direct buyer contact through RealEstateOpens.com
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