Posted by Tina Fine on Tue, Feb 21, 2012 @ 01:28 PM
A lot of discussion in blogs has surrounded the value of syndication and ZTR. Some hold the view that getting th
e biggest exposure to a listing benefits the seller, others feel that the costs do not justify the increased leads that the costly exposure is supposed to provide. I think it's time to think about what the goal of syndication is in a new way.
Syndication is about getting exposure for a seller's listing. But it's like an arms race that no one is winning. People are doing the same thing, throwing money at more and more expensive ads, trying and doing the same thing, and it just escalates, more and money thrown at ads, all people walking the same path. It doesn't work. I suggest to start thinking about new crazy ways to set up the "real estate information market."
What about a national MLS? Wouldn't that be better-- better for sellers and for buyers. The organizations already exist, why do you all need to waste ad dollars. Let houses be found on one database. Stop the arms race, no one wins but ZTR, and they may one day be one company, wouldn't that be crazy?
Posted by Tina Fine on Fri, Feb 03, 2012 @ 07:10 AM
As recent discussions surrounding listing syndication heat up -- with some firms (Edina, ARG ) deciding to take their listings off third party sites-- I began to wonder what if they didn't? What if certain third party sites like Zillow or Trulia grew and grew and became the places where more and more buyers went to first. Would they become targets for search and social Goliaths such as Facebook or Google?
Much of what real estate brokers do falls into three broad areas areas -- “search" "matching” and “transaction.” Trulia and Zillow are good at search, but they do not match people up directly, they pass leads on back to brokers.
Syndication is only about Search. And the future of the industry is in Matching -- that's why I built homingCloud.
It seems to me that Google could be quite good at matching up what people have with what they are looking for. Combine listing data that Google could get from buying Trulia , Google Plus Profiles that contain information about what property people are looking for, maps, and hyperlocal data, and Google would be a great matchmaker.
And Facebook would also be great at getting people matched up. Facebook pages could have people declare if they are looking for a home or if they have a home. If Facebook had Zillow listing data they could place ads for listings on the wall of persons looking for that type of home. And if people had part of their profile page dedicated to their home for sale, they could or their broker could interact directly with buyers who ask questions, update photos, etc, all on the Facebook platform.
It seems natural for "social and search platforms" to enter into the real estate matching arena. What do you think? Do you think the Zillows or Trulias would fight off Google and Facebook. Could they? Would it be good for the average brokerage firm if all search and matching took place on Google or Facebook? Maybe HomingMatch is the answer.
Posted by Tina Fine on Mon, Jan 09, 2012 @ 07:29 AM
Two websites, one that says you don't need a broker, one that understands you do, created by the same person. How is that possible? Well some people use a general contractor to renovate, some hire subs on their own, some want to go to the gym and know what machine to use and some need a personal trainer, some people use a personal shopper, wedding planner .....the list goes on, but some know exactly what they want.
Ford makes different types of cars, and Ralph Lauren has different clothing lines and brands, and we all know how many different kinds of cereal are on supermarket shelves.
People are all different, some can sell without a broker, but they didn't have access to information about what is for sale. That's what homingCloud wanted to provide. Some can buy without a broker but they didn't have the opportunity to do it without the MLS. So homingCloud provides a platform to free up market information for the do-it-yourselfer.
Then there is HomingMatch -- it is in-between -- another variety, where the broker will let buyers and sellers go it alone but will watch from a distance. HomingMatch is the middle ground, bringing choice and variety to the marketplace, but realizes that some people need advice and help.
Consumer needs vary and the marketplace can supply both types of brokerage service... HomingMatch and homingCloud and traditional brokerage can coexist.
Posted by Tina Fine on Fri, Oct 28, 2011 @ 09:50 AM
Your agents are very busy. You get a lot of people looking for houses and people thinking about listing and you are trying to keep track and keep engaged. What if there was a way to keep potential listers involved with your agents and your firm? What if there was a way to offer potential listers a way to become educated? What if there was a way to give some clients a chance to do some of the heavy lifting freeing your agents time and reward them with a cut in price.
It's called HomingMatch -- a platform that is just like homingCloud but for you company. Here's how it works. A person looking to sell a home walks in the door. They learn about your company but they are just not sure. They are about to walk out, but you tell them about creating a Pre-Listing Post on your company's HomingMatch. They sign up on your website, they start to meet potential buyers. If they find a match, they can come back to you, and for a reduced commission, you help them with the rest of the transaction.
Want to know more about HomingMatch? just click below. The real estate landscape is changing. It just make sense to engage your clients and offer some brokerage services options.
Posted by Tina Fine on Tue, Oct 25, 2011 @ 12:18 PM
Innovations can disrupt Industries. When I wrote my dissertation on "Innovation, Concentration and the Residential Real Estate Brokerage Industry" before the internet was in existence, I charactertized the types of innovation that would bring needed competition and variety to the market. With the rise of the the internet, the cultural shift to social sites, and other factors as well, I knew the time had come to disrupt. So "What Would the Economist Do? It made sense to create a matching platform, where home owners and home seekers could search and match up directly online, without brokers.
I'm not the only one to think this. Consider the the following passage from "What Would Google Do" by Jeff Jarvis, c2009 HarperCollins Publishers, p.330
"We need to replace the system. If tomorrow we all listed our homes on a craigslist or an equivalent, we would pull the rug out from under the MLS. Some real-estate agents-- the smart ones-- list homes in these alternative databases today. Shoppers may also list their desires to buy or rent homes or find roommates (as happens on craiglist), and somone- say, Google-- could write an algorithm to link seekers and sellers directly making the internet itself the marketplace."
Well Google doesn't need to do it anymore -- cause homingCloud.com is that marketplace with a great fuzzy search matching algorithm to link seekers and sellers.
Posted by Tina Fine on Wed, Oct 19, 2011 @ 01:42 PM
HomingMatch is an enterprise matching platform that puts home owners in direct contact with home seekers. But why would a real estate firm or broker want a HomingMatch platform? Cause I believe it will get you clients.
Some sellers may not be ready to list with your firm. They may be starting to look for an agent, or the right firm, and just not sure yet who to list with. What can differentiate you or your firm? A flashy website is good, and a fancy office is nice, but what about building a relationship with them? You’re not gonna be their Facebook friend right away, but think about a company branded HomingMatch platform as a way to start to get to know a buyer or a seller. It's like Facebook for Real Estate.
When you meet a buyer or a seller, tell them they can post about what they have or want on their own on your company HomingMatch, and get them engaged and interacting with your company, your brokers/agents and your in house listings from the start of their journey. Then when they are ready, this may just give you and your firm a leg up on getting the listing or their loyalty.
You could join in the converation, or just be standing by with answers. Buyers and Sellers who are using the platform can tweet and post on FB about it too. You may ask... what if they find a buyer before they list? Well that is a possibility, and you may not get the returns, but what did you invest? They may have gone to another agent. But if you get them involved with you and your company, probably only a certain percentage are Do It Your-Selfers, and only a small percentage of them will succeed on their own. Ultimately, many will end up your client.
Have you been trying to get social media to work for you?... well a HomingMatch Platform may be the right social tool for real estate yet.
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Posted by Tina Fine on Sat, Oct 15, 2011 @ 09:31 AM
I was playing with Siri on my 4S this morning and then I remembered the most recent post by @1000watt on the future of the MLS and then I thought? let's see what SIRI has to say about real estate in Chappaqua!
I asked "is there a three bedroom house for sale in Chappaqua?" and SIRI answered "this real estate agent is in chappaqua."
Well guys, here you go. Maybe some real estate sites have this, i don't know. But just get accurate timely MLS data on everyone's smart phone with a Siri - cause everyone is gonna love it when they use it - and you are gold. There's the innovation to bring life to the MLS.... but I'd love to get SIRI to respond with homingCloud posts :) !
Posted by Tina Fine on Thu, Oct 06, 2011 @ 01:35 PM
The Council Of Multiple Listing Services is meeting, and the words of the late Steve Jobs got me to thinking it was a good time to blog about the future of the MLS and brokers.
At some point, when brokers spend more and more of their own profits to advertise on large aggregator data sites than they do on their own sites brokers will realize that something is wrong. Advertising dollars just makes those large aggregator sites better, get more eyes, and then brokerage firms have to spend even more to advertise on those sites to attract buyers. Ultimately those sites who are feeding on MLS listings will win because home owners and home seekers want to be on the biggest, coolest site. Pretty soon they won't need MLS at all, people will go directly to the site.
What if the MLS did something really foolish? and decided to break down the walls, and transform the MLS system to one national free matching site for all home owners and home seekers? Home owners and home seekers could create on their own, or have brokers create listings, about what they have and want, match up and communicate directly. The MLS can level the playing field across listings by making the data uniform for all listings-- no airbrushed pics, everything standard. Charge a small fee per listing, small enought to run the site. If the MLS transformed, then the thousands and thousands of dollars spent on advertising, on sites like Trulia/Zillow would be saved. Those who want to sell/buy without a broker will be happy, and those who want full service brokerage will be happy, and the only ones unhappy will be large data sites that have been feeding off the hard work of brokers.
Posted by Tina Fine on Fri, Sep 23, 2011 @ 01:46 PM
There have been some amazing innovations in real estate that have benefitted brokers and home owners and seekers, but none of them will disrupt the brokerage industry because the broker is the sole creator/controller of market information.
Home seekers can now create robust queries and be put in contact more efficiently and successfully with properties that best match what they are looking for. New real estate sites have faster search, help people manage the search results, and allow inclusion of hyperlocal data. But these innovations do not translate to disruption since they do not challenge the status quo value principle either by a reduction in the cost of brokerage or permit a lower quality service.
Controlling information is the key to disruption in Real Estate Brokerage. homingCloud is truly disruptive. It gives for the first time, on a national scale, control and creation of market information to the consumers of that information. This allows the "information services" that brokerage creates via listings and MLS to be split from other professional and transaction services. And by breaking the "brokerage bundle" - commission based pricing is called into question. That is disruptive.
Posted by Tina Fine on Tue, Sep 13, 2011 @ 09:15 AM
homingCloud is going to be ONE! tomorrow September 14. And it got me thinking about my kids and how a launch anniversary has a lot in common with a child's first birthday. Here are a few of those thoughts.
During the first year of being a mom, it is natural/common to compare your little baby to other babies -- why isn't my baby walking? why only 13 words when that baby next door knows 20 words? why can't my baby sleep through the night? I did the same with homingCloud. Why didn't homingCloud have as may users as those other sites that launched at Demo? How come homingCloud hasn't gotten media attention? What is wrong with my (baby) site!? Then I realized that there is no "normal" for a start-up, no growth charts, or even data to say what should happen. No reason to compare user growth or capital raise to anothers'. So on this first anniversary I'm going to not compare homingCloud to all those taller, walking and talking start ups in the playground.
I had some strong ideas about breastfeeding-- yes there is a similarity. More than anything, you want your baby to be healthy. But you also have some strong notions about how this should occur. I was against the bottle, so I didn't listen to that baby nurse who wanted me to immediately introduce a bottle, didn't listen to some family members who thought size :) mattered. I turned off the negatives and did what my heart told me, and it all worked out just fine.. until those teeth came in. Similarly, I have had some strong ideas about homingCloud's mission and premise. Many told me to take MLS feeds, in other words, give up on what I truly believed in. But one year later, homingCloud's mission remains -- happier not broker, and I've yet to get bitten.
The first year raising an infant is exhausting, mentally and physically. You read non stop about your baby, you don't sleep, you don't care about anything else. For me, even leaving my baby for an entire day was torture. The first year of a new company is pretty much an all consuming and an equally exhausting experience. You wake up in the middle of the night with ideas and can't fall back to sleep, you read everything written about startups, tech, your industry, running a company, you don't want to go on vacation, and if you do, you can't enjoy leisure. You basically are obsessed with your baby company.
All that being said, I know things get a bit easier once the baby talks, walks, and can rely on others. And that's exactly how I look at the next year ahead. homingCloud needs others in its life, and needs stuff, and that's what I am setting out to do. I just hope the terrible twos aren't too terrible!