5 Tips For The Brave Soul Considering Real Estate Sales As a Career

What are your three tips to someone wanting to become a real estate agent today?

Hi Im Rudy at Trulia, a social media guru, inspired this post with a question on Twitter last week.

My initial reaction was ‘Why would anyone want to enter the real estate sales industry today?’ but the prevailing thought became: It would be a great time to enter if you knew how to play the game with new rules and better tools.

The information below is nothing new to the experienced re.net professional, it’s meant to be a simple guide to help a new agent put their feet in the re.net pool without inundating them with too much information.

Study, Subscribe, Crowd Source, and otherwise increase your Social Networking Optimization Skillz.

Read the real estate sites indexed in my re.net tab (for starters).  Look for other sites of interest from their blogrolls.  Commit your favorites to an RSS Reader and read them like the daily newspaper.  Track the latest news, trends and general pulse of the online real estate and mortgage community. If someone writes a post that inspires a question, comment thoughtfully and you’ll likely gain some influential friends along the way.

Once your social base membership increases you will be able to crowd source for  information better than any search engine can provide.    What is crowd sourcing? Leveraging mass collaboration amongst human beings to further ones knowledge and experience levels.

Enroll in social networks like Active Rain, Twitter, Facebook, and LinkedIn, doing so is a well guided, relatively easy process.  If you get stuck ask someone in the community for help, there’s a high degree of altruism in these spaces.

It’s easy to get a little crazy joining new social networks, it gets even crazier trying to keep up with them all, so choose where you’re going to spend your time carefully.  The communities I mention have all yielded positive returns in exchange for my time spent ‘in’ them.

Active Rain.  The #1 social network for real estate and mortgage professionals.  If the community does nothing else it gives a wide range of feedback, from active professionals to interested consumers, and offers good targeted marketing leverage/exposure.  Most every ‘online’ real estate related professional I’ve run across has contributed to Active Rain at some point in time, it’s a great place to gain online traction.

Twitter is an enterprise class text messaging social network who’s potential upside is best described in my last post.

FaceBook is a more mature, clean version of MySpace in concept and user type.  Throwing sheep, feeding a friend to a Vampire and a slew of other spamapplications argue the contrary, granted.  But, Facebook also allows one to create smaller specialized ‘communities’, affiliate with specific geographic and demographic groups, and otherwise socially promote yourself and your wares for free.  FaceBook can connect you with ALOT of people.

LinkedIn is a resume and networking community for professionals.  If you’re looking for business, products, services and the people that provide them, LinkedIn’s ‘six degrees of separation’ community is a great place to crowd source higher level expertise and experience and even land a better job.

Join Trulia Voices and Discussions on Zillow, engage the conversations as people subsequently tend to link back to your home site, which is the goal.  One thing here: answer the damn questions honestly not according to the kool-aid infused NAR psycho-babbletalk rulebook that currently dominates these sites…get in there and mix things up, you’ll stand out and win in the end.

Give away your knowledge and listings freely.

Start a blogsite by paying a service provider (there are a number of them in the RE Tech section of the re.net tab) to create a nice clean ‘home’ in cyberspace for you.  Yes you can do a lot of this yourself for relatively free but thats not where you should be focusing your time.   Allow the professionals to handle most of this, at least the set-up, the cost in time savings alone is worth the price tag.   Don’t make the mistake of putting up an ad hoc site, it’s the first thing most people will see of ‘you’ and first impressions are important.

It wasn’t all that long ago that uttering the idea of open listing distribution outside the traditional MLS would get one tarred, feathered and hung from NAR’s flagpole.  Today it’s accepted as necessary for survival. Customers want to see listings, all of them, so give them the most intuitive experience possible.  Make sure your site provider has a really good IDX User Interface (UI).  In other words, you want something that looks almost as good as Redfins, Zillows or Trulias User Interface to redisplay the listings in your farm area.  Push your listings out to these well trafficked sites too.

Consider yourself a real estate journalist, report (blog) on your market  3 times per week.  Mix it up, the stories can vary from statistical to satirical but should always tie back to relative real estate information, and enlighten to otherwise benefit your audience.

Familiarize yourself with various multi-media tools to properly market yourself and the real estate you represent, i.e. Turn Here, Real Estate Shows, even sites as simple as Flickr can help make an otherwise vanilla listing drip with sweet sizzurp.   Teresa and Daniel epitomize this practice.  Current agents and profound bloggers are even developing their own technologies for the benefit of all…

If you notice another professional doing a property or client an underachieving disservice, pass these tools and advice along to them.  There is nothing more frustrating to a buyer and insulting to a seller than reading some boiler-plate MLS description of a property with no (or disposable camera) pictures.

The re.net community is rather ‘cliquish’ and protective of their own.  Differentiating yourself with novel opinion is one thing, personally attacking someone for your benefit will get you ostracized in the greater community.  It should also go without saying that plagiarism is stealing and will get you ‘rubbed out’ too.  Never copy someone’s work without permission or proper citing.

Don’t expect instant success.  Building an audience takes time, at least 3-6 months.

F*@k SEO

A good blogsite provider will build you a site that innately optimizes your content for the search engines.  Many SEO pundits (trust me, you’ll run in to them) will have you chasing your tail focusing on template style (= boring) writing.  You can’t ‘game the system’, trying to do so is often called ‘black hat’ or ‘grey hat’ tactics and will likely get your site penalized.  The best SEO advice anyone can give centers around composing well written, compelling, relevant content and producing it with consistency.  The rest will take care of itself.

The SEO related sites I link too in my re.net index are there because they’ve proven to spur the creative writing juices and address the basic do’s and do nots very well.

The time you spend trying to keep up with SEO tactics is time better spent researching your market data, trends and other far more interesting content to provide your readership and subsequent clients.

Always remember, you should be building an audience not fishing for ‘traffic’.

Don’t call yourself Realtor.

Sorry, but it’s the truth.  Call yourself a licensed practitioner of the real estate arts, marketing guru for real property, property pimp, or whatever.  The name Realtor creates strong feelings of aversion in the mind of a consumer, and the NAR doesn’t like anyone using the word very much anyway.

Drop the confusing acronyms. I get these visions in my head of local NAR meetings where Realtors wear their uniforms with patches and beads sown on, like in boy (or girl) scouts.

Distance yourself from traditional real estate economics.   I’m not saying charge less, I am saying charge whatever you charge, just have it make sense to the consumer.

Don’t put your picture on biz cards or the front page of your website.  People can be shallow, jealous and unforgiving…propping your face up for all to see may be deemed pretentious, too pretty/ugly, or doesn’t look enough like you (so you’re lying).  One of the (many) things I took away from the 4RealzEd.com seminar was Jim Marks demonstrating via a real client example, where simply removing an agents mug from the front page of the website caused a substantially higher click-through rate.

It’s not personal, but its hard for a few good apples to un-spoil the bunch.  For every Jay Thompson, Kris Berg and Teresa Boardman there are a hundred clowns out there insuring the name Realtor elicits a furrowed brow and curled lip on the face of the consumer status-quo.  Imitation is the sincerest form of a compliment, it’s OK to try and emulate what these good folk are doing, the industry is better because of people like them, which leads to:

Pay it forward

For too long the real estate industry has been in competition with itself.

Scarcity breeds scarcity, the bigger you give the bigger you get.  Help out other agents that didn’t get the love you got and make the entire industry a better place than when you arrived.

Crowd Sourcing Applications Social Networking on a Granular Level

I’ve been into Wikipedia lately, it may not be the most perfectly politically correct source for definitive information, but it works.  Crowd sourced information is far denser than an algorithm when it comes to encyclopedia worthy content.

Twitter turns out to be a great source of crowd sourced information too, it’s the main reason I ‘put up’ with the enterprise class texting application.  I follow a group of smart people and ‘ask Twitter’ when I have a question that I feel members of my little society are likely to know.

For example:

I was in the market for a new portable camera and so Twitter’d as much.  @ResPres , The Dude when it comes photography utensils, clued me in to the Lumix TZ5 and posted pictures on Flickr using the camera.  Sold, bought one 2 days later and love it.  @respres and I never exchanged an email or phone call, all done via Twitter.

@tyr  needed a new passport fast.  I told him about a service I successfully used in the recent past, and believe he engaged them too, solving his dilemma.

@Morganb  was looking for suggestions on a new site template, I recommended @tcar (serial blog-site creator with mortgage experience) and a few other @’s quickly joined in with their suggestions.

@Alex_Stenbeck twits daily mortgage rate pricing and related trends, very useful and cool.  Many mortgage brokers pay Barry Habib a good buck for similar info.

@bnix had a question about configuring Twitter with Google Talk, he got his answers from the community.

The side effect to what’s becoming a pretty useful little tool is the ‘noise’ of consistent text messages that goes with following 60+ people like I do.  Trust me following 60 people is peanuts, some follow 600.  Twitter offers designations for ‘twiting’ a certain number of times.  One can achieve ‘E-Twit’ status by sending 1000 ‘Twits’, and many aspire to be.  This causes the mix of emotions many have toward Twitter; many curse it but more use it.  I find most of the noise to be a tolerable level of comedy, many twits make me laugh thruought the day.

Many talk about ‘Web 3.0′ or a semantic, smarter web…Twitter is pretty close to that on a primitive, granular level but its evolving quick.  3rd party applications like twhirl integrate Twitter to ones desktop.   Sites like Friend Feed aggregate content from multiple user feeds in classic Mash-Up fashion and Alert Thingy (great name) is to Friend Feed as twhirl is to Twitter.

So if you can tolerate a little conversation, Twitter is a pretty dang useful tool if you’ve got a question neither Google nor Wikipedia may answer particularly well.  I’m far more likely to buy a camera that a trusted professional in my social community recommends than Google…

This was a completely random post, it was supposed to be about Innovation vs Imitation and being ‘just a little bit better’…maybe next time :)

New Marketing Strategies Via Social Networking Optimization for Real Estate and The Big Push for Compensation Reform

New Marketing Strategies Via Social Networking Channels for Real Estate and The Big Push for Compensation Reform.

‘We are the fossils, the relics of our time, we mutilate the meanings till they’re easy to deny…be ashamed of the mess you’ve made.’

- William Corgan

I hear many mortgage and real estate professionals within the industry still spouting off about how no technology will ever replace them…no, technology won’t, but the professional that leverages technology properly will eliminate the agent that doesn’t.

Today, I’m hyper-focused on two issues that are effecting both the mortgage and real estate industry’s:

  • New Marketing Strategies via Social Networking Optimization
  • The Big Push for Compensation Reformation

Both issues are intimately connected via the advent of progressive Technology (proper).

SEO vs SNO…
SEO is an eyeball catcher that brings potential buyers to your front door, however, what you show them, the level of service you provide, and the subsequent chance for referrals is rooted in proper SNO strategy, a strategy that involves giving a network the ability to spread your seed for you.

As a service provider, there is no higher compliment than a referral from a satisfied client that generates a new client. All the SEO in the world isn’t going to help a company foster satisfied clients. If you think about it, a bad service provider with good SEO is dangerous, it’s very indiscriminate in this way… Proper Social Networking Optimization is where it’s at for the future of real estate and mortgage marketing and will pave the way for future compensation reformation.

Side note: Real estate and mortgage professionals should stay away from technology providers who are in the business of selling you ‘SEO solutions’. Chances are they have no idea WTF real estate and/or mortgage is about, and are solely in the biz to make money off of your ignorance. They’re the type to buy a house on emotion, try and get you to commit fraud in the process, get it financed any way they can, then blame you for paying too much and having an effective interest rate in the 14% range. These are the same people who will tell you blogrolls are bad, although sites with PageRanks of 7 and higher routinely have home pages with hundreds of links on them.

SEO is getting to the point of ‘fire and forget’, and is getting easier for the laymen to implement…here watch, I’ll demonstrate:

I use WordPress for my website and a few free SEO plug-ins (and here too) that automate those ‘secret strategies’ that are supposedly the proprietary wares of other so called company’s.

Use this plug-in so Google and Yahoo can crawl your sites ‘site map‘.

One-click makes it easy install and activate any of these plug-in’s, with, well, one-click.

Want great SEO and/or blogging advice? Get it straight from the sources, like SEOMoz, Copyblogger, Pro Blogger, and HubSpot.

Want a canned proven and ‘packaged’ solution provider? Check out Real Estate Tomato, Incredible Agent, and Realivent.

Need ground level, top notch, hands on education and consulting? The fellas at Domus are second to no one…

There, you have 97% of the resources you’ll ever need to maximize your sites potential SEO. Now you just have to write (or aggregate) some compelling content to keep those unique visitors coming back for more…

Please excuse the following ‘self-promotion’, I’m going to make a point as to how SNO can serve as a new marketing strategy through compensation reformation in the mortgage industry…

I’m currently working on a few initiatives for the mortgage and real estate industries, one of them is called RateSpeed. If you’re a regular reader of The XBroker, you have heard me talk of this ‘tool’ before (many delays with many reasons that really don’t matter at this point). RateSpeed has absolutely nothing to do with SEO, it’s all about SNO.

For those who haven’t heard of RateSpeed, real quick…It’s akin to a ‘black box’ that aggregates a mortgage professionals wholesale lender interest rate pricing feeds, organizes and redisplays them according to best case results dependent on the consumer end-users credit and financial risk data.

Mortgage professionals will have no ability to manipulate the data between the wholesale lender and the consumer using the application and MUST disclose up front a flat fee (of their discretion) for services…These are the issues at the core of the problem to today’s mortgage mess, IMHO. RateSpeed displays raw rate pricing, showing the exact YSP down to the $.01, and how it can be applied to closing costs, if that is the consumers want, but most importantly it shows this directly to the consumer.

It’s also happens to be a an efficiency and lead generation tool for mortgage pro’s willing to embrace transparent philosophies. RateSpeeds ability to auto-price and sort through the myriad of lenders they’re approved with stands to save a mortgage pro’s inordinate amounts of time and related cost. RateSpeed, at it’s core, stands to alter how mortgages are sold through compensation reformation. By showing consumers exactly how mortgage professionals make money, reform will (is) be(ing) demanded, evidenced by HR 3915. (Nod to Brian Brady for his copious amount of research and opinion on the issue).

I know many mortgage professionals who practice this level of transparency in their day to day business, but there are too many who don’t, and they’ve screwed it up for the rest of us. Some will say it’s too confusing to the consumer, others just want to continue the practice of personally enriching themselves through consumer ignorance. Anyway, how RateSpeed specifically works isn’t what this post is about, so I’ll move on.

RateSpeed will be distributed via a network mortgage professionals as a widget, a chunk of code that is embeddable on current web/blog sites to professionals who embrace transparency and ‘do business’ in such fashion. Real estate professionals can also embed RateSpeed on their sites because it will (must) be directly connected to their selected (and approved) mortgage pro(s) who are ‘in the network’.

From a Social Networking aspect, it will seam together hubs of like real estate agents and mortgage professionals who appreciate, practice and preach a common, open philosophy when it comes to providing mortgage services. To take it a step further, RateSpeed will have the ability to permeate existing social networks like LinkedIn and FaceBook (if think you are reading between the lines here, you are).

*Pause* (Switching Industry’s) 

After reading Brian Larsons piece last year and (at about the same time) engaging in a mile long comment thread on Redfin.com(s) former ‘Wall of Shame’ category that involved the ethereal term ‘Procuring Cause’, I was drawn to Greg Swann’s perspective on the issue of divorcing real estate commissions. It is voluminous, the most comprehensive resource and reasoning of it’s kind. I’d be lying if I said I read it all, though I’ve been a proponent of much of the content within the diatribes I’ve speed read. What’s most compelling about the topic for me is two-fold: A. Who is tirelessly arguing for it…a practicing real estate professional, and B. The argument is synonymous to calling for the end of the MLS as it still stands today, a dinosaur of a database that was meant to guarantee inter-broker compensation.

Compensation reformation or divorcing real estate commissions is coming, since inter-broker compensation can be handled outside of the traditional MLS (as Greg and company tirelessly articulate). There have been a plethora (more than I care to link to) of proposed solutions, albeit most of them still require prohibitive adoption methods and maintain confinement to, and within, a defined box. A different version of the same thing isn’t a viable solution and mass adoption of isn’t probable considering the openness of the technology landscape, 2007-08 forward.

Zillow and Trulia aren’t it either, nor are their widgets. Why would an agent want to feature an application on their website that leads a potential client away from their website? Both well funded 3rd party destination real estate information websites business models revolve around advertising. Advertisers pay money to players like Z & T because consumers are carousing their sites, not an agents or brokerage, so it would seem fair to say that both entities would like to keep the consumer there. This isn’t a knock against either company, they do what they do and make no bones about it, however their respective agendas don’t line up with the individual agent. Both company’s (I can hear David G. coming now) will maintain that they exist to improve the consumer experience and send visitors (back) to the individual professionals. This may work in theory, but in the end both are pretty much destined to become Phone Book 2.0…which is fine.

An application (technology, widget, et al.) that allows for a real estate professional to ‘share’ their valuable information and market their services to others within similar spheres, while insuring an acceptable assurance of reciprocity has yet to be identified…though it should involve a strategy that implements an open Social Networking Optimization framework that allows birds of a feather to flock and fly together…

More on this later…I wanted to get at least this much out before I left for NAR…*whew*

I’ll be at Incredible Agents Booth #3444 in The Sands on Wed, 11/14 @ 1pm…