WAV Group http://waves.wavgroup.com/RSSCOMMENTS en-US hourly 1 2000-01-01T12:00+00:00 In response to: Housing Economic Summary from Jim Welsh http://waves.wavgroup.com/housing-economic-summary-from-jim-welsh#c64216 Victor Lund [Member] All Good Points Chris. I hate to spread the bummer information, but real estate brokers and vendors need to manage their cash flows accordingly. Tight credit markets make it difficult to raise capital to buoy businesses that may be in trouble during this economic downturn. Hold your cash tight to your vest. In response to: Housing Economic Summary from Jim Welsh http://waves.wavgroup.com/housing-economic-summary-from-jim-welsh#c64215 Chris Freeman [Visitor] <p>Well aren't you and Jim just a couple rays of sunshine today :-D </p><br /> <p>Unfortunately, I hope we're all wrong too, but don't think we will be proven so. The unemployment numbers out today, showing it at 9.5%, are further going to add downward pressure on home prices. It is just hard to see past the simple math that many of those nearly 10% will not be able to keep paying their mortgages. </p><br /> <p>Jobs are the fuel for the economic fire and until the bleeding stops there, I do not see our economy nor housing turning around. Hiring is the indicator on my radar.</p> Well aren't you and Jim just a couple rays of sunshine today :-D


Unfortunately, I hope we're all wrong too, but don't think we will be proven so. The unemployment numbers out today, showing it at 9.5%, are further going to add downward pressure on home prices. It is just hard to see past the simple math that many of those nearly 10% will not be able to keep paying their mortgages.


Jobs are the fuel for the economic fire and until the bleeding stops there, I do not see our economy nor housing turning around. Hiring is the indicator on my radar.

]]> In response to: Replacing your Palm Treo - choose Blackberry http://waves.wavgroup.com/replacing-your-palm-treo-choose-blackberry#c64208 bestnewhome@gmail.com [Visitor] <p>I still am using my old reliable Palm Treo, not for the IR lockbox but for the very easy texting and use of all features. I tryed to replace my Treo 2 years ago with a Blackberry Pearl thinking it would be wonderful. I can never text or even type happly. </p><br /> <p>The Email is great, the navigation is good when it works. Too many calls to the help desk makes me not trust it anymore. I was thinking of trying the new Palm Pre or IPhone so that I can get back to just one phone.<br /> </p><br /> <p><br /> What blackberry are you using to recommend?</p> I still am using my old reliable Palm Treo, not for the IR lockbox but for the very easy texting and use of all features. I tryed to replace my Treo 2 years ago with a Blackberry Pearl thinking it would be wonderful. I can never text or even type happly.


The Email is great, the navigation is good when it works. Too many calls to the help desk makes me not trust it anymore. I was thinking of trying the new Palm Pre or IPhone so that I can get back to just one phone.



What blackberry are you using to recommend?

]]> In response to: Would Brokers get better conversion on thier website with advertising? http://waves.wavgroup.com/would-brokers-get-better-conversion-on-thier-website-with-advertising#c64205 private [Visitor] When I was at (company named removed) we acquired (company name removed) which is a lead aggregator for the moving vertical. Their site historically did not accept 3rd party advertising for fear of cannibalizing their conversion of consumers completing a lead form. The day the deal closed our company introduced an ad footprint averaging 3 ads/page. We experienced nearly a 30% increase in lead conversions with 3rd party ads on the page. In response to: Bing goes bonkers to Google dismay http://waves.wavgroup.com/bing-goes-bonkers-to-google-dismay#c64200 David A [Visitor] Bing and Google are both great tools, but they do not encompass all the tools that a true real estate seeker needs. For the last 2+ years we have been developing a full real estate search engine, complete with a interactive map and home comparable engine.<br /> <br /><br /><br /> Bing and Google can spider and log the results but the true power is in being able to analyze the data. That is where is become complex, being able to deliver the data in a user friendly way where people can easily get the data they need. That is what we hope to deliver at www.homeprodigy.com.


Bing and Google can spider and log the results but the true power is in being able to analyze the data. That is where is become complex, being able to deliver the data in a user friendly way where people can easily get the data they need. That is what we hope to deliver at www.homeprodigy.com.]]> In response to: Our ugly little secret called Days on Market http://waves.wavgroup.com/our-ugly-little-secret-called-days-on-market#c64198 infosam [Visitor] <p>Days on Market (DOM) is a subjective measurement that will always have shades of grey associated with it. In an industry that is increasingly driven by real-time alerts and "hot sheets", the impetus to re-mint a listing as New, is also increased. </p><br /> <p> Simply relisting a property accomplishes this in many cases.<br /> When do you say that a listing went on the market? In the Houston MLS we have put together a system that places an asterisks * next to the DOM if the property has been previously listed in the last 12 months. This alerts any Realtor in the MLS that they might want to take a look at the Property Archive Report (PAR) to see the listing and sales history of that property.<br /> </p><br /> <p><br /> DOM is more a measure of how well a property was initially priced and professionally marketed in the first place rather than an indication of overall market conditions. It would be a mistake to attempt to turn it into an important market metric. It is inherently unreliable.<br /> </p><br /> <p><br /> Implementing restrictive policies on the sale and relisting of properties could result in the unintended punishment of the initial broker by giving the seller a reason to switch brokers, if that was the only way to "refresh" a listing and call it "New".<br /> </p><br /> <p><br /> DOM is a field that can be useful to an trained professional with access to a Property Archive Report. The asterisks * alerts that professional to the additional information in the PAR, so they can help their client assess market conditions for that property. </p><br /> <p> The PAR is only as accurate as the MLS data is. Addresses need to be standardized and TAX IDs verified in order to correctly report on the history of each MLS listed property.</p> Days on Market (DOM) is a subjective measurement that will always have shades of grey associated with it. In an industry that is increasingly driven by real-time alerts and "hot sheets", the impetus to re-mint a listing as New, is also increased.


Simply relisting a property accomplishes this in many cases.
When do you say that a listing went on the market? In the Houston MLS we have put together a system that places an asterisks * next to the DOM if the property has been previously listed in the last 12 months. This alerts any Realtor in the MLS that they might want to take a look at the Property Archive Report (PAR) to see the listing and sales history of that property.



DOM is more a measure of how well a property was initially priced and professionally marketed in the first place rather than an indication of overall market conditions. It would be a mistake to attempt to turn it into an important market metric. It is inherently unreliable.



Implementing restrictive policies on the sale and relisting of properties could result in the unintended punishment of the initial broker by giving the seller a reason to switch brokers, if that was the only way to "refresh" a listing and call it "New".



DOM is a field that can be useful to an trained professional with access to a Property Archive Report. The asterisks * alerts that professional to the additional information in the PAR, so they can help their client assess market conditions for that property.


The PAR is only as accurate as the MLS data is. Addresses need to be standardized and TAX IDs verified in order to correctly report on the history of each MLS listed property.

]]> In response to: The spring increase in home sales may be yielding a slow summer crop http://waves.wavgroup.com/the-spring-increase-in-home-sales-may-be-yielding-a-slow-summer-crop#c64196 Steve Murray [Visitor] Victor<br /> <br /> You have it right....the foruth quarter of 2009 and first quarter of 2010 may well be the toughest time yet, depending on where your business is located and how well you are prepared. Store acorns as much as possible now.<br /> <br /> Steve<br />
You have it right....the foruth quarter of 2009 and first quarter of 2010 may well be the toughest time yet, depending on where your business is located and how well you are prepared. Store acorns as much as possible now.

Steve
]]> In response to: Real Estate Listing Syndicators Collaborate on report http://waves.wavgroup.com/real-estate-listing-syndicators-collaborate-on-report#c64194 Bud Hovell [Visitor] <p>Hi, Kristen ...<br /> QUOTE<br /> I'm a bit late jumping back into this but...<br /> ENDQUOTE<br /> I'm returning long after the fact also since you've contributed some interesting and informative comments.<br /> </p><br /> <p><br /> QUOTE:<br /> Bud: The companies listed do not necessarily "use" the Syndication Schema but, as with most things RETS, participate in the creation to better the standard as a whole.<br /> ENDQUOTE<br /> </p><br /> <p><br /> Some companies I questioned have also not participated in development of the Syndication Scheme. I've no idea what was the original intended purpose of the posted list -- nor how or by whom originally sourced. What I do know is that, as presented, it isn't objectively accurate, whether in the context of "use" or of "contribution". Pointing that out wouldn't seem to be reasonable cause for a tempest in a teapot.<br /> </p><br /> <p>QUOTE<br /> I believe it is relatively safe to say the Syndication Schema is "complete" (someone out there is going to hang me for saying that...bring on the noose) at this point.<br /> ENDQUOTE<br /> </p><br /> <p>Not at all. It's surely safe to say it's actionable and going into production, which is a big win for everyone in the community. Even the most carefully designed standard evolves over time when the terrain changes and our experience of traversing it.<br /> </p><br /> <p><br /> QUOTE<br /> As far as keeping updated listings - there are means for keeping a local database current but, from my experience, most sites which display listing information do not take measures to maintain the database.<br /> ENDQUOTE<br /> </p><br /> <p>That appears to be quite true, depending on the focus of site management. Some agents also "chum" for new customers by conveniently failing to take down known-expired listings, particularly when there's no penalty for letting zombies coast on forever.<br /> </p><br /> <p><br /> QUOTE<br /> I believe that's one of the pains of the agent/broker community. When I was an MLS employee on of the most frequent questions I received was how to keep listing information current when a listing went off market and was no longer provided in a feed, whether FTP, RETS, a Syndication "push", etc.<br /> ENDQUOTE<br /> </p><br /> <p><br /> Force early expiration of listings and require positive action to renew them. That surely doesn't solve every possible problem, but it does go a long way toward reducing the frequency and impact of zombies. If a listing goes missing from the incoming source, it should likewise be immediately expired from outgoing distribution.<br /> </p><br /> <p>QUOTE<br /> My personal option - the 15 or 20 fields used in Syndication are not as valuable as the IDX dataset.<br /> ENDQUOTE<br /> </p><br /> <p><br /> Value all depends on the intended purpose and which data are chosen. A marketing purpose isn't necessarily well served by copious and detailed "data" intended mainly to document the property and other listing contract details, and advertising may actually suffer from relying on reams of objective but inherently lifeless data.<br /> If you visit any search engine and inspect the listings at the top level, it is immediately obvious how little "data" can be offered. That primary battle zone allows little room for maneuver and is highly visual. There is no hope of immediate assistance from even the most abundant quantity of other objective "data", which is entirely out of sight. An MLS service cannot influence quality of advertising "creative", which is up to the agent to provide, and stark, naked data (promoting features) doesn't necessarily engage perceived needs (promoting benefits).<br /> </p><br /> <p>In a buyer's market heavily glutted by a blizzard of unsold properties, the few hesitant buyers can soon go blind reading page after page of unsold listings. Offering a poor photo and/or uninspiring ad copy simply invites folks to skip over (all other things equal) to those more attractive. The quantity of data, no matter how great, cannot offset lack of focus on quality of those few vital elements that first matter most when a prospect decides whether or not to click for more info.<br /> Even then, the question arises as to how best (if not how immediately) to satisfy their desire.<br /> </p><br /> <p>Agreed, it's a pretty blurry line that separates "features" from "benefits" in real estate advertising, and it is entirely possible some prospect may excitedly decide to call an agent just because the listing detail mentioned the second bathroom has granite countertops. Could happen.<br /> But what's the downside?<br /> The ad that obligingly answers all possible questions also incurs the arguable risk of blunting a prospect's initial urge to contact the agent and "learn more". Not a good thing, perhaps. If stimulating contact from interested prospects is the agent's game plan, sometimes "less is more". And vice versa, of course. ;)</p> Hi, Kristen ...
QUOTE
I'm a bit late jumping back into this but...
ENDQUOTE
I'm returning long after the fact also since you've contributed some interesting and informative comments.



QUOTE:
Bud: The companies listed do not necessarily "use" the Syndication Schema but, as with most things RETS, participate in the creation to better the standard as a whole.
ENDQUOTE



Some companies I questioned have also not participated in development of the Syndication Scheme. I've no idea what was the original intended purpose of the posted list -- nor how or by whom originally sourced. What I do know is that, as presented, it isn't objectively accurate, whether in the context of "use" or of "contribution". Pointing that out wouldn't seem to be reasonable cause for a tempest in a teapot.


QUOTE
I believe it is relatively safe to say the Syndication Schema is "complete" (someone out there is going to hang me for saying that...bring on the noose) at this point.
ENDQUOTE


Not at all. It's surely safe to say it's actionable and going into production, which is a big win for everyone in the community. Even the most carefully designed standard evolves over time when the terrain changes and our experience of traversing it.



QUOTE
As far as keeping updated listings - there are means for keeping a local database current but, from my experience, most sites which display listing information do not take measures to maintain the database.
ENDQUOTE


That appears to be quite true, depending on the focus of site management. Some agents also "chum" for new customers by conveniently failing to take down known-expired listings, particularly when there's no penalty for letting zombies coast on forever.



QUOTE
I believe that's one of the pains of the agent/broker community. When I was an MLS employee on of the most frequent questions I received was how to keep listing information current when a listing went off market and was no longer provided in a feed, whether FTP, RETS, a Syndication "push", etc.
ENDQUOTE



Force early expiration of listings and require positive action to renew them. That surely doesn't solve every possible problem, but it does go a long way toward reducing the frequency and impact of zombies. If a listing goes missing from the incoming source, it should likewise be immediately expired from outgoing distribution.


QUOTE
My personal option - the 15 or 20 fields used in Syndication are not as valuable as the IDX dataset.
ENDQUOTE



Value all depends on the intended purpose and which data are chosen. A marketing purpose isn't necessarily well served by copious and detailed "data" intended mainly to document the property and other listing contract details, and advertising may actually suffer from relying on reams of objective but inherently lifeless data.
If you visit any search engine and inspect the listings at the top level, it is immediately obvious how little "data" can be offered. That primary battle zone allows little room for maneuver and is highly visual. There is no hope of immediate assistance from even the most abundant quantity of other objective "data", which is entirely out of sight. An MLS service cannot influence quality of advertising "creative", which is up to the agent to provide, and stark, naked data (promoting features) doesn't necessarily engage perceived needs (promoting benefits).


In a buyer's market heavily glutted by a blizzard of unsold properties, the few hesitant buyers can soon go blind reading page after page of unsold listings. Offering a poor photo and/or uninspiring ad copy simply invites folks to skip over (all other things equal) to those more attractive. The quantity of data, no matter how great, cannot offset lack of focus on quality of those few vital elements that first matter most when a prospect decides whether or not to click for more info.
Even then, the question arises as to how best (if not how immediately) to satisfy their desire.


Agreed, it's a pretty blurry line that separates "features" from "benefits" in real estate advertising, and it is entirely possible some prospect may excitedly decide to call an agent just because the listing detail mentioned the second bathroom has granite countertops. Could happen.
But what's the downside?
The ad that obligingly answers all possible questions also incurs the arguable risk of blunting a prospect's initial urge to contact the agent and "learn more". Not a good thing, perhaps. If stimulating contact from interested prospects is the agent's game plan, sometimes "less is more". And vice versa, of course. ;)

]]>