Just a quick note to say I heard this in a training session the other day. Unfortunately, no one publishes accurate details as to exactly how many real estate agents are out there in the Twin Cities marketplace. There are more real estate sales people who are licensed but they are not REALTORS. To be a REALTOR, you must join one of the boards and pay your MLS dues. It appears that as the housing market crashed, those willing to pay their dues membership to be REALTORS with access to the MLS crashed as well.
Minneapolis Area MLS Membership Drops from 21,000 to 13,000 During Housing Market Crash
February 15, 2012 By Leave a Comment
Are Third Party Real Estate Aggregator Sites Using Black Hat SEO Tactics to Block Real Estate Brokers?
January 29, 2012 By Leave a Comment
Anyone who pays attention to internet marketing and specifically SEO (search engine optimization) strategies knows that black hat tactics are frowned upon in the business. The big battle in real estate right now has to do with the web. Over the past 5-6 years, the rise of third party real estate aggregators has been the cause of concern for real estate brokers. The risk has been that the third party aggregators would disintermediate the brokers and real estate agents by being the first point of contact for real estate consumers on the web.
Real estate brokers lost control of their listings many years ago. I think they were fooled by the allure of the web and getting additional exposure for their listings. They gave the listing information away for free in hopes of more eyeballs seeing their listings. Many did not realize they were giving away the store when they did that. More recently, real estate brokerages are fighting back and no longer allowing their listings to go to many of these third party aggregators such as Zillow, Trulia, and REALTOR.com.
Now these third party aggregators are being accused of using black hat SEO tactics to cut off links that go back to the original brokers site. If this is true, that’s quite a stunt these sites have pulled off. Let me get this straight, real estate brokers send their information to these third party sites for free, the third party sites use the listing data to generate tens of millions of dollars in advertising revenue, banner sponsorship sales, and then possibly lead referrals, and they are inserting “no follow” on the links back to the original brokers? If that is true, why are we doing business with these firms?
Check out the story from AGBeat on what the CEO of VHT is accusing the third party aggregators of when it comes to black hat SEO for real estate.
If you are a real estate agent or broker reading this, I recommend that you share this post with others in the business so that they can understand the ongoing challenges the real estate industry faces with these third party aggregators. In case you missed my last post, you’ll want to read about ARG Abbott Realty in San Diego pulling their listings.
Related articles
- Edina Realty discontinues 3rd Party Sites like Trulia and Realtor.com (craigkamman.com)
- Third party real estate listing companies, too big to fail? (agbeat.com)
- You Can Hide Your Black Hats but You Can’t Take the Proof Out of the Pudding (webimax.com)
- Popular Black Hat SEO Strategies (danlew.com)
ARG Abbott Realty Group Pulls Listings from Real Estate Syndicators – Hammers Zillow, Trulia and REALTOR.com
January 28, 2012 By 6 Comments
I’ve come around on this issue and now agree with Jim Abbott, President and Broker for ARG Abbott Realty Group in San Diego. (Edina Realty pulled its listings from the syndicators about two months ago and were one of the first of the larger regional brokers to pull the plug).
Jim Kelly’s 7 minute video absolutely shreds Zillow, Trulia and REALTOR.com as ripping off REALTORS as well as misleading consumers. I find this all the time with these sites. Over and over again the data is not accurate and up to date on Zillow or Trulia. (I’m not quite as familiar with REALTOR.com and how good they are at keeping data accurate). Zillow and Trulia will often lead properties listed for sale even though they are no longer on the market. I see this time and time again. I suspect they will contact me and tell me I am wrong, but I can back that up within 5 minutes of searching right now.
It is now time for ALL BROKERS to PULL THEIR LISTINGS now from Zillow, Trulia and REALTOR.com.
I encourage you to watch Jim’s outstanding video of clearly explaining what is going on. Thank you Jim!
Related articles
- Another Broker Follows Edina’s Lead in Pulling Listings from Syndicators (bobgilberthomes.wordpress.com)
- Edina Realty discontinues 3rd Party Sites like Trulia and Realtor.com (craigkamman.com)
- Third party real estate listing companies, too big to fail? (agbeat.com)
- Has Edina Realty Just Declared War on Real Estate Web Site Aggregators – Trulia and Realtor.com? (johnmurphyreports.com)
- Confirmed: Edina Realty Pulls Its Real Estate Listings from Third Party Aggregators Trulia and REALTOR.com (johnmurphyreports.com)
- The Rest of the Story for Edina Realty (bobgilberthomes.wordpress.com)
REALTORS Confidence Improves
January 25, 2012 By Leave a Comment
The National Association of REALTORS published its latest findings on how REALTORS are feeling about sales activity and there is a noticeable improvement in the findings. Part of this might be due to seasonal issues but the could be discounted a bit because we are still in the depths of winter. It does seem like things are starting to pick up in many segments.
Chart: HousingWire
Related articles
- National Association of Realtors membership levels decrease (agbeat.com)
- Real Estate Agent, Broker, Realtor: What is the Difference? (choiceofhomes.com)
- Survey Says: Most Buyers Use A Realtor! (mortgageheathervt.com)
- Realtors drive 3.6 billion miles a year (lansner.ocregister.com)
State of California Sues ZipRealty for $17 Million – Back Wages Disputed
September 29, 2011 By Leave a Comment
This is the largest suit of its kind for a minimum wage dispute in California. This is no laughing matter because it’s $17 million. However, I do think it’s funny, sad, and appropriate that the suit involves Realtors and minimum wage…that about sums it up for most Realtors the past few years.
The Banks Are Killing the Housing Market with Short Sale Policies
August 11, 2011 By 2 Comments
The banks are killing the housing market with short sales. You think that’s hyperbole? Talk with an agent you know. Very few of these are getting done despite what you’re hearing from the banks. There is a massive backlog of short sales for sale and they take forever to get completed if you can get them done.
How are they killing the market? I was speaking with a fellow agent today at a training and I mentioned I don’t know why we don’t just “pend” short sale properties once we get a contract on them. He reminded me that the reason we don’t is so we can show the bank that we’ve listed it for sale and that it continues to be for sale and the offer that we’ve submitted is the best and only one. The truth of the matter is once it has a contract on it and is now “sold subject to bank approval or third party approval” very few people come in and show the property. Additionally, even if we miraculously got another contract, we couldn’t do anything with it anyway. The seller, by signing the first contract, has sold the house – just subject to bank approval on the short sale. It’s an absolute waste that that home continues to stay on the market. The Realtors and the MLSes are complicit in allowing this to happen in Minnesota.
So here’s what happens, it takes about 225 days on average to pend a short sale if you can get it done. It’s taking about 140 days to pend a traditional seller’s property. Those for sale signs on the short sales continue to hang around forever. There is also a false impression left in buyers minds about how many properties are for sale when they look are various web sites. I can tell you more often than not when I get a request from a potential buyer to see a property that looks like a great value, often times it’s already under contract. However, it’s showing up as active and adding days on market to the overall market stats hurting traditional home sellers.
Short sales are the poison pill for the housing market. It’s time for the banks, Realtors and MLSes to get their acts together and stop this ridiculous practice that is hurting many of the people across the county.
Here’s a link to the Twin Cities Foreclosure and Short Sales Report.
New FTC Short Sale Rules for Realtors/Brokers – MARS Rules
June 8, 2011 By 1 Comment
Depending upon which city or suburb you live in, short sales make up about 15-20% of the active listing inventory. Given the explosion in foreclosures, short sales and people falling behind on all kinds of payments, there has been a huge growth in companies who claim they can negotiate your debt. The FTC has announced new regulations recently and the Realtors Associations believe those rulings affect Realtors as they help consumers with short sales.
The new FTC ruling or MARS ruling (Mortgage Assistance Relief Services) affect those conducting short sales, loan modifications or any other type of debt relief or mortgage renegotiation on behalf of consumers. There are several new disclosure items that must be made in advance. Chris Galler, President of the Minnesota Association of Realtors does a nice job in these two videos explaining what must be disclosed and when it must be disclosed. These are new rules that all real estate practitioners are required to follow.
For more information visit the Minnesota Association of Realtors web site or check with your broker.
“Why You Can’t Get a Mortgage” CNN Money
April 6, 2011 By 2 Comments
Those of us working in real estate know that there are fewer buyers out there. New government regulations are likely to make that buyer pool shrink a little further. It sounds like this will happen over time so it won’t have a jarring effect.
Many people believe they can’t get a mortgage, and they may be correct. However, there are likely those who think they can’t get a mortgage, but actually could get one. The industry has a major perception problem.
In speaking with other agents, mortgage brokers and reading financial pundits, they all say we need to ratchet up the credit requirements and down payment requirements in order to buy a home. That’s fine, as long as everyone knows that by doing so, we will put housing in a permanent funk.
Check out CNN Money’s “Why You Can’t Get a Mortgage” article for more insight to the challenges facing prospective home buyers.
Related Articles
- Changes to the mortgage market beginning today (April 1, 2011) (hsh.com)
- Broker Compensation Rule Delay Not Good for Business, by Michael Dolan, Broker Pro Mortgage (oregonrealestateroundtable.com)
- A Glossary of Real Estate Terminology (streetsvillerealestatebuzz.wordpress.com)