Real Estate WordCamp is Coming to NARdiGras!

I’ve been working with the NAR team to put together a WordPress event at NARdiGras, and couldn’t be more excited that we’re ready to start announcing details!

In a nutshell, we’ve broken the half-day event into two tracks — one for beginners and one for more advanced WordPress users — and the folks we’ve agreed to present are some of the most knowledgeable WordPress people in real estate.  All the sessions will be be on the morning of Monday, November 8th.

Below is a summery of the schedule, although this page on the NARdiGras site will quickly become the definitive source of all session information soon!

Track 1: An Introduction to WordPress

Track 2: Maximizing WordPress

The idea is that if you’re relatively new to WordPress (and even if you don’t have a wordpress site yet!), you should be able to leave the first track with enough knowledge to feel comfortable setting up a site and have an idea for what a successful website marketing strategy would look like.

For those who are comfortable blogging, Todd Carpenter is going to be hosting the Maximizing WordPress track. With Kelley, Steve and Gahlord as presenters, you’re sure to get tons of tools and strategies to take your online marketing to the next level.

I couldn’t be more excited to be heading to New Orleans again and look forward to seeing you there!

Couldn’t have said it better myself!

At the last 4RealzEd event, a wonderful real estate videographer by the name of David Toth agreed to film our event as well as some reactions from attendees. My favorite video, for reasons that will probably be obvious if you watch it, is when he captured me talking with attendees after the event:


Here are some links so you can learn more about the people featured in the video:

Our next event is in Pasadena on May 30th! And just like the Irvine event, we’re hoping to blow this one out of the water and close registration down early again for lack of space, so now is the time to register! 😉

And finally, I also want to thank Jessie B of ReTrove. He went out of his way to connect us with David Toth so that the videos could be possible! Not only did he capture the testimonials above, but he also edited down our presentation into three pieces to give you an idea of what to expect if you attend (4RealzEd Part 1, Part 2, Part 3). Obviously, if you’re looking to connect with a real estate videographer in Orange County area, you should consider talking with David because the guy knows what he’s doing!

(By the way, don’t be too surprised if I drop off the internet for the next few days as I travel and present in Toronto at RealtyQuest early this week…)

Been crazy for a few days getting ready for…

…in Realty Quest.

Here are some of the things I wanted to talk about this week, but haven’t had the chance:

  1. 4RealzEd is coming to Pasadena on May 30! The buzz from the first two events has been wonderful and I’m already seeing people sign up without any real marketing on our part! I love it!
  2. Move, Inc lost $4.6M in Q1 and not releasing “transformational” product. About the only positive news is that they are “announcing” a beta site that has been live (with a link from the homepage) since December. I feel bad for my previous colleague in marketing who has to spin this stuff.
  3. Keller Williams gets Zillow fever. Consider the great relationship between Top Producer (owned by Move) and KW, this must have been particularly painful for Errol Samuelson (runs both Top Producer and Realtor.com)
  4. Trulia teams up with the Silicon Valley Ass of REALTORS.  The traditional walls are slowly crumbling.
  5. Seattle times reporter/blogger wonders covers conference with Move, Zillow and Google and wonders who will create the real estate destination portal of the future
  6. Todd announces RE BlogWord… A special real estate track for the popular BlogWorld conference in Vegas. My guess is that there will be a bunch of big names from the world of real estate social media so this should be a lot of fun.
  7. Had a great, GREAT, meetup yesterday (dubbed: Doctor’s Note Gathering) with real estate and tech folks from the valley.   Linda and Ted had nice write ups!
  8. Getting excited about a panel this year at Inman led by Jeff Turner called: Growing Pains: Take Your Blog to the Next Level (more announcments around RE Connect are sure to come!)
  9. Krunching.com launched earlier this week. I like everything about the site (from the perspective of a  first public launch), except the business model.  I think they will either need to be a tech provider (i.e. selling tech to consumers/professionals) OR a brokerage (commissions!), but not both.   Otherwise, the site is great and I look forward to seeing more!
  10. Niki let me know that he launched Homethinking Mortgage earlier this week.   I feel bad that I haven’t had more of a chance to check out the site, but ANYTHING Niki does is worth checking out.   Some of the things, like the heat maps of average loan amount, are interesting, but I just haven’t taken the time to figure out how they will be useful!
  11. BeatYouThere launches (yet) another national real estate search site.  I kinda feel bad for anyone trying to start up in this space at this point, even if they are well funded.   Incremental improvement in the search just aren’t going to be enough at this point.
  12. And speaking of things that will be forgotten about in a few months…   I like Louis a lot and he’s definitely doing a great job reaching out to the online real estate community, but…
  13. CyberHomes redesigns the site.   I can’t help but wonder when will they start seriously marketing to consumers?

Redfin releases a genuinely interesting update!

According to their press release, they are now commingling MLS, FSBO and Foreclosure listings on one map… and this has me scratching my head!

Are they allowed to do this? Isn’t this type of commingling of listings against MLS rules?

redfin search in woodland hills

Notice the purple and pink icons… Those are REO (foreclosures) and FSBOs, respectively (green icons are MLS listings).

I have four ideas about how they are able to get away with this:

  1. They found a loophole in MLS agreements that let’s them commingle listings (but I would find this hard to believe).
  2. They got buy-off from all their local MLS organizations (but I would find this hard to believe)
  3. They have reason to believe they can win this battle in the courts… (maybe a DOJ brief in support of this or something similar?)
  4. They just don’t care about the rules and believe that consumer support for this feature will be so great that they’ll risk MLS fines.

None of these scenarios seem likely to me. What am I missing?

With that said, I REALLY like how they are approaching the foreclosure data. I’ve received a few press releases recently from real estate search sites that “announce” they are now publishing foreclosures on their site. However, inevitably, when I tested out the feature, the sites were just regurgitating RealtyTrac data that required consumers to pay a fee to get the actual address of the property. Redfin is providing the address.

Also interesting, someone from Redfin let me know that they are going to phase in a flat-fee buying option in order to accommodate these new listings types.

I want to send my congrats out to the Redfin team for pushing the boundaries yet again. Love ’em or hate ’em, they’re working pretty darn hard to deliver features and tools that they think will do a better job serving their customers.

UPDATE:

There’s some debate in the comments about whether there are local MLS rules against commingling of data, with some people claiming it’s just a misunderstanding that the data can’t be commingled.  However, someone (who wished to remain anonymous) send me the following email which demonstrates that for at least one MLS where Redfin is commingling data, the rules are pretty clear:

Check it out:   http://www.imrmls.com/centsite/idx_policy.htm

“4.13. Listings obtained through IDX must be displayed separately from listings obtained from other sources, not including information provided by other MLSs.”

What that says to ME (having experience with MLS rules) is that MRMLS doesn’t allow FSBO properties side-by-side with MLS listings.

Is Zillow worth $225M?

It’s a great question

I thought I’d dive into this question a bit so I started writing a killer-post! My thought was to put together a fascinating post that described likely revenue opportunities at both Zillow and Trulia and I was even going to go so far as to estimate the value of Trulia…

However, after multiple iterations and rewrites, I’m simply not happy with where the post was going so I deleted most of the text and thought I’d let you create your own story out of my notes:

  • Zillow: uniques: 2.2M, revenue: ?, estimated value: ~$225M
  • Trulia: uniques: 1.9M, revenue: ?, value: ?
  • Move: uniques (R.com + M.com): 10.1M, revenue: $286M , value: $503M
  • HouseValues: uniques: 430K, revenue: $59M, value: $56M*
  • ZipRealty: uniques: 1.2M, revenue: $104M, value: $118