Comments on: On the brighter side: 2 things that suggest a path for online real estate innovation in ’09 http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html Turn On Tue, 22 May 2012 20:19:58 +0000 hourly 1 http://wordpress.org/?v= By: Brian Boero http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-6815 Brian Boero Mon, 14 Dec 2009 17:44:55 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-6815 <p>@Joseph</p><br><p>I agree a simple CMA is ideal. But also think, as you point out, that the last thing consumers want to do *first* is contact a sales person. </p><br><p>We could go a long way with this whole idea just by better leveraging the MLS. In fact, I think this should be a core MLS function members should push for.</p><br><p>@Jeff<br><br>"At a glance" is where it's at!</br></p> @Joseph

I agree a simple CMA is ideal. But also think, as you point out, that the last thing consumers want to do *first* is contact a sales person.

We could go a long way with this whole idea just by better leveraging the MLS. In fact, I think this should be a core MLS function members should push for.

@Jeff

"At a glance" is where it's at!

]]> By: Christian http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3475 Christian Tue, 23 Dec 2008 00:38:59 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3475 <p>What stats/info is the consumer actually looking for? What should we as agents be providing them? This is something that I am hoping to find the answer to so that I can better understand and provide for my buyers and sellers. </p> What stats/info is the consumer actually looking for? What should we as agents be providing them? This is something that I am hoping to find the answer to so that I can better understand and provide for my buyers and sellers.

]]> By: Wesley http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3474 Wesley Thu, 18 Dec 2008 21:10:18 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3474 <p>Rita...are you just going to run the data yourself directly from the mls? That's what I've come to. Well, I am going to use BrokerMetrics as they run many of the searches for you, but ultimately it's about data "integrity". If the mls has the best data, and the most accurate, and searchable data, then this is of most interest to the consumer. </p> <p>Obviously, data directly from tax assessor's office is good too, but I think the mls is the best "sample" of data. If we are to be respected as professionals this is what we should be delivering.</p> <p>Is anybody else with me in regard to the Altos Research flaws? They don't monitor "sales". They monitor public active listings...until they dissappear, including expireds, etc., and then have a terminology which they made up to justify not having the sold data.</p> <p>I'm not trying to slander their company or anybody using their data...but c'mon, is it any wonder how we get thrown in the used car salesman sentence.</p> <p>We claim to be professionals...let's deliver professionalism.</p> <p>Wesley</p> Rita…are you just going to run the data yourself directly from the mls? That's what I've come to. Well, I am going to use BrokerMetrics as they run many of the searches for you, but ultimately it's about data "integrity". If the mls has the best data, and the most accurate, and searchable data, then this is of most interest to the consumer.

Obviously, data directly from tax assessor's office is good too, but I think the mls is the best "sample" of data. If we are to be respected as professionals this is what we should be delivering.

Is anybody else with me in regard to the Altos Research flaws? They don't monitor "sales". They monitor public active listings…until they dissappear, including expireds, etc., and then have a terminology which they made up to justify not having the sold data.

I'm not trying to slander their company or anybody using their data…but c'mon, is it any wonder how we get thrown in the used car salesman sentence.

We claim to be professionals…let's deliver professionalism.

Wesley

]]> By: Rita http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3473 Rita Thu, 18 Dec 2008 14:42:18 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3473 <p>Wow, the timing of your post is amazing. We have been developing and concentrating on neighborhood specific market reports and are fine tuning the system. It is so difficult to get that specific data(neighborhood) from anywhere. Which means a lot more work for me.<br /> And I agree, how can you draw any conclusions about general data. How does it really pertain to your neighborhood?<br /> So, we are working on it, on the hyper local level and attempting to have system in place come Jan 09. <br /> We are trying to keep it simple, clear, digestible.</p> Wow, the timing of your post is amazing. We have been developing and concentrating on neighborhood specific market reports and are fine tuning the system. It is so difficult to get that specific data(neighborhood) from anywhere. Which means a lot more work for me.
And I agree, how can you draw any conclusions about general data. How does it really pertain to your neighborhood?
So, we are working on it, on the hyper local level and attempting to have system in place come Jan 09.
We are trying to keep it simple, clear, digestible.

]]> By: Wesley http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3472 Wesley Wed, 17 Dec 2008 23:30:37 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3472 <p>This is pretty timely for me. In the past 30 days or so I've REALLY been researching the analytics/data angle. It's weird to me that I pay NAR, CAR, etc., etc...yet...no-one gives me MY/OUR data in nice bite-size info chunks in an hors d'oeurves(yes I had to look up how to spell that) kinda way that doesn't spill all over your shirt, at first bite.</p> <p>Truth be told...this exercise proved very enlightening to me, in regard to some industry heavyweights who use certain data. I'm not here to bash peeps, but I have always been drawn to the Altos Research graphs/charts. Now...their sales guy on the phone was extremely personable, and truth be told...I was hoping to give my business to him, but after learning of their MAI, Market Activity Index...I felt like I just kissed a dude!! </p> <p>Are you kidding. I'm trying to position myself as an industry professional, who has the current data, only to find out that, a) their data is from public sites, which is notoriously slopply, dated, and eroneous. And b)...this one really gets me...these folks aren't reporting SOLD data...but data that "dissappeared". Yes, that's the data that far too many of my HEROES OF THE PAST real estate professionals have on their sites. Their pitch is...any listing that dissappears, which includes of course, solds, expired, withdrawn, cancelled, contingent. (Including all this fluff is not market data...sorry!)</p> <p>Between you and I...I'd be lying if I didn't want to "out-this" cheap and lazy attempt and market insight for what it was, on each of these fools websites. Here on this site, I think we're pretty insulated from consumer traffic, and would just like some simple accountability. Altos Research is too close to the bucket to not dunk it in! Don't lay it up!!</p> <p>To clarify...I'm just saying...these guys are in the ballpark of a tremendous product...but I just don't think they've dug far enough. At the first sign of oil, they dropped their shovels. Keep digging boys...the glory is in the last mile. To re-iterate...I would love to give you my business...but right now, I could not put my name to it.</p> <p>Upgrade!</p> <p>Wesley.</p> This is pretty timely for me. In the past 30 days or so I've REALLY been researching the analytics/data angle. It's weird to me that I pay NAR, CAR, etc., etc…yet…no-one gives me MY/OUR data in nice bite-size info chunks in an hors d'oeurves(yes I had to look up how to spell that) kinda way that doesn't spill all over your shirt, at first bite.

Truth be told…this exercise proved very enlightening to me, in regard to some industry heavyweights who use certain data. I'm not here to bash peeps, but I have always been drawn to the Altos Research graphs/charts. Now…their sales guy on the phone was extremely personable, and truth be told…I was hoping to give my business to him, but after learning of their MAI, Market Activity Index…I felt like I just kissed a dude!!

Are you kidding. I'm trying to position myself as an industry professional, who has the current data, only to find out that, a) their data is from public sites, which is notoriously slopply, dated, and eroneous. And b)…this one really gets me…these folks aren't reporting SOLD data…but data that "dissappeared". Yes, that's the data that far too many of my HEROES OF THE PAST real estate professionals have on their sites. Their pitch is…any listing that dissappears, which includes of course, solds, expired, withdrawn, cancelled, contingent. (Including all this fluff is not market data…sorry!)

Between you and I…I'd be lying if I didn't want to "out-this" cheap and lazy attempt and market insight for what it was, on each of these fools websites. Here on this site, I think we're pretty insulated from consumer traffic, and would just like some simple accountability. Altos Research is too close to the bucket to not dunk it in! Don't lay it up!!

To clarify…I'm just saying…these guys are in the ballpark of a tremendous product…but I just don't think they've dug far enough. At the first sign of oil, they dropped their shovels. Keep digging boys…the glory is in the last mile. To re-iterate…I would love to give you my business…but right now, I could not put my name to it.

Upgrade!

Wesley.

]]> By: Brian Boero http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3471 Brian Boero Wed, 17 Dec 2008 20:22:24 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3471 <p>@Joseph</p> <p>I agree a simple CMA is ideal. But also think, as you point out, that the last thing consumers want to do *first* is contact a sales person. </p> <p>We could go a long way with this whole idea just by better leveraging the MLS. In fact, I think this should be a core MLS function members should push for.</p> <p>@Jeff<br /> "At a glance" is where it's at!</p> @Joseph

I agree a simple CMA is ideal. But also think, as you point out, that the last thing consumers want to do *first* is contact a sales person.

We could go a long way with this whole idea just by better leveraging the MLS. In fact, I think this should be a core MLS function members should push for.

@Jeff
"At a glance" is where it's at!

]]> By: Jeff Allen http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3470 Jeff Allen Wed, 17 Dec 2008 14:27:45 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3470 <p>I agree wholeheartedly. No one's done it PERFECT yet. I include myself in that group.</p> <p>A simple interface is perhaps the most important thing. People THINK they want all of the information at once, but that's often unmanageable in practice. </p> <p>What's needed is a visually-pleasing and well-managed interface environment that provides meaningful trend analysis at every step.</p> <p>A user should be able to look at a neighborhood-level market analysis and note two key trends within ten seconds. If this goal isn't achieved, you've only added to the miasma.</p> <p>An entity that is starting to illustrate some effective new approaches to data analysis and visualization is Quantcast, which provides free web analytics demographics for every website under the sun (www.quantcast.com). Search for a website, then select "Demographics." </p> I agree wholeheartedly. No one's done it PERFECT yet. I include myself in that group.

A simple interface is perhaps the most important thing. People THINK they want all of the information at once, but that's often unmanageable in practice.

What's needed is a visually-pleasing and well-managed interface environment that provides meaningful trend analysis at every step.

A user should be able to look at a neighborhood-level market analysis and note two key trends within ten seconds. If this goal isn't achieved, you've only added to the miasma.

An entity that is starting to illustrate some effective new approaches to data analysis and visualization is Quantcast, which provides free web analytics demographics for every website under the sun (www.quantcast.com). Search for a website, then select "Demographics."

]]> By: Joseph Rand http://1000wattconsulting.com/blog/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html/comment-page-1#comment-3469 Joseph Rand Wed, 17 Dec 2008 13:25:00 +0000 http://wp.1000wattconsulting.com/2008/12/on-the-brighter-side-2-things-that-point-the-way-to-online-real-estate-innovation-in-09.html#comment-3469 <p>That's interesting, sort of an "Intrade" version of Zillow. It would seem to me, though, that the accuracy of those types of "wisdom of crowds" valuations would require an actual crowd, so you need to reach a critical mass. I'm surprised that more companies don't provide good local market analysis, even if they're just re-packaging the aggragate data that most MLS systems put out.</p> <p>That said, maybe I'm too much of a bricks and mortar guy, but I think the best way to get a fair evaluation of a house is to do a basic CMA-type analysis: what did comparable homes sell for in the past six months, and what are comparable homes on the market for now. Unfortunately, agents have given the "free CMA" concept a bad name, on the level of the "free trip to the poconos, but you have to listen to a two-hour time share pitch," so the last thing most people want is to actually ask a real estate professional for some guidance.</p> That's interesting, sort of an "Intrade" version of Zillow. It would seem to me, though, that the accuracy of those types of "wisdom of crowds" valuations would require an actual crowd, so you need to reach a critical mass. I'm surprised that more companies don't provide good local market analysis, even if they're just re-packaging the aggragate data that most MLS systems put out.

That said, maybe I'm too much of a bricks and mortar guy, but I think the best way to get a fair evaluation of a house is to do a basic CMA-type analysis: what did comparable homes sell for in the past six months, and what are comparable homes on the market for now. Unfortunately, agents have given the "free CMA" concept a bad name, on the level of the "free trip to the poconos, but you have to listen to a two-hour time share pitch," so the last thing most people want is to actually ask a real estate professional for some guidance.

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