Social Media Explained and Expanded

Pat Kitano does it again with this excellent demonstration of social media’s value:


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For example -

I can be contacted here in a variety of ways; below are a couple of the many.

View Jim Duncan's profile on LinkedIn (the closest thing to a resume I have to offer)
Jim Duncan's friendfeed

Jim Duncan Facebook in Charlottesville

Jim Duncan in Charlottesville on Twitter

I’ll go ahead also and use this post as a shameless request for listeners/callers this Sunday on WNRN. A few of the topics we plan to discuss are -

-owners being upside-down when trying sell their house
-being uncomfortable buying in these times, even though it may be the best time around
-how much should a seller lower the sales price?

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June 30, 2008 | Filed Under Blogging, Marketing, Shameless Self Promotion, Technology | Leave a Comment 

Tracking Gen Y in real estate

Gen Y and the Baby Boomers are among the “next big thing” regarding real estate for the foreseeable future. Understanding markets’ specific cultures, intricacies and idiosyncrasies is crucial to business success.

Thanks to Read Write Web’s recent post of OPML files for focused on Gen Y, I did some market research this weekend. Among my findings are these nuggets:

From SheGeeks:

There’s way too much hype being placed on Generation Y. Sure we’re savvy, but we’re also clueless and most of us don’t care to do the research. We’re waiting for these things to come to us while early adopters are going to them. We’re (sic) weren’t the first on the web, though we pretend to be.

How Tabbed Browsing Changed the Way I think

Amanda: No, I was watching The Office and [NEW TAB] did you see that post on TC? I can’t believe that [NEW TAB] lol Amy you know I don’t watch sports. Anyway, I think that we should check out OM this weekend. Does that work for [NEW TAB]

Brazen Careerist:

In the middle of a marketing presentation, I was talking about integrating Social Media into a pretty large company’s summer marketing and branding plans. I was trying to explain why they needed to blog, be on Twitter and integrate their plan to make seamless integrations between platforms. While spitting this out, I came to the conclusion that Gen-Y, or 16-25 year olds in this case, loves getting brand information from a person. We like connecting and building trust with a live human being who has likes and dislikes and tells it how it is. (bolding mine)

Employee Revolution:

Gen Y is an internet culture. We go to freerice.com and think we’re really making a difference.

…

The real movement leaders for most of today’s environmental and social initiatives are Generation X and the Baby Boomers. But they’re marketing to Generation Y. So while many of us are getting involved, nobody has stepped up and led. And that makes me wonder when somebody finally will.

I’m still trying to figure out how best to use this “new” insight and target this market, but they likely will be among the next wave of homebuyers and sellers. Attracting them is key.

May 27, 2008 | Filed Under Marketing | 1 Comment 

Words all home sellers and listing agents should read

Tracking the Bloodhound Unchained conference in Phoenix via Twitter … and in particular, Russell Shaw, listing agent extraordinaire (which is likely underestimating him) … for a quick bona fides on Russell Shaw, read this:

If you think traditional Realtors have had it rough imagine what it is like for the discount real estate companies. In my area, with my stats way down (a little over 75 million production in the past 12 months) my group outsells all of the Help U Sell offices here combined. They have 14 offices (that someone is paying rent on) showing in our MLS and my group does more business than all 14 of them combined - and this is a national company. The small discount companies aren’t even doing that well.

some of the tweets about his presentation, in 140 characters or less:

Courtesy of @AndyKaufman:

Russell Shaw - I haven’t run a print ad in 16 years. Online listing distribution as far & wide as possible.

Also by Andy:

Comps meant nothing on the way up and once again they mean nothing on the way down. No showings = too high, no matter what.

Bolding is mine.

From @MarkEckenrode:

shaw: stay aware of markets needs and adjust your marketing message accordingly

From @JeffRoyce:

Russell Shaw: Put pictures of houses in your marketing even if it’s a dump. Because if you’re selling a dump, you sell a dump.

I wish I could have made the conference, but I am grateful for the knowledge, and in many ways I want to emulate Russell’s success.

More Russell Shaw here:

May 18, 2008 | Filed Under Marketing, Sellers | Leave a Comment 

This is a test - it is only a test (of print advertising)

I have long advocated against print advertising - in 2006, 2007, and this year (there are more stories here, but this is but a sampling) and my argument has been consistent - there is no method by which to track print advertising’s ROI.

But - How does one track a Realtor’s Q Score?

Abode.jpg

This week marks the second week of an ongoing experiment that I have entered with the C-Ville. Can I increase the number of subscribers to my blog through a print ad - consistently placed - in a popular local print publication? In partnership with local real estate search site CurbPlaces and C-Ville, a similar ad (hopefully this week without the typos) will run - time will tell.

Part of business is innovating, and innovation includes trying new things. I tried a banner ad on a local site last year - with no measurable results - so now I’ll try print. Who knows? I doubt I will sell a house directly from this ad, but I wouldn’t be totally surprised if I gain a subscriber who in nine months decides to contact me about something real estate related.

I’m trying to not set any expectations for myself or this experiment. An honest question I have is - who benefits more?

This week’s theme? I am actively requesting new subscribers. CLICK HERE TO SUBSCRIBE.

Here is last week’s ad, which takes up about 1/3 of a page.

Maybe I’m wrong about this experiment, but there is only one way to learn - and failing is a great way to learn.

Curb-places-cville-realcentralva-print-test.png

* The incorrect data displayed in this week’s issue aside, I think this could be a good venue.

May 7, 2008 | Filed Under Albemarle, Charlottesville, Marketing | 9 Comments 

Seeing is believing

Why is this such a challenging concept?

Dear-Craigslist-Realtors-I-Do-Not-Believe-Ads-Without-Pictures

Thanks, Twitter.

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March 5, 2008 | Filed Under Marketing, Public Perception | 2 Comments 

There has to be a better way to market a house

Than a sign on the side of the road.

Unrepresented Seller in Albemarle County, Virginia

Update: It’s owned by a Realtor, I still think it’s owned by a Realtor, as that’s what the tax records say, but this report on local TV news alludes to someone else being the owner. The house has been on the market since March 2006, started at $696k and was last listed for $594k, and is assessed for $504,300.

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February 16, 2008 | Filed Under Albemarle, Marketing | 5 Comments 

Real estate is a gamble

I lost a listing last week, and it came back on market the next day with a different Realtor. After marketing it for six months and getting it more media exposure than just about any other property I’ve marketed (third-party print and television), it’s moving to agent number three today, and I wish them both well.

In marketing the property, I spent time, money, resources and time - only to take home not a dime. Am I complaining? Not at all; it’s the nature of this profession and this particular market.

Will the new marketing - copy, photos, MLS number draw a buyer? I hope so, because the seller needs to sell - the house has been on the market for nearly a year.

Here’s the lesson -

What’s most likely to influence a buyer into actually pulling the trigger and making an offer is the one simple tenet of marketing homes in the Charlottesville or any other real estate market -

It came back on the market at a lower price.

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February 4, 2008 | Filed Under Marketing | 9 Comments 

Which photo would you use?

Or better yet, which one would you want your Realtor to use?

421-Cranberry-Lane

421-Cranberry-Lane

This is the first time I’ve used someone to do post-processing for listing photos. I’ll likely use him again.

Update 1/13/2008: This is Athol’s version -

421-Cranberry-Lane-Crozet-Va-Front

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January 12, 2008 | Filed Under Marketing | 10 Comments 

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