Archive for June, 2007

Deflated

The same week Buyside Realty enters the real estate game in Washington State, offering to refund 75% of the commission to a buyer, Redfin announces they’re putting a temporary moratorium on accepting listings in some markets that it serves.

According to John Cooke in the Seattle PI’s Venture Blog, “Redfin Chief Executive Glenn Kelman does not view BuySide as a significant threat even though it passes more money back to consumers.

“A long time ago we had to decide if we were going to match BuySide’s price and we decided not to. We decided to compete on quality of customer service, not on price,” said Kelman. He added that BuySide would be a “more fearsome prospect” if they had gained traction in the markets where the two companies compete.

Buyside Realty also operates a free service called Iggy’s House Realty that allows consumers to list their homes for free in multiple listings services and on Realtor.com. At this time, Fox said that 5,000 homes have been offered for sale through Iggy’s House.

So 66% refund, 75% refund, FREE listings…. Is there any ceiling or floor to the refunds or costs? Perhaps some brokerages will just start charging nothing and actually PAY sellers to list their house with them. Anything’s possible when you’re competing on price. If all you’re offering is low price, then the lowest price will win.

Tickets went on sale this weekend for the White Stripes concert Sept. 26th & 27th at the Paramount Theater in Seattle. Members of Facebook can stream The White Stripes new album “Icky Thump” in its entirety tomorrow, June 19th. You can add the app by going here.

1731 Seminole

Matt Carter at Inman did a post a few months ago called The White Stripes are unZillowable, about lead man Jack White, who put his house on the market for $930K but Zillow had the Zestimate at $256,947.

White Stripes
Jack and Meg White / White Stripes

(Even if you’re not familiar with The White Stripes music, you may remember Jack and Meg White’s personal history. In early interviews, the pair presented themselves as siblings, two of ten. However, the Detroit Free Press famously produced copies of not only their marriage license, but divorce certificate, confirming their history as a married couple.)

Maureen Francis, of SKBK Sotheby’s, had several articles about this home, as I guess it created quite a buzz in Detroit. From what I understand, the particular district of Indian Village, where Jack’s home was located, is a beautifully preserved neighborhood, a historical oasis in a sea of crime and decay, and very few homes in Detroit proper ever get close to the $1M mark. The city itself has been steadily losing population since the 1970′s and many beautiful and historic buildings have been abandoned.

(As a side note, Seattle has been lucky enough to stem the flow of “white flight“, even though we had the same court-mandated forced bussing program for integration that Detroit did. Now, the Seattle Public Schools are some of the best in the country, Garfield High School, an inner-city school, has more National Merit Scholars than tony Lakeside School, Bill Gates Alma Mater, and the suburbs have more gang activity than any inner-city neighborhood. The city of Seattle has higher property values than many suburbs, and the suburbs, if not crime-ridden and full of functionally obsolescent homes and bland architecture (think Kent, Auburn, Lynnwood, Crossroads) are culturally a wasteland with nary a professional theater, orchestra or fine art museum to be found. Redmond, home of Microsoft and a nearby suburb of Seattle, doesn’t have a lot of crime, but it doesn’t have anything else either, except for a mall with a couple of movie theaters. Bellevue, with a population of over 100K and a vibrant economy, has no professional theater, orchestra nor ballet and the only fine arts museum closed and re-opened as an arts & crafts venue with no permanent collection to call its own.)

So, in the Inman blog post, Matt had noted that the Zestimate for Jack White’s house was $256,947, with a value range of $156,738-$706,604. But now the Zestimate is $26,944.

I realize that Michigan does not allow official publication of sales information from their public records, so Zillow can be very ineffective in this situation. But that’s a pretty wide range of value there. Especially since Maureen just told me it sold and closed for $590,000.

I happen to live in a state that allows public viewing of this information and can only imagine how my hands would be tied if not allowed to know what the last sales price was. But, at the same time, it seems like a pretty big invasion of privacy for everyone to know what one paid for ones house. There’s your transparency for ya.

Long Gone John
Long Gone John

One of the White Stripes first albums was released by Long Gone John and Sympathy for the Record Label. In the seventeen years SFTRL has been in existence, John has released over 750 records and helped launch the careers of several other well known, controversial and talented artists, including Courtney Love and her band Hole and The Donnas first incarnation, The Electrocutes. Some of John’s less famous but yet still very notable Sympathy acts over the years have been The Muffs, The Von Bondies, Rocket From the Crypt, The Mumps, April March, The (International) Noise Conspiracy, The Dwarves, Buck, Suicide, The Gun Club, Billy Childish, Turbonegro, Man or Astro-man?, Scarling, Inger Lorre and Motel Shootout, and Redd Kross.

Long Gone John\'s Long Beach living room

Long Gone John is moving himself, having sold his mid-sized Spanish-style home in Long Beach CA, to a mini-mansion on the shores of Puget Sound in Pierce County (where, for the same price as a mid-century rambler in Southern California, he bought himself a waterfront dream home).

John has had a film made about him, “The Treasures of Long Gone John“, about his music business, his impact on music and culture and his fabulous art collection.

Now the same film director, Gregg Gibbs, is making a new film about the MOVE of Long Gone John called “The Gone World“. Apparently, John has so many possessions, items, art, furnuriture, collectables, ephemera, souvineers, object d’art, crap and crapola that it’s been taking months to pack it and Greg is documenting the packing and subsequent move.

Marlow Harris and Long Gone John

(We visited his home last year and documented a bit of his super-fab art collection.)

Apparently it’s taking months longer than planned and more than one moving van. Too bad he didn’t use one of those real estate agents in Southern California who advertise a free moving truck.

The White Stripes (as interpreted by uber-cool Seattle artist Sara Lanzilotta.)

Jack White’s Michigan crib under contract

Jack White Slept Here…and Recorded Here…and Ate Over There…

Jack White’s house sold
on Modern Age (with photos)

360Digest

I’ve been busy, so I missed all the talk about the new Google Street View Maps and the uses they may have in real estate search. That, combined with Google Base, and I suppose they’re poised to make big inroads as the portal to local real estate search.

Now, all they have to do is eliminate all the competing real estate websites, like Yahoo has done, and they’ll corner the market.

All your base are belong to us….

Yahoo, which has penalized agent websites in the past year, has basically banned many if not all real estate website providers. Oh, they’ve left one good one here and there to throw you off the scent, but mostly what’s left are crappy template sites, a few 15-year old Web 1.0 sites, and bigger national pay portals that are not necessarily locally relevant.

It’s been discussed that Yahoo did this to penalize those sites that engage in link-farm spam, but it’s much larger than that. It’s company wide, in some cases, as 100′s of sites from the same website developer, have been eliminated or banned.

Says Terry Light on Search Engine Idiot:

In the smackdown against linkspam, Yahoo acted first, directly penalizing members of linkspam networks coordinated by a few choice real estate website developers. They took action in late 2004, October 2005, and April 2006. Real estate agent websites disappeared wholesale from the top tier of Yahoo Search.

Yet while Yahoo is the second largest search engine on the web, they aren’t Google. Agents who had optimized their sites well generated most of their traffic from Google. Sure, Yahoo’s penalty was annoying, but it wasn’t a major disaster.

Then, in April and May of 2007, Google acted against agent-to-agent network linkspam for the first time. Some experts estimate that between 70 to 200 top-ranked web sites from at least two real estate website developers were penalized. Others believe the number was higher.

It was an IP wide/network wide penalty by domain manually on Yahoo towards Advanced Access, now owned by Dominion.

Says Sandy Teller of SizzlingStudios:

Looks like Google has joined Yahoo in the war against real estate link farms (the Google real estate shakedown), as Yahoo blacklisted a ton of real estate web sites about a year ago including most of advancedaccess.com sites. And there’s no way to get back into Yahoo organic. I actually spoke with someone from Yahoo on Friday and he confirmed that the only way back in is Sponsored Listings (pay-per-click).

Most of us have blog rolls in the sidebar of our blogs, and many of us happily “exchange links” with other real estate bloggers. We even make “wikis” and separate pages full of local, regional information and links. Some of the link love begets itself and we get a link in return.

Will this soon be considered a “link farm” by Yahoo and Google?

Search Engine Disclaimer: “We reserve the right to screw with results and ensure that our high dollar advertisers appear in top placements in organic searches.”

Condemned to Google Hell from Forbes

Google removes credit for reciprocal link accumulation on real estate websites from Real Estate Webmasters

Hand Coding from Matt Cutts

Why does Google lie to SEO’s?

A guide to penalites

How to file a reinclusion request by Matt Cutts

Tattle on your competition: How to report paid links

Inman Bloggers Connect

I’m excited about the upcoming real estate conference in San Francisco, Real Estate Connect. The tagline is “Open Source. Open Data. Open Dialogue.”, and it features such luminaries as Rich Barton, Craig Newmark and my boss, Alex Perriello, President & CEO of Realogy. I even get to speak on a panel at the Blogger Connect conference 7/31-8/1, on “Finding Your Voice”, I’m presuming, on ones blog.

I’m looking forward to meeting all the folks in person who I’ve been chatting with online these last few years, and it will be fun to put a name with a face, especially since some bloggers are still using cartoon avatars (and I just found out yesterday what Teresa Boardman looks like.)

The admission is $99 but goes up to $129 after June 15th, so there’s only 4 more days to register at this reduced rate. Just think, here’s your chance to say all those things to me in person that you’ve been leaving in anonymous comments on my blog.