The economy’s decline leveled off significantly from April through June, confirming  that the worst is behind us.

GDP declined at an annualized rate of 1 percent in the second quarter, after shrinking an amazing 6.4 percent earlier this year. But consumer spending, 70 percent of economic activity,  continues to fall as Americans continue to save and  reduce debt. Economists express concern that our basic spending habits have been permanently altered by this great recession. This is also having an effect on rentals as renters downsize or insist on rent reductions.

With this as a backdrop we looked at rental rates which a are a prime factor in evaluating a property. We clearly have a long way to go. The Dept of Commerce chart indicates we are at a fragile beginning of a recovery. The key to successful property ownership now will be to keep it occupied and ride this out. Continue reading this post

In less than 24 hours HomeGain will kick off its “Live” Nation event in San Francisco.

For the 80+ Realtors, bloggers and real estate industry folks attending, the festivities begin 24 hours from now!

Attendees will be able to post comments and upload photos or videos to:

• Twitter — HomeGain Nation Tweetpic
• Flickr
• Facebook
• HomeGain Nation

Max the HomeGain Gorilla Bobble Heads will make their debut at the event. Attendees will have to answer trivia questions to win one!

The Bobble Heads are customized, hand painted, limited-edition collectibles. Make sure you pay attention to what’s being said during the presentations!

View the Full Agenda

For those of you who will not be able to attend, we will be also be posting videos from the sessions after the event here on the HomeGain Blog.

Follow the event on Twitter #homegainnation and get clues for how to win a Max Bobblehead.

Visit the The Fairmont San Francisco website.

We are looking forward to meeting everyone!

When I was just a young pup in the real estate business, a mentor of mine spoke a few words that I’ve kept tucked away in the back of my head to pull out when I need to. 

He wisely spoke, “no matter how you attempt to generate business, it always gets down to going nose to nose and belly to belly with people.”

I can’t help but think about his words many years later as social media has taken a big bite out of my day. Five years ago neither blogging nor tweeting was in my vocabulary and posting photos on Facebook or Flickr wasn’t in the picture (excuse my pun). 

In the last two years, I’ve been to more than a few conferences and attended a whole bunch of technology panels. Heck, I’ve even been a panelist several times myself. What I found is that many of the “experts” may be whizzes at social media but they aren’t experts in real estate.

Don’t get me wrong, I learn a lot from these folks about technology. I take good notes and put what they have to say into practice. But it suddenly occurred to me that something is missing from the resume of many real estate social media speakers and panelists: real estate experience. (As in selling a whole bunch of houses kind of experience.) I worry that newcomers to the business think that social media is the magic bullet when it really should only be a part (maybe a small part) of their prospecting efforts.  Continue reading this post

At the end of March, I was fortunate to be asked to be a guest on a national radio show called The Takeaway. There is an accompanying blog post here and you can listen to the 8 minute radio interview from there. As fun as it might be to be a part of a radio show, I wouldn’t have done this if not for the basic premise that differed from much of what we hear from the media.

The premise here was that the market is shifting — for the better. The interview came because of another blog post I wrote that was picked up in the research of a national reporter showing something different than what we hear from most “media” sources. Basically, some professional insight backed up with statistics that shows something different than the gloom and doom we hear which is partially fueling the perception problems many of us are seeing in the market today.

What I’m really trying to say is that we are our local experts and when we take the time to articulate the information and experience that we have, we can make a difference and with the mindset of many buyers today, we need all the help we can give to each other! We are the professionals in our market and we need to actively participate in the dialogue lest we spend our time complaining rather than helping the cause.

There are lots of ways us Realtors can do this; Continue reading this post

Consider: Why do you think they call it “social” media?

In the words of Todd Carpenter who was recently appointed as social media manager at the National Association of Realtors :

“You won’t “get” Twitter until you stop trying to figure out how to get business from it. You have to do it for fun. You have to genuinely want to talk to people, not market to them. If you just try to market yourself there, nobody will want to connect with you.”

Remember social media whether facebook or twitter, is not business media. Mixing business with pleasure is often difficult and ill advised.

“No man is poor who has friends” – George Bailey- It’s a Wonderful Life

Did he mean you could make money off them on Facebook and Twitter?

Todd futher advises:

“Again, I’m on Twitter because I like to meet and talk to people. I don’t care if it ever earns me a dime. But on the other hand, the top referrer to my newest blog is… Twitter. Five of the first six people who confirmed they were coming to RE BlogWorld, I met on… Twitter. The local meetup of RE 2.0 talent I organized today was promoted and organized largely on… Twitter.

I didn’t “get” Twitter either because I was trying to figure out a business use for it. But I got hooked on it because it was fun, and now the business opportunities are bearing fruit.”

I am not sure that social media “works” for business, but many are having fun trying. 

Louis Cammarosano

The problem with online marketing for real estate professionals is the reality that learning online marketing has little to do with real estate practice. Remarkablogger confirms one of real estate’s online marketing principal missions – lead generation and conversion.

If visitors don’t take actions that result in profits, you are wasting your time.
You can do all the SEO work you like, but if nothing happens when visitors show up, you did it for nothing. You can pay tons of money in advertising, and you have thrown away every penny if nobody buys anything or signs up for your newsletter. You can write comments on other blogs and work through social media to attract visitors, but if those visitors just bounce right back out of your site without doing what you want, you’re leaving money on the table.

Mastering the tricks and vagaries of effective online lead generation are beyond the scope of 99% of real estate professionals. The industry knows this, and online real estate applications have historically aimed to simplify or automate online marketing presence for agents: Continue reading this post