New Website Claims To Bring Real Estate Industry Into 21st Century

bidEupBidEup, a newly launched website, claims to bring innovation to real estate industry, through “patent-pending methodology” (or did they mean technology?). Only real estate agents are welcomed to list properties on the website- at a minimum rate of $120 per 30 day listing. If you would like to list your property with all possible bells and whistles, it will set you back by about $300.

The innovation apparently lies in, as claimed by the website, being “first legally binding virtual market place”. However it is not clear what exactly this “legally binding virtual marketplace” is.

It may very well be that bidEup.com has some outstanding marketing plan in place. However, from a quick glimpse it looks like another “lead generating” website.

New Jersey Association of Realtors: No To Rebates

Is New Jersey Association of Realtors behind the times? Or is trying to protect both customers and real estate agents? The Inman News had a story today about possible legislation by the New Jersey Real Estate Commission:

The New Jersey Association of Realtors is opposing legislation that would allow real estate brokers and agents to provide cash rebates or other gifts to buyers and sellers.

Members of the state’s Real Estate Commission, a regulatory agency that enforces licensing law in the state, has considered the legislation but hasn’t yet announced a position….

….While officials at the U.S. Department of Justice’s Antitrust Division have taken action to oppose bans on rebates in several states, New Jersey Association of Realtors officials contend that the offer of rebates can actually be harmful to consumers.

As of now, cash rebates by real estate brokers is against the law in NJ. But New Jersey is not the only state prohibiting cash rebates. There are 10 other states that do not allow real estate brokers to offer cash rebates to customers.

Are All Lead Generating Companies Full Of It?

One thing is clear, a crappy lead generating company will not be able to survive in the face of new social media. One day one blogger will write about your services and his blog will open a can of warms.

I can’t help myself but wonder if there is any good lead generating company out there. Or all they all full of it? Again, I am not talking about the crappy companies that promise to give you hundreds of leads each month, just to scam you out of your money without delivering on their promise.

What I have in mind are the companies that would not charge you a penny unless they provide you with a lead that eventually converts into sale. No sale would mean a not qualified lead and therefore you don’t have to pay a penny for it.

Many of my readers here are familiar that I am an affiliate marketer. While there are different business models within affiliate marketing, at the end of the day my pay is based on my performance. If I send a visitor to Amazon.com and he or she does not by anything, I do not get paid. If I send a visitor to Lending Tree and he or she does not fill out a certain form, I do not get pain. In other words in order for me to get paid, I need to perform- not just promise. What do you think would happen if I asked Amazon: “I promise to send 100 byers each month to your website. Would you pay me $10 per each buyer?” Well Amzon may agree to pay me $1000 the first month around, but I doubt they would go along with my crap month after month, unless I have sent them 100 buyers each month. Well, people at Amazon and other companies were smarter. You can make money with Amazon, but only if you deliver the goods.

I have heard plenty about one crappy lead generating company. But I also believe that not every lead generating company is worthless. If you have come across a good lead generating company, please share it in the comments. I would be more than happy to write about such companies.

Give Me Your Blog

Figuratively speaking of course…

Many of you know that I have been involved in a project 100 Top Real Estate Blogs. Again, 100- figuratively speaking. If you visited the listed lately you probably know that there are more than100 blogs on the list.

If you blog about real estate and related issues, feel free to submit your blog. I know that this list was criticized quiet a bit for using unreliable statistics. While we attempt to rank your blog, it is not the ranking that matters. It is an extra exposure your blog will get. By submitting your blog, you get a link and we ask nothing in return.

To “make in” for the next update, all blogs must be submitted by 6:00 PM (Eastern Time) tomorrow (April 13).

Social Media Is Defining The New Rules Of Engagement

Thousands of people today are blogging, twittering, making friends on Facebook…

We may not fully appreciate this new emerging force on the internet, but we indeed have already embraced it and even gave it a name- “Social Media”.

This new force is changing the Internet and is writing new rules of engagement, if you wish, for a successful business. And the new rules are rather simple- transparency and honesty.

In my opinion today businesses and inviduals have three basic choices they can make:

  • Embrace thins new movement and follow the new rules. This some times will require to face and engage your worst critics. Most of the criticism out there can be reduced to “this item sucks” or “this is the worst wireless provider”? But if face your critics in an honorable and honest way, trying to improve your products, chances are you will disarm your critics and maybe even turn some of the them into your best allies. Just think about it, most of the times companies are criticized over the type of services or products they offer.
  • Do nothing about it. It looks like many companies out there are so afraid to step out of their shell. The fear is so great that it keeps them “frozen”. These are the companies that we will not remember two years from now.
  • And the of course you can chose to ignore the emerging social media or/and continue to be a complete asshole as far as transparency and honesty are concerned.

You are probably looking in between the lines trying to figure out if the next few paragraphs will follow with the examples. The answer is no. I had different goal in mind…

We have a golden opportunity today. With today technology and the Internet, we have an unprecedented opportunity for promoting our brand. On opportunity that was not available to many just short ten years ago. Unless you and I take on this opportunity and just do two things, be transparent and honest, we are wasting our time and other peoples patience.