I don't often attend industry conferences, but this one was irresistible... Inman is all about that point where technology and real estate collide (I'm sorry, I mean, connect). And like it or not, technology is changing the real estate landscape. So, what have I learned?
A) Most Realtors still don't understand how to leverage the Internet. B) Some do, and they shall inherit the Earth. C) New business models are challenging an archaic system of doing business, creating serious opportunities for those with an open mind. D) Attention entrepreneurs: stop making listing search portals. Ho-hum, a dime-a-dozen, I don't have time to enter my listings on 50 different vertical search sites that reach fewer than 1 million users a month. Instead, please create an effective lead management system that helps me manage online client relationships, with input from real agents working the business (I know the engineers mean well, but...) This is the biggest problem every practitioner struggles with. If you succeed, you will go IPO and make millions.
But, the most important thing I learned? Realtors will buy almost ANYTHING that promises oodles of Internet leads. So, if I'm ever to fulfill my get-rich-and-retire-to-Incline Village plan, I need to think of a new way to sell online leads to Realtors.
PS: So, last night, I was invited to some swanky San Francisco home in the Presidio offered for $15,000,000 because I work for Chase International, and we're all about luxury. The hostess, a powerhouse in the luxury world, who I hear is, ahem, difficult at times, served wine, champagne and five-star hors d'oeuvres, so I immediately liked her. The place was packed to the gills, and a couple of them may have even been qualified buyers. (If I were a better networker, I'd have been working the room for the Google-riche.) But I must say, for that kind money, I would have expected a much better view of the Bay.
Then I met the guy who bought the Girls Gone Wild House in Incline. Apparently, he alternately gets checks in the mail and lawsuits for former resident, good ole Joe, pretty much on a daily basis. One day, a big guy from the Mandalay Bay named Guido showed up on his doorstep, and it was all he could do to convince the guy that he wasn't Joe and that Joe had moved to Puerto Vallarta. Small world, eh? Anyway, Magazine Guy gave us a ride in his stretch limo to our restaurant, four blocks away. Though I'd love to credit my amazing charm for scoring such a spiffy ride, all he really wanted was to pitch Shari Chase on a multi-page spread in his magazine, so I became one with role of accessory in the power broker entourage.
BTW, Shari Chase and Sue Lowe just listed a home for sale at the Lake for $100,000,000.00, making it the third most expensive residential property for sale in the US behind The Sheik's place in Aspen and The Donald's in Florida. If any of you happen to have that kind of money and want to buy it, please call me. I'm sure we could get it for less!
Nice going, Diane!
And congrats on the success of your business through your blog.
Sorry I missed the left coast connect. I'll be at the NYC connect (my front yard) this Jan. Hope you can make it here. Best, Michael
Posted by: Michael Daly | August 05, 2007 at 12:33 PM