Crowsourcing is the process of arriving at the best solution by aggregating information from a large number of sources. Crowdsourcing works because, apparently, human beings are smarter as a group than any one of us is individually.
The Internet is an excellent medium for crowdsourcing because it can accept input from so many people. One local real estate board is making use of the Internet’s crowdsourcing capabilities to raise the bar professionally.
The Houston Association of Realtors® (HAR) has created a Client Experience Rating system, which uses information from the “crowd” to assess the performance of real estate professionals. At the conclusion of each transaction, buyers and sellers are invited to rate their agent. Clients are asked to rate their agents on competency, on the agent’s knowledge of the market, on how well the agent communicated with the client during the process, and on the client’s overall experience. Clients area also allowed write free-form comments about their agent, and about their buying or selling experience.
HAR complies these surveys and gives each agent a score (e.g., 4.8 stars out of 5). Agent’s scores are then posted in a number of places on the HAR website, including on the agent’s web page and alongside his or her MLS listings. Prospective clients can see the agent’s score, and can know many transactions that agent has completed before hiring him or her. At some point, the Houston Association of Realtors® plans to allow clients to search for agents by score, which will, no doubt, reward better agents over time and weed out weaker ones.
Crowdsourcing has allowed Wikipedia to become a bigger, more vibrant encyclopedia than any paper reference book could ever be. Crowdsourcing has the potential to raise the stakes for the real estate profession as well.
Real estate plug-ins aren’t all that common, so it’s nice when one comes along that’s functional and attractive. That’s the case with Dan Green’s Real Estate Chart of the Day, which which I’ve installed in the column to the right.
It makes a nice addition to your real estate blog and installing it is easy. You can even configure it to match your blog’s color scheme. Watch the tutorial below for step-by-step instructions.
Prospecting is arguably the most important thing you do in a given day or week. Without some sort of prospecting, you can’t attract or hold onto clients and without clients, nothing else you’re doing in your professional life really matters. Prospecting is essential for your success and that’s especially true in a sluggish economy.
But what activities offer the best return and how much time should you spend doing them? Is social networking as effective as more traditional kinds of marketing? Can socialnetworking completely replace traditional marketing? Is an hour spent online engaged in social networking equivalent to, say, an hour spent doing volunteer work in the community in terms of the contacts you’ll make and the business those contacts will generate? How do you know?
A recent article in the New York Times Magazine highlights the growing number of people who use computer software and, increasingly, mobile phone applications, to track their activities. People are logging everything from their dieting and weight-loss activities to their moods, their health issues and even their sleep habits. Online and mobile productivity tools make it easy to track how you spend your time and how much social networking or marketing you’re engaged in.
If you’re already checking in throughout the day and noting where you are or what we’re doing on Twitter and Foursquare, it’s easy to add an application like BubbleTimer to the mix. BubbleTimer lets you log what you’ve been doing at 15 minutes intervals all day long. At the end of the day, you can have a clear picture of how you’ve spent your time and within a few weeks you’ll be able to spot your personal trends.
Compare the number of clients who found you online with, say, the number of hours you devoted to socialnetworking over a given period of time. Or consider the ways that the Internet and its never-ending stream of information cause you to waste time. What could you be doing instead?
Successful business owners monitor their activities and continually hone their marketing strategies and you should, too.
Professionals in both industries are viewed with suspicion and distrust; “real estate agent” and “auto salesperson” often appear on lists of the least respected professions.
Both industries are being forced to change as consumers—armed with information they’ve found on the Internet—bring new and different expectations to the sales transaction.
Both industries have suffered through months of tightened credit and unemployed consumers, and both have benefitted from government tax credits that have encouraged sales.
But here’s something interesting to note: despite the near bankruptcy of several major automakers (or perhaps because of the bailout that followed) the auto industry is quietly improving. Even Toyota, which suffered weeks of bad press following the recall of problem vehicles in early 2010, had a rosy month in March compared to last year.
Everyone loves a success story; write about successful people in your community and your readership will grow. People will be encouraged by your stories and at the same time, you will help make your community appealing to prospective buyers.
Write about people in your neighborhood who’ve overcome tremendous odds.
Share stories about local companies that have donated to outstanding causes.
Describe heroes in your community who’ve lent their time and talent to help people in need.
Write about nearby churches or community organizations whose soup kitchens or homeless shelters have bridged the gap for people in these tough times.
Feature a senior citizen who’s gone back to school or who is doing great things in retirement.
Tell about teenagers who are making a difference.
Highlight local teachers, police officers, nurses, or fire fighters whose efforts go above and beyond what’s required of them.
Scour community newspapers and websites for people to write about. Include photos and testimonials on your blog. Encourage people in the community to contact you if they know of others you could feature. Focus on the positive in your area and let it become the centerpiece of your blog.
The more you do this, the more people will see you as an asset to the community. Market yourself without directly marketing yourself.
Know a real estate professional who needs help with technology? Saundra Washington at TechTools Training has the answer. Contact Us or click the Training link above to find the training option that's right for you.
Crowsourcing is the process of arriving at the best solution by aggregating information from a large number of sources. Crowdsourcing works because, apparently, human beings are smarter as a group than any one of us is individually.
