60 Minutes produced a report about on-line real estate companies. Though Homekeys was not mentioned, Homekeys represents one of the first companies in the country to provide on-line real estate services such as Buyer Rebates and low cost MLS Listings. If your not sure how on-line real estate companies like Homekeys compare with their full service Realtor counterparts then watch this video.
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=2796105n
The Latest News in Real Estate Featuring News on Homes for Sale, Homes for Rent, Selling a Home, and Much More!
Sunday, May 13, 2007
Friday, January 05, 2007
Tech-Based Real Estate Won’t Lose Face
By Manuel J Iraola
CEO & President of Homekeys
The real estate industry is being changed by companies like Zillow, FNIS, RealEstateABC, Trulia, Redfin, ZipRealty and others including our own Homekeys.
All these companies have different business models but share a passion for change and the use of technology for the benefit of the consumer. From free and unlimited access to data, information and resources (previously the exclusive domain of real estate professionals) to significantly lower transaction costs and anything in between.
The incumbents appear to be concerned about the increased use of technology and how it will impact the traditional business model including the role of the real estate agent. With great conviction, the new entrants are pushing the envelope, innovating and preaching the consumer mantra to stake their claim in this $65 billion industry. This has become a fundamental area of debate and unrest within the industry participants, consumer watchdogs and regulatory bodies. No one is to blame, as each party is doing its duty to protect their interests. The answer, however, is being hinted by the consumers.
We believe the face of the real estate agent will be human but technology will be the heart and soul. Empowering technology will afford consumers a more active role in the transaction process, freeing the real estate agent to spend more time providing value with expertise, guidance and attention to transaction details.
Technology will never displace the human factor; it delivers 24 hours a day, 7 days a week. Consumers will conduct business on their time, not anyone else’s. They want to know that when assistance is needed, someone will be available in a reasonable amount of time. Whether that is on the phone, email, text message or web chat is not important. Physical access is not always required and not always desirable. Technology works when the consumer is empowered and has access to the people and resources they demand when they demand it. Access should not require anyone to leave the comfort of their home or office.
There will always be a role for the agent, yet there will be fewer agents and their roles will be different. Because of technology, the industry will become more transparent, more professional and more efficient. Today’s consumers are fiercely independent and technologically sophisticated. They have become increasingly familiar and comfortable with eCommerce and all sorts of “online social encounters”. Our clients grew up with toys like mobile phones, laptops, the Internet, blackberries, and companies like Google, Yahoo, AOL, Expedia, Ebay, Amazon, Realtor.com, Lending Tree and hundreds of others. They even date online and are willing to share their lives on blogs and in sites like My Space. These trends are expected to continue. Our industry, like all others, is completely reliant on its consumer base; does it seem logical to presume that it will be immune to these structural and permanent changes in consumer behavior?
Our industry is not immune. We will have to embrace change sooner rather than later. Agents will be challenged to keep abreast of the latest technological developments in a world of increasing consumer expectations. Technology will redefine the barriers of entry to the industry and its adoption will play a major role in the success or failure of the real estate professional. It should not come as a surprise that historically these barriers have been among the lowest of any industry. Technology will flush the pipeline. There will be fewer agents and their role will be less that of “matchmaker” and more that of “advisor”. Technology will bring down commissions but agents will net more because there will be fewer but significantly more productive agents.
Tech-based real estate companies will streamline and automate all processes that can be automated within the value chain. Short of conducting physical property inspections, consumers will be able to complete the majority of tasks online while relying on interaction with real estate professionals for their expertise when necessary. Online consumers can already conduct powerful map searches, estimate property values, get neighborhood info and comparable sales, view satellite images and county data. It may not be long before they schedule virtual viewing appointments and use ground level photography and advanced mapping to drive around the neighborhood. They’ll then walk around the inside of a home with their remotely conferenced agent and his counterpart asking their questions. If they like the home, they may proceed to virtually drive the comps.
Technology cannot longer be hoarded to perpetuate the existing business model and the traditional roles of agents. Other industries tried and failed because consumer expectations would not allow it. And life is too short to pursue regulation and legislation as the drivers to preempt competition.
Change is here to stay. Change fuels innovation and creativity and is a prerequisite for progress.
The companies and real estate professionals that provide and leverage technology will increase the value of “face-time”. Consumers will be able to take a more active role and the real estate professional will spend their time where they provide the most value: delivering expertise, guidance and attention to transaction details. Those companies will be rewarded by the consumer.
After all, it is always the consumer, who has the final word!
CEO & President of Homekeys
The real estate industry is being changed by companies like Zillow, FNIS, RealEstateABC, Trulia, Redfin, ZipRealty and others including our own Homekeys.
All these companies have different business models but share a passion for change and the use of technology for the benefit of the consumer. From free and unlimited access to data, information and resources (previously the exclusive domain of real estate professionals) to significantly lower transaction costs and anything in between.
The incumbents appear to be concerned about the increased use of technology and how it will impact the traditional business model including the role of the real estate agent. With great conviction, the new entrants are pushing the envelope, innovating and preaching the consumer mantra to stake their claim in this $65 billion industry. This has become a fundamental area of debate and unrest within the industry participants, consumer watchdogs and regulatory bodies. No one is to blame, as each party is doing its duty to protect their interests. The answer, however, is being hinted by the consumers.
We believe the face of the real estate agent will be human but technology will be the heart and soul. Empowering technology will afford consumers a more active role in the transaction process, freeing the real estate agent to spend more time providing value with expertise, guidance and attention to transaction details.
Technology will never displace the human factor; it delivers 24 hours a day, 7 days a week. Consumers will conduct business on their time, not anyone else’s. They want to know that when assistance is needed, someone will be available in a reasonable amount of time. Whether that is on the phone, email, text message or web chat is not important. Physical access is not always required and not always desirable. Technology works when the consumer is empowered and has access to the people and resources they demand when they demand it. Access should not require anyone to leave the comfort of their home or office.
There will always be a role for the agent, yet there will be fewer agents and their roles will be different. Because of technology, the industry will become more transparent, more professional and more efficient. Today’s consumers are fiercely independent and technologically sophisticated. They have become increasingly familiar and comfortable with eCommerce and all sorts of “online social encounters”. Our clients grew up with toys like mobile phones, laptops, the Internet, blackberries, and companies like Google, Yahoo, AOL, Expedia, Ebay, Amazon, Realtor.com, Lending Tree and hundreds of others. They even date online and are willing to share their lives on blogs and in sites like My Space. These trends are expected to continue. Our industry, like all others, is completely reliant on its consumer base; does it seem logical to presume that it will be immune to these structural and permanent changes in consumer behavior?
Our industry is not immune. We will have to embrace change sooner rather than later. Agents will be challenged to keep abreast of the latest technological developments in a world of increasing consumer expectations. Technology will redefine the barriers of entry to the industry and its adoption will play a major role in the success or failure of the real estate professional. It should not come as a surprise that historically these barriers have been among the lowest of any industry. Technology will flush the pipeline. There will be fewer agents and their role will be less that of “matchmaker” and more that of “advisor”. Technology will bring down commissions but agents will net more because there will be fewer but significantly more productive agents.
Tech-based real estate companies will streamline and automate all processes that can be automated within the value chain. Short of conducting physical property inspections, consumers will be able to complete the majority of tasks online while relying on interaction with real estate professionals for their expertise when necessary. Online consumers can already conduct powerful map searches, estimate property values, get neighborhood info and comparable sales, view satellite images and county data. It may not be long before they schedule virtual viewing appointments and use ground level photography and advanced mapping to drive around the neighborhood. They’ll then walk around the inside of a home with their remotely conferenced agent and his counterpart asking their questions. If they like the home, they may proceed to virtually drive the comps.
Technology cannot longer be hoarded to perpetuate the existing business model and the traditional roles of agents. Other industries tried and failed because consumer expectations would not allow it. And life is too short to pursue regulation and legislation as the drivers to preempt competition.
Change is here to stay. Change fuels innovation and creativity and is a prerequisite for progress.
The companies and real estate professionals that provide and leverage technology will increase the value of “face-time”. Consumers will be able to take a more active role and the real estate professional will spend their time where they provide the most value: delivering expertise, guidance and attention to transaction details. Those companies will be rewarded by the consumer.
After all, it is always the consumer, who has the final word!
Tuesday, January 02, 2007
Face Time vs Technology
There are so many questions that surround technology and its continuous expansion. It seems never ending and that every month a new gadget comes into the market, or a new version of a current program is available. There are endless innovations and improvements. One major concern is how technology affects consumers.
Has technology put a dent in face time? Face time is an interaction a person has with another individual that is physically present. It is not a phone conversation or a written email. In today’s world where 7 year olds have cellphones, is it that important anymore to be physically there?
In order to buy or sell a property, has technology helped facilitate the process by providing tools and information that were never before available to consumers? Or is it hurting the consumer by withholding the face time provided by traditional Real Estate Agents in order to provide quicker and more informative service? Is face time only necessary for some transaction like buying a car, and not necessary for others like ordering a pair of shoes?
Has technology built a wall between people or provided more information to make better decisions? Maybe technology provided too much information…
There are countless answers and opinions to all these questions, but it is important to remember that technology has not yet reached its pinnacle. It has yet to achieve greater expectations and further break barriers. In the upcoming year, how will technology affect real estate?
What will websites like Homekeys, Zillow, Redfin and others do to support buyers and sellers and make itself stand out from each other? This is a question that has no direct answer, the only way to find out is to wait and see.
Jen
Monday, January 01, 2007
Resolutions in 2007
The New Year brings the availability of a re-do of sorts. The infamous resolution. Something we are going to change about ourselves or our behavior in the new year. Most people really don't take advantage of this gift and most people should.
For the resolution to be meaningful it must be personal. The classic resolution is going to the gym or going on a diet. Things that are meant to make ourselves feel better about us. Why not this year commit to doing something for someone else.
Your resolution does not need to be something you do all year long. It could a single day spent helping someone. Or it could be spending a weekend enjoying life with the ones you love.
Mother Teresa said that our first ministry is to our family. If that was our resolution this year think of the amazing things families could do all year long.
Here are my two resolutions for the year:
1. To put my family first, then others, and then myself. Every decision based on this simple premise that joy can only be found when we decide not to be selfish.
2. Show my children the love I have for their mother. Allow them to feel safe and secure in that knowledge.
Listen to your gut and take advantage of this re-do. It only comes around once a year.
For the resolution to be meaningful it must be personal. The classic resolution is going to the gym or going on a diet. Things that are meant to make ourselves feel better about us. Why not this year commit to doing something for someone else.
Your resolution does not need to be something you do all year long. It could a single day spent helping someone. Or it could be spending a weekend enjoying life with the ones you love.
Mother Teresa said that our first ministry is to our family. If that was our resolution this year think of the amazing things families could do all year long.
Here are my two resolutions for the year:
1. To put my family first, then others, and then myself. Every decision based on this simple premise that joy can only be found when we decide not to be selfish.
2. Show my children the love I have for their mother. Allow them to feel safe and secure in that knowledge.
Listen to your gut and take advantage of this re-do. It only comes around once a year.
Thursday, December 28, 2006
Halfback
Halfback does not always mean Football’s running play. The word is also used to label long time Florida residents who are moving to the Carolina's upstate region, since it means they have moved halfway back North.
The Herald Tribune, based in Southwest Florida ran a story about those in that area who are migrating to the halfway states. There are many who are moving from Sarasota and Manatee Counties, but in general it is retirees who are seeking retirement havens. The reasons for the move vary, but halfway states provide a different lifestyle. There is much less congestion with people and traffic, and above all it is less expensive as well as easier to live.
Some may wonder how different it would be to move from a happening city to a rural area, but South Carolina’s region is not all rural. And for the areas that are rural, half of the Hispanics who migrated in the past few years moved to the rural areas. In addition to this, there are many people from around the world, especially corporate retirees who crave the relaxing atmosphere and mountain views.
There are also many international companies including BMW’s plant near Spartanburg.
Properties are much more affordable and though there is a state income tax, the low property taxes make up for it. It is also a buyer’s market in South Carolina, but they have not experienced the over or under stock of inventory that South Florida has.
The Herald Tribune, based in Southwest Florida ran a story about those in that area who are migrating to the halfway states. There are many who are moving from Sarasota and Manatee Counties, but in general it is retirees who are seeking retirement havens. The reasons for the move vary, but halfway states provide a different lifestyle. There is much less congestion with people and traffic, and above all it is less expensive as well as easier to live.
Some may wonder how different it would be to move from a happening city to a rural area, but South Carolina’s region is not all rural. And for the areas that are rural, half of the Hispanics who migrated in the past few years moved to the rural areas. In addition to this, there are many people from around the world, especially corporate retirees who crave the relaxing atmosphere and mountain views.
There are also many international companies including BMW’s plant near Spartanburg.
Properties are much more affordable and though there is a state income tax, the low property taxes make up for it. It is also a buyer’s market in South Carolina, but they have not experienced the over or under stock of inventory that South Florida has.
Thursday, December 21, 2006
Green guidelines
As the century continues and the risk for Global Warming increases each day, it’s good to know that some companies are taking measures to become environmentally friendly.
According to The Boston Globe, Boston is in the process of requiring private development firms to follow “green-building” standards.
The purpose of these strict standards is to make Boston buildings more energy efficient and friendly to the environment by using recycled materials as well as resourceful heating and cooling systems. In today’s world of hybrid cars and solar powered gadgets, I think it is only time before more industries try to convert to more environmentally friendly resources.
I am the Graphic Designer here at Homekeys, and having been raised in Boston, I think they are proposing a great requirement for private builders. Being energy conscious, I think this is a step in the right direction for everyone’s future. I wonder how things would be different today if we had only known to be more energy conscious 30 years ago? Either the heating or cooling system is used year round in Boston and wastes a lot of There are currently many U.S. cities that have adopted green building standards, but only for public buildings and development.
When the Boston Zoning Commission adopts these standards next month, Boston will be the first major market to require private builders to follow these guidelines.
This affects real estate in many ways because developers will now have to certify that they have met the green-guidelines and the city will have to confirm. Developers are worried that it will be more difficult to start projects this way.
In other news, here are the pictures from yesterday’s Secret Santa.
Pictures From The Party
According to The Boston Globe, Boston is in the process of requiring private development firms to follow “green-building” standards.
The purpose of these strict standards is to make Boston buildings more energy efficient and friendly to the environment by using recycled materials as well as resourceful heating and cooling systems. In today’s world of hybrid cars and solar powered gadgets, I think it is only time before more industries try to convert to more environmentally friendly resources.
I am the Graphic Designer here at Homekeys, and having been raised in Boston, I think they are proposing a great requirement for private builders. Being energy conscious, I think this is a step in the right direction for everyone’s future. I wonder how things would be different today if we had only known to be more energy conscious 30 years ago? Either the heating or cooling system is used year round in Boston and wastes a lot of There are currently many U.S. cities that have adopted green building standards, but only for public buildings and development.
When the Boston Zoning Commission adopts these standards next month, Boston will be the first major market to require private builders to follow these guidelines.
This affects real estate in many ways because developers will now have to certify that they have met the green-guidelines and the city will have to confirm. Developers are worried that it will be more difficult to start projects this way.
In other news, here are the pictures from yesterday’s Secret Santa.
Pictures From The Party
Wednesday, December 20, 2006
55
Is the number of pounds we gained as a team as all 13 of us gobbled our way through all the pork, ribs, and flan one could think about. After stuffing our faces and most of us having seconds, we finally exchanged presents.
The list goes like this: Manolo had Bill, Bill had Ally, Ally had Carlos, Carlos had Mario, Mario had John, John had Robert, Robert had Manolo, Jose had Mary, Mary had Yani, Yani had Rick, Rick had Jen(me), Jen(I) had Vivian and Vivian had Jose.
We got all sorts of gifts, but at least 4 of us got some type of liquor. Like Los said, it was no secret and a few minutes after the gifts were distributed, everything was figured out and in the end we all knew who our Secret Santa was. I never knew that once we got the gift, that it is still a secret and we are still not supposed to say whose Secret Santa we were. So as one can imagine, I was one of the first to confess.
After the food and presents, our CEO Manolo gave a speech about how Homekeys is getting better every quarter and about our plans to expand for the future. Soon after that, we were ready to bring out the dominos to give Manolo and Mario a chance to regain their title as champions that Yani and her friend stole during our Christmas party. As for real estate, we are now ready to tackle the phones and our individual tasks with satisfied bellies and happy faces.
The list goes like this: Manolo had Bill, Bill had Ally, Ally had Carlos, Carlos had Mario, Mario had John, John had Robert, Robert had Manolo, Jose had Mary, Mary had Yani, Yani had Rick, Rick had Jen(me), Jen(I) had Vivian and Vivian had Jose.
We got all sorts of gifts, but at least 4 of us got some type of liquor. Like Los said, it was no secret and a few minutes after the gifts were distributed, everything was figured out and in the end we all knew who our Secret Santa was. I never knew that once we got the gift, that it is still a secret and we are still not supposed to say whose Secret Santa we were. So as one can imagine, I was one of the first to confess.
After the food and presents, our CEO Manolo gave a speech about how Homekeys is getting better every quarter and about our plans to expand for the future. Soon after that, we were ready to bring out the dominos to give Manolo and Mario a chance to regain their title as champions that Yani and her friend stole during our Christmas party. As for real estate, we are now ready to tackle the phones and our individual tasks with satisfied bellies and happy faces.
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