Where Real Estate Gets Its Dirt

Points Baby! Points!

I’m honored to have a special guest contributor to Vendor Alley, Kevin Greene. Kevin is a “road warrior” in more ways than one. I’ve asked him to share his thoughts on making the best use of “points” for travel expenses (a topic he would gladly bend your ear on over several drinks). Kevin is a master at this and I’m hoping other will contribute to the conversation….

So heeeeeeere’s Kevin!

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We all spend a great deal of time (and our company’s dollars) on the road away from family and friends. If you are not taking advantage of the Hotel, Airline and Credit Card point’s deals, you are missing out on a big perk. As well as making you look like a rock star to your kids when you get that upgrade to the Presidential Suite on your all-expense paid (by points!) vacation to the Florida Keys. Here are a few tips:
Pick a Hotel Brand and try to stick with it. Double down and get a Credit Card with the hotel that will double your points when you use it. You will quickly gain status and points. Status will help you book or upgrade to that suite you need for the convention, at a price your company will be happy with. Points will make your family happy when it comes to vacation time. Hotels also treat Nights and Stays differently. So if you are doing that week trip, try to check-in and out each day. 4 Stays is awarded much more than 4 Nights. Plus Stays are what gets you to that Diamond/Platinum status much quicker.

The big thing with any points program – only use points for their products. You will get more bang for the buck staying in the Keys for 4 nights than that iPad or Ruth’s Chris gift certificate. Use your Credit Card points for these items.

Speaking of Credit Cards – I have 3. I have one low/no interest one I use only when necessary. I have a Hotel Visa and I have an American Express. I highly recommend an AMEX, charge everything on it – gas, groceries, electronics, Car Payments – EVERYTHING. AMEX gives extended warranties on everything you buy. Drop that 60” LED TV you just bought getting it out of the car? They will replace it! They also have a generous points program. If you get a Platinum it also gives you Airport/Airline Club Access for free (other AMEX’s you have to pay a fee each time). When you do have that layover or delay, the Clubs are a great place to work. I’ve done many a conference call from Airport Clubs around the country. I have a friend who owns a couple of restaurants. He charges all his company supplies, cars, etc. on his Black AMEX. He uses the points each year to take his managers on a weeklong trip. Last year was Europe – all on points!

We all know you need to stay at the Host Hotel (walking back from the lobby bar is much easier/safer), or it just isn’t feasible to take the one you usually use. It is okay. Sign-up for their loyalty program. It will take you a little longer, but you will get points as well!

-KG

Mike Sparr shares “How To Not Go Out of Business”

Mike Sparr, CEO and founder of Goomzee, just wrote great post about the challenges and decisions vendors face in this business. It’s a long post but worth the read.

How Not To Go Out Of Business

I’ll add to his advice with a bit of my own. Mike talked about the challenges investing in a sales team.

“Now they could make 400 calls per day, automate the voicemail part, reach 90 people daily, do 30 demos and close 1-2 sales. Agents then averaged 20-22 sales/month, bringing my CAC down to about $135. This means at $20/mo product after 7 months of service I pay for my cost of sales and begin earning revenue for the actual product, support, and ongoing R&D. If I wanted to scale sales of this product, I’d have to set aside enough cash to float realistically the first 10 months of every rep’s paychecks before expecting to break-even. You really want to recapture your investment per rep within 2-3 months. Either raise your prices, lower your wages, or roll the dice.”

I would say that adding a Yearly Plan or Two Year Plan, where the agents pay up-front, can help you finance your sales team growth. I’m not sure if Mike meant this when he stated “raise prices”. Good stuff.

Teamwork

Ferrari’s F1 pit stop, just over 2 seconds.

Via Kottke.org

eShowings – the drama continues….

This story just keeps getting more bizarre. Charles Smith, former CEO of eShowings, is about to head to jail. Charles had the brilliant idea of not paying payroll taxes and pocketing the money. Now his wife is taking over the company.

Andrea Brambila of Inman News:

“Lanouette Smith is the wife of eShowings founder and former CEO Charles Smith. Lanouette Smith was on the payroll before the company shut down, but did not have an official title or duties at the company, according to several former employees.”

Wait, what?

It also seems like former employees (or current?) that were ripped off by the company have taken matters in the their own hands.

Andrea Brambila of Inman News:

“Lanouette Smith said eShowings had been the target of a “purposeful and planned destruction” that included the robbery and theft of payroll checks in one office, communication of misinformation to employees in both call centers, unauthorized and inaccurate communication to clients, and “sabotage” to call center equipment and computer systems in Newark.”

Sabotage indeed. Seems like the real sabotage began with Mr. Smith didn’t pay his payroll taxes.

Meanwhile, this leaves their largest client, the Wilmington Regional Association of REALTORS, in a lurch. Who for some insane reason are still using eShowings.

The answer,to all the problems clients of eShowings are having, can be solved very quickly. Find a new vendor. There are a few out there. Here’s a start:

Michael Lane
President
ShowingTime
mlane [at] showingtime dot com
312-222-9780

You’re welcome.

RE Technology hires new biz dev guy

Jason Raya
Jason Raya

“We’re excited to have Jason on board,” says Victor Lund, CEO of RE Technology. “It’s challenging to find someone who is well-versed in our industry. Jason’s real estate and communication expertise will only enhance our ability to support our technology vendor relationships.”

Raya brings six years of internet marketing and entrepreneurial expertise to his new position at RE Technology. He most recently worked as a Senior Internet Marketing Consultant at Z57 Internet Solutions, where he received multiple top producer awards. “Living inside the sales department of a leading real estate technology company is invaluable experience,” says Lund.”

Someone should tell Jason if he wears the hat to a conference he might get beat up.

; )

Pro Tip: Seating 101

Thought my Vendor compadres might appreciate this one.

Musical Chairs (Choosing the right seat)

“These 45 seconds determine how enjoyable your next 2 hours will be. Once the pieces start to fall into place and people take their seats, your choices narrow. People sit, seemingly at random, and if you don’t take the appropriate measures, you’re inevitably stuck at the least interesting end of the table.”

If you think this is about YOU getting the best seat, you’re doing it wrong.

Via Kottke.

Bank of America alters MLS requirements for short sales.

Update: Multiple Listing Service Requirements

“We recognize that listing status classifications may differ by locale and are subject to local or regional MLS requirements. Brokers should follow MLS requirements at all times. MLS statuses such as Back Up, Contingent or Pending may be acceptable. Ensuring that the listing remains on the MLS until an approval letter is issued will help you show that the property was on the open market.”

This is a bit wonky for Vendor Alley but I know its been causing quite a brouhaha with many MLS providers.

Thx Russ.

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