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Archive for the ‘Geography and Mapping’ Category

Local Media Blogs & Real Estate

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A Cornucopia of Local

A Cornucopia of Local

The New York Times, in a bid to stay relevant in the new media environment, has weighed in on the phenomenon of local place-blogging:

Suburban bloggers, though, spawned a subgenre of narratives about diaper changing, neighbor trouble, temporary traffic snags and other subjects rarely considered worthy of publication in previous eras.

Back then, it was hard to tell whether these lonesome scribes could sustain the chore over the long run, and if they did, what sort of audience they might attract.

Nearly a decade later, bloggers in the suburbs are starting to answer those questions. Many have let their sites go untended, but a few have built serious local journalism operations, while others have developed a following on certain topics and bask in the muted limelight of Internet fame. These survivors offer newly minted bloggers a pixilated blueprint for how to rise above the chaos of the blogosphere. For readers, the blogs are providing news in ways unseen in traditional local news media.

Interestingly enough, not one of the local blogs that the Times profiled was written by a real estate agent. Granted, this may be the result of bias on the part of “journalists” to highlight those blogs that are “newsy” in nature. But there may be something more going on here.

In fact, I believe every real estate blogger should take a good hard look at the websites mentioned in the article: Baristanet, Red Bank Green, Hoboken411, WestportNow, and New Haven Independent. Unless your hyperlocal blog is getting 82,000 monthly visitors (the number that Baristanet.com gets), you might want to think about emulating what is obviously working.

For myself, what immediately stands out that differentiates these local blogs from realtor local blogs is that they are media companies and operated as such by media people. The most important impact of this is that these blogs are relevant for people who are not looking to move into the neighborhood. They are relevant for people who just live there.

In contrast, most local realtor blogs are completely irrelevant to current residents. As a result, they cannot offer the kind of news, insights, and a feel for actually living in that town that the local media blogs can.

I mentioned in the comments of this post that I really liked Perri Feldman’s NJRealEstateWire site. And I do, so take the critique with that in mind. The problem here is that while I appreciate the site as someone in the real estate industry, I have no reason to bookmark it and visit it as a resident of Millburn — a town that Perri covers. As it happens, Millburn doesn’t have a local media blog like Baristanet, but if it did, I would bookmark it and visit it constantly.

Just as a comparison, look at the top three most recent posts right now on the frontpage of NJRealEstateWire and on Baristanet:

NJRealEstateWire has:

Baristanet.com has:

Is there any question that if I were interested in getting the feel of a town, I would get more out of Baristanet (for Montclair area) than out of NJRealEstateWire (for Millburn area)?

The sad thing here is that the local realtor blogs end up working against its goals: reaching people who are interested in a particular neighborhood and its goings-ons. It’s impossible to brand yourself as a local expert in the community when the local people aren’t reading your blog, and there is no conversation going on.

Look again at the number of comments on Baristanet, and compare that to the number of comments your typical local realtor blog generates. There is no comparison.

What’s ironic — perhaps tragic — about this is that perhaps the local realtor is often best suited to be running a local media blog. As part of her job, the local realtor is going to know quite a bit about the feel of a neighborhood, the shops, the city council actions, schools, in short — what’s going on. But because she aims so much at trying to sell houses and getting leads off her blog, she will end up producing content that most people are completely uninterested in reading.

At the same time, as licensed real estate professionals, realtors are under certain regulations that the non-realtors are not. They have to be careful about what they say or write about a particular area in a way a journalist does not. What to do?

Free Advice

Keeping in mind that advice is often worth what you’ve paid for it, here are my thoughts.

1. Decide what business you are in when blogging

Are you in the home-selling business when you’re blogging? Or are you in the local media business? Decide, then act accordingly. This could mean that you setup a separate operation for your local blogging and avoid tainting it with overt commercialism. Or it could mean that you focus simply on realty blogging, understanding that you will be at a major disadvantage when up against a real local blogger.

2. Create an Ecosystem for your Local Blogging

Since most realtors are actually in the business of helping people buy and sell homes, it doesn’t make much sense to start a second job in local media. This means that realistically, what you need to do is to create an ‘ecosystem’ of local blogs in your neighborhood. Encourage someone to start a local media blog, with both content (you can write about local real estate issues) and with cash (advertise on their local blog). Reach out to other people who may be able to write about one aspect of your town, then bring it all together under one local media operation.

Just because you can’t directly compete with the likes of Baristanet does not mean that you have to cede the real estate advice area to someone else. Become the local real estate columnist and write all about the local market, constantly.

For example, like this.

3. Separate our your professional marketing and your blogging activities

Make sure you have a website for your brokerage operations — a clean, well-designed brochureware/search site that is aimed at those who are looking for representation. At the same time, don’t let your blog become just an advertising platform for your brokerage business. I can’t think of a quicker way to lose credibility than to use your blog to overtly troll for business. This is also the hardest thing to do.

Even we here at Onboard Informatics have issues with this. When you’re passionate about your business, you can’t help talk about it. Our mantra here is to use the blog simply to converse and communicate, but sometimes, we find it hard not to talk about our services and products. So cut yourself some slack, but at the same time, remember to at least try and maintain a Church and State separation.

Local blogging is the next wave. People are inherently more interested in news that affects them personally. But what they want to hear about is local media — news, opinions, etc. Real estate only plays a part of that picture — an important part, but still only a part.

So start talking to your neighbors — form that ecosystem. And give your neighbors (and visitors) what they’re looking for.

-rsh

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Written by -Rob

August 20, 2008 at 3:11 pm

Geo-Marketing: Possibilities

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Ooo, pretty colors!

Ooo, pretty colors!

One of the more interesting things I’ve heard at Inman SF in July was in hallways and during the Q&A of sessions. Apparently, a number of brokers are seeing an increase in foreign buyers of U.S. real estate. This is something that has been going on for a while, as this series on Inman illustrates, especially in the higher-end luxury market, but we are apparently starting to see foreign buyers spreading out of the top end luxury markets.

The response from the brokerage industry, of course, is an understandable desire to do some international marketing. If 15% of your customers are coming from Germany, it certainly makes sense to do some advertising in Berlin.

By all means, do international advertising. But while you’re at it, consider applying the same concepts to your local marketing as well.

Geo-marketing is not something that only applies to strangers from a strange land, where you are automatically thinking about where your buyers are coming from, and what you’d want to tell them in order to have them contact you. This notion can and should apply to your domestic, local clients as well.

A number of Onboard Informatics’ clients get detailed neighborhood data from us, including some of the best local neighborhood boundaries. What I’ve found a bit odd is that while our financial clients tend to use that data for internal data analysis, our real estate clients almost never do. They use neighborhoods only to enable consumer tools, such as local neighborhood search. Such hyperlocal search is a wonderful tool for consumers, so we encourage our clients to enable it. The utility of neighborhood information, however, is not limited simply to using it on your website.

With relatively simple GIS systems, a brokerage can map where their customers are coming from, especially if you have access to detailed neighborhood boundary information that can be uploaded to the GIS system. That could lead to some interesting insights.

For example, let’s say you’re a broker in suburban NJ. You know that some percentage of your buyers are coming from Manhattan, fleeing the extraordinary housing prices in the City (over $2m for a 2BR condo in June of 2008). You take your customer list over the past three or four years, and upload them into the GIS and map them to specific neighborhoods (you do have the former addresses of your clients, right?). You discover that over half of your buyer customers are hailing from downtown — specifically, Soho and Tribeca. This is shocking because you always thought of your buyers as people who work on Wall Street and live in cramped little boxes in some anonymous building in the Upper East Side.

Im too sexy for this blog.

I'm too sexy for this blog.

That insight can completely transform the way you do advertising. Perhaps instead of talking about proximity to Wall Street, you start talking about how your town is a community for artists, designers, and creative people. You update the look and feel of the ad to appeal more to the hip downtown lifestyle, instead of to the suits and power ties of the Wall Street crowd.

Even if you are in a market that doesn’t have pre-defined neighborhoods, you can apply your own knowledge of local neighborhoods to create useful geo-marketing templates. Most towns can be divided into distinct areas with their own flavor, neighborhood personality, and demographics — income, education, profession, etc. Most GIS systems will allow you to define your own ‘neighborhood area’ — then overlay it on top of the underlying data. If you know that there’s a new shopping mall going in somewhere, for example, you could make a custom neighborhood for a 5-minute drive time radius and start sending postcards to the houses in that area letting them know the value of their houses are about to go up (or maybe down, I suppose, depending on the mall and the neighborhood).

The saying that all real estate is local is true. But it is also true that all customers are local. As real estate professionals, we’re all very aware of a property’s location, characteristics, features, and so on. Many realtors are experts when it comes to their local market, and yet are novices when it comes to their customers.

So think about geography. Consider what you can do with neighborhood data, not just for your website visitors, but also for your own marketing and business operations.

(Okay, caveat time: even the simplest GIS system can be a bit of a bear to operate, while the more powerful systems require significant training. If you’re an Onboard client — please contact your Account Manager to find out about our custom GIS capabilities.)

-rsh

Written by -Rob

August 4, 2008 at 7:08 pm

Measuring the Value of Information, Part 1 – The Content

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Whenever you spend money on anything you always should ask yourself a few questions, the first one being, “Is this worth the money?” I am sure many firms consider this and many other questions before making the decision to invest in something. Ultimately, this decision should be based on more then money. It should be based on the relationship they have with a firm. In the first installment of this series, I want to examine what clients are really getting when they purchase data-related products. To do that, I have to start with the fundamentals – the content.

As we tell our clients, Onboard Informatics collects data from a myriad of sources both, public and private. We do not divulge many of those sources as this information is proprietary knowledge and sensitive. But let’s say we do discuss a few of those sources that are public. It is no big secret that we get some of our information from the Bureau of Labor and Statistics, US Postal Services, US Census and the FBI. And anyone can go to these places and get this same data that we do. We don’t encourage our clients to do this – clearly – but not for the reasons you may think. There should be a distinction made between this data and the content that we provide our clients. Read the rest of this entry »

Written by Patrick Healy

July 21, 2008 at 11:41 pm