Baron Briefs

…pretty good if you ask me. This morning, I searched for homes with asking prices between $250,000 and $500,000 in 13 metro areas and compared the size of RealtyBaron’s RealSearchâ„¢ results with two real estate search leaders, Trulia and Propsmart. The results surprised me:

Atlanta	1,462	1,496	2,693
Boston	242	498	1,240
Chicago	2,420	10,023	9,199
Dallas	744	332	1,950
Denver	411	1,358	1,186
Vegas	5,050	3,264	3,336
L.A.	369	2,686	4,023
Miami	1,950	8,770	10,375
Phoenix	2,128	6,802	4,063
Seattle	298	3,470	751
S.D.	1,038	3,238	5,519
S.F.	75	468	1,186
D.C.	603	720	2,374
**NOTE: 15% added to Trulia numbers to account for no FSBOs in results.

Was this a scientific comparison? No, because it doesn’t consider the quality of the listing data. For example, Trulia’s or Propsmart’s search algorithms may exclude listings from their index if the listing is missing data points A, B, and/or C. As a result, the total number of their results would be lower. Regardless, it was nice to visualize how RealtyBaron’s RealSearchâ„¢ sizes up against the incumbents.

…2.7 million at last count. But if the number changes, you’ll know immediately now that our search form shows the total size of Vast’s dataset.

Today, I’m proud to announce the public beta launch of RealtyBaron’s newest product, RealSearchâ„¢. My goal was to blend a basic yet fast vertical search with decision tools to help put a search result in context for buyers–all wrapped in a clean user interface. If you have feedback for me, drop in on the search discussion group and join other beta testers in adding new dimensions to the product. Enjoy!

Of all the moving parts in our system, AgentRankâ„¢ is the most difficult to communicate. Most people look past the role it plays in pairing homeowners with an agent. Frankly, I’m surprised how often homeowners choose the default value of 1 (out of 10). However, when I designed the system, it was the “eureka” moment. Without it, the system would be fertile ground for bottom-feeding, hungry agents who would inevitably disappoint homeowners.

I’m always trying to think of “real world” examples to use as comparisons. A few weeks ago, credit scores came to mind. Borrowers with better credit scores typically are seen as less risky and, as a result, receive a better interest rate. Today, however, I thought of an even better one while shopping for a printer with my Consumer Reports ratings in hand at Sam’s Club. AgentRankâ„¢ is nothing more than an objective rating assigned to a Realtor representing the quality of service a consumer can expect.

Just as consumers don’t have to test each and every printer when armed with Consumer Reports ratings, consumers don’t have to interview and haggle with each and every Realtor operating within 10 miles of their home. They simple pick a number–1 to 10–and let the bidding begin.

Speaking of AgentRank(TM), I added two more components earlier this week:

1. Market Forecasts
2. Weblogs

Market forecasts will be used to measure an agent’s knowledge of price trends. By comparing the agent’s forecast of median sale price against the metro prices reported by the National Association of REALTORS®, we’ll identify agents who have exceptional insight into the local market.

Weblogs will be used to measure an agent’s authority on matters of real estate. The popularity of an agent’s weblog in the blogosphere will help identify agents who are considered the experts in their local market and beyond.

Business 2.0 put real estate on the cover of their November edition which arrived in the mail this week. As with any real estate feature, I dove in immediately. The coverage is good because it doesn’t dwell on the bubble bursting. Rather, opportunity is the focus.

Within seconds, however, my eyes were drawn to a footer on page 85 titled “New Ways to Buy and Sell: The latest real estate websites go beyond just searching the listings”. Occupying one of only eight panels was none other than RealtyBaron.com:

It’s an awesome feeling to see a major business publication take notice of my creation. Thanks, Business 2.0.

I’ve been slowly evolving RealtyBaron’s lead trading platform since its launch in 2004. In that time, I’ve learned quite a bit from users (don’t we all). For example, I initially modeled lead auctions after eBay auctions–3, 5, 7, and 10 days in length. However, agents complained consumers didn’t respond to emails after a lead auction completed.

After some good ol’ fashioned research ‘n analysis, I concluded a lead becomes quite “cold” after 24 hours…a fact that’s prolly well known by other lead services on the Web. So, I made some changes recently to counter this effect:

1. Instead of giving a choice of 3, 5, 7, or 10 days, I now give no choice and impose a 24-hour time limit on all lead auctions.
2. I added the concept of a “stop bid” which can be used by consumers to immediately stop the auction if a certain bid amount is received from a Realtor®. Not only does this prevent bidding from reaching absurd lows, but it can significantly shorten a lead auction. I now see some lead auctions end within hours of starting.

The first wave of feedback is just now being received after making these changes:

Not bad, eh?

I launched our first integration with Zillow early this morning. Not bad considering the API has only been available for one week. (Am I the first? Surely someone from Zillow can confirm it in the comments if true.)

Like a good programmer should, I designed the integeration separate from the RealtyBaron.com website. As a result, anyone who is using Java as their web platform can use the same software code I used to integrate. The project’s home can be found at http://code.realtybaron.com/docs/zillow-api

The source is not yet available and the documentation was hurried. Drop me an email if you have questions, comments, or need help using the toolkit: marc@realtybaron.com

As of this morning, RealtyBaron.com is now using Zillow’s API to help homeowners estimate the value of their home when performing a Listing Auction. It’s the first in a serious of integration points we see possible between Zillow and RealtyBaron.

To see the API in action, enter your home address from our homepage and continue to the next page (FYI, we don’t capture any of your information until you reach the end of the wizard). If you entered an address Zillow has in its database, the next page should have a Zestimate pre-loaded in the form. Here’s an example:

Once again, kudos to Zillow for making it possible!

I received an invitation to join the Zillow API Network on Monday as an “Alpha” tester, but didn’t get a chance to begin work on anything until yesterday. Since then, I’ve assembled a small “toolkit” using nothing but the finest in Java open source to make integrating Zillow’s API easier. After getting past two roadblocks late this afternoon, I was able to successfully request my home’s property details and Zestimate via Zillow’s API. Woohoo! Anyone else working on integration with Zillow’s API?

First, let me say, surveillance is part of business. You must keep an eye on the competition. This includes visiting their website to read copy, searching news clippings for their name, etc. But when you start posing as a customer, it crosses the line and becomes reconnaissance. I don’t mind surveillance, but recon is an abuse of my time and money.

There’s one competitor in particular who has now performed recon on my system twice and was dumb enough to include their website name in the header…twice. I let it slide last summer, but it happened again this week so I’m calling them out. First offense was fishing for info on RealtyBaron’s ranking system last summer by posing as a real estate agent web merchant who is considering our service affiliate program:

Then, after RealtyBaron’s launch of Buyer Rebate Auctions last week, they again posed as a customer–this time a “home buyer” in Jacksonville:

“Hungry” indeed….hungry for inside scoop on RealtyBaron™. Down, boy…down.