We’re thrilled to announce our first Android app was both accepted and launched by Amazon’s Appstore yesterday. It’s already on the move after rising 3 spots overnight in the Real Estate category.
Visit Real Estate Answers on Amazon’s Appstore and download it for free.
The #1 selling mobile OS in the entire United States…
Over 300,000 new Android phone activations per day…
Over 18,300,000 new Android phone activations by spring…
How many will be buying and/or selling a home this year?
RealtyBaron made a strategic pivot in 2009 with the launch of not one, not two, but three web service APIs. That decision paid off for us in 2010 in the form of three new strategic partnerships. Our first partner implemented a pay-per-lead model using our Auction API to introduce consumers to agents. Our second partner — a licensed broker — is using the same Auction API to introduce consumers to agents based on a referral fee at closing. Our third partner is launching a real estate Q&A service using our Answers API.
Of those API uses, the success of the pay-per-lead model was most surprising in 2010. To be fair, it was the first and had time to undergo several iterations. In fact, it was a downright rocky start last January when it first went live. However, the pay-per-lead model had a strong finish. Here’s a sampling of what agents said after paying for leads from our first partner in the final quarter:
I expect an even better 2011 as we continue refine the process.
Happy new year!
We first opened our auction platform to other websites last year. Inman News picked up the story in July calling it a “widget”. However, it’s more than just a “widget”. It’s a full on, double rainbow web service that can be seamlessly weaved into a website to add any type of real estate agent finder/matching feature you can possibly dream up. Since the launch of the Auction API, we’ve added two partners and have begun discussions with another website whose monthly traffic is consistently above 500K unique visitors about integration early next year.
Our second Auction API partner, ExpertHomeOffers, went live with its integration yesterday. ExpertHomeOffers is using our Auction API to automate the matching of their buyers and sellers with RealtyBaron agents based on a referral fee paid at closing. But RealtyBaron’s platform doesn’t stop at just matching consumer and agent. RealtyBaron also tracks the progress of the referral on behalf of ExpertHomeOffers to ensure referrals are paid when a sale transaction is closed from the referral.
ExpertHomeOffers.com is a company that connects motivated home buyers and sellers with local real estate professionals nation wide. The company was formed in 2007 in an effort to bring quality and honesty to the real estate lead generation industry. Since its inception the company continues to consistently increase its placement on the major search engines and lead volume.
Welcome aboard, ExpertHomeOffers!
We are releasing a new WordPress plug-in soon which will allow WP bloggers to host a real estate Q&A in the sidebar of their blog. The questions are “crowdsourced” from participating web sites and pooled together to create a network of questions. The answers to the questions are provided by local real estate agents and moderated by RealtyBaron.
The plug-in offers three distinct value propositions for publishers:
We’re making a development copy of the plug-in available today to get some early feedback:
Download RealAnswers WP Plug-in 1.0
Update: Download from WordPress Plug-in Directory
Let us know what you think!
Earlier this morning, I approved a ListingHedge™ for 3605 HAMMERKOP DRIVE in NORTH LAS VEGAS, NV making it the world’s first risk-free listing ever. OK, not entirely true since a ListingHedge™ is purchased and settled with BaronBucks during the beta period, but still a monumental moment. Here’s the breakdown:
If home sells….
+ $5,423 Est. Commission Side
- $2,000 Expenses
- $458 Cost of Hedge
= $2,965 Net Earning
If listing expires…
+ $0 Est. Commission Side
- $2,000 Expenses
- $458 Cost of Hedge
+ $5,500 Hedge Payout
= $3,042 Net Earnings
Today is the public beta launch of RealtyBaron.com’s latest and greatest, a risk management product for real estate agents called ListingHedge™. As the name implies, a ListingHedge™ allows an agent to hedge a listing. Put simply, a ListingHedge™ is used to reduce the financial risk agents accept when spending time and money upfront in exchange for a commission after a home sells. Traditionally, agents do not recover expenditures from an unsold listing. With a ListingHedge™ in place, however, an agent is still paid for work that does not result in a sales commission. The illustration below compares the traditional risk model to this new hedged risk model:
During the beta period, a ListingHedge™ is purchased and settled with BaronBucks™. Any broker or agent with a RealtyBaron.com account is automatically credited with $5,000 BaronBucks™ that can be used to purchase a ListingHedge™ for each listing the broker or agent is marketing.
After the beta period ends and the service officially launches, a ListingHedge™ will be purchased and settled with real money. BaronBucks™ accumulated by agents during the beta period will be converted to equity shares in (pre-IPO?) RealtyBaron, Inc.
To get started, follow these steps:
Question, comments, or concerns? Add a reply below and I’ll respond.
Imagine your parents are retiring, moving to Florida, and have asked you for help with “meeting a nice Realtor®” in Naples. Unlike the client referral I sketched in scenario #1, this referral is very personal. A referral fee is your least concern. Your parents are aging and they need to be handled by the best. However, you don’t have contacts in or near Naples, Florida. Here’s how a ReferralAuction™ can help:
#1 – Like I said above, a referral fee is your least concern. Therefore, all three bids—opening, reserve, and stop—remain at 0%. Basically, the first agent who meets the minimum required AgentRank™ gets your parents’ business.
#2 – But submitting a bid in this scenario is easier said than done. The minimum AgentRank™ in this case is 10—the highest ranking available—which means unless an agent has an impeccable sales history and glowing client reviews, he or she will be unable to bid for your referral.
Any questions?
Imagine you have a client who is moving to Dallas. You have the listing in California but the client has not yet made a connection with a buyer’s agent. The client asks for a referral, but you don’t have any contacts in Dallas. You want to ensure your client is handled properly, but you also want to fully monetize a client referral that will almost certainly result in a sale for the buyer agent. A ReferralAuction™ can help you achieve both objectives. Here’s the play call:
#1 – The auction opens bidding at 0%, but the “Reserve Bid” ensures a bid of 20% is received before the client’s contact information is revealed to a buyer’s agent. If the auction ends with a bid less than 20%, your identity and that of your client remains hidden from any potential buyer’s agent.
#2 – Assuming the “Reserve Bid” is satisfied, the “Stop Bid” ensures bidding doesn’t exceed your idea of “fair value”. When bidding reaches the “Stop Bid” amount, the referral auction immediately closes and the referral is awarded to the highest bidder.
#3 – The “Minimum AgentRank™” guarantees bidding is available only to agents who have a proven history of closing sales and pleasing clients. In the scenario above, only agents with a ranking of 8 or above are allowed to bid for your client referral.
Any questions?
….as I outlined almost two years ago in our discussion group:
