Google Docs & Google Sites powers RealtyV2

http://www.youtube.com/watch?v=uKueHy485n0

When starting RealtyV2 I was committed to a paperless real estate brokerage.  I looked at all the major transaction management programs including Transaction Point, Relay, and Dotloop.  The problem with each of these programs was a very steep learning curve for both the user and the customer.  Secondly, there were written to be all things to all people, including the unfortunate ability to deal with dual agency.

Over several years RealtyV2 has experimented with various on-line transaction management systems.  We started with using Adobe Connect which didn’t really work out for our needs, then went to Box.net.  Box was a wonderful enterprise product but a huge overkill for a small company like us.

During the time we were using Box.net we noticed that Google Docs for business was getting better and better at providing the system we were looking for.  The collaborative features of Google Docs combined with Google Sites allowed us to customize and simplify a custom website for our Associates and Clients.  Secure, available 24 hours per day 7 days per week, and easy to use we are fully committed to Google Docs for all functions of RealtyV2.  Being a small brokerage, Google allows us to access enterprise level systems at a fraction of trying to do something on our own.

Compared to large legacy brokerages, many who require Associates to use Transaction Coordinators, our philosophy is the management of the transaction is critical in representing the Client correctly.  While RealtyV2 only hires Associates that are experienced and  ethical, my job as the Designated Broker is to be another set of eyes.  When I was in corporate real estate file review was all about volume and relying on staff to try and maintain a standard of care.  RealtyV2 is a company committed to each transaction and we take the time to carefully review each unique sale and make sure our Client gets the proper representation and appropriate disclosures.  Because there are so many moving parts, it is impossible for a program to have an advantage over an experienced agent and Broker.

We do not completely rely on Google Docs as unlikely as they would be to disappear tomorrow.  All of our transactions are stored in Adobe PDF format and are also backed up on a local hard drive and a third archive on Docu-Sign.  Finally, each of our transactions is backed up to a custom Adobe PDF Portfolio that is given to the Client at closing.

No one knows what the future holds in the transaction management field but we feel as custom solution is the best for our goals.  Having all the data in an industry standard format allows us to change in the future if someone invents a better wheel.

Zestimates get 4 Stars in San Diego.

According to Zillow, San Diego is one of the locations that is rated most accurate with 4 stars or best Zestimate.

There are 1.0 million homes on Zillow with 840.70K having Zestimates in San Diego.  Of the properties sold 44.1% were within 5% of the sales price, 70.01% within 10%, and 88.3% within 20% with a median error of 5.8%.  Check out other cities to see how they scored.

Zillow defines the Zestimate as:

The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. We encourage buyers, sellers, and homeowners to supplement Zillow’s information by doing other research such as:  Read More

As with all automated value models (AVM) I tell Clients it is a general guideline.  A Comparative Market Analysis from the real estate agent should be more accurate, and a full appraisal from a licensed Appraiser would be the most accurate in most cases.

Wikepdia defines an appraisal as:

Real estate appraisal, property valuation or land valuation is the process of valuing real property. The value usually sought is the property’s Market Value. Appraisals are needed because compared to, say, corporate stock, real estate transactions occur very infrequently. Not only that, but every property is different from the next, a factor that doesn’t affect assets like corporate stock. Furthermore, all properties differ from each other in their location – which is an important factor in their value. So a centralized Walrasian auction setting can’t exist for the trading of property assets, such as exists to trade corporate stock (i.e. a stock market/exchange). This product differentiation and lack of frequent trading, unlike stocks, means that specialist qualified appraisers are needed to advise on the value of a property. The appraiser usually provides a written report on this value to his or her client. These reports are used as the basis for mortgage loans, for settling estates and divorces, for tax matters, and so on. Sometimes the appraisal report is used by both parties to set the sale price of the property appraised.

Computers don’t take into account one home located with a fantastic view while the other backs up to a 6 lane freeway.  As REALTORS® we spend our lives previewing homes as they come on the market and develop a pretty good sense of things.  Combined with a Comparative Market Analysis using recent sales, we normally can do better than most AVM’s.

AVM’s can be found on REALTOR.com and Franchise Websites and are normally used to capture someone’s e-mail.

Hats off to Zillow for being so transparent – you have to respect that!

Photo courtesy of Chris Meller via Flickr

If you want to check out schools scores & parent opinions in the US, Great Schools is a good source.

In fact, I have used it on San Diego Lifestyle for some time.

Schools are very subjective and the best way to get a general feel for a particular school or district is by looking at parent ratings (opinions) and school scores (facts).  I have always advised clients this is a good place to start, but also go speak to the school in your district and contact the parent-teacher association.  It’s not appropriate or legal for real estate agents to weigh in on anything that is not factual.

If you would like more information there is an informative Q&A on “Agent Duties, what a real estate agent can and can’t do for you.”

Because of lawsuits, there are many other types of requests that smart real estate agents will not address. For example, where I work in California, there is no guarantee that homeowners who live within certain school districts will be able to enroll their children in that school. If a client asks me to find them a home in a particular school district, I will ask them to give me the boundaries for the search. I don’t supply the boundaries. I also explain that their children might not get accepted into the school of their choice. Guaranteeing a certain school district is not within the scope of my fiduciary duties to a client and could also be construed as a violation of Fair Housing.

With the GPS function in the iPhone you can locate any school nearby including elementary, middle, and high schools.  Once located you can view detailed reviews, ratings, and test scores.

Key features of the mobile version include Search the latest school information for more than 125,000 K-12 schools in the U.S., including public, public charter, and private schools.

• Search the latest school information for more than 125,000 K through 12 schools in the US, including public, public charter, and private schools.
• Map and compare schools for any city, based on your current location.
• Filter schools by public or private, grade level, or distance, GreatSchools Rating, Community Rating, or enrollment size.
• Browse parent reviews, recent test scores, and district information.
• Save schools to your personal list of favorites for quick retrieval later.
• Share school information with family and friends.

The other day I read a press release regarding a new social media site that I thought was pretty interesting.  It is called Home Elephant with the goal of connecting people in your community.

http://www.youtube.com/watch?v=V-MIYlzjuw8

The free program which is in Beta allows you to sign up for your specific community.  If you  are looking for a babysitter, or notice an unusual character wandering around, you can post the alert for everyone.

So what is it?

Home Elephant is the world’s first social media platform that allows for collaborative organization through Facebook, a web browser, and /or your smart phone.

Why did they build it?

After a recent string of crimes in our area, we needed a solution other than email for creating a better neighborhood watch. After experimenting with everything from a Facebook group to stand alone (and expensive) neighborhood site, we didn’t find anything that worked well, so we built one.

Why the name?

Because Elephants never forget.

How do the alerts work?

Everyone in your neighborhood can push an alert to Home Elephant through Facebook, their browser, or if they aren’t near a computer, from a smart phone. For example, if you were out jogging and saw a suspicious dude with a mullet parked in a conversion van signing Justin Bieber tunes, you could (and would need to!) create a new alert with your iPhone and publish it to all.

You and your Home Elephant Neighbors can view neighborhood information, upload and view important documents, and view your neighborhood directory. Neato, eh?

Who can see the information in “My Neighborhood”?

Like all other categories in Home Elephant, only your confirmed Home Elephant neighbors can view and contribute to this information.  No Nigerian scammers allowed.

What is the self-explanatory “Neighborhood Chat” section in Home Elephant?

Home Elephant was built so we could actually have real social interaction and meet our neighbors. Neighborhood Chat allows you and your neighbors to share news, post classifieds, vent about neighborhood issues (Does every neighborhood have a person who drive Mach 10 down the street?), and have general discussions.

It seems to me that idea has some interesting potential.  I signed up for my neighborhood which currently only has 5 other members.  Integration with Facebook and mobile alerts and chats could be very useful.  Right now I guess anyone could say they live anywhere, but as the site matures, I am sure they will have some way to confirm that members are in fact in the neighborhood.

You can join up on their website or also using your Facebook Login.

Be sure to let me know what you think – after all everyone needs yet another social network to monitor…

http://www.youtube.com/watch?v=zkZPMbvDsQg

One of the newest tools that I am using is Skype with multi-user conferencing  capabilities.  While the service works best with three or four users, it can do up to 9 users provided everyone is on a good internet connection.  What many people don’t realize is that Skype has partnered with Citrix and you can also share your screen over a Skype call.  While I still use Fuze Meeting, I have found that Skype does a really good job when we need to review a contract, disclosure, or preliminary title report.

Working with Clients from all over the world is easy with Skype and very cost effective.  A quick initial meeting with potential Clients can be done on Skype saving everyone the trouble of a commute and having to all be in the same place.

So now besides my “meet me at Starbucks” you can also set up a Skype video meeting.  Check it out and give me a call someday.

You can reach me at RealtyV2.

Yesterday we showed you how to log into your complementary Box.net account.  This next video will show you some of the basics of our transaction management system and some features of Box.net.

http://www.youtube.com/watch?v=v0gDNldY7co

Paperless transaction management you’ve been looking for.

http://www.youtube.com/watch?v=MHEYvPmej0k

Just finished up a video on RealtyV2′s paperless transaction management for Clients.  Using Box.net and customized transaction checklists we can share with our Clients documents anywhere in the World.  Box.net offers free software for mobile use including Android, iPhone, iPad, and more.

Our transactions are divided into 7 folders for paperless transaction management.

• 100 Transaction Information.
• 200 Agency Disclosures.
• 300 Contracts & Addendums.
• 400 Title & Escrow Documents.
• 500 Disclosures.
• 600 Reports.
• 700 Miscellaneous.

While we tried real estate specific software for transactions including Transaction Pointe and Relay, the combination of Box.net and customized checklists provides the best possible paperless experience for our Clients.  Box.net also offers on-line collaboration discussions, ability to view and print individual documents, download all files to local desktop, and fax directly from folders.  It also offers the ability to securely share documents with other collaborators and to easily handle large files which are difficult to e-mail.

http://www.youtube.com/watch?v=WJdk2avSUWQ

The paperless real estate transaction has long been a dream or goal for many real estate brokerages.  Few have been able to go paperless with the security of an enterprise cloud based system such as Box.net.  Visit most real estate offices and find mounds of paper and copiers.

For those that are not familiar with the real estate process there are hundreds of forms and disclosures that may come into play.  Here are a few typical documents that would be used in a real estate transaction.

• Agency Disclosure.
• Disc. & Consent Representation of More than 1 Buyer/Seller.
• Seller Non-Agency Agreement.
• Buyer Non Agency Agreement.
• Residential Purchase Agreement.
• Counter Offer (s).
• Wood Destroying Pest Inspection & Allocation.
• Purchase Agreement Addendum,
• Addendum.
• Escrow instructions.
• Preliminary Title Report.
• Receipt from escrow for deposit.
• Confirmation of FIRPTA.
• HOA and covenants, conditions, and restrictions (CC&R’s).
• Real Estate Transfer Disclosure Statement.
• Seller Property Questionnaire.
• Local Area Disclosure.
• Agent Visual Inspection Disclosure.
• Statewide Buyer and Seller Advisory.
• Natural Hazard Disclosure Statement.
• Environmental Hazard and Earthquake Booklet.
• Federal Lead Base Paint Disclosure.
• Water Heater & Smoke Detector Statement of Compliance.
• Supplemental Statutory & Contractual Disclosures.
• Property, pool, or roof reports.
• Termite report.
• Termite clearance.

These are some of the standard documents required to sell a residential home in California.  Depending on the age, type of transaction, and title there are many more that come into play.

One of the ways that we have been successful in paperless transaction management is electronic signatures.  RealtyV2 uses DocuSign which is an industry leader in electronic signatures – you can try out a free demo here.

If you would like to know more about Box.net or RealtyV2 please visit there websites.  While most real estate brokerages talk big, there are few that are paperless.

Parody of large corporate real estate companies and how to order copy paper.

http://www.youtube.com/watch?v=PTlYZ31qeZs

Big Announcement Today Regarding Google Base

When Google got into the real estate listing business a while back, there was speculation on how anyone would be able to compete with them.  After all if you search for a property address the first search result will be a Google Map.  This would trump Realtor.com, Trulia, Zillow, and Broker websites from the number one position.  Just look at the above picture on a search for a listing in La Jolla.

There was a lot of talk about Google taking over the real estate business.

Today they announced the following:

At Google one of our key philosophies is to take risks and to experiment. To that end, in July 2009 we announced the ability to find property for sale or rent directly on Google Maps. This is one of the “search options” next to the search box on Google Maps, and is currently available in the US, Australia, New Zealand, the UK and Japan.

In part due to low usage, the proliferation of excellent property-search tools on real estate websites, and the infrastructure challenge posed by the impending retirement of the Google Base API (used by listing providers to submit listings), we’ve decided to discontinue the real estate feature within Google Maps on February 10, 2011.

We’ve learned a lot and been excited to see real estate companies use Google Maps in innovative ways to help people find places to live, such as Coldwell Banker’s use of Google Maps and YouTube, or Realtor.com’s Android app that lets you draw a shape on a map to find all properties you’re interested in.

Yet we recognize that there might be better, more effective ways to help people find local real estate information than the current feature makes possible. We’ll continue to explore this area, but in the meantime, Google offers other options to home-seekers: you can still access other information in Maps such as local businesses, directions and transit times, as well as aerial and Street View imagery to explore where you might want to move, and also use Google search results to find helpful real estate information and websites.

Real estate companies can also continue to use tools from Google to help connect with buyers and renters who use the Internet to research properties. For example, companies can use the Google Maps API to embed customized maps that are useful to potential clients right on their own web pages. Our Google for real estate professionals site contains various methods for generating leads and improving real estate business operations.

Below is an example of an active listing in Google.

When I started this business some 20 years ago we relied on MLS books printed in  paper books every 2 weeks.  Most agents caravanned new listings each week and called potential clients when a property came on the market. Otherwise consumers would have to wait for a newspaper advertisment or a for sale sign to go up in the neighborhood.  The gatekeeper was the real estate agent.

Things are different.

Once an agent hits submit on a new listing it is sent out to hundreds of real estate sites.  In the old days where it would take 7 to 10 days to get some exposure, most consumers know about the listing before the agent does.  Serious buyers that have registered for alerts are made aware via smart phones and SMS messages.

If you are selling a property make sure that you preview and approve the content that your agent is putting into the MLS.  I think to do your home justice the photographs and virtual tours should be done by a professional.  Make sure that the agent loads the maximum amount of pictures allowed by the MLS.  An important question to ask is where the listings will be going and if the agent pays of highlight or feature the listing anywhere.

Every year I look for something to offer my clients beyond the ordinary.  With the internet being such an important tool my plan for 2010 beyond professional photographs and video is on-line floor plans.

Doesn’t your home deserve this added benefit?