April 2008 - Posts

Rapid Growth of Mexican MLS Contributes to Open Market

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Buyers, Sellers, and Brokers Benefit from Internet Technology

By Brian Flock: Mexidata.info guest columnist

The rapid growth in use of a new Internet technology over the past two years by Mexico real estate brokers has resulted in a de facto Mexican multiple listing service (MLS). The new system better serves buyers and sellers of real estate throughout coastal and other regions of interest to foreign buyers. This progress helps solve the key challenge of sharing and marketing listings between agents, a historical challenge in Mexico as it was in the early days of US real estate. Buyers and sellers would do well to make sure that their agent is part of this growing MLS in order to ensure that they are receiving the proper real estate service, particularly in regions of interest to foreign buyers.

A common misconception amongst real estate buyers and sellers is that there is such a thing as the “one and only” multiple listing service. This is erroneous because there are literally hundreds of multiple listing services in the US and Canada, and the term is morphing to become a descriptor of any quasi-public repository of real estate listings (except in Canada where the term is a registered trademark for real estate). Anyone may create a multiple listing service with the value of the system being a function of how widely and how responsibly the system is used. Each market determines the MLS system that best meets the need – with the occasional disruption such as the lawsuit by the US Department of Justice with the National Association of Realtors®.

Mexican real estate has a history of agents withholding listings from each other with the intent to get the commission from both the selling and buying sides of the transaction (i.e. “pocket listings”), similar to the situation in the US and Canada before the various regional MLSs were created. This made it difficult for a potential buyer to know if they were seeing the best properties or getting a fair deal, and for sellers to know if their agent would give proper exposure to their property. (The appearance of organized MLSs in the US in the early 1970s was a vast improvement over this inefficient system.)

The good news for consumers is that booming Mexico markets of interest to foreigners plus the ubiquity of the Internet have driven the demand for more open methods of sharing listings to the benefit of buyers and sellers. No longer does the market have to submit to anachronistic sales methods in the Internet age.

One particular multiple listing service has grown organically to gain a leading spot for Mexico’s real estate inventory: Point2 NLS by Point2 Technologies. Mexican agents from Tijuana to Rocky Point [Puerto Peñasco] to Puerto Vallarta to the Mayan Riviera have discovered that this commercial platform is an effective way of sharing and marketing nearly 7,000 Mexico property listings amongst over 1,000 fellow agents throughout Mexico. Quite simply, it is the largest database of Mexico real estate listings shared between agents in the world – and it is growing daily.

“Point2 is a vehicle to provide, in Mexico, the technology that a full-blown MLS provides,” commented Saul Klein, CEO of Point2 Technologies in an interview. “Organizations of real estate professionals can add value around the platform. The key function of sharing and marketing listings between agents is intrinsic to Point2. Individual agents control their business relationships in a way that best serves their clients.” Klein noted that Mexico real estate agents are Point2 Technologies’ third largest group of Point2 adopters in the 85 countries that the company services, preceded only by the USA and Canada.

Why should real estate buyers and sellers in Mexico care about an Internet technology?

The answer is that if their agent uses Point2, that client’s agent has access to the most prolific MLS throughout Mexican regions of interest to foreigners. Buyers and sellers would be wise to ensure that their agent is using Point2. Sellers will want to seek out listing agents that generously share the properties with other agents’ Web sites in order to maximize exposure of those listings. Buyers in turn will want to understand how their preferred agent filters listing results that appear on their agent’s website.

Until an improved sharing and marketing solution is offered nationally to Mexico, the Point2 system is leading the way towards addressing buyer and seller requirements for an MLS in the United Mexican States, one real estate listing and one real estate agent at a time.

Point2 Technologies Promotes Zach Scott to Chief Technology Officer

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Saskatoon, SK and Vancouver, BC, April 21, 2008 – Point2 Technologies Inc. (“Point2”) today announced the promotion of Zach Scott to Chief Technology Officer (CTO), effective April 11, 2008. As CTO, Scott will play a key leadership role, working closely with the Point2 management team to drive continued innovation and development of Point2’s technology strategy and vision. He continues to assume the lead of Point2’s technology development, across the company’s business divisions, as well as responsibility for aligning the company’s technology infrastructure to support strategic growth and expansion plans.

Scott brings to the new post 13 years of technology and software development experience, including 10 years as a senior level technical consultant. During his career, Scott built and led cutting-edge teams at a number of high profile organizations including CGI Group Inc. and, AudeSi, later acquired by Wind River Systems where Scott led development of the company’s world class web based managed network switching software today used in most Cisco and Nortel switches and routers.

Scott is also co-founder of two technology companies including Calgary-based Cambrian House, where he last was Chief Technology Officer and member of the company’s Board of Directors.

“We’re pleased to appoint Zach as CTO,” said Saul Klein, Chief Executive Officer, Point2 Technologies. “In the short time that Zach has been with Point2, he has demonstrated exceptional leadership abilities. He has also introduced progressive technology development processes that have delivered solid productivity gains and that will enable Point2 to further accelerate time to market with advanced solutions to serve our customers.”

“Zach has a track record building outstanding teams and technology. His entrepreneurial vision and unwavering focus on customer needs are characteristics we value highly at Point2,” said Barry Willick, President, Point2 Technologies. “We are thrilled to welcome Zach to our leadership team.”

“Point2 is the leader in the markets that it serves, and is poised to capitalize on its unique Internet technologies to extend this position and pursue new markets in the future,” said Zach Scott, Chief Technology Officer, Point2 Technologies. “I am excited to be part of this exceptional team that has consistently set industry benchmarks and is focused on building advanced technology that customers can easily apply to help them compete more effectively and dominate their fields.”

Scott will report to Point2 President, Barry Willick and will work as part of the executive team at Point2’s headquarters in Saskatoon, SK. He joined Point2 in June 2007 and most recently held the position of Director of Systems Development.

About Point2 Technologies Inc.

Point2 Technologies develops and markets web-based software solutions for the real estate and heavy equipment industries. In real estate, Point2 is the largest independent provider of website and listing syndication software for real estate professionals, with over 183,000 brokers and agents subscribing to the Point2 platform, in over 100 countries. Point2’s user base continues to grow by more than 1000 additional members each week. Point2 also owns and operates the real estate consumer search portal, Point2 Homes (www.Point2Homes.com).

In the heavy equipment industry, Point2 is one of the largest providers of e-commerce solutions, powers Caterpillar Inc.’s global heavy equipment dealer network and owns and operates www.UsedIron.com, one of the largest used equipment venues online.

Founded in 1996, Point2 Technologies is privately held and employs a staff of 100 at its headquarters in Saskatoon, SK and its Vancouver, BC offices. More information can be obtained at www.Point2.com.

Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

Media contact:

Roger Noujeim
Vice President of Public Relations
Point2 Technologies Inc.
Toll Free: 1-888-955-7900 (U.S. and Canada)
Tel. 1-604-675-9393 Ext. 224
rnoujeim@point2.com

Syndication Standard - NAR and Industry Partners Agree

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RISMEDIA, April 15, 2008

The National Association of Realtors® and other industry members of the Real Estate Standards Organization have unanimously approved a draft standardized data format for distributing real estate listing information.

Real Estate Transaction Standard, an industry effort initiated by NAR and maintained by RESO, simplifies the process of sending real estate information by allowing brokers and MLSs to send their listing data to multiple real estate advertising websites without dealing with different data formats.

The standard was drafted and unanimously approved by a RESO working group composed of NAR’s Center for REALTOR® Technology and many of the real estate industry’s leading publishers and consumers of real estate listing data. They include MLS Assistant, MLS Listings Inc., MLSPIN, New Jersey MLS, TREND MLS, Move Inc. (operator of Realtor.com®), Bridge Interactive, Bainbridge, Cevado Technologies, CLRsearch, eNeighborhoods, eShowings, FBS Data Systems, Google, Homescape, Marketlinx, Oodle, Point2, PropBot, Prudential Preferred CRE, RealEstate.com, Realtracs, ThreeWide, Trulia, Vast, Yahoo! and Zillow.

The partnership of MLSs, vendors and real estate brokers came together to develop the standardized data format because they understand the business and technology needs of Realtors today and their desire to get property information to home buyers faster and more efficiently.

“Realtors are industry innovators and understand that more consumers than ever are seeking real estate information online,” said Mark Lesswing, NAR chief technology officer and senior vice president. “By collaborating with our RESO partners to standardize the data formats, we are making it easier for Realtors to feed their clients’ property listings to multiple real estate sites in one format, saving them time and money.”

The draft standard will be implemented immediately by several of the partner organizations. Following their feedback, a final draft will be presented and voted on during a meeting of the partners in August.

NAR’s CRT was established to provide technology leadership, guidance and assistance for its members. CRT makes available informed industry insight, research and open-source applications through its mission of implementation, advocacy and information.

Agent Increases Income $200K Harnessing the Internet

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REALTOR Fine Tunes Web Marketing Strategy with Dramatic Results
    
by: Mike Parker

Priscilla Allen is a RE/MAX broker in San Antonio, TX. In 2006, she and her husband, along with a long time associate, were the 25th ranked team in San Antonio; in 2007, they were the 10th. RE/MAX singled this little team out as the # 2 commissioned team in San Antonio in (www.allenrealtygroup.com). (If by some chance you haven’t noticed, 2007 was a year when many good agents and brokers suffered huge losses in business and income. How did she manage to increase both when other good people were hurting?)

Priscilla has long been Internet-oriented: she sold eight clients from the Internet in 1998(!), and she has been emphasizing online marketing ever since. If it is Internet oriented, chances are Priscilla has tried it. She embraced virtual tours and sold one of the first homes sold from one. She has had her own web site since1999 and she has been a REALTOR® since1974 but didn’t really start working full time as one until 1996, after having run her Dad’s business in the health area for years.

When we called her to pick her brain about Internet marketing, Priscilla was quick to offer details on how she has succeeded as an Internet REALTOR® and was eager to help others succeed in this hugely promising area of real estate.

“I do not do newspaper ads. I do not do open houses,” she began our conversation. “Referrals and the Internet provide almost all of my buyers.”  In the 29th largest market in the nation, that is an amazing statistic.  Who would think that a successful agent or broker could make it in such a place without newspaper advertising? “Our group sold $16,000,000 worth of property in 2006, “Priscilla told me, “and we sold $26,000,000 in property in 2007 —a  bad year by most anyone’s measure. It is the Internet that has enabled us to do this, and it is our CompassSearch subscription that has brought us much of that $10 million increase!”

“We regularly field inquiries from service people stationed in Iraq,” she explained. “As their tour ends, or if they are to receive major medical attention, many of them are routed to San Antonio. Before they get here, they have shopped online and dreamed online of coming home. With the military facilities in and around Bexar (pronounced “Bear”) County, we are fortunate to do business with many service people. I have an appointment next week with the Head of Pediatrics for the U.S. Naval Hospital in Naples, Italy, who is transferring to University Hospital here starting July. She and her husband called me on February 2 and we talked. They were concerned about the best schools for their children, but they could not afford the $8,000 to fly the four of them home to look around for a home. My local knowledge enabled me to set her fears at rest and to help her select a comfortable and safe neighborhood near the place she will be working, all online. The Doctor is flying here to meet with me and to buy a $300-400,000 home mid-April. We’ll be looking at the field of available properties we narrowed down to three and she will choose one of those. I have them pre-qualified and I am looking forward to meeting her after all this e-mailing and excitement!”

Priscilla Allen’s 8 Relocation Questions

“One of the things I do to make people I meet online comfortable with me is to ask them a list of questions about their needs. I’ve done this so often that I know people are very comfortable sharing this information and I believe it helps bond them with me as their real estate professional. I explain some of the questions in advance, like why I ask about children, for example. I also explain to them (should they send me a house they found online) if I think they should not buy that house, and why.” Here are Priscilla’s questions:

   1. Approximate time of relocation
   2. One or two story preferred?
   3. One or two living and dining areas?
   4. Age preference in the home?
   5. Job location?
   6. School age children?
   7. Square footage preference?
   8. Price range?

I noticed that price came last, and asked why. “People aren’t offended if you spend time with them and seek to answer their questions, then try to narrow down their price range, but I have found that opening with that line can offend people and send the wrong message that I am only interested in a sale. You see, I am really interested in my client, and I feel every one of them is a part of my extended family.” From delivering some personal items to a spouse, or helping a friend get home from the airport, Priscilla makes it her business to make her business with her clients more personal. “I don’t want to sell them a home that I wouldn’t want back to sell again,” she explained. If I wouldn’t be proud to list the home, I surely don’t want one of my clients buying it! If you haven’t been able to tell yet, I am very motherly. I treat these kids as my own and anyone under 50 is a kid to me!”

How Priscilla Succeeds Online

“In recent months, most of my leads come from my web site. We added two new associates at the end of 2007 to help handle the leads (We’re up to five selling agents and one administrator, now!). We are closing about 90% of these leads (defined as where the prospect contacts Priscilla through her web site). We also use the WebReporterTool to show listing prospects our Internet savvy and success; they are extremely impressed when I show them how much we sell through the Internet, and what people online do to find their listing on my site. When I show them the data, often they are just floored by what a difference a strong web presence makes. I also spent the money to have a professional virtual assistant work with my site and make it more consumer friendly (Kathleen Allardyce www.buildrealestateresults.com) . With Kathleen handling the consumer-friendly part, and CompassSearch handling the REAL SEO-friendly part, I feel confident that my success will continue.  My CompassSearch subscription put another $200,000 in my personal take home pay last year; not a bad return on $240 dollars a month cost! It’s pretty black and white as to where that increase came from!”

What about RE/MAX Web Site?

“It is not very effective. I get 4 to 6 “leads” (that’s what they call them, anyway) every day. I do not have ONE sale from a RE/MAX lead. Most “leads” from the RE/MAX site are just some poor soul who wanted to browse that site for homes in private and suddenly they are stuck with a REALTOR® calling them. I don’t call that a lead.”

Advice to Agents Wanting to Succeed Online

“Join Point2 agent, call Kathleen to help them do their web site, and hook up with CompassSearch. That’s all it took me and I cannot tell you how happy I am with the results. I like learning something new every day, talking to people from all over the world, giving house tours online, understanding what makes my site work and being number one on the major search engines when people come looking in San Antonio. I have the confidence that we will do even better this year and so far, we already have! I can tell you that no kind of lead is as good as the ones I get from my own web site except a personal referral. I strongly advise everyone to cut back on newspapers, spend a part of that money on your web site, and be free from the doom and gloom that pervades the media about housing today. People are still buying and selling homes. It’s just that they are doing it online, now. You need to be found online by Internet buyers!”

Thanks to Priscilla Allen for being so forthcoming. If you have a client relocating to San Antonio, you will find Priscilla a pleasure to work with and a real asset for your client.

(Mike Parker is a principal at the Blackwater Consulting Group, Inc., and specializes in online marketing for real estate professionals. You can reach him by e-mail at mparker@theblackwatercg.com. To ask for a free copy of his booklet "SEO Secrets for Real Estate Professionals" by writing to realestate@theblackwatercg.com. It will be sent to you free and no one will call you. To request a free review of your web site to determine if it can be found by Internet buyers and if it is search engine friendly, click here and it will be evaluated free.)

Facebook seminar offered by firm

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by: Mallory Vough, Wilkes-Barre Times Leader

Establishment business people – at least those above the age of 30 – might think Facebook is a publication filled with photographs of people showing off their finest toothy grins. But in fact Facebook is one of the most popular Web sites on the Internet, with a claimed 70 million active users who range from teenagers to corporate executives.

That adds up to a compelling audience, but one that can be difficult to reach. A seminar scheduled for later this month may help individuals and businesses cut through the confusion.

Scranton-based software development company Meezik will host the Facebook Developer Garage on April 26, NEPA at Pepperjam, in the Innovation Center @ Wilkes-Barre.

The four-hour session will introduce software developers and businesses to the new Facebook Developer Platform, said Daehee Park, marketing and sales manager at Meezik. “It’s for developers, marketers and entrepreneurs. We want to show them how to create applications for Facebook so they can develop and monetize those applications.”

The Facebook Developer Platform was launched late last year, and similar events are being held across the United States and the world so that individuals and companies can share ideas with local developers, look for partners on projects, get technical support or simply network and socialize with other developers interested in the Facebook platform.With a total of 21,024 applications on Facebook and the number increasing every day, Park said he feels companies can link people together through these applications in unique and fun ways.

“It’s another channel for marketing their product. The possibilities are limitless,” Park said.

A few applications include “Movies” by Flixster, which allows people to share reviews, discover new movies and test knowledge with the Never-Ending Movie Quiz; “iLike” by iLike, Inc., which lets users add music to their profiles and find their favorite concerts; Neighborhoods by Point2 Technologies, Inc., which shows Facebook users who live near them, what these people are up to and what is happening in their neighborhood; and PortfolioJoe by Interactive Design Associates LLC, which makes it possible to send out professional company or personal portfolios to potential clients or employers.

The intended audience for the seminar is local students, according to Park. “Our main target is students at local colleges who are majoring in information technology, marketing, business or computer science,” he said.

“We also want this to be a networking type thing. If you’re not particularly strong at programming, you can meet someone with strong skills in programming and hopefully work together.”

Presented by Facebook, Pepperjam, AppleCart, SpinDVD and Bawls, the event will feature local and national speakers including Kris Jones, CEO of Pepperjam; Ron Frisbie, co-founder of Ringside Networks; Jason Gaylord, president of .NET Valley; Caitlin O’Farrell, Platform Product Marketing for Facebook; Jay Signorello, software engineer, Heavy.com, and Jason Hoffman, CTO and founder, Joyent.

Possible discussion topics include anatomy of a Facebook application, FBML and FQL overviews and viral marketing optimization.

The event is free, but interested attendees must reserve at http://rsvp.meezik.com.
IF YOU GO
inside

What: Facebook Developer Garage NEPA

When: Saturday, April 26, 1-4 p.m.

Where: Pepperjam, 7 S. Main St., Wilkes-Barre

Cost: Free

Reserve: at http://rsvp.meezik.com

Info: Daehee Park at (646) 867-0847 or at daehee@meezik.com

Clicking With Buyers

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By Renae Merle
Washington Post Staff Writer
Saturday, April 12, 2008; Page F01

Cindy Lawson won't venture from her sofa for anything less than a two-bedroom condominium with a parking space and washer and dryer.

In the meantime, she continues her year-long search by scanning the list of Arlington homes in her price range that is sent to her automatically from her agent's Web site. When she sees something interesting, her agent, Brian Block, sends her the full listing. Rarely do they speak on the phone.

"It's nice to be able to stay here and do that," said Lawson, 56, a legal secretary. "Especially something like buying a house that can be really tedious."

Online real estate search engines have become an established part of the home-buying process over the past decade, but such sites are evolving to offer a wider variety of services, in some cases changing the relationships among buyers, sellers and real estate agents.

For example, Trulia allows users to check out a home's surroundings through a street-level view of its 2.5 million real estate listings and discover unadvertised neighbors -- a park or a cemetery, for example. On BestHomeSearchEver.com, buyers can limit their searches to homes that have been on the market for more than three months and may be vulnerable to price reduction; then they can watch a YouTube video about how to submit a lowball offer.

This part of the online real estate market is still in its early stages but is likely to evolve as a younger generation of buyers and sellers look for ways to trade more information about property, said Saul Klein, a consultant to the National Association of Realtors when it developed its Web site, Realtor.com, in the mid-1990s. "In time, it may become commonplace," he said.

On another site, FranklyMLS, real estate agents are encouraged to leave comments about homes they have taken their clients to visit. On the listing for one four-bedroom house in Woodbridge, an agent said: "Nice place. Water issue in bathrooms????" On a three-bedroom Alexandria home, another agent wrote: "Where's the fridge? Maybe the cockroaches carried it away."

Even negative information about a home can help the sales process if it assures that the buyer knows all of the potential pitfalls in a property, said Frank Borges Llosa, who runs FranklyMLS. "The more information someone has, the more likely they are to make a purchase," said Llosa, who doesn't vouch for the accuracy of comments on the site. "Learning negatives about the house removes the uncertainty factor, which is more of a hindrance than having the information."

Unlike some of its larger competitors, FranklyMLS is a sparse site that relies on keyword searches. It also lacks some of the ease of larger sites that allow users to narrow their search by a number of bedrooms, for example, but it allows real estate agents who have visited a property to add photos to those provided by the seller's agent.

"I don't trust listing agents' photos. They represent only the best side and make it look amazing. It is not necessarily what they look like when you get there," Llosa said.

Real estate agents have fought to control how the listings of their clients' homes are used on the Internet, including in an ongoing lawsuit brought by the Department of Justice. But the National Association of Realtors said that sellers' and agents' growing acceptance of the Internet may have made the point moot. "The policy that we were fighting was adopted five years ago. Things have changed," said Laurie Janik, the trade group's chief counsel.

The group's Web site, http://www.Realtor.com, is still the most-visited real estate page on the Web, according to the market research firm Hitwise. But even it is changing: Recently the site added a feature allowing users to narrow their searches by a neighborhood's "hip factor," based on several criteria, including how close it is to four-year universities, the age of residents and how long people tend to live there.

But the Realtors' site is facing ever-increasing competition from smaller sites, such as Roost, which says it has come up with a more intuitive and faster search engine. Since launching earlier this year, Roost.com has added information about listings from more than a dozen markets, including the Washington area, but still doesn't cover the entire nation. HomesDatabase, which is run by Metropolitan Regional Information Systems, focuses on real estate listings in the Washington area. Other Web sites, such as Owners.com and ForSaleByOwner.com, target homes being sold directly by their owners.

Jim Duncan, an agent for Century 21 Manley in Charlottesville, said he resents that some real estate search engines make agents buy information about users who have expressed an interest in a home they are selling. "They're not adding any value to the transaction," he said. "As a Realtor, they charge me a fee to get that buyer back when they haven't done anything. I have an issue with that."

But even as agents seek to control how their listings are used, the information available online has changed the way buyers, sellers and their agents interact.

After placing a home on the market, sellers can grow anxious wondering how home shoppers perceive their place. Another new real estate Web site, HomeFeedback.com, offers to send e-mails to agents who have visited the property, soliciting their opinions.

Tony Hain, a real estate agent who has been using that service for about a year, said that after reviewing the comments, one client decided that his basement unit was overpriced. "You can't change the fact that it is in the basement, but you can adjust the price," said Hain, who works out of Long & Foster's Woodley Park office in the District.

Block, Lawson's agent and an associate broker with Re/Max Allegiance in Alexandria, said he attracts up to 80 percent of his clients through his Web site, which includes a searchable database of Washington area real estate listings. Some clients do much of the work of narrowing down potential homes themselves and then call him when they want to tour a particular property or want to submit a bid on a home, Block said. "These days, our job as a Realtor is to help negotiate the deal, instead of just finding the house for them," he said.

Sharon Kimball and her husband, Bob, interviewed several real estate agents referred by friends after moving to Washington from New Mexico six months ago. While researching an Arlington condo they had visited, the Kimballs came across a blog by Jay Seville, an agent in Re/Max Allegiance's Arlington office, predicting that prices in the area would be dragged down by the opening of another condo building this year.

That insight persuaded them to sign up for Seville's e-mail service, JustNewListings.com, which automatically alerts them when two-bedroom, two-bathroom homes in their area come on the market. They say they have spent 10 hours a week on their online searches, looking at listings, mapping their distance to the Metro, and researching builders and management companies.

"I have looked at hundreds of properties and pictures," said Sharon Kimball, 54, a federal prosecutor. "You can do it all in the middle of the night when you can't sleep."

They are now in the final stages of negotiating the purchase of a two-bedroom condo in Alexandria that they found through Seville's service and hope to move in within the next couple of months.

"It saved us weeks, no doubt, of work in terms of being able to look at pictures and get descriptions and map locations, just sitting right there in your own den," Kimball said. "It helps you narrow the search and weed out the places that you're not interested in."

Parker Pacific Equipment Streamlines Inventory Management and Trade-In Equipment Assessment with Point2 Technologies Solution

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Saskatoon, SK and Vancouver, BC, April 09, 2008 - Point2 Technologies Inc. (“Point2”) today announced that Parker Pacific Equipment Sales, a division of The Inland Group and one of Western Canada’s leading heavy equipment dealers has implemented the Point2 Manager software platform to streamline inventory management, data entry and trade-in equipment assessment processes. The advanced sales, marketing and inventory management system has been rolled out across Parker Pacific’s 14 locations in British Columbia and the Yukon.

Addressing a significant business need and opportunity typical in the industry, standardizing trade-in equipment assessment and data capture now enables Parker Pacific to more comprehensively and accurately evaluate used equipment arriving at its yards, benefiting both seller and buyer while optimizing profits for the dealership.

Leveraging Point2 Manager to capture and mine equipment data now also provides Parker Pacific with a benchmarking base that can be used to accelerate the assessment and valuation process of incoming equipment, going forward, to help drive additional productivity gains for the organization.

“We went from ad hoc trade-in assessments, inconsistent paper-based feature and condition lists, and a time consuming process, to a streamlined, highly efficient and cost effective approach in less than three months,” said Tracey Russell, Used Equipment Manager, Parker Pacific Equipment.

“We’re pleased to work with yet another progressive organization such as Parker Pacific and to see the benefits of Point2 Manager take hold in such a short time. The key enabler was Parker Pacific’s aggressive vision, but importantly, the leadership team’s commitment to a full roll out and adoption across the organization,” said Mark Fuller, Senior Sales Executive, Point2 Technologies, Heavy Equipment Division.

Added Russell, “We’ve also eliminated duplicate data entry for our entire inventory of used, new and rental equipment between our corporate systems and website, which used to be pretty taxing. It led to inconsistencies and, we feel, lost profits. With Point2 Manager in place we’re now saving significant time and effort, and equipment information is more accurate and up to date across the board, with little effort. We look forward to putting to work additional Point2 Manager capabilities in the near future.”

Parker Pacific is now in a position to capitalize on additional Point2 Manager built-in system functionality such as Manager Mobile, which delivers detailed equipment information to Blackberry, PDA and other Smart Phone devices, giving sales teams instant access to critical information be it at the office, in the yard or on the road.

Marketing features such as quotes, brochures and inventory reports automate and simplify quotations and professional looking marketing collateral for added efficiency and impact with prospective customers.

More information about Point2 Manager can be obtained at www.Point2Manager.com

About Point2 Technologies Inc.

Point2 Technologies develops and markets web-based software solutions for the heavy equipment and real estate industries. In the heavy equipment industry, Point2 is one of the largest providers of e-commerce solutions, powers Caterpillar Inc.’s global heavy equipment dealer network and owns and operates UsedIron.com, one of the world’s largest public used equipment marketplaces online.

In real estate, Point2 is the largest independent provider of website and listing syndication software for real estate professionals, with over 180,000 brokers and agents subscribing to the Point2 platform, in 85 countries. Point2’s real estate user base continues to grow by over 1000 additional members each week. Point2 also owns and operates the real estate consumer search portal, Point2 Homes.

Founded in 1996, Point2 Technologies is privately held and employs a staff of 100 at its headquarters in Saskatoon, SK and its Vancouver, BC offices. More information can be obtained at www.Point2.com.
 

Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.


Media contact:

Roger Noujeim
Vice President of Public Relations
Point2 Technologies Inc.
Toll Free: 1-888-955-7900 (U.S. and Canada)
Tel. 1-604-675-9393 Ext. 224
rnoujeim@point2.com

The Successful Combination of Photography and Real Estate

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Commentary by Gar Benedick

RISMEDIA, - Pictures that are poor or less-than-flattering can turn buyers off, leading to fewer leads and offers. In real estate, good pictures–the right pictures–are worth more than a thousand words-they can be worth thousands of dollars.

According to a survey of buyers and sellers by the National Association of Realtors, 80% of the people across the country who purchased a new home last year used the Internet while researching their purchase. These buyers rated photographs as the single most useful tool in their search. Agents say the photos buyers see online are often the first, and sometimes the only, chance they may get to make a good impression.

The photograph is almost always the first element in any ad that connects with the buyer. It is the handshake, the first impression, the thing that cuts through the visual clutter to capture the buyer’s attention. Everything in the marketing campaign to sell your home relies on the quantity and quality of the photographs of your home. Photographs are needed for the MLS listing on the Web and in print, a website, brochures, flyers, photoboards, newspaper ads, possible magazine articles, real estate preview guides, blogs, etc. Many times, buyers will decide if they will visit a home, and agents will decide if they will show a property based on the strength (or weaknesses) of the photos accompanying a listing. Quality photos can and do make a difference, a big difference.

The California Association of Realtors findings show that “Multiple photographs/Slideshows” continue to be the online feature with the highest rating among all online features, followed by “Map/Directions.” Because of the nature of the Internet, more photos can be posted with your MLS Web listing and on a home website than in any other medium and for a fraction of the cost.

Point2 (point2.com) conducted a study monitoring listings over a 30-day period which clearly showed that properties which feature just one photo generated approximately five views and 1.37 leads, while listings displaying 21 or more images received over 77 views and close to 11 leads. Clearly, the listings that added 20+ photos generated nearly 10 times the number of leads and over 15 times the number of views.

Another study relating to the number of photos a listing posts compares photos to the number of Days on Market (DOM). The findings show that listings with more photos sold faster. This is the shake down on the photos to Days on Market (average) analysis.

- 1 photo = 70 DOM
- 6 photos = 40 DOM
- 16-19 photos = 36 DOM
- 20 photos max - 32 DOM

And listings with fewer photos sold for less. The Closed NET Price as a percentage of the Original Price also showed a direct correlation. (These findings are based on 2006 numbers and are again estimates.)

- 1 Photo = 91.2% of Original Price
- 6 or more = 95% of Original Price

According to these findings, a $600,000 home, sporting only one photo, could sell for as much as 3.8% LESS or a loss of over $22,000, just because there was only one photo accompanying the listing. More amazing is the fact that only 12% of agents posted the maximum 20 photos.

I received this in a recent e-mail from the Wav Group regarding the use of photos in listings. “As I am sure you know, the more photos, the better. Many MLSs are not allowing listings to be posted to the MLS without photos. In Houston Association of Realtors, you cannot add a listing without eight photos.” Other Associations will not allow a listing without at least one photo and more Associations are moving in the direction of mandatory photos.

Keep in mind that none of these reports/findings mention the quality of the photographs. If photos are the most important factor, it would follow that by having great, high quality photographs, you can be even further ahead of the game. In many cases, it is the agents themselves who are snapping the pictures and posting them on the agency website. Because of this, it is important that sellers choose an agent who will take professional looking photos or pay for a professional photographer.

Good quality real estate photographs are difficult to achieve and it should be clear that a real estate agent can’t be expected to have professional photographic skills. Agents should, however be able to recognize the difference between good and poor photos and refrain from posting poor photos where perspective buyers will see them. With that in mind, it is amazing to find all the substandard photos, which agents and sellers seem to be willing to accept when it comes to posting photos of your property to the MLS listings and into some of the advertising.

“Location, location, location” is the common catch phrase when buying a house. “Photography, photography, photography” will soon be the new advise when selling. When you look at the difference between photos taken by a professional and ones taken by brokers/agents with digital cameras, it’s not hard to see that you get what you pay for. Professional photographers use professional equipment, have the skills set to use it and they have a trained eye for making your home look its best. This is their job, they’re professionals. And paying to have professional real estate photographs, in comparison, is not really expensive when you consider the benefits.

It stands to reason then, that it is very important to have photos that are professionally presented. Some agents use only pictures taken by professional photographers, because, as one agent put it, “if the photos look shoddy or unprofessional, not only are buyers going to find your property unappealing, they’re going to associate you with being shoddy and unprofessional.”

If you’re thinking of selling your home, here are a few of things to keep in mind when it comes to photography:

- Ask prospective agents to show you samples of their photographic work or that of their professional photographer
- Request to review the photos before they are posted to the MLS, the Internet, etc.
- And, insist on the maximum number of photos or at least the maximum number of photos to properly represent your home

What does all this mean? The Internet is the most powerful tool you can use when buying and/or selling your home. According to results, photography does sell real estate. And when you choose to have high quality professional images for your marketing tools, you stand to gain by:

- Generating more interest
- Attracting more viewers/leads
- Entertaining higher offers/selling price
- Enjoying a faster sale of your home

This all translates into less stress and a smoother transition to your new home.

Your home is one of your largest and most important investments. You hire a professional real estate agent to sell your home. Are you willing to let the job of photographing your home to anyone other then a professional?

Gar Benedick is the principal of Studio Beach photography.