Condo Blog - A Non-Corporate Blog From CondoDomain HQ

So first of all, last weekend, I was forced (tech peer-presure) to sign up for Twitter, yet another social-media, web 2.0 so called “Must Have”.  So its offical, “you can follow me on Twitter” - code name:  CondoDomain, of course!

Well, now I can say Twitter actually works.  Tonight I found out that the breaking “rumor” which I know has been in the works for a while looks like is finally a “GO” - says Social/PR Guru  Cynthia Pang from Redfin Corp.  I noticed on my Twitter tonight while I was signing off that Redfin has gotten notice that MLS is now allowing individuals to view property addresses and mapping coordinates without being forced to login.

Previous to this rule we were allowed to show much of the MLS property data, but were forced to keep street address and mapping behind a firewall / registration on any of our Boston MLS search pages..    Unlike other State - like in our Dallas Condo marketplace, we have not been able to show this much wanted data.

So as of tomorrow, we will be working on lifting our “mandatory registration” to access street address & mapping!  This is a great move by MLS PIN who has been a great innovative Multiple Listing Service to work with!

We will make another shout-out as soon as we upgraded our system!

SEARCH FOR BOSTON CONDOS

I added a new page called Real Estate Rebate yesterday to the CondoDomain website.  The page outlines how commission rebates and refunds work, etc.  The page is kind of cluttered and “wordy” … I would love some feedback on this page so please shoot me a note if you have an opinion on how I can make this more clear to consumers surfing our site!

Here is a quick sound bite:

A real estate rebate (or commission refund) is exactly that - a portion of the real estate commission that is paid to the licensed real estate brokers, rebated back to you, the buyer or seller.

The only people allowed to be compensated in a real estate transaction are the two licensed real estate “brokers” AND (in most states *) the buyer and or the seller in the transaction can participate in the commission.

Here at CondoDomain.com, we are a full-service licensed real estate brokerage that believes in a flat-fee, transparent business model. We work with each and every one of our clients for the exact same flat fee commission and we rebate you the remainder.

Visit the page

Actually, we would love any feedback on any of our content pages on the company, including:  Compare Us, How It Works, Our Guarantee, Buyer’s Broker, About Us & Careers.

Remember, we opened the Dallas marketplace so if your searching for Dallas Condos and would like to buy and recieve a real estate rebate - were now open

So we have just about shaken out all of the bugs in our newest addition to CondoDomain.com.  Searching for Dallas Condos should NOW be the ‘easiest thing going‘.

Ill tell you this was no easy task.  Even with two extremely talented and well tech-versed brokers on the ground helping us launch the Dallas Condo marketplace, it was a 4 week challenge to really get the site up and running properly.

Challenges:

Simple technology & scaleabity bugs

New data set’s from NTREIS (The North Texas MLS system)

New sets of state-wide and local MLS compliance information

Online marketing schema

Bottom line is that we knew things would be different than launching in the Boston marketplace, but I think we underestimated how different.  The simple things were the “known” differences that we expected in this web-based venture.  We knew there would be a different set of compliance guidlines.  We knew that obtaining a feed as a non-local vendor would be difficult.  But, challenges in long-tail google search results threw us.  Remember, those Texans speak with a different twang and therefor perform different google querey searches.

Sometimes a small change can have a chain effect on specific functions.  Finding a place to stop the bleeding function is very difficult, especially, not allowing it to cross the sub-domain.  More detail and whinning to come….but for now, we are off to get the Atlanta condo market open.

We just brought on our Atlanta broker - Ursula Henry - and we are ecstatic to kick off the Southeast!

Stay tuned.

This is an article from 1999 regarding an Exclusive Buyers Agent that was selling his service as a much better service than traditional real estate agents could offer…for a good number of reasons.  The bottom line is that the big bad Real Estate commission didnt like it and they had the support from the NAR…so they fined Snider who ultimately did not pay and sued the Oklahoma Real Estate Commission.  A great story of an innovator way ahead of the times….well Mr. Snider, we thank you, and we hope to continue to push the envelope as an Exclusive Buyers Agent here @ CondoDomain.com

“The Oklahoma Real Estate Commission had claimed that advertising material, handed out by Kenny Snider, a broker and owner of the Woodward, Oklahoma franchise for The Buyer’s Agent was false and misleading and fined the broker $200. Snider refused to pay up and the case went to court.

The litigation began in 1993 when Snider began receiving cease and desist letters from the real estate commission. What got the commission’s goat was something brought to its attention by Snider’s angry competitors - traditional brokers who didn’t want the public to know that a better mouse trap might exist for the consumer. Seems Snider was also pointing out that the only true agency was exclusive agency and that if a buyer went with any other kind of agent, particularly dual agents, they wouldn’t be receiving full representation. Imagine the shock”  Continued…

Source: Realty Times

- - - - - - - - - - -  - - - - - - — - - - - - - - — - - - - — - - - - -

Working with an Exclusive Buyers Agent?

You may be…you may not be…. Why dont you ask them these questions and find out yourself.

1.    Will you show me all homes for sale that are ideal for me including New Construction, For Sale By Owner, Foreclosures & Auctions?
2.    Will you guarantee that all information I give you will be kept confidential?
3.    Will you guarantee me your undivided loyalty?
4.    Will you guarantee me that you will not try to change your relationship with me to “dual agency”, “designated agent”, “transactional agent”, or any other form of agency that offers reduced levels of service and could possibly compromise my negotiating position?
5.    Will you guarantee me that you will not be representing any seller at any time while you are working for me?
6.    Will you point out all the negative aspects of each property as well as the positive aspects so I will be fully informed when making my decision?
7.    Will you provide information on comparable sales and help me formulate an offering price and negotiating strategy?
8.    Will you provide me a list of lenders, home inspectors, insurance agents and other professionals that you recommend?
9.    Will you act in a Fiduciary capacity and owe all Fiduciary Duties to me?
10.    Can you guarantee me 100% loyalty 100% of the time?  Plus… Do you offer any kind of commission refund or rebate if I help in the search and compare process?

Only an Exclusive Buyers Agent working in an Exclusive Buyer Agency
can answer “Yes!” to ALL of the questions.

Yes, it’s true fellow crackberry addicts…Blackberry has recently announced a version of the Blackberry Pearl with a flip cover! The phone will be available this week, although a price has yet to be disclosed.

Good move for Blackberry, I can’t wait to get one! This move comes as no surprise as there is mounting competition from the iphone. 

Here at the CondoDomain offices the competition is clear, it is almost an exact 50/50 split amongst us, around half of us owning an iphone (If Tony will ever stop breaking his!) and half of us owning a blackberry!

According to an article by Bloomberg News, around 75% of mobile phones sold in the U.S. are the flip kind. Are you ready to flip out or what!?

Hey Tony, maybe if your iphone flipped it wouldn’t have iPhone Belly Flop!!!

Source: Bloomberg News

So…Is shotgunning a beer such a bad thing for a corporate executive (aka - founder of a startup or dot-com)?  I mean …. cut me some slack.  We just had a great month, we launched the Dallas Condo marketplace and we are gearing up to have a great last quarter.  Not to mention, its not like I do this every weekend, or every year for that matter.  Last shotgun I can remember was at least 6 years ago.

The Story: So earlier today I threw up a great photo of me (CEO) doing a shotgun with a fellow peer at the Patriots game last weekend.  (NOTE: @ a tailgate party…not in the stadium).

Anyway, since posting this, not more than 1 hour ago I have gotten over 20 emails / facebook messages from peers, friends, buddies, collegues on Facebook stating that I was “nuts”.

So, I ask again.  Is shotgunning a beer such a bad thing? If so someone please give me an explanation so I can accept my embarrassment & remove the photo or just deny it and claim Photoshop infringements!  I mean, if Joe or Rudy were around or even Mr. Barton or Mr. Kelman were there…I bet they would all be doing shotgun’s, no?

What is Shotgunning?  Check it out on wikipedia.

“Shotgunning is a means of consuming a canned beverage, especially beer, very quickly by a particular technique involving punching a hole in the side of the can. It is usually practiced as a form of drinking game and is especially popular among college students. The practice is known in parts of Australia as doing a “sub”, in parts of Western Canada as “springing a beer”, and in the eastern United States as “keying” (a beer).”

(I am going to categorize this post under “Real Estate & Technology”)

Ugh -let me say it one more time — UGH!  What a month August was….the challenges of a boot-strapped start-up within limited resources, trying to grow a high-tech web-business and take advantage of the timing we are so fortunate to have….ugh….I guess Ill get more into this later.

Today is Dallas Day!!!  And I want to thank all of you who have put in so many long days, extra hours and hard work to help us get to this big day.

Special thanks to our core team here in Boston - Jessica, Erica, Thomas & Ramos.  Special thanks to our newest addition who made Dallas happen - BL!  Special thanks to our new tech-savvy, super innovative, Dallas condo brokers - Keith Smith & Gary Tole and an extra special thanks to our Boston web design and technology partner Dreaming Code especially Akshay & my main man Dan!   Oh and special thanks to all the freeware that we love so much and that actually helps this thing rock: Skype, Wordpress, FreeConfrenceCall, GoogleTalk, Facebook and all the other platforms we have embraced.  Thank you!

The Press Release:

September 10, 2008 — CondoDomain.com is pleased to announce the launch of their web-based, flat fee real estate brokerage in the Dallas, Texas marketplace.

This is the second market launch for CondoDomain.com as they expand into their pre-existing 33 U.S. markets as a web-based buyers’ brokerage focusing on urban properties and new construction condominium developments.

Keith W. Smith has been named the Southwest & City Vice President for the Dallas marketplace and will now be in charge of all of the real estate brokerage in the Dallas/Fort Worth area. With over twenty years of experience, Smith is a valuable resource for buyers in the Dallas marketplace.

“We are very excited to join the CondoDomain.com team and to infuse the local Dallas market with this new web-based buyers’ brokerage business model,” says Smith. “The Boston team has proved the business model to be an instant success. With the positive response from buyers, the flat fee model makes all the sense in the world for educated individuals looking to share in the search and compare process and to be rewarded by receiving a large rebate of the brokers’ commission.”

A web-based buyers’ brokerage company offering full, buy-side services for a flat fee, CondoDomain.com LLC has given back more than $300,000 in refunds to their clients in Boston so far this year. On average, clients have received more than $13,000 at closing. As an innovative and forward-thinking company, CondoDomain.com continually implements the latest technology components into their platform to bring all real estate-related data, without exception, to the surface so clients can get a transparent and complete view of each property.

Utilizing the cutting-edge search platform, site users are able to browse the entire website for Dallas Condos and luxury Dallas real estate. Here they will find every MLS listing, every new development and existing luxury building, foreclosure listings, FSBO (for sale by owner) properties and even upcoming auctions.

“Each market is incredibly unique. By partnering with passionate leading market experts like Keith Smith, we are growing our network and brand as a top-notch buyers’ brokerage firm in each city,” says Brian-Logan Reid, National Director of Real Estate at CondoDomain.com. “The timing could not be more perfect for us to roll out our alternative brokerage model, giving consumers a choice and an opportunity to save money during a time when they need it most.”

About CondoDomain.com
CondoDomain.com is a web-based real estate brokerage based in Boston, MA. The company is expanding nationwide to offer its buyers’ brokerage services in more than 30 cities around the U.S. Currently operating in Boston and Dallas, CondoDomain offers an innovative flat-fee business model allowing the majority of the commission to be refunded to the buyer. By combining up-to-date MLS feeds, new construction buildings, FSBO, Foreclosures, Lofts and Auction listings all on one site, CondoDomain has become one of the most popular and user friendly real estate websites available. CondoDomain.com offers a 100% satisfaction guarantee to all of its clients, ensuring a professional, efficient, and pleasant transaction. Visit www.CondoDomain.com for more information or feel free to dive into our blogs at www.CondoDomain.com/Blog.

Press Contact:
Erica Farthing
Director of Social Media & Public Relations
877-852-6636  | erica@condoDomain.com

• Dallas Real Estate
• Boston Real Estate
• Atlanta Real Estate

Here @ CondoDomain.com we love to think we have the best real estate search site in the entire universe but of course…on humble Friday’s we realize that there is some other really cool sites out there too.

Sitting here in Boston on this beautiful day @ 3:30, where most have already bolted for the weekend (I guess we are still on summer hours).  Anyways, my point is that, the combination of our website being incredibly complex with multiple data sets, the reality of being a boot-strapped start-up and being 6000 miles away from the RE:Tech mecca (San Francisco)…well….basically…we are still (more like always) working on the site.

We launched the Dallas website last Friday….and ugh….one week later we are still having some parsing errors with the NTREIS (Dallas MLS) system.  I’m rambling….

MY POINT:

We are doing our best to deliver the best possible real estate search website for you in Boston and in Dallas…and soon to our remaining 35 urban metropolitan’s….BUT….

Remember, we are a real estate brokerage now and a very attractive one at that. There are not many of us out there that will offer you a huge commission refund when you buy a new home or condo like we do.  Actually I can count on one hand how many companies have non-traditional real estate services.

What I am trying to say here (obviously not a good writing day for me today) is that if you love Zip’s (Zip Realty) site, Coldwell Bankers website, maybe you love Trulia or even Zillow’s site - well - go ahead and keep using those site and keep notes on the properties addresses or MLS #’s that you love and we will still gladly be able to work with you!

PS - CondoDomain.com still is the best website in Boston & Dallas!

We hope that all of you have enjoyed a wonderful summer and we thought that we would send you a quick note with FIVE very exciting ‘things’ about our company!

1.    Hook up your friends and family! We are entering condo-buying season and we want to make sure we get the word out and remind you about our business model.  Here @ CondoDomain.com we work on a flat fee commission, so regardless of what you buy, we are compensated the same and refund the remainder of our commission to you.  On average our clients receive more than $13,000 back from us at the closing. So, be a good friend or family member and refer them to us so they can too save thousands of dollars and thank YOU for it!  Here is how it works.

2.    Breaking News! CondoDomain.com is pumping the Boston economy with its buyer broker commission refund.   At the end of August, the company has given back more than $300,000 to its clients in Boston.  Mr. Greenspan would be so proud of us!  Our clients have used their refund to purchase new furniture, electronics, paid down condo fee’s and mortgage payments and one even bought a new car!  Help us get to $1M and refer our company and our team members to your friends and family.  Check out our team.

3.    Commission Refunds are NOT taxable! Whooohooo.  How did I miss this one?  Via one of our most favorite clients (we love you all), we got some scoop that our commission refunds to our clients are NOT considered taxable income!  So no matter if we are giving you back $5,000, $10,000 or our record breaking $35,000 cash refund - it is not considered taxable income!!!  More here on our blog.

4.    Developers & Marketing Personal Give It To Us! Our clients are thirsty for updated information on your new development.  Got news?  New details?  Cool updates?  Send it our way and we will post to our online audience.  Contact Jessica.

5.    Keith Smith, Gary Tole & Dallas, TX. We are ecstatic to announce the opening of our second market - Dallas, TX!  Local brokers Keith Smith & Gary Tole have helped us launch our flat fee buyers brokerage model in the Lone Star state.  Welcome to the team Keith & Gary and we look forward to building Dallas with you!  Visit the new Dallas website.

As always, we want to personally thank all of your for your referrals, help and support in making CondoDomain.com what it is today.

Sincerely,

The Entire CondoDomain Team
Boston & Now Dallas!
www.CondoDomain.com

PS - Facebook junkies.  Join our Facebook groups.
Boston Real Estate Exposed
Dallas Real Estate Exposed
CondoDomain Main Group