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The Power of Voice

Google Android

Much has been made of the impact of the iPad for real estate agents. The iPad might be the best way to present listing presentations and truly wow your client. But I’m really excited about Google’s announcement today about new Voice Actions for the Android.

The new update let’s you use your voice to easily send text messages, dictate email messages, call contacts or businesses, get directions, and make “notes to self”. And Google doesn’t just search your phone for information, it also searches the web. Google showed these features off at a live demo recently, and as TechCrunch says, “it actually works.”

It’s not hard to see the benefits of these new Android features, especially for real estate agents. Real estate agents are true road warriors, and unless you have an assistant, it is hard to be productive while on the road. Hopefully you aren’t texting and sending emails while driving! Police in California and across the country are increasing enforcement of the hands-free laws, not to mention the increased accidents caused by texting and talking on cell phones while driving.

Just see a home your client might like? Dictate a quick email while you head back to the office.

Remember something important you need to show a client while driving to lunch? Record a quick note so you don’t forget.

Having trouble finding an open house? Need to text a client that you’re running a few minutes late? Want to take notes as you drive from home to home on broker tour?

The implication for real estate agents is clear. Now is the time to get that new Android phone. That is, if you haven’t already fallen in love with an iPhone.

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Top Real Estate Agents Revealed

Top Of Chart

We all know that the residential real estate industry is an excellent example of the Pareto principle – that 20% of real estate agents make 80% of the money. But until I saw this report from Real Trends and the Wall Street Journal, I didn’t realize how big the disparity between the top and bottom actually is. As you take a look at this list, keep in mind that the average Realtor® does about 7 transaction sides in a given year.

This list should be a motivator. These agents are clearly doing something right; rather, they are likely doing a lot of things right. Even in a down market, there is opportunity to learn and improve and ultimately close more transaction (unless you are Joe Kadaf from Dearborn Heights, Michigan of course).

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Sliced Simple Launches First Social Collaboration Solution for Real Estate

As the first social collaboration solution for real estate, Sliced Simple is revolutionizing home buying for homebuyers and their real estate agents.

Press Release – August 4, 2010

Today, Sliced Simple unveiled the first social collaboration solution to help real estate agents and homebuyers work together.

According to the National Association of Realtors®, homebuyers are now as likely to find their future home online as through their real estate agent. The numerous online home search sites have empowered buyers, but in the process, have distanced them from their most valuable asset, their real estate agent.

Real estate agents provide significant guidance through their local market knowledge and experience. With homebuyers searching online and seeing homes independently, it is becoming increasingly difficult for real estate agents to fully share that knowledge and experience.

A new approach to real estate, Sliced Simple’s social collaboration software enables homebuyers and real estate agents to work seamlessly together. Sliced Simple empowers buyers with accurate home data and a way to manage their search while also keeping them tightly connected with their real estate agent.

“Buying a home is an important and complicated transaction. We believe that the best results are achieved through open collaboration. The homebuyer stays intimately involved in the process without losing the guidance of their agent,” said Stuart Eichert, Sliced Simple CEO. “By enabling collaboration and leveraging ideas from social networking, we can dramatically improve the home buying experience for both the buyer and the agent.”

With this launch, homebuyers in the San Francisco Bay Area can use Sliced Simple to search the MLSListings MLS to find homes for sale. Additional MLSs will be added in the future.

Sliced Simple is free for real estate agents and brokers, and their homebuyers. Agents can upgrade to more advanced collaboration and client management features for a fee.

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The Ultimate Team Game

World Cup Soccer

As I was watching World Cup Soccer over the past few weeks, it dawned on me that soccer, when played at its highest level, is the ultimate team sport. Eleven men, playing together, to win together.

Sure, basketball and baseball and football are team sports as well. But more than any of those sports, you have to play together as a team to excel in soccer. In soccer, one player cannot take over. You don’t hear about a player being “on fire” and almost single-handedly carrying a team to victory.

Winning in soccer requires not playing as eleven highly skilled athletes, but rather as a single fluid team. Watching the highlights of the World Cup, one thing that stands out is that it is extremely difficult to create goals on your own. There’s almost always a well-timed pass and a question about being onside that leads to a spectacular goal.

That’s also why some highly ranked teams struggle in the World Cup. The individual players are amazing, but they are not used to playing together. They can’t anticipate each other’s moves. They don’t communicate well on the field. They simply are not working together as a single unit.

Watching the beauty of the World Cup was a refreshing change from my memories of soccer as a kid. Soccer, at the level I played, aka the lowest level, is eleven kids running around excitedly. I would chase the ball no matter where on the field it was. I would run right next to my teammates, instead of creating passing opportunities. And I’m pretty sure I even stole the ball from a teammate or two. The amount of duplicated effort and missed opportunities was amazing. Goals were only scored due to individual valiant efforts. But I was eight, and I had fun.

Spain, on the other hand, showed how to truly play together as a team. They allowed only two goals throughout the entire tournament! And the winning goal: A beautiful pass from Cesc Fabregas to Andres Iniesta. A question about being onside. And then a fantastic strike on goal. GGGGOOOOOOAAAAALLLLLL!

Congratulations to Spain. In the ultimate team sport, you were the ultimate team.

At Sliced Simple, we want to make real estate more of a team sport. Today, home buyers and their real estate agents are duplicating efforts and missing opportunities. By enabling buyers and their agents to work seamlessly together, we believe they can achieve spectacular goals.

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The Strategic Default

Loan ApplicationA few months ago the hot topic seemed to be about the much intriguing shadow inventory. While we don’t really know the size of the shadow inventory and how many homes will be foreclosed, the current hot topic seems to be about home owners intentionally defaulting. These home owners are choosing to “strategically default” and using the money elsewhere, dangerously betting that it will take their lender a long time to evict them.

As is being reported in a number of places, it seems like this risky strategy may have just gotten riskier. There is some debate as to whether Fannie Mae will be able to legally carry through with their firm language, or if this will even have an impact on “strategic defaults”.

But we at Sliced Simple would rather not see any more defaults, strategically or not. Here’s to hoping that both sides can begin talking instead of posturing.

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Do You Know Where Your Clients Are Right Now?

According to the National Association of Realtors, the #1 most used and most useful resource used by home buyers is the Internet. 87% of home buyers used the internet as part of their home search and 69% used the internet frequently.1 If you are a real estate agent, this begs the question: how do you guide your clients while they are on the Internet?

Google recently released a list of the 1000 most visited sites on the web. Realtor.com and Zillow both made the top 1000. Facebook is #1, in case you’re curious.

Do you know what sites your buyers are on and what homes they are searching for? With Sliced Simple, you can give your clients an accurate resource to search for homes that also keeps you tightly connected with them. With real-time visibility into what homes your client is looking at, considering, visiting and rejecting, you can more effectively guide them.

By being better connected, we believe both the agent and the home buyer benefit. The buyer is empowered to be actively involved, and can now fully leverage the knowledge and experience of her agent. The agent now has more opportunities and the visibility to properly guide her clients and demonstrate her true value.

While the Internet will remain the #1 most used resource for home buyers, we want to make real estate agents the #1 most useful resource.

1 National Association of Realtors Profile of Home Buyers and Sellers 2008

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A Step Towards the American Dream…in a New Apartment

Everyone knows that buying and moving into your first home is a grand milestone. It is celebrated. Politicians subsidize it. Hollywood glamorizes it. Couples dream about it. After all, it’s part of the American Dream. But there are many people everyday making significant life changes and marking the occasion with a new home…not by buying a new house, but by renting a new apartment.

The New York Times calls it “The Major-Step-In-Life Apartment”, and it is a story I can relate to. Having lived in San Francisco and New York, buying a home is difficult unless you are willing to leave the city. Yet our lives continue to change, evolve, and grow in these bustling cities. Moving in together. Marriage. Kids. As my friends have reached various milestones in their lives, instead of leaving the city for suburban pastures, I’ve noticed that many of them have moved into their “Major-Step-In-Life Apartment”.

It may not be the glamorized Hollywood story of the new couple moving into their beautiful new home. But it is part of starting something new together. A way to celebrate a major life change. Building a home for both of you.

And in that respect, moving into your “Major-Step-In-Life Apartment” is just as much part of the American Dream.

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Is Community Dying? Or Has It Moved Online?

As we work on improving the home buying and selling experience for real estate agents, buyers and sellers, we often end up discussing various tangential topics. One topic that always invokes spirited emotion from our group is around the idea of community.

When I was growing up, we lived in a suburban neighborhood. It wasn’t Pleasantville, and there weren’t any white picket fences. But we knew our neighbors. Actually, we didn’t just know them, we were friends. The parents would talk and help each other out. The kids knew each other and played in the street. We didn’t have a neighborhood watch group or a homeowners association, because we didn’t need them. Disputes were still settled. People still maintained their yards. Neighbors still watched out for strangers. And not because they were told to or because of a possible fine from the homeowners association, but because we were part of a community.

Over the years, despite the reduction in privacy on the internet, people seem to have clung to their privacy at home. As I look around, I feel that that sense of community that was there when I was a child isn’t quite as strong. Sure, you might know your neighbors? But are you friends? Would you let them take care of your kids? Do you invite them over for dinner? Do you know the people in the home three houses down?

Neighborhoods now have groups and associations and rules. Which makes me wonder how to interpret this recent New York Times article describing how neighborhoods are creating communities…online.

Online Community

Is this just savvy Marketing on the part of developers? Is this just further indication that people are willing to connect online, but not outside their home? Is this what community now means? I hope not.

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Baby Names

One of the hardest things we did in our first couple months was decide on our brand name. As we went through the process, it dawned on me that it’s harder to name a company than it is to name a baby. Now maybe that’s just because I’ve never named a baby before, but I don’t think so.

Baby

In both cases, the name should be appealing, not offensive (in any language ideally), and easy to say and remember in the local culture. I realize these aren’t absolute rules, but I think most would agree.

And in both cases, all parties involved have to like the name. For a baby, there are usually two parties that matter (the parents). For our company, there happened to be three, which made agreement significantly harder. Even if you assume that most companies have at most two founders, here’s where things really start to diverge:

Equity fit – We wanted our brand name to represent certain qualities and ideas that we knew our company and product would possess. Established companies often spend lots of money working with a branding agency to come up with just the right name that evokes just the right emotions. That isn’t true for a newborn. While you may care what your new baby name means or symbolizes, it doesn’t have to convey nearly as much on its own as a brand name does.

Memorable – We wanted our brand name to be memorable and distinct and help us carve out a unique space in the industry. When naming a baby, memorable often means picking a common or trendy name. And it is much more difficult to choose a name that you like that is distinct! Unless you are one of the parents who named your child Qwerty.

Domain registration – Registering our domain name might have been our biggest hurdle. Almost every, short, logical word or group of words is already taken. Some of them are taken by legitimate businesses and start-ups. And a lot of them are taken by speculators who have no intention of using that domain name. If you have the money to buy the perfect domain name, then this isn’t a big issue. But for a resource-lean company like ours, that wasn’t an option. We had to be really creative in coming up with our possible names. Now this isn’t an issue when picking a baby name. While most male and female names are already registered, it just isn’t a big factor in choosing the right name for your little one.

And there were other important factors in our brand name choice, such as our strategic focus and direction, search engine ranking, and trademark-ability, that simply aren’t factors when naming a baby.

Now that it’s all said and done, we’re quite happy with the final result. But it wasn’t easy. Definitely not as easy as naming a baby.

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the collaborative way to buy or sell a home

This is our first blog entry…and I know exactly what real estate agents everywhere are thinking.

“Tell me this isn’t another company trying to sell me something!”
- Anonymous real estate agent


And to be honest, I agree with them. The number of companies selling lead generation, client management software, websites, marketing solutions, etc. to agents is astonishing. With so many companies constantly selling to them, it’s amazing that they have time to be involved in almost every residential real estate transaction nationwide.

Sliced Simple actually shouldn’t even exist. When Kiran bought his home, he realized that technology and mobile communications had changed residential real estate. Buying a home is now an active partnership. And painfully, he realized that neither he nor his agent had the tools to truly work together.

That was in 2006. Fast forward to 2010, and a truly collaborative solution to residential real estate still does not exist. That is why we started this company.

We didn’t invent the idea of collaboration software. Numerous industries have already benefited from powerful collaboration tools. But we are the first truly collaborative solution for real estate.

There are a lot of things we want from this company. We want to help agents be more successful. We want to help buyers find their new home. We want to help sellers during a stressful time. And we want to help them do it together.

Simply, we want to make the real estate experience better.

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