"The Wheel of Time turns, and Ages come and pass, leaving memories that become legend. Legend fades to myth, and even myth is long forgotten when the Age that gave it birth comes again."
It’s a hot Saturday morning here in Houston, and the sunlight is so strong you can almost feel the weight of it on your skin. Maybe it’s early onset of sunstroke, but I felt like musing on random things. Feel free to skip this post; it isn’t likely to be useful to anyone.
But I’m thinking about Google+ more, about Internet 2.0, and human beings. I wonder if the future — what we might term Internet 2.0 — will simply be a return of the walled gardens of the early days of the Internet. Things go in cycles. The Wheel of Time turns.
Even though this video looks like hundreds of other listing videos that real estate agents have been shooting for years now, with the help of companies like Real Estate Shows and WellcomeMat, that video, you see, constitutes journalism. It comes from the Wall Street Journal, from their Developments Blog, as part of a feature they call House of the Day. The entry above says:
The latest video is of Bob and Linda Glassman’s home on the market, fitting for the upcoming Independence Day holiday. It dates to the late 18th century and was built for the nephew of a man who led a battle at Concord in 1775.
The photos are “courtesy of Coldwell Banker Residential Brokerage”. Good for them, I say, to get so much free advertising for one of their listings, one priced north of $4m. Because those photos are exactly what you’d see in a listing.
Listen to the well-spoken narrator recite, “has a game room, an exercise room, and a two bedroom, one bathroom apartment”. She talks about the wonderful granite countertops in the kitchen, crown moldings, custom cabinetry, and the like. Sounds like a decent real listing agent, except she simply doesn’t sound all that excited about the property.
The reason, you see, is that this narrator is a journalist. It says so right at the start of the video: “Reporter: Sushil Cheema”. One assumes that this reporter is the same Sushil Cheema who has a BA in Anthropology and a MS in Journalism, both from Columbia University (our most-brilliant-President-ever’s alma mater) and has joined the WSJ in 2008 as a “multimedia reporter”. She must be narrating these not-so-great real estate ads through gritted teeth, telling herself that this sort of whoring is the price to do real journalism at some point in the future.
I yield to no man in my admiration for the WSJ as a newspaper and as a journalistic organization, but in this case, our friends have badly erred.
We need a rather sharper distinction between real estate journalism and real estate marketing these days, especially as real estate brokers and agents get better and better at producing “content”. WSJ and other outlets that purport to be “real news” organizations ought to stop bothering with these easy eye-candy pieces, and just link to well-produced videos by actual real estate professionals.
Journalists Wanted: Report on Real Estate Matters
I suppose I get why the WSJ Online wants to do these eye-candy pieces: they’re popular with the audience. When you’re in the business of selling eyeballs to advertisers, it doesn’t much matter what you’re producing. Look at the sheer number of celebrity real estate stories all over the Web, from Yahoo Real Estate to Zillow’s Blog to AOL Real Estate. Does the fact that some movie starlet is selling her $8.4 million doghouse in Beverly Hills make any difference to any of our lives? No. But we all care a great deal for some reason, living in the celebrity-obsessed culture of the 21st century America.
At the same time, perhaps now more than ever, given the depth of the crisis in real estate, given that the proximate cause of our Great Recession (now officially worse than the Great Depression!) was real estate, given the importance of real estate to every single family in the nation, and given how much stuff is going on in real estate… we need journalists to do that thing they call “reporting” on real estate.
What’s going on with multifamily financing? What’s happening inside the banks and the loan servicing companies that have been raked so harshly over the coals on Foreclosuregate? What happened to HUD’s gigantic PETRA program to change public housing as we know it?
Maybe it’s selfish of me, as a blogger, to want journalists to report news I can use, comment on, and discuss… but isn’t the job of a journalist ostensibly to report… you know… news? Get information the rest of us can’t, or won’t, and tell us what’s going on? Isn’t that value why they get paid a salary (meager as it may be) while we bloggers opine away for free?
A Suggestion to News Organizations
Lest it be said that all I do is complain, let me suggest a possible solution to the various newspapers, online news organizations, and the like as it comes to reporting on real estate.
Launch a new affiliate program that can help you get the eye-candy content you want to generate the eyeballs so you can pay the bills, while your Columbia-trained journalists get around to digging around for real information. Here’s how it would work.
First, offer “free” content publishing to the real estate industry. That listing video above could very easily have been produced by the listing agent (and for all I know, may have been). Create a program where real estate brokers and agents can send you content, and if it meets your approval, you will publish it. Yes, it’s an ad; yes, those people are just trying to expose a client’s listing to more people. And yes, they’d love it if their listing video got picked up by CNN.com for “House of the Day” or some such. But what of it? Just let your audience know that the video came from Such-and-such Realty, and they won’t mind.
Second, create an open-ended Contributor Program. Many a blogger would give you a permanent license to a post of theirs if a big major news company wanted to republish it. Give them some small percentage (15%? 10%?) of ad revenues generated by their post, in exchange for a permanent license. They get to keep the copyright jointly, so they don’t lose ownership (as they do in so many of the $100/post freelance blogger contracts), but you get content you only pay for upon performance. Many people would do this just to have the opportunity to have one of their posts up on WSJ.com or on Forbes or whatever. As long as you’re not obligated to publish everything someone writes, you have a nearly unlimited source of free content.
And many of those bloggers would go out of their way to blog about LeBron’s new house, or some celebutard’s overpriced beach house in Malibu.
Third, create an advertising affiliate platform. I just don’t know why newspapers and local TV with their professional ad sales teams don’t bother with this. Even at some crazy splits like 60/40, and at microscopic CPM’s, many a blogger would gladly embed a little advertising code for a few extra dollars a year.
With those three programs, perhaps your Real Estate Department can make enough money to keep paying your reporters to go out and write hard news stories. We all surely could use more of those, and less of what passes for journalism in real estate these days.
Or, ignore me and you go on with your bad self “reporting” on a listing video. See where that gets ya.
Ted Williams: .406 batting average in 1941. Me: .600 in 2009. Sorta...
Coming off of an awesome, Hall-of-Fame type of year in which I batted .600 in predictions (or, alternatively, a year in which I only got 6 out of 10 predictions even remotely close to right, and hence am a big #FAIL), I thought I would don the Nostradamus hat once again and make foolish predictions for 2011. I know I should make 10 predictions, but… y’know, I’m sort of stuck on that number Seven.
Here are seven predictions for 2011. Many are guaranteed to be wrong, or your money back! But as a bonus, each prediction comes with a music video for your entertainment.
[Warning: don’t read this is you’re feeling happy and optimistic, and you want to stay that way. I’m personally feeling happy and optimistic, but as I put this together, I can’t help but want to reach for strong drink for the industry as a whole. I know I tend towards bearishness, and some might suggest, alarmism, so… I’d suggest you go read some other 2011 predictions posts as well. Here are a few I’ve seen myself: Lani on Agent Genius, Greg Robertson on VendorAlley, and this whole series over at Inman.com.
My friend Matt Dollinger recently commented on a post by the longtime real estate expert Steve Harney. Both were commenting on the doom & gloom article from Time Magazine on how homeownership is overrated. Steve Harney rightfully takes Time to task:
Again, they are simply arguing a miniscule point of an extensive research paper that proves the benefits of homeownership. Where is their research, their study, their expert testimony disproving this study’s results? They gave none because there is none. (Emphasis in original.)
Matt, in commenting on what Steve Harney wrote, and on the gloomy headlines from newspapers and magazines, suggests that real estate agents need to start focusing on how to answer questions from confused consumers:
We all understand that this is a difficult time for those in real estate… both consumers and agents alike. However, your job above all else, is to become the Trusted Advisor of those closest to you and choosing you to represent them. That means that you are responsible for being able to decipher fact from fiction and opinion from proof. There are many conflicting headlines out there today published by everyone from trusted sources like Wall Street Journal, CNN and many others. Your job is to sift through this material and create KNOWLEDGE from the DATA presented. Only by creating this knowledge and providing it objectively to your clients can you truly assist in their decision to buy, sell or invest in real estate.
I agree wholeheartedly with both Steve and Matt insofar as their trashing of Time’s “reporting” and their recommendations to real estate professionals. I do, however, think that the implications they draw are not necessarily what we’re going to face.
I believe that every real estate professional today, like it or not, has to become an amateur political analyst because it is well-nigh impossible even to understand what to make of conflicting headlines without understanding the political implications.
So this morning, I do something completely unusual for me: I turn on the TV and watch one of the morning shows while sipping coffee. I normally never turn the TV on except for NFL games, maybe ESPN, or something special I really have to see. But I did today, and happened to catch a segment on CBS Early Show where a Rebecca Jarvis, on how to avoid common real estate mistakes. This is the associated web story (I am looking for the video of that segment right now).
In that segment, and the associated story, Jarvis brought up some good solid advice as well as a couple of points that I found… shall we say, “interesting”.
First, she thinks the #1 mistake that sellers make is that they pick “bad agents”. The advice, then, is as follows (from the web article linked to above):
Find someone who has successfully sold similar homes in your area. When you’re selecting an agent, ask them to show you three recent sales of homes comparable to yours in price and location. You may also want to look at their asking price-to-selling price ratio.
Hmm.
Second, she advises buyers to retain a real estate attorney:
You may want to consider hiring a lawyer. It’s the only person in a transaction that’s not incentivized to get a deal done. A real estate attorney will charge flat fees and offer objective advice.
Uh-huh.
Some questions and thoughts from yours truly follow.
I've uncovered a terrible secret... a conspiracy...
So earlier today, I get an interesting email from our form on 7DSAssociates.com:
First Name: NAR
Last Name: Scandal
Email Address:
Company: NARscandal.com
Title:
Phone:
Comments: Breaking News! New Scandal at the NAR
Exclusive from NARscandal.com
A new scandal is brewing over at the National Association of Realtors and we at (www.NARscandal.com) have the “exclusive story” along with quality in-depth reporting you can find no where else.
This scandal is a true living tale of real estate, the internet, technology, money, power & greed.
A must read for every member of the National Association of Realtors (NAR) as well as every citizen and homeowner within the United States and modernized world, as this one actually has the power to affect our future as well as future generations to follow, in so many ways.
Click here to read all of the latest details at ( http://www.NARscandal.com ).
Sincerely,
The Researchers & Writers
www.NARscandal.com
http://twitter.com/narscandal.com
“The Next Generation of Real Estate Media”
Naturally, I am intrigued by the “Next Generation of Real Estate Media” that is talking about scandals and intrigues, power and greed, a shadowy powerful conspiracy with the power to affect future generations for years to come! I’m sure there’s some sort of a DaVinci Code type of puzzle or three involved. Tom Hanks and sexy French lady can’t be far behind!
Michael Yon is an independent journalist who reports from Iraq, Afghanistan, and other parts of the world where the U.S. military (and its allies) are fighting. I happen to love his work, and believe it points to the future of journalism, but that’s a different story.
He recently posted a report on Facebook about two soldiers who were killed by Taliban attacks. That in and of itself is not unusual. He does this all the time, doing the job that the national media rarely does.
What is unusual is that in the comments to this report on Facebook, a Mike Garcia attacked Yon for releasing the names of the soldiers before the DoD got around to it. Scroll down in Michael’s fan page to find this thread, as I couldn’t find a way to link directly to his post and to the comments.
Turns out that Yon had followed all guidelines, directives, and had cleared the release with Army commanders on the ground in Afghanistan. What followed is where things get interesting for us.
We see that Mike Garcia says that the FB comment is is personal opinion, that he is not representing the US Army or speak in any official capacity, even though he is a Public Affairs Officer.
Michael Yon is having none of it. He believes that the fact that Mike Garcia is a Public Affairs Officer of the US Army means that he represents the Army even on a Facebook comment. Which means that Yon believes he can now sue the Army for defamation and libel.
Now while it’s highly unlikely that Yon would actually sue the Army for defamation, I sorta hope he would so we’d get a case directly on point as to when the employer is and is not responsible for the social media actions of an employee, and what the relevant factors might be. In this case, Major Garcia is a Public Affairs Officer — something close to a PR person — and posting on Facebook is likely in the sphere of his employment. Respondeat superior ought to follow.
But at a minimum, we might see the Army promulgate specific directives clarifying when a soldier (an employee of the Army) is and is not speaking for the Army when engaging in social media. That would be helpful for additional clarity.
If you live in the United States, and rely solely on PravdaNew York Times or similar for your news, you’re probably unaware of Climategate. Basically, the entire premise of the global warming/carbon footprint craze of the past few years turns out to be totally bogus. From the RealClearPolitics.com overview:
Global warming “skeptics” had unearthed evidence that scientists at the Hadley Climatic Research Unit at Britain’s University of East Anglia had cherry-picked data to manufacture a “hockey stick” graph showing a dramatic-but illusory-runaway warming trend in the late 20th century.
But now newer and much broader evidence has emerged that looks like it will break that scandal wide open. Pundits have already named it “Climategate.”
A hacker-or possibly a disillusioned insider-has gathered thousands of e-mails and data from the CRU and made them available on the Web. Officials at the CRU have verified the breach of their system and acknowledged that the e-mails appear to be genuine.
For even more damning evidence of a conspiracy to defraud the world, pervert the scientific process, and cover things up, check out this post from Australia. Because they still have, you know, “journalists” interested in investigative journalism there. One day, we might import some of these useful fellows from Australia to the United States….
While Climategate is a scandal of the first order, and all Americans (indeed, all humans) should care about it, as real estate people, we need to take a look at how Climategate will impact the industry.
Nearly one in five (19%) online Americans now uses Twitter or a similar service to post and share updates about themselves, or to see updates about others, according to the latest survey data from the Pew Internet & American Life Project.
This figure represents a significant increase over previous surveys that reported on Twitter use. Research in in December 2008 and April 2009 from Pew found that only 11% of internet users preported using a status-update service, while a similar study by Harris Interactive in March/April of 2009 found that number to be even lower, at 5%.
Let’s assume that the research is valid and accurate. 1 out of 5 is an amazing figure in and of itself.
There are, however, two other even more amazing observations that can be made if we take the 20% figure as valid.
First, we may be heading towards a self-balkanized America with no common shared cultural touchpoint.
Well, the #1 highest ranked Twitter user in terms of number of followers is one Ashton Kutcher, with 3.88 million followers or 12.3% of the total Twittering Americans. That’s it. in terms of news or information sources, CNN tops the list with 2.79 million followers, or 8.8%.
The implication is that Americans have formed a bunch of small cells of their friends, colleagues, people they know on Twitter — there is no Twitter user/company/whatever that commands the majority of the Americans using Twitter for whatever it is that they use it for.
If social networks is the future of information distribution and communication, then we’re likely headed into a society without a defining common shared source of information or culture. We’re going to make references, allusions, and jokes that will become increasingly “insider info”. Gamers will instantly know what other gamers are talking about, while art fans will be speaking mostly with other art fans. Micro-fragmentation appears to be something we need to think about.
Second, maybe none of that micro-fragmentation stuff will matter because Americans are just plain too dumb to survive in a challenging world.
Here’s the top ten most popular (in terms of number of followers) users on Twitter:
1. Ashton Kutcher (aplusk)
2. Britney Spears (britneyspears)
3. Ellen DeGeneres (TheEllenShow)
4. CNN Breaking News (cnnbrk)
5. Twitter (twitter)
6. Kim Kardashian (KimKardashian)
7. Ryan Seacrest (RyanSeacrest)
8. Barack Obama (BarackObama)
9. John Mayer (johncmayer)
10. Oprah Winfrey (Oprah)
Seven of the Top Ten (eight if you include Barack Obama, Celebrity President) is an entertainer/celebrity. Some are celebrities that are famous for being famous — Kim Kardashian for example.
If this is what Americans want, then that’s what Americans want. Just don’t ask me to think the future is rosy and wonderful on this evidence.
-rsh
PS: Note that adult Twitter users are computer-literate, tech-savvy people over 18. The supposed creme de la creme of our society, who “get it”. Oh #*@(%@!
Many social media professionals talk as if social media is the future of media, then act exactly the opposite when camera crews show up.
I can’t forget the moment. Due to some deadlines, I excused myself from a session to get some work done while everyone else was attending a session or a keynote. I found myself at the cafe near the Convention Center, setup the mobile office, and started working. The TV on the wall was tuned to something I can’t recall, since i wasn’t paying attention to it.
Suddenly, a youngish gent walks in, instantly recognizable as a BlogWorld attendee: thick black plastic frame glasses, some witty geek-chic T-shirt (like, “I Twitter, therefore I am” or some such), jeans, and a backpack. He asks the cafe staff if he can change the channel to CNN — and they say yes. CNN comes on, and they’re doing a segment on BlogWorld. Ah ha! That’s why this guy was so interested.
Some nameless anchor who I couldn’t pick out at a lineup is interviewing a number of folks, including one of the founders of BlogWorld, and the talking heads are going on and on. And I found myself wondering… if a blogger had contacted the organizer of the Annual Conference of the American Society of Newspaper Editors... would one of them have dropped everything in the middle of the conference to get on a videochat with him?
Would any attendee at ASNE’s Annual Conference have stopped whatever he was doing to rush to a laptop because he had heard that The Bloggess was going to post an interview with the editor of some newspaper?
Actions speak louder than words. And this, frankly, is why I fear that social media might be hype after all.
