February Experiment: Altos Research

Fresh off our experiment with Heap CRM comes a new experiment for February: Altos Research. Twitter addicts, conference attendees and Lucky Strike Social Media Club members may already be familiar with Altos Research’s co-founder, Mike Simonsen. Besides being an all around nice guy he is also a known peddler of real estate data reports.

Before getting into Altos Research here is a refresher on what our monthly experiments are all about:

What Our Monthly Experiments Are Designed To Do

Each month we choose an online service or product that we’re going to try out over the next 28-30 days. These products/services are chosen at random though we are open to suggestions (let us know what you want to see put to the test in the comments below.)

After the experiment has been chosen we keep you up-to-date on how useful the product/service is for our businesses and whether it’s worth trying and/or paying for.

What is Altos Research?

Altos Research is a third party provider of real estate data reports. These reports include market statistics like pricing trends, whether it’s a buyer or seller’s market, recent activity by zip code (i.e. homes absorbed, number of new listings) and automatically updated website inserts that contain valuable market data for homebuyers.

Here’s an example of the automatically updated inserts on my website HouseMeetsOwner.com:

Why It Was Chosen

When RPR was introduced it rocked the real estate data world. There was even (what I consider to be) an exaggerated death knell for data providers like Altos Research because of the premise that RPR would be the all encompassing source for data real estate pros need.

Upon further digging into RPR I discovered this tidbit (emphasis added):

Members who register with a valid NRDS ID can access non-proprietary, non-MLS/CIE sourced data; however, only MLS/CIE Subscribers/Participants will be able to view MLS/CIE sourced information. There will be no public access to the RPR™, and the database and its data cannot be shared through consumer websites.

This reaffirms my belief that data providers still serve a purpose in our industry so I wanted to give exposure to that cause all the while putting one such provider to the test. Be sure to subscribe to OnlineRealEstate101.com by RSS or email to read about our experience with Altos Research over the next month!

Monday Q&A: What is Anchor Text?

Search engine optimization (aka SEO) is the practice of optimizing your website so that info seeking bots from search engines like Google and Bing can crawl your site quickly and read all of your content. By doing this the search engines can direct searchers to your website if your content is relevant to their search query. Unfortunately, just being relevant won’t get you to #1 in Google.

Another part of SEO is a link value system search bots use to evaluate the importance of each site on the web. The more links you have to your website from highly trusted websites (like CNN.com or your local newspaper’s site) the more important those bots will think your site is.

If the search bots think your site is of some importance they will place you higher in the search engine result pages (i.e. third result on page 1 instead of result #18 on page 2) than sites with similar information but no sites linking back to them.

Here’s an example:

Website #1 is considered very trustworthy because it has been around for 10 years and has over 25,000 other websites linking to it. If Website #1 links to Website #2 (your site) then the info seeking search bots see your site as more important and trustworthy than Website #3 which has no links from other sites to it.

That leads us into our Monday Q&A question…

Question:

“What is anchor text?”

Answer:

The link text Website #1 uses to describe your website will play a major role in how the search bots use your site. That link text is called “anchor text”. For example, if Website #1 links to your site with the anchor text “Sarasota, FL real estate” your website is more likely to appear near the top of the search results when someone searches for “Sarasota, FL real estate” than competing Website #3 above which still has no links from other sites vouching for its relevance to that topic.

Here’s an example of anchor text in a link courtesy of Wikipedia.org’s definition for anchor text:

<a href=”http://en.wikipedia.org/wiki/Main_Page”>Wikipedia</a>

The anchor text in this example is “Wikipedia”; the unwieldy URL http://en.wikipedia.org/wiki/Main_Page displays on the web page as Wikipedia, contributing to clean, easy-to-read text.

How do I use anchor text to rank higher in search engines?

You won’t always be able to control the anchor text used to describe your website but when you can be sure to focus on a set of keywords that you want your site to rank higher for.

Doing keyword research with tools like Google’s Keyword Tool will help guide you on keywords and phrases that are most frequently searched for so you can target the largest possible audience.

Have any questions about anchor text or finding keywords for your site? Feel free to leave a comment below!

Monday Q&A: What is a “One Click WordPress Install”? [Video]

We’re pretty big fans of WordPress around here. It’s such an easy to use, free content management system for your website with a plug-in system that lets you add totally new functionality to your site within minutes.

Question:

“What is a “One Click WordPress Install”?”

Answer:

Part of what makes WordPress so popular is its famous “one click install” which can be done using your web host’s control panel. In the video below, Eric Bramlett walks you through how to install WordPress in one-click using Dreamhost:

Tip: OnlineRealEstate101.com readers can save 20% off a yearly hosting plan with Dreamhost by using promo code ORE20OFF.

Photo Credit: swruler9284

This post contains affiliate links. Find out why we use affiliate links by clicking here.

Monday Q&A: What Is Screencasting?

Today’s question focuses on a video format that has been gaining a lot of traction outside of its traditional education-focused niche: screencasting.

Question:

“What is screencasting and how can I use it to get more sales?”

What is Screencasting?

Screencasting has been used by educators and trainers to teach students online for many years. In its most basic form screencasting is a video recording of the teacher’s computer desktop with an audio track that allows the teacher to explain what they are demonstrating in the video. That is an oversimplification of what screencasting is really capable of but as a definition it’ll do.

Here are a few real-estate specific examples of how to use screencasting in your business:

  • 1-2 minute video showcasing how to use your website’s real estate search.
  • Under 30 second clip showing clients how to open email links if they’re not formatted properly.
  • Explain market conditions using data reports on your desktop combined with a video from your webcam.

The two leading programs for screencast creation are Camtasia Studio (Mac and Windows) and Screenflow (Mac). You can usually save a few bucks on Camtasia Studio if you buy it at Amazon.com .

Each screencasting package offers a free trial so you can test the software, create some screencasts and see how you like the platform. If you do create a screencast be sure to post a link in the comments below so we can check it out!

Here’s a guide on what you can do with Screenflow from YouTube user SoldierKnowsBest:

Photo Credit: Яick Harris

This post contains affiliate links. Find out why we use affiliate links by clicking here.

Site Building 101: How To Build an Email Drip Campaign

This article is part five of a five part series on building a real estate website with WordPress. You can view the rest of the series by visiting our guide at the bottom of this post.

Earlier this week we talked about what an email drip campaign is and now here’s a more in-depth look at how to build one.

How Do I Set Up an Email Drip Campaign?

When building an email drip campaign you need two things:

  • Email Campaign Manager (see more below)
  • A Plan

After you choose a vendor it’s as simple as determining how many days you want between each email. How many emails do you send out and how often? Unfortunately there isn’t a one size fits all approach but general rule of thumb is to base it on how frequently you think a prospect needs to be “touched”.

For example, with website search registrations you would follow up with them by setting an intro email to send out to them immediately or, at the very most, within 1 day. Then follow up the next day with another email and a third email a couple days after.

In the pic below you can see an event template I created in Heap that links my first drip email to be sent out to a prospect within 1 day of being added.

So, what kind of campaign should you build? And, should you build just one or many campaigns for different niches?

Deciding What Kind of Email Campaign to Build

In the past I have used a single email campaign for all of my website search registrations with a fair amount of success. I opted to go with the single campaign route for two reasons: easy maintenance and because I wanted to have a drip campaign in action ASAP. From my experience I have found that most prospects typically respond to the first email or fourth email and, occasionally, an email in the 10-15th range.

Since you’re most likely just getting started, a nicely written series of short emails (all in one campaign) from you will suffice. Once you start receiving responses from prospects with questions you can use those responses to enhance your current campaign or as the basis for a niche focused drip campaign in the future.

Building a great email campaign is a matter of relevance. In other words, if you categorize your prospects well (e.g. townhouse buyers, relocation buyers etc.) you can create laser focused campaigns that delivers messages relevant to that prospect’s moving situation thus making them more likely to respond.

Personalizing Your Email Drip Campaign(s)

Mail merge is a feature that allows you to insert a variable into your email (e.g. [Prospect Name] which will pull your prospect’s name from a database and insert it automatically before sending) so each of your emails are personalized. Variables also allow you to change specific data like your phone number or email address without having to go through every email and change it manually.

Here’s an example of an email I wrote with variables in place (the CRM in the pic below is Heap):

Here’s what your prospect sees when they receive your email:

All the variables from the first email look flawless in the prospect’s version. Okay, everything except the “Talk with you soon,” double entry. :) That’s a good reason to sign yourself up for your drip campaign so you can catch any oversights before it hits a potential client’s inbox.

In the above example I used Heap CRM to send out my drip email. There are a number of companies to consider which are reviewed in detail below.

What is an Email Campaign Manager?

An email campaign manager is a web-based company that will coordinate your drip campaigns, handle unsubscribe requests from prospects who are no longer interested in receiving your emails and ensure your email address stays off ISP spam lists.

The benefit of an email campaign manager is in spam/ISP management. When you’re busy listing homes for sale or working with 5+ buyers it can be easy to forget to remove a prospect from your email campaign.

Email management companies automate this entire process for you by no longer sending emails to prospects that opt out. They also make sure email providers like AOL and Yahoo! don’t blacklist your email campaigns. If that happens all of your drip emails to future prospects using their service will automatically go into junk mail which is a VERY bad thing.

Some real estate search vendors offer a drip email tool in their administrative dashboard making it very easy to distribute emails to your leads. If not, there are a few third party tools worth checking out.

Third Party Email Campaign Manager Recommendations

Heap CRM - Heap is the best all-around campaign/prospect manager. You can run email templates, event templates and keep track of prospects from one interface. At $9 per month it’s also the most cost effective implementation of the two.

The only downside I noted with Heap’s drip campaign management is the lack of unsubscribe features including instant removal once a prospect decides to opt out of your campaign. This could put you in hot water (see above) pretty quick if you’re not careful.

Heap CRM Cost: $9 per month per user.

MailChimpMailChimp scores points as the coolest looking and most fun to use email campaign manager. Not only do they keep your email delivery rate high but they also have a pretty simple interface to work with.

MailChimp’s autoresponder tool (for drip campaigns) isn’t the most intuitive that I’ve used. I have a strong preference for Heap’s tool but I appreciate the value of MailChimp’s ISP/unsubscribe management.

If you already use 37signals’ Highrise HQ you’ll be thrilled to know that MailChimp makes it easy to import your contacts from Highrise to MailChimp for drip campaigns.

MailChimp Cost: Free up to 500 subscribers. Pay-as-you-go plans offered and monthly plans from $10/month.

Aweber - Aweber is the reigning king of campaign management tools and for good reason. Setting up a drip campaign is simple and straightforward but Aweber’s integration with customer relationship managers (i.e. Heap, Highrise) is notably absent. Still, at $19/month it’s yet another affordable solution.

Aweber Cost: $19/Month and up.

If you enjoyed this post be sure to check out the rest of our Site Building 101 series below:

Site Building 101 Series:

1. Introduction to Building Your Real Estate Website With WordPress (Includes Cost Summary!)

2. Choosing a Domain Name and Web Hosting

3. Designing Your Website

4. Selecting a Great Real Estate Search Vendor

5. You’re here!

Photo Credit: jonrawlinson

This post contains affiliate links. Find out why we use affiliate links by clicking here.

Monday Q&A: What is an Email Drip Campaign?

Stepping into the second week of our Site Building 101 series, today’s Q&A is all about email drip campaigns:

Question:

“What is an email drip campaign?”

An email drip campaign is a series of automated emails that are sent to your database of leads at a pre-determined pace. For example, you can create a drip campaign that will automatically email your leads a pre-written email from you 1, 3 and 5 days after they first inquire and then once a week thereafter.

Using mail merge features you can even customize your automated emails to include your prospect’s first name and other important variables about their specific needs (i.e. homes in Warwick, NY or wherever they first started their search).

Why Should I Have an Email Drip Campaign?

The biggest reason: You’ll close a lot more prospects from your lead database than you would have without a drip campaign. This occurs because a drip campaign continues to follow up with prospects for weeks, months and years while you continue working with RWA (ready, willing and able) customers.

As an example, think of your lead database like seeds in a garden and your drip campaign is like a timed sprinkler system. Once you’ve planted the seeds you keep watering them until they mature (or in a lead’s case: when they’re ready to buy or sell) and then reap the rewards.

The key to drip campaigns is that it automates this entire growth process for you while still remaining personalized for each prospect. By doing this you’ll have a never ending supply of RWA buyers and sellers within 12 months and every month thereafter for as long as you work in real estate. Not a bad return on investment! :)

Later this week we’re going to dig deeper into how to build an email drip campaign as the final part of our Site Building 101 series.

Photo Credit: laszlo-photo

Site Building 101: Designing Your Website

This article is part three of a five part series on building a real estate website with WordPress. You can view the rest of the series by visiting the guide at the bottom of this post.

The design process is the most exciting part about building a new website. Whether you go with a free, premium or custom theme (website design), your design options are virtually limitless with WordPress. We’re going to review the pros and cons of all three aforementioned options and how/when they should be used on a real estate website.

Free WordPress Themes: No Cost

The best, most trustworthy place to find free WordPress themes are at WordPress.org’s free theme repository. Another excellent resource can be found at Smashing Magazine where they frequently offer high quality WordPress themes for free.

Pros: The themes are free, some rival premium themes in quality.

Cons: Very limited selection for business users like real estate agents. Little to no support offered if you run into problems with a theme. Many free themes require that you leave the footer links (links at the bottom of the website) intact to promote the company that created the theme for free.

Premium WordPress Themes: $60 – $100

Premium themes strike the perfect balance of being inexpensive while still maintaining the high quality standards of a custom WordPress theme. There are a growing number of niche real estate themes being offered by WordPress developers like AgentPress, Gorilla Themes’ Broker, Open House and Smooth Real Estate and Agent Theme by StudioPress.

Pros: Nominal cost for a high quality WordPress theme (many with options tailored towards real estate agents) that offers web-based support to help you get up and running. Most theme licenses allow you to remove footer links making your website look much more professional. Multiple color schemes in some themes helps keep your website looking unique.

Cons: Minimal cost for a theme could lead to other agents in your marketplace using the same design for their website. Some premium themes still require more customization after purchase to make it match your brand/style.

Custom WordPress Themes: $2,000+

Custom WordPress themes are the crème de la crème of website design. Most agents and independent brokerages would be wise to start off with a premium theme and build out your web presence first before pursuing a custom website. Medium to large brokerages and top producers who insist on one-of-a-kind branding and website styling are better suited to custom design.

Pros: Totally unique website design which is great for brand identity. Custom features can be added to your site like an integrated listing search system and enhanced photo galleries for your listings.

Cons: Significantly more expensive than a do-it yourself premium theme. May come with pricey monthly or yearly maintenance costs.

If a custom website design sounds ideal check out Real Estate Webmasters and Dakno. Both are leading real estate website design firms used by top agents like Jim Olenbush and Kevin Tomlinson.

For brokers and agents who love the cost of premium themes but want a more custom look for their site there is a hybrid option: purchase a premium WordPress theme and then hire a designer to modify it to your specifications.

You really can’t go wrong with a premium WordPress theme or, if your budget allows, a custom website. Once you decide on which path to take there are a couple tips to keep in mind:

1. Use caution with free themes. - Most free themes aren’t really sufficient for use on a business website. This is mostly because free themes tend to be poorly designed or offer little to no support. I would only recommend using a free WordPress theme if it’s of very high quality and is from a trustworthy source (WordPress.org).

2. Know what you’re getting BEFORE you buy. - Find out how the product/service provider will answer your support questions before purchasing their product. Also, don’t be afraid to spend an inordinate amount of time playing with a theme to make sure it’s the right design for you.

If you enjoyed this post be sure to check out the rest of our Site Building 101 series below:

Site Building 101 Series:

1. Introduction to Building Your Real Estate Website With WordPress (Includes Cost Summary!)

2. Choosing a Domain Name and Web Hosting

3. You’re here!

4. Selecting a Great Real Estate Search Vendor

5. How to Build an Email Drip Campaign

Photo Credit: Torley

This post contains affiliate links. Find out why we use affiliate links by clicking here.

Site Building 101: Choosing a Domain and Web Hosting

This article is part two of a five part series on building a real estate website with WordPress. You can view the rest of the series by visiting the guide at the bottom of this post.

Today we’re going to touch on the two most important parts of a website: its domain name (i.e. www.yoursite.com) and the web host you choose to deliver your site to visitors.

Domain Name

Your domain name represents your business brand so the bulk of your time building a website should be spent deciding on what you want your domain name to be and what kind of content you’re going to have on your site. Most obvious domain name choices (i.e. MadisonWIrealestate.com) will be taken already so you’re going to have to get creative. Here are three tips to help you create a memorable domain name:

1. Make sure your domain name is short and easy to remember. - When I created my first real estate site it was http://www.realestateinthenycsuburbs.com. Wha? Exactly. Too wordy and not easy to remember. Although a bit more abstract, http://www.housemeetsowner.com is shorter and much easier to remember. It also builds helps build my brand should I ever opt to create an independent brokerage.

2. Don’t use your name or something that can’t be sold in the future. - This is a personal preference but I think it’s short sighted to build a web presence using yourname.com. If you ever wanted to sell or lease your real estate business/assets in the future it’ll be very hard to rebrand your site from yourname.com to the new owner’s name.

I like Sue Adler’s approach to her newest site, http://www.njexperts.com, because it has a lot of flexibility and can be resold to any brokerage/agent in the state of NJ should she relocate in the future.

3. Skip connector words that are easy to leave out and hyphens (example: in, the, and). - When you compare www.realestateinthenycsuburbs.com to www.housemeetsowner.com you can see how memorability changes between the two. The connector words like “in the” aren’t as easily remembered and more apt to be left out. Ideal domain names are three to four words, maximum.

Where to register domain names: I have a strong preference for GoDaddy.com when it comes to domain purchasing and management for two reasons: GoDaddy is one of the leading domain registrars in the world so you know they’re trustworthy and they have a user friendly interface to manage your domain names. All of my domains are registered and managed through GoDaddy.com.

Web Hosting

Choosing a web host, the company that serves your website to visitors when they visit your domain name, is the most important part of building your website. A reliable web host will ensure your website is up and running 99.9% of the time meaning you maximize the potential of converting visitors to leads.

Not all web hosts are created equally. I moved from three previous hosting companies before finally settling at Dreamhost which I’m quite satisfied with.

The top three things to look for in a web host are:

1. Excellent uptime and reliability (99.9% minimum).

2. Even better customer service. – Send in a few questions to the sales department via email and see how long they take to respond. This is a better way of gauging customer service because Googling reviews of hosting companies tends to lead to unscrupulous affiliate websites with fake reviews and recommendations.

3. Easy to use control panel. – Most hosting companies use cPanel which is pretty decent. Dreamhost has a custom control panel that I find to be a bit nicer and easier to use when it comes to things like one-click WordPress installs and creating website email accounts.

All of the popular hosting companies offer some type of unlimited hosting or similar that’ll suit the needs of most real estate sites.

Hosting Recommendations

GoDaddy.com - I’ve used GoDaddy in the past and their hosting is a great value at $5.59/month but their server PHP was still at 4.3 while every other host used PHP 5 and I didn’t love their customer support as a more advanced user. If you don’t know or care about PHP then GoDaddy should be fine.

GoDaddy is the best choice for absolute beginners because you won’t have to change your website’s name servers and you can manage your website all from GoDaddy’s control panel. You can get a 1-year domain registration for $1.99 if you buy it with a GoDaddy hosting plan.

Dreamhost - Dreamhost is my favorite web host because their customer support is amazing (most hosting companies won’t advise you on issues with WordPress, Dreamhost will) and they have the best dashboard for website management. Combine their excellent customer support with frequently updated servers and a nice dashboard and you can see why I prefer the service. Dreamhost web hosting starts at $5.95/month.

Money Saving Tip: OnlineRealEstate101.com readers can save 20% off a yearly hosting plan with Dreamhost by using promo code ORE20OFF.

Click here to learn more about Dreamhost.

If you enjoyed this post be sure to check out the rest of our Site Building 101 series below:

Site Building 101 Series:

1. Introduction to Building Your Real Estate Website With WordPress (Includes Cost Summary!)

2. You’re here!

3. Designing Your Website

4. Selecting a Great Real Estate Search Vendor

5. How to Build an Email Drip Campaign

Photo Credit: Jamison_Judd

This post contains affiliate links. Find out why we use affiliate links by clicking here.

Monday Q&A: How Much Does It Cost To Build a Real Estate Site With WordPress?

Today’s Q&A launches our first post series: Site Building 101. The five part series (including this article) runs through the basics of building a site using WordPress including choosing a domain name and web hosting, designing your website, selecting a great real estate search vendor and creating an email drip campaign.

Question:

“How much does it cost to build a real estate website with WordPress?”

Answer:

When building a website for real estate you have two types of cost: fixed and variable.

Your fixed costs are:

  • Domain Name (i.e. yoursite.com)
  • Website Hosting (Serves your website to people who visit your domain name)
  • Email Drip Campaign Marketing Service
  • Real Estate Search Vendor

Your variable costs are:

  • Website Design and Maintenance (varies by skill level)
  • Website Marketing and SEO

Eventually your website hosting and email marketing service might become variable costs after you reach a certain growth point and need to move up to more expensive plans. For a brand new site or one that doesn’t get 30,000+ visitors per month the upcoming hosting plans will be perfect.

So, how much does it all cost?

Domain Name – $10.69 or $1.99 with hosting at GoDaddy.com

Website Hosting – $5.59/month at GoDaddy.com to $8.95/month at Dreamhost (we use Dreamhost for ORE101).

Website Design - Premium WordPress Theme – $60 to $100

Email Marketing Company – $19/month at Aweber

Real Estate Search Vendor – $25/month to $60/month+

Total Cost For First Year - $670 – $1,166

For first time website creators that might seem like a bit much. The bulk of your cost is going to come from having a real estate search (aka IDX) on your website but that’s also going to be your biggest lead generator so it’s absolutely necessary.

Also, when compared to a custom website, which typically run $5,000 – $10,000, a WordPress site is an inexpensive lead generating machine. If a custom website is something you’re considering for the future I recommend building a WordPress site for now and then, once you are well established online, invest in a top tier website.

Over the course of the next two weeks we’ll dig deeper into each of the costs associated with building a successful real estate website.

Check out our entire Site Building 101 series using the guide below:

Site Building 101 Series:

1. You’re here!

2. Choosing a Domain Name and Web Hosting

3. Designing Your Website

4. Selecting a Real Estate Search Vendor

5. How to Build an Email Drip Campaign

Photo Credit: Jakob Montrasio

This post contains affiliate links. Find out why we use affiliate links by clicking here.

See The Difference: Ground Photo vs 16-Foot Pole Photo

Earlier this week we looked at the basics of building a PAP (pole aerial photography) rig and the benefits of having PAP photos. To see just how dramatic of a difference PAP can make I took two pictures of my newest listing below.

Both photos were taken from the exact same spot on the ground so the position of the camera in relation to the house doesn’t change much but the perspective shift is like looking at a different house altogether.

Ground Level Photo

Ground Level Photo

vs

PAP Photo

PAP Photo

The above PAP photo was shot at 16 feet in the air which works well under most circumstances. Because this home sits on a hillside I wasn’t able to capture the entire house with room to spare above the third floor at 16 ft which means this home is a good candidate for 24-30 foot photography.

Though not perfect, the 16 ft perspective provides some key differences compared to the ground level photo including:

  • Better view of the home’s depth. – It looks a lot larger than the home in the ground photo because you can see more of the home.
  • The broken up road isn’t as visible in the 16 ft photo. - Shortly after these photos were taken the road was improved by one of the other homeowners. In the first photo you can clearly see a neglected road which some buyers may use as a strike against the home whereas in the 16 ft photo you get more house, less road.
  • More of the neighborhood can be seen from 16 ft up. - In the first photo it looks like the home is secluded but when you look at it from a higher perspective you can see there are homes around the property. You can also see that the backyard is fenced in which isn’t obvious in the first picture.

Have you tried PAP out yet? Post your pictures in the comments below and be sure to check out the Flickr Pole Aerial Photography group for more ideas on how to use this innovative photography method.