CRE Podcasts

Introducing the CRE Podcasts Directory

 26th August 2017    David

According to the Microfocus blog, more than four million hours of video is posted to YouTube each day. There are billions of Facebook, Instagram, Snapchat and Twitter posts every day. There are more than six billion Google searches every day, too. There are at least 250,000 podcasts out there. Marketing expert Mark Schaeffer writes often about “content shock,” the phenomenon where content creation vastly exceeds our capacity to consume it. He contends that the only way to get someone to consume your content is to actually pay for them to do it. To get your content noticed, you’ll need to take out ads on Facebook, LinkedIn or wherever you think your audience is.

As commercial real estate professionals, it’s important that we continue to learn about our industry. In order to help cut through the content shock, we just introduced a new website, CREpodcasts.com. The goal is to create a comprehensive directory of CRE podcasts and video channels, making it easier for you to find relevant content. Right now, it is little more than a listing of about seventy podcasts and video channels. Users can make moderated comments, and over time we’ll make suggestions and comments of our own. It is very much a work in progress, so we can use your help in bringing our attention to the podcasts and videos you listen to or watch. And we’re open to suggestions on how to make it more useful to you.

For now, we are hosting it outside of QuantumListing.com, but may at some future point host it within. Since we are in the process of rebuilding QuantumListing, I didn’t want to force scope creep on the tech team. Additionally, this will allow the directory to become what it wants to be. Will there be a meritocracy, where the better content rises to the top? Will we introduce paid placement? I’m not sure yet. First we have to get eyeballs here.

If you’re thinking about starting your own podcast and are wondering about who the current audience is, check out THIS article.

Please have a look at CREpodcasts.com and if you don’t see your podcast or video channel listed yet, or have suggestions on ones to add, send an email to CREpodcasts@quantumlisting.com or fill out the form below.

Summertime

Summertime, and the Listin’ Is Easy

 15th August 2017    David_Perlmutter

Summertime, and the listin’ is easy,* or really just easier, but that doesn’t scan as well. I’ll explain. When you sign up for a free trial individual user Premium Membership to QuantumListing, we’ll add your first listing for you.  And we are happy to add more, but we want you to have a little skin in the game, too, and really it is just a little. Right now, you are saying, huh? Have a look at the chart below.

screen-shot-2017-08-15-at-7-46-34-am

 

 

 

 

 

Let’s say you have twelve listings, and you want us to add them for you. First, you register for QuantumListing, and then you are sent to your profile page. On the left side of the page, you’ll see the number of days left in your Premium Membership. Click on the number and you’ll go to a page with payment plan options. In this example, you’ll click on the 3 month/$24.99 option and then the Create Order button. This will bring you to the payment page. Click on the PayPal button to securely complete your transaction with PayPal or your credit card.

If you are doing the free three month trial membership, all you have to do is send your listing flyer or information sheet to info@quantumlisting.com with the words “Please add this” in the subject line and we’ll take care of it (send us your password, or we’ll give you a new one which you can change when we are done adding your listing or listings). If you choose one of the other membership options, we’ll give you a call to discuss adding your listings.

That’s it! Sounds easy, right?

 

*Sorry about that, Ira Gershwin.

Happy Anniversary

Happy Anniversary, QuantumListing

 9th August 2017    David_Perlmutter

image-1Happy anniversary, QuantumListing. I can’t believe it has been two years since the QuantumListing iOS app launched on the iTunes store. At the time, I issued a press release. In it, I am quoted as saying, “This app resulted from a need I perceived in the real estate market – access to listings when I’m out on the road – and sufficient technological evolution to satisfy that need in a cost effective manner. When I started as a real estate salesperson in the mid 1980’s, the fax machine was an expensive novelty, which then evolved into a inexpensive commodity. I was the first person at the place I worked to use a personal computer. I’ve run an independent real estate brokerage company since 1989 and have always used new technologies to be competitive and offer services locally on a par with the large national companies. As a result of the consolidation in the real estate information sector, information service pricing is spiraling out of control. As a result of the high prices, those companies often seem more like acerbic partners than service providers. They are rich data sources, but too often, most of that information is not required on a day to day basis, and to use their mobile solutions, users have to pay an even higher premium. Our goal is to provide the information people really need, where they need it, at an extremely cost effective price. Today’s smartphone and cloud technology gives agents and owners the perfect tools to accomplish this goal.” All of this is still true. QuantumListing has evolved since then, with its website becoming equally important as the iPhone and Android apps.

As I look back over the last two years, I am grateful to all of thousands of people that have made QuantumListing part of their work lives, either as members, searchers, ambassadors, advisors, or friends. Thank you. Knowing there are so many people pulling for your success makes the investment of time and money worth it. I will confess that I thought it would be easier to get people to add QuantumListing to their workflow. I thought the combination of convenience, features and value would have users swarming to join from Day 1. It’s more like a steady trickle. Considering that we’re up against an entrenched behemoth that spends untold millions on marketing versus our pretty much non-existent marketing budget, a steady trickle is reasonable. At my brokerage, I received a marketing package from LoopNet and CoStar last week (and I’m already a customer), delivered by FedEx. Inside it was a box with a bubble wrapped envelope and inside that was another box, that when opened, revealed a video screen that automatically started playing a commercial for CoStar and LoopNet. I have to think that they spent more on producing the three videos that the player contained than has been spent on the entire development of QuantumListing. If I were thinner skinned, I would be intimidated by that, and of course by their seemingly unlimited legal budget…

Having been a commercial broker for thirty years, though, I’ve learned a lot about perseverance. Early on in my career, I spent two years calling the in-house real estate rep (shout out to Sey Young!)  from Walmart to get him to visit the site that I was working on for a developer. Finally, he came and we made the deal, although ultimately the center never got built. Experience teaches you how to deal with disappointment, too!

But, I digress. Working on QuantumListing is exciting every day. It reminds me of my experiences developing shopping centers as much as my brokerage business. Outside professionals are an integral part of making the vision a reality. Instead of architects, engineers and lawyers, though it is  designers and a technical team. The one constant is money! You start out investing your own money, and then bring in outside equity and/or debt.

It took six years from concept to construction completion for my development partnership, DKH, to redevelop the Ridgeway Shopping Center in Stamford, CT. There were an incredible number of moving parts, existing tenants, future tenants, partners and professionals. It was as great a concept when it was built as it was when we conceived the project. And more than twenty-five years after we started the project, it is still an incredibly vibrant community center in the hands of its current owner, with the same anchor tenants as when it was built. I have the same level of confidence in QuantumListing that I had in Ridgeway. I know it is going to take time, effort, money, and a great team. The concept is sound, and it is getting enriched as we keep going and add more people to the team and incorporate their ideas.

It won’t be long before the new version of the website is available, and a new version of the iOS app. Concurrent with the new version of the website is a new module which will I think be quite different from anything on the market today, and has the potential to further differentiate QuantumListing from other offerings in the listing service market. Sorry to be so vague, but you’ll just have to be a little patient!

I’ve learned a lot in the last two years, and I’ve met an incredible array of people. I can’t wait to see where we’ll be two years from now. Hopefully, you’ll still be on this journey with me.

 

Barrier

What is the greatest barrier to trying a new commercial real estate listing service?

 2nd August 2017    David_Perlmutter

We understand that people are reluctant to try new real estate technology, and we want to understand better what those reasons are. That’s why we conducted the following poll, “What is the greatest barrier to trying a new commercial real estate listing service?” The results were quite interesting. Only 24% of the respondents said that their greatest barrier was that they were happy with their existing service. That’s hardly an enthusiastic endorsement for the market leaders.

The largest cohort, 48%, responded that they did not try new a new listing service because of the expense. Another 15% felt that the time to add listings was what’s holding them back from trying a different service. 13% answered Other, but did not specify what in reply comments.

 

 

At QuantumListing, we’re trying to remove the friction points for people to try our service. First, we give a three month trial to new users, and after that, we offer several low cost Premium Membership options for individual users and enterprises. Premium Membership comes with an incredible array of features, and it’s all for the same price. We don’t ask you for your payment information up front, so there is no automatic charge if you don’t opt out. You have to opt in to remain a Premium Member. If you don’t want to add listings, it is free to search all of our users’ listings nationwide.

In order to help prospective users with the other pain point mentioned in the poll, the time to enter their listings, we’ve got a solution for that as well. We’ve started offering users “white glove” set up, where we’ll enter your listings for you. However, even if you add your listings yourself, it does not take much time. Yesterday, we timed Eli the Intern as he added a listing on the QuantumListing.com website. It took him one minute and fifteen seconds to add a listing. This was the fourth listing that Eli added, so he knew what he was doing. He’s also competitive and wanted to put up a good time. Nonetheless, it gives you a good sense of how fast and easy it is.

Ideally, we prefer that you pay for a year’s Premium Membership for us to do the white glove set up, and since we offer all new members three free months, it would give you fifteen months of membership. In this particular case, though, we decided to give this user (actually three users at the same brokerage) white glove set up because we had an interesting conversation with him. This company is situated in Rockland County, NY and are members of the Hudson Gateway Association  of Realtors (HGAR). He puts his commercial listings on HGAR MLS site. He feels that the MLS has one thing going for it that other listing services (including QuantumListing) don’t. They require that the brokers send a signed exclusive agency agreement (and extensions if/when applicable) before they’ll permit a listing on their site. As a result, the information is more accurate and reliable. All of the commercial listing services have bad information of one kind or another, either naming an agent who isn’t the current exclusive agent, or having a property that is no longer available. I wrote about this issue back in November of 2015 in a post, The Fallacy of Accurate Information Services.

One of our objectives at QuantumListing is to keep the cost of Premium Membership low. We don’t have the infrastructure in place to review listing agreements for each of our users’ listings, and since that is not the current standard in commercial real estate, I think there would likely be substantial resistance to requiring that. We are working on a new module that will help with the issue and accelerate user acquisition but I prefer not to discuss it until it’s ready, which will be quite soon.

So, what should be your takeaways from this post? 1) Not many people are happy with their commercial listing services, but don’t want to change because of the expense and time required to change. 2) QuantumListing can alleviate those two pain points. 3) We have something in the works that is really exciting!

QuantumListing is the new crowd-sourced real estate listing platform for commercial real estate agents, owner and tenants