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HomeGain Continues to Innovate with Real Estate Agents as Their Focus
By Ryan Ward | August 21, 2008
As the real estate world continues to change, many agents are struggling to keep up with what is becoming a more and more competitive online industry and many others have already been left behind. Some companies vendors make their money piggybacking on the hard work of real estate agents by taking their hard earned listings and parlaying them into money by generating traffic and selling ads. Others, Like HomeGain, create partnerships with real estate agents.
Maybe I am somewhat biased because I am a contributor on HomeGain’s blog and I think that Louis Cammarosano happens to be an extremely intelligent businessman and someone that I respect and speak with from time to time, but, I’m also being quite honest with my assessment that of all of the vendors that we interact with as real estate professionals, HomeGain stands alone at the top at creating mutually beneficial relationships with us. HomeGain’s latest venture, Agent View is yet another example of what happens when a real estate vendor thinks of ways to improve their own business by first helping to improve the business of someone else. There is no reinventing of the wheel here. Just straight up exposure for real estate agents on a platform that is already in place and has the tools and technology necessary to do what few agents would be able to do on their own.
For some real insight into the power of Agent View and more about Louis’s background, I invite you to take a couple of minutes and read a point of view about Homegain and Agent View from Notorious R.O.B. Now, I don’t know Rob, but rarely have I come across someone who has the gift of the written word in a blog like he does. His insights and information are spectacular and the comments in the post are certainly worth taking a few minutes as well.
R.O.B., I will be reading your blog.
Topics: Marketing |
Wow, thanks for the kind words, Ryan.
Looking forward to furthering the conversation.
As you seem focused on asking the question of agent value… I was wondering what you thought about the value HomeGain provides vs. the value Keller Williams (your brand affiliation) provides. The practitioner’s point of view is always more useful than a theoretician’s.
See you around!
-rsh
Oh boy, that probably isn’t as easy to answer as one might think, but, here goes…
Together, both are better. Hey, it’s an election year. I’m trying my hand at double speak
Kidding aside, there are a few ways to look at it. From a strictly monetary perspective, it would be difficult if not impossible for me in my business model to ascertain a dollar value on any commissions that I earn that are directly related to being affiliated with KW. This would be very easy to do with business generated from HomeGain. Outside of doing a thorough follow up questionaire after a closing, asking a question about whether they used me because I was with KW or some other reason….not sure it would be possible. Also, because the vast majority of new business that I obtain comes directly from internet lead generation, my affiliation with KW vs. RE/MAX vs. iammyownbroker.com vs. HomeGain (I’m assuming that the question was posed as it relates to your discussion about HomeGain and whether they should be a more traditional broker) might be slightly different than someone who is struggling to obtain business. This of course is only one part of value and many other factors come in to play; brick and mortar or work from my living room, training, support of a broker, alliance partners such as real estate attorneys and loan officers in house at KW for quick legal questions (sometimes not so quick), the image (yes, still important to some degree in real estate)….then there is the comradery and the rest that you have in an office. Some of this is quite subjective.
Homegain on the other hand quite simply says “hey, we have leads. We have leads and we have some refined tools to help you capture those leads and convert that into a paycheck. We will get you the leads, provide you some really great tools and support and then you go convert them. That’s what we do and we are great at it.” This is a fantastic proposition for a real estate agent.
Whether you go one route or the other, it still costs money. I think it’s a personal choice.
I would say that the HomeGain way would certainly be easier for someone adept enough at handling internet business and the discipline to work even when no one is looking.
I’m not sure how clear that was for an answer, but, I wasn’t sure I actually had a good and quick one to offer.
I continue to rail against ALL lead generators. There only sole purpose is to make money on the backs of real estate agents. In nearly all cases the so called “tools” they provide are watered-down, one size fits all templates that offer some very generic attempts at customization. Each lead aggregating site is filled with ads, which consumers don’t really want or appreciate. Agents should focus on building their own personal websites and provide local expertise.
Hi Michael,
As with all things, some are better than others. HomeGain doesn’t have adds on theirs.
You see, at least in my opinion, ALL 3rd party vendors are not created equally. Yes, most are generic out of the box solutions which are not overwhelmingly helpful. Others, like HomeGain actually provide very good tools to help agents convert leads. Leads cost money whether you buy them or generate them yourself. Most will never be able to generate enough leads online themselves because of the work and skill involved in doing so.
I have no problem at giving kudos to anyone who does a superior job at what they set out to do.
[…] HomeGain Continues to Innovate with Real Estate Agents as Their Focus (The Real Estate Grapevine) […]
Thanks for the in-depth and very thoughtful reply, Ryan. FWIW, I think THAT makes for a fascinating post right there.
The thing that really strikes me about this industry — and I’m in the process of thinking through a Porter’s Five Forces analysis — is just how low the barrier to entry is.
I’m just trying to understand fully what it is that a brand (like KW) or a big brokerage (like CB United) provides its agents. Then comparing that basket of services to the basket of services that the new generation of companies, such as HomeGain or Zillow or Trulia, provide to their “members”.
My theory — which may be dead wrong, of course — is that the Real Estate 2.0 companies do not disintermediate the agent; they do disintermediate the BRAND, then the BROKER.
Controversial, perhaps, and every RE 2.0 company will deny that is their intent. And I don’t doubt their intent; but consequences often have very little to do with intent….
-rsh
Althought the barrier to entery is relatively low, the barrier to success is relatively high. I think a Five Forces Analysis would be interesting and I can’t say I have seen one. Anyone reading this can see what it is here.
Here is my take on your theory cut and pasted from your comment and moved around some to make my theory.
“My theory — which may be dead wrong, of course — is that consumers (for the most part) could care less - at least at first - who they are dealing with. I think it’s really just the nature of the internet. If you are looking for information, the BRAND is Google. - this would be a good post in my opinion. - Furthermore, the Real Estate 2.0 companies (and 1.0 companies, since many still do a great job of giving consumers what they want to see - houses) for that matter, do not disintermediate the agent; they do disintermediate the BRAND, AND the BROKER.”
In my opinion, no big company really provides any value to agents. We are affiliated with RE/MAX, but the vast majority of the so-called tools they provide are for agents that are in the lower tiers - those that do not have marketing skills of their own. For more professional, professionals, custom created solutions are still the best. When it comes to corporate websites and the leads generated from them - Please! The results are so poor that if you depended upon them for you business, you would be out-of-business. That is why I continue to belief that individual agents must FIGHT for their own online space! Maybe companies such as Home Gain might (and that’s a big might) have agents interests at heart, but I am jaded.
Ryan,
I have not looked at Homegain’s website in years. I recently just realized that they have a blog. They kind of annoyed me like 5 years ago with their constant calls to get me to buy leads. I will lose the attitude and check our their site more thoroughly.