Round Home Prices In A Square Mind?
I found an interesting article on setting home prices. The article was written by Cornell University's Manoj Thomas and his colleagues. It can be found at the following location http://www.theatlantic.com/doc/200801/primarysources/2 A piece of the article is below.
Their research shows that having round numbers at end of an asking price, will bring a lower sale price. Maybe it is time to rethink the "traditional" method of pricing homes. $209,900, $335,500, $569,500 and so on. I got to thinking about this and looked through my local paper and almost every listing I could find had a round number at the end. Maybe there is a physiological effect, but I think having a different price that stands out compared to others will help get the home noticed in advertising. May want to give it a try? Let's be clear, if the home is overpriced, different pricing strategies are not going to make a difference.
If you want to save money, don't count the pennies: they may be just a ruse to distract you from the higher number on the other side of the decimal point. A recent paper suggests that because we tend to use precise numbers for small amounts and round numbers (lots of zeros) for large ones, sellers can make buyers perceive a price as smaller than it is by replacing zeros with other digits. The authors showed their subjects a listing for a house along with various prices, and asked whether those prices seemed high or low. Precise prices like $391,534 were seen as cheaper than round ones like $390,000, even though the round prices were actually lower. The authors then examined more than 27,000 real-estate transactions on Long Island and in South Florida and discovered the same effect at work in real-life deals. In South Florida, having at least one zero at the end of the list price lowered the final sale price by about 0.72 percent compared with houses listed at a similar price, three zeros lowered it by 0.73 percent, and each additional zero lowered it another 0.39 percent. (The effect was slightly less pronounced on Long Island.) While seemingly small, this effect can add up to thousands of dollars.
Google info on Auto Pilot!
If you don't have Google Alerts set up, you need to! This is a very useful tool and it's free! Google alerts will automatically search/scan the web for new items posted on any topic you choose. For example, you can set up an alert to let you know when anything is posted on the topic of Real Estate. After the alert is set up, anytime a news story, blog post, web site, or anything related to "real estate" is posted on the web you will be notified. You can set up alerts for any topics or key words you choose. This tool will assist you in keeping track of local markets, builders, mortgage issues, interest rates, competition, anything!
The Google Alerts can be set up to notify you as it happens, once a day, or once a week. Make sure when you set up your alerts, you are a specific as possible. This will reduce the number of alerts on topics that don't apply. For example, you may want to set up an alert for Reno NV real estate instead of just Real Estate. This will filter out many of the national and international real estate stories you may get sent.
The only thing you need to get started is a Google account. Guess what, the Google account is free as well! You can start with one or two alerts and add more as desired. I currently have at least 25-30 alerts set up. This automatically searches topics I am interested in and delivers the newest, latest, and greatest on the topic to my inbox on a daily basis. Now that is info on auto pilot !
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MicroTrends---What is the next trend?

Ok I have posted a few classics, now a newer book. Micortrends by Mark J Penn. I just got done reading this book and enjoyed it. I'm a bit of a numbers guy so I was captivated. This is a great book for Real Estate professionals because many evolving trends and niche markets are outlined. The book can be a bit dry at times but over all was excellent. Well worth the time to read
A Classic -- Think and Rich

This is a classic that should be is everyone's collection. Think and Grow Rich by Napoleon Hill . The title speaks for itself. I had to post some of the classics.
Blogging--How Long Is Your Tail?
Below is an interesting presentation about blogging. The video talks about strategies for developing your blog, and the importance of having a plan. What are you trying to accomplish, who are you trying to attract to your blog and once they are there will they come back?
The Secret --
The first post for books to read is The Secret by Rhonda Byrne. A great read to bring some focus and direction to your life and business. I get distracted by all the "noise" in the world. TV, Radio, Websites, and newspapers are constantly pounding us with toxic messages and negativity. Focusing on positive, empowering, and creative thoughts will change your perspective.
Social Networking -- Do's and Don't
Below is an article I came across quite a while ago. Social networking can be a very powerful tool for building your business both online and off. I keep this handy and review it every once in a while, thought I would share with you.
To believers, social networking sites like News Corp.'s (NWS) MySpace are powerful tools for building awareness, strengthening customer loyalty, and driving sales. Skeptics scoff that with free advertising, you get what you pay for. What both sides sometimes miss is that online social networking-like networking in the real world-is all about giving, not taking (see BusinessWeek.com, 3/26/07, "Network like an Entrepreneur"). We rounded up a slew of experts to share online networking best practices and common mistakes to avoid. Their top eight tips follow.
1. Forget the hard sell. Communications consultant Olivia Fox Cabane says that trying to sell your products, services, or yourself when you first meet someone is the fastest way to ruin a networking relationship before it begins. Instead, she suggests using your own tools and expertise to give something to the other person. On MySpace, too, the most successful businesses are ones that know how to give, whether it's a downloadable screensaver, a chef's exclusive recipes, or a roundup of upcoming local events. "This isn't a direct marketing tool, this is human communication," says Rob Key, chief executive officer of social marketing firm Converseon. "You don't have to beat people over the head."
2. Do your homework. Showing up in flip-flops at a white-tie event is no way to make a good impression. Even when properly attired, attending an event without researching the potential attendees is a waste of time, says Cabane. Online, your virtual behavior and dress is just as important. Online communities like MySpace, Google's (GOOG) YouTube, or Second Life have their own cultures, rules, and social mores that business people disrespect at their peril. Key recommends spending a few weeks experiencing a social networking site as a user before charging in with your business. "You don't want to be like those 45-year-olds hanging out at spring break," Key says.
3. Focus on a few contacts. Collecting a thick stack of business cards may make you feel important, but it's not a very good way to glean useful contacts. Similarly, sending out flurries of MySpace friend requests probably isn't an efficient use of your time. Instead, Key says, focus on the quality of what you're providing. "If you're giving useful information to the community, you will get friends," he says.
4. Listen before you speak. Networking is a two-way conversation, so be prepared to interact. Beware of being the cocktail party equivalent of the bore who only talks about himself.
5. Authenticity counts. While a phony smile might get a few rolled eyes at a networking event, being reported as a spammer on MySpace can get you kicked off for good. And whether online or in-person, being uncovered as a fraud can trigger a damaging backlash.
6. Be engaging. Talking about the weather is no way to impress, and neither is the same old song and dance. Use your MySpace page to show off the persona of your business, and be sure to refresh your content regularly.
7. Always follow up. Establishing a new connection doesn't end when the party's over, and successful online social networking requires offline connections, too. Integration is key, says Linda Zimmer, president and CEO of social media consultancy MarCom:Interactive. For maximum impact, your MySpace address should be visible on your other printed materials, your Web site, and in your physical storefront, in order to "close the loop."
8. Think long term. Approaching a networking event with the expectation of leaving with a new contract or job offer is missing the point, and so is looking to MySpace for immediate results. "You need to give something to the community before you start looking for an ROI [return on investment]," says Key of Converseon. Although many businesses see a MySpace profile as a free virtual billboard, Rex Briggs, CEO of Marketing Evolution, a marketing ROI measurement firm, says that community outreach programs make for a better analogy. Giving back to the community has long-term value, even if it doesn't show up on today's balance sheet.
The Future of Real Estate Blogging
Below is a video of a presentation done at the Inman Connect Conference. If you are thinking about starting a blogging, have a blog, or are just curious what is going on with blogging this is an interesting video to watch.
New Ihouse Layouts-- Red Swoosh
Ihouse has recently added two new layouts for Assist2Sell. Layouts are the look and feel of the pages of your site. The banner at the top of the page, colors, buttons, etc..
The new layouts are deigned to look and feel similar to our new corporate web site.
Below are instructions for updating/changing your layout.
Log into your web site, on the main menu click appearance.
Then click layouts
Under theme choose -- classic
Under layout select -- New layouts
Under style choose-- Assist2sell-company 1 (without a house background) or Assist2Sell-company2 (with house background)
Note: Assist2sell-company1 layout has blue sky in the background Assist2Sell-company2 layout has blue sky with a house.
The order and category of your navigation buttons on the left side of your side may change when you change the layout. Make a note or print out the order and categories before you change the layout.
Infomercial Video On Your Website for Free!
We have created a generic and abbreviated version of the infomercial for you to display on your website. Generic meaning anyone can use it as it does not have a specific fee mentioned, it says one low flat fee and there is no specific domain name, it refers to Assist2Sell.com. The video is currently on YouTube.com and you can display (embed) the video on your web site for free. Visitors will see the video screen and all they need to do is press play to watch. You can see what it looks like at http://www.4renohomes.com/
I have created a "how to" video (link below) that will walk you through posting this on the home page of your Ihouse site. It is very easy. Click Here To Watch How To Video You will need the following text (HTML Script) available when you are ready to post the video.
Please watch the video before posting!
#<object width="325" height="255"><param name="movie" value="http://www.youtube.com/v/0vmYxOvmnL8&rel=1%22%3E%3C/param%3E%3Cparam name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/0vmYxOvmnL8&rel=1" type="application/x-shockwave-flash" wmode="transparent" width="325" height="255"></embed></object>
Please note: You will need to copy and paste the entire text above or the video will not display properly.