Famous Agents, We Need Your Help!

Hello,

First off, I would like to introduce myself and my company to FamousAgents. My name is Jake, and I am a licensed agent in Scottsdale, AZ. We have recently launched a new business venture - and we would love to collect feedback from tech-savvy agents!

On October 3rd, 2006, we released the public beta version of BuyerHunt.com. It is our contribution to the latest wave of Real Estate 2.0 sites, with a new spin. Rather than building a database of properties that can be searched by potential buyers, BuyerHunt allows buyer agents to post profiles that detail their clients' purchasing interests.

Agents with buyers can benefit by 1) Saving time by allowing listing agents and sellers to shoulder some of the responsibility of the search, and 2) Seeing and showing homes for sale that they never would otherwise.

We are in the process of developing a version of BuyerHunt to function within offices. BuyerHunt Brokerage Edition will allow agents to post their clients profiles on a local intranet so that their colleagues will be able to easily browse and identify possible buyers within their brokerage for new listings or previewed properties.

Last week, we were selected by Inman News as one of four "Best New Web Ideas of 2007" and have been asked to speak at Inman's "Connect" conference this January in New York City.

We are continuing to incorporate agent feedback to make the site even more user-friendly and applicable to real estate agents nationwide.

Please contact me with any questions or comments - I hope to hear from you!

Best,

- Jake
jake@buyerhunt.com

[ChicagoDrew]

I think I saw this an article about your site before. Why would we as REALTORS put our buyers info on a database to be scrounged by sellers. Although we sell property what we really do is provide and disseminate information. Our list of clients is our business. Isn't that what the MLS is for??? I would never let a buyer client enter info or enter it my self. Also this will lead to more FSBO thus less money for us. I don't see this working at all, well maybe some really stupid agents might use. But all this does is remove the agent one more step out of the picture.

Originally Posted by ChicagoDrew I think I saw this an article about your site before. Why would we as REALTORS put our buyers info on a database to be scrounged by sellers. Although we sell property what we really do is provide and disseminate information. Our list of clients is our business. Isn't that what the MLS is for??? I would never let a buyer client enter info or enter it my self. Also this will lead to more FSBO thus less money for us. I don't see this working at all, well maybe some really stupid agents might use. But all this does is remove the agent one more step out of the picture.

This is a common misconception about the site: sellers are not able to contact your buyers. Agents don't enter any contact information whatsoever for their buyers, not even a name. You, the agent, are able to post with a profile what your client is looking for (i.e. location, price range, special features, etc.) and an interested seller or listing agent can then send a flyer to you directly, not to your client.

[ChicagoDrew]

Ok but a seller can still contact you about the profile of your buyer, so that means a FSBO?? Which will still lead to less listings taken by agents. Or am I wrong about the sellers send you flyers comment?

You are right about the fact that FSBO's will be using the site, but wrong in your assumption that less people will be inclined to list with agents as a result. Brokerages that we have already aligned with have found that maybe the greatest value of the site is that it allows them to make appointments with FSBO's, which in many cases amounts to listings.

People that sell "By Owner" don't use Realtors because they don't recognize the value that a Realtor brings to a potential transaction. By communicating with these sellers and meeting them face-to-face, effective agents will be able to demonstrate the services, legal protection, and, most importantly, buyers that they can bring to the table. We've had overwhelmingly positive feedback from agents that have used the site for that exact reason: they have not only found homes for their buyers, but been able to generate listings from FSBO's.

Just wanted to chime in on the issue. A couple of the agents (including myself) in my office started using buyerhunt a couple weeks ago. I have already been contacted by 4 unlisted sellers. Not only did i get to show my buyers some new property that no one else had seen yet, but i also got two listing appointments out of it. It seems to me like the sellers that have contacted me intended on listing, but hadn't decided on exactly who with yet.
I had the same concerns as you Drew, but have been pleasantly surprised. I'll keep you guys informed of how the listing appointments go later this week.

Regards, Selling Scottsdale

[Andrea Messenger]

Hey Jake-

Thanks for the info on the new BuyerHunt idea. And thanks for everyone's questions and input. I checked out the website (beta site) and it looks interesting. Almost like a reverse MLS database.

How will its costs be supported? Will there be advertisements on the site or charges for certain features?

Sounds like another possibility for agents to find leads. Tell us a little more about exactly how a REALTOR obtains the leads.

Thanks!

Hey Andrea,

As for monetizing/advertising on the site, that is a bridge we will cross when we get to it. For now, we are focused on developing the Brokerage Edition that I mentioned in my first post. Once we decide what features to include and their potential value to agents, we will assess pricing for a premium membership model.

And you are right that it is something of a lead generator, only in a non-traditional way. As an agent, the best way to generate leads from BuyerHunt is by simply using the site - create profiles for your buyers and let sellers send you flyers, and make flyers for your listings and send them out to potential buyers. No matter how you spin it, it will give agents a way to get in front of people more often and give them the chance to showcase what they have to offer, for free.

Best,

- Jake

[Andrea Messenger]

Thanks for the details, Jake.

It's always good to find extra marketing ideas that REALTORS can do for little or no cost. Every little bit helps!