I was recently asked by a client to write a blog post about the advantages of using interactive infographics instead of static monthly reports.  Given that there's nothing client-specific about what I wrote, I thought it was good information to share to a wider audience. So this is what I wrote...

             Have you ever heard the phrase “data is the new currency?”  In terms of real estate, that concept is more important now than ever.  As agents are being forced to show their value to the consumer, the power of data will give them the upper hand.  And having the most current, reliable market statistics in an easy-to-use, interactive platform is the key to accessing that power.

            But what does “interactive” mean?  An interactive platform obtains data or commands from a user and gives immediate results or updated information.  In the Domus Analytics dashboards, those “commands” are the filters chosen by the user to show the performance of a specific housing market.  The market in question can be as simple as a geographic area, or as complex as homes of a certain size built in a distinct time period on the waterfront within a limited price range, for example.  An agent looking for the simple market described might be able to find a static report with that information.  But as soon as their client wants to dive into the more complex market, that requires engagement with an interactive platform.  With 12 standard filters, over 2 dozen metrics, and 5 different chart types in Market Insights, there are so many permutations of analysis available that there’s no way a static report can compete.

We've been a vendor in the real estate industry for over a decade now.  We serve groups across the country, from individual agents up to the large Associations and MLSs.  Other than our unnatural love for Open Houses, this past summer was the first opportunity we've had to experience being on the client side of real estate since we bought our own house almost 20 years ago.  

Last summer, we commenced the process of selling my in-law's home in Pennsylvania.  It was a small house they built in the 80's, and spent most every summer there for the past several decades.  The description on the flyer called it "cute as a button", and it was.  It had a very cabin-like feel.  But it hadn't been updated since it was built.  And like many homes inhabited by elderly adults, a lot of the maintenance had been neglected.  In other words, we knew there was some work that needed to be done.  We considered selling it as-is, but decided that a small investment could do wonders and make a really nice vacation property or starter home for someone.  Plus with the market as crazy as it was, we figured we'd more than make up for it.

The biggest issue we had was that we live in Nevada, and as business owners we didn't exactly have time to manage the process ourselves from across the country.  We needed an agent who knew the area, knew all the contractors, and one who we could trust to get it all done.  That agent was Kim Mills of Coldwell Banker Realty.   If you visit Kim's webpage, her tagline is "Service...it makes The Difference!", and it perfectly describes her.  

When we chose her to list the property, we knew we had a roof leak, and we thought that was the biggest problem.  She suggested coordinating with the homeowner's insurance, and it turned out a large portion of the cost was covered.  Hooray!  We then decided to get a full inspection so we could proactively fix anything else that might prevent the house from smoothly going to close.  It went downhill from there.  There were a handful of "not-up-to-code" issues, from minor things like GFCI outlets to the major structural issue that required the second story deck to be completely rebuilt.  The roof guys removed some wallboard during their repair and discovered mold.  The septic guys discovered intrusive tree roots and we almost needed to replace the whole system.  And let's not forget about the basketball size wasp's nest inside the wall.  If you've seen the movie "The Money Pit", that was this house.  Kim was there for all of it.  Coordinating, giving suggestions, offering solutions, and just being an all-around superhero.  

I don't know what we would have done without her managing the process.   And in our opinion, she didn't make nearly enough money for the amount of time and effort she invested.  If we had to pay Kim by the hour for all the work she did, I'm certain she would have made far more than her contracted compensation.  For better or for worse, that's not how this industry works.  As her client, I'm sad that she didn't make more from our listing.  But as a business owner, referrals are gold.  So this blog and the subsequent email campaign we'll send out to the many contacts in our CRM system is our additional payment to Kim.  If we were the stats vendor in her market, we would build her a custom branded dashboard to use in her marketing, too, but this will have to do for now.

There are a lot of things changing quickly in the real estate world these days.  In a world where iBuyers and online portals are trying to disrupt and take over the industry, agents who differentiate themselves through their quality service will continue to thrive, like Kim.  

Thank you Kim.

As we approach election day, I'm not here to try to sway you politically in one direction or the other.  The majority of voters have already made up their mind anyway. What I'd like to share is what we believe is at the root of much of the divisiveness in our country today, and how that can be mitigated in the future - it's the way we vote.

The US is predominantly a 2 political party system.  The 2 main parties have won every presidential election since 1852, and controlled Congress since at least 1856.  Interestingly, the founding fathers were actually opposed to political parties, but I digress.  (Wikipedia has all the details for the super nerdy who want to read further on that.)

Let's use an example.  We're having pizza for dinner, and I want a pesto garlic alfredo ricotta sausage pizza.  My "other half" is desperate for a pineapple and Canadian bacon pizza.  You can see the problem.  We take pizza very seriously in this household, and things are about to get really heated.  So we call all our friends and ask them to weigh in on both choices, and the majority will win.  This is choice that we will forever be divided on, and the loser will be angry for a long time.  Sound familiar?  It should, because this is basically how our elections work today, often called "first past the post" or "winner-take-all" voting. 

But there's another way we can do this.  Let's say I still want my delicious pizza, and the other one still wants his weird pizza, but we'd both be okay with a pepperoni pizza. This time when we vote, we each rank our choices.  I rank my pizza #1, pepperoni pizza #2, and that other monstrosity #3.  The other member of the household ranks his pizza #1, pepperoni pizza #2, and my pizza #3.  Even though the pepperoni pizza was ranked #2 in both cases, it ended up with the majority!  Although neither one of us got our top choice, we're both happy with the outcome because we still get pizza for dinner.  See how much better that is?

Yes, I over-simplified, as there are many ways of calculating rank choice voting.  There's a lot of great info out there if you want to read more about it.  Maine will be the first state in the US to use rank choice voting in a presidential election next month, so we'll be watching them closely to see their results.  Massachusetts and Alaska have questions on their ballot this year that could move them to rank choice voting for state elections.  There are also several municipalities across the US using this system today, with more moving in that direction.  This methodology has been gaining more support over time, so you can expect to see it come up again and again.

The data supports the fact that even if you can't give everyone their first choice, there are often other options that people are okay with.  This has lead to less division and less partisanship where it's used - both things I think we all wish there was a little less of these days.

 GO VOTE!!!

We've been busy 'round these parts, as you may have guessed by our neglect of the blog.  But now that the kids are back in school (and by that I mean still at home ALL THE TIME but forced to login and learn during the day), it's quiet enough to get back to writing again.  So here I am!  And I thought I'd take this post to introduce you to the Domus APM.

What's an APM?  Imagine a fusion between an AVM and an API, and it's nothing like that. APM stands for Amy's Perfect Margarita, and I share it with you now. No copyright, no licensing fee, just your promise that you'll enjoy it.  Bonus points if you drink it with a side of chips and guacamole.

In a blender, start with 10 oz of margarita mix. We're Costco shoppers, so I use their mix.  But I haven't found a mix I don't like so whatever you have at home is probably fine.  Add 4 oz of tequila.  Again, I go with the Costco brand, but use the Anejo, not the Silver.  The Anejo is a much smoother drink, especially if you plan on doing shots occasionally.  I've tried lots of tequilas, and I always come back to this one, especially because it's such a great price.  I tried one that came in a beautiful heart shaped bottle and it was like drinking sewer water.  I really wanted to like the brand formerly owned by George Clooney, and that one disappointed as well.  But you do you, because a lot of flaws can be covered up in a mixed drink.  Add 2 oz Triple Sec.  I don't have a favorite brand, yet.  Now here's the secret, add frozen strawberries up to the top of the liquid and blend.  There's no ice to melt as you drink so it never getting watered down.  Frozen peaches also work really well.

Now that you know the secret, go forth and partake of the blended goodness, you deserve it.  And I'll likely get back to the data and chart chat next time.

We discussed.  We debated.  We flipped a coin for it and I lost won.  The decision was made that as part of our new website (YAY!), we will now be blogging.  Mostly it will be about data and analytics related stuff.  There will probably be some real estate musings in there.  And I'll admit right now that there will be weeks when I just can't get my mind off the mozarella so you may get a pizza recipe or two.  Hey, I'm from Chicago, it happens.

So my first task was to name the blog.  In keeping with our tradition, I immediately started searching for the Latin word for 'blog'.  As you can imagine, there's no direct translation.  The most interesting word I stumbled across was scriptus (‘something written’), then extending that to scriptus electronicus (‘electronic writing’) was in the lead for some time.  The challenge, of course, was just how long that darn name is.  So as I mulled over many other options, practicing my latin pronunciations out loud, Ed said "just call it be greater than average, like our pin; that's who we are".  Secretly I think he's just jealous that my foreign language accents are better than his and he wanted me to stop talking.  But here we are, with the "B>Average" blog anyway.  I hope you enjoy it.  I hope you learn something now and again. But mostly I hope I don't get any mean comments cause I'm not sure my fragile ego could take.  Nevermind, I'm turning off the comments section. Problem solved!

Now go forth and be greater.