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Stuart Siegel Photo
2/4/05 Interview with Stuart Siegel

eNeighborhoods
One Park Place Suite 450
Boca Raton, FL 33487
Biography

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eNeighborhoods in a Nutshell

  1. 1. The site is an everyday marketing solution primarily for agents, but it also has relevance for other areas of the real estate industry; the main service is managing data.
  2. 2. eNeighborhoods compiles data that agents find useful in working with consumers, such as neighborhood information about schools, demographics,pricing trends, crime rates, etc.
  3. 3. The site blends MLS data with the neighborhood information to create marketing tools and reports e.g., CMAs, buyer tours and home books;eNeighborhoods even provides web sites filled with such consumer-appealing content.
  4. 4. The primary objective is to support real estate professionals in providing stellar service; the service is not aimed directly at consumers,so agents can control use of the information to highlight positive marketing points.
Marketing Trends

  1. 1. Growth in the number of REALTORS® has made the industry very competitive; agents need to differentiate themselves and to get loyalty from their clients.
  2. 2. eNeighborhoods provides tools for agents to help maintain relationships over time with buyers and sellers they have worked with.
  3. 3. Consumers continue their quest for more and more preliminary information online; eNeighborhoods helps agents to put the capability to do home searches on agent sites and helps agents to promote their sites; having neighborhood information attached to the listing is a powerful attraction.
  4. 4. eNeighborhoods can provide agents with a web site that has IDX (InternetData Exchange) solutions so that agents can display all the MLS listings for their area and keep them refreshed.
Acquisition Strategy

  1. 1. eNeighborhoods has grown partly from internal efforts and partly through acquisitions; the acquisitions have been targeted to enhance the company's technological capability.
  2. 2. For example, Wildfire the desktop access point to MLS data for many agents was acquired from Homestore to gain a stronger link to the MLScommunity; the deal strengthened eNeighborhoods' relationship with MLSs and provided an extensive cross-marketing opportunity.
  3. 3. RE Channel was acquired to enhance web services to agents; RE Channel offers the "next generation" of web sites that incorporates CRM (customer relationship management) capabilities i.e.; sophisticated lead management built in to capture business from consumers.
Everyday Applications
  1. 1. eNeighborhoods' services impact agent business every day by touching on the different kinds of consumers agents encounter, including buyers,sellers, relocators, past customers and prospects.
  2. 2. The company helps promote an agent's site to attract prospects and then provides tools to capture leads and put them into a drip marketing campaign; information can be customized for a particular neighborhood.
  3. 3. The company has tools for agents to enhance their selling and buying presentations, such as customized valuations for sellers and customized home-tour packages for buyers; every report is branded with the agent's contact information, photo and resume.
  4. 4. eNeighborhoods offers a suite of integrated services from which agents may choose; one choice is a web site, which can range from a basic,customized site to one with more custom-design work; elements ofeNeighborhoods' services can also be incorporated on agents' existing sites.
The Nature of Products

  1. 1. The eNeighborhoods' Maps program allows users to plot out where things are (like schools or recent sales); aerial photographs are now a part of that program and can be overlaid with other, digital information or not.
  2. 2. Company offerings are a mix of active and passive products; for example,CMA programs are set up to be automatic so that contact can be maintained indefinitely.
  3. 3. "Blended data" refers to data from various sources used together; MLS data can be enhanced with other information from public records to make an agent's presentation more comprehensive and memorable.
  4. 4. eNeighborhoods blends data automatically based on address through its product called NDX (Neighborhood Data Exchange).
  5. 5. NDX has been directed in recent years toward MLSs to provide the enhanced information right on the MLS system; so far, the company integrates information with about 250 MLSs nationwide.
  6. 6. Other technology companies create applications for CMA or for other aspects of what eNeighborhoods provides; however, no company competes on a total basis.
Favorite Sites on the Web

  1. 1. Siegel appreciates being able to customize his My Yahoo! page with aggregated news, his stock portfolio, weather information, etc. for one-step, daily access.
  2. 2. NYTimes.com is worth subscribing to; the headlines are a great news capsule, plus you can click for more depth.
  3. 3. Inman News is the best fast resource to keep up on the RE industry.
  4. 4. Google is a great site for searching the Web.
  5. 5. Expedia is a convenience for searching aggregated flight and reservation information; however, actual booking is usually cheaper on the individual airline sites.
Updated Prediction

  1. 1. Siegel's prediction three years ago that the RE industry would exist in much the same way but with improved productivity through technology has proved accurate; agents who embraced technology have secured customer loyalty.
  2. 2. MLS technology has improved but has a long way to go; a new product acquired from Wildfire called MLS Alliance creates one access point for agents to reach multiple local MLSs.
  3. 3. By 2008, competition among agents in the industry will be even greater; technology users will be able to handle more business and will attract business away from the old-timers.
Contact Information for Stuart Siegel:

(v) 800-975-9742


Real Estate sites in this briefing:

www.eneighborhoods.com My Yahoo!
www.nytimes.com
www.inman.com
www.google.com
www.expedia.com