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"Stuart Siegel Interview 2000"


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Stuart Siegel Photo
8/4/00 Interview with Stuart Siegel

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

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Introduction to iPlace

  1. iPlace is a leading Internet intermediary that is in the business of facilitating online transactions; their products are used on more than 40,000 affiliated web sites and by over 65,000 paying business subscribers - primarily Realtors.
  2. The company has hundreds of strategic relationships with companies such as Yahoo!, Microsoft, REMAX, GMAC, Realty Executives and numerous financial web sites.
  3. Products include professionally oriented ones like eNeighborhoods, Home Log and Relocator, as well as consumer sites on HomeRadar.com, ConsumerInfo.com and QSpace.com.
  4. A new super-site for consumers is about to be launched at iPlace.com that will combine the best of the services; iPlacePro.com is also in development to offer all the company's professional services in one place.
  5. eNeighborhoods, a company dedicated to developing professional products for the real estate industry merged with ConsumerInfo.com in early 2000 to become iPlace.
Services for Agents

  1. The company is still best at providing tools for the real estate profession to list and sell more homes; its subscription product line is available online and on CD-ROM; formerly called Know the eNeighborhood, it is now marketed as eNeighborhoods.
  2. By typing in any address in the country, a user can pull up detail on the specific neighborhood demographics, public and private school info, housing values and trends; professional looking reports can be printed from either source.
  3. Detail is listed on nearly every home sale in the nation, so Realtors can use eNeighborhoods as a resource for comparables.
  4. The agent version costs as little as $19/month for the CD-ROM and unlimited Internet access; updates occur monthly; there is also an office version.
Integrating Services into Daily Routines

  1. With just a desktop computer, in a few minutes you can prepare a 15-20 page eNeighborhoods report to take into every residential listing presentation; you will look like a very well­prepared professional.
  2. By offering to provide a report on the area where the seller will be moving (anywhere in the country), you can often get an outbound referral.
  3. On the commercial side, the Relocator product at iPlacePro.com has applications for relocations of businesses whose employees are moving.
  4. Knowledge of housing values is helpful to commercial agents because residential property values track commercial property; iPlace compiles comparables information and plots it on a map
Collaborations

  1. The professional version of eNeighborhood was developed and co-branded with Century 21 before the Internet took off; eNeighborhoods fueled the neighborhood information of Century 21 Communities on AOL.
  2. That community background information has been offered also to other major real estate sites.
HomeLog for Agents

  1. The product HomeLog extends availability of the neighborhoods information as content for the web sites of individual agents.
  2. HomeLog offers agents a free web site at the domain name homelog.com with a highly cusotmizable front page utility; this page can be set to point to their existing web sites and also functions as entry for consumers to the information on HomeLog.
  3. HomeLog goes beyond giving the public access to its compiled information by building in e-farming techniques.
  4. An agent's site through HomeLog captures leads and enables the agent to maintain a relationship with them though automatic tools e.g., updating contacts every time a home sells in their neighborhood, tracking their home's value, sending them tips on home maintenance.
  5. HomeLog corrects a weakness in the traditional way real estate business has been conducted with so much emphasis on the transaction that the relationship is overlooked.
  6. To get an idea of the functionality of HomeLog, an agent should view iPlace.com; HomeLog.com is a closed site consumers going there directly will reach a landing page that instructs them to call their Realtor.
Personally Relevant Information

  1. iPlace now delivers more than 90% of credit information over the Internet: newly acquired Q Space provides the leading engine for web sites to offer credit reports to their customers; ConsumerInfo was also heavily into that business.
  2. iPlace is in the business of delivering comprehensive, personally relevant information; it not only gives users the information, it gives them the tools to monitor that information on an ongoing basis.
  3. iPlace is in a unique category that is complementary to most other sites there is no direct competition; the company aims to remain very neutral.
  4. Plans for improvement include enhancing eNeighborhoods with tools to make the service even more valuable to real estate subscribers e.g. instant access over the Internet to credit reports on their customers.
Best Technology Products and Web Sites

  1. With a good laptop, today's real estate pro does not need a desktop computer; Microsoft Office is recommended as basic software.
  2. Required real estate specific tools should include a good contact manager such as PREP or Top Producer plus good MLS access and a good CMA, which the IRIS Lightning Suite can provide.
  3. Among personally helpful web sites on Siegel's list are Expedia.com for travel and MapQuest.com for directions; for keeping up with the industry, he likes Inman.com and RealtyTimes.com.
Looking to the Future

The role of the Realtor in the future will continue to be important, but the nature of the role will evolve; Realtors will need to adopt technology to keep pace with savvy, better informed real estate customers.

Contact Information for Stuart Siegel:

(v) 800-975-9742


Real Estate Sites & Tools in this Briefing:

www.iplace.com
www.iplacepro.com
www.eneighborhoods.com
www.homelog.com

Basic software:
Microsoft Office

Real estate specific software:
PREP 2000
Top Producer
IRIS Lightening Suite

Personally helpful sites:
www.expedia.com
www.mapquest.com

Industry information:
www.inman.com
www.realtytimes.com