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"Stuart Siegel Interview 2002"

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Stuart Siegel Photo
6/7/02 Interview with Stuart Siegel

One Park Place Suite 450
Boca Raton, FL 33487

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The Evolution of eNeighborhoods

  1. In 1999, eNeighborhoods merged with in order to expand its focus into the business-to-consumer realm; that new company, iPlace, was acquired by Homestore in August 2001; Homestore soon after announced major accounting woes.
  2. In February 2002, Siegel bought back a portion of the company that was based on the original eNeighborhoods concept, helping Realtors promote themselves using neighborhood information.
Today's eNeighborhoods

  1. The company offers a subscription product line for Realtors to answer the general questions clients ask about a new community; eNeighborhoods compiles information on every community in the nation.
  2. eNeighborhoods also offers e-prospecting or e-farming tools to push neighborhood information to customers on a continuing basis.
  3. HomeLog is a product that allows Realtors to create a web site with the full content of eNeighborhood's information.
  4. HomeLog is also a light contact management system that captures information from visitors who opt to get reports; Realtors can input their own contacts as well.
  5. eNeighborhoods is more than a data product, it is a tool for Realtors to create value-added output for their customers; the service makes a Realtor look like an expert on every community in the country.
  6. The "One-Minute HomeBook" will compile complete information (30 pages) on any address within 60 seconds (printing time not included).
  7. eNeighorhoods intends to build on its successful model of helping Realtors by expanding products and services
Subscription Service

  1. Cost to professionals who use eNeighborhoods is pay-as-you-go; the comprehensive software is $149, and monthly updates are $29.95; users receive updates on CD-ROM but can also access all information online.
  2. The Home Log feature is part of the subscription so that Realtors can put the information on their own web site.
  3. Farming is important because there is a long time (on average 5 - 7 years) between transactions with the same customers; email technology provides a cost-effective way to keep in touch.
  4. The HomeLog Newsletter is a bi-monthly newsletter containing localized information from the neighborhood database plus some general content; compatible with the major contact/email software, the newsletter is personalized by Realtors for their own list and goes out as HTML email.
  5. Customer information is privacy protected; eNeighborhoods makes no use of it.
Ways to Market Agent Services

  1. Real estate remains essentially a people business, so the best may to market yourself as an agent is to get involved with your community; beyond that, press the flesh and apply technology.
  2. eNeighborhoods is the founding sponsor with the NAR of the Good Neighbor Award Program; its focus is both educational and inspirational in making real estate pros aware of the good they can achieve for their communities and for their business.
Best Products for the Real Estate Industry

  1. Laptops are getting lighter and easier to carry; more Realtors are using a laptop as their primary computer; handhelds are looming on the horizon.
  2. Must-have tools for Realtors include a laptop, a digital camera and a contact management system; Siegel finds Outlook suitable, but he recommends Online Agent for those who want more industry-specific support.
  3. eNeighborhood and good CMA software/MLS access software are also key; Siegel prefers the Lightning CMA product.
Free-Give-Away Campaign

  1. To celebrate its independence, eNeighborhoods ran a promotion in which the company gave away a thousand copies of its product; they have saved 250 copies for Society members (first come, first served). [See]
  2. According to Siegel, even at the regular price, the product sells for less than it is worth.
Favorite Web Tips

  1. Siegel enjoys the basics of using the web; he has customized MyYahoo! as his homepage.
  2. NY is better than the printed version of the newspaper and cheaper.
  3. is a great help for researching travel and setting plans.
  4. is a good source for more in-depth weather information, especially in connection with travel.
The Outlook Three Years Away

  1. Basically, the real estate industry will still exist very much like it is today, but technology will have improved productivity; the technology boom and bust proved the resilience of the industry.
  2. A prime area for improvement is MLS technology, which is at the core of real estate business.
  3. Hopefully, transaction platforms should be further along, but it is likely to take more time for them to be fully and widely in use because of control issues among the parties to a transaction.
Contact Information for Stuart Siegel:

(v) 800-975-9742

Real Estate Sites & Tools in this Briefing:
Free offer
Lightning CMA
My Yahoo!
NY Times