Archive for August, 2006

Trulia Launches in 10 More States!

Trulia Live in 10 More States

We are almost there…so very close.

We’ve just added coverage across the Union, including Colorado, Georgia, Indiana, Massachusetts, Michigan, Minnesota, North Carolina, South Carolina, Tennessee and Wisconsin.

And check out these Trulia fun facts to inaugurate our new additions:

  • Three times the fun. The average sales price for a home in Vail, Colorado is $995,640 versus $291,537 for the state (since 1/06).
  • Which bubble? Marietta, Georgia’s home sales for the first half of this year were down 42% versus the same period last year.
  • Something in the water? In Ann Arbor, Michigan over 80% of elementary school students meet or exceed state standards in English and Math.

All aboard for Milwaukee!!

Posted by Heather, vp of marketing · August 30, 2006, 21:08 · No comment »

When Mascots Attack

marker water 2I was among the privileged few who had the honor of sporting one of the Mr. Marker Man costumes at the Inman Real Estate Connect conference a couple weeks ago. Now, I happen to have a pretty respectable mascoteering resumé — yes, I have a full gorilla suit at home in my closet — so I was prepared for some condescension from the conferencegoers. But after the third or fourth comment along the lines of “It’s really pathetic that your job is to wear that thing,” my pride was a bit wounded. There I was, the object of these people’s scorn and abuse, and I was nearly powerless to defend myself: bound equally by a) the unwritten code of the mascot, which states that a noble mascot must bear any and all indignities no matter how humiliating; and b) the fact that the costume restricted my arms so much that I couldn’t even bring my hands together to, say, wield a two-by-four. I mean, the freaking gloves only have four fingers — I can’t even make offensive gestures properly! How am I supposed to express my mascot angst?

marker water 2Why do mascots lose their cool? What is it about a thin shell of cardboard and green felt that can transform a mild-mannered gentleman into an uncontrollable Marker Maniac? How do we draw the line between good-natured mascot hijinks and criminal deviance, between schmoozing and stalking, between “fun for all ages” and “do not leave alone with your child under any circumstances”? A greenhorn in the legion of Marker Mandom is like a newborn foal taking his first trembling steps while standing on a giant mound of lime Jell-O during a mild earthquake.

Indeed, without proper guidance, we’d all surely have gone the route of Benny Da Bull, who can’t seem to stay out of the headlines: he got nailed for selling weed out of his car in 2004 and then punched an off-duty cop earlier this summer. In the latter incident, the cop apparently took issue with Benny’s riding a mini-motorcycle through a Chicago food festival without the proper permit. Come on, Benny, it’s not rocket science. Even the Atlanta Hawk knows that if a mascot wants to cruise around on a motorized vehicle, he’d better stick to the sidewalk. Unless, that is, he’s T-Rac, the raccoon face of the Tennessee Titans — then he should just aim for the legs of the opposing team’s players. (Why is a raccoon representing the Titans? Turns out the raccoon is Tennessee’s “official wild animal”… and unofficial dinner meat.)

But I digress. Thankfully, the International Mascot Corporation (our manufacturer) did not launch us into the mascosphere emptyhanded. Well aware of the temptations and dangers unique to the mascot lifestyle, IMC includes a Costume Performance Manual with each suit that they ship. Much of the content is dull and uncontroversial — truisms like “You can tip your hat (if you can reach) at ladies, or as a sign of respect” and “Brush out the fur areas with a wire brush” and “Horseplay other than actual promoting can be expensive” and “A good rule of thumb is to try out your talents on a small crowd before attempting national television coverage.” And so on.

No, the real gems are in the sections entitled Dealing with Children and Minor Crisis Situations. “Do not ever forget the magic and wonder you bring to children!” urges the manual. “You fall in the same league as Santa Claus.” Considering picking up a child? Don’t even think about it: “You are awkward and large. You may scare or hurt them, or even drop them because of your large oversized hands.” That’s harsh.

Most importantly, says the manual, don’t play favorites! “Children’s dreams are shattered if they get left out of the fun.” So I guess we’ve figured out what Mr. Marker Man’s superhero power is: shattering children’s dreams. Personally I would have picked flying or X-ray vision, but I don’t wear the pants around here… just the mascot costumes.

The crisis management advice is noteworthy mostly for what it fails to mention. All of the discussion focuses on costume components getting lost, damaged or stolen. That’s great, but what happens when there’s a real crisis? Who do you want in your foxhole? A mascot who knows how to improvise when one of his gloves is missing, or a mascot who knows how to defuse the bomb that’s set to explode as soon as the bus’s speed drops below 55 miles per hour? Things can get hairy out there on the field of battle. One minute you’re a giant frog hopping around and amping up the crowd; and then before you know it, you’re facing 3 to 5 years for misdemeanor molesting. This could be the Mascot Trial of the Century. I’m no lawyer, but I think Reedy Rip’It should go with the “frogs don’t have hands” defense.

simon sausage

It goes both ways, of course. For every mascot story of cop-punching or fan-groping, there’s another in which the mascot plays the role of hapless victim. A few years ago in the Milwaukee Brewers’ traditional sausage race (which, in a fairly transparent ploy to lure more female fans to the stadium, recently introduced a fifth competitor named Chorizo, a.k.a. “El Picante”), the Pittsburgh Pirates’ Randall Simon clocked the Italian sausage with a bat, sending both her and the hot dog tumbling buns over wieners. It was the worst meat-related sports disaster on record since the tragic night in March of 1997 when sumo legend Akebono attended the Westminster Kennel Club’s dog show. Speaking of enormously fat men — in 1988, former Dodgers manager Tommy Lasorda confronted the Phillie Phanatic and “bodyslammed it to the turf.” And he still blogs about it!

What prompts this sort of hateful mascophobic behavior? I think Homer puts it best in the classic “Simpsons” episode about Itchy and Scratchy Land: “I kicked a giant mouse in the butt! Do I have to draw you a diagram?”

Maybe that’s just the way things are. As sure as the sun will rise in the morning, some drunk sports fan or conference attendee will bait a well-meaning mascot into losing his cool and going Billy the Marlin on the dude (Billy once shot an elderly Florida Marlins fan in the eye with a T-shirt cannon). Before I go, I want to step back for a moment. Lost in all of this man-versus-mascot and mascot-versus-man aggression is an important truth: deep down, mascots are ordinary people too.

marker man business

Ordinary people who, given the opportunity, can accomplish extraordinary things.

No, that’s not me in the video. I’ve got too much self-respect for that. But if you need a large, awkward green map marker at your upcoming wedding or bar mitzvah, drop me a line.

Posted by Louis, company mascot · August 25, 2006, 08:08 · Comments (7) »

Next Wave in Online Advertising

With our recent announcement of Sponsored Listing advertising, industry insiders are asking for more details on our business model–how are we going to make money? How is Trulia different from other online services? Are we simply going to take listings and charge real estate professionals back for them?

As a member of the team responsible for industry development, I’d like to provide additional insight and background on the Trulia model:

Consumers search online through a Web of information sources, and Trulia as a search engine helps consumers easily locate the property information that matches their home search queries. Then we point those consumers directly to richest source of property information: the property detail page on the listing broker and agent’s own Web sites. Trulia makes available these links to the listing broker and agent’s Web sites for free—a key feature of our business model.

How is Trulia unique? We are an independent, unbiased media company offering both free and paid opportunities to market your own property listings online. No matter whether a real estate professional decides to take advantage of our premium advertising, the basic links from Trulia.com to your property detail pages remain free. Of note: rather than attract consumers to Trulia as a destination site, we function as a “high-speed online interstate,” pointing traffic to the property information that resides on your own Web site. That’s why Trulia indexes only snippets of property information, and then we offer a multitude of ways for consumers to click from our search results to a listing professional’s own Web site.

To create a sustainable business that delivers value to real estate professionals over the long term, we are working hard to build premium ad products that create the most return for you – at the best value. We look forward to your feedback in the process. The good news for real estate professionals is that new entrants like Trulia into the online media arena means more competition to deliver brokers and agents good value online—and more opportunity for brokers and agents to increase traffic to their Web sites. The net result is that we’re entering a more market-driven media environment where the pressure is on to deliver good value to real estate professionals.

Posted by Kelly, vp of industry dev · August 14, 2006, 18:08 · No comment »

Slicing and dicing your real estate search

When you’re searching for properties in a large city like New York or San Francisco, you often have a pretty good idea of what neighborhoods, streets or city blocks you (dis)like. In some areas, folks think in terms of county rather than cities when they’re looking for a place to live. Trulia has featured neighborhood searches in major cities for many months now, but our new advanced search feature lets you refine the process further.

For instance, if you’re looking for housing in Los Angeles (say, for a job at UCLA), you might want to look at West LA, Westwood or Century City. If you use our advanced search functionality, you can select all and only those neighborhoods you’re interested in, together with your price or property type criteria, and get all the properties in those neighborhoods in one place. It’s pretty handy for cities like San Francisco, where nearby neighborhoods can be very different from each other and a map-based search may not exclude areas you really don’t want to live in.

Another feature that was requested by a lot of our users is the ability to search by school district. While local regulations don’t necessarily make it possible for your children to attend the closest school to your house, location (location, location!) in or near a good school district is often a deciding factor for families looking for housing. Our advanced search lets you pick a school district near a given city and search for properties there. Our map even plots the outline of the school district you selected so you can easily visualize what areas are worth exploring if you’re driving around looking at open houses. Check out our properties in Piedmont United school district for an example.

Trulia Piedmont Unified school district real estate search

Southern California and New York state residents might also find our county search useful: you can be city-agnostic and view all of sprawling Orange County, Westchester County, or any other county in the US.

My favorite feature is the street search. If you want to see all the units for sale on 5th avenue in New York City, just pick New York at the top of the advanced search page, enter “5th avenue” in the street box at the bottom, hit search, and voilà. The map looks especially neat, with all the markers lined up in a row near Central Park.

5th avenue properties on Trulia

Posted by Roger, Engineering Lead · August 14, 2006, 18:08 · Comments (1) »

Trulia Tests Sponsored Listings

At Trulia, we spend a lot of time thinking about ways to help consumers who are looking to buy real estate and brokers/agents who are looking to sell it. Our goal is to help both groups wherever possible, creating a virtuous cycle that results in a continually improving website for everyone. Keeping with this tradition, today we are announcing the launch of our first test with Sponsored Listings on Trulia.

sponsoredlistings

To date, we have received positive feedback from brokers and agents who have found that Trulia is great at connecting them with potential buyers via our organic search results. They have asked us what more they can do to increase the number of visitors that they get from Trulia. Our response, Sponsored Listings, is essentially a program that will allow brokers to more prominently display their listings on our site.

Yes, it is true that brokers will pay us money for this product (Alas! – we must pay the bills!), but we won’t let that get in the way of us serving consumers. In fact, we will only show sponsored listings if the properties match what the user is searching for. So, if you’re looking for a 2 bedroom apartment in Los Angeles, we won’t show you a 3 bedroom home in San Francisco, even though there are some lovely ones on Trulia. In our opinion, having sponsored listings that are relevant to a consumer’s search is the best user experience and will provide the most qualified visitors to our broker and agent partners.

Over the next few weeks, we’ll be playing around a bit with the format of sponsored listings (primarily on the search results pages) to see how users interact with them. If you are lucky enough to be in a test bucket, you will be able to see the sponsored listings. We’ll be running some numbers (yes, a lot of us are engineers) to decide what to keep and what to modify. In the end, none of this should negatively impact things for users or agents and brokers. Users will still be able to find properties that interest them, and brokers and agents will still be able to have their properties viewed.

We really want to elicit as much feedback as possible, so let us know what your thoughts are–both positive and negative. We will provide an update as our testing continues.

Posted by Dan, product manager · August 11, 2006, 13:08 · Comments (5) »

When does it pay to commute?

Rising gas prices can hit the wallets of commuters and homeowners quite hard. Since San Francisco is a popular commuting destination from suburbs in all directions, we decided to take a look at how the cost of commuting and the state of local housing markets can combine to make some places more favorable for commuters to settle down in.

In distant suburbs such as Tracy (62 miles), commuting to San Francisco for work can cost you over $1,000/month in gas and car ownership costs. Even coming from nearby Millbrae (14 miles) will set you back nearly $500/month. This raises the question: is it cost-effective to buy a home away from the city and commute there for work?

When combining monthly commuting costs with monthly mortgage payments for a typical home in several Bay Area cities, we found a wide range of average monthly expenses—some higher and some lower than what you would expect to pay to both live and work in San Francisco (see chart below).


Based on the average price for a home in San Francisco and commute costs per AAA a family pays $4,648 per month in mortgage and auto costs. For those commuter cities falling below the San Francisco average (e.g. San Bruno, Richmond, Hercules and Tracy), a home-buyer can expect to buy an above average home without pushing their monthly costs (including commuting) over those typical for a San Francisco home. In more expensive areas such as Pleasanton and San Rafael, combined commuting and mortgage expenses make it more expensive on average than living in San Francisco, but the type and size of home is quite different.

Take a look at what you can get in Hercules and Tracy if you are willing to pay average San Francisco prices:

Tracy: 5 beds, 3 baths, 3,101 sqft
http://www.trulia.com/property/20282983-1895-Bankston-Drive-Tracy-CA-95304

Hercules: 5 beds, 3 baths, 2,390 sqft
http://www.trulia.com/property/6920038-1305-Turquoise-Drive-Hercules-CA-94547

San Francisco: 4 beds, 3 baths, 1,915 sqft (Sunset District)
http://www.trulia.com/property/324480-2314-36th-Ave-San-Francisco-CA-94116

And here is a list of 5 of the best values for Bay Area commuters:
         City                           Avg. Monthly Cost                       Distance from SF
1) Emeryville                              $2,466                                            10 miles

2) San Pablo                              $2,774                                            19 miles

3) Richmond                              $2,982                                            17 miles

4) Oakland                                $3,033                                             12 miles

5) El Sobrante                           $3,119                                             22 miles

Of course, many are willing to make sacrifices on the size of their home for the convenience and lifestyle of the city. These figures just point out that when considering where to live, the cost of commuting can have a significant impact on what you can afford. With the rising costs in gasoline, it will be interesting to see if there is more demand for homes closer to where the jobs are.

Posted by Nick · August 9, 2006, 10:08 · No comment »

Carnival of Real Estate 4th Edition

This weeks Carnival of Real Estate is being hosted by Property Grunt. There are 25 posts over a wide range of topics, definitely worth a read.

Posted by Jamie, vp of product · August 7, 2006, 13:08 · Comments (1) »

Future of Real Estate Listings

I had the opportunity and pleasure to speak at a conference held by some of the local Realtor Associations last week. The topic was technology; who are all of these new companies, their views on the real estate industry and are there opportunities for partnerships with the associations. I gave an overview of Trulia and then spent some time postulating what the future of real estate might look like.

When you take real estate listings as an example, I think the future will be quite interesting. If you look back to the pre-Internet days, real estate listing information was disseminated in print books and contained the text attributes of a property. A consumer had to contact an real estate agent to get access to the information and largely it was not up to date.

The Internet came along in the late 90s and revolutionized the way listing information is made available to the public. Sites like realtor.com, homeadvisor (now MSN house and home), mlslistings.com, etc. allowed users to search MLS information from the comfort of their own homes or offices whenever they wanted. Today there are many more sites (Trulia, Prudential, Re/Max, etc.) that allow users access to listing information. However, the evolution of the listing, has not changed as rapidly. Sure you can see some photos and in some cases a virtual tour, but for the vast amount of listings, there are only one photo and no virtual tour.

Looking forward 5 years, what will real estate listings look like? Something like this?

With over 73% of Americans having broadband connections; the ability to download, view and watch rich media applications such as videos is now a reality. Thanks to sites like You Tube, it is now even easier to upload video content. A recent search on You Tube for “homes for sale” yielded 400 results, in a few years it may have 3 million listings. These videos are much more than text and photos and realtor.com or a plain virtual tour, in time they can become a 5-10 minute walk-through of the home, neighborhood, schools, etc.

I asked the audience if they have ever heard of You Tube; less than 10% raised their hands. If tomorrows homebuyers/sellers are using services like You Tube and expect rich and robust information, how does this impact the marketing of homes, the MLS and ultimately Realtors? How do IDX/VOW policies affect this new type of listing information and format? What is the ultimate impact on buyers and seller behavior with more and more information being made available to them?

Posted by Jamie, vp of product · August 6, 2006, 11:08 · Comments (8) »

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