Frank Borges LLosa is owner of FranklyMLS.com, a new multiple listing service site that operates "wiki" style in which users contribute information (see Inman News article).
LLosa said he uses his blog as his main source of business.
LLosa will speak at Real Estate Connect in San Francisco, July 23-25, 2008.
He answered a set of questions posed by Inman News:
What do you see happening in the real estate market in 2008?
More bogus marketing tricks to try to sell homes — including unapproved short sales and auctions with high reserves. These tricks will confuse buyers even more. Agents will have to understand all of these tricks and convey them to buyers in a way that doesn’t make the agent look lazy for not trying. Blogging is a perfect platform for this, in part so you don’t have to repeat yourself 12 times.
What advice do you have to help real estate agents and brokers get through this market?
People are still buying and selling. There may be 20 percent less volume at a 10 percent lower price, but there is plenty of business out there, especially since many of the weekend warriors are packing up and sailing off.
What was your first job?
With the exception of high school working for Mrs. Fields cookies and summer college internships, I have never had a job working for somebody else.
What sparked the idea to start your company?
I saw my mother buy and sell a few homes. She wasn’t a Realtor, and she did some on her own, and used a Realtor other times. She hated Realtors. So I used that knowledge to reach out to those who are skeptical of Realtors. I use my blog as my main source of business. I like to expose Realtor tricks such as pocket listings, "buying a listing" and even discuss rebates. My motto is: "I used to rebate, but then I got good."
What’s been your biggest challenge in running the business?
The administrative paperwork stuff and recruiting top-producing agents.
If you had one thing to do over again in your life, what would it be?
I would have gone to law school earlier. I’m now slated to go at night starting this fall.
What style of home do you live in and when did you buy it?
Why the assumption that Realtors owns their own homes? I currently do own a condo that I bought two years ago, but before that I had a great house that I rented from a relative. There are some great advantages to renting.
What worries keep you awake at night?
I wouldn’t be in this business if I had worries that kept me up at night.
What lesson did you learn in the last year?
That I am glad that during the housing bubble I never talked somebody into buying a house since it was a "good deal." I actually gave my clients shirts that said "I just bought a house during the ’05 Housing Bubble." They were OK with this, since they were buying a home for the long term.
What would your second career choice be?
I currently have plans for law school. I won’t work for a law firm, but I’ll find something exciting to do with it.
What kind of music do you listen to?
Whatever is on XM radio. I don’t even own an iPod.
Who is your hero?
Bob Hale with the Houston Association of Realtors.
Hear LLosa speak at Real Estate Connect in San Francisco, July 23-25, 2008. The conference program and registration are available online via the Connect Web site .
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