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Latest brokerage website trends
2008-01-04 02:51:00
I got the chance to participate, in part, in the planning session for a sophisticated new brokerage website today. Here are the objectives: 1) The cookie-cutter IDX site is dead... the new broker website should look, at least, like Trulia - with listings maps, Web 2.0 features like Q&A to facilitate consumer/agent interaction, and lots of useful data like heat maps and automated valuation models. 2) The brokerage's blog network will be integrated into the website so that every time a blogger posts an article, its excerpt gets uploaded onto a kind of "virtual" feedreader. The blogging agents will provide qualitative, real time data interpretation complementary to the quantitative listings, comparable and other data... and they will blog independently under their own domain names, not under the broker's blog. 3) Recruitment is more important to the broker than lead generation referral fees. The brokerage wants its agents to see tangible results from the leads its sophisticated ...
More About: Website , Trends , Brokerage

Active Rain Review
2008-01-01 10:50:00
Happy New Year!Some readers here don't know I also have a small presence on Active Rain ("AR"), a real estate professional community and blog network with a devoted core of participants. Here's a review I published on AR:I admit I'm not the most appropriate to do an Active Rain year in review because I didn't have enough time in my schedule to participate fully in the AR experience. I've always been very impressed with Active Rain's growth and spirit, and see it as the bellwether for the direction of real estate blogging. Pardons, I'm going to break the year end review rules because I couldn't think of how to write a retrospective . Instead, I'll go with my natural inclinations and try to scope out the future evolution of Active Rain in 2008.The Active Rain business modelActive Rain has become the definitive national social network for the real estate community. It will continue to thrive on just the loyalty and participation of its growing member body. But social networki...
More About: Review

Real estate bloggers - finally, a direct channel into the online consumer
2007-12-31 02:19:00
Now anyone can write a blog on SoCal's Orange County Register (here's mine). The local paper has contracted with Pluck, the company behind Blogburst that works with major media companies to add blogging functionality and content. Their third party platform makes it easy for the masses to write blogs on OCRegister.com. Simply put, the OC Register and soon, other major news media are finally enabling a "permanent" voice to their readership that goes beyond the news article comments now seen on most online press.Major media awaken to leveraging their brand names in Web 2.0Major media were caught unaware by social bookmarking sites like Digg, Reddit and Netscape that positioned themselves as populist news distribution sources. Of the news organizations, CNN.com and NY Times.com pop up at #111 and #224 in Alexa's top global 500 sites, relatively poor showings for premier media properties. Only recently have the NY Times and WSJ understood that they are no longer news gateways and are...
More About: Estate , Real Estate , Consumer , Direct , Bloggers

Rentomatic
2007-12-28 13:47:00
Investment Instruments, the company behind mapping mashup Rentometer, the renter's pricing guide, will be launching a new product - Rentomatic - targeted to small- and mid-sized landlords, property managers and investors that automate rent payments and communications with their tenants. You can beta test it at https://www.rentomatic.com/tenant_home.Re ntomatic and Rentometer are great coordinated brand names for a B2B application and consumer site by a company that is conquering an underserved business niche of rental properties.

Recession domino theories in abundance
2007-12-26 17:32:00
As 2008 appears on the horizon, the "recession domino theory" has reached consensus with many economy pundits, particularly over the past week: Commercial real estate dominoes collapse - Minyanville, Dec. 26 Once one key player backs out of a commercial development, they all do. As big anchors like Lowe's and Home Depot retrench, other retailers like Target follow suit and halt commercial development across the country, which in turn creates fewer jobs and more unemployment. Credit downturn hits the malls - WSJ, Dec. 26 Anchor chain stores dropping out of developments aren't the only deal killers. The inability to refinance short term and mezzanine debt (that looked like sure bets one year ago) also kill projects. "Credit was so plentiful when Mr. Macklowe purchased his Manhattan office buildings from Blackstone, he only needed to put in $50 million of equity to secure $7.1 billion in debt, which included a bridge loan and the senior mortgage, people familiar with the deal say....
More About: Economy , Abundance , Theories , Recession , Domino

A Preview of Internet 2008
2007-12-24 11:59:00
Mainstream media embraces Web 2.0 - Mashable reports on Reuters' new partnership with SocialPicks, a newly funded stock picking social network, to develop their own branded social network community called StockBuzz. This new product has interesting implications for real estate community networks like Active Rain, Realivent or Zolve, who might consider launching branded community networks for real estate brokerages. -------------The Economist projects Internet developments for 2008 : Bandwidth will slow down as the Internet reaches limits. Until recently, most Internet users were consumers of content and only downloaded stuff into their PCs. User generated content has spawned an explosion of uploaded content, which of course just increases more consumption by an expanded user base that includes new mobile users. Internet access stops being taken for granted.Google's initiative to develop Android, its mobile phone platform, has effectively opened up the mobile phone application bus...
More About: Preview

How to Market your House on the Internet - the definitive presentation
2007-12-22 13:49:00
Friend John Harper has really outdone himself with a great client slide presentation that sells the Harper Team's Internet and Web 2.0 expertise. Real estate blogs generally have been acknowledged as informational by nature, hooking lead generation opportunities by providing real time insight and data for their local or regional client base. Hard sell is seen as no-no. What John has done is to "sell" how the Harper Team and its blog differentiates itself from competition that has not established any web presence. The slide presentation is a call to action that I believe every blogger should develop... the tone and style of John's presentation fits naturally within the parameters of blog marketing - educational, factual, and easy to understand. Bravo!
More About: House , Market , Blogging , San Francisco Bay Area

Chinese investment in the US to increase
2007-12-21 01:06:00
It's logical to think the credit crunch has shut down liquidity and cash has become scarce, but in reality there is still a lot of global cash looking for investments. The Chinese in particular are flush with cash derived in part from booming asset markets (check the Shanghai Composite Index above), and this week made a significant investment for 10% of Morgan Stanley. And the Chinese yuan keeps on getting stronger vis-a-vis the US dollar. And today, China increased their interest rate to curb its inflation rate led by 12% economic growth, making the yuan even stronger. Chinese invest in and push up their own stock market simply because they don't know where else to put their money. What happens when the Chinese investors diversify and move their cash from their stock market to US assets? Here are the latest articles: "It's a good time for investment (in the US)," said Yin Zhongli, a researcher with the Financial Research Institute of the Chinese Academy of Social Sciences. ...
More About: Economy , Investment

Reading the mood on Wall Street
2007-12-19 00:59:00
Main Street looks to investor psychology for the signals that portend recession, relief from the credit crunch, etc. But the earliest indications of a market turnaround arise from psychology shifts on the trading floor. The general public can glimpse the mood from watching real time market news and interviews on CNBC. The major media financial newspapers generally don't report on that mood, but Financial Times notes today that there's an atmospheric change: But down on the trading floors and in the treasury departments of financial services groups, a subtle psychological shift is under way: as the shock of the summer?s events starts to fade, traders, investors and issuers are starting to adapt to the idea that the cost of borrowing has changed. As a result, activity in debt markets is picking up again. Or as Ben Bennett, an analyst at Lehman Brothers, says: ?The credit machine is slowly restarting.? Although encouraging, the article continues to say that three factors could st...
More About: Economy , Reading , Wall Street , Wall

Meeting your Social Graph at Conferences
2007-12-18 01:25:00
Social networking and the transparency of the social graph profoundly changes how people meet and interact. Yesterday, I discussed Chris Anderson's premise that the marginal cost of online information exchange is essentially free. 99% of the interaction within online social networks is the free exchange of information and insights that do not translate to commercial value - a transaction, a lead, a gift. Instead, the interactions create value by establishing reputation and credibility that eventually facilitate the prize of the business relationship. The social media speeds up the process of forming business relationships by exposing each parties' experiences, knowledge and social graphs, and each find their commonalities. But what really catalyzes a business relationship after an online relationship is established is the face-to-face meeting. The visceral physical introduction binds the relationship like the meeting of pen pals. Conferences become far more important as physical...
More About: Social , Transparency , Graph , Meeting

The Emerging World of Free
2007-12-17 08:48:00
Chris Anderson, author of the Long Tail, talks about the premises underlying his new book "The Emerging World of Free " in this must-see video (h/t to Guy Kawasaki). Real estate professionals collectively fret over the erosion of their income as they realize how much closer to "free" their services are becoming. Anderson explains that this is simply the manifestation from a business model paradigm based on gatekeepers using scarcity of knowledge as a value proposition to one where knowledge becomes free on the internet. Examples Scarcity paradigm - knowledge, content are controlled by a scarce few Abundance paradigm - knowledge and content are distributed by the masses Manifestation Gatekeepers uphold scarcity and charge their "arm and leg" for it Knowledge becomes free because there is little marginal cost to posting said knowledge on the internet Example - Mass media 20th Century model - broadcast media - infinite reach but limited channe...
More About: Disintermediation

Glenn Kelman and Celebrity 2.0
2007-12-14 01:07:00
Redfin further brands itself as the geek of brokerages with its Real Estate Scientist program. And Glenn Kelman gets to publicize it on the Today show tomorrow... and I'll be the first to predict that the interview will tie in Microsoft, Seattle and other icons of geekdom. Talking tech is a good fit for Redfin.The thing I find interesting is how Glenn, by virtue of two TV appearances, has become the national celebrity for consumer real estate. I can't think of anyone else real estate related who has had similar exposure. Real estate has had no celebrities with Q Score, tech has Mark Cuban and Steve Jobs, stocks has Peter Lynch and Jim Cramer, retail has Howard Schultz, etc. Celebrity 2.0 Microcelebrity is the phenomenon of being extremely well known not to millions but to a small group ? a thousand people, or maybe only a few dozen. As DIY media reach ever deeper into our lives, it's happening to more and more of us. Got a Facebook account? A whackload of pictures on Flick...

Fed rolls out Plan B... and it doesn't work
2007-12-12 23:16:00
Since the lazy rate cut didn't work, the Fed went to plan B the next day. The world's Central Banks flooded the markets with cash to encourage lending. The coordinated actions with Europe's top central banks is a tacit admission by the Federal Reserve that lowering the federal funds rate, as was done Tuesday, hasn't accomplished enough to unclog credit markets that have frozen in fear over subprime mortgages and other securities that have been badly mispriced. The Fed is pushing liquidity into the system, rather than having banks demand it. It supplies extra liquidity at whatever price the market deems, rather than setting an interest rate first and letting the amount of the loans be determined by demand from banks. The market knee jerked but top rate cut evangelist Jim Cramer among others says plan B is bogus (if it were for real, why would bank stocks drop?) and the traders agreed, dropping the market back to where it started. Plan C coming soon...
More About: Economy , Work , Plan B

Fed rolls out Plan B... and it doesn't work
2007-12-12 23:16:00
Since the lazy rate cut didn't work, the Fed went to plan B the next day. The world's Central Banks flooded the markets with cash to encourage lending. The coordinated actions with Europe's top central banks is a tacit admission by the Federal Reserve that lowering the federal funds rate, as was done Tuesday, hasn't accomplished enough to unclog credit markets that have frozen in fear over subprime mortgages and other securities that have been badly mispriced. The Fed is pushing liquidity into the system, rather than having banks demand it. It supplies extra liquidity at whatever price the market deems, rather than setting an interest rate first and letting the amount of the loans be determined by demand from banks. The market knee jerked but top rate cut evangelist Jim Cramer among others says plan B is bogus (if it were for real, why would bank stocks drop?) and the traders agreed, dropping the market back to where it started. Plan C coming soon...
More About: Economy , Work , Plan B

A lazy rate cut crashes the market
2007-12-12 00:50:00
Most traders fully expected the Fed, always reluctant to cut rates, to make that 25 Fed Funds rate cut today, but the markets harbored expectations that a 50 point cut would really signal the Fed's intention to fight recession. Well, even though the 25 point Fed Funds cut was expected, the Fed was also faulted for dropping the Bank's discount rate (the rate banks can borrow from the central bank) only 25 points and not 50, so the markets crashed as traders almost act to "punish" the Fed for its tepid action to ease the credit crisis. Only four short months ago, hardliners were calling for keeping interest rates high to stave off a weak dollar and inflation. They were even implying that a recession would be good for America, like a cold shower. They cited "moral hazard"; bailing out the subprime victims who acted inappropriately - the lenders, the borrowers and the buyers of subprime laced CDOs - would create a precedent that would encourage new risky behavior. In the end, the h...
More About: Economy , Market , Rate , Crashes , Lazy

Before tomorrow's rate cut - market looks to 2008
2007-12-10 11:37:00
As traders look for the Fed interest rate cut tomorrow, the spectre of rising inflation will rear its ugly head with the release of CPI and other inflation indicating government data later this week. Last week, I discussed why the world's Central Banks will try to control inflation and prevent the fall of the dollar. Bernhard Eschweiler, head of JP Morgan's Central Bank Group, explains why it is difficult to "crash the dollar" because countries managing their exchange rate with the dollar are locked into holding dollars: The principle mistake that many commentators make is the assumption that central banks can separate the currency allocation of reserves from their exchange rate objectives. In practice, this is often not the case, especially for the large surplus economies in Asia as well as the oil-exporting countries. These countries all follow some sort of dollar standard, whether it is an outright peg or a dirty float. So, when they intervene to prevent their currencie...
More About: Economy , Market , Rate , 2008 , Morrow

Social networking to sell a car or a house
2007-12-07 21:18:00
Starting this article on a personal anecdote. I'm selling our old car, a Lexus RX300 after purchasing a new one and decided to price it as low as possible for a quick sale. This approach mirrors a particularly effective strategy being used to sell homes in San Francisco - high demand product, low inventory, price it low for multiple offers. Well, a car is not a house. Despite clearly having the best priced single owner 1999 Lexus RX300 on CraigsList SF Bay Area, $2,700 below BlueBook, all callers were seeking a discount on the price. It's the ingrained negotiation ethic that accompanies a transaction between strangers... and it's an annoying part of the sales process. Classifieds and car listing sites like Craigslist are currently the most efficient way to advertise a vehicle to a wide group of strangers. But this got me to thinking how much easier it would be to sell a car through a network of friends and acquaintances, particularly since offering a good value is ingrained as...
More About: Social , House , Social Networking , Networking , Sell

Central Banks cooperate with interest rate cuts
2007-12-06 12:16:00
Bank of Canada dropped its interest rate 25 basis points on Tuesday. Today the Bank of England cut its interest rate after five hikes since August 2006. Since all the world's Central Banks are collectively lowering interest rates to ease the credit crunch, the dollar in theory won't crash relative to other currencies. I'm no economist, but the prospect of global stagflation - runaway inflation combined with a weak global economy exacerbated by the credit crunch - might be a risk. Stagflation has never happened on a global level before. Here's my take on the global risk. The subprime debacle has demonstrated how credit problems arising primarily from the US can impact the global economy, both on a macro- and micro- level. The solutions for the global crisis are also being tackled by the Central Banks in unison. The Armageddon hawks seem to believe that a global crash will be preceded by a series of falling dominoes - first, the US recession and dollar devaluation, then collapse...
More About: Economy , Interest , Rate

Builders' land fire sale will crash land prices in affected areas
2007-12-05 02:37:00
After the news broke yesterday about Lennar dumping 11,000 properties at 40% the price they paid for it, I did a little research on the evolution of this institutional vulture market. I was frankly surprised to see how much overpriced land was on the builders' books. I had assumed builders would have hedging strategies for land development, but then I realized that Wall Street and real estate companies reside in different worlds with regards to risk management... (try finding a Wall Streeter working at a builder) The key consequence of these land dumping deals is their sheer volume will reset the pricing benchmark for properties in speculator-ridden regions in Florida, California, etc. It may have the stunning effect of crashing certain markets down to the same 60% off peak levels where sellers still held out with hopes they could somehow recoup something. Dec. 3, 2007 - Money.CNN Builder dumps homes in Morgan Stanley deal / Builders pull the trigger and finally sell land at ...
More About: Economy , Real Estate Investment , Sale , Fire

Blogging primers
2007-12-03 21:46:00
Some of the work we do with brokerages is getting their agents to understand how powerful blogging is as a marketing medium. Over the weekend and today, I noticed a rash of articles that puts a unique spin on "Why blog?" From Common Craft: Blogs in Plain English - (great application of instructional video)Blogging is dead? According to whom? Blogging is fundamental, an archetype of Web 2.0 and the most basic self expressive media there is. Social networks aren't eclipsing blogging, they are complementing blogging. (h/t to Greg ) Why blog? Daniel Rothamel answers the loaded question all bloggers hear: "How many leads are you getting from your blog?" He produces a hand held video (his hand is pretty steady like a track cam, how does he keep his mug centered?) that reveals his personality - peripatetic and forthright (and we're both bball fans). The real reason your agent should be blogging Kris Berg doesn't treat her readers as potential leads, she honors them as her future ...

Complicity of Brokers
2007-12-03 02:24:00
This is not an indictment on brokers, nor on capitalism. This string of events is the product of a capitalist system where, at a given point in time, each transaction made was logical and moreover, commonly accepted practice. At each stage, someone was well compensated to lubricate the transaction.Only afterwards did the consequences of selling a subprime loan to a Nevada home buyer indirectly result in a small Norwegian town unable to make municipal payroll.EventReasoningReason it unraveledLender/mortgage broker sold subprime loan to home buyer"Everybody should own their own home" / Mortgage broker collects commission by tapping into a new market of home buyersYes, housing prices skidded... but a key reason not discussed for the initial faith in subprime products was public belief that credit would continue to be available, i.e. there would continue to be credit (refi) products they could transition into after their first ARM reset. The credit crunch was unexpected, although it see...
More About: Economy , Brokers

Three predictions on stocks, the Fed and housing
2007-12-01 02:33:00
Why stocks won't move up further before December 11 Friday started with a morning market rally based on Bernanke's remarks on Thursday that seemed to concede further rate cuts after November's credit crunch induced market slide, and on a subprime bailout program. However, traders realize that if the markets move too high and seem healthy, the Fed won't cut rates on December 11 as is currently expected. Therefore, traders will sell on any bad news just to maintain conditions for rate cut momentum... today, the hint that the economy is tanking brought down the morning rally from DJIA +160 to zero at about 3:00pm EST before rebounding a bit. On and after December 11, the market will respond to whatever rate cut the Fed delivers, but it would be no surprise if the market eventually begins to wither in order to induce further rate cuts during the winter. Why the dollar may not crash like all the gloomers say Gloomers posit that more rate cuts will consequently devalue the dollar,...
More About: Economy , Stocks , Housing , Predictions

No Real Estate Blogs are in Bloglines' Top 1000 Blogs
2007-11-29 23:51:00
One of the first of the many internet theories that bloggers learn is that of the Long Tail.  Proposed and made popular by Wired's Chris Anderson, The Long Tail asserts, broadly speaking, that the internet as a commerce platform can service any product need no matter how small, arcane or trivial. The simple reason is a buyer and seller of the product can easily "meet" each other online. Further, the theory purports that there's a lot of money to be made by servicing the whims of the smaller Long Tail markets. The controversy surrounding the theory lies in its applications... there are many exceptions to the rule.The Long Tail is best exemplified by Amazon.com, which sells not only the top 100 best selling books, but also makes significant revenue on the next 100,000 or so titles.Read Write Web points out that the Long Tail doesn't apply to blogger revenue and posits that the Long Tail of bloggers make no money. What this means is most bloggers who write on a Long Tail topic ...
More About: Estate , Real Estate , Blogging , Blogs , Real

Disintermediation of the mortgage broker
2007-11-27 11:36:00
Short history of mortgage lending How mortgages are processed Innovation driver / Catalyst pre-1970 Banks and S&Ls (and before that, insurance companies) managed the loans directly with the consumer 1970-1980 Mortgage lending extended to mortgage/credit companies (Countrywide started in 1969) as alternatives to banks. Eventually these operations adopted retail branch operations. New business model 1980's Banks begin to offer wholesale rates to the new layer of mortgage lenders and brokers who could focus on servicing the consumer client. The "PC revolution" carved up the vertical operations of mortgage banking. New business lines are formed to focus on certain aspects of the loan processing. Loan securitization makes it easy for mortgage lenders to set up shop. 2001-2006 By 2004, mortgage brokers are participating in 68% of home loan originations. But banks have realized and regret they lost control ...
More About: Disintermediation , The Future , Broker , Intermedi

Warriors are the new Suns
2007-11-27 01:18:00
I used to envy Phoenix for their excellent blogger corps and its most exciting NBA basketball team. Tonight's Warrior s vs. Suns game was an offensive blast - the Bay Area now boasts a faster, younger, better passing, more combustible heir to the Suns - so now I can finally say our local team is the most exciting game in America. I love the way the uber-quick Warriors can make the last two MBA MVPs,  look like defensive liabilities. During the 4th quarter, the whole offense was posting up Nash.Blogging at night becomes more difficult during basketball season. And Phoenix is still the RE.net hub.

Arguments for the Rate Cut
2007-11-26 00:42:00
There seem to be two principle arguments on the Fed's direction on interest rates. Against the rate cuts are those in the "vicious cycle" camp: rate cut > stocks rise  > dollar deflates > inflation threatens > stocks crash > further rate cut necessary > repeat cycle until the inflation death spiral crashes everything. For the rate cuts are those who believe that preemptive action is necessary now so that its economy stabilizing effects will stave off recession in 2008. Lawrence Summers, ex-Treasury Secretary under Clinton, submits the most reasonable argument I've heard for the latter case. I normally don't reproduce an entire article, but this is the best description of the economic problem and the potential solution that I've seen for today's slippery market. Wake up to the dangers of a deepening crisis Three months ago it was reasonable to expect that the subprime credit crisis would be a financially significant event but not one that would threat...
More About: Economy , Rate

See any new theatrical release online free!
2007-11-25 16:04:00
Did you know you can now watch just released feature films free without interruptions on new online movie sites that are as easy to use as YouTube? I didn't know until yesterday. Hollywood and the MPAA may as well give up. Free feature length films online were the final pot of gold in the war on online piracy. Finally, the Pandora's Box of free online movies, served up instantly in streaming format, has opened and is proliferating. The masses, including me, have heard and read about pirated movies offered up via Torrents and other file sharing protocols but have abstained from downloading these properties due to: 1) illegality, 2) threat of viruses and other malware within the download, and 3) well publicized lawsuits by the MPAA against individuals who were caught file sharing. Now, sites like Movies-on-Demand.tv, Online Cinema.org and Movie6.net make watching streamed full length features as simple and safe as watching YouTube. It does this without any downloading, without cu...
More About: Disintermediation , The Future , Release

Cultural blogging
2007-11-23 15:26:00
Real estate agents whose native language is Spanish, Chinese, Vietnamese, Korean (and others) have the opportunity to engage their own native communities in California and other metropolitan areas with high density of new immigrants. One good strategy for foreign born RE agents is to create hyperlocal blogs in their native language that document the activities of their native communities - social events, celebrations, new restaurants and shops, film/video reviews, places to go - and supplement the blog with commentary on local real estate. The mission is cultural service and positioning oneself as a hub for that community. It's a soft sell that real estate agents aren't used to practicing - instead of blaring that you are a real estate agent looking for leads, show the reader that you're trusted as a community leader. The readers understand who you are and your profession, and may appreciate the fact that you're not hard sell. This facilitates natural networking and eventual co...
More About: Blogging , San Francisco Bay Area , Cultural

Market bifurcation everywhere
2007-11-21 10:37:00
NAR reports this morning that housing prices increased in 62% of metropolitan markets in the US. This statistic confirms market bifurcation on a national scale that is also mirrored across regional and local markets: Market Bifurcation Stable Suffering National scale Regions primarily between the Coasts that didn't experience the housing boom High demand regions - California, Florida - where housing prices boomed along with building starts State scale (California) High demand cities with strong economies - Silicon Valley, Los Angeles Overbuilt exurban regions - Central Valley, Inland Empire Local scale (San Francisco Bay Area ) Cities with strong economies with little subprime exposure Cities where speculating investors and subprime buyers bought in anticipation of an expanding economic base around the Bay Area, Los Angeles and San Diego (Global scale) Countries hit by housing price acceleration, fueled ...

No analyst firms cover real estate. Bloggers do.
2007-11-20 01:14:00
It's one of the businesses of Wall Street to research and make portfolio recommendations. There is a cottage industry of analyst firms that survey industries like technology, media and finance, and aspire to consult with both the sell-side brokers and the buy-side portfolio managers at corporations and investment/pension funds. Before the internet, the research analysts at the investment banks and the analyst firms held proprietary research and data that they could leverage either for more transactional revenue - trading and consultative services like investment banking or M&A - or, in the case of the analyst firms like Gartner or Forrester, subscription revenue. The internet as data equalizer seems to threaten the analyst firms' livelihood by making it more difficult to provide data of proprietary value. (The same parallels can be made about the analyst industry to journalism, another research intensive industry) Now all the analysts are writing blogs, and Forrester itself ...
More About: Estate , Real Estate , Blogging , Disintermediation , Bloggers