Apr. 9, 2008 - end of an era for Manhattan Loft Guy / a new day dawns?
evolution, not revolution
As I look back out how this blog has evolved over the last 25 months, one of the most interesting (to me) things I have done is to put in context what is going on in a particular building or street -- what lofts have sold for (or not) and in what condition, compared to lofts that are now available for sale. Specific information that has been based on inter-firm data or public sources. I suspect that such posts have been of the most interest to you readers, as well.
In the Happy Talk world of Manhattan real estate promotion, I thought that these posts stood out. Based on feedback from readers, they seemed to be valuable.
But I won't be commenting on specific current listings in that way any more. Indeed, over the next several days I will be stripping out past content that talks about specific Manhattan loft listings newly available for sale, or just back on the market, or had a price change, or recent contracts, or upcoming open houses.
in brief
The short story is that an agent who believes that a post of mine that put in context a specific listing (comparing it to other sales or non-sales in the same building) "cost them a deal", which led to some conversations between that firm's Chief Operating Officer and mine, including reference to language in the uniform co-brokerage agreement that REBNY members all sign that arguably prohibits any REBNY agent from saying anything in public about anyone else's listing. I don't know the facts about any connection between my blog post and the buyer's decision, but it is not hard to see that a seller, an agent and a listing firm would be pretty upset about a lost deal.
Long time readers with good memories will remember I blogged about a complaining Angry Agent 15 months ago (Jan 16, 2007, please don't bite the blogger), which generated a short dialogue about whether it was permissible under REBNY's code of ethics for me to comment like that. I read my ethical obligations as permitting me to comment so long as I didn't do such bad things as be misleading or to denigrate the listing or the competing agent. Hence, I have tried in all my comments to be factual -- critical in the sense of analytical rather than in the sense of negative, while making connections between various strands of data. (Whether I have ever crossed the line in making a snarky comment or not, it has always been my intention to be critical-not-negative.) If that sounds sanctimonious to you, so be it -- but it is accurate.
I had checked the REBNY Code of Ethics way back when because I wanted to do things right, knowing that making any comments was both unconventional (at least within the industry) and potentially controversial. Indeed, I tried to find all the limitations that could apply to my blogging, but did not come across the REBNY co-brokerage agreement until now.
burning bridges is not a business plan
Much as I think that past MLG posts have been both useful for members of the public and accepted by some REBNY agents, this is a collaborative business. My sellers are not helped if agents are mad at me for talking about their listings and so won't bring their buyers to my listings. My buyers are not helped if I don't get calls returned trying to set appointments to see the listings of agents who are mad at me because of my blog.
Not to mention that my firm is not very excited about being penalized for my blog, potentially to include loss of co-brokerage within REBNY.
So I am going to stop doing that about current listings. And I am going to begin to strip from the archives comments about still pending listings, while (probably) replacing the old post with a standard comment about why What Was There is no longer there.
Of course there is a longer story to go with this (somewhat) brief recap. You can be sure that I will comment further on that in the days ahead, in my typically verbose way.
not the end of Rico (or of MLG)
While this will continue to be a distraction for me (especially in scrubbing the archives), I will continue to post and will -- over time -- figure out ways to try to be useful. I will write more about listings as they close (a somewhat dated view of The Market, but valid nonetheless) and will continue with posts that don't involve specific listings (such as my weekly review of new listings and closed sales by price and neighborhood, and inventory). It will be awkward at first, at least for me. But I will keep slogging (not a typo, btw). I hope you will stick around.
© Sandy Mattingly 2008
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Comments (11) :: Post A Comment! :: Permanent Link
View more entries tagged with: Complaint, Rebny
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by Total BS |
MLG,
I am sorry about this, as it is most likely a stressful event for you. Historically, you have been helpful pointing out details of homes, sometimes with brokers rose-colored glasses, other times not. In any event, this complaint proves several points:
1) Brokers want to keep the buying public in the dark.
2) This particular broker was trying to 'hide' something about the apartment that you outed, which is at the least unethical and borderline illegal.
3) This complaint would not have happen in an "up" market, which just proves again we are in a housing recession in NYC
4) The broker who made this complaint is a #?/*% (fill in the blank with curse of choice), crying to his/her boss about a blog post.
My suggestion to you is that you lay-low for a few months and then return to blogging "Anonymously".
Good luck to you. |
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by Colgin |
Sandy,
I have always enjoyed your posts and think you have done a real service to both buyers and sellers. That said, it is not at all surprising given your honesty that you would eventually face this sort of heat to stop doing what you were doing. It is a funny coincidence that at the same time that you will stop giving the kind of descriptions that have been so useful to me and my wife on our ongoing search, we have actually finally signed a contract.
The apartment we are buying turns out not to be a loft. We had been the buyers on one of the deals that you have discussed recently as falling through but for reasons of your new blog I will not go into further details. So, when a 2 bedroom with a balcony and great views opended up in our post-war central Village building we decided to do that rather than continue our frustrating search for the "perfect " (Jagger's law of imperfect lofts) loft.
All the best.
Colgin |
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by Lofty |
Truly a shame. Blogging about closed listings won't be quite as fun, but it will still be interesting to hear your spin on the transaction.
I hope karma takes care of the whiney broker. |
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by NYC Loft Owner |
| I adore your website and check it daily. I'm a small loft owner with lofty future expectations and a love of knowledge. Your website has been a treasure-trove of information over the months I've been reading it.
I agree with other commenters. Whatever the complaint is about - it's got to be a truth that you stated. I can't stand the twisted way brokers in this city have such control over information and price.
I suspect that given some time you can come up with an elegant way to present your information. You might want to consider taking an approach similar to ones in celebrity gossip sites. When they can't name a sue-happy celebrity they say things like: "a certain A-list actress living off the success of a recent blockbuster romance...".
You could take a "word on the street", non-specific approach to posts that are delicate, while discussing the non-controversial aspects of the loft information in a different post with the actual loft address and listing link.
This would leave it to savvy readers to determine what loft is associated with the valuable, yet controversial information. Readers still get your information and brokers can't complain that you're discussing their listings. And even if readers fail to always put 2 + 2 together - the information will still be valuable by way of letting buyers know what's going on, in general, in the market.
However you choose to approach this, you never know the outcome. Readers may find the new presentation more fun than ever! Even if it is a bit less useful given the new, lame restrictions. :-)
Note: A blogger who has a fun approach to real estate - with plenty of facts is: http://realestalker.blogspot.com/. Maybe a style not as gossipy as this - but still on the fun side of fact presentation is something to consider. Good luck! |
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by jess |
Sandy,
I am very much a fan of yours and your blog has taught me so much about the different loft buildings in the neighborhoods we are considering... honestly if I didn't have such a great agent that I have worked with for years representing me, I would have given you a call a long time ago! You have always presented very strong, objective assessments of the properties on the market. I suspect the "crybaby agent" who complained prefers to prey upon not so knowledgeable would be buyers. You call it like it is - long and narrow is long and narrow, raised floors for plumbing, and my favorite... will not last that, well, LAST.
I'm going to miss your "real time" commentary but do look forward to your Monday Morning reports.
Jess |
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Apr. 9, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by Sandy Mattingly |
THX to all for the comments in support. Not to worry, I *will* figure out how to be useful for 'civilian' readers and safe in the world of REBNY ... it just may take some time. I will need to find something credible to say that does not have chapter-and-verse support by reference to specific new listings or contracts. But since every loft's value is a function of its space, finishes, layout, view, light, amenities, neighbors, etc, etc, etc, ti strikes me (now) as hard to be informative and credible "in general" (or, through vague descriptions). And I don't see playing any guessing games, at least not at this point.
BTW I am not sure the agent who brought this to a head is a whiner -- especially as I do not know what happened to the 'lost deal' or what the conversations were between agent and seller. Plus, there is a rationale for the rule Thou Shalt Not Comment About Others' Listings -- not a very modern or helpful one, but a rationale nonetheless. Which I will blog about (if course!).
Again, your support is much appreciated. If you have ideas about what you'd like me to post about, fire away!
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Apr. 10, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by Larry |
As a frequent reader and big fan I will be missing your sharp and funny observations about these one bed wonders, first birthdays, and proper proper names ...
In a world where StreetEasy, ACRIS, and MightyMap give you free access to all this information and building histories anyway, these restrictions are ridicilous. I hope you find some way to get the information through, perhaps by referencing these open resources.
Will be looking forward to your new commentary |
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Apr. 11, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by AJ |
| This is a joke and the typical real estate type of activity that is eventually going to come back and destroy your industry. Clearly restricting your ability to comment on listings is a restraint of trade, and probabliy a RICO violation. Wait till Andrew Cuomo hears about it. |
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Apr. 11, 2008 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by hst (aka anonymous, etc.) |
| Sandy (if I may),
I wanted to add my two cents to the chorus: this has been a terrific site and a personal favorite of mine for a little over a year now. Like all of us, I've learned an enormous amount from reading it and have really come to appreciate your passion for loft spaces and neighborhoods. The information and judgment that you've included on the site has been invaluable and unique. I'm not surprised by the new development, since I've always presumed that your posts must ruffle some feathers. But I think it's absurd and a symptom of how miserable some members of your profession really are. I'll continue to read it daily (yes!) and will hope that you'll find a way to continue to share your very personal and informed and specific opinion on listings! |
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Nov. 3, 2009 - RE: end of an era for Manhattan Loft Guy / a new day dawns? |
| Posted by loha Rentals |
congratulation I like your blog about Manhattan Loft Guy |
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