San Diego, California
A collection of notes and observations by Saul Klein, CEO of Point2 Technologies and InternetCrusade.
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February 2007
Feb. 23, 2007
Definition:
Mashup - a website or application that combines content from more than one source into an integrated web presentation.
Question:
What if on my website, through an IDX or VOW Feed, I display your listing on part of my web site, and, on the same web site I have a
Zillow Zestimate with a value substantially less than the listed price...Should I, as the listing broker, be allowed to "opt out"
and not allow you to put my listing on your web site in this situation?
Could it be viewed as a disservice to the seller for me to allow their home to be displayed on the same web site with a value
showing the home is worth less than the listing price?
I recently saw a home listed for sale on a web site for one price, and on the same web page, a Zestimate of the home for about
$500,000 less than the listed price. In this case, is this a legitimate reason to ask that the listing be excluded from the feed to
the broker displaying the listing at value less than the listed price?
This is an actual situation. As we move into the future, there will be other reasons that warrant the right of a broker to "opt
out," and in some cases, selectively "opt out."
If a broker opt out can be shown to violate anti trust laws, the DOJ should of course pursue the offending broker...but for the DOJ
to attempt to prohibit the right of a broker to opt out is pure nonsense.
This is not an indictment of Zillow as I believe Zillow's data will improve over time, but it illustrates how technology can present
us with new challenges and hard and fast rules by the government do not serve the consumer or the practitioner...and the government
should be spending our tax dollars on more important issues, and not litigating with NAR.
Saul
Saul Klein
President/CEO, InternetCrusade
Feb. 13, 2007
Jack Harper writes about "Fee for Service:"
>>
Does anyone here have experience with this business model? Does it fit your market? Is it an approach whose time has come. . .
hasn't come. . . never will come?
<<
Hi Jack,
I have some experience with this business model. In the late 1980s, as a broker with a small staff, I began to teach a number of
different classes for a training and seminar company still in existence today, The Learning Annex (they have Donald Trump speaking
for them now). One of the classes I presented was "How to Buy Your First Home" (which I referred to among my staff as "How to Buy
Your First Home From Me" :-), another was "How to Buy Investment Property," another was "Personal Financial Planning," and another
was "Tax Aspects of Real Estate."
The Learning Annex charged $25 to attend, and they split the take with me. The events were held monthly, usually at Class B hotels
in San Diego.
I would put together a "Forms Package" which was for instructional purposes only and included forms I got from a Title Insurance
Company, pamphlets on loans (this was the time of VIR/ARM/AML/etc) which I obtained from Lenders by the box full which always
included terms (Margin, Base Line, Cost of Funds, Monthly Cap, Annual Cap, etc). Also included in the package was a blank contract,
Real Property Disclosure Form (as recommended as a result of the Easton Strasburg Decision), Agency Disclosure Form, and a few
others, which I would go through in the 3 hour class. I charged $25 for this package and about two thirds of the attendees purchased
the package.
There were always about 30 people in attendance and from the attendees I built a database (surprise :-). My real estate staff
consisted of 3 REALTORS and myself and we had different pricing models from standard seller pays from proceeds, to discounts, to
hourly (with a retainer paid up front). I always speculated that the reason more REALTORS did not try the Fee for Service or Hourly
Fee was because few had enough "warm" prospects from which to experiment.
The results after 3 years were interesting. Most consumers opted not to pay by the hour, or by the service, but to allow the
commission to come out of the seller's proceeds. As informed consumers, schooled in the transaction, agency, disclosure, and more,
they preferred not to take money out of their pocket. Those that did, loved the service. We would reimburse them for the money they
paid from any commission paid to us by the seller.
At the time I also had a tax preparation and financial planning practice so ALL attendees were prospects for usually at least one of
the financial services we offered.
On a small scale, it was somewhat successful, but because of the way consumers think about real estate purchases and commissions,
there was not a rush to this type of fee structure.
Now, as we all know, the Internet represents a Paradigm Shift and "When a Paradigm Shifts, everyone goes back to Zero" and "Your
past success guarantees nothing when a Paradigm Shifts."
Perhaps with the Internet and the fact that it is making the transaction more transparent, the fee for service model may experience
a rebirth. Watch and tract the success of Redfin. I think some consumers, with the help of the Internet, may be ready for this
model. The question is, can brokers sustain such a change in their business models?
Saul
Saul Klein
President, InternetCrusade
Feb. 8, 2007
Categorized in: Travel Diary
Hi everyone,
I have been traveling extensively around the country over the last 5 years and at least 6 times a year I make it to the Carolinas.
Something I have become fond of, and which few people outside the south know of, is "sweet tea." I look forward to it when I know I have a trip to North or South Carolina planned.
It is such a local favorite that you can buy it at fast food restaurants such as McDonalds and Taco Bell...and at my new favorite place to stop for lunch or dinner when traveling, Smithfield's.
For those not familiar with Sweet Tea, I give you the following from http://en.wikipedia.org/wiki/Sweet_tea
Sweet tea has long been a staple beverage in the Southern United States; most family-style and fast food restaurants in the region offer the customer a choice of sweet tea or unsweetened iced tea. It is a signature drink of the region, to the point where the Southern use of the word "tea" is largely used to refer specifically to cold, sweet tea and not to hot or unsweet varieties. Its widespread use is probably due to its light taste, ease of preparation and low cost...
Saul
Feb. 7, 2007
Learn the art and science of sales. There have been many good books written on the subject.
Understand persuasion and how it fits into your business.
Think of yourself as a "helper" (no one wants to be "sold" something). After all, you are helping people with what is usually their most valuable asset, their home.
To be effective in sales, you need the following:
Product Knowledge
Sales and Communication Skills
Access to Potential Clients
Integrity
Perseverance and Commitment
And let's not forget....
Enough money (capital) to get you through start up and the lean times.
Pay attention to the future...as someone once told me..."that is where you will spend the rest of your life."
Saul
Saul Klein
President/CEO, InternetCrusade
Feb. 7, 2007
Since the average term of homeownership can be somewhere between 5 to 8 years, realize that everyday is a marketing day and the easiest people to reach (and those most inclined to listen to your message) are those you already know.
Go through your personal address book. Call, mail, or e-mail everyone in your personal address book to let them know that you are now in the real estate business and that you would love to hear their advice and of course, if they know anyone who is interested in buying or selling, that you would appreciate if they mention your name. Don't be shy about this. Don't feel like you can't "impose"on your friends. If your friends won't help you, who will? Ask if it is ok for your to give them an update on your progress after
your first year.
Saul
Saul Klein
President, InternetCrusade
Feb. 4, 2007
Welcome to San Diego. Here is a little background info:
Map
San Diego climate is described as "Coastal Desert." It is usually warm and dry...but it can rain (rarely) and it can get chilly at night (say in the 40s in the winter, rarely).
When people refer to the San Diego Area, they are usually referring to San Diego County, which is made up of the City of San Diego and a number of smaller cities (National City, Chula Vista, Coronado (which is not an island), La Mesa, Santee, El Cajon, Lakeside, Poway, Carlsbad, and probably a few others I am unintentionally probably leaving out). San Diego County is bounded by Mexico on the South, Camp Pendleton on the North (about 60 miles), the Pacific Ocean on the West, and Imperial County on the East (about 110 miles).
San Diego is a great place with lots to see and do...here is a partial list:
San Diego International Airport - Conveniently located a few miles from downtown and across the street from the harbor. It has a very steep landing path over the buildings and down onto a single runway. Taxi time is the shortest you will find at any airport for a city of the size of San Diego.
If you like to walk or run, from the Marriott or Grand Hyatt, go down to the waterfront and head towards Seaport Village, and beyond.
Coronado is the home of the North Island Naval Air Station and at times we have up to 3 aircraft carriers in port. Coronado is also the home of the historic Hotel Del Coronado.
Seaport Village - Built primarily for the tourist trade around 20 years ago, lots of shops and restaurants.
The USS Midway Museum (CV 41) is tied up close to the foot of Broadway along the Embarcadero
Star of India - Tied up on the Embarcadero, An old Iron sailing ship and museum
Downtown San Diego - A great area downtown for restaurants is the Gaslamp Quarter, which has been redeveloped over the last 20 years. The Convention Center is on the water and walking distance from the center of Downtown.
Old Town Historic State Park - The first "Downtown." Located about 4 miles from downtown. Lots of shops and Mexican resturants.
Petco Park - home of the San Diego Padres Major League Baseball team, is walking distance from the Convention Center and the Marriott and Hyatt.
Mission Valley - Approximately 7 miles from Downtown on Highway 163. Two regional shopping centers, Mission Valley Center and Fashion Valley Center. These are major shopping centers with department stores and specialty stores. Qualcom Statium, home of the Chargers is also in Mission Valley.
Harbor Island - a few nice restaurants, it is a manmade "peninsula across from the airport.
Shelter Island - A little west of Harbor Island, also manmade and a few restaurants and hotels.
Ocean Beach - Bikers, tattoos, piercing, antiques, the beach, a big pier...and Hodad's for hamburgers. About 8 miles west and north of downtown
Mission Beach - The beach area north of Ocean Beach, 8 miles north of downtown and home of Belmont Park, an old amusement part with an old wooden roller coaster. Home of OMBAC (Old Mission Beach Athletic Club) and the "Over the Line" tournament (softball played in the sand with 3 players on each team and a lot of beer).
Pacific Beach - The beach area north of Mission Beach, famous for Crystal Pier.
La Jolla - Pricey beach community about 13 miles north of downtown. Adjacent to a very nice park area and golf course, Torrey Pines.
Delmar - The beach area north of La Jolla and home of the Delmar Racetrack, about 20 miles north of downtown. Across Interstate 5 from the racetrack is an exclusive community, Rancho Santa Fe.
Solana Beach - The beach north of Delmar, and about 23 miles north of downtown San Diego.
Carlsbad - Home of Legoland
Oceanside - Adjacent to Camp Pendleton, a US Marine Corp training area
Fort Rosecrans National Cemetery at the tip of Point Loma - At the end of the Point is an historic light house and a great view to the east of all of San Diego.
On the coast adjacent to Camp Pendleton is San Onofre Nuclear Power Plant. Also in the vicinity is an Immigration Service Check Point, followed by Orange County.
Seaworld - Seaworld is Seaworld, available in a number of cities. Sea World is located just east of Mission Beach.
Zoo - The San Diego Zoo boasts the largest animal collection in the world
Balboa Park - the zoo is in Balboa Park, also museums, botanical gardens, park.
San Diego Mission De Alcala - Spanish Padre, Junipero Serra founded a string of missions up the coast, the first mission being the one in San Diego.
Mission Trails Park - east of downtown about 12 miles and the site of the first water reclamation project in the New World, and the Padre Dam. Very close to the offices of InternetCrusade.
Major Military Presence:
Naval Station, 32nd Street (Combatant and Amphibious ships)
North Island Naval Air Station in Coronado (Aircraft Carriers)
Naval Amphibious Base (Coronado)
Ballast Point (Submarines)
Miramar (Marine Corp Air Base)
Camp Pendleton (Marine Corp Training)
Fleet ASW School (Point Loma)
Marine Corp Recruit Depot (San Diego, MCRD)
Tijuana, Mexico - About 25 miles south...enter at your own risk, prepare for delays
Los Angeles Airport is 125 miles from San Diego off of the 405. Of course from there you are close to Beverly Hills, Hollywood, and lots of traffic.
Saul
Feb. 1, 2007
Categorized in: Travel Diary
Hi everyone,
I am doing Technology Workshops in the San Francisco Bay Area this week and this evening I am fortunate to be staying in the Stanford Court Hotel, which is in the Marriott Renaissance Family of Hotels. It is located on California Street, across the street from the Fairmount Hotel and next to the Mark Hopkins Intercontinental (home of the "Top of the Mark"). The area is known as Knob Hill.
On my first trip to San Francisco as a young boy in September of 1956 with my dad and mom and younger sister, we stayed in the Marine Memorial Hotel which is down a few blocks from where I am staying this evening. I was 7 years old at the time and our family was on our way back to Honolulu as my dad had just been transferred back to Pearl Harbor as the Special Services Officer and Varsity Basketball Coach for the Submarine Force Pacific (SubPac).
We were in San Francisco for a few days before we were to catch a USNS ship (Morton, an old troop transport) for a 5 day voyage to Honolulu. My mom and dad were anxious to take my sister and I to a place which was their favorite San Francisco restaurant during and after WWII, David's Delicatessen. We walked to David's from our hotel, walked in, and looked at the menu. My sister (who was 4 years old at the time) and I wanted hot dogs and hot dogs were not on the menu, so we walked out. We stood outside David's as my parents tried to figure out where we should go to eat. A man then rushed out of the restaurant, ran over to my dad, who was in uniform (he was a young Warrant Officer), and forced a five dollar bill into my dad's hand and said..."buy the kids something to eat." I remember being amazed because in 1956, $5 is a lot of money, especially to a 7 year old.
My dad, tried to explain to the man that he had money...that the kids wanted hot dogs, which were not on the menu, and he tried to give the five dollars back to the man. Not to be convinced...thinking my dad was just too proud to accept the money, the man uttered a few words, stuffed the money into my dad's pocket and ran off.
That was my first San Francisco experience which I remember to this day like it were yesterday.
Saul
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