Archive for the 'The Cheez-Whiz Prize' Category
Thompson joins Zillow’s growing partner outreach team, which includes Sara Bonert (director of broker services), Brad Andersohn (industry outreach manager), and recent addition Bob Bemis (vice president of partner relations). Together, the team advances Zillow’s goal of helping real estate agents grow and market their business.
Grow and market whose business?
This is precisely the kind of leadership I have come to expect from Jay since 2008 or so: The goat takes a left when the cattle take a right. If you don’t know what that means, you’ll probably be taking the right turn.
I’m killing comments on this post, because I don’t want you to soil yourself in public just because I’m the only person in this benighted industry who will tell you the truth.
Table talk from my email: A Judas Goat- yes? Got it.
Me: What’s the point of having friends if you can’t sell ‘em out?
Andersohn = ActiveRainiers
Bemis = MLS systems
Thompson = TwitBook losers
Coming soon: Project FUD at REBarCamp: Can you afford to be WITHOUT Zillow?
The window on integrity in real estate seems to be closing…
Our business is corrupt, so it’s no surprise that this is the only place on the net where you can find the other side of this story. This is me from a comment at Real Estate Industry Watch:
Whatever job they end up giving him, Jay Thompson has already delivered everything Zillow is paying for: His endorsement of their brand. Now they get to make the fallacious “Even-Jay-Thompson” appeal: Even Jay Thompson thinks you should piss away your money on Zillow’s advertising. Jay has yearned to be the Head Lemming of the RE.net since the passing of Joe Ferrara, but, as we saw in the Denise Lones fiasco, he lacked that sad little man’s taste for blood. Luckily, Zillow has provided him with an even better cliff off of which to drive his credulous “followers.” It’s sad to say, but they deserve each other.
We’ve seen this kind of self-dealing posturing from Jay Thompson before — and not just from him, alas. But eighteen months from now — when you finally wake up and say, “Wuh happened?!?” — this post will still be here, one of many warnings you chose to ignore.
And still more…
These are two comments I posted in response to a comment from Jeff Brown in his post on social media in real estate marketing:
Wow. I can’t think of a single observation in this comment that I can endorse as bearing some relation to fact. As we discussed in November of 2010, Jay Thompson tells some pretty big whoppers about his brokerage.
> a 1% conversion rate via their IDX leads
Those aren’t leads. Those are names — a lot of them fake names, I expect. Decent inquiries should convert at 50% eventually.
> 2011 produced around 7,000 leads
Somewhere a nose is growing.
> That’s around 70-75 closed sides
That is, two per head per year.
> I do suspect that in his market, Phoenix, a full time agent would probably need to close a side a month.
Because Starbucks only pays minimum wage.
Seriously, an agent closing fewer than 20 houses a year, on average, should find another job. He can do a lot better, hour for hour.
> I’m assuming a $150,000 price at 3% commission.
Much more likely to be quite a bit lower on price, with a sales commission of 2.5% being very common, often less. Most of Thompson Realty’s listings are short sales, so I would expect 2.5% to the listing broker to be very common.
> 34 X 12 = 408 closed transactions
237 for 2011, split across 31 licensees as of today. Shar Rundio, the pick of the litter by far, accounted for 55 of those. For the rest, that leaves about 6 closings per head, on average, half your estimate — but a 150% improvement over 2010. Why isn’t someone telling cloying lies about this remarkable growth in productivity?
(Nota bene: There may be some transactions closed outside the MLS. I do a few that way now. Note also that the Phoenix real estate market is 100% a Federated Govco basket case. These agents might do better in a market with actual real estate fundamentals in play.)
> Jay and the exceedingly high quality of agents he hires
Jay has one good agent — and it ain’t him.
> I’d love to know what they’re doing on SM
Schmoozing, like everyone else on TwitBook. They’re not making money.
> Russ Shaw closed 401 sides last year[….] I strongly suspect most of those were generated by sources other than SM.
Certainly not much more than 99%.
> I may be seeing Jay in Georgia next month[….] I bet he’ll have plenty to say.
No doubt. It will just be the product of elaborate fantasies.
Here’s my take, an impression that hasn’t changed much in a long while:
1. Jay Thompson is all hat an no cattle. He doesn’t know much, and much of what he claims to know is undefended gibberish.
2. TwitBook schmoozing is a terrible real estate marketing strategy. Anyone who says otherwise needs to post real numbers, not impressive-sounding bullshit.
3. By leading so many agents down the TwitBook path, Jay Thompson has contributed to the destruction of hundreds or thousands of real estate careers.
And, of course, that’s why he’s bailing on real estate sales.
As icing on the cake, he can come back to screw up the careers of the lingering survivors with a big Z on his chest.
The second comment:
I’m coming back to this, Jeff, because I think it’s important.
There is nothing personal about this for me. This is business, and this particular item of business — vendors and their shills deliberately leading the grunts on the ground into error — has always been the business of this blog. It’s been your shining grace here, and Russell’s when he wrote here, and it shows up everywhere in our archives.
Agents and brokers have always told bullshit stories about their results — always. But the impact of their fabrications were limited, both because the meme-stream was local and ephemeral and because any claims that mattered could be easily checked.
This is what the internet has changed — particularly TwitBook. All the vendorsluts are having a heyday, of course, buying virtual cocktails and signing ironclad contracts. But by now water-cooler exaggerations are turned into Holy Writ by the amplifying power of the echo chamber.
That much is very bad just by itself, but the whole point of this exercise, from the very beginning, has been to DISINTERMEDIATE THE BEE-HOTCHES!
I wish Jay and Francy nothing but the best as people, but becoming an old-school Big Promises broker, becoming the NAR’s technology shill, and now selling out his TwitBook following to Zillow — these are all the polar opposite of the kinds of actions we should be taking, encouraging or applauding.
And with that I move on. I feel like the get of Sisyphus and Cassandra, and I’ve got better things to do with my time. This is my argument to the RE.net: Jay Thompson is now beyond all doubt a vendor. If schmoozing with him puts a warm place in your heart, I hope you don’t come to discover a corresponding empty place in your wallet.
By now I think I might be beating a dead horse. My objective is to have everything I have written on this topic in one place. Among the many ugly side-effects of the TwitBook phenomenon are back-biting, back-stabbing, clique warfare and broadcast whispering campaigns. I stand, not high it may be, but alone. There is nothing I have to say about anything that I am not willing to say in public, in full view, at full voice — and then stand behind forever. I am sick to death of all of these smarmy games, but I am also more than happy to show you how to oppose them.Related posts:
Fatal error: Call to undefined function related_posts() in /home/splend10/public_html/bloodhoundrealty.com/BloodhoundBlog/wp-content/themes/in3d-10/archive.php on line 60