{"id":539,"date":"2006-10-15T07:14:07","date_gmt":"2006-10-15T14:14:07","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=539"},"modified":"2006-10-15T07:17:56","modified_gmt":"2006-10-15T14:17:56","slug":"pinocchio-made-flesh-crafting-a-real-business-from-the-splintered-ruins-of-the-real-estate-industry","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/539\/pinocchio-made-flesh-crafting-a-real-business-from-the-splintered-ruins-of-the-real-estate-industry\/","title":{"rendered":"Pinocchio made flesh: Crafting a real business from the splintered ruins of the real estate industry . . ."},"content":{"rendered":"

I had email late last night night from Mark Nadel, author of the AEI-Brookings Joint Center white paper on real estate commissions that has been cited lately by the Freakonomics blog<\/a> and by<\/a> weblogs<\/a> all<\/a> over<\/a> the<\/a> RE.net<\/a>:<\/p>\n

Greg,<\/p>\n

I wish I had discovered your BloodhoundRealty blog earlier. If so, I would have referenced you in many of the footnotes of my 75-page law review article (including almost 400 footnotes) criticizing the traditional broker commission rate structure. If and when you have the time, I would love to get any criticisms, corrections, suggestions, etc., that you (or any of your readers) might have to my piece.<\/p>\n

It is posted [here]<\/a> and has been recommended by the Freakonomics blog.<\/p>\n

Keep up the good work and I will be including appropriate references to your work in the revised version of my article.<\/p>\n

Take care,
\nMark S. Nadel<\/p><\/blockquote>\n

That’s very sweet, and I hope he’s writing notes like this all across the enblogged globe, most particularly to Our Lady Ardell<\/a>.<\/p>\n

For my own part, I think we are about to witness a revolution. BloodhoundRealty.com is at a de facto<\/i> flat fee for buyer representation right now, and we’ll be rolling the idea out in stages starting tomorrow. In the short run, I think we’re gong to take a lot of business. In the long run, I think the co-broke is going to settle down to a flat fee for everything or nearly everything — and from the high-end first. In other words, my view is that we’re buying a short-term advantage and we’ll have to be ready with even better ideas when the market responds.<\/p>\n

This is where we’ve been since we’ve been here<\/a>: If there is any room left in the real estate marketplace for personal-service representation, it will have to be insanely great personal-service representation. One of the things we’re always looking for, as a business strategy, is the way to attack on two flanks: We bring much better service and benefits at a much lower cost. Whichever argument you want to make against us, you’re already beat.<\/p>\n

What’s left — three years out, five years out, ten years out? Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I had email late last night night from Mark Nadel, author of the AEI-Brookings Joint Center white paper on real estate commissions that has been cited lately by the Freakonomics blog and by weblogs all over the RE.net: Greg, I wish I had discovered your BloodhoundRealty blog earlier. If so, I would have referenced you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[3,4,6,5],"tags":[],"class_list":["post-539","post","type-post","status-publish","format-standard","hentry","category-blogging","category-disintermediation","category-marketing","category-real-estate","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":370,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/370\/coming-tuesday-the-real-estate-webloggers-blogoff\/","url_meta":{"origin":539,"position":0},"title":"Coming Tuesday, the real estate webloggers blogoff . . .","author":"Greg Swann","date":"September 23, 2006","format":false,"excerpt":"First, Sellsius\u00b0 gave us 50 new posts in one day. They threw down a gauntlet: Could anyone do 101 new weblog entries in a single day? Ardell DellaLoggia took up the challenge and dared me to compete against her. We agreed on Tuesday, September 26th, for the blogoff. We'll start\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1308,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1308\/the-carnival-of-real-estate-28\/","url_meta":{"origin":539,"position":1},"title":"The Carnival of Real Estate . . .","author":"Greg Swann","date":"April 16, 2007","format":false,"excerpt":"...is at Renthusiast, in London. The affair takes on an international flair, but, for good or ill, real estate weblogging is still largely an American phenomenon. Top prize went to China Law Blog for \"Real Estate Investments in China Seminar.\" BloodhoundBlog scored somewhere in the middle of the pack with\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":433,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/433\/blogoff-post-56-ask-the-broker-what-should-i-look-for-when-im-evaluating-a-neighborhood-to-buy-in\/","url_meta":{"origin":539,"position":2},"title":"Blogoff Post #56: Ask the Broker: What should I look for when I’m evaluating a neighborhood to buy in . . . ?","author":"Greg Swann","date":"September 26, 2006","format":false,"excerpt":"This is hard, so I'm going to make it easy:What should I look for when I'm evaluating a neighborhood to buy in?Because of the Fair Housing Laws, this is actually a difficult question to answer. I can give you some useful hints, though. Visit your prospective neighborhood at 9:30 at\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1068,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1068\/the-blogfather-part-ii-i-could-have-blogged-all-night\/","url_meta":{"origin":539,"position":3},"title":"The Blogfather Part II: I could have blogged all night . . .","author":"Greg Swann","date":"February 23, 2007","format":false,"excerpt":"The folks at ActiveRain are putting together a contest. It's Pygmalion for webloggers, wherein experienced real estate webloggers take eager young blogging caterpillars into their tutelage, and, Henry Higgins-like, bring forth beautiful blogging butterflies in a few months' time. The winning pair of bloggers will split $5,000 amongst their favorite\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":895,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/895\/apple-iphone-round-up\/","url_meta":{"origin":539,"position":4},"title":"Apple iPhone round-up . . .","author":"Greg Swann","date":"January 14, 2007","format":false,"excerpt":"This is nothing like everything, just a summary of news -- and comic relief -- of interest to the real estate community. Dave Winer, among others, objects to the idea of the iPhone being a closed box. Okayfine. But it's important for end-users to understand that the iPhone will run\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/194\/mapstopia-a-strong-first-day\/","url_meta":{"origin":539,"position":5},"title":"Mapstopia: A strong first day . . .","author":"Greg Swann","date":"August 9, 2006","format":false,"excerpt":"We left the visible work visible. If you click on the \"Go\" button, you'll get a Google push-pin at our house. If you click on the link in the text balloon, you'll get the web page I made for our house when we bought it. If you type in any\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=539"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/539\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}