Are you single?

This was a fantastic program.  Such good points with great humor.

Hi Les,

I just wanted to clarify and say that I didn't say comedy should be left to the professionals.  I said comedy should be left to those that are funny.  

I don't think the 16 Minutes piece was funny and I continue to think that making such a big deal out of the Redfin 60 Minutes piece is not good for the industry for a couple of key reasons.  First, it makes the industry look like it can't do a good job of standing on its own merits - it makes us look catty and immature.  Second, it doesn't do any of what you mentioned above - which is illuminate the complexities of the transaction that real estate agents can help home owner's negotiate.    

Let me just say for the record that (1) I own a full-service, full fee real estate company (along with a mortgage company) and (2) I would only use a full-service, full fee real estate company when buying or selling my home.  I would never try to do it myself; particularly in a down market (which we are in here in So. Cal).  I believe that like any service industry the best of the real estate industry do a great job for their clients.  I also believe that many are bad at what they do.

I only defend Redfin because I don't believe that they are a paradigm shifting enterprise.  I look at them like H&R Block or pre-paid legal services.  There is a niche for them and if they can make it work, good for them.  But just because they operate on the discount end of the spectrum doesn't mean that full-service is in jeopardy of extinction.  I feel that picking on the new kid only makes the full-service, full-fee position look like there is something we are ashamed of, or can't justify - which isn't the case.  

If you are good at what you do you should have no problem saying "I'm worth it." If you can't say it with confidence then you should simply get better at what you do until you can.

Best,

Morgan

I think lampooning the outrageous claims of revolutionizing the industry was brilliant.

Satire is a powerful tool to get to the truth.

The problem isn't with us justifying our claims to be worth what we charge, the problem is the totally unjustified claims of a company that hasn't pulled its weight, and is based on a flawed business model, being touted in the media as a revolutionary force in the industry - and doing so by denigrating the very industry and business models that makes their little blustering stand possible.

When someone puts on a checkered coat, wears pants above their ankles and sports a bowtie, then claims to be the next sex idol because the current sex idols have gone out of style, lampooning is called for.

You may just be too sexy for your microphone!

Ditto to what Mike said (no, not the part about are you single).

Morgan, you make some good points but it seemed to me that Les Stool wasn't so much "picking on" Redfin as objecting to the general tenor of the 60 Minutes interview and the lack of balance. I guess we can all take from it what we wish. I just wonder what the average consumer is taking away from it.

Morgan:

Lighten up.  Please. I want to see more of Les Stool.

Very good

Mike,

What does lamp-posting have to do with this?  Here in Fla, we have discount Dol-fins to compete with but thank goodness all the "flippers" are gone to Savannah.

Les, you've done a good job on 16 Minutes.  Bravo!  Better look out, though; I think Mike has his eyes on you.  WOAH!

John

Well my 2 cents is yes the discount brokers are more misleading than enything else. THe teach the public they can do it themsleves with little assistance when really the other agent ends up working harder for the no service agent. Plus it's proven that sellers can't do well by themselves, look at the higher number of FSBO sellers and smaller percent selling than over last year. THis means more of the public is willing to try and less are succeeding. This is proof to the misleading advertising of the discount brokers. They don't post the other facts like that they may not be able to sell the home for as much and that marketing counts in a cometitive market, or that them not being full service could leave them vunerable to many problems. They are just bottom ffeding off the FSBO market and I'm not a fan of no service brokerage, if they aren't going to give service they shouldn't have a liscense. Out license should mean something and realistically I don't show their homes unless It is necessary.

Over the past 18 months or so, I've seen fewer FSBO's and discount agencies in my area.  Why?  Well, as an example, every day I drive my daughter to school I pass a vacant home listed with a discount broker.  The sign was knocked down by a snow plow some time ago.  It's still in the same position.  Flat. Hello!  It's Memorial Day!  This discount agency is three towns away and hasn't passed it's own sign since our last snow in February.  

Now that the market is more competitive, our expertise, technology, marketing and efforts are more in demand.  

Hey Les,

There are lots of funny people that aren't professional comedians, but I digress.

On my last comment you have my thoughts exactly right.  Let me be clear here - I think from a marketing standpoint - looking at it from Point2's perspective - the piece is brilliant.  You have endeared your target audience by sympathizing with them.  This is slam-dunk fodder for 80% (or more) of the Realtor crowd who felt slighted and/or angered by the 60 Minutes piece (and rightly so I might say).  There is no risk for the people who created it.  Why?  Because you know that your primary audience (Realtors, Point2's customers & customer base) have a very sensitive spot on the whole Redfin issue.  It is their egos and it is their insecurities that make them worry or get angry about Redfin.  I don't think there is any secret there.

Most marketing and promotion plays (or tries to play) on specific human emotions.  I don't think its unprofessional to say that a creative work plays to certain emotions to illicit responses.  If the video wasn't made to illicit response based on a large portion of Realtors feeling slighted or cheated, then why was it made?  And correct me if I'm wrong but anger over lack of recognition and fear are both components of ego and insecurity.

So I don't think anything I said is unprofessional. I think it more akin to a movie critic panning a film.  It's only my opinion and that's all.  

Cheers,

Morgan

Ego and security? By Redfin? Guffaw!

I simply thought it was lucricrous-- as a critic watching a staged attempt to stoke the fire of envy based on a misperception of what real estate agents make, on average, and a misrepresentation of the commission structure, as if 6% is etched in stone and is not negotiated a million times a day.

Threatened by Redfin and 60 Minutes? Now, THAT is funny -- The Gas House Gang and Barney Phiffe threatening?

I loved it so much that I put the clip on my personal My Space page. I would love to see more of Les Stool.

It was great!

While I do feel that 60 Minutes was biased I do not understand why REALTORS are being so fearful and negative about the discount brokers. Our MLS allows all brokers to input their listings into our system. Of course they all must join the REALTOR organization. It is considered restraint of trade to do otherwise. I am a full time Broker and do not work as a discount broker and I provide the best service and knowledge to my customers.They know that because of my continuing education, knowledge and negotiating skills that I can get them the highest price for their property and for buyers the best price possible in any market. It varies in our area but for the most part we do not receive 6% commission anymore. The agents that are stuck on that percentage are losing business. I sometimes give back monie to my customers if I feel they need the help. Although it has to be my choice not the customer's choice. The fact is, I feel that a majority of buyers and sellers want that face to face contact and skills of a good professional real estate agent. The discount brokers in my community have only held on to a small % of the market share. I guess there is room for everyone. I live in the S.F. Bay area. Some cities have a hot market and others are slow.

Jean, this is not about discount brokerages, per se, but about the ludicrous and politically movitated claim that the Redfin model is revolutionizing the real estate industry. At least from my perspective that is what it is about.

Don't mistake disdain for and amusement over a flawed business model being portrayed as giant-killer and savior of the consumer as fear and negativity. I am fearlessly and positively delighted they exist.

What would we do without living proof that discounting service is fatal in the service business?

How many times does it take the consumer to learn that price means nothing in the absence of value? Considering Redfin's lack of ability to turn a profit, they may have learned by now.

John,

I am surprised at you. "Woah" is spelled "whoa". And you think Les is not cute? Yeah, right.

Oh my good gracious Lord Scott... tell us what you realllly think!  But remember...

Sticks and stones

May break my bones

But names will always hurt me.

Oh yes they will

They always do

They get to me

They come from you!

They bite and sting

They give such pain

They twist and churn

They burn like flame.

If I were rubber

And you were glue,

They'd bounce off me

And stick to you!

~ G. B. Lipson

D..i..g..n..i..t..y should be our battle cry :)

Freda Hoskins, Realtor®

Sandpoint, Idaho

http://www.idahomesnorth.com

I'm sorry Freda, did I vent a little? ;)

Marry me gorgeous!

Hey, she's taken, Bub!

Les:

YOU THE MAN!

And...when do you get your Actor's Equity Card? You're a natural.

My brother is an actor, he can hook you up with a real good agent.

Better not though, we need you as a real estate colleque with work like this!

Very well done!!!

Since when was finding a house in the MLS for a buyer or making a flyer for a seller the most important part of our job?  Most news stories need a spoof for balance.

Les, great work, and has previously been said, do a few more things from time to time, it is much more clever than fsbo the dog. It was nice to see a professional defense of real estate agents with clever SNL style humor.

As to Redfin, they aren't revolutionary in the least, they just want to make money in an industry that requires a lot of work without doing any of it. That concept hasn't worked long term in any business that I know of and I certainly hope it doesn't in the future.

The N.A.R. was not very pleased with the 60 Minutes one sided interview that was supposed to include interviewing N.A.R. officers and members. Here is what the N.A.R. had to say about the 60 Minutes piece in an article in their REALTOR Online Magazine

---> http://www.realtor.org/RMODaily.nsf/pages/News2007051401?OpenDocument

It does not seem like CBS and 60 Minutes was much interested in presenting the facts and error free information as they relate to the N.A.R. and all of us as REALTOR members.

you made our day!

Love,

Red Reef Realty.com

Les, it was fantastic! How creative. I loved it!!!

You people are taking things in life too serious. And you folks that don't have your picture displayed. You freak me out. Got to admin and re- enter your photo. Or a logo or something.

Point 2 Rocks!

And Les, you might want to consider auditioning for Saturday Night Live.

I'll put my photo up as soon as I can get a great "do" like Les's blonde tresses. Stunning, in every sense of the word.

Lawrence and the NAR said it for me, and nicer.  I have always expected the media to present stories that are more 1-sided, but CBS and 60 Minutes were so 1-sided it was pitiful.  I believe that the 1.3 million members of the NAR should just block CBS on their channel controls.  Maybe once they lose 1.3 million viewers, they will try a little harder to present a more balanced picture of Realtors and the jobs we do than they did this last time.  You don't see Realtors slamming "The Job of A News Correspondent & What They Get Paid to Report".

It is said, the best advertizement is "Word of Mouth" .

Realy, think about this, these discounters make us look good!  

Every dog has his day & gets the bone, but what about those that have been left snarling?

How many expired listing or unsold frustrated sellers have you spoken with that have actualy tired these type of services. The majority we hear from our frustrated , felt they where lied to, and misleaded in the wrong direction. I think that that kind of word of mouth will sail far and fast quickly.

Most, unhappy people  will tell 100 people about about the bad & ugly, and will only tell a few about the good. Word of mouth will prevail.

I wonder just how many viewers that where watching that report  and had a bad deal with a discounter and said yeah right, sure it works just like that!  

There will always be those that need, that type of service and will maybe get it sold, but again, what will that word of mouth be? My best guess will be that most would say they would never do it again, the lack of communication and understanding what is going on, and losing the sale at the closing table, all those things will happen.

There will be those that had good venture, say yeah , I would do it again, I have sold and bought many and I don't mind doing everything myself I have the time and it works well for me.

You get what you pay for,  the problem is most people don't understand the difference, all they see is the  savings and become very tunnel visioned.

Maybe it would be more productive to have posting of exactly what some have gotten!

The latest I was told was " They never told me what they didn't do, only what the did do. Come to find out everything they didn't tell me was, what I needed!"

I know this thread is about the 60 min bias program and unfair reporting, to me it looked more like an info-merical than news report.  I was insulted, that they made us all look like robbers, I hope one  day too, I could feel so guilty about the money I make , that I must change because it is just so unfair to make that much. Come on realy , do you think anyone bought that line ????? If so, they probaly will like the service they get.

What I thought was funniest was that it appeared Les and the Redpin 'agent' were BOTH wearing the same unstyled wig.

Could this be a new fashion trend?   ;)

This is just hilarious! Well done and great creativity.

60-minutes has always had a political agenda and Realtors are just their latest target. As with Wal-Mart, Edwards, and the Unions it is all about trying to take away from anyone who might have actually earned something through hard work. The implication from 60-minutes that all agents are making millions a year in profits is at best misleading.  Instead of saying the industry made $60 Billion Dollars last year she should have quoted the average annual income of an agent.  Of course that would not have served the purposes of the reporting to puff up RedFin as the self appointed savior of the consumer.

Well I would like to say more but the yacht is running, my 7 kids just came in from another year at Yale, and the party for 700 I am throwing to celebrate the start of summer are all waiting.  Man RE is Great!

I thought it was bloody hillarious. I had a talk with an agent friend today who lost a listing to a discount broker. He was upset that the customer had praised him for his listing presentation, raved how professional he was and how knowledgable he was about the market plus his experience was impressive....and then they called someone else. My friend was depressed and annoyed. I said, "I have just the thing." and I emailed him your clip. I told him not to worry because when they can't sell they'll be back saying that they should have gone with him in the first place. Can't wait to talk to him tomorrow to see if he watched it. His sense of humor may not be the same as mine (my dry British humour) but I'm sure he will relate.

p.s. Loved the hair..who's your stylist? Nancy Grace?

From my understanding, the 60 Min's piece is just another example of "drive-by media" which Rush Limbaugh so often speaks about.

I believe the media needs to be held accountable for misleading stories... stories are not necessarily "truth" but in fact are often just the opposite.

Good comments... keep up the good work

hugh

I felt that the story was of great benefit to me as a full service real estate agent. I've read each and every post, the entire 60 minutes story & video and watched Les' parody and found valuable information in all of it. Morgan stated she felt that we might have had our ego's bruised a bit, she's probably right. But with such a one-sided effort on the part of CBS many probably are entitled to that hurt. Personally, this Redfin is just another company, period! All of you are my competition, but I don't go crying because each of you are using trickery or resources I don't have, or do all your work from an office. I just use my skills and experience and do the very best I can for each person I work for when I'm fortunate enough to land a customer.

The very best way to to beat your competition is to know your competition. Study this, study them and silly shows like 60minutes will not effect you in the least. In fact until I saw this blog I never even knew about the airing of either video, and no one brought it up! You're giving them too much credit.

As a registered real estate school instructor and corporate trainer I value information and I value what an informed person can accomplish. I've helped thousands now to achieve success in real estate, a little company in Seattle is not going to bother me. I did want to knwo though - if they aren't leaving the office - how do they get their comps verified? Zillow.com? Maybe the lesson here is then, as the consumate  professional agent, your customers need to know how they were comped by your competition!!!

It's just another friendly day in the neighborhood - would you like to be my friend!

What happened to the 16 minute video this blog is about? You worked me up reading all the articles but there is no video to see...

It appears to have been removed by the person whom posted it!