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scaredyclassic.
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January 24, 2012 at 2:27 PM #736695January 24, 2012 at 2:33 PM #736696
sdrealtor
ParticipantUmmmmm…ziprealty is on life support in case you didnt know. Redfin while doing better is an extremely small niche player.
January 24, 2012 at 2:35 PM #736697markmax33
Guest[quote=flu][quote=markmax33][quote=sdrealtor]Sorry to say you wont ever see that but at least we know your RE fantasies now.[/quote]
The ideas I posted will absolutely happen slowly over time. If you asked a RE agent 5 years ago if Redfin or Ziprealty would be as successful as they have they would have told you no way. Several other industries with high paid sales positions have evaporated over the years because the internet has automated the processes and it will happen in RE too. Look at stock traders, look at turbotax, look at legalzoom. The market will readjust.
The RE market will eventually completely collapse and liquidate. It has happened every time before and will happen again. It’s hard to say what and when the catalyst will be but it’s coming. It is silly not to look at history and say it won’t repeat itself. Cash will be king. We ain’t there yet.[/quote]
[quote=flu]
1. I think you’re really committing financial suicide if you think cash will be king.
[/quote]During the RTC sales in the 89/90 timeframe people were buying lots of condos at the beach for $10k each with cash. People were buying homes in Florida for a dollar. Get your facts right. Obviously I’m not impying to be in cash right now, I’m implying having it in an investment you can liquidate for when you need it.
[quote=flu]
2. Ziprealty, Redfin successful? You’re joking right?
Dude, that’s some good weed you’re smoking….
[/quote]Online automation has transformed every sector. There are a couple of extra barriers to entry in real estate but they won’t last.
[quote=flu]
3. History has not shown cash is king. At least not cash in a country with a weakening currency. Haven’t you been listening to Ron Paul?
[/quote]Obviously I’m not impying to be in cash right now, I’m implying having it in an investment you can liquidate for when you need it. I’m buying precious metals don’t worry.
[quote=flu]
4. Meanwhile, you can *hope* the United States falls into some dictatorship, and a single guy has his head screwed on right, and fixes all the economic issues facing the U.S. by force…And then hope that at the time we have more bombs than china when we give them the middle finger. But unless that scenario plays out, our dollars will be trashed, and U.S. cash clearly won’t be king.
[/quote]See above.
[quote=flu]
5. Sitting here and posting about the sky is falling really isn’t gonna help your own situation imho. If you want to take action, time to start in your own household.[/quote]
Riiiiight… Buy now with the massive supply on the books. Good one Sir! Econ 101 – supply and demand. It has to hit the market and will.
January 24, 2012 at 3:39 PM #736700Participant[quote=sdrealtor]Ummmmm…ziprealty is on life support in case you didnt know. Redfin while doing better is an extremely small niche player.[/quote]
Hmmmm…..no response
January 24, 2012 at 3:47 PM #736699
CoronitaParticipant[quote=markmax33][quote=flu][quote=markmax33][quote=sdrealtor]Sorry to say you wont ever see that but at least we know your RE fantasies now.[/quote]
The ideas I posted will absolutely happen slowly over time. If you asked a RE agent 5 years ago if Redfin or Ziprealty would be as successful as they have they would have told you no way. Several other industries with high paid sales positions have evaporated over the years because the internet has automated the processes and it will happen in RE too. Look at stock traders, look at turbotax, look at legalzoom. The market will readjust.
The RE market will eventually completely collapse and liquidate. It has happened every time before and will happen again. It’s hard to say what and when the catalyst will be but it’s coming. It is silly not to look at history and say it won’t repeat itself. Cash will be king. We ain’t there yet.[/quote]
[quote=flu]
1. I think you’re really committing financial suicide if you think cash will be king.
[/quote]During the RTC sales in the 89/90 timeframe people were buying lots of condos at the beach for $10k each with cash. People were buying homes in Florida for a dollar. Get your facts right. Obviously I’m not impying to be in cash right now, I’m implying having it in an investment you can liquidate for when you need it.
[quote=flu]
2. Ziprealty, Redfin successful? You’re joking right?
Dude, that’s some good weed you’re smoking….
[/quote]Online automation has transformed every sector. There are a couple of extra barriers to entry in real estate but they won’t last.
[quote=flu]
3. History has not shown cash is king. At least not cash in a country with a weakening currency. Haven’t you been listening to Ron Paul?
[/quote]Obviously I’m not impying to be in cash right now, I’m implying having it in an investment you can liquidate for when you need it. I’m buying precious metals don’t worry.
[quote=flu]
4. Meanwhile, you can *hope* the United States falls into some dictatorship, and a single guy has his head screwed on right, and fixes all the economic issues facing the U.S. by force…And then hope that at the time we have more bombs than china when we give them the middle finger. But unless that scenario plays out, our dollars will be trashed, and U.S. cash clearly won’t be king.
[/quote]See above.
[quote=flu]
5. Sitting here and posting about the sky is falling really isn’t gonna help your own situation imho. If you want to take action, time to start in your own household.[/quote]
Riiiiight… Buy now with the massive supply on the books. Good one Sir! Econ 101 – supply and demand. It has to hit the market and will.[/quote]
Yawn, it’s getting old really mark….Just stick with online poker will you?
Let’s put it this way. You’re cheaply discounted online choicey beachfront property isn’t gonna happen. Really good deals still get swept up by people with deep pockets (and yes these folks do exist)…So we’ve been here before, 50%+ off on beachfront ain’t gonna happen. And in other parts of S.D. 50% has already happened.
And let’s face it, you’ve relocated into SoCal recently. I’ve been in SoCal and NorCal all my life, so I’ve seen the 90ies correction here….You’re kinda exagerrating on what happened then.
But that’s fine. We’ll see.
January 24, 2012 at 4:08 PM #736707ParticipantHmmm…online automation has transformed every sector. Of course it has. Last week, my neighbor had online bypass surgery. House on fire? Call the online fire department. Thats all for now, I gotta run and get my online haircut.
January 24, 2012 at 4:26 PM #736708Guest[quote=sdrealtor][quote=sdrealtor]Ummmmm…ziprealty is on life support in case you didnt know. Redfin while doing better is an extremely small niche player.[/quote]
Hmmmm…..no response[/quote]
I really don’t have their financial statements so I can’t verify it. I know all my friends under 30 use it to look stuff up. That’s enough for me to know the inevitable is coming.
January 24, 2012 at 4:29 PM #736709Guest[quote=sdrealtor]Hmmm…online automation has transformed every sector. Of course it has. Last week, my neighbor had online bypass surgery. House on fire? Call the online fire department. Thats all for now, I gotta run and get my online haircut.[/quote]
The problem with that is those are skilled people actually doing something with their hands. If you automate the paperwork, have online tours, etc you can easily replace a RE agent. It’s insanity to pay them 3% of a $1M transaction in a hot market. You can send a 23 year old marketing chick to the house and pay her $20/hr and have better results if you get it automated properly.
January 24, 2012 at 4:31 PM #736711Participant[quote=markmax33][quote=sdrealtor][quote=sdrealtor]Ummmmm…ziprealty is on life support in case you didnt know. Redfin while doing better is an extremely small niche player.[/quote]
Hmmmm…..no response[/quote]
I really don’t have their financial statements so I can’t verify it. I know all my friends under 30 use it to look stuff up. That’s enough for me to know the inevitable is coming.[/quote]
Lots of people used pets.com and webvan also. Traffic doesnt always mean a viable business but you know that dont you? Yahoooooooo!!!!!!!
January 24, 2012 at 4:33 PM #736710Participant[quote=markmax33][quote=sdrealtor]Hmmm…online automation has transformed every sector. Of course it has. Last week, my neighbor had online bypass surgery. House on fire? Call the online fire department. Thats all for now, I gotta run and get my online haircut.[/quote]
The problem with that is those are skilled people actually doing something with their hands. If you automate the paperwork, have online tours, etc you can easily replace a RE agent. It’s insanity to pay them 3% of a $1M transaction in a hot market. You can send a 23 year old marketing chick to the house and pay her $20/hr and have better results if you get it automated properly.[/quote]
The problem is you can only autmate so much in a RE transaction. Every one is different and thats alot of what you pay for. Someone who knows how to handle the different things that pop up. You could do 10 transactions yourself or with hot marketing chicks and be fine. Then wham. Please refer to Unpermitted addition thread. End of story
January 24, 2012 at 4:36 PM #736712Guest[quote=sdrealtor][quote=markmax33][quote=sdrealtor][quote=sdrealtor]Ummmmm…ziprealty is on life support in case you didnt know. Redfin while doing better is an extremely small niche player.[/quote]
Hmmmm…..no response[/quote]
I really don’t have their financial statements so I can’t verify it. I know all my friends under 30 use it to look stuff up. That’s enough for me to know the inevitable is coming.[/quote]
Lots of people used pets.com and webvan also. Traffic doesnt always mean a viable business but you know that dont you? Yahoooooooo!!!!!!![/quote]
I know the Tax industry, Law industry and other paperwork heavy industries have all been transformed. Yahoo all you want, but RE is ripe for transformation.
January 24, 2012 at 4:42 PM #736713Guest[quote=sdrealtor][quote=markmax33][quote=sdrealtor]Hmmm…online automation has transformed every sector. Of course it has. Last week, my neighbor had online bypass surgery. House on fire? Call the online fire department. Thats all for now, I gotta run and get my online haircut.[/quote]
The problem with that is those are skilled people actually doing something with their hands. If you automate the paperwork, have online tours, etc you can easily replace a RE agent. It’s insanity to pay them 3% of a $1M transaction in a hot market. You can send a 23 year old marketing chick to the house and pay her $20/hr and have better results if you get it automated properly.[/quote]
The problem is you can only autmate so much in a RE transaction. Every one is different and thats alot of what you pay for. Someone who knows how to handle the different things that pop up. You could do 10 transactions yourself or with hot marketing chicks and be fine. Then wham. Please refer to Unpermitted addition thread. End of story[/quote]
Your example makes no sense. My technology would use Google images to compare the footprint of the home to check for unpermitted additions and align that with City permits. I would hire a $20/hour guy to verify every home had permits inside the home. I think that’s called a home inspection, and not something the RE agent does anyway. There’s little value added by a RE agent that can’t be replicated at a much lower price. $30,000 for a $1M is ridiculous especially in a hot market.
Don’t worry, I’m an Engineer. I also think that a major part of my work will be automated one day in the near future too. I’m not just attacking you as RE Agent.
January 24, 2012 at 4:50 PM #736714ParticipantMy example makes all the sense in the world. There is some guy on this board crying because he is in deep shit. Every transaction is different and skill levels of agents are different. you seem to think that its just a few papers and away we go which isnt reality. Take the case of the unpermitted issue guy. Most agents wouldnt know what to do with that and honestly I dont know that i would have either (though anytime I see additions I make sure my client goes to city hall to check permits). The point is there are agents who would have known how to deal with that properly and having the right one would have made all the difference in the world to that guy.
You can automate trades of stock because a share of GE is a share of GE. You can automate basic legal forms too but you cant automate complex litigation cases or consitutional law cases.
Houses are unique and automating everything would be cost prohibitive. Could it be done? Possibly but doing so would be more expensive than the return and who do you think is capable of doing that? It would have to be your GOV. No for-profit entity could make that work profitably.
RE has already been transformed quite a bit and I know more is coming. I say bring it on. But I also know it will nhever be fully automated to the extent you have wet dreams over. It just doesnt make sense to do so economically.
January 24, 2012 at 4:51 PM #736715Guest[quote=sdrealtor]My example makes all the sense in the world. There is some guy on this board crying because he is in deep shit. Every transaction is different and skill levels of agents are different. you seem to think that its just a few papers and away we go which isnt reality. Take the case of the unpermitted issue guy. Most agents wouldnt know what to do with that and honestly I dont know that i would have either (though anytime I see additions I make sure my client goes to city hall to check permits). The point is there are agents who would have known how to deal with that properly and having the right one would have made all the difference in the world. You can automate trades of stock because a share of GE is a share of GE. Houses are unique and automating everything would be cost prohibitive. Could it be done? Possibly but doing so would be more expensive than the return and who do you think is capable of doing that? It would have to be your GOV. Not for profit entity could make that work profitably.[/quote]
You could have easily prevented it for that guy with software and the right business plan. The software would pull all permits to a guy walking around in the field verifying that stuff on a full time basis. Problem solved. Like I said, the hurdles won’t be around for long. There’s lots of money at stake, somebody will figure it out.
Groupon figured it out on a local level, somebody will solve RE on a local level and get all the documents accessible.
January 24, 2012 at 4:55 PM #736716Guest[quote=sdrealtor]You can automate trades of stock because a share of GE is a share of GE.[/quote]
This same arguement was used by the stock traders before they went poof and the tax consultants before they went poof. It’s just not valid. Programmers will figure it out. They may need a venture capitalist and some funds but they’ll get there.
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