Blogger Spotlight: The LoftNinja Is ProofThat There Really Is Hope For This Industry

I'm still trying to wrap my brain around the newest real estate alphabet soup mix (ILD) that has the drawers of the DOJ in such a knot, and the issues and controversies of the industry just seem to grow without an end in sight. I have renewed hope in the real estate industry these days. There is a fountain of good energy and goodwill that emanates from the members of the Real Estate Blog Squad. Many (or most) of us have never met. As I meet the bloggers online and on the telephone I am increasingly encouraged that good sense will prevail in this industry. A recent in-person visit with the LoftNinja at an art show in Lower Manhattan prompted me to give Optimism the head place at my table.

LoftNinja designed the REBS poster. His innovative fauxtography speaks to his philosophy:

"You cannot separate an organism from its environment. This is an attempt to bring mine-as it (and I) change- to you."

He blends art with real estate advertising and he is developing a new blog aggregator for the REBS (watch for more news on this soon). He is articulate. He is a real estate agent, an anthropologist, and an accomplished fauxtographer. I am intrigued as he talks about the gentrification of Brooklyn. I am encouraged when I hear him reflect about industry ethics. I am hopeful when I consider that this is a young man to whom the industry can look  for leadership in the future.

Comments

[Robert Fleckter]

The LoftNija's work look great. For another site which is on the "bleeding edge," check out www.uscondex.com . Their site is clean and interesting. The Map Search and Listing engines are cool!

Rob

[Carol Williams]

How does the Loft Ninja keep his head from exploding with all that creativity?

[Jason Graves]

I look forward to hearing more about REBS.

I am glad to hear of your renewed faith in the real estate industry! You have quite a presence I'm discovering (And enjoying reading about). Like you, I'm trying to wrap my brain around the DOJ charges that have surfaced and what we need to do to ensure our clients are well cared for. I posted a note earlier on my Blog and I'd like your opinion. http://jasonbgraves.blogspot.com/

Thanks and I look forward to further exploring your blog!

[Realty Freak]

To answer your question of what has the "drawers of the DOJ in such a knot", I hope you have read the actual DOJ complaint and not just the press and trade journal rhetoric.

What I think most people miss is this. By removing listings from other brokers websites, big brokers are really only effecting those brokers who obtain the majority of their business from operating a VOW website. These VOW companies offer an alternative type of service for the consumer, one that is often less expensive and is very threatening to the status quo.

Some facts. The chairman of the board of RE/MAX, the nation's second-largest real estate franchisor, publicly expressed his concern that these Internet sites would inevitably place downward pressure on brokers' commission rates. One broker complained that because of the lower cost structure of brokers who provide listings to their customers over the Internet, "they are able to kick-back 1% of the sales price to the buyer." And Cendant, the nation's largest real estate franchisor and owner of the nation's largest real estate brokerage, asserted in a widely circulated white paper that it was "not feasible" for even the largest traditional brokers to compete with large Internet companies that operated or affiliated with brokers operating VOWs.

If a MLS member broker decides not to enter a listing into the MLS so no other member can effectively inform consumers of that listing in person, by telephone or by VOW website ,then that's OK, it effects everyone equally. By "opting out" listings only from the Internet, a broker is only effecting those brokers who predominatelyt use the Internet to conduct business. And that is against the law.