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Live Coverage-Inman Connect San Francisco 2008

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BrokerIPTV : I am at Inman Connect 2008 in New York city, and I have the rare privilege to talk with Saul Klein, otherwise known as Mr. Internet. Saul Klein can you tell some little bit of yourself and your background.

Saul Klein : Thanks Mark, I am real estate broker, Got into real estate business in 1975, became a broker in 1977, had my own business in San Diego. I was the president of the San Diego Association of Realtors in 1993, I was involved in buying and selling homes and apartment buildings and real estate syndication and in the mid 90s I got involved with the National Association of Realtors as a consultant to figure out ways to bring technology to realtors, I was involved in bringing listings to the internet with realtor.com back in the early days. Had the opportunity to meet multiple listing service and association executive every ware and all the NAR staff and one thing let do another and here we are today.

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BrokerIPTV: I am with Kevin Boer, he is with three oceans real-estate blog and we just sat through the new technology seminar here at Inman Connect at New York city 2008. And Kevin just more curious, Brad Inman on the other day and his speech was taking about things in the past return about video, social networking, transparency and he was really talking about New York in 2008, kind of the market. I am curious from your perspective, whats the world according to Kevin?

Kevin Boer: The world according to Kevin oh dear, thats the very broad question, so since it is a real estate conference we will confine our lofty comments to the real estate world. So I think a couple of things are going to happen at.., let me just talk briefly about the market and then secondly let me talk about social media and blogging in real estate. So in terms of the market I am out in the bay area, thats where I operate and in our area it really is a question of which neighborhood you are in, so you read the media in its the media will tell you real estate prices are dropping by 10% every month in every neighborhood across the country and 10% of the homes are in foreclosure and if you dont sell your home right now, you are going to lose even more money. The reality in the bay area is its neighborhood by neighborhood, you go to one neighborhood, if it is got a good school district, chances are prices are doing well, Palo Alto is up 20%, -Menlo Park is up maybe 5-10% if you are in a poor school district you are hoarding, so its a real mixed bag in our area and so the way that I see it is the lower end of the market which has the poor the not so good school districts. I think they are going to start to recover along with the rest of the country with when the whole sub prime mortgage thing gets fixed up, the upper end I think its going to continue doing well for the first future in the valley simply because technology is doing so well, and technology is what drives the valley.

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Craig Newmark Craigslist founder Talks About The 1st Web 2.0 social network-Craigslist

BrokerIPTV: Inman connect in New York City 2008 and I am honored to be here with Craig Newmark, founder of Craigslist. What I would be talking today with Craig. Brad Inman, the other day which is speak, I know you missed his speech, but he was talking about transparency, he was talking about video, social networks in the market. I am just curious to know what your thoughts are regards to the real estate space and our market conditions.

Craig Newmark: I mean I would be the person to ask about real estate conditions. What we see on the site seems to be some are softening a demand, and more people trying to sell things themselves, but as far as I could tell, what we see on the site is just what you read in the news, there is softening through out the country, but less so in the markets like New York and San Francisco.

BrokerIPTV: Right. Well, I think what we found in our market is really Cragslist is really become a integrate part of lot of real estate brokers lifes. I mean we use Cragslist extensively, and if you've seen an increase use in your product as far as for the marketing homes?

Craig Newmark: What we see is slow, steady growth, which is our entire history. I mean the race between hare and tortoise, we are the tortoise, so we just keep growing in pretty must role regards, it is slow sometimes, usually slow and we see increase usage. If you look hard enough, may be we would see increase usage regarding per sale by owner, these days. Now, we haven't really looked. For us it just that will be a matter of satisfying curiosity, rather than anything objective.

BrokerIPTV: I am curious any plans or a change in the future as far as Craigslist goes?

Craig Newmark: Nothing really, we do incremental improvements, small additions to functionality, we introduce multiple language support couple months ago and so far just supporting Spanish, but we will be doing more as that goes on, there will we more cities and countries. We got to get let us say multi-cities search engine and we have to provide better and better customer service tools.

BrokerIPTV: Excellent, I mean also I know is you do things, and you do things well, you have been steady as she goes. Like I said Craigslist is a very much, I mean you become in your network, the classified ad networks really become just part of peoples everyday fabric, their life.

Craig Newmark: We seem to work out pretty well for lot of people and we appreciate people using our site.

BrokerIPTV: Any, are we still staying on the consistent platform or most things are going to remain free?

Craig Newmark: On our site that is the plan. We do not have any needs to make lots of money and we do not vow any VC or banks or anything. So, we just keep plugging away. Very any recent pricing insurrection we have done, have been new counter scams. We find that if we charge it token fee, say in job post that tends to discourage the bad guys.

BrokerIPTV: Wow, excellent, I never even thought about, it is excellent. Well, Craig, I appreciate you really taking time on your busy day. Thank you very much.

BrokerIPTV: Maurice Giroux of Metro Brokers caught you here on the forward Inman Connect in New York City 2008. I know I saw you the other day at Brad Inman's opening speech and he was talking about some of the past themes, which is social networking, video transparency in the market. How do those things relate to your role back in Colorado?

Maurice Giroux: Well, there is no down market, video is doubling the way of the future and Metro Brokers, we are going to take a real close look at that, this next few months and that is going to be part of our advertising programs.

BrokerIPTV: And what you seen as far as transparency, blogs what is your opinion and take away on blogs here?

Maurice Giroux: If you are not blogging now, you better start. I came to my first Inman Conference a year ago and did not even know what a blog was at that time. I started blogging just a few months ago and right now I am number one in my market place.

BrokerIPTV: Wow, fantastic.

Maurice Giroux: Yeah, it is fun, it takes time, but it is lot of fun.

BrokerIPTV: So what is your take on the market, you have seen what Brad is talking about?

Maurice Giroux: As you probably know market in Colorado, we have a lot short-sales, a lot of foreclosures, there has been a lot of doom and gloom talk now for years, but the truth is we are doing better than most parts of the country. Yeah, there is a little parts of New York, well little New York is doing well and but in general they are talking about prices dropping anywhere from 10% to 40%, huge. I dont think we are going to see that in Colorado and lot the express that I have been talk to, say the same thing, they hearing good things about Colorado.

BrokerIPTV: Yeah that is fantastic; I wish the press back home, we get the same news out, alright?

Maurice Giroux: Absolutely, it is time to start doing something and I think we are at the bottom of the market and even though again the media, like you say in general, they always paying poor picture of way things are, that is not the case, it is time to act. I think depending on what a MSAs you look throughout the nation, a lot of times you are not talking about Dallas, you are not talking about Seattle, you are not talking about North Carolina, Denver. The numbers we have seen is saw at most year-to-year change on sold values with incentives, is less than 1% in Colorado which is fantastic really.

BrokerIPTV: Exactly, right Moe, I have enjoyed talking with you.

Maurice Giroux: Great seeing you at Inman.

BrokerIPTV: Thank you. Alright we will see you next time

Maurice Giroux: Alright.