http://1000watt.net/2012/05/10-questions-matt-and-susan-daimler-founders-buyfolio/ There are all kinds of contradictions in the discussion that I pasted a link to. First and foremost, I never knew that buyfolio was intended for the New York agents. Great job by them for marketing it. I don't think I know a single agent that uses it and I do not understand how if brings value to the agent or... [more]
http://1000watt.net/2012/05/10-questions-matt-and-susan-daimler-founders-buyfolio/
There are all kinds of contradictions in the discussion that I pasted a link to. First and foremost, I never knew that buyfolio was intended for the New York agents. Great job by them for marketing it. I don't think I know a single agent that uses it and I do not understand how if brings value to the agent or apartment seeker. It's called information management and most sales agents are very good at this without having to sign up for the ridiculously named "freemium" or a $24.95 fee (per month!) package. Having an application such as this doesn't enhance buyer or agent transparency. The market is way too fast moving and lacks overall inventory to have a need for this type of real estate tool. It's redundant and costly.
It's very telling about what Zillow might be up to with the redesign on the site. Buyfolio had absolutely no value in the New York marketplace, however they paid an undisclosed sum for it. Makes no sense. Then they acquire Streeteasy for a known amount and butcher it and turn it into a fashion blog. Who's closet photo is that on the home page? Is this Apartment Therapy 2.0 or a data site? They are essentailly cutting themselves off at their OWN feet or their intended goal, which is more likely, is slowly to morph into a full scale Zillow presence. What they don't seem to understand is that without question, they will be rejected by the New York market. People here have zero tolerance for this type of stuff. I mean really, come on, are they going to try to take on the massively powerful real estate operations of New York. Are they really going to assign a "zip code specialist" and try to bypass exclusive agents? I think my concerns and comments are justified. It's also interesting because for the last few years the topic of almost all agents has been the changes to the industry and the impact Streeteasy had on virtually everything. Brokerages had to take entirely new directions because of the way information was now available to the public. This information is obviously still available, but several layers back, which confuses matters all the more. Who's up to what right now?
This has everything to do with a new team of people at Streeteasy who are obviously unqualified and lack the management skills to test a new application or product in the market before going live. This was done hastily and really should have been thought out for a longer period of time. They could have made several cosmetic upgrades to their home page, but the value of having everything on one page was valuable. At a time when Apple developers, really everyone, is working towards "dashboard" like platforms, Streeteasy effectively had that, but went backwards. Streeteasy is now effectively a fashion blog and shows some serious oversight to the actual needs of the very active real estate consumers of New York.
Having been in positions of management, I take these types of changes very seriously, especially when it's an application that I use heavily. As a paying member, I have every right to criticize managements decisions to implement a new system that fails in every way. Let's see how they respond, if they respond at all.
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Response by truthskr10
over 12 years ago
Posts: 4088
Member since: Jul 2009
Some 20 years ago in the early days of EDI, (electronic data interchange)I was required by a few large retail customers to participate and get on board.
For those who dont know what EDI is, it's simply an exchange standard of electronic documents, that allows a customer's computer to interact with a supplier's.
For example, a customer's computer determines they are low on inventory and the computer places an order with the supplier's computer. Same with invoicing,payment,etc.
Now the software you have to buy and the transaction costs of exchanges substancially add up.
Bare with me, there is a point.
THere was one software company I got a hold of that had a great program. I believe it was called X-change.
What was brilliant about it was it was intelligent software and was able to transact and adjust on its own.
To set up a new vendor today costs like $200 and it a whole to do.
Not with X-change, all the customer had to do was send the intial request and the software automatically set up and sent a confirmation. I remember at the time, the people at Kmart were shocked.
X-change was gone 3 years later, I suspect they were bought and were made to conveniently disappear, as had they caught on in the industry, a lot of EDI revenue would be lost.
All Im saying is, Streeteasy offers (maybe going to offrED) X-change like advantages to the average Joe and it is detrimental to the Sothebys, The Related's, the Core Groups, Ellimans, etc., well you get the picture.
Point is, if Im a seller or salesman, at least a smart one, I'd prefer Streeteasy (pre Zillow) wasnt around.
Ignored comment.
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Response by Nah
over 12 years ago
Posts: 85
Member since: Feb 2008
Very possible. I noticed a few lame responses from Streeteasy in other threads and they continue to miss the point. I know however, that they won't revert back to the old site because by doing so, its basically committing management suicide. They made a mistake, but the odds of them admitting to it is very slim. I've witnessed this mentality in the past. I suppose the only other piece of wisdom I can convey, considering we know that all the Streeteasy employees are in fact reading the comment section is that if they have a marginal position, I would be very concerned about my job. When a company goes a certain direction and 99% of the people that participate state they are not satisfied, it's only a matter of time before the said company becomes irrelevant. What management fails to realize, understandably since they didn't do their homework, is that all other areas of the country real estate occupies maybe 10-20% of some peoples lives, in New York, your first words at birth are "what's the price per square foot." Having a system that caters to the individual in Seattle or New Hampshire has no place in New York. Like I said, the site now looks like every other pedestrian fashion or home blog. It is in blog format, so can't see how anyone would challenge that statement.
Ignored comment.
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Response by jelj13
over 12 years ago
Posts: 821
Member since: Sep 2011
I worked in Data Processing for over 30 years. This Zillow purchase of StreetEasy reminds me of similar buyouts I've seen that were done just to eliminate the competition.
I do agree that the NYC real estate market is nothing like the rest of the country. I was astonished on 2 recent real estate transactions that the lawyers for my buyer and seller, coming from Westchester and Long Island offices were not current with contract requirements for coops and condos (eg writing in a closing date for 30 days after the contract is signed for a coop).
I wouldn't confine job concerns to lesser positions. Someone is going to be blamed for the drop in readerships and insider subscriptions. I doubt it will be a Zillow employee.
I also agree that it looks like a pedestrian fashion or home blog. The NY Times Real Estate looks much more professional even though it never provided the full scope of StreetEasy's information bank.
Some 20 years ago in the early days of EDI, (electronic data interchange)I was required by a few large retail customers to participate and get on board.
For those who dont know what EDI is, it's simply an exchange standard of electronic documents, that allows a customer's computer to interact with a supplier's.
For example, a customer's computer determines they are low on inventory and the computer places an order with the supplier's computer. Same with invoicing,payment,etc.
Now the software you have to buy and the transaction costs of exchanges substancially add up.
Bare with me, there is a point.
THere was one software company I got a hold of that had a great program. I believe it was called X-change.
What was brilliant about it was it was intelligent software and was able to transact and adjust on its own.
To set up a new vendor today costs like $200 and it a whole to do.
Not with X-change, all the customer had to do was send the intial request and the software automatically set up and sent a confirmation. I remember at the time, the people at Kmart were shocked.
X-change was gone 3 years later, I suspect they were bought and were made to conveniently disappear, as had they caught on in the industry, a lot of EDI revenue would be lost.
All Im saying is, Streeteasy offers (maybe going to offrED) X-change like advantages to the average Joe and it is detrimental to the Sothebys, The Related's, the Core Groups, Ellimans, etc., well you get the picture.
Point is, if Im a seller or salesman, at least a smart one, I'd prefer Streeteasy (pre Zillow) wasnt around.
Very possible. I noticed a few lame responses from Streeteasy in other threads and they continue to miss the point. I know however, that they won't revert back to the old site because by doing so, its basically committing management suicide. They made a mistake, but the odds of them admitting to it is very slim. I've witnessed this mentality in the past. I suppose the only other piece of wisdom I can convey, considering we know that all the Streeteasy employees are in fact reading the comment section is that if they have a marginal position, I would be very concerned about my job. When a company goes a certain direction and 99% of the people that participate state they are not satisfied, it's only a matter of time before the said company becomes irrelevant. What management fails to realize, understandably since they didn't do their homework, is that all other areas of the country real estate occupies maybe 10-20% of some peoples lives, in New York, your first words at birth are "what's the price per square foot." Having a system that caters to the individual in Seattle or New Hampshire has no place in New York. Like I said, the site now looks like every other pedestrian fashion or home blog. It is in blog format, so can't see how anyone would challenge that statement.
I worked in Data Processing for over 30 years. This Zillow purchase of StreetEasy reminds me of similar buyouts I've seen that were done just to eliminate the competition.
I do agree that the NYC real estate market is nothing like the rest of the country. I was astonished on 2 recent real estate transactions that the lawyers for my buyer and seller, coming from Westchester and Long Island offices were not current with contract requirements for coops and condos (eg writing in a closing date for 30 days after the contract is signed for a coop).
I wouldn't confine job concerns to lesser positions. Someone is going to be blamed for the drop in readerships and insider subscriptions. I doubt it will be a Zillow employee.
I also agree that it looks like a pedestrian fashion or home blog. The NY Times Real Estate looks much more professional even though it never provided the full scope of StreetEasy's information bank.