Connect 98 US commercial agents embrace the internet as information exchange

News

Catherine Wheatley in San Francisco

17 March 1998

US commercial property agents are starting to use the internet as a forumfor exchanging market information and leads, delegates at Real EstateConnect in San Francisco were told.

Unlike residential brokers, who set up sites for potential purchasers tovisit, commercial agents are using the web more pro-actively, sending outinformation to possible buyers via the internet.

“We can send out particulars by e-mail and have calls back with potentialleads before the afternoon mail has gone out,” said former Grubb & Ellisbroker Emmett de Moss, who has recently launched Realbid, an internetproperty marketing service. The company charges vendors a flat fee of US$5,000 to match them with potential buyers on a mailing list which includesagents from all the major property companies.

“Historically there has been a great disincentive to share information andclients. With our system we can make the smallest local broker as strong asthe biggest national player,” de Moss added.

According to Ted Kraus, head of New Jersey-based Property.com, agents areincreasingly willing to use the internet for new leads. Between 7,500 and13,000 browsers visit the company’s site every day. The home page carriesdetails of around 150 new properties for sale every week.

“Most real estate people are computer retards and all they want to know ishow to close the deal so we make the site very simple,” said Kraus, aproperty agent himself. The company e-mails details of every new buildingfor sale to a list of around 1,000 clients.

Agents are also using the internet as a forum for exchanging information.Texas-based Durbin & Associates manages an intranet for local brokers.Membership of the group costs US$107.50 a year and over 800 messagescontaining property details, information on clients wishing to acquire, orstraightforward market gossip have been sent since the service was launchedlast October.

“Clients expect you to broadcast details of their property as widely aspossible: this is a good way of doing it,” said Durbin & Associates’principal Tom Crawford.

EGi News 17/03/98

US commercial property agents are starting to use the internet as a forumfor exchanging market information and leads, delegates at Real EstateConnect in San Francisco were told. Unlike residential brokers, who set up sites for potential purchasers tovisit, commercial agents are using the web more pro-actively, sending outinformation to possible buyers via the internet. “We can send out particulars by e-mail and have calls back with potentialleads before the afternoon mail has gone out,” said former Grubb & Ellisbroker Emmett de Moss, who has recently launched Realbid, an internetproperty marketing service. The company charges vendors a flat fee of US$5,000 to match them with potential buyers on a mailing list which includesagents from all the major property companies. “Historically there has been a great disincentive to share information andclients. With our system we can make the smallest local broker as strong asthe biggest national player,” de Moss added. According to Ted Kraus, head of New Jersey-based Property.com, agents areincreasingly willing to use the internet for new leads. Between 7,500 and13,000 browsers visit the company’s site every day. The home page carriesdetails of around 150 new properties for sale every week. “Most real estate people are computer retards and all they want to know ishow to close the deal so we make the site very simple,” said Kraus, aproperty agent himself. The company e-mails details of every new buildingfor sale to a list of around 1,000 clients. Agents are also using the internet as a forum for exchanging information.Texas-based Durbin & Associates manages an intranet for local brokers.Membership of the group costs US$107.50 a year and over 800 messagescontaining property details, information on clients wishing to acquire, orstraightforward market gossip have been sent since the service was launchedlast October. “Clients expect you to broadcast details of their property as widely aspossible: this is a good way of doing it,” said Durbin & Associates’principal Tom Crawford. EGi News 17/03/98