How much lower can Move go?

When I started at Move in May ’06, the stock (and my options) was priced at slightly above $6.  Today, I see the stock end today at $0.89, making for a very sad looking chart and definitive proof that I know nothing about timing my employment options.  I’m also not particularly good at reading financials, but I do know enough to know that having a market cap of $136M when you have $140M in total assets (down from over $200M in total assets from last year) is not a good thing.  I’d think they’d be an obvious take-over target except my guess is that many suitors would view the contract with NAR as more of an impediment to growth than an asset.

Which begs an interesting question… How much lower would the stock have to go before NAR steps in, realizes Russell’s dream and buys back operation of realtor.com from Move?  My guess is that there’s a bunch of reasons this couldn’t happen, but still… It would seem that something will have to give at some point if the stock price keeps dropping.

On a more positive note for Move, they did win their patent case today that had to do with putting listings on a map (at least that’s how I remember the case being explained to me!).

A fascinating conversation about NAR/DOJ…

I really want to thank the industry titans who participated in today’s podcast:

As well as all the people who listened in and provided wonderful chat commentary throughout the podcast. There were so many great names that showed up that I can’t wait to get many of you on future podcasts!

I thought if I gave us a half-hour we’d be able to cover the subject completely… but with the crew above, we were flying along after an about an hour when I decided to pull the plug in order to save some energy for next week! 😉

And if you missed the live call, don’t worry, you can still catch all the recored action here:

That was so much fun, I know we’ll do that again… Hopefully soon! 😉

Live Podcast: What does the DOJ/NAR Settlement mean to REALTORS?

I’m totally excited about the live podcast that is set to go live in a few hours!

Earlier today, I was at an caravan event with a large group of REALTORS… When the agents found out I was an internet guy, many of them kept asking me for insight into the settlement between the DOJ and NAR and how it was going to affect their online business. However, like many of the agents, I have more questions than answers, so I decided to use this opportunity to put together a podcast where some great guests can talk through the implications of the settlement.

With that background, I’m extremely excited that the following three guests have agreed to take part in a 1/2 hour roundtable discussion at 4pm (PST) today:

The podcast will be streaming live at TalkShoe and I encourage you to join in the conversation live!

Initially, I’m only going to have the mics turned on for the guests to cover the basics, but assuming that we have some time beyond that, I’m looking forward to opening up the mic to others on the line (That means you!).

And if you have some specific questions you want to be sure get addressed, leave a comment below and I’ll do my best to work it into the agenda! Hope to hear from you at 4pm!

UPDATE:

The 1st 4RealzEd event was yesterday and…

4ealzEdI think I’ve recovered enough now to actually post about it! 🙂

Despite our best efforts to be prepared, the day started off a bit rough with a nearby mudslide taking out power in our building in the morning (meaning no hot coffee and no projector) and a 9-car pileup on a nearby freeway slowed me down tremendously. AHHH

So, to say it started rough would be an understatement… But once it started, things seem to get on a roll quickly.

I started with an overview of consumers expectations in a web2.0 world to set expectations for the day… Jim followed up with presentation on optimal features and design for a real estate website. Then it turned back to me for a presentation on social networking… lunch… then another presentation by me on creating value through blogging about communities. And we returned for the day’s finally with Jim giving a engaging presentation on measuring and tracking marketing results to ensure a positive ROI.

All around, it was a wonderful day! And, maybe they were just being nice, but the attendees who talked with me said only good things about the education.

Because I promised attendees I would give them a list of all the sites I mentioned in my presentations (so that they wouldn’t have to ask me to spell out each URL), here is the list for everyone’s benefit.

Consumer Expectations in a Web2.0 World:

Engaging in Social Networking to Earn Clients

Using Blogs to Build Communities

I wasn’t tracking the sites that Jim mentioned, but there were not nearly as many of them in his presentations…

And thanks again to all the bloggers who have helped spread the word about the event, the sponsors who helped us keep the price low and all the attendees who made the day possible!

I received some incredible feedback from all three groups, which is going to lead me to make some changes to the upcoming events (I’ll announce those early next week!). Great stuff all around. Thanks again to everyone!

Miami Real Estate Agent is being sued for $25M for…

comments he made on his blog about a developer!Wow!The short version:  The blogger said that a development was sure to have lots of problems along the lines of what happened when the developer went bankrupt in the ’80s.   Problem is, the developer never went bankrupt (although he admits financial problems).Interestingly, the law professor who is interviewed doesn’t think the developer has much of a case against the real estate agent, but even if the case is dropped, damage has already been done to the agent, Lucas Lechuga, considering his broker let him go and he’s now got to pay legal fees!

”We just don’t condone making statements, especially negative statements, about anyone, so we have terminated our relationship with our associate,” said EWM President Ron Shuffield.

Interestingly, another Ron Shuffield goes on to say:

“I viewed these statements to be more negative in tone than just providing information,” Shuffield said, adding the firm wouldn’t have hired Lechuga had it known about the blog…”We want to encourage associates to be a positive source of information,” Shuffield said.

Interestingly, I wonder if this will put the scare on other Miami bloggers and in particular, other Esslinger Wooten Maxwell Realtors like Kevin Tomlinson of the South Beach Real Estate blog.However, in therms of the story I’m a bit conflicted.   While I hate to see a blogger get kicked around for comments he (apparently) thought were true, there’s definitely a lesson to be learned about the need to be smart in your blogging.By the way, the blog post in question has been edited to take away the incorrect facts, but can still be found here:  Closing to Begin at the Opera Tower Very Soon.UPDATE:  There’s now a video