Goodbye IHB

Part of owning a small company or a start up is being able to say.

I WAS WRONG. Its funny how easy these words are. When the customer wants

to burn your building down. All it takes to diffuse him is. "Your right sir"

"We made an error". Even more so with employees. Yes the boss made a mistake.

You have NO idea how these simple concepts can diffuse situations like what

you. IR, Zovall and Shevy are experiencing here. One of the greatest lessons

of business and making money is. CHECK your ego at the door. Readily admit fault.

You would be amazed at how quickly people come to your aid when you are aware of this

concept.
 
[quote author="bltserv" date=1239190904]Part of owning a small company or a start up is being able to say.

I WAS WRONG...</blockquote>


As much as I do agree with your sentiment... there are other ways to look at this too. Haven't you ever been in a relationship with somebody? When you get into an argument, you often have a cooling off period before you can talk rationally again. Maybe IR & Z need a second before they can get to that point. It doesn't mean they won't get there, but give them time, ok?



Also if you as a customer were to start jumping down the manager's throat, they are not as likely to want to help you. Be cool, be suave... and you are more likely to get a favorable response.
 
IHB was a platform for telling the truth and many industry insiders were willing to share their perspective. Having a corporate sponsorship now may cloud the clarity of opinions and will always cast doubt among the members regarding the intent of information being posted.</blockquote>


Bk,



And that is why I kept asking IR if he is getting referral fees for sending leads to his partner Shevy. Of course, he kept deleting my question labeling it as "personal attacks".



IR mentioned that he will continue his 'hobby' of contributing to the forum. But unlike the past 2 years whereby he posted his articles to educate his readers. Will his new found real estate venture taints his writing? After all when monetary gain is involved. Can he truly be impartial? In his own words, his future articles will help drive traffic to IHBLog. What is the motive behind this pending high traffic? So that he can gain more clientels?
 
By the way, on the subject of 6% commission fee. Member after members, including IR, have scoffed and flogged RE agents for charging 6%. Now we find out that IR and his partners are also charging 6%. What the??



Look, don't get me wrong. I am all for making a living. I could careless what the commission % is. But don't put down an industry for charging 6%. Then you in turn do the same.



On the forum where IR decided to announce/advertised his new real estate venture. Many posters have questioned him on this 6% commission. And his replies are:



1) "Hey, if you don't like our service or what we charge. Then take your business elsewhere." and/or



2) "Umm, when 'volume' picks up. We might consider lowering the 6%."



I am going to ignore the 1st reply since it's not very customer friendly for a new business. But let me ask you about the 2nd reply. You said that when volume picks up. You might consider discounting the 6% commission. Well, we all know you're a numbers kind of guy. At what volume will you think you might lower the fee? $10 million net revenue? At least give us a number so that we all can anticipate on using your service. Maybe you should put up a graph so we can monitor to that day we'll get a discount from your company.
 
[quote author="PANDA" date=1239181507]IPO, can you make another photoshop master piece with me and Ten Please?



Tmare, you really thought Panda was going to leave IHB? I told you i am addicted to this website like smoking herion. What's up with the "Goodbye IHB"? IHB is here to stay.</blockquote>


<img src="http://www.bluecollardistro.com/birbigshirts/images/bir-ss-013-full.jpg" alt="" />
 
[quote author="SoCal78" date=1239181608][quote author="PANDA" date=1239181507]IPO, can you make another photoshop master piece with me and Ten Please?</blockquote>


:eek:hh:</blockquote>
Yeah... you weren't the only one making that face!



PANDA... at least play a little hard to get... Ten likes a challenge.
 
[quote author="irvine_home_owner" date=1239196703][quote author="SoCal78" date=1239181608][quote author="PANDA" date=1239181507]IPO, can you make another photoshop master piece with me and Ten Please?</blockquote>


:eek:hh:</blockquote>
Yeah... you weren't the only one making that face!



PANDA... at least play a little hard to get... Ten likes a challenge.</blockquote>


Eh, he's still just trying to get a picture of tenmagnet.
 
[quote author="bkshopr" date=1239189786]

I was responsible in creating all products for Taylor Woodrow, designed most move up products, master planned Crystal Cove, created architectural guideline for Shady Canyon, invented detached condos, prototyped IAC Woodbury Place, designed all Cal Pac?s products, conceptualized the importance of historical vernacular on the Irvine Ranch.

</blockquote>


:bug:



Just when we thought the Irvine Housing Brokers was the biggest turn of events to ever occur here, we find out that one of our beloved posters was the Don himself. We've all been played for fools. BK Bren infiltrated IHB, sucked out the wealth of marketing information we've unwittingly provided, and now gets to enjoy watching us tear ourselves apart from within.



Soon, with the knowledge gained here, he will launch his next great project - the detached high-rise community of TurtleWood Canyon. And as much as you hate to admit it, you're going to be on the interest list as soon as they make it available. He knows it, and you know it.



And one other thing we both know: TIC always wins. Always.



See you at the first phase release, IHB suckas! The Don says peace out.
 
<img src="http://marketing.irvinecompany.com/public_affairs/bren/images/west-la-times-magazine-donald-bren-08-2006.jpg" alt="" />



The real face of BK?
 
[quote author="bkshopr" date=1239189786] I was responsible in creating all products for Taylor Woodrow, ... invented detached condos, ..., designed all Cal Pac?s products, ... brought the Chinese merchants to Irvine </blockquote>


As someone who has owned and enjoyed a Cal Pac detached condo and a Taylor Woodrow home, as well as patronize many Chinese merchants in Irvine on a regular basis, I say THANKS BK!



Special kudos for bringing 85 degree C and Capital Seafood to Irinve, they are far superior to JJ and Sam Woo.
 
I've learned more about Irvine and real estate in the few months I've been on this forum than in the decade I've lived in Orange County. This site has been a valuable resource to me and I want to see it continue to exist. There is nothing inherently unethincal about helping people buy real estate in a declining market so so long as the buyers understand what they are doing. I hope that IR and Zovall's venture will be successful enough that they can keep this site up for years. I plan on acquiring some investment properties in the next few years as the carnage in the market continues but I have some concerns about Shevy's youth. The last time I traded an investment property, I used Jim Joseph, who has been in the business since 1981: <a href="http://www.josephapartments.com/">Jim Joseph website</a>. If I see many Shevy success stories posted here in the future, I'd be willing to give IHBrokerage a try.
 
[quote author="bkshopr" date=1239189786]IHB is now a power brand started by Zovall. Host of any website has one goal and that is to generate as much traffic to the site for exposure. Most ?google? search will channel many readers to IHB searching for housing related topics. The mission for all website hosts is to generate profit. </blockquote>


Back in the 90?s at the height of the Internet boom I was shopping in a store in the Sherman Oaks when I overheard the proprietor of the store ask a patron what he did for a living. The patron replied ?I?m in the Internet business.?



The curious proprietor asked ?What kind of Internet business??



The patron then replied ?The only kind that makes money.?



Due to the fact that this guy had a profitable Internet business in the San Fernando Valley I quickly deduced that he made Internet pr*n.



Why do I share this story?



So the next time someone asks IR or Zovall why they started the Irvine Housing Brokers they can respond ?Hey, were just trying a few bucks off our work on the Internet so it was either this or pr*n? :)
 
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>



The internet is for PRON! :lol:



-bix-0-porn!
 
My two cents.



I rely on the forums more then the Blog. I, like many others, found that after a while the Blog was just very repetitive and boring. One can only read so many posts saying the same thing. Person bought house at wrong time, now house not worth as much. Person bought house at right time, Helo'd their way into oblivion and now they are in trouble.



I think that the deleting of posts was absolutely wrong. To my knowledge IR never posted Realtards names but when others did that information was not scrubbed. Since the Czar deleted these posts I am not sure if they violated the rules of the board or not but I have not seen many moderator deletions since I started visiting this site.



As far as banning people who suggested a competing blog. There have technically been links to competing blogs since I have joined if you use the true definition of competition. Any other blog discussing the RE bubble is a competing blog.



Unbiased Salesperson is an oxymoron. I have been in sales for a long time and there is no such thing as an unbiased sales person. You have to be biased that is what you are paid to do.



There is no bench mark right now for what RE should be. I have said a few times that if rent is too high then the rental parity arguement is flawed.

<a href="http://lansner.freedomblogging.com/2009/04/08/more-oc-apartments-to-go-begging-for-renters/18749/">OC apartments go begging for renters</a>



So even if Larry were to try to use rental parity to prove that a property is cash flow positive that may not continue to hold true.



Unless of course we are willing to say Rents never go down. I will make a bold prediction and say they either will go down or stay stagnant for a while. Try to remember the last time you saw an apartment advertising free rent. CA lost 46 Billion from just the slump in construction. Subtract RE agents, mtg brokers, contractors and anyone else that was making a living off of the boom from the competitive pool and tell me the rents will stay as high as they are.



Part of the reason rents kept increasing is because affordability was evaporating. As housing prices went up rents followed. Now housing prices are going down so where should rents go.



Advising anything differently is hypocritical at this point.
 
Good Post trenter. For once you and I agree. Thats a scary thought in itself.



I just posted this over on the Blog. Seems like IR is seeking Rental Parity and investment.

And I can tell you first hand. RENTS ARE GOING DOWN. HARD. When the IAC offers me $ 500.00

off my first month on my lease renewal and lowers the rent over 10%. Thats news that something is coming.



As far as the changes in the board. Natural evolution would suggest that as the market changed so would this board. Maybe in 2012 as prices started appreciating. By default this board would follow the lead of the market.



But by turning his ?Mantra? on a dime. IR was peceived by by many long time contributors

to have taken a role similar to Benedict Arnold. He had won many battles and now was suddenly on the ?other side? for monetary gain. Look at his posts and the design of the IHB Brand. Even his little Bear Icon. Just a week ago he was demonizing Gary Watts. Now he was all but standing next to him.



I dont think the board will change much. Prices will continue to fall as the next round of forclosures and layoffs continue. And if IHB can make a dime it will. But there are 100`s of RE Sales people who are far more sagacious in front of them. Welcome to sales. Hope you are well armed and have thick skins boys. Your going to need it. Its kill or be killed in this market.
 
<blockquote><strong>Good Post trenter. For once you and I agree. Thats a scary thought in itself.</strong></blockquote>
Ain't that the truth. I think what will change on this blog is "motive" has crept in. What is IR's motive when he makes a statement now?



It seems on some of the blog posts now IR has to defend a comment he made about a condo being a good value if you plan on living there for a while. People may have disagreed with that statement in the past but never quesioned why he made the statement.



If a person wants to buy a million dollar home will Larry or Shevy tell the buyer they can't represent them because they are a knife catcher? I doubt they will with 60k in commissions on the line.



I don't mind that he wants to get into sales the profession is littered with people who thought they could sell until they realized it was actually work. I just know that if I want real information about the housing market I would never go to a RE agent or anyone affiliated with an RE agent. Because NOW is always the right time to buy.



That now includes IR.
 
This statment that IR makes is typical of Non Salespeople thinking about changing how

salespeople should be paid. They typically make these mistakes when transfering from a salary based position to a sales commission/incentive based position.



IR mentions this point in his new fee structure.

"In my work as a consultant, we go on a billable hours basis. Everyone who works gets paid for the work they do".



Rule NUMBER ONE in sales. You get paid for what INCOME you bring in. The sale is not done

till you HAVE the money. Billable hours is what a Law Firm does. Sales people can chase clients and work for months for free. They get paid more because they take those chances.



Its the same as being Exempt or Non-Exempt as an Employee. As a business owner you can

put in a huge numbers of hours. Keeping track of time is NOT EVER going to work in sales.

Keeping track of leads, contacts, follow up and entertainment is what books business.

Kissing butt, networking, getting on the phone and making it happen. Keeping track of expenses

is more important than keeping track of time.



99% of the time these "Accountant and Math" types make the absolute worst salespeople.

They come in with a good heart and are very smart. But they get eaten alive by old pros.
 
[quote author="bltserv" date=1239339891]99% of the time these "Accountant and Math" types make the absolute worst salespeople.

They come in with a good heart and are very smart. But they get eaten alive by old pros.</blockquote>
Which is probably why he's bringing the "Shevy to the levy".



I just hope he doesn't find that the levy is dry... or as pessimistic as we are.
 
[quote author="bltserv" date=1239339891]This statment that IR makes is typical of Non Salespeople thinking about changing how

salespeople should be paid. They typically make these mistakes when transfering from a salary based position to a sales commission/incentive based position.



IR mentions this point in his new fee structure.

"In my work as a consultant, we go on a billable hours basis. Everyone who works gets paid for the work they do".



Rule NUMBER ONE in sales. You get paid for what INCOME you bring in. The sale is not done

till you HAVE the money. Billable hours is what a Law Firm does. Sales people can chase clients and work for months for free. They get paid more because they take those chances.



Its the same as being Exempt or Non-Exempt as an Employee. As a business owner you can

put in a huge numbers of hours. Keeping track of time is NOT EVER going to work in sales.

Keeping track of leads, contacts, follow up and entertainment is what books business.

Kissing butt, networking, getting on the phone and making it happen. Keeping track of expenses

is more important than keeping track of time.



99% of the time these "Accountant and Math" types make the absolute worst salespeople.

They come in with a good heart and are very smart. But they get eaten alive by old pros.</blockquote>


bltserv,



That's a good point regarding "billable hours". There are times when real estate transactions take months to close. Hence, that's alot of hours. The total billable hours will probably cost more than the 6%!



Unless, IR acting as a consultant. He's crunching the numbers for the clients to see if the deal is a good deal. Hence, he's charging by the hours. While Shevy the sales guy is charging the<strong> additional</strong> 6% on the real estate deals? Hmm, that seems like charging 2 fees. One for the "number crunching" and two for the sales. Hmm...
 
You must log in or register to reply here.
Back
Top