Real Estate Blogs: Double-Edged Swords
The opening sentence of the cover story of this weekend’s NY Times Real Estate section sets up the article with a false premise: “As unsold properties proliferate and encounters with the scalpel fail to move them, some New York City sellers are being undermined by an often nameless enemy.” See, we’d argue that the sellers…
The opening sentence of the cover story of this weekend’s NY Times Real Estate section sets up the article with a false premise: “As unsold properties proliferate and encounters with the scalpel fail to move them, some New York City sellers are being undermined by an often nameless enemy.” See, we’d argue that the sellers aren’t being undermined at all (except in the case when actually false information is put forth). Rather, in our view, sites like Curbed, Brownstoner and StreetEasy are just expediting the process of bringing sellers’ expectations in line with the market—and calling lazy brokers to task for providing insufficient information and sub-par photographs. Input from thousands of other market-savvy readers can also help to bring much needed transparency and frankness to the process, all of which—hopefully—makes the market more efficient. People are asking questions they can’t ask their broker, and they’re really interested in the qualitative perspective, in getting opinions of people,” said Dawn Doherty, the vice president for strategic development at StreetEasy.com. While there have been instances of brokers and owners identifying themselves and countering criticism successfully on Brownstoner in the past, some brokerages are clear gun-shy, and probably with some reason. We basically do not allow our agents to post comments without prior approval, because we think it’s a can of worms, said Diane Ramirez, the president of Halstead Property. Unless something is egregiously incorrect, it’s almost better to let it die, because if you comment on it, it takes on a life of its own. Some brokers realize that, more often that not, the benefits of publicity are worth the price of a few online pot-shots.
Snark Attack [NY Times]
Benson, you really seem to be picking on Brownstoner. He discloses advertising relationships. He is as objective and transparent as anyone could ask for.
Last year it became a media fad to write about how snarky Gawker was. Now Gawker isn’t snarky any more. I certainly hope that doesn’t happen on Brownstoner.
NYT is right, the conversations here and the info you can get from Brownstoner and other real estate sites, not to mention Google, is a big phenomenon and worthy of mention. It certainly has become an obsession for me.
I really haven’t found rents to be 2000/2001 levels. Still seem about 2004/2005 levels to me.
The Jr 1 bed that I rented for 1600 on E. 6th in the East Village in 2004 is going for 1900 today.
It’s also crazy that the NY Times article states:
“The best insurance against online mudslinging is also the costliest: Price your place in bear territory — somewhere between 2004 and 2006 prices.”
Rents have fallen to 2000/2001 levels and it makes logical sense that sales prices should be around that level too. 2004 prices are WAY TO HIGH.
In 2011, when the Super Depression begins after the hundreds of billions that Bush/Obama wasted to “stabilize” the economy has all been stolen and wasted, NYC housing prices will fall back to 1994 levels, maybe even lower.
I once tried to get Brownstoner to post a property I was selling on his weekly openhouse list and was rejected.
I wasn’t upset about it. It’s up to Brownstoner to post what he wants to. It’s his site afterall.
If you value journalistic ethics and disclosure, for goodness sake go out and buy a newspaper. Whether a tip on a HOTD/COTD is coming from a disinterested party or from an owner, I don’t see what difference it makes, unless the owner has bought a big ad on the site. Otherwise, I don’t see why Brownstoner would be under any pressure to feature the house or consider it on anything but its own merits.
Indie music blogs, and before that, indie zines get their review material from the source and always have, and it doesn’t affect the tone of the coverage (unless the record label bought a big ad, but even then, the sell-out ratio is lower than you’d think).
Free media, whether it’s Wikipedia, TMZ or an opinionated real-estate blog, operates by different standards and should not be confused with print or online pubs with an actual editorial board and reporting procedures and guidelines. Frills like that cost money.
From northsloperenter: “I haven’t expected the NY Times to live up to the standards of the NY Times for years…”
Best line today.
benson- let’s not put this all on Mr. B. If there is anyone to blame for the wild west atmosphere its us posters. On the one hand we bitch about any perceived censorship, on the other hand, we get out of hand on a regular basis.
The point being, none of us is here without wanting to be, and its thanks to Jon we can be. So where’s our responsibility? And I find some of the comments directed at Jon are a case of biting the hand that feeds you.
I don’t come here to do research and I certainly wouldn’t depend on brownstoner to make any important decisions. I come here to talk about topics that interest me, to hear what other people have to say or share, and to have fun with online personas I like, and some of whom I’ve met offline and like even more. More than that I don’t expect from brownstoner and if I don’t like his blog I can pick up my toys and go home. But some of the attitude directed at him is way off base.
I’m in media too — Brownstoner didn’t know that when I emailed him. (and really, urban policy magazine?)
Bxgrl and Ringo;
Please note that the person quoted in the NYT article is the editor-in-chief of an “urban policy” magazine. I would think that providing a favor to such a person IS in Mr. B.’s career interests. Not only monetary transactions require a full disclosure.
As someone put it above, Mr. B has, in the past, mentioned when a sponsor or reader sent something to him for posting. The same should have been done here.
I find that there is a contradiction in Mr. B.’s approach that East NY touches upon. If he wants a free-for-all blog, well, that’s fine. If the result is a “Wild West” atmosphere, then don’t complain about the results (as he has done). If he wants to aim higher (as he has also proclaimed),then it’s up to him to put in place the appropriate standards.