Although we have been slowing updating the Atlanta Condo Blog, we are prepping to launch our search site hopefully this week.  CondoDomain has been in Atlanta, GA since early 2006 with our old ‘advertisement based” business model.  We are estatic to be launch our brand new web-based, flat fee buyers brokerage model in the Atlanta Condo market!  Searching for Atlanta Condos?  there is only one place to go now: www.Atlanta.CondoDomain.com - your source for everything Atlanta Condos!

As always we are partnering with the Best.  It Atlanta we have partnered with one of Buckheads top Real Estate Brokers - Ursula Henry from Harry Norman.   Ursula will be our City Vice President in the Atlanta Metro region promoting luxury condominium sales and our innovative web-based flat fee buyers brokerage business model.  Check in later this week for the grand opening of CondoDomain Atlanta.

Search:  Atlanta Condos

Our good friend and collegue Kevin Tomlinson wrote a great post on his newest ultra-luxury condominium for sale - The Apogee Penthouse.

Per Kevin’s custom website:

South Florida’s Most Dazzling Penthouse. Ever.

The radiant crown jewel of South Florida’s most regal, opulent condominium high-rise is now for sale in South Beach.

Apogee Penthouse A is arguably the greatest luxury condo residence to ever ascend on the Miami real estate landscape. The essence of lavishness and grandeur, Apogee is considered one of the most privileged addresses in one of the most fashionable and desirable neighborhoods in the world — South of Fifth (SoFi), also known as South Pointe.

With just 67 sublime bayfront homes, only a select few can live the Apogee fantasy. The stately property is indescribable, yet, at the same time, many words come to mind when you’re in its presence: refined, exclusive, intimate…sophisticated, exquisite, glamorous. Simply sensational.

Get a list of amenities, tour the photo gallery and check out The Apogee Penhouse right on Kevin’s website.

So first of all, last weekend, I was forced (tech peer-presure) to sign up for Twitter, yet another social-media, web 2.0 so called “Must Have”.  So its offical, “you can follow me on Twitter” - code name:  CondoDomain, of course!

Well, now I can say Twitter actually works.  Tonight I found out that the breaking “rumor” which I know has been in the works for a while looks like is finally a “GO” - says Social/PR Guru  Cynthia Pang from Redfin Corp.  I noticed on my Twitter tonight while I was signing off that Redfin has gotten notice that MLS is now allowing individuals to view property addresses and mapping coordinates without being forced to login.

Previous to this rule we were allowed to show much of the MLS property data, but were forced to keep street address and mapping behind a firewall / registration on any of our Boston MLS search pages..    Unlike other State - like in our Dallas Condo marketplace, we have not been able to show this much wanted data.

So as of tomorrow, we will be working on lifting our “mandatory registration” to access street address & mapping!  This is a great move by MLS PIN who has been a great innovative Multiple Listing Service to work with!

We will make another shout-out as soon as we upgraded our system!

SEARCH FOR BOSTON CONDOS

I added a new page called Real Estate Rebate yesterday to the CondoDomain website.  The page outlines how commission rebates and refunds work, etc.  The page is kind of cluttered and “wordy” … I would love some feedback on this page so please shoot me a note if you have an opinion on how I can make this more clear to consumers surfing our site!

Here is a quick sound bite:

A real estate rebate (or commission refund) is exactly that - a portion of the real estate commission that is paid to the licensed real estate brokers, rebated back to you, the buyer or seller.

The only people allowed to be compensated in a real estate transaction are the two licensed real estate “brokers” AND (in most states *) the buyer and or the seller in the transaction can participate in the commission.

Here at CondoDomain.com, we are a full-service licensed real estate brokerage that believes in a flat-fee, transparent business model. We work with each and every one of our clients for the exact same flat fee commission and we rebate you the remainder.

Visit the page

Actually, we would love any feedback on any of our content pages on the company, including:  Compare Us, How It Works, Our Guarantee, Buyer’s Broker, About Us & Careers.

Remember, we opened the Dallas marketplace so if your searching for Dallas Condos and would like to buy and recieve a real estate rebate - were now open

So we have just about shaken out all of the bugs in our newest addition to CondoDomain.com.  Searching for Dallas Condos should NOW be the ‘easiest thing going‘.

Ill tell you this was no easy task.  Even with two extremely talented and well tech-versed brokers on the ground helping us launch the Dallas Condo marketplace, it was a 4 week challenge to really get the site up and running properly.

Challenges:

Simple technology & scaleabity bugs

New data set’s from NTREIS (The North Texas MLS system)

New sets of state-wide and local MLS compliance information

Online marketing schema

Bottom line is that we knew things would be different than launching in the Boston marketplace, but I think we underestimated how different.  The simple things were the “known” differences that we expected in this web-based venture.  We knew there would be a different set of compliance guidlines.  We knew that obtaining a feed as a non-local vendor would be difficult.  But, challenges in long-tail google search results threw us.  Remember, those Texans speak with a different twang and therefor perform different google querey searches.

Sometimes a small change can have a chain effect on specific functions.  Finding a place to stop the bleeding function is very difficult, especially, not allowing it to cross the sub-domain.  More detail and whinning to come….but for now, we are off to get the Atlanta condo market open.

We just brought on our Atlanta broker - Ursula Henry - and we are ecstatic to kick off the Southeast!

Stay tuned.

This is an article from 1999 regarding an Exclusive Buyers Agent that was selling his service as a much better service than traditional real estate agents could offer…for a good number of reasons.  The bottom line is that the big bad Real Estate commission didnt like it and they had the support from the NAR…so they fined Snider who ultimately did not pay and sued the Oklahoma Real Estate Commission.  A great story of an innovator way ahead of the times….well Mr. Snider, we thank you, and we hope to continue to push the envelope as an Exclusive Buyers Agent here @ CondoDomain.com

“The Oklahoma Real Estate Commission had claimed that advertising material, handed out by Kenny Snider, a broker and owner of the Woodward, Oklahoma franchise for The Buyer’s Agent was false and misleading and fined the broker $200. Snider refused to pay up and the case went to court.

The litigation began in 1993 when Snider began receiving cease and desist letters from the real estate commission. What got the commission’s goat was something brought to its attention by Snider’s angry competitors - traditional brokers who didn’t want the public to know that a better mouse trap might exist for the consumer. Seems Snider was also pointing out that the only true agency was exclusive agency and that if a buyer went with any other kind of agent, particularly dual agents, they wouldn’t be receiving full representation. Imagine the shock”  Continued…

Source: Realty Times

- - - - - - - - - - -  - - - - - - — - - - - - - - — - - - - — - - - - -

Working with an Exclusive Buyers Agent?

You may be…you may not be…. Why dont you ask them these questions and find out yourself.

1.    Will you show me all homes for sale that are ideal for me including New Construction, For Sale By Owner, Foreclosures & Auctions?
2.    Will you guarantee that all information I give you will be kept confidential?
3.    Will you guarantee me your undivided loyalty?
4.    Will you guarantee me that you will not try to change your relationship with me to “dual agency�, “designated agent�, “transactional agent�, or any other form of agency that offers reduced levels of service and could possibly compromise my negotiating position?
5.    Will you guarantee me that you will not be representing any seller at any time while you are working for me?
6.    Will you point out all the negative aspects of each property as well as the positive aspects so I will be fully informed when making my decision?
7.    Will you provide information on comparable sales and help me formulate an offering price and negotiating strategy?
8.    Will you provide me a list of lenders, home inspectors, insurance agents and other professionals that you recommend?
9.    Will you act in a Fiduciary capacity and owe all Fiduciary Duties to me?
10.    Can you guarantee me 100% loyalty 100% of the time?  Plus… Do you offer any kind of commission refund or rebate if I help in the search and compare process?

Only an Exclusive Buyers Agent working in an Exclusive Buyer Agency
can answer “Yes!” to ALL of the questions.

 

Yes, it’s true fellow crackberry addicts…Blackberry has recently announced a version of the Blackberry Pearl with a flip cover! The phone will be available this week, although a price has yet to be disclosed.

Good move for Blackberry, I can’t wait to get one! This move comes as no surprise as there is mounting competition from the iphone. 

Here at the CondoDomain offices the competition is clear, it is almost an exact 50/50 split amongst us, around half of us owning an iphone (If Tony will ever stop breaking his!) and half of us owning a blackberry!

According to an article by Bloomberg News, around 75% of mobile phones sold in the U.S. are the flip kind. Are you ready to flip out or what!?

Hey Tony, maybe if your iphone flipped it wouldn’t have iPhone Belly Flop!!!

Source: Bloomberg News

 

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So…Is shotgunning a beer such a bad thing for a corporate executive (aka - founder of a startup or dot-com)?  I mean …. cut me some slack.  We just had a great month, we launched the Dallas Condo marketplace and we are gearing up to have a great last quarter.  Not to mention, its not like I do this every weekend, or every year for that matter.  Last shotgun I can remember was at least 6 years ago.

The Story: So earlier today I threw up a great photo of me (CEO) doing a shotgun with a fellow peer at the Patriots game last weekend.  (NOTE: @ a tailgate party…not in the stadium).

Anyway, since posting this, not more than 1 hour ago I have gotten over 20 emails / facebook messages from peers, friends, buddies, collegues on Facebook stating that I was “nuts”.

So, I ask again.  Is shotgunning a beer such a bad thing? If so someone please give me an explanation so I can accept my embarrassment & remove the photo or just deny it and claim Photoshop infringements!  I mean, if Joe or Rudy were around or even Mr. Barton or Mr. Kelman were there…I bet they would all be doing shotgun’s, no?

What is Shotgunning?  Check it out on wikipedia.

“Shotgunning is a means of consuming a canned beverage, especially beer, very quickly by a particular technique involving punching a hole in the side of the can. It is usually practiced as a form of drinking game and is especially popular among college students. The practice is known in parts of Australia as doing a “sub”, in parts of Western Canada as “springing a beer”, and in the eastern United States as “keying” (a beer).”

(I am going to categorize this post under “Real Estate & Technology”)

Ugh -let me say it one more time — UGH!  What a month August was….the challenges of a boot-strapped start-up within limited resources, trying to grow a high-tech web-business and take advantage of the timing we are so fortunate to have….ugh….I guess Ill get more into this later.

Today is Dallas Day!!!  And I want to thank all of you who have put in so many long days, extra hours and hard work to help us get to this big day.

Special thanks to our core team here in Boston - Jessica, Erica, Thomas & Ramos.  Special thanks to our newest addition who made Dallas happen - BL!  Special thanks to our new tech-savvy, super innovative, Dallas condo brokers - Keith Smith & Gary Tole and an extra special thanks to our Boston web design and technology partner Dreaming Code especially Akshay & my main man Dan!   Oh and special thanks to all the freeware that we love so much and that actually helps this thing rock: Skype, Wordpress, FreeConfrenceCall, GoogleTalk, Facebook and all the other platforms we have embraced.  Thank you!

The Press Release:

September 10, 2008 — CondoDomain.com is pleased to announce the launch of their web-based, flat fee real estate brokerage in the Dallas, Texas marketplace.

This is the second market launch for CondoDomain.com as they expand into their pre-existing 33 U.S. markets as a web-based buyers’ brokerage focusing on urban properties and new construction condominium developments.

Keith W. Smith has been named the Southwest & City Vice President for the Dallas marketplace and will now be in charge of all of the real estate brokerage in the Dallas/Fort Worth area. With over twenty years of experience, Smith is a valuable resource for buyers in the Dallas marketplace.

“We are very excited to join the CondoDomain.com team and to infuse the local Dallas market with this new web-based buyers’ brokerage business model,” says Smith. “The Boston team has proved the business model to be an instant success. With the positive response from buyers, the flat fee model makes all the sense in the world for educated individuals looking to share in the search and compare process and to be rewarded by receiving a large rebate of the brokers’ commission.”

A web-based buyers’ brokerage company offering full, buy-side services for a flat fee, CondoDomain.com LLC has given back more than $300,000 in refunds to their clients in Boston so far this year. On average, clients have received more than $13,000 at closing. As an innovative and forward-thinking company, CondoDomain.com continually implements the latest technology components into their platform to bring all real estate-related data, without exception, to the surface so clients can get a transparent and complete view of each property.

Utilizing the cutting-edge search platform, site users are able to browse the entire website for Dallas Condos and luxury Dallas real estate. Here they will find every MLS listing, every new development and existing luxury building, foreclosure listings, FSBO (for sale by owner) properties and even upcoming auctions.

“Each market is incredibly unique. By partnering with passionate leading market experts like Keith Smith, we are growing our network and brand as a top-notch buyers’ brokerage firm in each city,” says Brian-Logan Reid, National Director of Real Estate at CondoDomain.com. “The timing could not be more perfect for us to roll out our alternative brokerage model, giving consumers a choice and an opportunity to save money during a time when they need it most.”

About CondoDomain.com
CondoDomain.com is a web-based real estate brokerage based in Boston, MA. The company is expanding nationwide to offer its buyers’ brokerage services in more than 30 cities around the U.S. Currently operating in Boston and Dallas, CondoDomain offers an innovative flat-fee business model allowing the majority of the commission to be refunded to the buyer. By combining up-to-date MLS feeds, new construction buildings, FSBO, Foreclosures, Lofts and Auction listings all on one site, CondoDomain has become one of the most popular and user friendly real estate websites available. CondoDomain.com offers a 100% satisfaction guarantee to all of its clients, ensuring a professional, efficient, and pleasant transaction. Visit www.CondoDomain.com for more information or feel free to dive into our blogs at www.CondoDomain.com/Blog.

Press Contact:
Erica Farthing
Director of Social Media & Public Relations
877-852-6636  | erica@condoDomain.com

• Dallas Real Estate
• Boston Real Estate
• Atlanta Real Estate

Here @ CondoDomain.com we love to think we have the best real estate search site in the entire universe but of course…on humble Friday’s we realize that there is some other really cool sites out there too.

Sitting here in Boston on this beautiful day @ 3:30, where most have already bolted for the weekend (I guess we are still on summer hours).  Anyways, my point is that, the combination of our website being incredibly complex with multiple data sets, the reality of being a boot-strapped start-up and being 6000 miles away from the RE:Tech mecca (San Francisco)…well….basically…we are still (more like always) working on the site.

We launched the Dallas website last Friday….and ugh….one week later we are still having some parsing errors with the NTREIS (Dallas MLS) system.  I’m rambling….

MY POINT:

We are doing our best to deliver the best possible real estate search website for you in Boston and in Dallas…and soon to our remaining 35 urban metropolitan’s….BUT….

Remember, we are a real estate brokerage now and a very attractive one at that. There are not many of us out there that will offer you a huge commission refund when you buy a new home or condo like we do.  Actually I can count on one hand how many companies have non-traditional real estate services.

What I am trying to say here (obviously not a good writing day for me today) is that if you love Zip’s (Zip Realty) site, Coldwell Bankers website, maybe you love Trulia or even Zillow’s site - well - go ahead and keep using those site and keep notes on the properties addresses or MLS #’s that you love and we will still gladly be able to work with you!

PS - CondoDomain.com still is the best website in Boston & Dallas!

We hope that all of you have enjoyed a wonderful summer and we thought that we would send you a quick note with FIVE very exciting ‘things’ about our company!

1.    Hook up your friends and family! We are entering condo-buying season and we want to make sure we get the word out and remind you about our business model.  Here @ CondoDomain.com we work on a flat fee commission, so regardless of what you buy, we are compensated the same and refund the remainder of our commission to you.  On average our clients receive more than $13,000 back from us at the closing. So, be a good friend or family member and refer them to us so they can too save thousands of dollars and thank YOU for it!  Here is how it works.

2.    Breaking News! CondoDomain.com is pumping the Boston economy with its buyer broker commission refund.   At the end of August, the company has given back more than $300,000 to its clients in Boston.  Mr. Greenspan would be so proud of us!  Our clients have used their refund to purchase new furniture, electronics, paid down condo fee’s and mortgage payments and one even bought a new car!  Help us get to $1M and refer our company and our team members to your friends and family.  Check out our team.

3.    Commission Refunds are NOT taxable! Whooohooo.  How did I miss this one?  Via one of our most favorite clients (we love you all), we got some scoop that our commission refunds to our clients are NOT considered taxable income!  So no matter if we are giving you back $5,000, $10,000 or our record breaking $35,000 cash refund - it is not considered taxable income!!!  More here on our blog.

4.    Developers & Marketing Personal Give It To Us! Our clients are thirsty for updated information on your new development.  Got news?  New details?  Cool updates?  Send it our way and we will post to our online audience.  Contact Jessica.

5.    Keith Smith, Gary Tole & Dallas, TX. We are ecstatic to announce the opening of our second market - Dallas, TX!  Local brokers Keith Smith & Gary Tole have helped us launch our flat fee buyers brokerage model in the Lone Star state.  Welcome to the team Keith & Gary and we look forward to building Dallas with you!  Visit the new Dallas website.

As always, we want to personally thank all of your for your referrals, help and support in making CondoDomain.com what it is today.

Sincerely,

The Entire CondoDomain Team
Boston & Now Dallas!
www.CondoDomain.com

PS - Facebook junkies.  Join our Facebook groups.
Boston Real Estate Exposed
Dallas Real Estate Exposed
CondoDomain Main Group

Many of you have asked us in the past:

“So when I get my commission refund in form of a check after the closing, am I taxed on this as income?”

The Answer: No, you are not.  Commission refunds given from CondoDomain.com to you are not considered taxable income.

While we are pretty good at math and very good at giving our customers back big checks at closing…we are not accountants and don’t mean to give any tax advise.  Please read below on a favorable ruling from the IRS in which Redfin (one of our fav’s) got in their request.

IRS Rules That Redfin Does Not Have to Report
Commission Refunds as Taxable Income

SEATTLE - March 7, 2007: Online real estate broker Redfin Corporation today announced a ruling from the U.S. Internal Revenue Service that Redfin does not have to issue Form 1099 to customers that receive commission refunds because such amounts generally are not taxable as income. Redfin is notifying all of its home-buying customers by mail that the company will not report their commission refunds to the IRS.

Redfin Direct combines an e-commerce application with the services of a local, experienced Redfin agent who handles home tours, pricing advice, offer presentation, negotiations, inspections and the closing process. Home-buyers who can find a home to buy on their own get two-thirds of Redfin’s commission refunded at closing.

Across Washington and California, Redfin’s average commission refund is more than $10,000. Redfin customers typically apply their refund to closing costs, which include loan fees, local property taxes and escrow-related costs as well as an initial mortgage payment. As the commission refund usually exceeds closing costs by thousands of dollars, Redfin often issues its customers a check for the excess.

Prior to Redfin Direct, commission refunds in excess of closing costs were relatively rare, and no ruling existed as to whether such amounts were required to be reported on Form 1099. Accordingly, Redfin petitioned the IRS in November 2006 for a ruling, which Redfin received from the IRS last week.

Because an individual or corporation can only petition the IRS on its own behalf, Redfin could only seek a ruling to clarify its own reporting obligation, not to address the individual circumstance of each customer’s tax return. The ruling does however state that “a payment or credit at closing from [Redfin] represents an adjustment to the purchase price of the home and generally is not includible in a purchaser’s gross income.’

In support of its ruling, the IRS cites guidance addressing a non-profit’s down-payment assistance to low-income families buying houses or a manufacturer’s rebate on a car, neither of which are taxable. The full text of the ruling is available on Redfin’s blog.

“Seeking a ruling from the IRS is not an insignificant undertaking,� said Redfin VP of Real Estate Operations David Wilner. “Rather than having hundreds of customers make inquiries with the IRS on a case-by-case basis, we felt it was the right thing to do as part of our commitment to supporting customers through every phase of the home-buying process from offer to close and beyond.�

New brokerage concept launches today in Charleston, SC - introducing Rehava a discount real estate broker offering buy side and sell side services and MORE.  We like and look forward to watching the exciting progress of this new company and concept.  Best of luck Rehava!!!

Check out their site & blog

via Inman News

 

It’s no coincidence that rehava, a real estate company that offers rebates to buyers and flat-fee services to sellers, chose to open in a retail mall in South Carolina.

 

Rehava (pronounced REE-haw-vah) offices are intended to operate much like typical retail shops in offering real estate brokerage, mortgage, home insurance and legal services, said Steven DeGuzman, the company’s founder and broker in charge.

 

The company’s first office, in Charleston, S.C., shares a building with a Starbucks Coffee shop.

 

“Like a clothing store — you’re not just going there for pants,” said DeGuzman, who has retail management experience working with the Hooters chain and also has worked in residential and commercial real estate.

 

“The whole premise is: one-stop shop. I saw how all the pieces of the real estate transaction were disconnected. Why not put together a retail environment to offer real estate, mortgage and insurance?” he said.

 

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CondoDomain.com takes second place in the 2008 Real Estate Pacesetters contest which ran last week highlighting the best of the best in real estate and technology, web 2.0 and innovative real estate companies.  See the results here

Obeo took the gold in first place.

CondoDomain.com took silver

Roost.com took the bronze

Thank you all for you support and your votes.  This was a fun event and we were estatic to just make it to the final…forget about winning a silver medal!  See you guys all next year….and Stearns…your going down! 

Candy Spelling, widow of the television producer Aaron Spelling, is downsizing.

After nearly 20 years in The Manor, a 56,500-square-foot French chateau-style home known for its size and extravagance — it includes a wine-tasting room, a bowling alley, a silver room, a china room and a well-known gift-wrapping room — she says she is ready for the next trophy property: a condominium.

“People say, How can you move from The Manor? There’s no place like it,� Mrs. Spelling said, sitting in the library with leatherbound scripts of every episode of Mr. Spelling’s shows, from “Charlie’s Angels� to “7th Heaven.�

But a condo, she said, “is no different than a house, maybe even better.�

Mrs. Spelling is the most conspicuous buyer in an ultraluxury condo market that is new in the sprawl of Los Angeles, where wealth and fame have usually spelled out “estate,� not apartment living. But real estate experts say a New York-style luxury high-rise lifestyle is creeping into the wealthiest echelons, fed by trends like people looking to own more than one home, foreigners drawn by the weak dollar to invest in Los Angeles, and new residential buildings being designed by celebrity architects like Robert A. M. Stern, Richard Meier and Jean Nouvel.

Mr. Stern designed The Century, the 140-unit building under construction where Mrs. Spelling recently bought the top two penthouse floors — 16,500 square feet — for $47 million.

That’s $2,848 a square foot, if you’re counting.  CONTINUED>>>

Source:  NYTimes

Coming Soon our LA Condo website.

Credit crunch, mortgage fallout, rising rates -  don’t really effect the nations wealthiest all too much.  In this recent article which highlights some top U.S. markest including Boston, NYC, San Francisco and even Miami, the High End Condo Market contiues to be white hot!

The article…

We are a finalist in the Real Estate Pacesetter 2008 put on by Inman News and their Real Estate Olympics for most innovative, web 2.0 real estate company.

If your a member of Inman News please Join the Real Estate Trends Group

And

Vote for us Here

“This week, till Friday 6PM Pacific, the Trends Community Blog will accept nominations of Companies that you consider to be one of the industry premier Pacesetters in our industry. Companies that are creating and leading our industry towards change. Then over the coming weekend I will select among all the nominations the Top 8 finalists that will be posted next Monday the 18th. Next week all members of the Inman Trends Community will each have one vote to help determine which three companies are our medal winners for the title: Real Estate Pacesetter 2008.”

What are you voting for? Well at the core of this Olympic Race for innovation in the real estate vertical are these 4 attributes:

1. Innovative Web 2.0 company or user of Web 2.0 technology

2. The size, need and demand for the companies/services

3. The quality or uniqueness of their services

4. The potential impact of their services on the industry We belive we served these line items better than anyone else…read our presentation below.

We here at CondoDomain.com (http://condodomain.com – Boston is currently live @ http://boston.condodomain.com) believe we are not only at the cutting edge of the transformation that is occurring in real estate, we are also helping to reshape the entire industry. Headquartered in Boston, we operate as a web-based buyer’s brokerage company and offer full, buy-side services for a flat fee. After all, why should a buyer’s broker be compensated more if their buyer spends more? That’s backwards in our opinion!

I believe we are at the commencement of the decoupling of the ‘traditional’ real estate model. The old model of full, ‘bundled’ services of showings, negotiating, listing, etc. etc. etc. are beginning to be offered in an a la carte fashion to provide the ever increasingly web-savvy real estate consumer with CHOICES. While I do not believe the full service brokerage model will ever fully go away, I do believe that within the next 2-5 years, brokerages will begin to offer buyers a wide array of options in order to accommodate the various demographic and generational behavior patterns that are already emerging in the marketplace.

1. As an innovative and forward thinking company, CondoDomain.com continually implements the latest technologies. For instance, within a week of Google releasing their ‘Street View’, we implemented it into our site and our buyers and fans love it. One of the main components of our platform is to bring all data, without exception, to the surface so our clients can get a transparent and complete view of each property.

We are also finding and engaging customers through the various social aspects of web 2.0 - Facebook, LinkedIn, Trulia among several others - and we communicate with everyone through all means: IMing, Emailing, Video conferencing, Txting, mobile phoning (of course!) and yes even, believe or not, regular mailing! We make ourselves accessible however our buyers want us to be accessible.

2. As a web-based (virtual office) business, CondoDomain.com targets high-density cities because they attract a high population of young savvy professionals, middle-aged single and/ or divorced buyers, and empty nesters. We focus on these individuals because, on average, they make more money, they move more frequently, they are heavy Internet users, they are more educated and they are one of the fastest growing and highest spending groups in the industry. Focusing on this vertical, CondoDomain.com taps into the new construction condominium market, which has a much higher profit margin than the traditional re-sale market.

One of the biggest advantages of our company’s business model is the timing. With a rising inventory, condominium developers are now (finally!) marketing to the real estate brokerage community. The need to access buyers has become more important than ever. Evidence of this is shown by the increase of cash bonus incentives and commission structures marketed towards the local brokerage communities and their agents.

In 2006, there were over 1,000,000 sales of condominiums and co-ops. Many developers saw opportunity in the surge and began large-scale projects. Since then, the market has slowed, with pre-construction sales dropping in numbers and inventory increasing.

Experts expect buyers to take advantage of the over-saturated market, which developers are desperate to dispose of. Large condominium developers & marketing firms, like Florida’s largest private real estate firm, Fortune International, have created accelerated marketing programs with cash bonuses and commission fees up to 10%. Many of CondoDomain.com’s other clients - The Carlyle Group, MCZ/Centrum Properties, Draper & Kramer, Inc. and Crescent Heights - have all initiated incentive marketing programs to increase sales, which will supplement our company’s gross revenues.

The current economic conditions support our business model even further. What buyer is going to walk away from a $13,000 check at closing (our average client refund)? Refunds this size or more pay for years of condo fees, new furniture or closing and moving costs - it is a lot of money! The demand for our service is steadily growing because buyers realize that they can save a ton of money doing a lot of the initial research themselves; this is, of course, work that they are ALREADY doing.

3. Quality and uniqueness is at the core of our business model. Our website, which is our #1 sales agent, is one of the most up-to-date pieces of web technology in our industry and we know it is one of the best for condominiums and for real estate in general. We are a niche player and we only work with buyers making us just that much better at it. We know urban markets, we know condos!

4. Being an urban player, we play a significant role in the future of real estate. Most innovation and concepts start in city centers - in high density populations and then they spread out. In the not too distant future, we anticipate seeing suburban players taking our successful model and replicating it in their local markets.

We look forward to your feedback and brokers/agents interested in joining us in the next revolution of real estate should get in touch immediately!!

Brian-Logan Reid
National Director of Real Estate
http://boston.condodomain.com

Like what we have to say….please do vote and help us win this award! Thank you!!!

Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the National Association of Realtors (NAR). Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country.

In the condo sector, metro area condominium and co-operative prices, covering changes in 54 metro areas, showed the national median existing-condo price was $220,000 in the second quarter, down 3.0 percent from $226,900 in the second quarter of 2007. Seventeen metros showed annual increases in the median condo price and 37 areas had price declines.

“The price changes have probably as much to do with supply and demand fundamentals, as anything else,� Paul Bishop, NAR senior economist and managing director of research, tells MHN. “The markets that saw the biggest decreases in condo prices are the ones that has seen a condo boom in the last several years and the prices are now coming down. Many of these markets have also weakened due to rising foreclosures in the single-family sector.�

Meanwhile, Bishop explains that the biggest performers did not see the big run-up in prices between 2001-2005, the way some of the other markets like Las Vegas, Miami, etc. did. “Neither did the stronger performers experience excess inventory,� says Bishop.

The strongest condo price increases were in the Syracuse, N.Y. area, where the second-quarter price of $144,900 rose 17.8 percent from a year earlier, followed by the New Orleans-Metairie-Kenner area of Louisiana, at $192,100, up 15.9 percent, and the Houston-Baytown-Sugar Land area of Texas, where the median condo price of $141,100 rose 9.9 percent from the second-quarter of 2007.

Metro area median existing-condo prices in the second quarter ranged from $107,500 in the Wichita, Kan. area to $523,500 in the San Francisco-Oakland-Fremont area. The second most expensive condo market reported was Honolulu at $330,000, followed by Los Angeles-Long Beach-Santa Ana at $327,800.

Other affordable condo markets include Greensboro-High Point, N.C., at $109,600 in the second quarter, and the Indianapolis area at $113,500.

“There are substantial variations in the condo market depending on the regions and quarters, but some of the smaller and mid-size markets reflect the underlying strength and stability of the economy,� Bishop explains.

Source: Multi-Housing News

CondoDomain.com appoints Director of Real Estate in efforts to expand their new web-based buyers brokerage real estate model nationwide into its 33 pre-existing markets.  Now operating in Boston (since January ‘08) CondoDomain.com is now ready to expand into its 3 year old network across the U.S.

Brian-Logan (”B-L”) will lead these efforts as the Director of Real Estate.  He will oversee the initiation and launch of satellite offices across the country for CondoDomain.com. Working alongside CEO Tony Longo, B-L is responsible for recruiting and managing all new brokers nationwide as well as advising on the strategic, long-term business model of CondoDomain.

Prior to joining CondoDomain, Brian-Logan worked in the resort destination of Nantucket as a real estate broker, coordinating high end sales and luxury rentals.

B-L received his diploma from The Loomis Chaffee School and his Bachelor’s degree in Psychology from Middlebury College. He was a member of the two-time national championship lacrosse teams in 2001 and 2000 while simultaneously running a moving and storage company for three years. B-L’s business acumen in addition to his broad range of skill sets makes him an invaluable member of the CondoDomain corporate team.

B-L - WELCOME TO THE TEAM….WE ARE ESTATIC THAT YOU ARE HERE!!!

Check on Brian on CondoDomain | Facebook | LinkedIn

This is some very cool stuff.  We love to see a continuous push on technology in this real estate spectrum.  Glenn Kelman and Team continue to push the envelope.  Also rumor has it Redfin obtained profitability last month…any confirmation on that?

Press Release via Redfin Corp.

Online real estate broker Redfin today released a major new version of Redfin.com that allows consumers to evaluate neighborhood inventory and pricing trends, using data previously accessible only to real estate agents. For each neighborhood, city or postal code covered by Redfin, consumers can view new listings, price reductions, open houses and trends on how many homes are selling, how long they are taking to sell and at what price.

No other website provides metrics for each neighborhood from the Multiple Listing Services used by brokers to list properties and record sales.

“Housing numbers for all of Boston or Los Angeles don’t mean much to someone shopping in a particular neighborhood, which may be holding up while prices across the tracks are collapsing,â€� said Redfin VP of Real Estate Operations Scott Nagel. “This is the first time consumers have gotten data at the neighborhood level they can trust, straight from the agents actually putting properties on the market.â€�

The new version of Redfin.com also lets consumers map their favorite listings, organize Redfin-assisted home tours, and evaluate the Redfin agents with whom they’ll be working; for each Redfin agent, consumers now can see the details on every recent home she has helped buy or sell. Finally, the release adds thousands of for-sale-by-owner listings from Redfin partner Zillow.com, extending Redfin’s advantage in showing more houses for sale in its coverage areas than any other site. Continue @ Redfin Blog

We Love Redfin in Seattle, D.C. SF, LA & Orange County….but remember to call us when your looking to buy in Boston

Can you name two key components to kick off a new CondoDomain market?

You got it. A web cam & a Starbucks card!

Calling all innovative and NON-traditional real estate brokers & agents - Join our team. As you know we are well on our way in our first market as a web-based buyers brokerage here in Boston and now looking to open our 2nd market in the very very near future - Dallas, TX! After we launch Dallas we have approx 31 markets left in our initial first phase.

Interested? Love Dot-Com’s? Love Real Estate? Learn more here on our Facebook Group or contact Brian-Logan Reid (BL) for more detailed information.

Check out this article released by the Associated Press regarding negotiating a real estate commission from traditional full-service real estate companies.   Now most of this article really compares the “Sell Side� of the business and not the “Buy Side� where many innovative companies have really come in to shake up the industry such as  - umm Zip Realty, Redfin, Iggy’s House, BlueRoof & umm us (CondoDomain.com).

Don’t be shy about haggling over what you pay your real estate agent.   A study released Monday by Consumer Reports found 71 percent of sellers who negotiated for lower commissions with their brokers were successful. But only 46 percent of sellers surveyed tried.Those who paid commissions of 3 percent were just as satisfied with their broker’s performance as those who paid 6 percent, the study found.

The lesson? Haggling won’t hurt.

In fact, those who paid higher commissions were more likely to have regrets about the selling experience. Nearly one-third of them said they should have been more aggressive in negotiating a fee.

Sellers were most likely to get lower fees from independent and RE/MAX brokers, said Mark Kotkin, director of survey research at Consumer Reports.

“But they will all negotiate. Just ask for it,� he said. “It’s like buying a car. A lot of people think (the price) is set, but it’s not.�

Independent brokers may be more likely to negotiate fees since they keep their entire commission, while those who work for other brokers typically split commissions with the broker in exchange for marketing and office support.

About half the home sellers surveyed paid less than 6 percent in commission. The study is being published in Consumer Reports’ September issue. The issue also includes tips on which home improvements provide the biggest pay off.

Continued…

A Boston restaurateur who banked on the allure of Donald Trump’s name in deciding to buy a Fort Lauderdale, Fla., condominium-hotel unit alleges in a lawsuit that he is the victim of misleading marketing.

In the lawsuit filed Monday in Broward Circuit Court, John Taglieri also contends the developer of the project violated state securities and condo laws.

SB Hotel Associates LLC failed to register Taglieri’s unit at the beachfront Trump International Hotel & Tower as a security, though it was marketed as an investment opportunity, and wrongly promoted the project as a Trump development, according to the lawsuit.

The lawsuit claims marketing material indicated the units would be worth 36 percent more with the Trump name.

Trump is not the developer and does not have any agreement to indicate the project will operate under the Trump name when it is completed, according to the suit.

Taglieri put down $146,000 in December 2005 for a $730,000 unit in the 298-unit tower under construction at 551 N. Fort Lauderdale Beach Blvd. (A1A). He was told the 24-story development would be complete in 2007.

“The impetus for the lawsuit is frustration with purchasing a product he thought he was getting that was heavily promoted in a certain way by the developer and realizing that’s not the project that will be delivered,” said Taglieri’s attorney, Jared Beck of Beck & Lee in Miami.

“In this market, misrepresentation and failure to deliver what’s promised are things a developer cannot afford to get away with,” he said.  Continued…

Source: Law.com

More Blogs on:  Condo-Hotel | Trump

Rarely available unit at The Carlton House at 2 Commonwealth Ave. Stunning front facing corner unit on Arlington St and Comm Ave with incredible views of the Public Garden and Comm Ave Mall. The unit was 2 units which were combined and completely gutted and now ready for build-out. Two valet parking spots are included. This is an unique opportunity for someone who has been waiting for a home in this location in the Carlton House, and re-design the unit to their taste and lifestyle.

While we were at it showing this very rare unit right next to the Old Ritz Carlton Boston Common…now The Taj Hotel….we thought we should show off our new mapping also!  Check out our Google Street View implementation into our site.  Man…we are loving innovation in this industry!

Price: $5,000,000

Refund:  $120,000 when you buy with CondoDomain.com

2 Commonwealth Ave
Unit # 8C/D
Boston, MA 02116

MLS # 70731061

Status: Active
Type: Condominium
Beds: 3 Bedroom
Bath: 3 (Baths)

Sq/Ft: 2810
Price per Sq/Ft: $1,779.36
Condo Fee: $2,851 (monthly)
Taxes: $33,090 (annual)

Estimated Payment: $25,609

Listing Courtesoy of Coldwell Banker Residential Brokerage - Boston - Commonwealth Ave.
Florence Mackie

Search more Back Bay Condos

Search Boston Condos in style now! CondoDomain.com has updated its search page! Now even more through, and faster than ever! Search by Open Houses Only, Search New Listings within 5 days, Search by Map Only or Quick List Only…the list goes on.

Other website upgrades include “My Matches” which automatically saves all properties that match your “Email Alerts” in our system and “Show Me Everything” which allows you to see every piece of MLS information right on our website including: Building Information, Heating/Cooling, Price Changes, Water/Sewer to tax information….we have it all now!

Logon and Search Today

PRESS RELEASE

CondoDomain.com Launches New Website

Boston, MA– CondoDomain.com announced today that they have launched the newest version of their website featuring enhanced state-of-the-art technology, exceeding customer demands by allowing registered users even more transparent data from MLS listings and expanded options to view properties online.

The new site not only follows new MLS rules and regulations, but also aims to enhance the experience of potential buyers through expanded, user-friendly search capabilities. New technology implemented into the website includes dual use mapping with Google Maps & Microsoft Virtual Earth, both offering unique imaging from aerial and street level views. Other features include a brand-new search interface and more property details. These new features will make it even easier for users to view property in more detail, making the search and compare process even more time and cost effective for both the company and users of the website.

“As a web-based real estate company, our website is always #1 on our list. The need to stay on top and provide the most thorough set of data in an easy-to-use interface and do it with speed is our #1 goal,� noted Anthony Longo, Founder & CEO of CondoDomain.com. “Consumers want to see everything, they want to be able to parse through it, and they want it fast. Our updated site will allow them to do just that.�

For over three years, CondoDomain.com has been online trying and testing different web techniques to interact with buyers of real estate online. Utilizing the innovative search platform, registered site users are able to browse the entire website for Boston condos and luxury Boston real estate. Here they will find every MLS listing, every new development and existing condo building, foreclosure listings, FSBO (for sale by owner) properties and even upcoming auctions.

CondoDomain.com aims to open its second market this month, in effort to expand to their pre-existing 33 U.S. markets.

About CondoDomain.com

CondoDomain.com is a web-based real estate brokerage based in Boston, MA. The company is expanding nationwide to offer its buyers’ brokerage services in more than 30 cities around the U.S. Currently operating in Boston, CondoDomain offers an innovative flat-fee business model allowing the majority of the commission to be refunded to the buyer. By combining up-to-date MLS feeds, new construction buildings, FSBO, Foreclosures, Lofts and Auction listings all on one site, CondoDomain has become one of the most popular and user friendly real estate websites available. CondoDomain.com offers a 100% satisfaction guarantee to all of its clients, ensuring a professional, efficient, and pleasant transaction. Visit www.CondoDomain.com for more information or feel free to dive into our blogs at www.CondoDomain.com/blog.

For more information, please contact Erica Farthing at (877) 852-6636.