Friday Fotos: De Ja Vu

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Real Estate Agent with Compass

Foxtons defunct discount broker

 

This morning as I left my building, I noticed my friendly produce vendor's push-cart had a familiar umbrella that I hadn't seen in a few years. Foxtons, the now defunct 2% real estate broker from London. Foxtons tried to make a big splash here several years ago. They spent $billions in negative advertising against full service brokers. Their advertising didn't work. They barely made a dent in the market before going out of business.

Oh well! An umbrella is still an umbrella! I still use Pan Am's first class travel kit. The only difference - Pan Am was a great airline!


 

iPhone photo courtesy of:

Mitchell Hall, Associate Broker, The Corcoran Group


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Rainmaker
268,276
John Thomas
E3 Green HOMES - Boulder, CO
EcoBroker, MSEE, MBA

Imagine, an umbrella as a collector's item!

Jul 16, 2010 11:19 AM #17
Rainer
81,507
Louis Snitkin
Halstead Property - Manhattan, NY
"Results That Will Move You"

Thanks for the Friday chuckle Mitchell.  It isn't easy to get a foot hold in this market, and New Yorkers didn't buy their approach.

I love the little fruit stands around the city! Looks as if this one is on Broadway in the 60's? 

Jul 16, 2010 11:19 AM #18
Ambassador
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Wonder if they picked these up at a thrift shop or were given them to help promote the company.  Either way it is funny to see there is something left of the company :-)

Jul 16, 2010 11:29 AM #19
Rainer
99,425
Curt Hess
ExecuHome Realty - Annapolis, MD
Luxury Home Consultant, Team Leader & CEO

Funny. Great legacy, heh?

Jul 16, 2010 11:49 AM #20
Rainmaker
368,690
Miriam Bernstein, CRS
Rochester, NY

think the owner of the fruit stand is an ex Foxton's broker?  Great shot.

Jul 16, 2010 12:14 PM #21
Rainmaker
885,937
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

They had quite a bit of market share in New York in terms of listing inventory, but they sold comparatively little.

My company's first deal in 2005 was with a Foxton's listing.

Jul 16, 2010 12:23 PM #22
Rainer
92,061
Kathy Kenney
Keller Williams, Princeton, NJ - Robbinsville, NJ
Realtor - Princeton & Central NJ Homes for Sale

Probably got the umbrellas off of Ebay!  Oh, they were in this area, and they were horrible.  So for those of you who didn't have the "pleasure", count your blessings.  They did a number on people left and right.  So happy that they closed up shop, and beat feet out of town, leaving a gaggle of homeowners who had to ride out their listing agreements, as Foxtons wouldn't release them.  Can you imagine?  I understand that same group of people are now in Florida, operating under a different name.  Maybe that's why Florida real estate is in such turmoil!  (just kidding!)

Jul 16, 2010 12:31 PM #23
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 

Let's make this a double feature. Featured in the group Friday's Fotos...

 

Jul 16, 2010 12:59 PM #24
Rainmaker
597,761
Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

Thanks for all the comments and the features. I dealt with Foxtons once. They didn't want to cooperate with other brokers or have another broker involved in the transaction. I pursued and pursued and their seller ultimately accepted my buyer's offer that included my fee.

It would be funny if the vendor was the former CEO. The fruit stand owner has been in the neighborhood for a long time. I never noticed an umbrella before. It is very hot out today. I will ask the vendor where he got the umbrella.

The fruit stand is usually at 89th and Broadway. Today he was at 87th and Broadway. The building in the background is The Belnord. A full block, Renaissance Revival, architectural landmark built in 1908. It's a rental building with grand apartments and an amazing courtyard and driveway. (I feel a blog coming lol)

Jul 16, 2010 01:58 PM #25
Rainer
332,713
David O'Doherty
Raleigh Realty Inc - Clayton, NC
Clayton NC Homes, Raleigh, NC

Love it, what a great sight, can you send it to anyone from that company courtesy of the 180,000 plus Active Rainers

Jul 16, 2010 02:50 PM #26
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Mitchell,

A testament to capitalism, where you can fail just as easily as you can succeed.

Rich

Jul 16, 2010 04:29 PM #27
Rainmaker
449,857
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Hi Mitchell~  Most people that focus on the negative never make it in life or in business.  Funny how that works out, isn't it?

Jul 16, 2010 04:48 PM #28
Rainer
332,782
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

Mitchell,

Still today I shudder when I think of Foxtons. In my area, they did just enough to hurt most of us before becoming pushcart vendors...

Jul 16, 2010 04:48 PM #29
Rainer
437,789
Terry Chenier
Homelife Glenayre Realty - Mission, BC

Mitchell,

At least the umbrellas served some useful purpose after all.

Jul 16, 2010 05:31 PM #30
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I got an umbrella from a local title company that died the very first time I opened it. Well, at least this umbrella lives on.

Jul 17, 2010 02:50 AM #32
Rainmaker
716,233
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

I wrote a blog about foxtons during my first month on AR.  They left their clients high and dry - stopped acting as brokers for over a month and froze that inventory  - so they could sell the listings to the highest bidder.  The sellers couldn't sell because no one was answering the phone at Foxtons and they were not being released from their contracts.  In a bad market - heading towards the winter season it was a mess for these folks.  In some ways they got what they deserved - If it LOOKS too good to be true -then it probably is.  You can't effectively move real estate at such a low cost.

Jul 17, 2010 06:29 AM #34
Rainmaker
2,496,504
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Mitchel - You have captured a great picture to illustrate an equally great real estate history lesson.  Thanks for posting!

Jul 17, 2010 10:35 AM #35
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Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Great photo Mitchel, and very profound indeed.  I still use my travelocity umbrella they sent me years ago.  At least they are still around!  Gotta love NYC!!!

Jul 21, 2010 02:36 AM #36
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Mitchell going negative on your competitors don't work; Foxton found out the hard way.  I think the umbrellas are doing the job, I can so relate I still use products from companies no longer in existence.

Jul 21, 2010 04:35 PM #38
Rainer
128,855
Dan Quinn
The Eric Steart Group of Long & Foster Real Estate - Silver Spring, MD
Dan Quinn

That is too funny.  Bill, your comment about the CEO pushing the cart is a real hoot.

Jul 23, 2010 11:47 AM #39
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Mitchell J Hall

Lic Associate RE Broker - Manhattan & Brooklyn
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