"THE REAL DEAL"...Or Is It???

By
Real Estate Agent with Douglas Elliman Real Estate 30HA0800896

"THE REAL DEAL"....or is it???

I just read an article in The Real Deal, a New York real estate news paper, and found that the front page article (which was covering the Hamptons real estate market) covered only 2 offices: Sothebys and Corcoran (both owned by REALOGY) and showed ONLY the top agents from those 2 firms, calling them the top agents in the Hamptons. Loaded with amunition regarding the volume each holds in listings, the point was made that these are the only agents worth their salt in the Hamptons. Meanwhile nothing is mentioned about the agents who had record sales for 2010 from Elliman....We sold more than either of the other firms!

Because of the competative nature of the real estate business here in the Hamptons and because the readership is concentrated in Manhattan,  (the main source of Hampton's buyers) this one-sided issue of The Real Deal has me steaming!!! Talk about free advertising!

Click here to flip through The Real Deal's June issue in a new format. 

....Meanwhile, Prudential Douglas Elliman, which is the largest firm in the Hamptons and New York City, was not mentioned until the 2nd page and then there was only a brief paragraph talking about the "difficulties" the company is having!!! With 319 agents here (more than any other local firm) we came in first among all other agencies in the Manhattan to Montauck selling area.

The paper does have an article covering Elliman; in that article in the back section of the paper, The Real Deal excoriates the whole firm, from Dottie Herman to Howard Lorber (the owners of Elliman) and presents a view that is utterly disgraceful in it's one-sided opinion. 

NOW, FOR THE QUESTION OF THE DAY: Why does a newspaper, supposedly the number one source of "real" estate news in the area, come to the industry with this kind of one-sided journalism???

I do know that the firm Realogy, has been suffering their own struggles for the last 4 years yet this was  mentioned, almost as an "aside" comment. 

The immense photo representation and free advertising for the 2 secondary firms here was disgraceful in it's "push" of the 3 agents...how they got that done is the $64 Million Dollar question!!!

The reason I say this is that the top 4 properties, in terms of price in the Hamptons, were SOLD by Elliman, and that was completely left out of the article. Over $80 Million in new listings just came on the market with Elliman as the listing agency! Those are 4 ocean front properties each in the $20 Million range!

Does anyone here on ActiveRain read this paper? I know it is read online too but don't know how widespread the exposure is.

Would love some feedback if you have any,  about this publication...Just an opinion would help!!!

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Ambassador
2,790,459
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Paula - I don't think you're dealing with journalism here, so much as the publishing business. The clue is probably in the amount of advertising each firm does with the paper - at least that's how it works here.

Jun 13, 2011 03:30 AM #1
Rainer
142,810
Michele Norris
Crystal Realty - Incline Village Nevada - Incline Village, NV
((( Buy or Sell, Call Michele ))) Lake Tahoe NV

Hi Paula,

Sounds like a couple Agents have the reporters in their back pocket.  A bright idea: Get all your facts together and contact publisher--who knows. You may turn into their newest, best informed source of info--without having to buy the coverage. That could be a long shot, however!!

Jun 13, 2011 03:42 AM #2
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Dick: You made me feel much better!...The question now is: Do the readers in NYC who buy properties out here realize the difference? I don't think so--what an underhanded way to get attention.

Jun 13, 2011 04:08 AM #3
Ambassador
2,790,459
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Palua - we don't tend to worry about this kind of thing too much here in "flyover" country, since no one is using newspapers for real estate information anymore - almost all of the buyers are on-line, so we're all doing what we can to enhance our visibility there. But you live in a unique world, and from perusing my Sunday NYTimes, I see that there's still a lot of print advertising going on.

Jun 13, 2011 04:14 AM #4
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Michele: I guess that is the way I need to look at it...because it is probably true! Ineed to keep my nose to the grindstone and get the business that is coming  my way from my blogging!!!

Jun 13, 2011 04:16 AM #5
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Dick: Yes, my print advertising just increased by 1/2 because that is still the way you attract buyers here in The Hamptons-- relaxation is the key and people do read at the ocean or by the pool! The more time spent "laid-back" the more time to read anything that is handy.

Jun 13, 2011 04:19 AM #6
Rainmaker
506,030
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Paula, I often do find articles swaying to benefit big sponsors, even when I was in cosmetic package design, it was always certain companies who got there name in print over the others. I believe your reputation speaks for you!

Jun 13, 2011 06:59 AM #7
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Ellen: Thank you so much for the support--this was a real shocker when  I saw it...not because of Harold Grant--he is a legend in his own time; but the other 2 agents do not deserve the accolades and it is really misleading to say they do!

Jun 13, 2011 07:07 AM #8
Rainer
240,177
Peggy Hughes/pha logistix, inc.
pha logistix inc - San Francisco, CA
SF NYC LA

Paula... you have such great presence in the Hamptons that I agree with Michelle, Ellen, and David... get your Point of View out there!!

Jun 13, 2011 03:26 PM #10
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

David: Thank you for reading and I agree; the only thing is, I do beleive that the amount of advertising done in that paper is the criteria with which they determine the coverage so it may not mean a thing when I do make contact....will do so, however, just to make sure that thy have thte accurate data.

Peggy: Thanks for the support and I am going to make contact this morning!

Jun 13, 2011 10:30 PM #11
Rainmaker
158,800
Deborah "Dee Dee" Garvin
C2 Financial - San Diego, CA
C2 Financial

Paula, Unfortunately, there s very little "journalism" out there...or, shall I say most of it is "yellow journalism" (a term from my college sociology class indicating that the "journalist" is reporting in a manner to sway, or impress, the reader into believe a pre-determined point of view).  Whether in a newspaper, magazine or news channel; each has it's agenda (IMHO) and, therefore, it is important to either avoid all or read all to really enlighten oneself.  Sorry for my drift from the lack of integrity of this paper on the real estate in your area...I just bet there is a lot more of the same in the rest of the paper.

Jun 15, 2011 03:02 AM #12
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Deborah: I see you rpoint and I have given this whole idea a lot of thought....the shame of it is the fact that it is a paper that has a huge readership of the Hamptons customer base, i.e. the Wall Street community. 

Jun 15, 2011 03:37 AM #13
Rainmaker
158,800
Deborah "Dee Dee" Garvin
C2 Financial - San Diego, CA
C2 Financial

Paula, In that case I suggest following Michele's advice and getting a little PR out there on the sides.  Or, how about a very carefully crafted letter to the editor (honey gets more flies) not so much down grading the article, but embellishing it with some of the facts.  Readers of the Wall Street area (IMHO) are a savvy lot and will see through the stuff.  Of couse, it would be great to do a mini deluge of letters from clients and other agents.

The good news is that I suspect you have a fairly discerning demographic...people who blindly accept a specific publication's viewpoint as gospel scare the heck out of me.  Wish you success in this....ultimately, i suspect you will overcome without much involvement at all, because cream always, always rises to the top.

Jun 15, 2011 03:56 AM #14
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Rainmaker
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Paula Hathaway, REALTOR, LBA

...The Most Informed Agent In The Hamptons!
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