Admin

Point2's C.O.O Brendan King and some other "key people" all resigned from Point2 this week

By
Industry Observer with No longer practicing real estate as of 2008.

"Earlier this week, Brendan King and Jeff Tomlin tendered their resignations to Point2.  Others at the management level also chose to part ways with the company."

"These people are visionaries, and have been very important to Point2 Technologies Inc."

Those statements were taken from a post that was posted last evening over on the Point2 REliberation blog.

Jay had some speculation yesterday with a post on his blog, where he was wondering if something was up at Point2.  

What will the future hold for Point2 and where did Brendan King, Jeff Tomlin and those other management level people go to?  I don't think it was a kwinky-dink (coincidence) that they all resigned on the same day or week!

____________________________________________________________________________________________________

Update:  It was mentioned on Jay's blog in the comments (and was confirmed on RElib by a Point2 employee) that the Chief Operating Officer, the Chief Technology Officer and 4 Vice Presidents are some of those that resigned.  I am not sure if that was all that left or if there are more. 

The people that were mentioned that left are as follows, as well as how long they worked for Point2.

Ches Hagen 11 yrs - VP of Cat/Heavy Equipment
Jason Collins 10 yrs - Chief Technology Officer
Brendan King 9 yrs - Chief Operating Officer
John Fothergill 9 yrs - VP of Product Development
Jon Lesvesque 9 yrs - VP of Systems and IT
Jeff Tomlin 6 yrs - VP of Business Development

Update 2:  2 others have also been named that have resigned.

Allan Wolinski 10 yrs - support team manager (?)
Greg Miller, VP of Marketing

Point2 will be issuing a full release within the next 48 hours.

Stay tuned....

Update 3:  Inamn news also reports on thsi news

Inman news just posted this story this morning.  In it, Brendan King was quoted that he did not agree with the way the direction the company was moving and left for personal reasons.

The press relese from Point2 is due out today the 11th.  We shall see what they have to say!

Comments(18)

Show All Comments Sort:
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

WOW, this is big news! I wonder what the future of P2 is and it maybe your idea with your mom to leave p2 was very smart.

Todd

Dec 08, 2007 03:22 AM
Becky Troutt
No longer practicing real estate as of 2008. - Bradenton, FL

Todd, I have no idea what the future holds and am curious like everyone else.

You should never"put all of your eggs into one basket."  Also, we never "left" point2 all together, we opted not to continue to pay for the service anymore on one site, but my site is still a professional, so I am still paying as of today.  That will be changing soon (as I have stated in the past).  It doesn't have anything to do with all these guys leaving the company, it was a decision we made a while back.  We have since created another website that will in turn do the same things our P2 sites did, yet not have to pay the reoccurring monthly fees.

We will still keep the free sites with them.

Dec 08, 2007 03:45 AM
Linda Futral
Newnan, GA
I have a free site with them and had been thinking of changing this. This just means I need to investigate the other free site I found and maybe get it up and running.
Dec 08, 2007 03:53 AM
Debbie DiFonzo
Debbie DiFonzo - United Country VIP Realty, SW Missouri - Lebanon, MO
Lebanon MO and Buffalo Missouri Real Estate

Thanks Becky! I usually read Jay's "stuff" but have been way behind. Found your post - glad I did!

Should be very interesting to watch -

Dec 08, 2007 11:24 AM
Becky Troutt
No longer practicing real estate as of 2008. - Bradenton, FL

Time will tell. I would like to see them formally announce what is still in store for Point2 and if they ares till headed in the same direction as they have been.

If all those guys left and end up as competition, where will that put Point2? If they don't, then it's no worries.

Maybe we shouldn't be speculating.....I dunno! Guess we will just have to sit back and see what happens!

Dec 08, 2007 02:19 PM
Kelly Pangburn
Pangburn Properties, Inc. - Grant, MI
Associate Broker
It's sounds like there is more to it than meets the eye.  Call me a pessimist, but with that many people top execs leaving in a week sounds like a conspiracy to me!!!  They've got to have something else up their sleeve.  No one quits their job without a "Plan B".
Dec 08, 2007 02:42 PM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Well, I didnt' know this.  My P2 website has been wonderful and it's free on top of that.  When that many top dogs leave at the same time, you really have to wonder what's up.  Thanks for the news.
Dec 08, 2007 06:33 PM
Becky Troutt
No longer practicing real estate as of 2008. - Bradenton, FL

Well I don't think everyone should go out and cancel their P2 sites.  I do think the fact that so many people leaving the company all during the same week should raise several red flags though.

Yes it's corporate, but at the same time, when you have that many "key players" in the game (keep in mind that P2 is roughly 100 employees or so, not thousands) all leave at the same time, there will be an impact of some sort.  It's just a matter of how big that impact will be.

Dec 09, 2007 01:44 AM
Jay Thompson
Jay.Life, LLC - Aransas Pass, TX
Thanks for posting this Becky. The ever-growing and lengthy comments on my blog post about Point2 are quite interesting.
Dec 09, 2007 02:56 AM
Becky Troutt
No longer practicing real estate as of 2008. - Bradenton, FL
You're welcome Jay,  I have been following your blog and RElib very close!
Dec 09, 2007 12:36 PM
Gary Morris
MLS Realty of Indiana - Indianapolis, IN
Never mind...maybe...I have access again.
Dec 11, 2007 04:48 AM
Roland Woodworth
Benchmark Realty - Clarksville, TN
Benchmark Realty

point 2 sites seem to be working fine...... what about for you ?

 

Feb 16, 2008 03:06 PM
Randy Lyon
Kettley and Company - Oswego, IL

Hi Becky,

I have not heard from you in a while. I hope you're doing well. I see the boys have stuck together for the most part and formed their new company. "Vendasta" they claim to be working on something to do with auctions. It will be interesting to see if it heavy equipment, real estate or both.

Mar 05, 2008 07:01 AM
John and Lisa Marker
RE/MAX Dream Properties - Northville, MI
Please someone explain to me the buzz about Point 2 websites..
Mar 05, 2008 10:08 AM
Lanre-"THE REAL ESTATE FARMER" Folayan
ERNAL REAL ESTATE GROUP with Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

John and Lisa Marker - Only thing that I can think of is the standard websites are free. However,I hear they stopped giving free websites last month. I use it because my standard website is free. However,I need drip e-mail campaigns and something to improve my Search Engine Rankings on the major search engines.

Becky - Thanks for the information. Great post.

Mar 11, 2008 11:43 PM
Wendy Smith
Wendy Smith Real Estate - Ocala, FL
Real Estate Advisor
I have the free website but was  considering an upgrade - I'm glad I waited but I must admit, people always seem to find my listings on my Point2 site - they definitely rank well
Mar 12, 2008 12:31 PM
Wendy Smith
Wendy Smith Real Estate - Ocala, FL
Real Estate Advisor
p.s.  I don't get the handshake thing.  I think that's kind of goofy and just ignore it.
Mar 12, 2008 12:32 PM
Teresa Berry
Seattle, WA

I have a free point2 site as well - really like the virtual tours and the syndication is great - if you're looking to change however or just to add- check out alamode sites I think they have an impressive professional platform with some good resources - CHEERS!

Real Estate, Mortgage, Inspector, and Appraisal Websites if you're interested - here's a link -
   alamode,inc    http://www.alamode.com/

 

Mar 19, 2008 04:28 PM