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White Elephants in Real Estate

By Ed Kaminsky

Real Estate Agent with Kaminsky Real Estate Group/Shorewood Realtors

January 06, 2009 07:49 AM

So, this was a fun interview with The Today Show, where they explored "White Elephants" in today's Real Estate market. Given the amount of work I do with pro athletes and luxury estate homes, I definately see this on a daily basis--as I just built one myself--some of the images in this segment are of the house I just built in Manhattan Beach. Though it would be considered a white elephant by most standards, I truly love it and have set my 2009 goals to ensure that I can properly "feed" it!

click to watch Today Show "White Elephant" segment

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James Wirth

Everett, WA

Ahhh yes... "having" a white elephant is one thing; "feeding" it is another. That's a good topic for a blog actually! Feeding your white elephant. Now that you have this thing, what are you going to do with it?!? Jose Conseco had one solution: drop it, it doesn't make good business sense. Any other thoughts? --James Wirth

Jan 06, 2009 07:56 AM

Ed Kaminsky

Kaminsky Real Estate Group/Shorewood Realtors - Manhattan Beach, CA

For Conseco, finding the buyer who is willing to pick up on the feeding schedule is the key. ;) Hoping our new SportStar Relocation NLS that we are beta testing right now (more on that in a future blog release) will help Conseco's real estate agent get his elephant in front of the best buyers in the marketplace!

Jan 06, 2009 08:03 AM

Relo for sports superstars. What a great idea! With as much team trading as they do, that's a no-brainer!

Jan 06, 2009 08:06 AM

Jeannie Kontis

Lancaster, PA

Very interesting piece! I can imagine getting a bit winded when showing an 18,000 SF home. You really need to be in shape for that! LOL. Thanks for sharing.

Jan 06, 2009 08:16 AM

Oh yeah, that's a good point. I've never been in that big of a home, although I'm sure I'll be receiving a dinner invitation from Ed very soon :)

What do you do, have a few Segues waiting for guests to use? --James Wirth

Jan 06, 2009 08:23 AM

TIM MONCRIEF

Tim Monciref - Austin, TX

Over 2,000 homes sold…..

The link was not working from AR...had to cut and paste. Looked just like my home...only different. Maybe mine would be a white rat. Crap, I knew I should have taken up professional baseball instead of real estate.......

Jan 06, 2009 08:32 AM

Gerry Khatchikian

Red Lodge, MT

ASA, TRC, SFR

Ed,

Thank you for sharing the video. It sure is a very nice looking white elephant. I wonder how much it costs to feed it for a year and judging by its size, better wear some comfortable shoes for showings and plan for a water or champagne break after showing the first 9,000 SF of the 18,000 home.

Jan 06, 2009 08:44 AM

Oh, the 18000 sf home isn't mine. The shots of the Italian Villa styled one is mine. Mine is 10,000 sf smaller!

Jan 06, 2009 10:12 AM

James, you've gotta check out SportStarRelocation.com. There's opportunity for everyone on this blog to make money through SSR. PLEASE check back in a few weeks though, because we are launching a very exciting, groundbreaking enhancement that I'm sure you will find valuable!

Tim, thanks for the heads-up. I think the link is fixed now.

Jan 06, 2009 10:17 AM

Sharp site Ed, extremely sharp. I completed the vendor information even though you have a lending arm -- let me know if there's anything I can do at a local level. --James Wirth, 425-501-4749

Jan 06, 2009 11:35 AM

Spencer Hill

Hill Asset Management - Kingstree, SC

#1 Financial Planner -- South Carolina

Great piece for the current economic climate. I reblogged on my personal finance website and gave you credit. Thanks

Jan 06, 2009 11:13 PM

Thanks Spencer, I appreciate that!

Jan 07, 2009 05:15 AM

Tom Ferry

Tom Ferry-yourcoach - Newport Beach, CA

Great blog Ed!!!!

Hope all is well at the Beach!

Passion Rules!

www.yourcoach.com

Feb 02, 2009 04:20 AM

Paul Gapski

Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA

619-504-8999,#1 Resource SD Relo

wow saw the espn clip pretty cool. I have a few athletes and just wonder how do agents get paid i guess referral fees?

Jun 22, 2011 03:05 PM

Anonymous

The agents we work with our licensed to work with our clients and build their local business using our company branding. They get paid as normal agents do when they represent a buyer or seller , or they refer their clients through our corporate office to one of our licensed reps in every sport city.

Jun 22, 2011 03:12 PM

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White Elephants in Real Estate

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