Scott: I Love Internet Buyers

Residential vs. Commercial... I've often argued that there is no real synergy between residential real estate (house sales) and commercial real estate. But at the same time, I've argued strongly that the residential industry is years ahead of the commercial industry in the use of the Internet. This belief was reinforced when I listened to a terrific presentation by Lennox Scott, president of John L. Scott Real Estate, to a board of directors meeting of CBA, the Commercial Brokers Association in Seattle. CBA is one of the strongest regional groups of real estate professionals in the country; Tricia Deering is the Executive Director.

Scott's firm is the largest independent residential real estate company in the Northwest, with over 2,500 sales associates in more than 90 offices throughout Washington, Oregon and Idaho. It's a 100% commission house, meaning that agents pay a monthly fee for a desk and basic services. Scott is passionately committed to personal service AND the Internet. As he spoke, he really didn't differentiate between the two. The Internet is simply his company's best tool to build strong personal relationships.

Highlights of his talk. ... "Relationships count in the Internet world. ... I love Internet buyers; they take half the time to close a transaction. ... It's all about photos and sound. We display a picture of each agent next to his or her listing." Scott believes that there will be commission compression, although he has not seen evidence of it yet at his company. So his firm is offering ancillary services like transaction management, property transfer services (e.g., utility changes), and coordinating home services for life. ... Wow, these are great ideas for the forward-thinking commercial firm, too. What do your think? Send e-mail to me at ppike@pikenet.com.

--Peter