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Mr 7000%

Discussion in 'Real Estate' started by Jacque, 5th Mar, 2007.

  1. Jacque

    Jacque Team InvestEd

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    Interesting article in the Feb BRW about Simon Baker, head of realestate.com and dubbed "Mr 7000%", due to the increase in share price since he took over as CEO in 2001: with the share price rising from 8c to $5.55 in Dec 06 over a 7 yr period.
    Even with new competitors coming on board or improving their sites (myhome.com.au Australian real estate property search and the aggressively marketed homehound) he remains confident that realestate will weather the competition and stay the first choice for both buyers and agents.

    18 mths ago the company also employed American Andy Sheats, a man with a talent for mergers and acquisitions, who has negotiated seven acquisitions since he's been on board. In the nine yrs previous to this, realestate had managed only one acquisition. These acquisitions have helped nearly double the company's revenue to a healthy $60mill - nice position indeed :)

    But it's Baker's attitude that I like. Sure, he is a workaholic who loves what he does and even admits that, "I am not addicted to my work; I am just in love with it". He claims to work just 12 hrs a day yet friend McGrath believes that 20 hrs is closer to the truth. But his philosophy is great, especially for someone who is doing what he loves. When asked to define it, he said:
    "How do you truly work out how far you can go?
    I would hate to die wondering".
     
  2. Redwing

    Redwing Well-Known Member

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    If the Real Estate Institute Of Australia starts its own site as they plan to do it will seriously give rea.com.au some competition in australia wont it ??
     
  3. Jacque

    Jacque Team InvestEd

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    Where did you hear this from, Red? I didn't know there were plans to have a nationally based industry search site. The only alliance I'm currently aware of that REI has is with the homehound site.
     
  4. Wayne

    Wayne Member

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    If you want to see how the real people behind the portals think, then you need to go read Peter Riccis BLOG at Business2 - Real Estate Agent News and Information Technology

    It clearly shows the arrogance of both the agents and the pettiness of the guys who run the portals. Simon Baker is a respondent there a lot of the time on behalf of REA.com.au He constantly touts the 3.7 Million numbers every month, but forgets that close to 400,000 of these would be agents looking for listings or other websites using site scraping technology to build up marketing lists...

    You really need to read some of Robert Simeons diatribes to see how arrogant an agency can really be. He loves telling everyone how he spends $1 Million of his clients money a year on wasted print.

    Its a very good read if you are into how agents think..
     
  5. Redwing

    Redwing Well-Known Member

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    I'll try and find the artickle for you Jacque..the newscame from REIA
     
  6. Wayne

    Wayne Member

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  7. Redwing

    Redwing Well-Known Member

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  8. Jacque

    Jacque Team InvestEd

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    Thanks for that link, Wayne- some more light reading in all my spare time :D