In October I wrote a post about the Jenman System [read it here] and in particular the man himself. Apart from a smattering of press in the past few years he seems to have faded into insignificance.
For a system that basically told us it was bad for vendors to advertise in newspapers and online and that the only ones to benefit were agencies themselves, it seems many have now distanced themselves from this mantra.
Most have now embraced the Internet and newspapers again and recently I saw one advertising listings in a newspaper guide. Now like the Old testament, we are not supposed to have taken all that was written literally, still the core beliefs are the same.
So why did it fail? Well for one he introduced the system where even blind freddy could sell properties and so potential buyers were cueing around the corner to get their hands on a anything that hit the market and agents were begging for listings.
As soon as the market cooled and turned to a buyers market, the vendors also left these agencies in droves. Where most city offices have 30+ listings, I researched 5 firms and found a total of 50 listings for sale between them, hardly a way to run a successful real estate company.
So now the majority are back marketing listings…….a good thing too I say!
So can anyone tell me what has happened to the ‘Whispering sledgehammer’? Or some other reasons why it failed?
PS: I just made that up!