Where Real Estate Gets Its Dirt

Saul Klein – CEO of Point2


Troy first tipped us off about this a couple few of days ago.

Saul is a great guy and has had a lot of keen insights towards the industry. I know a lot of people will be rooting for him in his new postion.

But does he realize today in Saskatoon it’s mostly cloudy and 10 degrees? 10 degrees Saul, 10!

Saul Klein To Head Point2 Technologies
by Blanche Evans

Technology allows Saul Klein to run Internet Crusade while on the road three weeks a month. Now it can help him run Point2 Technologies as well.

Point2 first got on residential real estate’s radar with free websites for agents and free uploads to the site’s “NLS,” a national MLS-type search feature for consumers.

But free isn’t a compelling business model, even though the company boasts 165,000 subscribers to free services from over 85 countries. So the five investors at Point2 cleaned house of about 10 percent of its workforce, including upper management, and is starting over with a veteran of the real estate industry at the helm.

What’s not known is how many agents are paying Point2 for upgrades to their free websites. Klein guesses about 80 percent, but if the company were really doing that well, it would be outperforming Realtor.com, the undisputed king of the free-to-upgrade agent/broker lead generation business model.

That aside, Klein says Internet Crusade and Point2 Technologies have enjoyed a strategic partnership for over a year. “We know them,” he says, and he’s very comfortable with the company’s prospects.

Point2 got its start with Caterpillar providing the company with a means for equipment owners to post their heavy machinery for sale online. The model was scalable to real estate, but right now the field is crowded with “free” listing uploads.

How Klein plans to make a difference, he says, is:

people – staff is most valuable resource and of course, customers

customer service

revenue – finding opportunities within the company for creating packages and new revenue streams

alliances – within the industry of brokers, other companies
Klein says he will reduce his road schedule for 2008 and divide his time between Saskatoon, San Diego and his speaking engagements. He starts the first of January.

  1. I’d just like to make one correction to the reporting here:

    “So the five investors at Point2 cleaned house of about 10 percent of its workforce, including upper management, …”

    The ownership did not clean house. Nine of the top company executives resigned at the beginning of the month.

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