Is Something Shaking at Point2 Agent?

54 Responses

1. Becky Troutt

   December 7th, 2007 at 10:44 am

   1

   Yes Jay, it does sound as if something is up. Guess we will just have to wait and see if anything comes about….

2. Jay-Z » Blog Archive » Is Something Shaking at Point2 Agent?

   December 7th, 2007 at 11:20 am

   2

   [...] Read the rest of this great post here [...]

3. Jay-z » Is Something Shaking at Point2 Agent?

   December 7th, 2007 at 11:31 am

   3

   [...] The Phoenix Real Estate Guy wrote an interesting post today on Is Something Shaking at Point2 Agent?Here’s a quick excerpt People find blog posts here on a regular basis when they search for terms related to “Point2 Agent”. That would be because I’ve made several posts about Point2 — my website provider. But something unusual began happening this week. On Tuesday, 4 people found this blog by searching “Brendan King Resigns“. Brendan is the Point2 COO. This search term leads to a post I wrote about the Point2 CEO resigning on Sept 20. Though it seemed quite odd, I brushed this off as people confusing the COO and [...]

4. Norm Fisher

   December 7th, 2007 at 12:03 pm

   4

   Hmmm. I haven’t heard anything yet but I do have a couple of P2 contacts I can call. Let you know if I hear of anything else.

   Regarding your update; tech is fairly big here employing about 7% of the population. This other discussion may or may not be related.

5. Charleston Real Estate Blog

   December 7th, 2007 at 12:11 pm

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   Interesting. Jay, get busy for me.

6. Jay - The Phoenix Real Estate Guy

   December 7th, 2007 at 12:17 pm

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   Thanks Norm! (And I didn’t mean to imply the fine citizens of Saskatoon aren’t technical. If it came across that way, I apologize. Just trying to say that it’s a relatively small place. I have no idea if that post is related, though the timing is interesting.)

7. Norm Fisher

   December 7th, 2007 at 12:20 pm

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   Lol. I didn’t mean to imply that there was an implication in your comment. Talk to you later.

8. Jay - The Phoenix Real Estate Guy

   December 7th, 2007 at 12:35 pm

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   Well, the comments to the post linked in the “update” are mow mentioning Point2 by name…

   “When you’re ready to have an intelligent conversation that will benefit point2 and the people still working here i’ll be happy to continue speaking with you.”

   The plot thickens…

9. Norm Fisher

   December 7th, 2007 at 12:46 pm

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   Jay,

   I would make a lousy reporter as I am too easily sworn to secrecy, but suffice to say that a reliable source has confirmed that you have indeed figured this one out and the post you reference is about Point2. Good job!

10. Jay - The Phoenix Real Estate Guy

    December 7th, 2007 at 1:27 pm

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    Thanks Norm, I understand sworn to secrecy and can respect that. Appreciate the follow up.

    If it’s an “exodus”, then it can’t really be swept under the rug. The way I figure, it’s probably only a matter of time before the full news gets spilled. I’m pondering calling Roger, but he’d likely reach through the phone and choke me for posting this. I like Roger, a lot. But if something has been going on since Tuesday, the first day I noticed something quirky, then they’ve had more than enough time to formulate a PR spin.

11. Norm Fisher

    December 7th, 2007 at 1:54 pm

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    No question that word will get around. I really don’t know much more about the “why” than what I read in that post. It appears that there is a fairly significant morale problem. I hope that they can get things figured out. Point 2 has been an amazing company and one which we have been proud of here in Saskatoon.

12. Jay - The Phoenix Real Estate Guy

    December 7th, 2007 at 2:34 pm

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    Well you know I’m a HUGE Point2 fan Norm. They’ve got a great product. I just hope the innovation they’ve consistently shown, and direction they are headed doesn’t change. They’ve done well from my perspective moving through rough times, hopefully this will be no different.

    But I am concerned.

    See Update #4 above. Wish I’d had the sense to save those comments to a file. Not that I’d post them here, but there were some very interesting things being discussed. I would have liked more time to absorb them. Pleading with the author to re-instate them!

13. Interested Party

    December 7th, 2007 at 2:44 pm

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    It seems that the “powers that be” have managed to reach out and silence the owner of Ideas20. Here are a few of the blog posts saved for just this occasion.

    To the current and former company folks who have posted and commented, thanks for enlightening me. It is nice to get facts, not fiction.

    A couple quotes that caught my eye from the original post and subsequent comments… {1} “Staff members were apparently upset with the way top execs were running the show” {2} “Keep Your Key Players Happy …don’t ever gamble with something you are not willing to lose” {3} “Don’t have a puppet board of directors” {4} “If people want change you have to stand up and make it happen” {5} “you can’t have a CFO that buys everything he needs to build a fence at Wal-Mart and then returns those things when he is done building his fence”

    {1} “Staff members were apparently upset with the way top execs were running the show”. In companies it is wise to look deeper than top execs too…the quote could read, “team members were apparently upset with the way class A shareholders were running the show”

    With that in mind, quote number {2} “Keep Your Key Players Happy…don’t ever gamble with something you are not willing to lose”. That could be scriptural it’s so true. For a moment imagine an eleven year old company with “key players” (many who have been active for nearly a decade) holding a trifling amount of company shares. It IS called gambling, and unless you’re David “Chip” Reese I wouldn’t mess with the odds because odds are that “key players” will walk. Some call shares ‘golden handcuffs’ - kinky! (It also could be called “How TO run a company”). After more than a decade not one of the key players had more than * 1.5% of company shares (most had well under *1%. For some “key players,” most, if not all, of their shares were purchased).

    While I am on the subject of share assignment, here are some other thoughts on how not to run a company. When nearly *70% of a company’s shares are held by 4 (of 5) founding Class A shareholders who are not active in the business (they don’t hold titles/positions and they do not contribute to company value); send up a flare. When 3 of 5 founders have NEVER been active in the business and after 11 years still hold over *50% of shares, send up the second flare. When 3 founders have recently been joined on the inactive shareholder roster by another Class A founder (sometimes inactive founders that were once active become active again after their one year sentence/ severance runs out), launch flares 3, 4, and 5. Prepare to launch the 6th flare when 2 of the 5 class A shareholders have not invested their own money in the company (they may tell you stories about their sweat equity though. They reckon it is more pungent than sweat work from “key players”). Then imagine this same company having “Key players” who have personally invested hundreds of thousands of dollars of their own money (see point 13 from Murray) and you might just want to reach for another box of flares. NOTE: Class A shareholders are founders and have always been the founders… access to the Class A group is untenable (elite Class As may even strong-arm a ‘non-founder’ Class A shareholder to the downgraded non-voting Class B shares. These are seen as the best fit for “key players”).

    {3}Murray said “Don’t have a puppet board of directors” and I’m glad she did but one should also be wary of a company where inactive founders show little willingness to part with shares. This is so true when keeping “key players” is important to ongoing company performance and success. Also, be wary of owners that make (or don’t make) critical business decisions because of religious beliefs. If you can believe it, it does happen.

    {4} YC said, “If people want change you have to stand up and make it happen” AGREE! It is so very unfortunate when departed members appear to have not “stood up to make it happen”… often monumental effort has gone on, albeit unseen.

    {5} “you can’t have a CFO that buys everything he needs to build a fence at Wal-Mart and then returns those things when he is done building his fence.” Nobody in a company should be missing an ethical/moral backbone; but especially not a company’s CFO. Then to find out that same person is also the Chairman of the Board and the company’s General Counsel. Was this blog’s topic “How not to run a company?”

    Lesson learned for me… Research founders (wouldn’t it be nice to know if they had deep dark secrets that were lurking and could creep up and …)

    This isn’t a disgruntled departed “key player,” quite the contrary, I’m still trying to decide whether to stay or go…I just happen to find this topic very insightful for the next company I work in (or start).

    NOTE: *Share percentages are estimated but are believed to be very close to actual percentages.

14. Interested Party

    December 7th, 2007 at 2:45 pm

    14

    And another good one:

    Great post Dale on “How not to run a company”. I recognize and acknowledge all the points you have made, well done. I am sure that the above flaws alone would be enough to eventually kill any company. However, it the case of your former company there were/are many more flaws. Here are some more rules to live by.

    Don’t underpay people just because you can. Or, pay people what they are worth regardless of their personal situation. It isn’t fair or right to underpay someone simply because you feel you can. “We don’t need to pay them more their family is here and they can’t move” or “their spouse has a great job” or they “believe in the vision”.

    Know what it means to hire great people. It’s not always easy to hire great people. Your former employer was very fortunate. It is unfortunate that they didn’t understand what it means to keep them. To keep great people you need to foster a great environment, provide great tools and treat them with great respect.

    Don’t over promise and under deliver . Owners must deliver on their promises to senior staff and execs. When promises are made by these people it is essential that they are kept. It is especially essential when they impact the teams ability to deliver on the vision. When too many promises are left un-kept it forces behavior (development, marketing ideas etc.) that appear crazy to observers from the outside looking in, or even to others within the company.

    Be willing to have a smaller piece of a bigger pie . What would you rather have? 100% owner ship of a local donut shop or 5% of Tim Hortons? N’uff said.

    Don’t have a puppet board of directors . A board of directors by definition is supposed to direct. A useful and effective board of directors is a sounding board for sanity. It can’t simply be two brothers and a best friend. They can’t be willing to overlook actions and indiscretions that materially affect the entire company. For instance, an effective board of directors would not allow the CEO to thwart investments and shun publicity because of a personal situation.

    Allow your leaders to lead. To effectively need you need to be empowered. You can’t have responsibility without authority. Leaders need authority and responsibility so they can make decisions for which they will be held accountable.

    Paint the whole picture. Or have a complete Vision. A great company wouldn’t force their leaders to only tell one half of the story. Dale to your fourth point, a clear sense of direction is especially hard to maintain if leaders are unable to share all of the pertinent information, especially if this information it is actually unknown to them or they do not believe that others will hold up their end of the bargain. Senior management can only take things on faith so long. Once burned twice shy.

    Don’t lie . It’s disrespectful. People are smart – especially great people. There a so many instances of this that it is ridiculous. For instance, as a leader you can’t say I am leaving because of a, b and c and I will do it time g when what you really mean is I will leave because of s, e and x and do it at time 0.

    Make sure your actions are congruent with your words . 10 years of all talk and no action tend to reduce the effectiveness of the talk.

    Have a moral compass. This one is insidious. On the face of it a company can appear moral and ethical. People can say (or not say as in the case of swearing) all the right things. But, you can’t have a CFO that buys everything he needs to build a fence at Wal-Mart and then returns those things when he is done building his fence, or buys a DVD player for the year end party and returns it after using it for the party. You also can’t reinstall software every three months.

    Remove the politics . When the only way to get the right thing done is to resort to politics it is a sign that something has gone horribly wrong.

    Lose the corner store mentality . This one is easy, but if you must have an example here it is; If your CEO spends days and months choosing a photo copier when he should be increasing shareholder value and promoting the company you may as well be working at a corner store.

    Put your money where your mouth is . How can it be okay to sell shares to the staff by striking a valuation and promoting said valuation as “low” or “an incredible deal” and tell staff that “we will buy back shares from anyone who doesn’t’ believe”, yet now, when the company is clearly worth more refuse to by back shares at the old “incredible deal”? Sorry, except it seems for the CFO who actually had shares re-purchased from the company.

    Treat EVERYONE with RESPECT. You can’t tell people they are “a dime a dozen” or that “every time they open their mouth they get stupider” too many times before everyone realizes that no one is respected. And by the way – respect is a two way street.

15. Carey Tufts

    December 7th, 2007 at 3:07 pm

    15

    Guys . . . Norm, Jay - you both have my contact information, give me a call, man!

    It’s been a crazy week for us, but I’m happy to candidly answer questions.

    You can’t call it an ‘exodus’ because I’m still here and I’m very easily swayed

16. Candy Lynn

    December 7th, 2007 at 3:24 pm

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    This all has me feeling nervous - don’t like my web world on shaky ground! P2A need to make statement to clients!

17. Florida Real Estate

    December 7th, 2007 at 4:30 pm

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    Good to hear from you Carey! Who all resigned from Point2 anyway?

18. Alex

    December 7th, 2007 at 4:36 pm

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    Hello! I’m a former employee of Point2.
    I worked there for a short while this year and loved working with the people I got to meet there.

    That being said, the management issues did seem a bit dense and that by and large created the reason why I left.

    P2 seemed to be bent on asserting how little an employee was worth to them. The notion was that pay is commensurate with achievement. In a company like Point2, they made sure that the only people who could achieve were their usual panel of heroes. It works out pretty good when you have a system set up where your respect for those heroes makes others pale in comparison. You never have to give raises!
    An impossible uphill battle of relative comparison, your dedication never goes rewarded.

    Of course, my presence was commensurate with Point2’s willingness to ensure I could afford to live and prosper in Saskatoon.

    While other companies in Saskatoon are catching onto the swelling economy there, Point2 was happy to stick with their heroes and grind through whoever they could sucker into working for them. Until of course they caught to the trick and left.
    Another good flare warning is when a company gets in the habit of hiring people with no intention to develop and bond with them, but with the intention to string them along with as little pay as possible.
    Thankfully I have a house now in another city and that was only after three months. I think that’s a very telltale fact in this situation - the employer is inextricably bound and inevitably defined by their employees. This more social way of thinking doesn’t come easily to many nowadays and it leads to these long time coming trainwrecks.

    There are some really talented and amazing people still with Point2 today who have been there for a while…If ever they come ’round your way looking for work - GRAB THEM AND HOLD ON.

19. Cathy Clark

    December 7th, 2007 at 5:35 pm

    19

    Wow.
    Not for nuthin’ but, having been a victim of gossip myself, I’ll be patient for the facts. I believe Jay has definitely picked up on something and hope for some more factual information from P2. Please no propaganda!
    Carey, you were the first person I thought of. Glad to hear your “voice”!

20. Dale

    December 7th, 2007 at 6:01 pm

    20

    In regards to my posting, my original goal was to help promote a positive change towards more open and rewarding environment that would benefit all employees. I also intended for the principles to be generic enough that they could benefit any company. When I noticed war was erupting in the comments, I decided it was best to temporarily disable commenting.

    Having worked for the company for several years, I know for a fact that Point2 is filled with incredibly sharp and talented people. That’s why I believe it is crucial that they maintain their ‘key players’, as I expressed in my posting.

    I did not intend to cause bad press or spread rumors for my former employer, but unfortunately sometimes when you talk, others may actually be listening…

21. Candice in AZ!

    December 7th, 2007 at 6:02 pm

    21

    Well as long as Carey’s still there I’m good . . .

    But I will be paying attention to this story as it unfolds.

22. Craig Barrett

    December 7th, 2007 at 6:05 pm

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    Jay this is certainly interesting…

    Point2 has a good product and I hope the leaving of some folks doesn’t have an adverse effect on service, hosting, etc…

    I do wish those that left the best of luck. I guess I should wish those that stayed the best of luck too…

    From what I know of them, they’re all a good group of people.

23. Francy

    December 7th, 2007 at 7:41 pm

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    I’m with Candice - Carey is a must have! I also need Jacquelyn, Jesse, Linda, and Lacey…. without them Point2 just wouldn’t be the same.

24. Jacquelyn

    December 8th, 2007 at 10:15 am

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    Francy! Jay! Cathy! - long time no talk!

    I’ll put my contact info next to Carey’s…if you have any questions, etc, we’re here to answer them, so please don’t hesitate to gie us a call.

    And heck, Jay, I think I still owe you a couple beers, so if you want to come down to good old S’toon - our door is always open (just make sure and bring a parka this time of year).

25. Jay - The Phoenix Real Estate Guy

    December 8th, 2007 at 11:20 am

    25

    “And heck, Jay, I think I still owe you a couple beers…”

    Just a couple?

    Thanks for stopping by Jacquelyn, Carey (and everyone else). I’m sure it’s been an interesting week at Point2! I have full confidence you folks will be just fine.

    I knew Brendan and Jeff and consider them friends (as well as a lot of others there and gone at Point2) and wish them well.

26. Rank and File

    December 8th, 2007 at 2:12 pm

    26

    I am a current employee at Point2 that probably wouldn’t be speaking up but ….. I received an “official” email this morning from an owner TELLING me that I couldn’t. Here is a piece of that email.

    “I’d like to remind everyone of Point2’s official position on media management. All communication with and through mass media that pertains to the corporate affairs of the Company is to be executed through designated staff. This includes responding to blogs directly or under a vague alias, and discussion matters with members of the media including news reporters and editor, and bloggers.”

    Now I can’t blog or comment on blogs? It went on to say that only Carey Tuffs, Linda Jame, Roger Noujeim or Jason Golding are able to talk or write in public places.

    I guess this means that Point2 feels they can control everything I do. I hope that this post will stay up. I am bit worried about the Phoenix Real Estate blog since Jay uses Point2 I think they might be able to force him to remove it.

    Sitting here essentially on the sidelines has been very interesting. Watching Barry scramble around terrified and Jason Golding wide eyed with ambition this past week has been a real eye opener. I wonder if they really believe what they are telling us? Can this really be a “small bump in the road”. Is it true that the people that left “don’t care about us anymore”?

    I don’t really know but in order to understand it better I started to pull it apart and look at the facts that I know.

    First the CEO, Wendell Willick is hauled off to Jail. Nothing really seems to change at Point2, in fact from my point of view things seem to be going along quite well except that some of the higher level people seem upset. We are told Barry will stay as president for an indefinite time. There are secret meetings that my fellow workers tell me are meaningless and empty.

    Then we have a mass of people leaving. From what I can tell about the list of those that left it is only the most senior people. Those that were here the longest. Here is the list that I know of:

    Ches Hagen 11 yrs – VP of Cat/Heavy Equipment
    Jason Collins 10 yrs - CTO
    Brendan King 9 yrs - COO
    John Fothergill 9 yrs – VP Product Development
    Jon Lesvesque 9 yrs – VP Systems and IT
    Jeff Tomlin 6 yrs – VP Business Development

    That is 54 yrs of experience. Wow. Nice “bump in the road”.

    The most senior people other than the owner Barry we have left are Greg Miller who runs our creative department – 3yrs, Linda Jame who was in creative and now runs our broker program – 5yrs our CFO Jason Golding – 5 yrs. There are some developers like Adnan and Chris Dagenais that have been here for like 8 and 6 yrs and many other developers that are around 5 yrs but that is it. Everyone knows that Brendan, John, Jason Collins and Jeff started built our real estate product into what it is today. How can Barry and Jason Golding tell us that this is a “bump in the road” and expect us to believe it?

    That is really all the facts that we as rank and file know for sure. There are a lot of things I can learn a lot from these blogs but I don’t really know for sure.

    How come the people that left are not telling us why they left? Please speak up guys. If we are going to stay here we really need to know. Are our jobs safe? Why did you leave? Are you going to compete with us? Do you still believe in what Point2 does?

    To Barry and the other shareholders. Please stop trying to twist everything. Level with us just this once. Who quit? Why did they quit? Why did Wendell lie about resigning for so long. Exactly how long did you know about what he did? Is he still being paid? Is he coming back? If so when and why? Is Jason Golding our new CEO or is it going to be Barry? Are we going to bring in a real CEO?

    When most of the people that have been here the longest have left it leaves a lot of holes and unanswered questions.

27. Cathy Clark

    December 8th, 2007 at 4:05 pm

    27

    Anyone who has worked in a traditional corporate world would not be surprised by anything happening here. It happens every day in companies everywhere. And guess what? NewsFlash: When a CEO or other executive resigns, for whatever reason, their resignation letter is not made public! Even if they are dissatisfied with the company, they don’t send out a press release or even talk about WHY. That would be very bad form personally, not to mention suicidal, professionally.
    And here’s something else, most monetary compensation is based on achievements. Yes, there’s a base pay in a traditional corporate environment based on minimum standards of performance. But raises and bonuses are based on accomplishments or exceeding established performance standards. Welcome to reality!
    Now I have no idea what P2 pays their rank and file, nor do I know what the cost of living is in Saskatoon. But I do know, from professional experience, that many college grads over the past 20 years expect to be driving BMW’s and buying that $500K house within 1 year of graduation. I also have experienced the same people who believe that, after 1 year of employment (sometimes less), they are as valuable to the company as the employee who has displayed superior job performance, dedication, loyalty and value for 10, 20, 30 years.
    While they may be good and have great potential, they still have to prove themselves. Get over it and deal with it.
    Here’s another alert: No one who resigned from P2 owes it’s employees or customers an explanation. Yes, we’re curious. But they don’t OWE it to us. They made a personal and professional decision based on their needs and wants. They were an integral part in starting P2 and making it what it is today. Doesn’t mean they have to be carried out of the corporate office at age 80, feet first with a morgue tag.
    Lastly, P2 still has many qualified individuals dedicated to the success of their customers, which translates into their own. Something else worth notiing: No one is indispensable and in hindsight, I have always found that “shake-ups” such as this benefit everyone.
    Stepping down from my soapbox now……

28. Gary Szolosi

    December 8th, 2007 at 4:17 pm

    28

    That was a lot of reading but very interesting. I am still trying to digest some of the comments and double meanings. It isn’t the first time I have seen something like this in a growing Company and I am sure won’t be the last.

    The stock situation is interesting but not that uncommon either. Two classes of stock, voting and non voting, however I am a little surprised that there is no formal buy/sell arrangement. Not sure of Canadian rules but there certainly should be some rules on the stock situation. But I probably am not understanding the writting correctly so I will leave that alone.

    It takes a very talented CEO to hold together great talent. If competition isn’t going after them, they are looking on their own to duplicate their accomplishments if not made part of the growth and shown a level of appreciation and acknowledgement. I hope things work out for Point2 since they have something going and it is basically a mile ahead of its competition. However, with good talent out in the market, so are the ideas and plans. This could muddy the water down the road. Time will tell!

29. Michaela - Mipeco Realty, Inc

    December 8th, 2007 at 5:05 pm

    29

    A lot of reading but I’m glad I stopped by here. While I don’t think it can be anything good with so many top management people leaving, it’s just a way business works. I just hope it will work out well for everyone!

30. Jay - The Phoenix Real Estate Guy

    December 8th, 2007 at 5:10 pm

    30

    Rank and File wrote: “I hope that this post will stay up. I am bit worried about the Phoenix Real Estate blog since Jay uses Point2 I think they might be able to force him to remove it.”

    The only thing that will make me take this down is a court order. And I’d fight that…

    Cathy - I agree that we aren’t “owed” a detailed explanation of why these people left Point2. But as paying customers, we do deserve to understand the vision and direction of the company whose products we buy. When the Chief Operating Officer, the Chief Technology Officer and 4 Vice Presidents leave at the same time, I think it is safe to assume that the leadership, vision, direction and focus of the company could fundamentally shift. Shouldn’t we be made more aware of what is happening in those regards?

    Gary - I know nothing of the stock situation either. The whole compensation issue is an internal Point2 affair. As a P2 consumer, of course I want the people there to be fairly compensated.

    I know for a fact that there are many incredibly talented people behind the scenes at Point2. But that’s a big chunk of experience and vision that just walked out the door. I’d be lying if I said I wasn’t concerned…

    Look for another post later reflecting my thoughts.

    Thanks to all who’ve participated in this discussion! This is a wonderful medium we have here for exchanging our thoughts, ideas and concerns.

31. John Wake

    December 8th, 2007 at 8:06 pm

    31

    I don’t even use Point2 and I love these posts.

    My favorite was when HouseValues.com had a layoff and reading all the dirt that came out in the comment section of a local newspaper article about it.

    So, what does Point2’s no compete clause look like?

    Ah forget it. Don’t compete with them.

    Come down to Arizona and become Realtors. After you get established (2-4 years) you’ll love the independence.

32. Athena

    December 9th, 2007 at 12:23 am

    32

    Hello. I’m also a current employee at Point2 and although I haven’t been with the company as long, I do have a few things to say. Thanks for your patience in advance.

    First. I’m sorry this is anonymous. I think we had about 7 ‘senior’ staff resign this week. From what I heard, all gave a long period of time to help with the transition and all of which are shareholders. A few were shown the door that day while the others I haven’t seen around all week. Their status, unknown. Does this strike you as odd? I mean, I’m told by my Manager that the first core value is to ‘Value the team above all else’. From speaking with my peers, these people were/are great outstanding Point2 citizens! Why the hostile treatment and mystery? Now I don’t have an MBA and I wish I could be as smart as our CFO but, at a time like this, shouldn’t our exec (there’s only two) be embracing the IP these people hold? Not to mention, allowing them to speak with those that have worked with them so closely over the last decade. Answer any questions, clear any misconceptions? Disruptive? Maybe, but hey, that’s the cost of doing business. Instead I work in an environment that feels like a Detroit City crime scene. Anyway, I don’t want to ramble on but my point is: If I ran a company, I’d KNOW what the risks are. People will leave right? I’m sure it’s frustrating that there’s no ‘official’ reason why each individual left but that doesn’t mean it’s not obvious, right exec people? If I hear in one more meeting “no one gave us a reason why they left and I don’t know…” or “This is just a small bump in the road”….I think you get the point.

    Personally, I find it bizarre that instead of Barry and co. working their butts off to keep ‘The Team’ together, most were shown the door and others mysteriously MIA. Now if this company does that to people who were a far more significant part of this family then I am (not to mention owners!), I don’t think I’d be shown much patience and understanding for writing this post. That should be a big, flaming red flag eh?

    Second. Like ‘Rank and File’ I get this obscure email yesterday (as above) and as I’m reading it my vision starts to blur and I start to get this funny sensation that I’m being part of some political cover up! This is crazy! I feel like someone’s trying to control my every move. Doesn’t seem right, does it?

    Third. I’ve been following this since Dale started his Blog. BTW, thanks Dale! That was very informative and sorry you felt the need to take it down. Anyway. Everyone keeps asking for those that resigned to provide their ‘reason’. As if they need to! I agree with you there Cathy. But, for those of you following this, have you not read any of the submissions above? Barry, have you? I think the reasons are pretty clear!

    On a final note. I’ve been doing my own leg work over the last few months. Gathering information in the interest of making an educated decision as to my future. Hey, before anyone lectures, I’ll be the first to admit that no work place is utopia. All have their issues, politics, challenges, trials, tribulations and what have you. I also don’t think this was a huge deal until everything, IMHO, started to be handled like a bunch of corner store amateurs (loved that metaphor, had to steal it). Sorry, I know that’s aggressive.

    Ok, here’s my list to add to how NOT to run a company!

    1) If you want your CFO to be a CEO candidate make sure he doesn’t have any skeletons in HIS closet. Interoffice relationships while you’re involved with someone else probably isn’t’ a good idea. Unless you think this is Melrose Place keep that thing locked up bud! We don’t need any more “crazyness” at the exec level.
    2) Don’t be ambiguous with your corporate message. Giving the CFO a 10% increase then announcing a spending/hiring freeze is a little confusing.
    3) STOP saying you’re going to be transparent and then NOT. I think my previous point illustrates that.
    4) If you’re going to boast great change surround yourself with excellence! Take charge! I know this looks like I’m focusing on one person, but there’s not many left!!! Let’s see, boy goes to school, boy starts to work at Point2, boy graduates, boy becomes legal counsel, CFO resigns, boy becomes new CFO AND legal counsel, boy starts making Mickey mouse changes like firing the plant lady to save money…and the list goes on.

    Call it women’s intuition but unless our new leaders make some serious changes (start by reading this blog) I think P2 is in a lot a trouble. Make no mistake, this is a corporate turnaround situation if I ever saw one.

33. Jay definitely uncovered some… « 4realz.net

    December 9th, 2007 at 2:24 am

    33

    [...] 9, 2007 by Dustin …interesting news about happensings at Point2.  I’ve always found Brendan to be one of the top-notch guys in the RE Tech world and he [...]

34. Cathy Clark

    December 9th, 2007 at 9:14 am

    34

    P2? Are you there? Are you listening?
    I mentioned in a previous comment that employees must demonstrate their value and commitment to the company over a span of time and achievement. That works both ways, you know. Companies have to earn the loyalty and dedication of their employees by creating a work environment that inspires the loyalty, dedication, ideas and achievement. It’s also a pretty good idea to have a system of reward and advancement.

35. John Rainville

    December 9th, 2007 at 11:06 am

    35

    Very intresting stuff indeed. It is odd that Point 2 did not step up and address everything right after the first posts appeared on the web. Even to just step up and confrim the changes and state that a statement will be issued on Monday. As we all know, the world since the advent of Blogs and Youtube tends to run at 110%. We’re always on.

    There is always flux in business, this seems to be a major departure over a major disagreement over operations and directon. Control of destiny, money are two “themes” I have seen running through the various threads on the “exodus”.

    Hopefully, Roger, Linda and the rest will be able to make a strong statement on Monday. I am sure the midnight oil has been burning this weekend to formulate a solid response—not one that may have to be altered in the near term.

    When I decided to jump on board the P2 bandwagon, it was not due to any of the people who left, it was the “product” and how good it was. Yes, I met some of the Point 2 people after I jumped on board, that was just “icing on the cake”.

    My personal thought is that P2 needs to jump into a stronger method of “growing” the network. Be that seminars, etc. like their competitors do now. I feel that many who are already P2 users do not understand the power of the engine that has been built. IMHO.

36. Point2, Part 2 at The Phoenix Real Estate Guy

    December 9th, 2007 at 7:07 pm

    36

    [...] morning’s post, Is Something Shaking at Point2 Agent?, has certainly generated a flurry of comments and traffic. Several comments were made from people [...]

37. Jerry Campbell

    December 9th, 2007 at 9:33 pm

    37

    Wow Jay - I just kind of stumbled into this post by first reading on RainCityGuide.com that Dustin Luther resigned from his job at Move.com and is now off to a consulting career. Then visited his new blog site at http://4realz.net/ and saw something that caught my eye about P2, which of course linked me to this very interesting discussion. Now about an hour later with a few interuptions during the read time….WOW!!! All I’m thinking about is that I’ve got a lot of time invested in several web sites with P2 and this is the last thing I need to deal with at this time.

    The funny thing is Jay…about the only safe web site I’ve got out there, is the one that no corporation going through re-alignment can effect…My Northwest Living Blog. That is unless GoDaddy went down…NOT!

    It goes with out saying…I’m very disapointed with this news. Iv’e been with Point2 since about Aug of 2003 and have seen a lot of changes in the past four years. I just hope they can get through all this and our sites are not somehow effected by all this. After reading all that above…I’m kind of at a loss of words on what to think.

    I wish everyone thats still working at P2 the best of luck, you certainly have a great product, and I’m certainly not jumping ship and running to another provider. Just keep working hard guys…sometimes thats the best thing to do. Have pride in what your doing, hold your heads up high, and keep moving forward.

38. Jay - The Phoenix Real Estate Guy

    December 9th, 2007 at 10:27 pm

    38

    So Jerry, what you’re saying is you don’t regularly read the Phoenix Real Estate Guy! You should get a feed reader…

39. Jerry Campbell

    December 9th, 2007 at 11:19 pm

    39

    Hey Jay - Guys got to make a living ya know…..lol Ever since Friday morning I feel like a high priced taxi driver. I showed clients properties all day Friday & Saturday. Wrote an offer Saturday nite and got it accepted this morning. Was working on some blog posts on my site and for what ever reason I hit the link to raincityguide.com and Bammmm…that started the me off in your direction. I read your blog big guy…and besides, your the number two blog that I’ve got listed under my real estate blog roll.

    Oh….and feed readers…hmmmmm. I did mention to you at one point that I’m a fulltime Realtor right? lol. If I started down that path Id be reading blogs all the time, instead of selling. If I want blog news…I just click on one of about 20-25 blogs I follow and that does the job for me. Ok…now I’ve got to read your new P2 thread. Jay…when do you ever get any sleep big guy?

40. Eric Blackwell

    December 10th, 2007 at 11:55 am

    40

    Jay;

    Thanks SO much for posting this. This is truly what blogging is all about–journalism. You’d think the rest of the real estate press would catch on…but no.

    I feel sorry for the folks at Point2. Especially for the ones who have been left behind…they are in the toughest position, judging from RankandFile’s post.

    I just voted for you for the doggie of the week award (people’s choice, actually0 for a great piece of blogging, my friend.

    Nice work.

    Eric

41. The Odysseus Medal: “Something is going on up in Saskatoon…” | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments

    December 10th, 2007 at 1:26 pm

    41

    [...] careful note: Jay Thompson has been all over the management crisis at Point2 Agent. Since Friday, he has been the nexus of communications [...]

42. Ed Cassady

    December 10th, 2007 at 2:58 pm

    42

    As always, Jay, your blog is getting out there. It only took a few steps to find this series. I have been with Point2 longer than it states and owe my web growth to your’s and the Rons positive comments about P2.

    I use to work for the #1 Dodge dealership in the world. The man who made it #1 left and the new management team {sons) changed the vision. They’re not number one anymore.

    Point2 has a good product and a staff that is easy to work with. I hope that this transition goes well.

43. Drew

    December 10th, 2007 at 3:01 pm

    43

    Hi Jay,

    Interesting upheavals in the realtors web world. AA has gone down the tubes, now maybe P2 is on it’s way. We moved over to Real Estate Webmasters and have never been happier with our top organic placement results. Now may be time for some to move on to more custom sites. Especially since REW is offering free set up for a couple of weeks!

    Jay,hope it works out for you as I know you are a huge P2 supporter.
    Drew

44. Charleston Real Estate Blog : The Odysseus Medals for December 10 have now been posted

    December 10th, 2007 at 3:38 pm

    44

    [...] speed information now travels. There is no sweeping anything under the rug any longer.Please read, Is Something Shaking at Point2 Agent?Click here to get links to Black Pearl winner, Brian Boero for Lets call it Zulia and all the other [...]

45. Bob Crain

    December 10th, 2007 at 4:47 pm

    45

    Jay,

    Thanks for bringing this to our attention. I still have a number of smaller p2a sites. While I almost never go over to their private forum… I can tell you I sure as hell will be taking a look over there, after I get out of the hot tub

    Bob

46. Exodus at Zillow? : Future of Real Estate Marketing

    December 12th, 2007 at 9:24 am

    46

    [...] Besides, this is nowhere near as bad as the giant clusterf**k that’s happening at Point2 (see Jay Thompson’s Is Something Shaking at Point2 Agent?). [...]

47. Point2 Agent Resignations | The Phoenix Real Estate Guy

    December 12th, 2007 at 5:54 pm

    47

    [...] the record though, the posts I’ve made recently regarding the executive resignations at Point2 Technologies were not [...]

48. Hopkinton MA Real Estate

    December 14th, 2007 at 1:49 pm

    48

    Jay - Great story. Glad I ran into this post as I have a Point2 website. Hopefully this shake up will not have too much impact on what is a very successful platform.

49. Greg Tracy

    December 14th, 2007 at 11:46 pm

    49

    I don’t like template websites at all, and I don’t care for companies that are built around them.

    I hope these guys all find something to do that they believe in. Maybe Point2 wasn’t something they believed in and it caused challenges for them.

    There are better options for agents than templates.

50. Point2 Agent Shaken Up- Good For Consumers and Agents « BlueRoof.com Blog

    December 14th, 2007 at 11:55 pm

    50

    [...] Point2 Agent is getting all shaken up and people are talking about it. I don’t wish bad on them at all, but I think this may a [...]

51. Jerry Campbell

    December 18th, 2007 at 11:22 am

    51

    Hey Jay - Well looks like Point2 has made a pretty good move in the right direction with the just released news that Saul Klein has been named the new CEO for P2.

    Read the news here:
    http://newsdesk.point2.com/blo.....ficer.aspx

    I was alerted to the news from a thread over at RealEstateWebmasters.com

52. Point2 Technologies Names Saul Klein CEO | The Phoenix Real Estate Guy

    December 18th, 2007 at 11:41 am

    52

    [...] quite a bit of turnover in the Point2 management ranks of late (much discussed on this very blog here, here, here and here.). I suspect Mr. Klein will bring much insight and vision, as well as needed [...]

53. Jay - The Phoenix Real Estate Guy

    December 18th, 2007 at 11:46 am

    53

    Jerry - I agree. I was writing a post here about it when you commented. Saul is very well regarded throughout the real estate community. Should lay a lot of concerns to rest…

54. VendAsta Drops a Little Hint: Social Network Leverage | The Phoenix Real Estate Guy

    January 22nd, 2008 at 7:54 pm

    54

    [...] the moment seven executives left Point2 Agent, speculation has been rife about what they may be up [...]