Word: sealey
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...card, as it always does, to rebate half the fee it collects for referring business to brokers around the country. In this case, the rebate chopped the total commission on Getson's deal from 6% to 5.5%--an important chink in the Old Guard's armor, says Peter Sealey, a professor of technology and marketing at the University of California, Berkeley. "Slowly but surely, technology is coming into play in the real estate market," he says. "As it does, brokers will lose their stranglehold on the process. Commissions ultimately should be cut in half...
...largest financial transaction most Americans ever take part in. The nation's housing equity--home values minus mortgage debt--is worth more than $7 trillion and accounts for the largest slice of most individuals' net worth. Yet buying and selling remain "horrendously expensive and full of hidden traps," Sealey notes...
Yamila Sigler is wondering whether she enrolled in a Berlitz course instead of a sailing class. All morning on Miami's Biscayne Bay, in a 23-ft. keelboat called the Woolly Bully, instructor Dean Sealey has been drilling her and three other students on tacks (zigzag turns), nuns (channel-marking buoys) and cunninghams (sail-tightening lines). "English is not my first language," frets Sigler, 33, a civil engineer who came to the U.S. from Cuba a decade ago. And sailing jargon is certainly nothing she ever expected to learn. As the Woolly Bully heads home, Sealey tells Sigler...
...sailing was still seen as largely the domain of wealthy yachtsmen in blazers and ascots. But in the '90s, burgeoning incomes, improved technology, the popularity of cup races--and the growing standardization of certification rules--democratized the marinas. "It's not viewed as such a niche activity anymore," says Sealey. Fiberglass construction has vastly increased the fleet of boats available for classes and rentals, while innovations like the self-tacking jib (a front sail that adjusts itself to the wind) have made sailing more pleasant and easier to learn...
...OTHER TIME, THE announcement by Coca-Cola president Donald Keough of a worldwide campaign of 26 new commercials would have been cause for celebration in the advertising industry. Describing just such an occasion last week, a pumped-up Peter Sealey, Coke's director of global marketing, said, "It was a seminal moment, like the first sustainable nuclear reaction." Maybe so, but this time it was Madison Avenue that was feeling the heat. After relying on New York's respected McCann-Erickson advertising agency (est. 1992 billings: $6 billion) for nearly 40 years, Coca-Cola had taken the unprecedented step...