Sign of the (Greenwich) Times

Today’s real estate section in Greenwich Time contains no ads by David Ogilvy. Not one. This may have happened before but in the 35 years he’s been in business, he always seemed to have several pages of his listings, all beautifully and expensively photographed. Long before I entered the real estate business I always admired the effort the man expende to establish his brand. If even he’s decided that it’s a waste of money advertising this week (admittedly, the week before Thanksgiving and a traditionally slow weekend), it says something, I fear, about the state of our market.

6 Comments

Filed under Buying/Selling Greenwich Real Estate, current market conditions

6 responses to “Sign of the (Greenwich) Times

  1. Hi, Chris,

    I think this says nothing about David other than that’s he’s a canny Scot – as you say, the holidays are here.

    However, I think it says reams about the local rag, aka Yellowwich Time. Until now, they have hung on by the skin of their teeth because of real estate advertising. They are no doubt hemorrhaging money right now, and if David’s canny thriftiness helps to put them out of business, well, I for one say it can’t be a day too soon.

    My bet is that Hearst will pull the plug on this loser paper – in all senses of the word – shortly after the New Year when much of Greenwich heads south for the winter and the housing market goes into hibernation. Any takers?

  2. Anonymous

    Wait, are you saying you admire the King of Overpricing?

  3. Susan

    Is another sign of the times David Ogilvy coming out to your home (a $2.6-3.2 home depending on the market) and then disappearing? I guess he has too many listings. A simple response that he was not interested in the listing would have sufficed.

  4. christopherfountain

    I do admire Mr. Ogilvy. I don’t always agree with his pricing strategy (ok, I almost never agree) but he has mastered the art of pricing to obtain a listing and keeping his clients over a long time until a buyer turns up. Those agents I know who try to imitate him often succeed with the first part but never with the second.

    And yes, Bill, I agree that not advertising this weekend indicates good business sense on his part – the whiff of financial trouble we smell is indeed coming from Greenwich Time.

  5. Anonymous

    I am surprised David didn’t advertise his house (36 Harbor Dr.) that he bought in 12/03 for 3.4 million and let it sit (I think) empty until now.- Just came on today for 4.9million. Of course it is not worthy of a photograph. But still, how does he explain the increase of value to the previous owners when they never put it on the open market?

  6. Anonymous

    Re: 36 Harbor Drive

    I believe David was called in to price the house for an estate and bought it himself. Hmmm, can we say “conflict of interest”.