Radio Header

Get Adobe Flash player

"Build Your Worldwide C&I Business on the Internet"


Attend This Session

Gary Nusca Photo
6/7/02 Interview with Gary Nusca

ICIWorld.net
2 Bloor Street W., Suite 100-A
Toronto, ON M4W 3E2
Biography

Print Print this handout

Use of Technology in Canada

  1. A recent global study shows that Canada is tops in the world in online services as measured by delivery of information and services to its citizens via the Internet.
  2. Another study finds that Canadians prefer speedy Internet connection; 48% of users in Canada use high-speed hook-ups.
  3. Part of the reason that Canada is ahead of the US in these respects may be a more spread-out population and a colder climate.
The Genesis of ICIWorld

  1. The company started out of the Central Canadian chapter of CCIMs from "Have" and "Want" marketing sessions; the chapter started to put the information on computer in 1990 with access through dial-up accounts.
  2. The information tended to be stagnant, everybody already knew what everybody else had; therefore, the list was opened first to the local city, then the province, then the entire country and then the world.
  3. In January 1995, the company was one of the first to go onto the Internet; ICIWorld has continued to develop services for the industry as Internet use has grown
Differences with Real Estate Board Listing Services

  1. Services such as Loopnet and CoStar are focused on being a comprehensive (global) source of real estate board listings; ICIWorld's approach focuses on a broad view of the business opportunities available to agents.
  2. Commercial and residential real estate agents typically have only about one to five listings of their own on a real estate board at any given time; however, they tend to know about ten listing opportunities that they could work if they chose, plus they typically are working with about five buyers at a given time.
  3. The total opportunities to make money available to agents, therefore, numbers around fifteen, not just their five listings on a real estate board.
  4. The ICIWorld model works that broader information through the marketplace.
ICIWorld Services

  1. Society members can try the service for three months on a free trial basis; annual cost is US$240 plus a one-time sign-up fee of US$79.
  2. Members are allowed to place unlimited haves and wants without having to sign an agreement; everything is covered except single-family homes, e.g., four-plexes and up, shopping centers, apartment buildings, office buildings, industrial buildings, recreational properties, farms, etc.
  3. Several hundred realtors subscribe to the service, you must be licensed to join; per month, the site gets about 400,000 hits from about 15,000 unique visitors; listings number about 10,000 in two databases.
  4. The database where agents place their information is public, i.e., the public and principals can read it and make contact directly with the agents.
  5. The other, free database will accept postings from anyone in the world (private, for-sale-by-owner properties) and the public is allowed a limited view; however, only member agents can read the contact information.
Working with Open Listings

  1. ICIWorld makes it possible to work open listings that cannot be worked through traditional real estate boards and board-type listing services.
  2. Before listing an open property, an agent must: 1) determine that the owner will pay a commission, 2) get the owner to cover the agent's showing with a 48-hour exclusive listing; and 3) get the owner's permission to post the property on ICIWorld.
  3. ICIWorld listings are posted without the addresses to prevent people from going directly to the property owners; calls out of the marketplace go to the agent so that the agent can properly qualify them before processing.
Competing with the Free Services

  1. Two factors that make ICIWorld competitive with major free services like Loopnet are the freedom from having to sign a written agreement to list properties and the opportunity to work open-listing information.
  2. ICIWorld also provides training to members, in their own offices by phone; trainers walk members through ten important concepts as they sit in front of their own computer; the concepts are key to actually doing deals and can be applied to other services.
Unique Listservers

  1. When entries are made in ICIWorld databases, the information is automatically distributed to various listservers; ICIWorld has the technology to program email listservers to sort for multiple factors.
  2. This advanced customization of the listservers means that recipients get pre-filtered information that truly interests them.
  3. A person placing "wants" on ICIWorld can select multiple parameters for desirable properties all in one message and have the request distributed to all the appropriate listservices.
  4. ICIWorld continues to design and build servers for different categories of individuals and groups (chapters and boards can have listservers).
FavoriteWeb Sites: The Canadian Perspective

  1. Major company sites are good sources of market reports: Colliers, CB Richard Ellis, Royal LePage.
  2. Panicware.com is a good service for stopping pop-up ads; the Bank of Canada site lists unclaimed bank balances in Canada.
  3. CCIM.com is great for commercial professionals; business forms are available to the public as Excel files on that site.
  4. Munisource.org is a link to local economic development agencies throughout the world.
Where Things Are Going

  1. The next phase of the technology revolution will see people using the Internet more readily and more thoroughly; real estate professionals who get plugged in early will stand to benefit the most.
Contact Information for Gary Nusca:

(v) 416-777-2633
(f) 416-214-4763
(e) garynusca@iciworld.net
(w)www.iciworld.net


Real Estate Sites & Tools in this Briefing:

ICIWorld.net
CoStar Group
Loopnet
Colliers
CB Richard Ellis
Royal LePage
Panicware
Unclaimed Canadian bank balances
CCIM.com
Munisource.org