Connect with us

Opinion Editorials

The questionable timing of Errol Samuelson’s departure from Move, Inc.

(Editorial) A key figure at Move, Inc. resigned without notice last week, leaving many wondering how his move to Zillow will have an impact on the real estate industry.

Published

on

goodbye

goodbye

The difficulty of quitting

In my life, I can count the number of times I’ve quit a job with no notice and a “shove it” note on one finger. I was accidentally included in an email from a boss who made a cruel comment about me. It was one in a long chain of abusive statements toward me and everyone else. I had worked enough 90 hour weeks for this man, so I printed out the email, circled his statement, wrote “ADIOS” in red Sharpie, handed it to him, and walked out that minute. I was immediately hired to be the Marketing Director at a real estate firm, and then began working here, so it all worked out for the best.

I have no regrets. If you’ve ever seen The Devil Wears Prada, you’ll understand my plight. He deserved it. But not all bosses deserve a nasty red sharpie note, but it happens regardless.

bar
When Errol Samuelson, former president of realtor.com and Chief Strategy Officer at Move, Inc. left to become Zillow’s Chief Industry Development Officer, it appeared to me to be a red Sharpie note to the ol’ boss, but instead of handing it to him personally, he called it in. I’ve been pondering the timing of the departure and what it means for the industry.

The timing of Samuelson quitting

We had known for some time that Move would be in an investor’s meeting all day on Wednesday, an event that everyone knows does not permit interruptions. Steve Berkowitz, CEO of Move, Inc. told us that while Samuelson was not expected to be in the day-long meeting, he was aware of it. Additionally, Berkowitz said that he had a standing appointment with Samuelson on Thursday in person to go over his 2013 objectives and review his 2014 goals. In other words, he quit the day before he had to meet with the boss to discuss his performance.

These two facts confirm to me that the timing was choreographed purposely. Was this designed to hurt Move’s chances with investors or hurt their stock? “That can’t be determined,” Berkowitz told us. He tells us that while in the investor meeting, he ignored a call from human resources, then the legal department, and realized something was afoot when his Chairman rang his cell phone – he stepped out, learned the news, and called Samuelson.

In less than a minute, Berkowitz says he congratulated Samuelson, asking only that they hold off on announcing the departure for 24 hours. Within the hour, Zillow published a well crafted press release on the subject. Berkowitz is keeping a positive outlook, noting that “business is business,” but quitting in this manner is nowhere on par with my red Sharpie note, and it seems to violate basic business ethics, particularly given the fact that every Move, Inc. strategy in Samuelson’s brain has gone to Zillow who one Move, Inc. insider opined is “known for their drama,” particularly with the timing of press releases, lawsuits, and the like.

A slight change in tone

Berkowitz’s statements have been extremely courteous so far, but we noticed a slight change in the tide when he asserted to us that Samuelson “was privvy to the strategy, but was not involved in the day to day operations. We won’t miss a beat at all.”

Although the feeling inside of Move, Inc. seems to be that Samuelson burnt a bridge, the overriding feeling is that it was completely unnecessary.

Berkowitz echoed a feeling we had here at AG, noting that Samuelson was one of the most outspoken critics of Realtor.com competitors, and to see that change overnight is like a Republican becoming Democrat with no explanation.

Moving forward, Berkowitz noted that their “direction is solid,” their “value is strong,” and that they will continue to live up to the promises they make. He opines that their current team is extremely strong, and that combined, they have more industry experience than any of their competitors. They have restructured Samuelson’s role, and recent promotions will take care of the company strategy, which Berkowitz notes he has always driven, no matter who reported to him.

“People’s actions define them.”

Berkowitz says that this departure has him concerned for the industry. “Remember this: people’s actions define them.”

One topic Berkowitz sidestepped was the reaction of the National Association of Realtors, simply leaving it at the fact that Samuelson was privvy to their strategies as well (which we can imagine they’re likely somewhat annoyed by).

My interactions with Samuelson have always been positive, so I was surprised at the choreography of this departure, and I do think that Zillow has one hell of an industry leader in their midst, but climbing the wall and kicking down the ladder behind him seems unnecessary, and although Berkowitz wouldn’t say it, I will – this feels designed to hurt Move, Inc. in favor of Zillow. From where I stand, it didn’t have to be that way, and it actually hurts Zillow’s relationship with NAR, informed brokers, and informed agents who butter their bread.

Continue Reading
Advertisement
4 Comments

4 Comments

  1. andreageller

    March 10, 2014 at 5:42 pm

    I think in this day and age there is no graceful way of going from one competitor to another for either party. As with all things it’s timing.

    • agbenn

      March 11, 2014 at 10:33 am

      In some ways I agree with you Andrea, but in this case when discussing two publicly traded organizations, timing is everything. The timing and rush are certainly questionable. Big businesses do this everyday, but the cloak and dagger style of leaving is suspect when you put it with a publicly announced investors meeting. The move was designed to at minimum embarrass Move, but even that failed because although he had a title, he wasn’t involved in execution according to the article, and Move.

      Funny thing about real estate, most R’s spend a lot of time avoiding these types of individuals, so the role he was hired for will only place more distrust on Zillow for the foreseeable future. I have good friends at Zillow, but the ethos is gone and seems it could be a top down problem.

  2. basic_business_ethics

    March 11, 2014 at 12:46 pm

    I agree that the timing seems to have been designed by Zillow to damage realtor.com, it is shocking to me that Errol went along with it.

    Getting poached is one thing, but giving zero notice and being announced as starting a job at a top competitor that same day is another.

    Samuelson should have resigned, and then later re-emerged at Zillow.

    Zillow and Errol may have just made the already treacherous waters of securing MLS feeds and favor with NAR even more turbulent.

    It may hurt realtor.com in the short term, but I doubt this is a long term win for Zillow.

  3. BawldGuy

    March 11, 2014 at 10:23 pm

    We all have a choice when it comes to how we unilaterally end any relationship. We can be a real man or woman, or we can be less. Grace is a choice if we’re the ones making the decision to leave any relationship. Class too is a choice. To believe otherwise is unfortunate.

Leave a Reply

Your email address will not be published. Required fields are marked *

Opinion Editorials

The truth about unemployment from someone who’s been through it

(EDITORIAL) Unemployment benefits aren’t what you thought they were. Here’s a first-hand experience and what you need to know.

Published

on

unemployment

Have I ever told you how I owed the government over two grand because of unemployment in 2019, and only just finished paying it back this year?

This isn’t exactly the forum for memoirs, but this is relevant to everyone. So I’ll tell y’all anyway.

It all started back in 2018 when I came into work early, microwaved my breakfast, poured coffee, and got pulled into a collaboration room to hear, “We love you and your work, April, but we’ve been bought out and you’re being laid off.”

It was kind of awkward carrying my stuff out to the car with that Jimmy Dean sandwich in my mouth.

More awkward still was the nine months of unemployment I went through afterwards. Between the fully clothed shower crying, the stream of job denial, catering to people who carried rocks in their nostrils at my part-time job (yes, ew, yes, really), and almost dying of no-health-insurance-itis, I learned a lot!

The bigger lesson though, came in the spring of the following year when I filed my taxes. I should back up for a moment and take the time to let those of you unfamiliar with unemployment in Texas in on a few things that aren’t common knowledge.

1: You’re only eligible if you were laid off. Not if you had quit. Not fired. Your former company can also choose to challenge your eligibility for benefits if they didn’t like your face on the way out. So the only way you’re 100% guaranteed to get paid in (what the state calls) “a timely manner”, is a completely amicable split.

2: Overpayments have to go back. Immediately. If there’s an error, like several thousand of Texans found out this week, the government needs that cash back before you can access any more. If you’re not watching your bank account to make sure you’re getting the exact same check each time and you have an overpayment, rest assured that mistake isn’t going to take long to correct. Unfortunately, if you spent that money unknowingly–thought you got an ‘in these uncertain times’ kinder and gentler adjustment and have 0 income, you have a problem. Tying into Coronavirus nonsense is point three!

3: There are no sick days. If ever you’re unable to work for any reason, be it a car accident, childbirth, horrible internal infection (see also no-health-insurance-itis), you are legally required to report it, and you will not be paid for any days you were incapacitated. Personally, my no-health-insurance-itis came with a bad fever and bedrest order that axed me out of my part time job AND killed my unemployment benefits for the week I spent getting my internal organs to like me again. But as it turned out, the payment denial came at the right time because–

4: Unemployment benefits are finite. Even if you choose to lie on your request forms about how hard you’re searching for work, coasting is ill-advised because once the number the state allots you runs out…it’s out. Don’t lie on your request forms, by the way. In my case, since I got cut from my part-time gig, I got a call from the Texas Workforce Commission about why my hours were short. I was able to point out where I’d reported my sickness to them and to my employer, so my unpaid week rolled over to a later request date. I continued to get paid right up until my hiring date which was also EXACTLY when my benefits ran out.

Unemployment isn’t a career, which is odd considering the fact that unemployment payments are qualified by the government as income.

Ergo, fact number five…

5: Your benefits? They’re taxed.

That’s right, you will be TAXED for not having a job.

The stereotype of the ‘lazy unemployment collector burdening society’ should be fading pretty quickly for the hitherto uninformed about now.

To bring it back to my story, I’d completely forgotten that when I filed for unemployment in the first place, I’d asked for my taxes NOT to be withheld from it–assuming that I wasn’t going to be searching for full time work for very long. I figured “Well, I’ll have a tax refund coming since I’ll get work again no problem, it’ll cancel out.”

Except, it was a problem. Because of the nine month situation.

I’d completely forgotten about it by the time I threw myself into my new job, but after doing my taxes, triple checking the laws and what I’d signed, it was clear. Somehow…despite being at my lowest point in life, I owed the highest amount in taxes, somewhere around the 2k mark.

Despite being based on a system that’s tied to how much income you were getting before, and all the frustrating “safeguards” put in place to keep payments as low and infrequent as possible, Uncle Sam still wants a bite out of the gas-station Hostess pie that is your unemployment check. And as I’m writing this, more and more people are finding that out.

I’d like to end this on a more positive note…so let’s say we’ve all been positively educated! That’s a net gain, surely.

Keep your heads up, and masked.

Continue Reading

Opinion Editorials

COVID-19 acts are unfortunately too short sighted

(BUSINESS NEWS) The biggest flaw in the CARES act is simply that it won’t last. Numerous issues have extended the life of COVID-19 but the act hasn’t matched it.

Published

on

rev pay issues act

The CARES act gives an additional $600 weekly to those on unemployment assistance. The idea being that, combined with the $380 already granted by unemployment, the payments would roughly equal the wage of the average worker prior to the pandemic- about $1,000 weekly.

But on July 31st, the expansion that CARES provides will expire, and benefits will return to pre-pandemic amounts. Those currently receiving the maximum payment will see a 61% decrease in their income. In states that offer lower benefit payments, that percentage goes even higher. All of this comes during a national rental crisis, and moratoriums on evictions across the country are also nearing their ends or being extended last minute.

This isn’t the first or only “yuge” hole in the federal government’s COVID-19 safety net. Many Americans (this writer included) have seen neither hide nor hair of their promised stimulus checks. The HEROES act, which is being billed as a second round of stimulus money, remains under debate- as it has been for several weeks.

And the Families First Coronavirus Response Act, which requires certain businesses to provide two weeks of paid leave to workers who may be sick (or caring for someone who is) has plenty of problems too, namely the laundry list of exceptions to it.

This is just the most recent push to return to the pre-virus economy before effective protective measures have been put in place for workers and consumers alike. After all, with cases of COVID-19 spiking again in the US, it’s apparent that the act is still absolutely necessary. Our lawmakers either lack patience, or compassion – take your pick. Frankly, I say it’s both.

Not only have countless health experts warned that reopening too early will be disastrous, but if a second lockdown is in our future, all of the time, money, and human lives that went into reopening will be wasted.

There is a silver lining among the storm clouds on the horizon. Because ballooning unemployment has created long wait times for benefit applicants, unemployment assistance programs are shelling out retroactive back payments to those deemed eligible.

Good news, at least, for laid off workers who have been waiting months to hear their fate.

Continue Reading

Opinion Editorials

Women-owned businesses make up 42% of all businesses – heck yeah!

(EDITORIAL) Women-owned businesses make a huge impact on the U.S economy. They make up 42% of all businesses, outpace the national growth rate by 50%, and hire billions of workers.

Published

on

women-owned business

Women entrepreneurs make history in the U.S as female-owned businesses represent 42% of all businesses, while continuing to increase at DOUBLE the national growth rate!

Women are running the world, and we are here for it! The 2019 American Express State of Women-Owned Businesses Report, states 13 million women are now self-employed entrepreneurs. From 2014 to 2019, women-owned businesses grew 21%. Think that’s impressive? Well, businesses owned by women of color grew 43% within the same timeframe, with a growth rate of 50%, and currently account for 50% of all women-owned businesses! Way to go! What this also means is that women employ over 2.4 million workers who together generate $422.5 billion in revenue.

What can we learn from these women that’ll help you achieve success in your businesses?

  1. Get informed: In a male-dominated business industry, women are often at a disadvantage and face multiple biases. So, know your stuff; study, research, and when you think you know it all…dig deeper!
  2. Stay hungry: Remember why you started this journey. Write down notes and reminders, goals, and inspirations, hang them up and keep them close.
  3. Ask for advice: Life is not meant to go through alone, so ask questions. Find a mentor and talk to people who have walked a similar path. Learning from them will only benefit your business.

Many of these women found ways to use their passion to drive their business. It may not be exactly what they thought it would be when they started out, but is it ever? Everyone has to start off small and rejection is part of the process. In fact, stories of rejection often serve as inspiration and encouragement to soon-to-be self starters.

Did you know J.K Rowling’s “Harry Potter” book was turned down TWELVE times? Seven books later with over 400 million copies sold, the Harry Potter brand is currently valued at over 15 billion. While you might not become a wizard-writing fantasy legend like J.K Rowling, you sure as heck can be successful. So go for it, and chase your dreams.

If you want to support women-owned businesses, start by scrolling through Facebook or doing some research to find women-owned businesses in your community. Then, support by buying or helping to promote their products. Small businesses, especially women-owned, black women-owned, and women of color-owned, are disproportionally affected by the current economic crisis ignited by a health pandemic. So if you can, shop small and support local. And remember, there’s a girl (or more) doing a happy dance when you checkout!

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!