Bloomberg Journalist Appreciates My Compliment

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From:	David Kaufman
To:	DAVID M LEVITT, BLOOMBERG/ NEWSROOM:
Subject:	Commercial Property Deal Drought Worst in 18 Years
Date:	09/15/2009 1:3:31

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David,

My compliments on a great article based in realism.

I did the first, last and most auctions for the RTC during their existence. You nailed it when you said… “…the lender in most instances doesn’t have the ability to take the charge to earnings and sell the property.”

David Kaufman, CCIM

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From: DAVID M LEVITT, BLOOMBERG/ NEWSROOM: [mailto:dlevitt@bloomberg.net]

Sent: Tuesday, September 15, 2009 8:50 AM
To: kaufman100@gmail.com
Subject: Re:Commercial Property Deal Drought Worst in 18 Years

Thanks. I'm glad it rang true to you, especially since I wasn't around for the last time. I was trying to see if we've ever quoted you before, but there are too many David Kaufmans in our system. You're not David W. Kaufman of Millersburg Ohio, right? We don't have you under your current or recent associations.

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From: David M. Kaufman

To: David M. Levitt

Sent: Wednesday, September 16, 2009 12:39 Zulu

David,

I was around then and your article rang very true. That’s why I wrote to you. You captured the essence. You nailed it.

If you click on my LinkedIn profile ( www.linkedin.com/in/davidmkaufman ) it will give you my complete background and also, you will find a link to my blog (and website) which has an expansive answer to a similar issue. I’ll paste it below for your convenience.

At one time, I was the national spokesperson for the CCIM designation ( www.ccim.com ). I have been interviewed all over the country by all major news sources at one time or another over the past 20 years. I’ll attached some samples.

I would very much like to give you my commentary when and if you are looking for some.

There are all kinds of misconceptions that I hear and would like to correct. It frustrates me when I hear some news people dragging out all the old saws that really do not apply but are ingrained in peoples’ minds. For example…location, location, location are not the most important things in real estate, it is actually location and timing.

Or how about… “It’s a buyers’ market”. There is no such thing as a buyers’ or sellers’ market. There is just the market and if you set your price to the market guess what, your shopping center, or what have you, sells! Even in these difficult times, any seller can create a so-called sellers’ market by dropping their asking price 50%. The buyers will line up and come out of the woodwork. But, the problem is that the first buyer in line will buy at that 50% price. The price never gets a chance to increase.

That’s why I do auctions of real estate. In the buyers’ minds at auction the price has been cut to zero and the lineup of buyers are ushered into a room where I can get them to compete against each other for my sellers’ property and they race right past that 50% discounted price to the revealed market value. I like to say, “Demand never sleeps.” And you can quote me on that!

One last thought, I looked for you on LinkedIn and did not find you. Unless I just missed you, it is imperative you not only get on it, but use it as the phenomenal source that it is (a network of 43,000,000 business and professional people worldwide). Buy LinkedIn for Dummies, it will blow your mind. Take a hard look at my profile and you will see about what I am talking.

David M. Kaufman, CCIM