Corrections

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This article by Barbara Fox was published in U.S. 1 Newspaper on

October 13, 1999. All rights reserved.

Between the Lines

Stories in this paper demonstrate both the great promise

and the even greater challenge of the Internet. At

http://www.princetoninfo.com/199910/91013f02.html you can

read the details of the demise of the National Business Employment

Weekly, the first major print newspaper unable to staunch the flow

of employment ads from print to cyberspace. This 20-year-old Dow Jones

publication will now let its website, http://www.careers.wsj.com ,

carry the freight.

Then at http://www.princetoninfo.com/199910/91013c01.html — as

part of our biannual residential real estate

issue — you can read about the many permutations of searching

for a house on the Internet. Here it appears the cyber-listings will

not be so quick to replace the existing structure of agents and

multiple

listing databases.

The Internet, it seems to us, works best where there is lots of

information

freely available. Employers have always been posting job openings

on everything from the lunchroom bulletin board to telephone poles

to print or virtual classified sections. In contrast, real estate

agents have always tried to limit information. Multiple listing

services

slapped copyright marks on their books, and agents guarded them like

gold. The advantage to having a real estate agent was that your agent

had the Key to the Book. Now some — but not all — of the

information

is on line.

What’s not on are the addresses. As Barbara Fox discovered, the

realtors’

websites must deal with the tension between making the information

freely available and protecting the privacy of those who are selling

their homes. Do sellers want their street address accessible to

everyone,

around the world?

Another problem with the Internet is the gap between the time a

listing

agreement is signed and the day when surfers can find it on

Realtor.com.

As Tod Peyton of Peyton Realty says, "The really good stuff may

come and go very fast." Not everyone will be satisfied with

listings

a week old. They may want an agent to keep them informed when a hot

property first gets listed.

At U.S. 1 we try to make as much relevant information accessible as

quickly as possible. But the world keeps moving. Even as we were

finishing

up last week’s cover story

http://www.princetoninfo.com/199910/91006c01.html on the Commons,

developed by SJP Properties

at 7 and 9 Roszel Road, the ownership of the Commons passed —

quietly, as planned — to Prudential, one of the major investors

in the project.

The day we distributed that paper, there came an announcement that

the company that built the Commons, the Bovis Group, had also been

also just sold. Lend Lease Corp., based in Australia, paid nearly

$500 million for the construction firm, which has an office at

Forrestal

Village. No changes are planned for the Princeton office, except for

a move to its next new building, at Alexander Road and Vaughn Drive.

Top Of Page
Corrections

SOME ZEROS went haywire in listings for College Park at Princeton

Forrestal Center. The building at 307 College Road has 20,000 square

feet available at $25.50 gross rent, plus tenant electric. Our

listings

said 2,000 feet. At 101 College Road, also for $25.50, there are

15,161

available feet: 9,000 on the first floor, 2,787 on the second floor,

and 3,394 feet on the third floor. Call 609-452-1300.


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