Michael "Mike" T. Malkasian is president of FSBO.com, a for-sale-by-owner real estate search site.
He will speak during Bloggers Connect at Real Estate Connect in San Francisco, July 23-25, 2008.
Malkasian answered a set of questions posed by Inman News:
What do you see happening in the real estate market in 2008?
With more than 25 percent of the current real estate inventory being owned by the bank, I believe the real estate market will remain slow until the banks ease up on their credit requirements for purchasing a home.
What advice do you have to help real estate agents and brokers get through this market?
As in any industry facing a down market, I would suggest lowering fees to make it easier for buyers to afford a new home and make up the difference in volume.
What was your first job?
Selling Christmas trees at a tree lot around Christmas time in South Florida. I did that for six seasons in a row from high school into college.
What made you join your current company?
I started two Web sites during my first two years in college. When I found out my father had bought the name FSBO.com, I was immediately intrigued and started to get involved in the business right away.
What’s been your biggest challenge in running the business?
Keeping up with and adjusting to new customer needs and changes in technology within the real estate industry.
If you had one thing to do over again in your life, what would it be?
I would have focused more on my athletic career when I was younger.
What style of home do you live in and when did you buy it?
I purchased a luxury high-rise condo in Midtown Atlanta on Peachtree Street in July 2006.
What worries keep you awake at night?
None.
What lesson did you learn in the last year?
Rebranding and redesigning a Web site from scratch is a long and stressful process.
What would your second career choice be?
World-traveling philanthropist/founding a nonprofit that benefits children in some way.
What kind of music do you listen to?
All types including country, now that I have lived in Georgia for more than five years.
Who is your hero?
My current hero would be the 8-year-old boy who I mentor through Hero for Children. He is the youngest of four siblings living in poverty in East Point Atlanta, and whose mother is HIV-positive. The program is similar to Big Brother/Big Sister but specifically for families who are affected by HIV/AIDS. He is always smiling and always eager to see me. I hang out with him once per week and I plan on knowing him for a very long time.
Hear Malkasian speak at Real Estate Connect in San Francisco, July 23-25, 2008. The conference program and registration are available online via the Connect Web site.
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