The Lastest From The Geek Estate Blog
I read some posts recently on Entrepreneur.com and GeekEstate about disrupting the Real Estate Industry. Disrupting the industry is a polite way to say, we are getting rid of Real Estate agents. In my opinion, there is only one way to disrupt the Real Estate industry. That would be to prove to sellers that you will get more money to your bottom line selling without an agent. The complexity of the transaction and the liability can all easily be handled, but proving to a seller they … Read More »
The “Build it and they will come” mindset is of course completely false when it comes to software. Building a great software product that real estate agents and brokerages love, is really freaking hard. But that’s not the hardest part of building a real estate tech startup. Sales is. Once you have product market fit, it is still insanely expensive and time consuming to get distribution to customers within the real estate industry. It takes relationships with agents, brokerages, MLS executives, speakers, and consultants — all of … Read More »
There are always new startups popping up offering lower commissions and buyer rebates hoping that they’re going to be the next big thing in real estate. To date none of these new companies except Redfin have disrupted the industry at all. Personally, I believe it’s because people love working with people and don’t want technology taking that away on the biggest purchase/sale of their life. If a startup actually wants to disrupt the industry they have a lot to do Stop taking the same approach the … Read More »
Recently NAR announced that they had “won the rights” to offer .realtor as a top level domain. Today they have announced they have also garnered control of .realestate as an additional TLD service offering. They said that “business rules” and pricing of the domain would be available in Q2 2015. Over the past few years a slew new TLD’s have been provided to registrars, none have created the kind of “land rush” that was expected. You’ll certainly see the first half million .realtor domains go … Read More »
We tried our own forums as part of Geek Estate Pro several years ago — but they didn’t stick. We’re going to give them another go, but this time inside of Facebook as a closed group. If you would like to talk shop with other real estate technologists from the Geek Estate community, you can request access to the following FB group: https://www.facebook.com/groups/193179660721138/ Note: I need beta testers for Horizon’s new iOS app, which organizes any group or community by location. Once it’s ready, I’ll be … Read More »
Rupert Murdoch’s News Corp. is acquiring the operators of Realtor.Com, Move Inc. in a cash deal of $950 million. News corp. sees this acquisition as a “powerful pillar” of their portfolio. What are your thoughts? Is this a game changer?