The Lastest From The Geek Estate Blog
Congrats to long time reader Yale Fox, the CEO of RentLogic, for the writeup in Bloomberg. I totally believe there to be interest in dirty laundry being aired about apartments (units & buildings) a tenant is about to spend thousands of dollars a month to live in. That said, I’m not without concerns on the business side… Bloomberg picks up on my core question: The next challenge will be to find a business model that allows Rentlogic to wring a profit out of its system. The answer: … Read More »
Looks like brokerages/franchises are going down the instant offers path in order to help their agents win more listings (as I guessed). ERA is joining the mix (Inman coverage here) that includes Zillow, Redfin, Opendoor, Easyknock, and OfferPad (and others). PS: I found the following video from September of 2016, so this concept has been in the works for a long time.
You may have seen the news that Nextdoor is releasing a new feature allowing agents to advertise themselves and their properties on the Nextdoor website (Inman coverage). I think they’ll learn what we learned at Zillow early on: self serve for agents doesn’t really work. (maybe, 10 years later, that’s changed) What if Zillow Premiere Agent also included automatically featuring one’s listings on Nextdoor? One could argue Nextdoor would generate more revenue from agents IF they partnered with a company with an existing national sales team — … Read More »
Fifth Wall, a VC firm based in LA that has raised over $200M, is entering real estate accelerator game (see TechCrunch). The program’s goal: Fifth Wall’s Accelerator Program is a 12-month program designed to help early-stage companies: (1) get introduced to real estate companies and potential customers, (2) leverage our team’s & our strategic LPs real estate expertise, and (3) position our Accelerator companies to raise a VC round within 6-12 months. It’s obvious real estate / property tech is a massive, massive vertical — especially if … Read More »
I spent some time looking at TruePad, a real estate portal only available in Chicago (Inman coverage here). “Find the best valued homes”. I like it. Unlike the majority of approaches I see (aka search for home in city X), that actually seems like a differentiated value proposition buyers will care about. I’ve long been a fan of using agent data in portals; the challenge is incentives. How do you incentivize agents to provide the data? Additional exposure, leads, or forced data collection/insights via a Redfin-like brokerage … Read More »