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HouseCanary – A Big Attempt in the AVM (Data) Space

by Drew Meyers on 12:00 pm January 14, 2017

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I saw this morning that HouseCanary raised a $33 million Series A. There have been a number of AVM attempts over the past decade. When I look at HouseCanary’s home page, they are much more CoreLogic, Onboard Informatics, or Home Junction than they are Zillow. Which surprised me. Why raise $33 million for a B2B data sales business model? I don’t get it. I’m assuming there must be a much grander vision pitched to investors than is indicated on their website.

The Pitch, and an Example of Great Writing

by Drew Meyers on 10:00 am January 12, 2017

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Every entrepreneur has to pitch their business from time to time. Every real estate agent/broker has to pitch themselves from time to time (their business is themselves). Since you’re likely an entrepreneur or agent/broker reading this blog — there’s zero doubt you should read Marc Davison’s latest post, Pitch Perfect. In it, he references a Ron Popeil video filmed in 1956: Now, go read the post, and practice your pitch. PS 1: It’s posts like this which make it so obvious why I mentioned Marc in this list in 2010. PS … Read More »

Introducing Geek Estate Labs

by Drew Meyers on 10:00 am January 11, 2017

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I’ve never really run Geek Estate as a business, and never had any legal entity behind it. That changed a few months ago when I finally setup Geek Estate Labs LLC for my consulting work & to handle sponsors (contact Mike if you’re interested). Some of you may have seen the new tab for Geek Estate Labs. What do we do? From our about page: We’re interested in building amazing products, and helping great companies succeed. Our specialty are technology businesses spanning real estate, travel, and community. We want … Read More »

OpenDoor Analysis

by Drew Meyers on 11:00 am December 13, 2016

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For those curious to learn more about Opendoor (which just raised $210 million), there are two recent posts I’d recommend reading: Rob Hahn — Forest for the Trees: Opendoor Edition Ben Thompson — Opendoor: A Startup Worth Emulating Happy reading. And yes, I believe Opendoor is working on a hard problem.

Working on Hard Things

by Drew Meyers on 11:06 pm December 11, 2016

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I’m a big fan of Chamath Palihapitiya. Why? He’s incredibly smart, and doesn’t bullshit. Below is a recent discussion he had with Semil Shah (note I also shared a video of the two a year ago). If you watch/listen, you’ll quickly realize he’s a massive proponent of working on hard problems. He breaks companies into three buckets: Bits to atoms (Amazon, Tesla, Apple, etc) Sticky bits/marketplaces (Facebook, Slack, Salesforce, etc) Everything else There’s far too many entrepreneurs (and capital) focused on #3, and not nearly enough on … Read More »

OpenDoor Raises $210 Million

by Drew Meyers on 9:20 pm November 30, 2016

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$210 million for OpenDoor. Wow. From Forbes: Opendoor is betting that there are hundreds of thousands of Americans who value the certainty of a sale over getting the highest price. I’ve long thought that to be true (see my comment), and it’s one reason I believe something really big is going to happen with pocket / pre-market listings. What do you think they’re going to do with their newfound war chest of capital?

An Amazing Product Accomplishment — Keeping it Simple

by Drew Meyers on 3:27 pm November 10, 2016

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I’ve been evaluating Pipedrive, on Bryn’s recommendation. I logged in the other day for the first time, and was greeted at a uber clean interface. One simple pipeline. It’s clear the product is meant to do one thing — pipeline analysis — really, really well. Given the simplicity of the product, I figured the product was a year or two old (maybe less). I proceeded to look at Linkedin to see how long the company/product had been around. Turns out the company was founded in 2010 — … Read More »

Building a Real Estate Portal?

by Drew Meyers on 11:57 am October 17, 2016

I know international entrepreneurs are reading (I’ve met/spoken to a few of you), some of whom are working on real estate portals in various countries. A real estate portal is a fairly defined technology product, which includes: A home page with search Search results & filters Property details pages Location/place pages User accounts How many times has that been built? I’ll wager a guess, the answer is “far too many”. Transmitdata recently released a “portal in a box”. I know that’s a challenging proposition, since most teams seek to customize … Read More »

Another AVM Entrant: BuyerPrice

by Drew Meyers on 10:46 am October 14, 2016

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I’ve written about AVM’s before, here. Another one looks to have recently entered the market. Buyerprice.com. Aside from their chrome extension (which seems cool, but not defensible), I’m not sure what’s different about what they’re doing. I assume the algorithm is based on MLS data? How is this better than Redfin Estimates or Surefield’s Pricepoint? Anyone have any intel to share?

Partial Home Ownership, Equity, Down Payments — Thoughts on Point

by Drew Meyers on 3:32 pm September 14, 2016

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Real breakthrough innovations don’t come along very often, in any industry. Real estate is no exception. What gets me excited is when products / businesses enabling consumers to do something they can’t do today (rather than just recreate the same wheel that’s been created 10 or 20 times before). Point is certainly one such product / business that fits the bill for me. What exactly is it? Point is an alternative to traditional home equity loans and HELOCs. Point buys into a fraction of your property. There are … Read More »

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