Some of you may know that the Broker Public Portal recently hit its initial funding milestone. I just looked at the website again. The most prominent message on the page…
NATIONAL MLS CONSUMER FACING WEBSITE
I still don’t get the investment strategy. The web is 20 years old. Investing in a website NOW has an incredibly low likelihood of long term success due to the fact that we are long past the saturation point on the web. Buyers are not racing to find a new website to find properties, I can assure you of that.
I am betting Zillow/Trulia and Move/Realtor.com are happy that this initiative is taking place. Why? Because it means all those involved are exerting time and money into a technology initiative that is based on technology with its best years long behind it. In a recent interview, Fred Wilson mentioned he likes to get out in front of trends rather than invest into things that are already obvious (minute 36 of the video below)… the industry should follow his lead and look forward to the future, not to the past.
All that said, I wish the industry the best of luck on its endeavor.
[Photo via http://www.scientificamerican.com/]