In our latest real estate tech entrepreneur interview, we’re speaking with the co-founders of Opcity, Ben Rubenstein and Michael Lam. They are based in Austin and recently raised $27 million in funding.
Without further ado…
What do you do?
Ben: I am the CEO of Opcity. My function is to set the company vision, culture and drive us forward. I spend a lot of my time strategizing and preparing for the future, interviewing and hiring top talent, and ensuing that we execute on our plan.
Michael: I wear two hats at Opcity. As CFO, I drive business planning, strategy, forecasting, controllership, and capital structure. It is my job to provide economic and strategic decision making frameworks for the business. As the Head of Analytics, I direct the usage of data and analytics throughout the business generally and specifically in our matching and dispatch technology. For each unique real estate consumer, we draw on millions of data points from dozens of data sets to make the best consumer-agent match possible.
What problem does your product/service solve?
Ben: Opcity’s technology platform identifies buyers and sellers in the growing haystack of online real estate inquiries and delivers them to top agents, through brokers, in real-time with no upfront cost. Using proprietary data and applied analytics, our unique technology and matching algorithm converts online inquiries into transactions, increasing the conversion rate by three to five times the industry average.
Michael: We are optimizing the consumer experience from the point of online inquiry to closed transaction. This means responding to consumer inquiries quickly and professionally, matching them to the right agent in real time, and providing tooling that helps drive the transaction to a close with as little friction as possible. By doing this, we are also providing the best experience for brokers and agents that want to participate in online marketing by providing qualified, high-fit referrals in real-time with no upfront costs.
What are you most excited about right now?
Ben: I am most excited about the massive opportunity in front of us and building a tremendous culture and team. We are amassing an all-star team of super smart, creative, hard working people. I am most excited about building something great with amazing people.
Michael: I am tremendously excited to see how impactful our process and technology is for consumers, brokers, and agents. It is very rewarding to drive a measurable impact and to do so with the passionate and talented team we have at Opcity. I am excited to grow this to more markets, brokers, and agents and to continue improving the product as we grow.
What’s next for you?
Ben: It’s time to scale! We have a model that works and customers love. Now it’s time to scale our team and client base significantly.
Michael: Two things: 1) scale – bring our platform national and continue to grow our world class team; and 2) continue to push the envelope on using analytics and new technologies to improve the consumer experience and drive higher close rates.
What’s a cause you’re passionate about and why?
Ben: Outside of building companies, I am passionate about the well-being of children, especially those who have been abused of neglected. I was the President of the Board of Directors of CASA of Travis County last year, and I am still a board member and active volunteer assigned to a fairly complicated case. Children involved in the CPS system need someone to stand up for them, and I am passionate about helping them find their permanent, loving, forever home.
Michael: STEM education. I am consistently amazed by the power of science and technology to solve problems and make our lives better. Having been involved in science and math tutoring and mentorship programs through the years and as a father to two young children, I see the power of cultivating these interest and passions early on.
Thanks to Ben and Michael for sharing their story. If you’d like to connect, find Ben here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).