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Tag Archives: innovation

Tag Archives: innovation

Real Estate and Skunk Works Departments

by Seth Siegler on 12:10 pm April 18, 2017

I’ve been working within the fast-paced, risk-loving, fail-fast worlds of four different real estate industry startups for the the last 10+ years. I founded them all but three were bootstrapped and one was VC-backed. And while two of them went nowhere and two others resulted in exits, in all four, there existed common themes and paradigms that allowed us to get a huge amount of work done with a tiny team and budget. That’s nothing super novel though – all startups benefit from this type … Read More »

The Journey From, and Back to, an Efficient Real Estate Transaction

by Drew Meyers on 10:41 pm July 2, 2015

You should all read Brian’s Friday Flash (on Thursday) post before the holiday weekend. It’s worth the read. I agree with Brian, I don’t think it can be said that today’s real estate process is more efficient. In fact, it’s less efficient and more complicated. The graphic 1000Watt put together is telling… Buyers and sellers used to need real estate professionals because there was no information available to them. Then the internet and online advertising came along and, suddenly, all the data is out there for … Read More »

Zestimate Forecast

by Drew Meyers on 2:14 pm May 9, 2014

Zillow’s newest innovation, the Zestimate Forecast, was announced yesterday… I’m a big big fan of the strategy. Is the data perfect? Nope. Are the forecasts accurate? Who knows. But that doesn’t matter at the end of the day. This is yet another innovation to win the consumer. And those who win consumer mindshare long term, will clean up business wise at the end of the day. Well done, Zillow.

(Lack of) Innovation from the Traditional Real Estate Franchise/Brokerage Ranks

by Drew Meyers on 10:56 am October 28, 2013

Sure, my post about real estate franchises getting into the travel concierge game is a bit absurd. But sometimes the absurd ideas are the best ones. I had quite a few offline discussions with people in the industry about the travel concierge idea, and it seems every single conversation came back to some iteration of “it could work, but no one has the balls to try it“. Why is it that no one in the broker/franchise ranks in this industry has the balls to take … Read More »

Once Again, It Is the Outsiders Innovating

by Drew Meyers on 5:45 pm September 30, 2011

Yup, it’s happened again. Outsiders have out innovated real estate industry insiders. This time it is Redfin’s Agent Scouting Report. Any agent’s entire sale history analyzed and overlaid out on a map. Brilliant. For an example, take a look at Kris Berg‘s scouting report. I picked Kris because I’ve known her for years and know (hope) she won’t get mad. Brian Boero at 1000Watt and Jay Thompson have already written about the announcement, and there are some great conversions in the comments — so I urge … Read More »

An Incubator Conundrum: Real Estate’s PIE and Innovation

by Drew Meyers on 5:44 am September 19, 2011

I think we all understand the importance of innovation as the lifeblood of the economy as a whole. It’s pretty simple equation — if businesses don’t innovate and improve, they get beat by others who do. But innovation doesn’t just “happen”. Far from it actually. It requires significant brain power & talent, financial capital, desire & passion, and CONNECTIONS. I 100% agree with Joel that the real estate vertical should be supporting innovative new businesses a heck of a lot more than the industry is … Read More »

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