Identifying the problem you seek to solve is the first step to building a startup. In real estate, or any other industry. Often times, that “problem” or “pain point” is one you’ve experienced in your own life and you want to solve. If you are going to spend multiple years working on solving it, I sure as hell hope it’s a problem in your own life. Otherwise, you’re likely to give up before you succeed due to lack of caring.

The real estate transaction is a long and complicated, with a wide range of aspects to it. I guarantee you cannot solve the whole transaction in one go. Lead generation is a big space. I guarantee you can’t solve every agent’s lead generation problems in one go. The consumer research process is one that often takes place over years. Not days, weeks, or even months. Yup, you won’t solve that in one go either.

What tiny problem are you solving first? Is that even a pain point? If so, how many people have that same problem? How many hoops will they jump through to solve it? Will they pay to solve it? Is it only applicable in a specific niche? Specific to MLS executives? Managing brokerages? Agent team leaders? Is it a consumer pain point? If so, which type of consumer – 1st time buyers, relocation buyers, or vacation home buyers, or sellers?

That said, there is absolutely room to improve, revolutionize, and disrupt the real estate industry. There are pain points and opportunities available for the taking; helping consumers understand who to trust being the big one in my mind.

But you need to pick your poison. And choose your cure wisely.

PS: If you need help designing your cure (product), let us know.