The National Broker Public Portal?
Some of you may have seen this NBPP (National Broker Public Portal) proposal: http://thedataadvocate.com/wp-content/uploads/NBPP-Tech-Committee-Report-Saul-Klein.pdf
A few thoughts:
- This just sounds like rebuilding Zillow, 10 years late.
- How exactly will such a portal attract buyers away from zillow/trulia? What’s different/unique? Note Cyberhomes for an example of how that strategy has worked in the past.
- Once the 7.6-12.5 million is invested, what is going to be invested going forward to innovate/compete? Where is the money going to come from?
- Is there a defensible moat that would make this an interesting business? I don’t see one.
- Up to date listings is not enough by itself. Look no further than the downfall of Realtor.com for proof of that.
- Mobile strategy? Crickets.
- As I outlined, one potential strategy to take on Z/T is go recruit a team of industry all-stars to pull it off. If this initiative could somehow recruit everyone on that list, they would have a chance. Sadly, the chances of recruiting all those people? Zero.
- I’m not convinced any technology provider in the real estate industry can execute on this in a way that will succeed. Sure, they can build technology – but that doesn’t correlate to a great consumer product. See this for some prior related thoughts.
- What product visionary cares enough about this project to make it work?
- Why not just buy Estately?
There are products I feel could make a dent in Zillow’s dominance (see this and this). NBPP isn’t one of them.
And, with that, have a Happy New Year!
Sam DeBordPosted at 13:25h, 02 January
Lots of good points here, and I agree with most. You need to have a vision for something more than just listing accuracy.
It’s never too late to build the next great thing. It’s just not going to come from a protective or “let’s stop them” mindset. It has to come from a “let’s do something new and amazing” state of mind.That probably requires a digital media marketing team over a real estate industry-focused team.
Drew MeyersPosted at 16:51h, 02 January
I have a vision for what would work. But not enough motivation to go build/fund it. But someone can pay me a lot to help them do it 🙂
Sam DeBordPosted at 12:02h, 03 January
Count me in, just find us the investors.
Drew MeyersPosted at 12:07h, 03 January
Lol.. if only it were easy