EDITOR'S CORNER
Our latest videos from Realty Times Editor, Saul Klein:
Leads – 2005
Second Generation Listing Portals monetizing listing data via lead generation fees
Knowledge is Power
Alvin Toffler’s Three sources of power: Violence; Wealth; and Information
iBuyer; Sean Black
Today’s homeseller is competing with companies (Wall Street) who are buying properties with cash and fast closings
Homes as investments
Big companies buying up lots of houses and renting them out as investments; a new asset class; fewer sales, fewer commissions
New business models
Competing with Free; modern business models like Compass, eXp Realty, HomeSmart
New business model cont’d
“Modern Discount Brokers” – Redfin (employee vs independent contractor); REX; Referral companies HomeLight). What’s your compelling argument to differentiate yourself?
More engagements more often
Social media enables you to create more engagements more often, create new relationships quicker and re-establish old relationships very quickly.
Manifestations of Tech in Real Estate
Manifesting itself in rapid technological innovation, human engagement in a big way, generational differences, and new concepts of ownership
Paying for Data
At some point the data should pay for the collection of the data. Understand the value of the data.
List Hub – Spencer call 2010
2010 there were 2 companies that would collect and normalize the data and make it available to portals (ListHub and Point2); Realtor.com ended up owning both companies.
Liquidity
There’s been marketability but a lack of liquidity, takes long time to close. New business models facilitate liquidity in the acquisition and disposition of real estate.
Lions and Chihuahuas
The lion is coming over the hill and Realtors are like a bunch of Chihuahuas arguing over the bone (Billy Chee speech at launch of RIN).
Hard Sale! Selling Internet Ads in the Early Days of Internet
History of Real Estate Tech Review 1995-96
History of Real Estate Tech Review 1996-01
History of Real Estate Tech Review 2001-2009
Dynamic Yield Max
e-PRO program
Engagements
Evolution of Tech in Real Estate
Finding Saul and RealTown
Future By Design
Future Shock
Goldberg; Reach 1
Build Relationships – FARP
FARP - Steps in building relationships-- Engagements online should be Frequent; Anticipated, Relevant, and Personal
Change – Long Tail
Change is a constant in the real estate industry. Why is it different this time? Does Long Tail play a role?
Crusaders and WWW
The Internet Crusade's Getting Connected campaign back in the early days 1996-2001
Data and Dinosaurs
The value of data - information is the currency of the 21st century
Beginnings with Bob
The beginnings of the Realtor Information Network (RIN) – June 1995
Bill Gates Predictions About Real Estate
In his 1995 book “The Road Ahead” Bill Gates predicted that “the whole system of real estate agencies and commissions may be changed by the principals having direct access to so much information.”
Black Monday and the Divesting of Brokerages
On the verge of the greatest social and economic explosion the world has ever seen. Kiosks at first.
Broker Services
Traditional brokerage services make way for new business models and technologies
Before Franchise Brokerages c3
Historical changes in the real estate brokerage business.
Average Age Realtors
Average age of REALTORS is influenced by the development of relationships
Austin Association of REALTORS The Real Pioneers c3
The first appearance of listings on the world wide web
Ameritrade process
Someday the transfer of real property might be like trading stock online
Alex Rampell
Disruption in the real estate marketplace is impacted by institutional investors as predicted by Alex Rampell
Aggregiation of Financial Services c3
The aggregation of Financial Services in the real estate marketplace
1968 Naval Academy
The forces of change are already in play as illustrated by this Naval Academy example
Merri Jo Cowen, CEO, Stellar MLS
Realty Times Interviews Merri Jo Cowen, CEO, Stellar MLS
