Last week, I dove deep on pocket listings and the strategic implications of the 2018 landscape I laid out. The key question is whether the strategy of using pocket listings to build a buyer audience that sticks around after the market turns prove fruitful for the brokerages and startups working on it? If you’re interested in the research that went into my article, you should read this blog post from last week.
Greg talked about the fact that most technos overlook is that the process isn’t as bad as they make it out to be in their board meetings or in the media. That drives practitioners nuts, but as long as investment dollars and media models depend on it, that’s not going to change. He then went on to explore whether the market for certainty is nearly infinite at this stage in the iBuyer game.
Weekly Radar Sample
REBATES WITH A TRANSFER TWIST
A brokerage, Houwzer, offers rebates to sellers. That’s nothing new. What caught my interest about their latest news is that the $2,500 rebate can be transferred to family and friends and doesn’t expire. Not because it’s revolutionary — “the money we owe you, yeah, you can give it to someone else if you want just like you can cash” — but because it alludes to other potential uses for rebates. Parents help their kids with the down payment on their first home; I can see this sort of arrangement helping their kids choose a specific agent/brokerage when they transact. First time buyers don’t have a ton of cash in the bank to start investing, but what if their broker put $5,000 into a real estate investment for them at closing, and managed that investment? All of a sudden, that could be the beginning of this “real estate broker as a wealth manager” trend I’m so excited about. How do you turn rebates into the start of a loyalty program? That your clients give a damn about. That’s something worth thinking about. -DM
BITS ARE THE NEW CAPITAL AND ATOMS ARE THE NEW LABOR
Operator turned investor Mike Maples had an interesting piece in Fortune about how his experiences as an entrepreneur and investor have led him to believe that software-defined networks will displace traditional corporations and bring innovation to our lives at exponential scale if we just get out of our own way.
“However, the global startup culture needs to grow up. We don’t need “disruptors,” “dis-intermediators,” “brogrammers,” robots that “eat” jobs, or technology that eats anything at all. We need people like Bill Hewlett, David Packard, and Bob Noyce. We need the next Andrew Carnegie and JP Morgan. We need to bring prosperity forward for more people more quickly and show how this is possible so people will be excited and not afraid.”
That quote alone is reason enough to go read it from the beginning. -GF
Mastermind Member News
- Congrats to Approved on their acquisition by Credit Karma. Greg Fischer served as an advisor + worked for the startup founded by Redfin alum.
As a reminder, the purpose of the Geek Estate Mastermind is two fold:
- Curate the world’s most innovative and diverse community of real estate creatives, doers, and pioneers.
- Make our members wildly successful in their careers building real estate companies.
If you want to read the entire newsletter, and future weekly editions, please apply for a Mastermind membership below.
The post Geek Estate Mastermind Newsletter #42 – Shifting the Balance of Power with Pocket Listings, & Techno Fools and Certainty for All appeared first on GeekEstate Blog.
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