Create A World Dominating Mobile #CRE Brokerage Using Zillow Auction.com Uber and Some Secret Sauce.
Can it be done?
Sure it can and here is how.
Start with a mobile environment and only a mobile environment.
Mobile is now the definition of technology.
Think: Tinder Yo Google Maps Twitter G-mail Instagram Google Search Pandora.
Pick up your phone and look at what you use about XX% of the time.
A Marketplace and Deal Making Platform.
Auction.com is just that. Do you need to understand it deeper?
They bring buyer and seller together and create a deal online.
And they get paid………like a broker or like……Amazon?
A Marketing Platform.
Consumer facing search. Consumer interaction
Online lead generation…for brokers.
In other words you pay them to do your job for you.
The Independent Contractor Platform.
Yes I drilled down on this one too.
Online experience between contractor and user like no other.
All mobile. Period.
Access to all building market and analytical data.
Streamlined process. Fancy word (frictionless.)
Offer a discount/rebate/incentive/flat fee/for both sides.
How about half of your nearest competitors fee structure?
It’s already the world standard.
Maybe there is more sauce out there.
Let’s have some fun.
Me you 5 brilliant start-up type people and adult beverages of your choice in a room for 4 hours.
What could we whiteboard?
What are the 10 things we need to do to disrupt the “incumbents” of commercial real estate?
1. Mobile only.
2. Create a mobile marketplace.
3. Set the standards of the deal.
4. Empower both the deal maker and user.
5. Provide all necessary data and analytics for FREE.
6. Create an online experience like no other before.
10………………….yea that’s what I was thinking too.
Think about it!
Now, what if you had $20 million in the bank from VC’s and you needed to show a business model that generated revenue TODAY!
What would your answers be then?
1. Clean clear search with brokers listings.
2. Create a dashboard that allows the brokers to use your platform to find clients.
3. Help define the marketplace with data from the brokers.
4. Try to be everything Zillow is now. Let the market place know you are their “tool box.”
5. Be a brokerage. Take a piece of every deal. Wait, not a “brokerage” a “market place” and take a piece of every deal. It’s called a revenue model…off the backs of brokers.
6. Call ourselves the “Google” of #CRE. No one really knows what that means anyway.
10……………..yea that’s what I was thinking too.
It’s happening now.
I can think of at least 10 cities with “companies ‘ using search to draw in users and offering “discounts” to rep them or list property.
What cities you say?
Look in your own back yard. They are there.
It’s a simple play.
They started out as search engines because they thought they could kick Loopnets ass in their market.
Then they realised that “hey we can make some money doing referrals” or even getting a piece of the deal for “facilitating” from our “market place advertising” platform.
Here’s a little secret. Some of them have some big $$$$ behind them.
Guess where some of that big $$$$ is coming from?
Does that and should that piss off the brokers? Probably.
Is that disintermediating the value of the broker? Probably.
Is that just getting a fucking check and paying the bills? Probably.
This is not going to work because?
It’s not going to get any traction (fancy word for users.)
Online discounted brokerage. It’s been tried. Ridiculous.
Clients don’t understand commercial real estate. It’s a different class of business.
Mobile is NOT commercial real estate.
Technology is Not commercial real estate.
Mobile and Technology is NOT a value add for commercial real estate.
But what if?
What if there was a demand for something like this? Like Uber Zillow and Auction.com
They created demand. Wait, maybe the market created the demand and they just filled it with a little bit of technology as leverage.
How about the buyers sellers and users of commercial real estate?
What if they started to use it? (Traction)
Who might want to “fund” this? (Private Equity)
How about the people who benefit the most?
You know the answer.
Who could pull this off? (Team)
Me? You? Smarter people than us? You and I are pretty smart.
Is there a team capable?
Who has the best team out there now?
Think I know? I could probably rank them and do a top 10.
Which of the top items on the white board could they really execute?
My take is this.
People a hell of a lot smarter than me are doing it right now with $$$$ and people.
I have met with them sat next to them ate and drank with them.
How about the biggest hitters in your market?
Are they going to sit idle and watch this happen?
Are they going to let this happen without getting “IN” or do you think they are going to let the #CRE world blow by them?
I have met with sat next to ate and drank with them too.
There is NO WAY they are going to let that happen.
There are literally trillions of dollars at stake.
Think how far we have come in just the last five years.
Use parts of Auction.com
Use parts of Zillow.com
Use parts of Uber.com
Put in some secret sauce.
Create a mobile product that cannot be attacked.
Create a user experience like no other.
Get a killer team…..or use the one you have now.
Go to the building owners. They will give you $$$$ and access to all the data you want.
Streamline the process.
Charge the world standard fee.
Create A World Dominating Mobile #CRE Brokerage.
+1 I get asked this all the time. “Why don’t you quit writing about this and just do it?
Maybe I am!
Or maybe somebody’s doing it for me!