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Getting Paid For Your #CRE Data!

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Getting Paid For Your #CRE Data!

I know what you are thinking. “What craziness is he coming up with now?”

What if instead of paying to have access to #CRE data you actually got Paid For It?

Sounds too good to be true?

Not going to happen no matter what kind of technology BS it is supposedly backed with?

Just another ridiculous drunken idea that someone outside of commercial real estate thinks will work?

My answer: Let me show you how it will work.

Starting with FaceBook. It’s the kabillion dollar social technology darling of the world. (I do not have an account. I’m a fucking radical that way.) You login in every day and do what. STALK! Opps, wait you look at the latest pictures of your cute little nieces. You check to see what stupid bullshit idea your brother in law has come up with and is promoting the hell out of this week. You may post something up to your three or four hundred “friends.” What you are doing is sharing. Sharing content. Sharing your time and eyeballs. Yea, I know it’s the sharing economy thing. I haven’t checked FaceBooks stock lately and I probably should. Just for fun, I looked up their market cap. It’s $362 Billion. -MarketWatch

So it’s pretty obvious that FaceBook has figured out a way to get people to provide content and data to them for free and monetize it. $362 Billion dollars worth.

I hear you already. Not going to scale. Not enough people to make it work. Won’t get traction with the right people.

I’m going to lay this out for you in a simple way and then just leave it there.

You log in to your account.

You look and see what (real market data) updates you have asked for. You also have these updates sent to your phone. It’s called notification.

You look at your geographical market and make an inquiry to track a specific piece of property.

You have a new property to place on the market. You click on a digital property record. You click on the add listing button. All information is automatically updated which is attached to your digital identity and tied specifically to the platform.

It instantly sends that information to a designated database and shows you who is most likely interested in this property. You will be automatically notified of other inquiries once they have been qualified by the platform.

You look at your profile see just how much X is in your account.

It’s looks like it’s a pretty big number. You check your ranking and see you are in the top 20% of all users.

This has been a strong month for you and your firm. Lots of activity. Phone ringing. Deals are happening. Positive vibe in the office.

You think about what you should do with all that X you have created on the platform. Do you want to use it to get more access? Do you want to see more comps? Do you need to compare your market to your competitors? Lots of business coming in from a couple of markets you need to keep your eye on.

Maybe you will just cash some of it in and use that money to pay some association fees. There is that charity golf outing in a month or so. Need to get that paid for.

How in the hell did they do it back in the day? Just give all this valuable information and data away. All you do is your job and get credit for everything you contribute to the platform. They even allow you to turn it into real money. Not exactly a revenue source but not some bullshit outgoing cost you have no control over. And the deals are pretty stout. All the hitters use the platform. Smart money is chasing smart money.

NOW!

There are elements of this working today.

It’s going to seem a bit out there at first.

But, you can and will gain trust in the way it works. You have already seen it.

Yes, there are questions but most of them have been answered.

I purposely left most of the details out.

Does that stuff matter to you at this point?

Let’s be honest.

There is only one thing you care about.

And that’s…

Getting Paid For Your #CRE Data!

 

 

+1 Trust Me.

 

 

 

 

 

 

 

 

 

 

 

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  • Duke I have been saying this for years. Would be so easy to do with existing technology. Like you stated even without direct compensation you would gain credibility and business as a market leader the more you contribute. Thanks for putting the idea out there.

  • ScottM

    This is the Loopnet model with newer technology, and all the same flaws. Hint, brokers don’t own the listing, won’t maintain it, why should they get paid for it? They provide other value fo which they get compensated.
    In the future, I’m not sure when as I cannot predict the adoption curve, it will be free to list and free to search. The Deathstars and X’s of the world will have to provide value in the form of marketing products, comps, derived stats and analytics. The technology gap is very small right now, just not a lot of people seeing it though the trees

  • Yes and Gene Fritz is already doing this for comparables with AdexPro. Gene let’s the owner of the data sell their own data via his platform. They are a valued marketplace partner at theBrokerList! http://thebrokerlist.com/business/adexpro-4490 Check it out. Good post Duke. http://adexpro.com/

  • Nadina Cole-Potter

    Re AdexPro — In regard to Maricopa County, Arizona — shelves are empty. 4 Sale reports from 2011; no lease reports. I can get the sale price and financing (and re-financing), if any, from my PropertyKey subscription. On sales/financing and re-financing data (as well as Notices of Trustee Sale – foreclosures), PropertyKey is up to date within 48 (weekday) hours of recordation. AdexPro appears to be a subsidiary of CoreLogic — whose Maricopa County property data supplied to a major data source that shall remain nameless is yearly — if that. No source available industry-wide so far has accurate lease data — term of lease, landlord concessions, landlord contribution to TIs, actual starting base lease rate, effective lease rate, Gross/FS/NNN/CAMs. None.