And Why Not?
This all started back in August 2011 when I posted 3 articles.
Scroll over each one and click.
The purpose of the articles was to point out what I thought we did not have.
To sum up I defined three areas that I thought could be exploited beyond the basis of what we already had established.
1. Customer Service.
3. Community Building.
My idea was that if these three simple things were applied to a data driven open platform that they could take over the commercial real estate world.
So, what has happened since?
Answer: Nada Zilch Zero Naught.
IT”S MY FAULT.
There, I said it.
I take the blame….for doing nothing.
I had delusions of grandeur. ( Look it up.)
I thought that some company somewhere with some big money would see the simple possibility of this idea as a clear way to BIG $$$$!
Again…delusions of grandeur.
What do we still have instead?
A billboard model.
A pay for free data model.
A “researched” model.
A residential/add-on commercial model.
A self-serving/inward facing platform model.
ALL of which do what?
1. Charge Brokers.
2. Create no real additional value for data.
3. Rely on brokers to input and give away data.
4. Define standards and practices that are irrelevant.
5. NEVER face the client/consumer/user.
So, where do we go from here?
Is there hope?
How about the ever-growing start-up #CRE #TECH scene?
A quick check on Angel.co Commercial Real Estate Start-Ups.
There are now 442 companies registered under commercial real estate start-ups.
There are 24,746 people who have identified themselves as investors in #CRE #TECH
So, what are the odds? The odds of success? All the companies must fail?
And all of those smart savvy investors have no idea what they are doing and will lose every penny they have invested.
Right? Nobody has a chance!
But just maybe.
Maybe one or two or three or ten companies make it.
Who is it going to be?
And more importantly why and how do they make it?
No one knows. You don’t know. I don’t ( maybe ) know.
Who will be the next Twitter, Google, AirBnb. Or Uber for #CRE?
It has to happen does it not?
It’s the nature of business…..or is it?
And when they do……
What can you do to help them……. NOW?
1. PAY ATTENTION!
They need your eyeballs.
They need your feedback and not just “this won’t work in CRE” feedback.
3. Help them find users.
SHARE and Share a lot. Don’t be greedy. They need you to be open and SHARE!
We need to help each other. You share comps. You work on deals together. Why not use the same mentality ? Help them grow by working with someone.
5. Help them find money.
You are connected. You know it. You would be amazed at how many people you know who want to “help” a growing company.
6. Become part of the solution.
7. Write me a check for a 1 billion dollars. (Hey, you have to ask if you want anything in this world right?)
8. Research 5 companies that YOU think might be “something.”
Connect with them. Reach out. They will be thrilled. You might be surprised.
9. Understand how lucky we are. It’s a new era. You are staring right into it.
Be apart of it. Champion it. Embrace it.
10. Walk away from the old models. Stop Paying Your Bill!
Worried that you will just create the same “monopoly mentality?”
Don’t let it happen. Be a better customer/user/client/consumer.
It’s 2014 And I Create A Billion Dollar Commercial MLS Platform. Will You Use IT?
You tell me!
Thoughts comments opinions and points of view are always encouraged and appreciated.
photo credit: <a href=”https://www.flickr.com/photos/wackystuff/5617142255/”>wackystuff</a> via <a href=”http://photopin.com”>photopin</a> <a href=”http://creativecommons.org/licenses/by-nc/2.0/”>cc</a>