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It’s 2014 And I Create A Billion Dollar Commercial MLS Platform. Will You Use IT?

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And Why Not?

This all started back in August 2011 when I posted 3 articles.

Scroll over each one and click.

I Create a Billion Dollar Commercial MLS.Step 1: Customer Service.

I Create a Billion Dollar Commercial MLS. Step 2: Tear the 800-lb Gorilla a New Ass.

I Create A Billion Dollar Commercial MLS Step 3: Community or Fame,Money,Sex,Power.

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.

2. Positioning/Strategy.

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?

Maybe! 

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.

2. Feedback.

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!

4. Collaborate.

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.

SO…..

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>

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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  • Thanks Duke. Feedback is the most important thing to us. When our members make a suggestion we are so grateful. We are human beings here and we answer our phone to listen to our members. Also, word of mouth is our only way to grow. If a member joins our site and tells another colleague in their market to join, it helps everyone! More eyeballs, as you say and a more powerful tool for their use. All of these sites work if they grow. I think that is your point. So the bottom line for sites like http://theBrokerlist.com is for people to tell other people. Especially for our site, referral to qualified commercial real estate colleagues saves us so much time. When we get posers it just wastes our time as we do not approve them and they do not get verified! So our plea or call to action is to tell your readers, who are our members to share our site with your company colleagues to join and/or people you know who are truly commercial real estate professionals to join us. It is a free site designed to remain free for our members to post their profiles, company profiles and HAVES, WANTS and TRANSACTIONS. Our Marketplace Partners pay for the site through their advertising on our site. It is that simple. We are a free alternative and we have a Developer API for those approved CRE Tech sites that wish to work with us to save their members time and effort and eliminate redundancy. Thanks for this important message to the industry.

  • Thanks for the post Duke. We’re listing and always keen to chat. http://spacelist.ca

  • tcmacker

    There has to be a viable alternative to costar/loopnet. It will happen.

    • Chase Pursley

      There are. Not only are there viable alternatives, they are considerably better than #loopstar in every aspect.

      • quizzly

        Until they bring me buyers, none are better. That is the metric. I don’t care if you have fancy maps, virtual tours, or even handjobs.

  • Chase Pursley

    All your posts are great, Duke. But this one is particular is killer.

  • Good post Duke. We couldn’t agree with you more. Should have an announcement and our new site up soon.
    Our beta signup list is here: http://squarematics.com

  • spotCRE

    As the newest and most unknown start-up in the CRE listings scene, we at spotCRE have another vision especially as it concerns the costs of listings sites. To make a service site simple and easy to use is not costly, if the services can be offered in free and paid memberships. Paid memberships can be offered at very reasonable prices, as you can see by our price scale at http://www.spotcre.com/index.php?mode=price .
    Chris Clark wrote in a blog posting: “And, they’re willing to pay a fair price to list – but don’t believe anyone should have to pay to search.” and she is right.
    We will extend our site step by step, with new innovations that don’t cost millions of dollars to bring to market, and we also appreciate the help of the users in making the site more attractive. We just started in October 2014, and our focus is not only on CRE brokers and agents. There are many commercial owners or investors who look into the CRE market to buy, lease or sell. We cannot leave them out of this game, or this site.

    But the question is, Will You Use It?

    • Vicky Salizar

      No. It looks like it is from 1999.

      • spotCRE

        Vicky,
        Beauty is only skin deep. It depends on simplicity.
        At our site, a seller need only to fill out information on one page to add an property in real-time to his online listings; simple to use is our motto. So the website is also simple and clear in its layout.

  • The brokerage community is the problem and the solution. If brokers were willing to be responsible for keeping their listing data accurate and up-to-date then a broker centric commercial MLS would be viable. The problem is brokers would rather bitch than keep their data current and accurate.