Proptech

Losing sleep again….   I remember as if it were yesterday.  After talking to over half dozen CTOs at large real estate brokerage firms, and how they did not want access to more current market data, since access, did not help their agents or brokers make more commissions.  They wanted to keep their quasi monopoly and keep making 3-10% on the buy and sell-side, and keep homebuyers and investors uniformed.  This response did not sit with me well, and thus the spark was lit, to find a solution to help the decision-makers, who needs to know exactly where to buy, and exactly when to sell.

But – It can’t be done.  Why?

1) There are two quasi monopolies in the US.  One, in the GSI or mapping industry.  ESRI and Land Vision have over 90% market share in the CRE and Fortune 500 companies.  And everybody knows about the monopoly of the MLS and the lockbox key.   So, it’s not going to be easy.

2) Despite the billions invested in real estate tech, fintech, proptech, and AI, still the fundamental issue of having access to fresh and more current market data has not been solved.  Because most VCs just invest in me-to, interface changes, and business model changing startups.  Not innovation.   not startups that are disruptive, and bring in new datasets into large industries, like the largest asset class in the US, real estate.

3) Even the top people in the real estate industry are not even aware as to how large retailers and builders, determine exactly how and where to build and locate new stores.  These systems are built in-house, take over 5-years to build, and proprietary.   Costing over $500K to build, with ongoing very high data costs of the updates of monthly / quarterly demographic and economic datasets for all US markets and submarkets.   And like the monopolies, the 1% want to keep their power and control, therefore…

It can’t be done.

4) Even if someone could build a better system, with more current data that helps buyers and seller make more informed decisions, how would users access the data?  The real estate industry is filled with legacy old-school products.   Just drive around thinking, and making decisions based on stale data that is over 400-days old.   And most vendors do not even disclose when their data is updated, they just say 2020 or 2019, months and years ago.   Nothing is going to change…

It can’t be done.

What about as the famous Steve said – thinking different?   And the proverbial – What-if?

What if we change the website to something slicker, and a better landing page and explainer video at http://zipintel.ai/own-offer/     Tech is built and at https://map.zipanalyser.com   We educated the industry that current market data even exists, raise pre-seed capital and start scaling.

What if we find partners like Adam and James, and we get 200+ people into a room at https://www.linkedin.com/events/launchinggreatnewproptechtechno6912482234260226048   so we can build our APIs and get this data to the masses faster and smarter?   And finally, have working capital needed.   Or maybe not.  Time will tell….

Maybe it can’t be done.  We will see.

new proptech2
new proptech2

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