For years, various types of companies have attempted to carve out a piece of the real estate industry, with only nominal success in taking business from traditional full-service brokerages. Why do the latest competitors appear to pose more serious threats?
The answer seems to hinge on the marriage of two key elements: technology and strong investor funding. Nearly all the newest “disrupters” rely on leveraging technology in one way or another, including sophisticated pricing models, cutting-edge property marketing techniques, and treamlined financing and transaction management processes.
A few of these companies also benefit from strong financial backing, in some cases extending well into nine figures. These are the firms featured in this issue of Today’s Buyer’s Rep.
Like traditional real estate firms, disrupters pitch their services primarily to the listing side of the business. That said, they also aim to attract business from buyers. There are important implications for everyone involved in the transaction—including buyer’s agents.
This issue is not intended to trigger alarm bells. Instead, it’s designed to provide a succinct summary of recent developments that may, at some point, impact business in your own local market.
Additionally, and perhaps most importantly, you’ll find suggestions for maintaining your competitive edge—key considerations for every real estate professional, whether your competition comes from a new-model disrupter or a traditional brokerage.
As always, our goal is to help you achieve your greatest possible success.