Unless you're getting sued or threatened with jail time, it's not disruption.
Want To Disrupt An Industry? Try Actually Working In It First
51–60 of 63 posts
Re: Want To Disrupt An Industry? Try Actually Working In It First
#52Earlier quoted context omitted.
Thanks for the article and the insight, Lee. I'm planning on building something for real estate as well and have some target users working with me but I probably might not have enough insight on the pains of the process. I'm tempted to go your route and get a broker license as well.
I spent 5 years in commercial real estate brokerage (multifamily) and closed some signifigant deals. What you are building is radically different that what I am working on, but they are both in the real estate space. I'd be happy to talk to you sometime about it. My email is my HN name at Gmail.
Thanks for the offer and I'll take you up on it. I'll shoot you an email when I get home.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#53Hey, this is Lee from RentHop. One thing that isn't very clear from the writeup: we went through a LONG trough of sorrow before finding our current pivot. That's a story for another day...
I remember when you first launched renthop was all about no-fee listings. Are you now including fee rentals? Can you say more about the current pivot?
Re: Want To Disrupt An Industry? Try Actually Working In It First
#54Earlier quoted context omitted.
My mother is a real estate agent and worked in both NY (westchester county) and NC (raleigh) and I grew up helping my mother with myriad activities necessary to list and sell a house You'd be surprised how much work is required to keep the real estate market liquid. I'd say half the work is necessary, some automatable, some not so much. However, a lot of the work doesn't even have much to do with work necessary every…
Most of the work that you are referring to pertains to real estate sales. I believe the original comment regarding the $3K and NYC brokers has to do with leasing agents/rental brokers. I was a leasing agent before; there's really nothing to the job.
True, I realized that it was rent-centric after I posted this comment. However, I felt it was worth leaving up because it highlights that there are a lot more activities involved than people imagine. I will agree though that more than half of the items above are real estate centric. On top of that NYC and SF agents have to do less than anyone else insofar as actual tedium work is concerned. Apartments practically sell themselves in those markets, so agents really only have to work to stay "in the know" to be able to show you the best apartments before it goes on the market.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#55Earlier quoted context omitted.
My mother is a real estate agent and worked in both NY (westchester county) and NC (raleigh) and I grew up helping my mother with myriad activities necessary to list and sell a house You'd be surprised how much work is required to keep the real estate market liquid. I'd say half the work is necessary, some automatable, some not so much. However, a lot of the work doesn't even have much to do with work necessary every…
Thanks for the reply. I'm trying to build something to help with the automation and would love to have a chat with you sometime if you're available.
Shoot me an email. It's in my profile.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#56Earlier quoted context omitted.
Most real estate startups are complete and utter crap. I've used dozens of pieces of software targeted at real estate agents and I can't think of a more broken software market. It's truly shameful. Usability is among the worst you will find. This is particularly egregious since RE is filled with some of the most technically incompetent people you've ever met. Some real estate agents are fantastic and have found their…
Do you think it's actually crucial to go out and obtain a broker license myself to understand the pain points? I'd love to avoid the pitfalls that most startups have already made.
You won't see 90% of the pain points above without one. However, with the list above and access to real agents, you can probably work your way through being aware of and understanding many of the pain point.
If you really want to understand how an agent works, focus on their calendar. 90% of their work involves coordinating many activities for a listing. You can also try to get ahold of sample files for east listing that brokers will keep (they are legally required to keep them for 7 years in NC. I expect a similar requirement elsewhere).
In short, no you don't need to get a license, but you need to be a Sherlock and know what questions to ask to gather all the evidence you need.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#57Earlier quoted context omitted.
Most real estate startups are complete and utter crap. I've used dozens of pieces of software targeted at real estate agents and I can't think of a more broken software market. It's truly shameful. Usability is among the worst you will find. This is particularly egregious since RE is filled with some of the most technically incompetent people you've ever met. Some real estate agents are fantastic and have found their…
Redfin has excellent UX, both on iOS and the web. We've been using their tools for the last three years, with consistent delight.
Redfin and Trulia are both the exception. There are dozens of businesses that target real estate that you've never heard of, mostly because they aren't B2C like Redfin and Trulia.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#58Earlier quoted context omitted.
My mother is a real estate agent and worked in both NY (westchester county) and NC (raleigh) and I grew up helping my mother with myriad activities necessary to list and sell a house You'd be surprised how much work is required to keep the real estate market liquid. I'd say half the work is necessary, some automatable, some not so much. However, a lot of the work doesn't even have much to do with work necessary every…
Most of the work that you are referring to pertains to real estate sales. I believe the original comment regarding the $3K and NYC brokers has to do with leasing agents/rental brokers. I was a leasing agent before; there's really nothing to the job.
I am a current leasing agent; there is a lot to the job.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#59Earlier quoted context omitted.
Most of the work that you are referring to pertains to real estate sales. I believe the original comment regarding the $3K and NYC brokers has to do with leasing agents/rental brokers. I was a leasing agent before; there's really nothing to the job.
I am a current leasing agent; there is a lot to the job.
I'd love to hear how your responsibilities as a lease agent compare and contrast with the list I wrote above for a buyer/seller agent.
Re: Want To Disrupt An Industry? Try Actually Working In It First
#60Earlier quoted context omitted.
Most real estate startups are complete and utter crap. I've used dozens of pieces of software targeted at real estate agents and I can't think of a more broken software market. It's truly shameful. Usability is among the worst you will find. This is particularly egregious since RE is filled with some of the most technically incompetent people you've ever met. Some real estate agents are fantastic and have found their…
Do you think it's actually crucial to go out and obtain a broker license myself to understand the pain points? I'd love to avoid the pitfalls that most startups have already made.
Maybe not license, but a 60 "hour" standard broker training course (book and web videos to fast forward through) is worthwhile to learn the basics.