Want To Disrupt An Industry? Try Actually Working In It First

Post by Evbn » Sat, Sep 29, 2012, 4:29 PM UTC

crucialfelix wrote: post #37

mijail wrote: post #8

New York real estate is a system. You have to learn the system to hack it. A lot of real estate start ups are trying to "Avoid the Broker." The system isn't as broken as we may think. Landlords enjoy minimal vacancy. Brokers get paid generously. Tenants find apartments. Complaining about a 15% broker fee is like complaining about the gas for your Lamborghini.

more significantly, the major NY brokerages have managed to keep a real MLS from forming. every other US market has multiple listing service, but in the city its been killed and any attempts (like VOW) have been effectively squashed. this is for sales. rentals are small change in comparison.

Post by gawker » Wed, Oct 03, 2012, 3:10 PM UTC

Evbn wrote: post #60

gawker wrote: post #48

Earlier quoted context omitted.

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.