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The Hot Property That’s Next on Tech’s Agenda: Real Estate

nytimes.com

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Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#3

Post by brightball »

It will be interesting to see if any of this goes anywhere. Real Estate is one of the tougher markets to really disrupt because of the amount of licensing, regulation and the fact that the local MLS is usually controlled by the local real estate group.

You have to pay a fee to join each one. I've heard a lot of tech people clamoring for a central MLS service but the local groups are well aware that controlling the listings protects the entire field.

There's so many hands in the pot from banks to inspectors to attorneys to insurance before you even get into the liability insurance that each one of them (and the realtors) have to carry for these transactions...since there are so many opportunities to get sued.

It's not going to be an easy nut to crack, but it should be fun to watch all this money try.

Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#4

Post by ianai »

Caveat: I can’t read the article. I’m just riffing based on my knowledge of RE and personal experiences with tech.

As someone who’s researched real estate, I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns. If people can buy homes so easily that they can profit on making superficial changes, then prices will go up far above efficient. That pushes actual “householders” out of the market. Also, look at the dumpster fire that is Silicon Valley RE.

If I’m thinking of ways tech may help RE:

-Actually providing previously unavailable or unobservable information to buyers. Knowing a home will require expensive repairs soon would, in aggregate, help correct valuations. Alerting people of a home being in a flood plain, hurricane path, etc would help.

-Helping potential buyers with otherwise good credit but lacking some of the traditional requirements could help. But again that would probably also make flipping so easy and profitable to really screw up the market.

-Disrupting the contractor/developer industry could flush some seriously awful bad actors out.

-Making rent and RE cheaper would boost the long term wealth of the country - by diminishing the portion of household income devoted to RE. Particularly, rent. Rent shouldn’t be anywhere near comparable to mortgages. You never get to see rent money again. (Here’s an idea: make a “shitty apartment” insurance. People pay an upfront insurance cost on moving into a new apartment. In return, if at any time during the residence they want to break the lease for a “qualified reason” the insurance helps them negotiate the process and ponies exit costs. Eventually a complex’s insurance premium would be enough to signal to potential renters about a place.)

Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#5

Post by baybal2 »

ianai wrote: post #4

Caveat: I can’t read the article. I’m just riffing based on my knowledge of RE and personal experiences with tech. As someone who’s researched real estate, I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns. If people can buy homes so easily that they can profit on making superficial changes, then prices will go up far above efficient. That p…

>I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns

If that can amount to help, maybe burning it to the ground will do it?

Google Ziroom and what it did to rental market in China.

Were something similar to appear and get hold USA, expect American RE companies in big cities to burn down within a year.

But I doubt this prospect, I bet rich RE boys will spare no money lobbying to nuke it like they did with Airbnb.

Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#6

Post by ianai »

baybal2 wrote: post #5
ianai wrote: post #4

Caveat: I can’t read the article. I’m just riffing based on my knowledge of RE and personal experiences with tech. As someone who’s researched real estate, I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns. If people can buy homes so easily that they can profit on making superficial changes, then prices will go up far above efficient. That p…

>I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns If that can amount to help, maybe burning it to the ground will do it? Google Ziroom and what it did to rental market in China. Were something similar to appear and get hold USA, expect American RE companies in big cities to burn down within a year. But I doubt this prospect, I bet rich RE b…

I don’t think they’d have to worry. That business model clashes with the individualism I’ve experienced in the west. Their whole apartment option sounds viable though. They’d have some success here but they’d have to pick their markets well.

Certainly, let us not forget a rich RE boy lives in the White House right now.

Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#8

Post by qubax »

Hard to tell whether this is a news article or an ad for the featured company.

Also, tech has been in real estate for a very long time. Zillow, Trulia, Redfin, etc were supposedly "disrupting and revolutionizing" real estate before smartphones got popular. I remember reading about this more than a decade ago. My god time flies.

From 2007.

Redfin On 60 Minutes Tonight – Real Estate Market Disruption.

https://techcrunch.com/2007/05/13/redfin-on-60-minutes-tonig...

Zillow has created a real estate revolution.

http://archive.fortune.com/magazines/fortune/fortune_archive...

Re: The Hot Property That’s Next on Tech’s Agenda: Real Estate

#10

Post by baybal2 »

ianai wrote: post #6
baybal2 wrote: post #5

Earlier quoted context omitted.

>I have a hard time seeing how tech can help the RE industry. For starters, RE bubbles have led to the worst economic downturns If that can amount to help, maybe burning it to the ground will do it? Google Ziroom and what it did to rental market in China. Were something similar to appear and get hold USA, expect American RE companies in big cities to burn down within a year. But I doubt this prospect, I bet rich RE b…

I don’t think they’d have to worry. That business model clashes with the individualism I’ve experienced in the west. Their whole apartment option sounds viable though. They’d have some success here but they’d have to pick their markets well. Certainly, let us not forget a rich RE boy lives in the White House right now.

FYI Ziroom had whole apartment rentals for many years now
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