Another thing that was not reported in the Inman News article is Mr Perriello’s comments on the Broker Public Portal (BPP). Again Mr. Perriello’s comments were very concise. His main concerns (and I’m paraphrasing) was that the amount of money the current portals spend (Zillow Group, Realtor.com, etc.) is so large that the BPP could never hope to compete with them and that valuable time and money would be wasted on such a folly.
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Alex needs to look up the word “asymmetrical”.
By the calculus he uses, the only practical response to the growing market power and influence of the major portals is to accept as the new facts of life in the industry.
Think of the Ryder Cup as being between the Greater Britain and Europe. There shouldn’t have ever been a USA…
This brings to mind a recent TED talk on underdogs… Gotta love Malcolm Gladwell!
https://www.ted.com/talks/malcolm_gladwell_the_unheard_story_of_david_and_goliath?language=en?utm_source=tedcomshare&utm_medium=referral&utm_campaign=tedspread
I think this is more about the weapon/people you choose. There’s a real opportunity here, but I think going straight at them is suicide.
There needs to be more thought and imagination. Does anyone really think that a site license for Homesnap is going to compete/beat Zillow Group/Move (WSJ)?
Did brokers want to start another newspaper when they were the de-facto choice in real estate advertising?
Conventional thinking from a unconventional source. I’m concerned about you, Skinny.