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The New ‘Real Estate’ Tech Players: Don’t Trust the Billion-Dollar Valuations

May 23, 2018 by

Realty ONE Group Founder Warns Virtual Real Estate Models Are Nothing More Than ‘Get-Rich-Quick Schemes’

The real estate market is more polluted than crowded. There are a number of respected, well-recognized national and international brands that have been making a positive impact in people’s lives for decades. However, history has a way of repeating itself, and at the opposite end of the spectrum, there are several “get-rich-quick schemes” that are built on an unsustainable and weak operational foundation.

Valuations are often difficult to justify, as the public market dictates the estimated value of a product and service. For instance, how can cloud-based brokerages—for example, eXp Realty, a relatively new real estate organization with some of the lowest production-per-agent stats—be valued as high as $ 1 billion on the stock market while a respected real estate company like RE/MAX traded at a lower market cap this week and is more than 10 times larger, hugely profitable, and has an established brand? Realogy, the giant of the industry, has been profitable, as well. Conversely, some of these newer firms with high valuations have been losing money for years while continuing to dilute their equity to fund operations and their multilevel marketing commitments. More importantly, they motivate agents to recruit other agents to benefit indirectly from earned commissions, which is a dangerous message, as top producers are being distracted from their core business, and clients may suffer along the way.

There are many warning signs that everyone needs to be aware of with these new “tech plays.” I was a former stock broker and computer programmer, who became a top-producing real estate professional, and then created Realty ONE Group in 2005. Tech is sexy, but most times it’s a shiny new toy, unfortunately.

With this new crop of virtual real estate models, speed to market isn’t the only variable. It’s easy to throw something together to create hype, but it’s much more difficult to take the time and diligence to understand your customers (aka real estate agents), create a solid and realistic UVP for their businesses, and build it so that it is scalable, adaptable and fault-tolerant. On average, about 10 – 50 errors occur per 1,000 lines of delivered code, developed with a level of structured programming. Otherwise, the system is not scalable, and not robust for that matter. A virtual real estate company may have millions of code behind it.

Scaling to large adoption takes serious strategy work. Ability to get this far doesn’t prove a team has skills to scale. When cracks start appearing in the model, to what lengths will the leadership reach to protect everyone’s interest in their organization? In a day of real concern around privacy, how much right do technology companies have to access sensitive and private data for “market analysis and product and/or service recommendations?” Will they never sell consumer lists?

Net net, residential real estate is a people and face-to-face relationship business. At most times, it’s an emotional and significant transaction, especially when primary homes are involved. No two transactions are alike when it comes to resales in residential real estate.

Jewgieniew_Kuba_60x60Kuba Jewgieniew is the CEO and founder of Realty ONE Group. To learn more about the services, support and coaching programs Realty ONE Group provides to its growing family, please visit www.realtyONEgroup.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post The New ‘Real Estate’ Tech Players: Don’t Trust the Billion-Dollar Valuations appeared first on RISMedia.

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#CES2018: Tech Up Your Style

Jan 21, 2018 by

By Melissa Dittmann Tracey, REALTOR® Magazine

ces-logoThe mega consumer electronic showcase, CES, lands in Las Vegas this week. It may not be the place you typically go to for décor trends, but technology is having an undeniable influence in home design, like see-through refrigerators and smart lighting.

Consumers look to you for expertise too. Forty-two percent of Americans say they would look to their sales agent to provide suggestions about how staging their home with smart home products could impact the sale of their home, according to a newly released Coldwell Banker Real Estate survey of more than 3,000 Americans.

So what do we see that has potential this year to spice up some designs? Here are a few picks from CES 2018.

Accent Wall Light Show

 

Photo credit: Nanoleaf

Photo credit: Nanoleaf

Nanoleaf’s color-changing Aurora light panels would make for an attention-getting accent wall in small or big doses. Connect them in any configuration you like. They just stick to the walls. The panels change colors, and you can sync the lights to music and also with one of your AI’s, Alexa, Siri, or Google Assistant. The panels are touch-sensitive so with a tap you can turn them on and off, dim them, or change the color.

Statement Refrigerators

Refrigerators just keep getting smarter. LG’s new InstaView ThinQ smart refrigerator features a 29-inch touchscreen that becomes transparent if you knock on it twice. You can also use the touchscreen to manage your food and get automatic reminders when items are running low.

Photo credit: LG

Photo credit: LG

Samsung has a similar model in appearance with its 2018 version of its Family Hub smart refrigerator. This year’s model offers support for Samsung’s Bixby voice assistant to handle voice commands. It can connect to other third-party devices for the smart home too. So you can actually view what’s happening outside your front door from your refrigerator door.

Photo credit: Samsung

Photo credit: Samsung

Notice both the Samsung and LG models are both featured in black stainless, which we still believe will be a growing competitor to traditional stainless steel.

Mirror, Mirror on the Wall … 

Photo credit: Kohler

Photo credit: Kohler

Check out this smart mirror. Kohler is introducing a new Verdera Voice Lighted Mirror, which is a bathroom mirror that has Amazon’s Alexa built-in. It features a dual-microphone solution for accuracy in voice-control and speakers are housed in the casings. There is also a motion-activated wayfinding nightlight for safety, and LED lights for makeup application or other grooming needs. It can also communicate with other connected products in your Wi-Fi network.

Is that an AI in your ceiling? 

Photo credit: GE

Photo credit: GE

Talk with your ceiling lights. You’ll be able to with GE’s Smart Ceiling Fixture. It is a large disk that boasts a speaker in the middle. You can give it voice-driven tasks on anything, like adding an item to your grocery list or telling it to play music. You can also tell it to adjust the warmness or coolness of the lights. It responds to your commands. Flush mount or recessed can lighting options will be available.


Styled, Staged & SoldStyled, Staged & Sold

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#CES2018: Tech Up Your Style

Jan 20, 2018 by

By Melissa Dittmann Tracey, REALTOR® Magazine

ces-logoThe mega consumer electronic showcase, CES, lands in Las Vegas this week. It may not be the place you typically go to for décor trends, but technology is having an undeniable influence in home design, like see-through refrigerators and smart lighting.

Consumers look to you for expertise too. Forty-two percent of Americans say they would look to their sales agent to provide suggestions about how staging their home with smart home products could impact the sale of their home, according to a newly released Coldwell Banker Real Estate survey of more than 3,000 Americans.

So what do we see that has potential this year to spice up some designs? Here are a few picks from CES 2018.

Accent Wall Light Show

 

Photo credit: Nanoleaf

Photo credit: Nanoleaf

Nanoleaf’s color-changing Aurora light panels would make for an attention-getting accent wall in small or big doses. Connect them in any configuration you like. They just stick to the walls. The panels change colors, and you can sync the lights to music and also with one of your AI’s, Alexa, Siri, or Google Assistant. The panels are touch-sensitive so with a tap you can turn them on and off, dim them, or change the color.

Statement Refrigerators

Refrigerators just keep getting smarter. LG’s new InstaView ThinQ smart refrigerator features a 29-inch touchscreen that becomes transparent if you knock on it twice. You can also use the touchscreen to manage your food and get automatic reminders when items are running low.

Photo credit: LG

Photo credit: LG

Samsung has a similar model in appearance with its 2018 version of its Family Hub smart refrigerator. This year’s model offers support for Samsung’s Bixby voice assistant to handle voice commands. It can connect to other third-party devices for the smart home too. So you can actually view what’s happening outside your front door from your refrigerator door.

Photo credit: Samsung

Photo credit: Samsung

Notice both the Samsung and LG models are both featured in black stainless, which we still believe will be a growing competitor to traditional stainless steel.

Mirror, Mirror on the Wall … 

Photo credit: Kohler

Photo credit: Kohler

Check out this smart mirror. Kohler is introducing a new Verdera Voice Lighted Mirror, which is a bathroom mirror that has Amazon’s Alexa built-in. It features a dual-microphone solution for accuracy in voice-control and speakers are housed in the casings. There is also a motion-activated wayfinding nightlight for safety, and LED lights for makeup application or other grooming needs. It can also communicate with other connected products in your Wi-Fi network.

Is that an AI in your ceiling? 

Photo credit: GE

Photo credit: GE

Talk with your ceiling lights. You’ll be able to with GE’s Smart Ceiling Fixture. It is a large disk that boasts a speaker in the middle. You can give it voice-driven tasks on anything, like adding an item to your grocery list or telling it to play music. You can also tell it to adjust the warmness or coolness of the lights. It responds to your commands. Flush mount or recessed can lighting options will be available.


Styled, Staged & SoldStyled, Staged & Sold

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#CES2018: Tech Up Your Style

Jan 19, 2018 by

By Melissa Dittmann Tracey, REALTOR® Magazine

ces-logoThe mega consumer electronic showcase, CES, lands in Las Vegas this week. It may not be the place you typically go to for décor trends, but technology is having an undeniable influence in home design, like see-through refrigerators and smart lighting.

Consumers look to you for expertise too. Forty-two percent of Americans say they would look to their sales agent to provide suggestions about how staging their home with smart home products could impact the sale of their home, according to a newly released Coldwell Banker Real Estate survey of more than 3,000 Americans.

So what do we see that has potential this year to spice up some designs? Here are a few picks from CES 2018.

Accent Wall Light Show

 

Photo credit: Nanoleaf

Photo credit: Nanoleaf

Nanoleaf’s color-changing Aurora light panels would make for an attention-getting accent wall in small or big doses. Connect them in any configuration you like. They just stick to the walls. The panels change colors, and you can sync the lights to music and also with one of your AI’s, Alexa, Siri, or Google Assistant. The panels are touch-sensitive so with a tap you can turn them on and off, dim them, or change the color.

Statement Refrigerators

Refrigerators just keep getting smarter. LG’s new InstaView ThinQ smart refrigerator features a 29-inch touchscreen that becomes transparent if you knock on it twice. You can also use the touchscreen to manage your food and get automatic reminders when items are running low.

Photo credit: LG

Photo credit: LG

Samsung has a similar model in appearance with its 2018 version of its Family Hub smart refrigerator. This year’s model offers support for Samsung’s Bixby voice assistant to handle voice commands. It can connect to other third-party devices for the smart home too. So you can actually view what’s happening outside your front door from your refrigerator door.

Photo credit: Samsung

Photo credit: Samsung

Notice both the Samsung and LG models are both featured in black stainless, which we still believe will be a growing competitor to traditional stainless steel.

Mirror, Mirror on the Wall … 

Photo credit: Kohler

Photo credit: Kohler

Check out this smart mirror. Kohler is introducing a new Verdera Voice Lighted Mirror, which is a bathroom mirror that has Amazon’s Alexa built-in. It features a dual-microphone solution for accuracy in voice-control and speakers are housed in the casings. There is also a motion-activated wayfinding nightlight for safety, and LED lights for makeup application or other grooming needs. It can also communicate with other connected products in your Wi-Fi network.

Is that an AI in your ceiling? 

Photo credit: GE

Photo credit: GE

Talk with your ceiling lights. You’ll be able to with GE’s Smart Ceiling Fixture. It is a large disk that boasts a speaker in the middle. You can give it voice-driven tasks on anything, like adding an item to your grocery list or telling it to play music. You can also tell it to adjust the warmness or coolness of the lights. It responds to your commands. Flush mount or recessed can lighting options will be available.


Styled, Staged & SoldStyled, Staged & Sold

read more

#CES2018: Tech Up Your Style

Jan 18, 2018 by

By Melissa Dittmann Tracey, REALTOR® Magazine

ces-logoThe mega consumer electronic showcase, CES, lands in Las Vegas this week. It may not be the place you typically go to for décor trends, but technology is having an undeniable influence in home design, like see-through refrigerators and smart lighting.

Consumers look to you for expertise too. Forty-two percent of Americans say they would look to their sales agent to provide suggestions about how staging their home with smart home products could impact the sale of their home, according to a newly released Coldwell Banker Real Estate survey of more than 3,000 Americans.

So what do we see that has potential this year to spice up some designs? Here are a few picks from CES 2018.

Accent Wall Light Show

 

Photo credit: Nanoleaf

Photo credit: Nanoleaf

Nanoleaf’s color-changing Aurora light panels would make for an attention-getting accent wall in small or big doses. Connect them in any configuration you like. They just stick to the walls. The panels change colors, and you can sync the lights to music and also with one of your AI’s, Alexa, Siri, or Google Assistant. The panels are touch-sensitive so with a tap you can turn them on and off, dim them, or change the color.

Statement Refrigerators

Refrigerators just keep getting smarter. LG’s new InstaView ThinQ smart refrigerator features a 29-inch touchscreen that becomes transparent if you knock on it twice. You can also use the touchscreen to manage your food and get automatic reminders when items are running low.

Photo credit: LG

Photo credit: LG

Samsung has a similar model in appearance with its 2018 version of its Family Hub smart refrigerator. This year’s model offers support for Samsung’s Bixby voice assistant to handle voice commands. It can connect to other third-party devices for the smart home too. So you can actually view what’s happening outside your front door from your refrigerator door.

Photo credit: Samsung

Photo credit: Samsung

Notice both the Samsung and LG models are both featured in black stainless, which we still believe will be a growing competitor to traditional stainless steel.

Mirror, Mirror on the Wall … 

Photo credit: Kohler

Photo credit: Kohler

Check out this smart mirror. Kohler is introducing a new Verdera Voice Lighted Mirror, which is a bathroom mirror that has Amazon’s Alexa built-in. It features a dual-microphone solution for accuracy in voice-control and speakers are housed in the casings. There is also a motion-activated wayfinding nightlight for safety, and LED lights for makeup application or other grooming needs. It can also communicate with other connected products in your Wi-Fi network.

Is that an AI in your ceiling? 

Photo credit: GE

Photo credit: GE

Talk with your ceiling lights. You’ll be able to with GE’s Smart Ceiling Fixture. It is a large disk that boasts a speaker in the middle. You can give it voice-driven tasks on anything, like adding an item to your grocery list or telling it to play music. You can also tell it to adjust the warmness or coolness of the lights. It responds to your commands. Flush mount or recessed can lighting options will be available.


Styled, Staged & SoldStyled, Staged & Sold

read more
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