Looking for feedback from people active in the industry
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[{"id": "gu6t17c", "text": "You will have more value if you can find sellers. In this market, we are already inundated with buyers...too many buyers and not enough product to sell them.", "replies": [{"id": "gu6tqmx", "text": "Very true. My goal would be able to help Agents, Brokers and Investors target those people are that looking to sell but just haven't pulled the trigger yet.", "replies": [{"id": "gu6uw88", "text": "that is the most difficult part in this market, finding those potential sellers.", "replies": [{"id": "gu6vje3", "text": "That's good to know. Lets just say if you found a marketing agency that was able to get you in front of those leads that were thinking selling how much would you pay them to manage it all?", "replies": [{"id": "gu6yyyd", "text": "I can't put a value on it. I have had an AV making calls for me and it has been an expensive learning experience. While they were able to setup some meetings, the ROI has been negative over a 3 month period.\n\nQuick note on CoStar. They are a monopoly that should be been shut down years ago by the US government. Their data is not completely reliable. Many data sources don't have reliable data.", "replies": [{"id": "gu6zou4", "text": "Lesson learned. And that's why I wanted to reach out to the active professionals in the industry to better my agency.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gu6xgnx", "text": "As an active agent, I would not hire an outside marketing or research firm. I pay for listing services like Loopnet &amp; Crexi and will try a free trial of Reonomy every now and again, but it is far more cost-effective and efficient for agents to build and use their own databases. I work for a firm that does not own my CRM data, so my knowledge base of principles in my area is proprietary and gives me the inside lane on off-market deals.\n\nDoing my own research and staying active on the phone have always been the keys to my success. All of the information your company would be sourcing is public or easily accessible. Even though it is a pain, any agent worth their salt should do the research themselves, so they truly understand the landscape of the market.\n\nYou would be competing against established players like Costar (Death Star) and Reonomy, so you would have to catch up to them, do a better job, and undercut them on price. If you have some amazing algo or tech advantage it could be worth a shot, but scaling in this space takes time and a lot of capital. If you are successful, you will need to be prepared for a lawsuit from Costar, which is where Reonomy is right now. If you can make it through a few years of fighting with them, they may buy you out for a pretty penny. So unless you are Ryan Cohen, I would try an easier less monopolized space.", "replies": [{"id": "gu6xuj4", "text": "Noted. Really appreciate the time you took to write this out. Thank you!", "replies": [], "depth": 2}], "depth": 1}]