Mt. Davidson — San Francisco
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Why nobody has killed off real estate agents | Dirt.
While it was originally published in March of this year, I just stumbled upon this very interesting article in Bloomberg Businessweek titled: “Why Redfin, Zillow, and Trulia Haven’t Killed Off Real Estate Brokers.”
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at Woods Restaurant & Bar
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@OMERSVentures – View on Path.
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It is not about building a smoother version of what already exists in the market. That is a transient advantage as existing companies adopt technology. If you want to build something big and lasting you have use the internet/mobile to do something that simply was not possible before.
Continuations: Reminder: Net Native Means Previously Impossible (via nickgrossman)
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A true marketplace needs natural pull on both the consumer and supplier side of the market.
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It turns out that the average rake at Priceline Group is even higher today, as they allow merchants to voluntarily bid up their rake for better placement in the network (you can see this in the table above). This is one of my favorite marketplace business model “tweaks.” You start with a low rake to get broad-based supplier adoption, and you add in a market-driven pricing dynamic that allows those suppliers who want more volume or exposure to pay more on an opt-in basis. This way no one leaves the network due to excessive fees, yet you end up with a higher average rake over time due to the competitive dynamic. And when prices go up due to bidding and competition, the suppliers blame their competition not the platform (part of the genius of the Google AdWords business model). This also allows you to extract more dollars from those suppliers who desire to spend more to promote themselves (without raising the tax on those that don’t).
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Chicken and Egg Problem of Two-Sided Markets and Platforms: Getting Producers to bring in the Consumers
Designing your platform so that your producers can bring along consumers is a great strategy for seeding a platform while concentrating on only one side of the market.
