Build a Financial Moat… Now!

Build A Financial Moat… NOW!

Recent headlines in the real estate industry:

New iBuyer Bungalo is now armed with $1 Billion dollars for property acquisition. Bungalo aims to eliminate the “middleman” – real estate agents.

OpenDoor announces game-changing brokerage acquisition.

(OpenDoor is another iBuyer to keep a close eye on.)

Zillow Offers officially launches in Atlanta.

Real Estate’s new disruptors: The “PayPal Mafia”. A group of hard-charging, investor-entrepreneurs who have built some of the world’s most iconic tech companies have launched a multi-pronged assault on the real estate industry.

Zillow is getting into the lead referral business.

(Funny, I wrote an article predicting this back in February of 2015: https://realestategoodlife.com/it-starts-with-z-and-rhymes-with-pillow/)

Quicken Loans launches In-House real estate brokerage company, Rocket Homes.

Here are a couple interesting quotes from real estate agents on the Inman News website:

“Lesson here. An overwhelming endorsement for a standardized, formatted consumer real estate experience. The consumer of real estate services has proven a willingness to pay more for an experience that totally departs from what the current industry – including traditional brokerage companies like Coldwell, KW, C-21 – delivers today. Random real estate as delivered by 1.3 million independent agent Realtors is over. The sad thing is that those that are delivering this experience are still mostly in denial about this fact.”

“When you’re right, you’re right. Actually, when you’re on the end user’s side, you’re right. And that is what these tech companies are. Agents are middlemen, and it appears real estate is yet another in a long line of service industries that will soon demonstrate that everyone wins when you cut out the middleman and replace it with what I’ll just call “middletech” which is inherently more efficient, more accurate, reprogrammable, less costly. Humans resist change and wax sentimental in a way that technology doesn’t and therefore humans are easily replaced because their value is demonstrably less than the alternative. Now would be an excellent time for real estate agents to begin retraining programs for their next careers.”

Ok, so what do we do?

First thing’s first: We build a financial moat.

Details on exactly how to build a financial moat are located inside the Good Life member site.