Just wanted to make a quick personal announcement coupled to a shameless plug. I have decided to take on a great little company as a 7DS Incubator client, but go well beyond the norm for such an engagement, because I believe this company has the potential to bring about real change to the industry. When I wrote that we will see no exciting new technology in 2011, I had to leave these guys out because of my relationship with them. Well, I can now say that this company will bring some exciting new things to the real estate industry, in 2011, and I am going to help them do it.
The company is National Buyer Listing Service, or NationalBLS. The founder and CEO, Duncan Logan, is one of the smartest guys in the business who few people know well. Hopefully, that will change soon. And as of this morning, I am the interim President & COO of NationalBLS, on a part-time basis.
What is NationalBLS? Well, the current company info says this:
NationalBLS is the first national database of prospective residential real estate buyers. We allow buyers to input their requirements for a home and anonymously broadcast those requirements to the web. Sellers in the market, or those thinking about entering the market, can find active able buyers and approach them privately through our system. We promote the use of real estate agents and brokers but also enable sellers to transact on their own. Our primary focus is to create a central marketplace to increase liquidity in the residential real estate market for everyone’s benefit. We intend to achieve this by partnering with all market participants.
Online real estate has always been property-centric: listings, listings, property info, public data, and more listings. Or, with the rise of social media, online real estate has incorporated marketing and promotion of real estate agents and brokers, as well as brands. The enormous missing piece has always been buyer demand. It takes two sides to complete a transaction, but as an industry, we have near-zero insight into what it is that the buyer wants until well after the fact, through the actual closed price transaction.
I believe that NationalBLS is a potentially transformative technology. I believe that its products and services can be modified to fit in neatly to how the industry works, and should work. And I can’t tell you how excited I am to be helping a brilliant entrepreneur like Duncan with achieving his vision in a hands-on, more-than-advice, way.
I will still be working through 7DS Associates for my consulting clients. There may be some clients I cannot take on, and some issues I cannot work on, due to my role at NationalBLS raising conflict issues, but as of now, I am confident that no conflicts exist.
I wish I could tell you all more, but there will be plenty of time for that sort of thing. But it’s some pretty exciting stuff.
Thanks, and definitely, more later.