February 26


The Real Estate Industry Needs Revitalization – Hackathon?

By Walt

February 26, 2021

Real Estate

We all have friends in the real estate industry. As an observer of innovation in technology and business models, I (this is Tad Haas typing) have been worried about them for some time. Most notable because of the Zillow and Redfins of the world, but also people in construction. Demand is so high now, but what happens when that changes? Clearly in the SnoValley and greater Seattle area there is plenty of "real estate crazy" going on, but what does the mid and long-term look like for brokers, owners, builders and the people related to this everywhere business?

This article exposes some of the raw concerns and suggests that a Hackathons is one good way to consider starting the innovation process. I agree.  But more importantly this article points out three key considerations, regardless of your industry:

1. What is every business doing to think outside of today's market reality? Are you looking out for what's coming, preparing for it or potentially creating the next disruption?

2. How are your crowd sourcing ideas?  Learning from others?

3. Are you setting aside time & budget to experiment? Push boundaries?

Chris Porteus

-Growth Marketer-

Innovation is at the heart of all modern industries. Those who cannot innovate usually fade into antiquity. Fortune noted that the global real estate market in 2016 was worth in the neighborhood of $217 trillion, a sum that is much larger today. Yet despite this massive footprint, real estate is facing a crisis that it needs to overcome. Most modern successful startups have come from technological innovation leading to disruptive practices. Popular companies like Airbnb and Uber have revolutionized their respective industries and made the big firms think about how they do business. Strangely enough, there doesn't seem to be an equivalent for the real estate industry.

Most of us didn't really see a pandemic coming, but it clearly had significant impact on many businesses in the Valley. Are you carving out just a little bit of time in your over busy day to consider what's next? How can you consider approaching challenges differently? Each business large or small is on a journey and now more than ever things are not likely to stay the same for long.

- Tad Haas 2/26/21

About the author

I love helping businesses get started or improving their processes. My business is focusing on the raw data that businesses generate & making sense of all of it. I live statistics and optimizing business workflows.

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