Real Estate Technology
Historically the real estate industry has been a slow adopter of technology, but it depends heavily on which issue you are referring to. Real estate is highly localized, highly fragmented with strong differences between the various aspects (residential vs. commercial, buying vs. leasing, institutional vs. ‘mom & pop’ ownership).
You have to look at it from eyes of consumer, real estate is one of the oldest businesses and among the stodgiest to change, RE is not one to shift gears to technology easily. But things are changing.
There is no doubt that the residential real estate industry in the United States is incredibly inefficient. One economist calculated that it creates $8bn in “economic waste”.
(here is a recent article in The Economist that spells it out: )
So why hasn’t anyone Craigs Listed, or Amazon’d, or iTunes’d it?
It is not for lack of trying, but one economist’s “waste” is another industry’s profit. Since the residential real estate industry is specifically geared to generate that waste, it is no surprise that it is very good at protecting it, literally at the expense of buyers and sellers.
It is also an aging industry — the average age of agents and brokers ranges from mid to late 50’s. Plus, unlike news, classified ads, travel, or music which are consumed frequently by almost everyone, homeowners are a smaller subset of the population and they encounter the industry about once every 10 years. That fact alone will slow the pace of change.
The National Association of Realtors (NAR), MLSs, big brokers, franchises, and sites like Trulia and Zillow all have a vested interest in quantity over quality when it comes to real estate agents and the industry has captured its regulators at the state level.
That is why state standards are a joke and anyone with a pulse can pass the real estate licensing test. This leads to an agent over-population that is mostly older part-timers and that experiences a lot of churn — two factors that make it difficult for a technology driven solution to take hold on the ground at present.
Add up the billions NAR and the MLSs have on top of their ability to change the rules as they see fit (which they push until the DoJ steps in and they make some half-assed concessions) and it is apparent how they have been able to fend off any significant change to their business models.
The clock is ticking, though. This graying industry will either retire or die and in a few years almost all of its customers are going to be people who grew up with technology and know how to use it.
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I was laid off from my job and June and decided to go full-time into wholesaling and purchase InvestorCarrot even though my wholesaling business was in debt. I just closed two deals in the last two weeks and am closing on one this week.
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Still Have Questions Before Signing Up?
What happens after I join?
First you’ll enter a few simple things about your business so we can personalize your experience. Then launch and personalize your websites. Next pick your traffic plan and you’re off!
Does my plan include hosting?
Yes, all plans come with secure and fast hosting. That means you don’t have to worry about server security, backups, and all that tech stuff.
Is there a set-up fee?
Nope. Unlike other website service, there are no setup fees to get started. Just pick a plan and launch a site.
Can I move my current website to InvestorCarrot?
You can move your domain over to InvestorCarrot. Your site, will not come over but if there are certain things (like logo, testimonials, content, etc) you can upload them in your Carrot account.
Why would I need 3 websites?
Great question. Most investors will use one to target cash buyers and another site to target motivated sellers. That way the content and messaging on your site is targeted and gives value.
Does Carrot do the SEO for me?
When we set up your site we’ll ask you some questions that will help us do an initial search engine optimization jumpstart for your site. Often times this jumpstart helps our customers sites get ranked for popular searches in their local area within 2 weeks… but if you really want to get great results you should continue your SEO processes even after your site is set up.
What if I want to change the content?
We recommend you tweak the content to fit your business’s needs. If you want to edit something, feel free. We have plenty of tutorials showing you how to customize your website.
What happens if I want to cancel?
We would be bummed to see you go. But simply go into your account and request a cancellation…that’s it. If you are within 30 days we will honor our 30 day money back guarantee
Does Carrot provide phone support?
To keep our costs low (and pass the savings on to you) we have phone support on as needed basis. We try our best to respond to all emails within 24 hours. If you have something to discuss that cannot be done via email, just shoot us an email and request a phone call. We would be happy to set up a time to chat.
What makes InvestorCarrot better than other website builders?
Wow, this could get long. InvestorCarrot isn’t out to win design awards. We focus on data driven websites…which means we are constantly testing our websites to make sure they perform. For more information check out our Carrot Methodology.
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