{"id":5983,"date":"2008-12-07T21:30:45","date_gmt":"2008-12-08T04:30:45","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5983"},"modified":"2008-12-07T21:30:45","modified_gmt":"2008-12-08T04:30:45","slug":"death-taxes-and-real-estate-30","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5983\/death-taxes-and-real-estate-30\/","title":{"rendered":"Death, Taxes and Real Estate 3.0"},"content":{"rendered":"

What do death, taxes and real estate all have in common?<\/p>\n

Technology.<\/p>\n

I’ve blogged on several occasions about Real Estate Web 2.0 and my belief that in the myriad of solutions that have been developed, deployed and adopted, there has yet to be a “real estate agent killer” app.<\/p>\n

Not long ago, innovators wanted to develop technology solutions that unleashed the knowledge within the MLS – that is where the perceived value of the real estate transaction was hidden.\u00a0 Enhanced property search and data analytics was the way to break the current commission based business model, drive down the cost of the transaction and essentially eliminate the middleman – the agent and\/or broker.<\/p>\n

I was often confused when I read comparisons between the real estate industry and the travel industry.\u00a0 Again, technology innovators wanted to do to the real estate business what Expedia, Orbitz or Hotwire have done to the travel industry – put the consumer in the driver’s seat and eliminate the middleman – the travel agent.<\/p>\n

Not to belittle the travel agent, but clearly much has been learned about the real estate transaction process to determine that real estate is not like the travel industry.\u00a0 Unlocking the MLS and aggregating data alone does not address the complexity of the real estate transaction, nor does enhanced search engines that exploit mapping technologies.<\/p>\n

Real estate is a knowledge-based business.\u00a0 In creating true innovation, my question is why aren’t technology innovators drawing parallels to other professions that are knowledge-based?\u00a0\u00a0\u00a0 I can’t help to think that there can be a significant disconnect between our current business model, i.e our compensation, and the knowledge and expertise that experienced agents have developed over time.<\/p>\n

To better understand the disconnect is to understand how the Pareto principle applies to a real estate transaction.\u00a0 Could a knowledge management solution address 80% of the process-related issues to buying and selling real estate, leaving the 20% of the really tough, unexpected issues and problems to be addressed and managed by a licensed real estate professional?<\/p>\n

I have my business degree in accounting – I never practiced accounting, however, when it comes to tax time, I feel obligated Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What do death, taxes and real estate all have in common? Technology. I’ve blogged on several occasions about Real Estate Web 2.0 and my belief that in the myriad of solutions that have been developed, deployed and adopted, there has yet to be a “real estate agent killer” app. Not long ago, innovators wanted to […]<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,5,19],"tags":[],"class_list":{"0":"post-5983","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-real-estate","8":"category-technology","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5709,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5709\/rethinking-real-estate-web-20\/","url_meta":{"origin":5983,"position":0},"title":"Rethinking Real Estate Web 2.0","author":"Thomas Hall","date":"November 20, 2008","format":false,"excerpt":"What do consumers want? I believe this question has been asked ten times to Sunday as it relates to real estate. I recently read Marc Davison's recent blog post at 1000Watt Blog summarizing the results of that exact question, What do Consumers Want?.\u00a0 The report, commissioned by Keller Williams, was\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2952,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2952\/what-would-you-do\/","url_meta":{"origin":5983,"position":1},"title":"What Would You Do?","author":"Barry Cunningham","date":"April 12, 2008","format":false,"excerpt":"Here's the scenario. A consumer calls you based upon a blog post that you have recently made. He is in dire NEED of the services of a competent and professional real estate agent. He must sell his house quickly. He is in foreclosure and he does not want his credit\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"Real Estate Radio USA | What Would A Real Estate Agent Do to Help A Homeowner In A Foreclosure Mess?","src":"https:\/\/i0.wp.com\/www.realestateradiousa.com\/blog\/wp-content\/uploads\/2008\/04\/whatdo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":286,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/286\/working-the-numbers-on-real-estate-business-models\/","url_meta":{"origin":5983,"position":2},"title":"Working the numbers on real estate business models . . .","author":"Greg Swann","date":"September 4, 2006","format":false,"excerpt":"Altos Research on Redfin.com and other real estate business models:Sales guru Jeffery Gitomer puts it this way, \"if you have to compete on price, You Suck!\" We all invoke financial services as the analog for real estate. What isn't commonly noted is that as technology swept through the financial services\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12486,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12486\/real-estate-declaration-of-independence\/","url_meta":{"origin":5983,"position":3},"title":"Real Estate Declaration of Independence","author":"Al Lorenz","date":"June 29, 2010","format":false,"excerpt":"I've been a bit quiet on BHB due to some personal issues I've been working through.\u00a0 But, I was very happy to see Greg's latest post on challenging everything!\u00a0 I had a little holiday brainstorm today and wrote a post on my local Lake Chelan blog on a Real Estate\u2026","rel":"","context":"In "Carnival of Real Estate"","block_context":{"text":"Carnival of Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/carnival-of-real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2179,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2179\/a-consumers-guide-to-the-divorced-real-estate-commission-why-buyers-and-sellers-each-paying-for-their-own-representation-is-the-most-significant-reform-that-can-be-made-today-in-residential-real-estat\/","url_meta":{"origin":5983,"position":4},"title":"A consumer’s guide to the divorced real estate commission: Why buyers and sellers each paying for their own representation is the most significant reform that can be made today in residential real estate","author":"Greg Swann","date":"November 7, 2007","format":false,"excerpt":"Part I: How we got into this mess in the first place Can we be straight with each other? I'm not a soft and subtle kind of guy, and my working assumption is that you are sick to death of being hustled -- handled -- lied to. We yammer all\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2208,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2208\/a-consumers-guide-to-the-divorced-real-estate-commission-undermining-the-arguments-in-support-of-the-status-quo\/","url_meta":{"origin":5983,"position":5},"title":"A consumer’s guide to the divorced real estate commission: Undermining the arguments in support of the status quo","author":"Greg Swann","date":"November 11, 2007","format":false,"excerpt":"Part V: Why arguments for the current method of compensating real estate agents and against divorcing the real estate commissions must fail As I write this, the National Association of Realtors is preparing for its annual convention, to be held this year in America's playground, Las Vegas, Nevada. 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