KW Tech Labs Notes 6/26/18

Keller Williams, Technology

The following are my notes from my time at the KW Tech Labs.

If you’re not familiar with what KW is building, you can learn more here. Essentially, they are building the Netflix/Salesforce/Siri of real estate.

Disclaimer: these are my own views and notes. These are SOLELY my views/opinions, are not verbatim or to be represented as KW’s or any one person’s mentioned in this document.

The real estate industry is under siege.

In the heartland of tech based companies, it’s less commissions.

That’s coming to everyone’s front door.

First — That’s the figuring out HOW to disrupt phase.

Second — Then, everything starts to click, the players start to emerge.

Third — the dominant players come out.

“Tech” — they are all agent facing.

They aren’t consumer-focused.

If you let anyone get between you and the consumer, you lose. – Gary Keller

Agent > Tech Enabled Agent > Agent Enabled Tech > Tech Only

  • “Agent” already happened
  • “Tech Only” isn’t going to happen

Hardware > Software > Cloud

All of these are now a commodity

You can go get a “cloud” for a $1,000 — it doesn’t really mean much to just have a Cloud.

The next evolution will be Artificial Intelligence, Machine Learning, etc…….

4th Industrial Revolution

 

 

 

 

 

 

 

 

In the book “What to Do When Machines do Everything” they make it very clear – Beware the Sleeping Giant

Startups vs. Legacy: Who will win the War?

Startups

  1. have money, they have the A.I., they don’t have the Data
  2. They don’t have any way to collect or distribute Data

Legacy Brands

  1. They have the customer
  2. They have the path to the customer
  3. Most don’t have the willingness to blow it up

At the end of the day, one is going to take over the other.

How valuable is IBM compared to Microsoft?

Microsoft overtook IBM because IBM wasn’t willing to pivot and acknowledge software.

Agent Enabled Tech.

  • Realtor.com
  • Zillow
  • Trulia
  • RedFin
  • OfferPad
  • OpenDoor
  • PurpleBricks
  • …and who else??

What are we doing from a technology standpoint to have a 1:1 relationship?

How is the agent going to stay the fiduciary in the transaction?

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