Weekly Radar #289: A Resi Roll-Up, Contech Powder

Weekly Radar #289: A Resi Roll-Up, Contech Powder
Image generator: DALL-E Prompt: Show a construction site for an office building with dollar bills exploding out of the floor

What's covered in this week's GEM Crystal Weekly Radar:

  • Will the future of real estate PropTech adoption be driven by agents? Logan analyzes Opendoor's latest partnership with real estate agency eXp Realty.
  • Zacua Ventures just raised $56M for a new fund, specifically targeting contech startups.

Geek Estate Blog Recap:

A Comprehensive Outlook on Real Estate Challenges and Trends in 2024 with Michael Lucarelli
The real estate market is in a state of flux. Lawsuits, record property prices, high mortgage rates, an affordability crisis. RentSpree CEO and Co-Founder Michael Lucarelli is providing his take on the state of the market and what the rest of this year might hold.…
Meet the 2024 Ivory Prize Top 25
An applied academic institution at the University of Utah’s David Eccles School of Business, Ivory Innovations is dedicated to supporting innovative solutions in housing affordability. They recently announced the Top 25 Finalists for the 2024 Ivory Prize for Housing Affordability. These finalists will join the…
Meet the Real Estate Tech Founder: Luca Dahlhausen from Realfinity
In our latest real estate tech entrepreneur interview, we’re speaking with Luca Dahlhausen from Realfinity. Without further ado... Who are you and what do you do? My name is Luca Dahlhausen. I am 26 years old and originally from Germany, now making my mark in…
The Rise of Climate Tech and NYC’s Developing Climate Hubs
[Adapted from The Rise of Climate Tech and NYC’s Developing Climate Hubs from Proptech Consulting LLC] New York City is the nation’s epicenter for the financial, real estate, and media industries. In recent years, climate technology has also become a growing new sector for which…
Proptech Job Opportunity: Growth Product Manager at Apartment List
We have a job opportunity to share from a member of GEM Diamond, Apartment List, a rental platform for apartments. Role Description Apartment List is seeking a Growth Product Manager who will be responsible for leading their digital marketing strategies across email, SMS, and push…
Would This “Perfect Tax” Really Solve Our Housing Crisis?
[Editor’s Note: This post originally appeared on the Ivory Innovations website.] Lauded by many economists as an idea that could “fix just about everything”, the land value tax is gaining traction in the U.S. While it has recently garnered national attention, the land value tax is…

Transmission Recap:

In our last Transmission, Drew delved into the long and short of Zillbnb - what Zillow's announcement means for the future of short and long-term rentals. Before that, Drew discussed the Rabbit's 'r1', a compact AI device, as a glimpse into the future of blended hardware and AI...or perhaps just another fad the smart phone makes irrelevant.



By: Logan Nagel

Image created by: MidjourneyDescription: Robot holding keys to a house

iBuyer Opendoor recently announced a partnership with real estate agency eXp Realty, not unlike ❇️the Keller Williams-Offerpad deal a few years ago❇️. Under the partnership, Opendoor will be the main provider for eXp’s all-cash offering ExpressOffers. iBuyers have faced challenges, including market headwinds and problems establishing a strong algorithm over the pandemic. Opendoor itself last year cut 550 jobs. Presenting its instant cash offers alongside the traditional listing process creates economies of scale by leveraging agents with existing trusted relationships.

This is a proof point that the future of residential PropTech adoption still resides in the hands of agents. PropTech firms with a nationwide footprint can go direct to brokerages/franchises, and MLSs, but that’s not a luxury afforded most early stage companies with limited service areas. As we ❇️move toward agents as wealth advisors❇️, it’s likely a few vertically integrated platforms that offer services from home purchase to disposition and everything in between will sprout. For instance, EasyKnock, a tech-enabled home sale-leaseback provider, recently completed a $28 million Series D round after having gone on a buying spree that included home maintenance, power buying, and co-ownership platforms. Residential-focused companies should keep this growing centralization in mind as they plan their expansion. Does your product truly warrant funding customer acquisition, or will it wind up eaten by a do-it-all tech provider? Partner now, or forever hold your peace.