Weekly Radar #297: Futurizing With Geek Estate 4.0, HSA Agrees To A Cool Quarter B, The Struggle Is Real, Completing A Courtship Of The 3D World

Weekly Radar #297: Futurizing With Geek Estate 4.0, HSA Agrees To A Cool Quarter B, The Struggle Is Real, Completing A Courtship Of The 3D World

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

  • Our team has launched Geek Estate 4.0. - our brand-new marketing site!
  • Drew covers the recent HomeServices of America settlement, and comes to the conclusion that the lawyers have won.
  • The Foundation for Innovation in Real Estate is sponsoring 3 hours of mental health support time for tech founders in need.
  • Matterport has been acquired by CoStar at a valuation of $2.1 billion.
  • The GEM Proptech Index had a combined market cap of $245.929B, a 5.52% increase from the previous week. 

Geek Estate Blog Recap:

Member Engagement Tools for MLS and Realtor Associations
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of GEM Diamond. Today’s showcase: Solid Earth] Creating technology solutions for MLSs and Realtor Associations, Solid Earth launched the first web-based MLS platform, List It, in 1999. Since launching the Spring website platform…
Meet the Real Estate Tech Founder: Istvan Fehervari for Homebourse
In our latest real estate tech entrepreneur interview, we’re speaking with Istvan Fehervari from Homebourse. Without further ado... Who are you and what do you do? My name is Istvan Fehervari, and I’m the Founder & CEO of Homebourse, the New Construction Hub. I am…
Proptech Job Opportunity: Product Manager at Avail
We have a job opportunity to share from a member of GEM Diamond, Avail ( a Realtor.com company), a tools and guidance provider for landlords. Role Description: As Product Manager within Avail , you’ll join a Product Development team composed of Product Managers, Engineers, Designers,…
Agent Driven Clarity with Deal Terms and Instant Offer Updates
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of GEM Diamond. Today’s showcase: Final Offer] Final Offer is a customer-facing and agent-driven platform for negotiating home sales that delivers clear, real-time offer alerts for buyers and sellers. It is designed to…
2024 REACH Cohort Announced
Geek Estate is about celebrating entrepreneurship, focused on real estate tech (residential and commercial). The REACH program, backed by the National Association of Realtors and Second Century Ventures, is a big part of the broader ecosystem. This week, they announced their 2024 US Resi Cohort.…

Transmission Recap:

Drew covers how new technological shifts with AI and innovations will impact real estate in the coming decade. Before that, Dennis Steigerwalt dove into a few technologies that help real estate developers maximize water efficiency and minimize waste.


By: Drew Meyers

2,144 days after Geek Estate's 3.0 faceliftGeek Estate 4.0 is here. The modern design and future-looking visuals on GeekEstate.com aim to better showcase the full GEM experience. 

Special thanks to ❇️Darian Woolley❇️ for project managing the initiative, Jeff Ognita for design work, plus to ❇️Dustin DeVries❇️ and his team at Caffeine Interactive to coding/deploying the final designs.

A few goals impacting the redesign strategy:

  • Highlight the GEM Crystal newsletter, which was nowhere to be seen on the prior home page focused exclusively on GEM (Diamond).
  • Make Geek Estate the parent brand, and GEM Diamond a sub landing page rather than the top level home page.
  • Modernize the overall design and branding, using new Diamond and Crystal logos.
  • Update visuals with a lens to associate Geek Estate's brand with the future of real estate and the broader Built World.
  • Provide clear feature differentiation between Crystal and Diamond.
  • More testimonials. Thank you ❇️Clelia PetersNate SmoyerTed AdlerYork BaurMike ChangBryan CopleyAnthony Romano, and Dave Garland❇️. If you'd like to provide one, please send it to ❇️Ben Godfrey❇️ (ben at geekestate dot com). 

Have a look at the Geek Estate home page...

...and, the revamped GEM Diamond landing page...

Would love to hear whether the website gives an accurate first impression for what you know that we provide in the way of overall value, analysis, and networking to the membership base. Any feedback or suggested improvements would be welcome.

My personal ask: GEM is primarily driven by referrals, you can enable us to invest more in the membership experience by helping us grow. Please send the website on to a fellow founder or executive who you believe will value the community.


By: Drew Meyers 

Image generator: DALL-EPrompt: show 1/4 of a billion dollars going down the drain

The remaining named defendant from the ❇️Sitzer/Burnett case❇️, HomeServices of America, has agreed to a settlement which will require they "pay $250 million and enact changes to its business practices as part of an agreement to settle lawsuits that posed an ongoing threat to the firm," according to Inman. The deal will protect "nearly 70,000 agents, 51 brands, and over 300 franchises..."

I have to call this quote by Robert A. Braun, a partner at the law firm Cohen Milstein Sellers & Toll (represented plaintiffs in the Moehrl case):

These settlements will return hundreds of millions of dollars to home sellers and empower both sellers and buyers in the real estate negotiation process. This is one of the most important transactions in a person’s lifetime. Confidence in the process is critical.

Give me a f'ing break...if sellers are actually receiving millions of dollars, I will be shocked beyond belief. Sorry, a few million bucks spread out over tens of thousands of sellers doesn't pass the test. The lawyers win this, plain and simple. Someone prove me wrong, and I'll rescind my statement.

❇️Compass was the latest settlement we covered❇️, but Real Brokerage has since agreed to a $9.25 million settle. Bottom line...the brokerages on the $2B in sales volume list have their hands full navigating settlements. If you're a startup with ambitions of selling products or services to that crowd, you'd be wise to invest your time and energy elsewhere until the storm passes.


By: Drew Meyers

Image generator: DALL-EPrompt: show me a picture of mental health support, in front of commercial real estate buildings

From financial strain to self-doubt to isolation to perfectionism, there are a range of struggles every founder faces. If you tell me you have all your sh*t figured out, you're lying. 

One of the best remedies is to vocalize your feelings. There is some level of therapy that takes place in GEM Diamond at dinners/retreats...given its composition of folks on similar founder journeys going through many of the same things. Talking to professional is also recommended. On that side, the Foundation for Innovation in Real Estate is helping in a cool way: sponsoring mental health hours with specialists. FIRE will cover three hours (aka the Minimum Effective Dose) with one of their partner mental health coaches who understands the tech founder persona. The whole thing is 99% anonymous. Learn more and sign up here.

Questions? Reach out to ❇️Matt Knight❇️. 

By: Drew Meyers

Image generator: DALL-EPrompt: show 3d buildings and houses with a spaceship over it. similar to independence day movie

Matterport has been acquired by CoStar Group, according to Inman. The deal valued Matterport at $2.1 billion (enterprise value of $1.6B). "Stockholders will receive $2.75 in cash and $2.75 in shares of CoStar Group stock."

Bringing in troves of unique data and imagery about homes and buildings is obviously a big win for CoStar in its chess match with Zillow. That said, I don't think this deal will surprise anyone; chalk this up as ❇️a prediction win❇️ for ❇️Matt Michalski❇️. The $2.1 billion valuation is a 4x premium over ❇️Matterport's market cap of $541M end of day Friday❇️.


Proptech Index Update

Consisting of 30 stocks, the GEM Proptech Index had a combined market cap of $245.929B, a 5.52% increase from the previous week.