Weekly Radar #344: Hatching a Legislative Proptech Success, The 21-5 Model, Proptech Index Down 2.68%, The Straw That Breaks The Camels Back
In this Weekly Radar, we cover:
- Realogics Sotheby’s International Realty and Realtie see House Bill 1110 as a marketing and product validation opportunity, though skepticism remains about whether Realtie is a true proptech or a brokerage marketing program—especially compared to peers like CityBldr and Prophetic.
- Investor David Cummings emphasizes the value of regular founder updates for due diligence.
- OpenAI's new 4o image rendering could be a disruptive force that threatens niche real estate visualization startups, pressuting them to rethink their competitive viability.
- The NAR's new delayed marketing policy may empower big brokerages like Compass to build their own MLS-like networks, while Zillow could finally become a full brokerage—potentially collapsing the traditional IDX ecosystem.
- Denmark-based 21-5 offers a compelling co-ownership vacation home model that has quietly scaled in Europe and is now being eyed as inspiration for future proptech collectives.
- The GEM Proptech Index decreased 2.68% from the previous week.
As always, links surrounded by the ❇️ emoji indicate exclusive GEM Diamond content. If you would like to have access to all links, please consider GEM Diamond membership.
PS: We have a few spots left at the upcoming GEM Proptech Getaway in beautiful Central Oregon from April 1st-3rd. Reach out if you're interested.
Latest from Geek Estate Blog:
Geek Estate Team
Nathan Miller
Drew Meyers
Greg Fischer
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Geek Estate Team
Transmission Recap:
Most recently, Drew explored whether the next major MLS tech disruption isn’t a desktop/mobile experience, but one that eliminates the need for a traditional interface at all. Before that, Drew examined how Real Brokerage is using banking and rewards to transform into a financial services company.
BIZ INTEL
PROPTECH INDEX WEEKLY
By: Community Relations
Consisting of 28 stocks, the GEM Proptech Index had a combined market cap of $234.3B, a decrease of 2.68% from the previous week.
STARTUPS
HATCHING A LEGISLATIVE PROPTECH SUCCESS
By: Logan Nagel
In 2023, House Bill 1110 (HB1110) was passed in Washington State to require municipalities of sufficient size to permit housing development of up to six units on parcels previously zoned single-family. With a tiered calendar of deadlines based on city size, compliance needs are fast approaching—Seattle must comply with the new zoning requirements by June 30, 2025. Aiming to capitalize on this, Seattle-based brokerage Realogics Sotheby’s International Realty partnered with Realtie to use AI predictive analytics to identify properties and owners well-positioned to take advantage of HB1110’s opportunity. The collaboration includes a property-matching component for developers and brokers as well as pro forma modeling and site plan testing features for developers.
