Weekly Radar #357: Compass Goes Legal (again), Opendoor pivots to lead gen, metaprop pitches, Proptech Index Up 2.19%
In this Weekly Radar, we cover:
- Compass is up to its not fun legal antics once again, suing Zillow "over new rules that ban privately marketed listings from the platform.
- Opendoor launched a Key Connections program to connects partner real estate agents with high-intent sellers...the agent disruptor graveyard just grew by one, and the "iBuyer" sector is all but gone. (or is it? More on this to come..)
- metaprop hosted their 2025 Demo Day in NYC, and videos of all six pitches are available. Especially for those founders preparing for upcoming pitch competitions, they are well worth watching.
- The GEM Proptech Index increased 2.19% from the previous week.
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Latest from Geek Estate Blog:
Nathan Miller
Geek Estate Team
Geek Estate Team
Transmission Recap:
Last week in a Camino-inspired transmission blending both humans and machines (ChatGPT), Drew Meyers imagines how GEM might have begun had the “secret real estate tech society” (as some call it) been hatched hundreds of years ago, rather than in 2017 (This is fiction). Before that, Zillow, Rocket + Redfin, and Movoto + Lower are all chasing the same prize: owning the entire consumer journey. As a consumer, Drew Meyers is left wondering: What does that even mean?
BIZ INTEL
PROPTECH INDEX WEEKLY
By: Community Relations
Consisting of 27 stocks, the GEM Proptech Index had a combined market cap of $245.595B, an increase of 2.19% from the previous week.
Shares of Sonder surged 37.58% this week as a new chapter begins for the company, marked by the completion of its partnership with Marriott and the announcement of CEO and Co-Founder Francis Davidson stepping down, with board member Janice Sears stepping in as interim CEO.
GEM DIAMOND MEMBER NEWS
- Greg Fischer has a new role as Head of Growth at RetroRate.
- Niles Lichtenstein from Nestment won the Audience Award at Pitchfest, and Maor Greenberg from Spacial took home the Home Technology Ventures $100k investment. -- Dennis Steigerwalt
- Jesse Garcia launched the Strategic Edge newsletter on growth, operations, and leadership in tech and real estate. Subscribe.
- Tether RE announced partnerships with on-demand showing platform Showami as well as the St. Louis Realtors. – Scott Martin
REAL ESTATE
INEVITABILITY STRIKES
By: Drew Meyers
On the verge of delisting from the NASDAQ, Opendoor launched a Key Connections program that "connects partner real estate agents with high-intent sellers in their market who want to explore their options," according to Inman. The program is has already been piloted in 11 markets, and is now being rolled out more broadly.
The real estate disruptor pivoting to selling/monetizing leads by connecting them with full-service agents. We've seen that playbook before. It's almost as if, you know, buyers and sellers want a real physical person to help them. It's almost as if buyers don't desire to spend a million dollars on a whim with the help of an AI bot. It's almost as if selling a house and ordering an Uber rely on different consumer behavior. It's almost as if reaching consumers is massively expensive. And it's almost as if a business has to earn more than it spends. The agent disruptor graveyard just grew by one, and the "iBuyer" sector is all but gone. (or is it? More on this to come..)
You know what would be funny?