Weekly Radar #365: How To Be Hunted By VCs, Turning The Paper Napkin Into A 747... Enter Advisory Circles, Proptech Index Down 2.91%
In this Weekly Radar, we cover:
- As a startup, how do you shift from hunter to the hunted when it comes to fundraising?
- Heather Harmon, who advises numerous real estate, mortgage, and construction tech startups, launched Peer Advisory Circles as group coaching program for early-stage proptech founders to avoid costly mistakes and accelerate growth.
- The GEM Proptech Index increased 2.91% from the previous week.
Geek Estate’s Proptech Getaway, an intimate (founders and C-suite) retreat for the brightest minds in proptech, is back for the 3rd year running…taking place in beautiful Central Oregon at Juniper Preserve April 28-30th, 2026. An exclusive gathering for GEM Diamond members. Are you coming?
Latest from Geek Estate Blog:
Geek Estate Team
Merrick Lackner
As always, links surrounded by the ❇️ emoji indicate exclusive GEM Diamond content. If you would like to have access to all links or attend our curated gatherings, please consider GEM Diamond membership.
Transmission Recap:
Most recently, we brought you GEM's latest Biz Intel: Proptech Earnings Radar for Q2 2025. Previously it was an AI week, with a two part Transmission. In Part I, Seth Siegler shared pros, cons, and use cases for a range of AI tools used across the eXp org. In Part II, Jered Dennis reflected on how he went from a non-coder to someone who can independently build a near-complete native mobile app.
BIZ INTEL
PROPTECH INDEX WEEKLY
By: Community Relations
Consisting of 25 stocks, the GEM Proptech Index had a combined market cap of $262.978B, a decrease of 2.91% from the previous week.
Despite no major company announcements, Offerpad shares soared 234% this week as retail investors rushed in, pushing the stock into meme-stock territory alongside rival Opendoor
GEM DIAMOND MEMBER NEWS
- Truelist came out of stealth. – Carey Armstrong
- Demi announced their newest partnership with 180 North LaSalle, a office tower in downtown Chicago. – Lily Wang
- Clear Capital collaborated with CAPE Analytics. – Kenon Chen, Amanda Governale, and Jeff Allen
- Acres.com announced the Acres Home Builder Index. – Carter Malloy
- New Estate Only announced their new President and Chief Growth Officer, Paulo Bethencourt Neto. – Christian Calusa
- Knock increased the limit on its bridge loans to $1M. – Jamie Glenn
- ENRG.realty expanded to Florida. – Rivers Pearce and Jeff Corbett
- NextHome collaborated with API Nation to transition its franchisees from DocuSign to SkySlope for transaction management. – Michael Davidovich
- Realtor.com announced its new CTO, Janakiraman Karthikeyan. – Anna Marie Castiglioni, Mausam Bhatt, and Andrew Mattie
- Listen to Mike DelPrete and Eric Bramlett have a deep dive on building the brokerage of the future.
- Summer announced its integration with Streamline VRS | Vacation Rental Software. – Paul Kromidas
- Dennis Steigerwalt was a guest on the Housing Insiders podcast with Jonathan Lawless and Jeremy Potter: Listen now.
STARTUPS
HOW TO BE HUNTED BY VCS
By: Drew Meyers
It's fundraising season. The great VCs are all searching for diamonds in the rough, not the stones laying on the beach already having been passed by hundreds of tourists. The true gems (see what I did there...) are deep underground, not in plain sight.
Per Hubert Thieblot on X:
VCs are hunters.
They find most deals outside the nest and love the chase.
If you cold email/DM, they’ll think something’s wrong, why would prey offer itself up?
Want funding fast? Be hunted.
Bonus: if more than one hunts you, they get even more excited.
Great metrics, an urgent problem, and a compelling personal story are tables takes to generating VC interest. How do you transform your company from hunter to the hunted? A few tips:
- Be one of the companies mentioned when VCs ask founders, consultants, other VCs, bankers, and friends "What companies are interesting to you right now?"
- Attend ❇️Blueprint❇️, as you've got to be in the room to open yourself up to serendipity. Almost every significant ❇️proptech VC❇️ will be there. Book meetings early, via a trusted referral. Attend as many happy hours as you can get into. Get up early, and stay up late...you can sleep when you get home.
- Personalize every VC message you write. Drip campaigns aren't going to work.
- Write regular founder updates to keep those in your orbit abreast of what you're accomplishing.
- To get on the radar of a specific VC firm, get on the radar of the founders in their portfolio. Those are the best people to refer you. Attending ❇️one or multiple GEM dinners❇️ is of course one way to build founder relationships in this industry. Or ❇️a Peer Circle❇️ to go deeper with a core group of 6-8.
- To help identify VC porfolio founders, GEM created badges for portfolio founders in ❇️YC❇️, ❇️SCV/REACH❇️, ❇️Metaprop❇️, and ❇️Fifth Wall❇️. We don't have every venture firm covered, but you can also look this up on the VC's website or Crunchbase (if you're a VC in GEM that wants a badge for your portfolio, ask us).
- Mainstream media mentions can never hurt, but even better is to be mentioned in niche newsletters the VCs you're targeting actually read consistently.
- Close partnerships or customer contracts with companies VCs are familiar with.
- Increase your ARR/MRR as much as possible.
If all of that works, and you actually get the meeting, have great answers to ❇️all these questions❇️...and more. Know your numbers cold. And, install a sense of urgency. Convince them the train is leaving the station, with or without them.
Happy hunting season.
Have other tips? Please leave them in the comments.
TURNING THE PAPER NAPKIN INTO A 747...ENTER ADVISORY CIRCLES
By: Drew Meyers
Let’s be honest: entrepreneurship is mostly building the plane while it’s taking off, praying your parachute is more than a napkin with “𝘜𝘱-𝘢𝘯𝘥-𝘵𝘰-𝘵𝘩𝘦-𝘳𝘪𝘨𝘩𝘵” scribbled on it. – Heather Harmon
It's with that line of thinking that Heather Harmon announced a new program for 0-1 founders: Peer Advisory Circles: an open, energizing, and nonjudgmental space where each member will be deeply supported in everything that goes into the founder journey, both the strategic and the emotional.
For those who don't know Heather, she's spent 30+ years in the industry on all sides and as a leader or founder. Her last company (RedDoor) was acquired by Opendoor, where she ran the technical integration, the broker and legal relations, and the mortgage division. Since then, has advised and consulted hundreds of companies in real estate, mortgage, and construction technology companies. Also the operating partner and advisor in two VC’s, and the co-owner of yoga studios in Northern California where she lives.
What's the offering?
• A facilitated peer advisory group for early stage founders (limited to 8)
• Plus a monthly 1-1 with me
• 1st Circle is just for 0-1 proptech founders with 0 - $100K ARR
• *** no competitors will be in the same group***
In a space of committed confidentiality, we will discuss the hard stuff, create a safe sacred space to share what no one else understands, and build connections that transform all areas of your life.
What the focus?
This group will help you navigate the complex terrain of growing, facilitating, and optimizing your company, as well as the messy human experience of leading and growing companies in a complicated industry, navigating interpersonal dynamics, and exploring inner patterns and stories that can create blocks in clarity and confidence.
Examples of strategic “outer game” topics that may be covered in a circle:Co-founder relationshipsCapital raising fundamentalsGo to market and growth strategyProduct fit, positioning, and alignmentLeadership, talent recruitment, and empowered cultureOperations, systems, and scalePrioritization and vision alignmentImpactful communication
Examples of reflective “inner game” topics that may be covered in a circle:Belief and capacity (aka imposter syndrome)Fears of failingUpper limits limitationsNavigating overwhelm and burnoutBuilding healthy habits and ritualsLeaning into the power of trust - for yourself and your teamClarity on your own personal “why”
Cost: $500 per month, with a 6 month commitment ($3k total).
**Special pricing for GEM Diamond members: 1 month free!
Heather's right...“You can’t afford not to,” as the cost of avoidable mistakes—especially for founders—can be tens of millions over a career.
Look, we all know the chance that we're going to crash before we can build the plane is high. As a founder, anything you can do to not have to rely on a napkin to break your fall (SURE to break) but instead a hang glider--or, ideally, a 747--is a no-brainer. If you believe that, the value proposition is clear. And there's no one better than Heather Harmon to learn from.
All the details are on this Notion page.
One final note. I view this as an enhanced version of ❇️GEM Peer Circles❇️ ($1k per 6 months of facilitation). How is this different than the Peer Circles program?
- One on one time with Heather included.
- An advisory circle will lean into group coaching, rather than a pure focus on unlocking peer knowledge among each other.
If you're interest in learning more about Advisory Circles, reach out to Heather Harmon...or fill out the application.