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03 Apr 2017

An Email to a CREtech Evangelist

This is a an email, lightly edited, I sent to Duke Long, a CREtech Evangelist. If you are interested in commercial real estate tech, I encourage you to subscribe to his weekly newsletter if you don't...

This is a an email, lightly edited, I sent to Duke Long, a CREtech Evangelist. If you are interested in commercial real estate tech, I encourage you to subscribe to his weekly newsletter if you don't already. It is informative and entertaining. I met Duke last March at Disrupt/CRE in New York. He said to stay in touch, and in his newsletter, he encourages entrepreneurs to pitch him. He's and Android user, so until we had the live beta, he would not be able to test the app. I wrote and sent it on New Year's Eve morning, perhaps not the best day to make a pitch (or not even the best pitch), but, I figured there probably wouldn't be a lot of others  that day. I have not heard back from Duke yet.
Yeah, I’m writing this on New Year’s Eve morning.
We now have a live beta of QuantumListing app up on the Google Play store, and I’ve set up a Premium Membership account for you. You can download the app by clicking HERE. After you download the app, you can log in with your  email address, and Password: (EXPURGATED).
QuantumListing is a crowd-sourced, mobile first commercial real estate listing app. You can view, search, post and share listings from your phone or tablet. Any user can download the app for free, search every listing anywhere in the country for free, and contact the listing agent or owner easily with one touch buttons conveniently placed at the top of the listing. Premium members can post an unlimited number of listings, and share them via email, text, and to social networks such as LinkedIn, Twitter and Facebook. As we ramp up the user and listing base, we’re giving away Premium Membership, but the initial pricing structure once we require payment for the Premium level is $9.99 for a month, $24.99 for 3 months, and $79.99 for a year.
The iOS version was rolled out in August, and as a couple of days ago, have a live beta of the Android version available on the Google Play store. Once I am satisfied with the Android version, we’ll work on a web portal as well.
Because QL was conceived as an app first, it was designed to take advantage of your smartphone’s features. Listings are visually oriented. You can use photos you shoot there and then or photos from an album as the centerpiece of the listing. Additionally, you can import PDFs into the app to use as the central image instead, which is what most of the listings are now. Your contact info is automatically added to each listing from your profile, and the only other required data you need to input are a title for the listing, the address, asset class (from a drop down menu) and whether it is for lease or sale (also a drop down menu). There are other data fields you can add which make the listing more searchable, but these are optional. The result is that is very fast and easy to add your listings. You can do it from anywhere since you are doing it from your phone or tablet. Since most of the salient information is on your listing PDF, we don’t see the necessity of having to add that information a second time into data fields. As I’m sure you know from your brokerage experience, most data on listing websites is stale. If you don’t call the agent before you share the info with your customer, you are going to be giving them bad data. This is why we made it super easy for users to contact the agents with the buttons at the top of the listing.
Here are a just a few use cases for why every broker should have QuantumListing on their device:
1. You are in front of a building, you want to know something about it. You open QuantumListing and see a blinking dot on top of the logo indicating that the building info is available. You tap your screen a couple of times, and you’re seeing what’s available on their flyer and calling the agent to confirm that is still correct.
2. You just finished a showing and like the professional you are, you’ve handed out a flyer with the listing info to the customer. She says, “can you email it to me? I want to send it to the team.” You open the app, tap the screen a few times and off it goes. You don’t have to dig through 50 folders on DropBox, you don’t have to call an admin back at the office and hope they are still there and pick up. You did it, and can now head off into the sunset for some brown liquor.
3. You have a LinkedIn account, a Twitter account, maybe even a Facebook account for your business. You don’t have a clue how to get your listings into your social media accounts. You open up QuantumListing, tap the screen a few times, and all of your followers have now been updated and you can go back to watching the football game.
4. You are a troglodyte and don’t have any social media. That’s ok, we’re broadcasting them to our feeds.
LoopNet does have about a 20 year head start and a few million users. We don’t. We’re a scrappy underdog. Both LoopNet and QuantumListing are crowdsourced, although at this point, there is probably a two way flow with LoopNet’s big brother, CoStar. With LoopNet, though, not all listings are available to all users for free, and users pay a premium to list more than a few listings. Every listing on QL is available without a paywall. Additionally, a QL user pays one low price to put up an unlimited number of listings. My LoopNet subscription for my brokerage business costs me a little under $3000/year, and that only entitles me to have 15 listings at a time. Don’t even get me started on what I pay for CoStar. If I wanted a partner, I would have gotten a partner….
So, a few months into it, where are we now? About 500 registered users, about 300 downloads (yup, sometimes you meet them, register them, and hope they download), about 400 listings (mostly concentrated in the NY metro area since that’s where I’m located). So far the project has been self financed. The team is me, some interns, and on the technical side a Chinese guy in Bulgaria, a bunch of Bulgarians, a designer in Australia, some web guys in India. The iOS version is pretty much bug free, but of course there are some things I would like to change. Android is not quite ready for prime time, but it is getting there.
For now, anyone who registers, or who I register, is given a Premium Membership. Even though it is only a couple of minutes work to add a listing, it’s still work. So most of the listings in the system now have been added by me and my team. We’ve gotten some nice press from CRE.tech (One Broker’s Journey to Develop a New CRE Mobile Listing App), RealEstateTechNews.com (QuantumListing Goes Where Agents Go to Provide Powerful Lead Generation) and CREoutsider.com (App News Featuring Griddig, QuantumListing, SharpLaunch & Nuzzel).
If you are still awake and have gotten this far, here’s where I’ll send you to the liquor cabinet. I’ve been doing some blogging to support the app. You can find that HERE. Our How It Works section explains the app pretty well, and the Video Demos are short and show you how it works. The last two were done for the iOS version, but 85% of it is applicable to the Android version.
Thanks for your time. I hope you have a happy new year and a designated driver.
David Perlmutter
Hello 2016
 
David Perlmutter is the author of the QuantumListing Blog and publisher of the QuantumListing App. He is also the owner of Perlmutter Properties Inc. in White Plains, NY.
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