I’ve been following Individui for quite a while now. Their co-founder, Bill Brister, contacted me a few months ago to say that he and colleague Lee had been working on a property information service. He’s been keeping me updated with news as they’ve been developing it. Now they’ve just gone live!
Here’s the concept: If you’re a real estate agent or ‘realtor’, as I think they call’em in the States, you’re rather keen to hear from anyone with even just a passing interest in a property — even if it’s just a text message enquiry.
Case in point: I was strolling down Chalton Street just off Euston Road to a meeting sometime in the summer of 1997 when I spotted a ‘flat for rent’ sign. I wanted to know how much the place was on the market for but I was too busy to call the number advertised. I had to get to a meeting, I’d been delayed by the train, and so on. In fact, the last thing I wanted to do was get into a protracted sales call with an eager estate agent.
So I left it. Then I actually had to make a second trip to Chalton Street to go and get the number as I hadn’t taken a note of it. Eventually I and two friends moved in. But the whole thing could have been completed in days if I’d been able to text the estate agent with an initial enquiry.
I firmly believe this is an extremely valuable service. I know it is. It’s a total 100% ARSE that estate agents in the UK rarely do this.
Let’s be clear: It’s an ABSOLUTE ARSE walking down the street, seeing a for sale/rent sign and thinking, ‘hmm…. interesting… I wonder how much… and is it still available?’
But I don’t call. You don’t call either, do you? Not unless you’re REALLY interested. Because you know you’re going to get a hard sell. You’re going to be listed as a ‘potential buyer’ on the Estate Agent’s system … when all I often want to do is to enquire as to the price and perhaps get sent a schedule of information. Or a link to view it online. A link to view the details via mobile web would be even sexier. Then I can forward to my girlfriend, my brother, whatever.
Now, texting for information on a property isn’t new per se. However Individui have made it rather easy to deploy — that, I think, is one thing that will set them apart in the industry.
A big poblem for realtors is signage. I know that many UK estate agents don’t bother with text enquiries because, to work effectively, you ideally want to put a unique ID on the sign — so that the user can text for information and get a reply immediately. And so the user doesn’t have to say ‘it’s the house on the corner with the blue door on Chalton Street’ in the text message.
Most estate agents I’ve talked to — and I’ve talked to quite a few in the UK — say they aren’t quite sure how to manage the infrastructure and logistics of putting the right sign on the right building.
I think this is total nonsense. It’s just not good enough for me as I’m walking by the street. There are two apartments I’ve seen recently that I am potentially interested in. But you know what? Both estate agents advertise their phone number and NO text number. So if they can’t be arsed to make it easy for me to make a brief enquiry on the go, without having to phone them and give my life story (“do you have a mortgage arranged, Sir?”), then stick it. I am not bothering enquiring. I’m not giving them the business.
Which takes me to the Individui service. Their back end technology works as you can see in the picture there. They’ve produced a ton of uniquely numbered signs that are affixed underneath the for-sale sign.
To enquire about the house in the picture, you just text INFO 807 to 41411. You then get a text message back right-away with the gossip. I asked Bill for an example one as I can’t text to a US shortcode from the UK:
409 Arbor Circle 7/5.5 5,500 SF, Tropical pool w/ screened summer kit, HDWD FLR $1,749,902.00 Shelley Hefner 321 246-2988 – For more info reply MORE100
Briliant! This sates my immediate need for the critical information. Now that helps put the property in some perspective and I can even request more details by text — and then, probably call the realtor if I’m actually seriously interested.
They’ve put a good bit of thought into the model though. The signs are recyclable to as many properties as the realtor wishes. Once the house with ‘INFO 807’ on it is sold, the sign can be moved to the next property and the database repopulated accordingly.
They’re also hoping to extend the reply message shortly so that they can send you back a link to a mobile wap version of the property’s schedule. That would be wickedly good.
Bill and co-founder Lee Moore, have created a patented process that pulls the relevant details into the Individui system direct from the estate agent’s own MLS (multiple listing search) property information system. Very cool.
They’ve recently gone live with their service and they’ve been getting some super feedback. I’m delighted for Bill and Lee — it’s been fantastic to hear about their business go from idea to patent to reality in a few short months. I hope they can grow the business and encourage more real estate agents to adopt the medium.
If you’d like to talk to Bill, if you’ve got some suggestions or thoughts, let me know and I’ll connect you. Or get him on +1-321-948-4759 or via his Who’s Who.
My business partner and I in London have in fact developed the exact technology which you are talking about. You will find our site points to Fish4homes.co.uk as we have a contract to supply them with our boards and a back office for both them and their clients.
We have found it is taking off slowly but gradually so I guess we must be doing something right.
We are looking for investors so we can take this even further and can provide a business plan and forecast. WE do envisage this taking off big time and to be fully established with a monoploy in the market place.
If you are interested can you please contact my Business Partner Brian Smith..0208 547 3009
Many Thanks
Linda Flewin…fellow North American!