Uber Real Estate: Disruptor or Distractor?

WRITTEN BY Uber Real Estate: Disruptor or Distractor?

Uber announced the launch of its real estate services today.

Its news release touts huge discount commissions and fees, and indicts the current real estate industry as the “enemy of the people.” The news release is big on hype, and little on detail. It won’t take Uber long to figure out the complexity of the web it just jumped into. See the press release in its entirety below via PRNewsire:

SAN FRANCISCO, Sept. 4, 2018 /PRNewswire/ — Uber Real Estate has announced the launch of Uber Real Estate services. Uber Real Estate is disrupting the traditional real estate brokerage brick and mortar business model by reducing the transaction cost by up to 50 percent using their unique on-demand model.

“You will never again pay a full commission using Uber Real Estate. We take the Jack Ma and Steve Jobs approach to business and supply the consumer with what they want. We will make Uber Real Estate the premium service it should be, provide the ultimate value and market liquidity. This is for the people,” says Brent Ritz, Chairman of Uber Real Estate.

Consumers receive Uber – Like Execution with only experienced professionals, no more drama and only substantive yes or no, answers. Uber Real Estate provides Broker and Broker Attorneys with ten to thirty years of experience to the company’s clients. Associates have equity participation based on performance metrics. They have assets, skin in the game and perfect records. They are part owners of their firm and consequently, do not compete against others at their own firm. They actually do provide agency and work for the clients of the company as it should be.

“People are completely sick of fees and the boring drama of under-educated inexperienced Realtor cheerleaders. Uber Real Estate provides superior service with the unnecessary overhead, inefficiencies and bureaucracy removed. Uber Real Estate is the much-needed disruption in the Real Estate space.”

“Consumers just want to go online and get it done with Uber – Like Execution. Presently we are completely website driven. An Uber, mobile application, for Real Estate, is under development.”

Uber Real Estate was registered in 2009. Uber Real Estate owns the Trademark, for the word, Uber, itself, for Real Estate.

At Point2, a company I ran for about 4 years, the company took web software it was successfully deploying in the heavy equipment industry (with a contract with Caterpillar), and adapted and applied that technology to the real estate industry. From there, our company discovered a niche in the area of syndication of “for sale property data” to new emerging business models. One passes many mileposts on the road to anywhere. Lots of capital would help Uber Real Estate overcome the many obstacles it is about to encounter. For starters, a major obstacle would be compliance with California Bureau of Real Estate licensing and advertising regulations.