Pacaso co-founder Austin Allison reflects on his early mistakes in handling neighbor and community pushback to fractional luxury homeownership in Northern California.
“When we first started getting feedback, you know, in Napa is where it all started, or St. Helena, actually I just kind of ignored it because I'm like, you know, these people just don't understand. Like, this is actually a great thing for them. These are not renters. These are owners who have invested, you know, millions of dollars who care about the home. They care about the community. They're supporting the local charities. It's not changing the character of the neighborhood. So I just ignored the noise thinking it would go away. But what ended up happening was the noise didn't go away.”
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More from Austin Allison
Disclosure
Allison: Pacaso has sold over $1B in units across 40 destinations
“We've now been around for four and a half years. We've sold, you know, well over a billion dollars of these Picasso units. We have thousands of owners and operate in about 40 destinations around the world.”
Austin AllisonJun 27, 2025▶ 2:50Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale
AssertionPartly supported
Allison: Pacaso hit a $1.5 billion valuation in its first 18 months
“So we grew from, you know, zero to I don't know, billion and a half was our series C valuation, which we did in like the first 18 months. We were operating in 35, 40 markets. We had three to 400 people. I mean, we were growing fast, hundreds and hundreds of pe…”
Austin AllisonJun 27, 2025▶ 12:58Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale
Disclosure
Allison: Initially viewed selling Dotloop as a failure before Zillow deal
“In fact, I was just like absolutely adamant against the idea of selling. I viewed selling as a failure. I'm like, we're building this company to take it public and we're going to do it. And anything short of that is a failure. So selling never crossed my mind.”
Austin AllisonJun 27, 2025▶ 27:17Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale
Disclosure
Allison: Pacaso sells remaining home interests within 90 days of closing
“What usually happens is about half of the home is spoken for by the time we close. We then take temporary ownership of the other half of the home, and we have great financing partners that enable us to finance that. And then we sell through the remaining inter…”
Austin AllisonJun 27, 2025▶ 3:03Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale
AssertionSupported
Allison: Most vacation homeowners use their property only 5 to 6 weeks yearly
“Most people who own a vacation home only use it five or six weeks a year.”
Austin AllisonJun 27, 2025▶ 1:37Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale
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