Tommy Sowers, CEO of GoldenKey, details how much unbundled transaction services cost home buyers on the platform.
0:00 / 0:06exact quote · 7.0s
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“So on average, the consumer's
Pay about 2000 dollars to have agents represent them through the transaction.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Tommy Sowers
Opinion
Real estate agent fees destroy over 50% of home equity
“If you use an agent to buy and sell a home, you actually destroy over 50% of your home equity and the fees that they charge.”
Tommy SowersNov 26, 2016▶ 3:15EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
AssertionNot checkable as stated
GoldenKey claims zero customer acquisition cost for supply and demand
“I, you know, customer acquisition costs on both supply and demand is zero.”
Tommy SowersNov 26, 2016▶ 13:34EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
AssertionNot checkable as stated
GoldenKey's agent network is 60% larger than Redfin's after one year
“To give that some level of context, Redfin has about 1100 agents. So we, in a, in about a year, we're 60% bigger than Redfin.”
Tommy SowersNov 26, 2016▶ 5:02EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
AssertionContradicted
Top 5% of real estate agents earn 90% of commission income
“It's super Pareto inefficient. The top five percent earned 90%.”
Tommy SowersNov 26, 2016▶ 3:25EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
AssertionPartly supported
Three-quarters of the 2 million US real estate agents are part-time
“There's two million agents out there, and three out of four of them are in some sort of part-time capacity.”
Tommy SowersNov 26, 2016▶ 10:30EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
AssertionSupported
Tommy Sowers: Real estate agents generate $60B in annual commissions
“So agents make about sixty billion dollars of commissions.”
Tommy SowersNov 26, 2016▶ 3:10EP 490: GoldenKey $3.4M Raised, 1000 Units Sold By Agents Using New Technology with CEO Tommy Sowers
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