"Every few years, some new technology comes along promising to upend an entire industry. The early coverage is breathless. Investors pile in. Founders talk about making things faster, cheaper and more transparent. For a while, it really does feel like the ground is shifting under your feet."
"Real estate technology has attracted enormous attention and capital for the better part of a decade. New platforms promised to modernize buying and selling homes via better data, more automation, digital workflows, and more."
"But ask someone who recently bought or sold a home whether the experience itself feels fundamentally different, and you'll usually get some version of 'not really.'"
"Innovation tends to move through a series of stages, and real disruption often requires addressing the incentives that drive industry behavior."
Innovation typically progresses through visibility, interface, and incentives, yet industries often remain unchanged despite technological advancements. Real estate technology exemplifies this trend, attracting significant investment and improving tools and data access. However, the actual experience of buying or selling homes has not fundamentally changed for consumers. This pattern of disconnect between technological progress and industry experience is common across various sectors, indicating that true disruption requires addressing underlying incentives.
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