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  • #995720
    Delgadostakeaway
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    Hi everyone,
    My wife comes from a country that I would also consider my second home. The last time I was there 12 months ago I discovered a potentially great opportunity in the real estate industry. I was searching online for different property types and found it really difficult to find what I was looking for, as the existing real estate listings portals where all pretty average at best.
    So I started to think, if there was a real estate website as good as realestate.com or domain in this country then it could be very successful.
    I am not a website developer nor do I really know much about the industry, how can I go about getting my desired website (something similar to australia’s best) built?
    I am knowledgeable enough to know that realestate.com and domain have millions of dollars behind them, but is it possible and affordable to build a smaller version of these sites to begin with and then expand it and continue expanding every so often until it is at the ideal size?
    I don’t come from a lot of money nor do I have a significant amount of savings, could the job get done by outsourcing?
    I have also thought about trying to contact a talented website developer student from the local university/take, would they be capable?
    Are there developers out there who will do the website development for you for free in return for a snegotiated stake in any potential profit? Perhaps this could also be done with a student developer
    Thank you

    #1203624
    joelwarren
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    Hey again,

    I just commented on your other thread.

    Where is your wife from?
    I’d consider the current realestate website pretty good, I’d be interested to hear where you think they fall short if you’re happy to share.

    You are definitely right that realestate and domain have spent a lot of money on their system (and also marketing).

    An interesting story I hear about something similar to this is in the same complex that my mum worked there were 2 guys that started up a realestate website like you are talking, they ended up being quite successful and got acquired by one of the bigger players.

    With tech like wordpress about you could probably setup a site at a reasonable cost, depending on what you are trying to achieve. There are a few realestate focused themes and plugins that you could search and potentially start from.

    A student could be a good approach for this, but equity share is always a risky business for anyone already established. If you want to go the equity share route I’d suggest putting together a pitch deck or business plan which covers:

    1. What’s the opportunity you see
    2. Details about the market
    3. What you are planning on doing
    4. Why you are the right person to be doing it
    5. What is the outcome you are expecting

    #1203625
    Delgadostakeaway
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    Hi Joel, thanks for your input on this thread also.
    I do think the most likely avenue for me with this project would be discussing it with a student developer, one who may be coming close to the end of their degree and looking at a project for ‘class’ or the first thing they try after graduating. I guess the main benefit I saw from an equity share is that the developer would do his/her side of things while I would be the one doing the groundwork in my wife’s country. Fair split.

    The only thing I’m a little confused from your response is about you considering the current real estate website to be good. I’m not sure which one you may be referring to as I didn’t mention the names of any particular site that I thought could be better from where she’s from, and I didn’t mention the country? (BTW I won’t tell you exactly where she comes from just yet, just that she is from a developing country).

    Both realestate.com and domain are fantastic, their best features for me are being able to search by a list as well as with a mostly accurate map, good details on everything, along with being able to find recently sold listings from the suburb you may be looking at etc.
    it’s the real estate sites from her country that could improve, I’ve found them very difficult to do any of the mentioned positive features. Searching by map is either unavailable or just poorly done with accuracy, you can’t find recently sold properties in an area, if you do an advanced type search to filter the number of properties to only the things your really after, this doesn’t work properly.

    All of this type of thing could be done so much better which is where I see the opportunity, not inventing a new groundbreaking real estate website, just making one that is much better than what is currently existing ( based on these Australian models that I believe work great).

    I do believe many people have had massive success by just improving on something that already exists, not having to be the first one in the market.
    And Joel, if it ever got to the point where it was good enough that someone bigger wanted to acquire it, then I would feel accomplished.
    Thanks again

    #1203626
    joelwarren
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    Hi mate, yep I totally misunderstood. I thought you wanted to bring ides from another company and do another real estate site here in Australia.

    There are definitely a lot of good stories of taking something successful from one country and doing it else where. Might be worth considering why it hasn’t been do already though, potentially there is some kind of legal or cultural difference? If not, I’d say go for it and best of luck.

    #1203627
    Delgadostakeaway
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    Thanks Joel, don’t think there is any issues as such to prevent a better site from opening up, I just believe the sites were made to what the developer thought was a good site but compared to other existing ones over here they definitely just fall short, or could be so much better.
    I would love to give it a go if I can find the right person to help start it small and affordable

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