LessThan6Percent.com making its first big moves
Launched in February 2013 by Max Diez and Simon Ru, LessThan6Percent.com was designed to be a more direct approach of increasing competition between real estate agents in an effort to help consumers to better understand their representation and research their agents, rather than hire the first agent they interview, which a National Association of Realtors study reveals is what the overwhelming majority of consumers currently do.
Since their launch, they’ve already partnered with over 300 brokerages and in an exclusive interview with AGBeat, the founders say the company is already expanding from California to Seattle, with aspirations of going national.
Ru explains the company by asserting that “LessThan6Percent has more depth than just a directory of agents with social network info and stats,” adding, “We are the only marketplace where sellers can request commission quotes and listing proposals. A directory service provides sellers with a contact info at the end of the flow. In a true marketplace like LessThan6Percent, with just a click of a button, our sellers will know exactly what services they are going to receive and how much they will cost. They can’t get that anywhere else.”
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Setting up shop in Seattle
The company says that Seattle agents have been demanding expansion into their city, attracted to the “premium” appearance the site gives to its partner agent. Ru said LessThan6Percent.com has been “sending photographers out to conduct video interviews and create magazine-style photos for our partners. What we have found is that agents appreciate that we are leveling the playing field.”
“Because our pricing is 100% performance based, our interests are perfectly aligned with our partners,” Ru said, adding that “agents are telling us they get a better ROI from our platform than sending out postcards or buying ads on other real estate sites.”
New features being added
The startup notes that they are already adding innovations to their offering, including:
- Interactive Home Appreciation vs. S&P 500 chart
- Magazine-style profiles for top partner agents
- Curated video clips on how to win listing presentations
How LessThan6Percent.com works
The founders say the company got its name because many consumers still believe that six percent is the law of the land, so they chose to focus on negotiation and getting attention from the seller. Because the founders’ background is big data analysis and microtransactions, they say they are comfortable with the accuracy of their transaction data. Not only can an agent enter their own data, the company scans the agent’s website to evaluate the accuracy of their claims and scan social networks to do the same.
There is no up front cost for agents and the company says that each magazine style profile helps an agent’s search engine optimization rakings, helps them win listings, and of course, earn more commissions. LessThan6Percent.com gets a 25 percent referral fee from transactions won through their site and they offer rebates to consumers which they so goes directly through them, as they are licensed brokers in California and now Seattle.
The company currently interviews sellers to match them with agents, and confesses this will be difficult to scale as they want to maintain this high-touch relationship with the seller and get involved in the process but be mindful to get out of the process and out of the way once the bid is won.
LessThan6Percent.com has replicated its model across California, and now Seattle, with goals to expand nationally by the end of the year.
Peloton is back-pedaling: Reports of price increases, layoffs, and cost cuts
(BUSINESS) After a recording of layoffs leaks, ‘supply chain’ issues cause shipping increases, and they consult for cost-cutting, Peloton is doomed.
Is Peloton in Trouble?
According to many reports, Peloton had success early in the pandemic when gyms shut down. Offering consumers a way to connect with a community for fitness along with varying financing options allowed the company to see growth when many other industries were being shuttered.
After two years, CNBC reports that the company is “being impacted by …supply chain challenges” and rising inflation costs. According to the report, customers will be paying an additional $250 for its bike and $350 for its tread for delivery and setup.
As demand has decreased, Peloton is also considering layoffs in their sales and marketing departments, overheard in a leaked audio call. The recording details executives discussing “Project Fuel” where they plan to cut 41% of the sales and marketing teams, as well as letting go of eCommerce employees and frontline workers at 15 retail stores.
Nasdaq reported that the stock fell 75% last year, after a year where it soared over 400%.
Peloton reviewing its overall structure
According to another report from CNBC, Peloton is working with McKinsey & Company, a management consulting firm, to lower costs as revenue has dropped and the growth of new subscriptions has slowed since the pandemic. Last November, according to NPR, Peloton had “its worst day as a publicly-traded company.” It also anticipates greater losses in 2022 than originally predicted. It makes sense that the company would reexamine their strategy as the economy changes. They aren’t the only one that is raising prices amid supply chain issues.
It will be interesting to watch how Peloton fares
Peloton has a large community that pays a monthly fee for connected fitness. While growth has slowed, the company still has a strong share of consumers. Although it is facing more competition in the home fitness market and more gyms are reopening, as Peloton adjusts to the new normal, it should remain a viable company.
CEO is offering folks thousands to *quit* their jobs, with one catch
(BUSINESS) A CEO out of Arizona is challenging employment norms by offering a sort of “sign-off” bonus upfront, but this method has one fatal flaw.
Chris Ronzio, the CEO of Trainual, a software company in Arizona that aims to systemize and scale your small business, is offering cold hard cash to quit your job in an unconventional ploy to bypass the effects of the Great Resignation.
Before you rush to turn in your notice and make some extra cash, you should know that this offer is dependent on being selected as a hirable candidate and making it through the hiring process for Trainual. This option is also offered to new hires after 2 weeks of employment.
This model of employment gives the employee the ability to fire the company and walk away with a little sum of money. The thought process of the CEO was outlined in an article by the Insider, saying it is a strategic move to retain top talent and maintain a strong company culture. While this is a unique approach…it has a glaring flaw. The offer is only good for the initial two-week period. However, it can take some time to recognize the shortcomings of any company when you begin employment. We can all recognize the long-term financial potential of reoccurring income and while $5,000 is not anything to shake your finger at, it will eventually be gone. I think we can all agree that constructive criticism can be difficult to swallow at times, however, if Trainual was truly invested in this model they would extend the offer at other key times during employment. What if this offer was again available at the 1-year mark? If the offer reappeared at a one-year review, the turnover may increase.
Per the Insider article, Ronzio was quoted as saying, “With today’s market, hiring teams have to move quickly to assess candidates and get them through the process to a competitive offer, so it’s impossible to be right 100% of the time,” Ronzio said. The CEO added, “The offer to quit allows the dust to settle from a speedy process and let the new team member throw a red flag if they’re feeling anything but excited.”
These statements detail another dimension to consider which is the employment hiring process and timeline. If top candidates are in such high demand that the process has to be sped up to secure a workforce, this monetary compensation can help to ensure the hiring decision. Although, when the offer was implemented in May of 2020, the offer was $2500, half of what it is now. Ronzio reasoned that they could stay while they looked for another job so they increased the amount to compensate for those with a higher salary range.
Let me preface this by saying that yes, accountability should exist, but I would be interested to know the turnover rate for the hiring team. The cost to the company from this unique approach adds extra weight for those making the decisions on who to hire. The stress the hiring team faces has to be factored into the candidate decisions. How many times can the hiring team get it wrong before they’re let go? While the pressure to hire the right candidate should always factor in, one has to wonder about the effects of this model.
Zoom fatigue? This new messaging tool is here to replace live meetings
(BUSINESS) Live meetings & emails can feel monotonous & unproductive. This new messaging tool offers everything we’re wanting in remote communications.
Even before the pandemic, meetings where everyone was corporally present were becoming less frequent. With technologies allowing for Jim to “conference in” from the east coast and Judy to “video in” from the west, computer-mediated meetings have been becoming the norm for quite some time. This has become even more true over the last few years, both due to the pandemic and due to new technologies such as ZipMessage. What’s that, you ask? Let’s ask the expert. “It’s a video messaging tool made for replacing live meetings with asynchronous conversations,” explained founder Brian Casel in his tutorial video of ZipMessage.
The tool is designed to create video, voice, and screen conversations without live meetings. It’s described as async video messaging software, made for remote work.
As the website explains, people everywhere are experiencing meeting overload. Remote teams everywhere are embracing asynchronous (“async”) communication to overcome three big problems with live meetings.
First, Zoom fatigue is a real thing. ZipMessage states that “your team craves the space for the high-value deep work.”
Second, great ideas are bound to get lost in these spaces. It’s impossible to retain each item being shared, even if taking notes.
Third, email doesn’t fully cut it. Typed messages don’t always convey the full message. With ZipMessage, you can still type your thoughts, but you also have the option of recording a video and sharing attachments.
The conversation about that meeting topic is kept to one page in a back-and-forth, threaded format. Anyone with a link can join in on the conversation without anything to download, install, or sign up for.
This allows you to talk in real-time while giving the opportunity to go back and recap what may have been missed the first time around. In addition to conversation pages and the face/voice/screen/text options, ZipMessage offers intake forms and the ability to go public or private.
It also includes integration with Zapier and Slack. There are embed options, automatic transcriptions, pre-recorded message templates, text and attachments, branded link URLs, multi-speed playback, and more.
This isn’t only useful for communicating with your team, but it can be used to share information with customers, as well.
Will you be ZipMessage-ing?
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