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Op/Ed

These two innovative real estate tech companies should merge

(REAL ESTATE TECH) There are two real estate startups that are innovating in a similar space, and their coming together would make them an unavoidable force in the industry.

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real estate tech

Famous duos permeate every aspect of life. Peanut butter and jelly, Sunny and Cher, Avocado toast and millennials…. The list goes on. One of the more infamous duos the housing market has seen in the last decade is renting homes and potential home buyers.

BUT. What if…

What if Keyo and Poplar by Onerent teamed up made the best duo of all time *AND* found a way to get people motivated to buy??

I suppose I should explain the two players of my perfect-world dream team.

Player one: Keyo

Keyo is a renter-focused property management tool that is a one stop shop for all things leasing. Applications, background checks, digital contract management, rent payment, maintenance request, you name it, Keyo provides it. Including, the pièce de résistance, the ability to report rent payments to credit bureaus which rewards tenants by improving their credit.

Player two: Poplar Street by Onerent

Poplar Street is a feature of Onerent. Onerent is also property management tool but focuses more on the homeowner. Onerent markets the property, schedules showings, qualifies applicants and creates the lease. Poplar Street is their golden goose. Poplar allows renters to get 20% of their rent back to help them buy a house.

A renter rents a house through Onerent and uses Poplar Street while doing so. Then, when they’re ready to buy, they use Onerent as their buyer’s agent and are cut a check for their Poplar Home Savings within a week after close of escrow.

I propose a merger!

Okay, hear me out. I know each of these property management tools have their flaws. For one, the exist on opposite coasts. That and whatever else aside (QUIT TRYING TO CRUSH MY DREAMS), this could be the dream team of the home buying for the future.

You take a property management tool that focuses on the renter and helps them build their credit which is a necessary component of purchasing a home and combine it with a property management tool that focuses on the landlord and helps renters to build up a money to make a sizeable dent in purchasing a home.

Y’all. This would solve a huge problem. It would be an incredible solution to a growing problem and the best part is it doesn’t matter how it happens, so long as it does.

Whether Keyo acquired Poplar Street/Onerent or it goes the other way, or the two just decide to be pals and work out a contract – I’m neither a Realtor, nor a homeowner, nor a business lady – this could be the solution to so many housing market problems and the beginning of the world’s best duo. It would be a meaningful marriage for renters! I hope this happens soon, and that I’m invited to the wedding!

Kiri Isaac is the Web Producer at The American Genius and studied communications at Texas A&M. She is fluent in sarcasm and movie quotes and her love language is tacos.

Op/Ed

Malls repurposed as housing could bring back discrimination

(EDITORIAL) Recycling dead malls into community colleges and libraries are smart ideas, but is there a deeper, darker implication behind the affordable housing idea?

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malls changed into housing

Clever investors want to transform defunct malls into affordable housing. This sounds like a win-win-win at first. It’s helpful, useful, practical – and doesn’t necessarily require federal funding. What a warm and fuzzy idea that can help people and make use of existing structures. Yaaaay!

We need more affordable housing. Nobody will deny that. According to Pew Trusts, the 2018 U.S. housing market was at its least affordable in ten years. Adaptive reuse is a brilliant idea on paper. However, “affordable housing” is not merely a phrase; it holds legal connotations and requirements, both on national and state levels. It’s…complex.

Then my inner skeptic popped up and whispered in my ear, “Careful. What if it’s a trap?” History tells us to be wary of separating people by socioeconomic status (often–though not always–related to race). I started thinking about the long, troubled history of the “projects” in the U.S., which served to effectively segregate low-income families from the post-New Deal era until modern days. This in turn led to less investment in the area, meaning residents had to contend with fewer schools, grocery stores, public transportation routes, and the like.

Perhaps the adaptive reuse of the malls is not so nefarious. After all, these malls are already in residential areas. Therefore, one hopes, decent schools, supermarkets, and public transportation already exist, just as in other areas of a given city. The residents of one mall, one housing development, should not significantly change the housing market and available local resources by much, right? It will be a seamless integration of a whole new group of people into a neighborhood, right? We hope that’s true.

Maybe it won’t be a case of white flight, AKA “There goes the neighborhood” all over again. After all, the ethnic diversity isn’t specified beyond “workforce, student and 55 plus housing,” future residents, as defined by Richard Rubin, CEO of Repvblic, the company leading the charge to invest in old malls and big box stores. It sounds like a positive thing that the new, “recycled” housing developments he’s investing in don’t require federal funding to get built.

Affordable housing is a challenge wherever you look. Investors in multi-million dollar, sexy and modern high rises aren’t traditionally going after the affordable housing market, because what’s in it for them? In Austin, where The American Genius is based, developers already balk at the idea of including the mandated affordable housing units required for new construction. Some developers have even paid the city millions of dollars to get around the requirement.

Adaptive reuse by recycling dead malls into affordable housing feels like a creative, beneficial idea. Yet, I encourage us to delve a bit deeper and ask the hard questions. I mean, there must be a reason there are more movies about hookers with hearts of gold than real estate investors with hearts of gold. This calls for cautious optimism, but also reading between the lines and paying close attention to the details as this type of housing develops.

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Op/Ed

Top 5 reasons resilience is key in the workplace and the hiring room

(OPINION / EDITORIAL) While it matters all the time, 2020 has especially shown resilience is important as an employee or employer to hold their own in the workplace.

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Open workspace, where resilience will be key to success.

If there is ever a time that demonstrates the value of resilience in the workplace, that time is now. Challenges, complexities, and change in our personal and professional spheres are inevitable and required for growth.

Brent Gleeson, author of the book Embrace the Suck: The Navy SEAL Way to an Extraordinary Life breaks down the components of resilience into three dimensions: challenge, commitment, and control. Resilient people see difficulty as challenge and a learning opportunity. They are committed and take ownership over their lives and goals. They spend their energy on that which they have control.

In the context of the workplace, employees and leaders will inevitably face setbacks, critical feedback and change- positive or negative. Managing engagement through this while working remotely can add an additional layer to this. Gleeson highlights five important reasons organizations should understand and work to build resilience in their workforce as part of their culture strategy.

  1. The first is that resilience skills directly benefit the psychological wellbeing of employees. Happy, healthy employees are good for business and the bottom line as well.
  2. Change is bound to happen and adaptability is key. Organizations need leaders, managers, and employees that have the resilience to navigate whatever comes up, as it happens.
  3. Learning and innovation is required to make it in today’s business environment. Even capable and motivated employees need to constantly maintain and hone their skills in a culture where they are allowed to continue to grow and improve.
  4. Resilience can be put to the test in organizations when interpersonal relationships are strained. Teamwork, when lead by intentional leaders, can help employees to frame interactions in a way that reduces negative feeling and improves group dynamics.
  5. Managers who can lead with resilience can help employees with career development and coaching in a way that develops their skills.

Some of the key characteristics that drive heightened levels of mental fortitude as shared by Gleeson are optimism, giving back, values and morals, humor, mentors, support networks, embracing fear, purpose, and intentional training. These contribute to resilience in employees, and in an environment where the only constant is change, the ability to meet the challenges of 2020 and beyond.

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Op/Ed

Enough, is Enough: how much minimalism do you need to succeed?

(EDITORIAL) Nobody starts a business praying for failure and debt. But, if we don’t identify what is enough for us, we can have a hard time pulling ourselves out.

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Enough peace

You’re scrolling on Facebook when you notice your friend’s feed, and the most recent post says, “You are enough.” You may recoil and think to yourself, “blech” what does that even mean? Touchy feely crap. I am “enough.” Ha! I’ll show you enough.

While exploring the concept of being enough may make some folks queasy. Asking the question: How does “enough” translate from our lives to our business? is it relevant and can help us get to our raison d’etre, our sweet spot, our perfect pitch, our business manifesto. And, what is “enough” for us in planning our life and business goals.

Recently, I was watching a British show on Netflix. The gist is an “expert” goes around to businesses to help them update their brands and improve business. In one episode, the host walks into a man’s clothing shop and asks the owner about his wares. He explains in one section he has clothing for the “fat bastards” (I am not making this up – he literally says that), in another section he has styles for the “trendy” kids, in another section, clothes for the businessman.

The owner thinks he’s doing great, but his sales suck, his customer service sucks, and he doesn’t understand why.

From the outside looking in, it seems pretty obvious, the guy is trying to serve everyone and in doing so, he’s doing a crap job of serving anyone. Plus, he was rude and literally didn’t understand that calling customers fat bastards wasn’t good customer service.

From a business point of view, this guy had no concept of what it meant to be “enough” because he was trying to serve too many potential customers and it was a very disjointed effort.

His problem is not unusual. Think about it. Haven’t you gone into a locally owned business to find it selling too many items that make no sense? Kind of a like a gift shop gone wild. You look around and see things you like, but you get confused and leave without making a purchase. Instead, you walk a few doors down to the store that specializes in jeans or shirts or cool shoes and you drop some virtual Benjamins.

In his blog, Paul Jarvis expounds on the idea of being enough. He says, “In order to be more aware of what makes sense for our lives and businesses, we need to be aware of what enough means.”

And, that my friends, depends on who you are. Enough to me may not be enough for you. But, Jarvis explains is that, it can’t be minimalism for Instagram’s sake. Meaning, we aren’t truly living in an enough “state” if we are trying to be what we think others want to see.

Let’s not get caught up in the “yeah, but it’s Paul Jarvis.” Cuz, he also states this isn’t about judging others, because if you ain’t got much, it can seem pretty patronizing for someone to tell you to live with less. And, that isn’t what we’re talking about here.

If we go back to the business concept, consider Apple. The company started off building computers. It veered into phones and watches, but still tied to the idea of smaller versions of its computers. It stayed pretty true to itself. The concept was built around one product. The stores make that product shine. And, we as consumer feel we aren’t enough until we have the newest gadget and gizmo they sell. Brilliant.

For you having the latest gaming system or all the streaming channels may be the thing. For me, I get by with basic cable and Netflix. My enough isn’t yours.

So, if we are being truly cognizant of what we want in our business and lives, we need to understand what enough is for us. Not what is enough based on someone’s feed on Instagram, showing them with the Lambo (rented) and fancy clothes (rented) and fancy location (maxed credit card). We need to consider where we, from a truly authentic space, can live in enough.

Per Jarvis:
“Enough is the antithesis of unchecked growth because growth encourages mindless consumption and enough requires constant questioning and awareness. Enough is when we reach the upper bound of what’s required. Enough revenue means our business is profitable and can support however many employees/freelancers we have, even if it’s just one person. Enough income means we can live our lives with a bit of financial ease, and put something away for later. Enough means our families are fed, have roofs over their heads and their futures are considered. Enough stuff means we have what we need to live our lives without excess.”

One way to think about enough is to sit back and consider what would be your perfect day. If you were doing what you wanted – no holding back – what would your day look like. Imagine it. Are you really shopping and dropping $1k on a pair of shoes? Maybe. Or, are you hanging out with someone you love, doing work the way you want, having some food, walking your dog, doing yoga, CrossFit, etc., enjoying dinner and heading to bed?

If you think about business in the same way, what would your business look like? Would it be like 7-Eleven with Slurpee’s, Slim Jim’s, lottery tickets and birthday cards? Or, would it look more refined? Because, Target and Walmart have a lock on mega shopping experiences. 7-Eleven has a lock on, it’s 4 a.m., I’m wasted and need crap food.

Consider, how does your idea of equilibrium impact the outcome of your business, your work, your idea of success?

Most of us would love to be wealthy and that is our guidepost when it comes to the idea of business success. But, when evaluating it from the perspective of “enough” our viewpoint might change if one considers debt load to profit or unsold, stolen or damaged goods to profit. If you have more debt than cash, are you enough?

“Where things can go awry is when we never consider what enough is as a marker,” Jarvis says. “When this happens, we don’t solve for enough or optimize for it, we just keep going and going with more and more.”

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