Don Angie is a super-hot Italian-American restaurant in New York’s West Village. To reserve a table, you have to log on to the restaurant booking site Resy at 9 a.m. seven days prior to the desired dining date. Recently, those who tried to book the few available seats via the reservation platform know they rarely open up. However, on Appointment Trader, you can start bidding on seats for any day for the next few weeks......for a fee of course. A big fee.
Many industries are subject to the parasites who enter the fray to sell back to either the consumer or those in a profession that which should come directly to them. Twenty years ago, anyone searching for a home in the New York area would search via the print - and digital - real estate advertising in the New York Times. The brokerages in New York were incapable - or unwilling to spend the money - to group together to create a means for the consumer to search for property in one place. The cost of advertising in the New York Times was simply passed on to their agents. Then, several new tech-related entities entered the fray with the mission of 'helping the consumer'.... while miraculously earning a fortune doing so, again on the backs of agents. (Recent lawsuits miraculously fail to mention the cost of doing business as a real estate agent.....)
These entities - now with pseudo-monopolies on consumer eyeballs - charge real estate agents enormous (escalating) fees - while using agent's data and collateral to help create their 'product'. The more you pay, the higher the priority you are to them, regardless of the value you bring to the consumer. The result? Someone has to pay for all of this, and most of the cost is passed on to the consumer.
So here we are today with A. I. Will our profession be as lazy and stupid as they have been in the past? Those outsourcing their A.I. are basically feeding ALL the data and information to third parties.....again. History has a way of repeating itself. Thankfully, COMPASS has been in A.I. for several years already, not just 2023 when the world became seriously aware of it. Agents at COMPASS have internal A.I. that allows all the information and data gathered to help improve....COMPASS.....and COMPASS agents... and especially their clients.
And then there are some that have the gall to say: “Compass is a disruptor by capital, but not by ideas.”......I think not. Maybe if COMPASS had been around 20 years ago, we - as well as the consumer - would be in a better position?