The ‘incumbent’ iBuyers’ biggest obstacle? Thinking too small.

How do you know when your mudpie factory is really hitting its numbers?

Demography is destiny, and nobody knows that like the hopeful seller of a six-bedroom home. Is that seller an iBuyer? Danged if it ain’t!

But no one hopes like a note-holder – and yet there is no reason to project moral hazard in any direction except catastrophic, and iBuying promises to make that all worse: What’s another default, anyway? Nothing more than an opportunity to be even-juicier prey to an even-sleazier creep. Why not go all-the-way car-dealer and roll the old mortgage into the new one? No one would ever skate on a deal like that.

And as Knock knows and as OpenDoor now knocks-off, only first-timers, last-timers and investors have one-sided transactions. Everyone else needs to move up. Of course, if you already qualify for two mortgages – instead of, you know, almost one – you’re too well-set to need hand-holding, and too well-informed to overpay for it.

There’s more. I’ve pummeled these dumbasses punch-drunk over their ineptitude at marketing their ‘investments,’ but turning over the product is only part of the iBuying problem. A retail real estate praxis is far more comprehensive than any of them imagine so far, incorporating every player in residential housing – especially the note-holders.

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But what’s more, a complete solution to real estate retailing addresses the moral hazard problem as well – along with customer satisfaction and retention, reputation, and all sorts of other everyday business matters no one is even considering. The triumphant real estate retailer will be the one that recruits, reinforces and retains the most-reliable homeowners.

I have lots, lots more. I know how to pluck the existing iBuyers down to the gooseflesh, but I have ideas about building an entirely-unassailable real estate retailer: Impossible to compete against, with near-perfect customer performance and retention.

Leadership emanates from these two words: Follow me. I repay effort. Tell your friends.

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