"World of DaaS" Qualia CEO Nate Baker - real estate's digital infrastructure layer
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Dec 17, 2024 Nate Baker, Co-founder and CEO of Qualia—a leading real estate closing platform—discusses the digital transformation in real estate. He dives into how AI is reshaping transactions and the complexities of modern property buying. The conversation reveals the intriguing trend toward 'super app' solutions in real estate and debunks myths surrounding vertical SaaS. Baker also addresses the impact of housing supply politics on the market, making a case for how competition drives innovation in software development.
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Real Estate's Digital Maturity
- Real estate's back-office operations, being data and workflow intensive, are well-suited for computerization.
- This sector may be more digitally advanced than perceived, with early adoption of internet and computer technologies.
Real Estate's Coordination Challenge
- Real estate transactions face a coordination problem due to multiple local parties involved, hindering quick modernization.
- Title companies, being central to the process, offer a good starting point for building a common coordination platform.
NAR Ruling and Commission Stability
- Despite a ruling against commission inflation, Qualia's data analysis showed no change in commission payments.
- This stability contrasts with expectations of market shifts following the ruling and highlights the stickiness of real estate commissions.