Tuesday, October 9, 2007

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Another Niche Site Launching

Zolve is a Social Network for the real estate industry. Brokers and other real-estate professionals (like title insurance agents, inspectors, etc.) across the country will be able to create profiles on Zolve and connect to their professional peers across the country. By clicking on their “sphere”of influence, they will be able to see every other Zolve member on a Google Map who is connected to them by two degrees of separation. The whole point of the site is to generate referrals between real-estate professionals. A broker can get 25 to 30 percent of a commission if she refers a customer to another broker. This is done all the time within the industry, especially if a potential home buyer is looking outside the first broker’s immediate geographical area of expertise. For example, a broker in San Mateo might sends business to another broker in Denver,and collect a referral fee of a few thousand dollars if the customer ends up buying a property there.

Brokers will be able to establish their real-estate cred by blogging on their profile pages. Each transaction also generates a reputation score similar to eBay’s. (Not only can the brokers vote on each other’s reputations, but so can the home buyers or other customers involved). By automating such referrals, founder Brian Wilson thinks that he can create a system where real estate professionals can tap into each others’ detailed knowledge of their own markets to counter the Zillows of the world.

Other companies in the real estate space include Zillow and Redfin.

Article taken from :http://www.crunchbase.com/company/zolve

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