Rule of thumb:
Tim, pls find time to read Great ideas!
Sunday, March 04, 2007
4-3-2006 讀報
9:05 AM
懶人大學生發明「飛彈」啤酒機 2007-03-04, 成報, A14, 國際新聞
神奇抹布 污漬冇得留低 2007-03-04, 東方日報, A24, 國際
王貽興寫作舒解我不安 2007-03-04, 明報, P22, 讀書, 讀書, 鄭依依
豐乳傳說的現代神話 2007-03-04, 明報, P14, 日偽流民, 湯禎兆
獨立建國不是夢 2007-03-04, 蘋果日報, E08, 名采論壇, 牛棚讀書記, 梁文道(牛棚書院院長)
An idea a day:
82. Develop a digg style online Multiple Listing Service for real estate, at which users can suggest price for any apartments listed, if the suggest price matched with the deal price, prize could be awarded.
Digg style of MLS could shown to buyers and sellers the popularity and demand of that apartment.
The game of the award platform goes like this:
1. Users suggest price for any listed apartments
2. If the suggested price match perfectly to the deal price, awards, like a certain % of the agent fee could be given
3. If more than 1 people bid the deal price, then lottery draw could be applied
4. There could be no people win the prize, as there could be no one guess the deal price
The benefit of this platform:
1. To Buyers and Sellers
Driven by the wisdom of crowd, if the sample size and diversification is large, the chance of suggesting the most optimal price for a apartment, combining all the information in the market, could be done.
People who want to buy and sell could make reference to the crowd suggest price for selling and buying.
This could provide a more accurate mean for pricing when compared to present method:
a. Compare to the historical record of that apartment
b. Compare to the recent selling price of similar apartment, nearby, in the same estate etc, like data in Centadata
c. Listen to what the agent suggest, at which the price could deviate from the market, no matter how professional the agents are, as the price is only "one-mind" suggestion
d. Read magazine for crowd of agents and professionals opinions
2. To web users
Users could win prize, could make $$ out of the real estate from no cost. They could also update and find opportunities in real estate.
3. This website
The crowd could provide a real-estate-index for pricing, given the most important information to buyers and sellers, facilitating to close deal from MLS. If closed deal, agent fee could be earn.
It could attract people who interested in real-estate, a concentrated audience for marketing purpose, advertising fee could be earn.
In theory the game goes like this:
The crowd suggest the most optimal market price → Buyers and sellers could make reference to the price, other than traditional measures → If the crowd suggested the deal price, award could be given.
Comments:
I should not disclose, but my firm is doing a plan which is very similar to yours.
We will invest about USD$0.5M on it, and it is in the last few stage now.
posted by 
@ Sunday, March 4, 2007 at 6:43:00 PM GMT+8
@ Sunday, March 4, 2007 at 6:43:00 PM GMT+8Steve,
Really?
To all,
Will resume update on Wednesday.
posted by @ Tuesday, March 6, 2007 at 10:57:00 PM GMT+8
@ Tuesday, March 6, 2007 at 10:57:00 PM GMT+8Yes, we think the model is brillant if everyone would take part!
For apartment that is rare and have few transaction, buyer and seller could find some sort of indicator for the optimal price, how amazing!
posted by @ Wednesday, March 7, 2007 at 8:45:00 AM GMT+8
@ Wednesday, March 7, 2007 at 8:45:00 AM GMT+8I just thought that in this world I am the only one with this crazy idea.
posted by @ Wednesday, March 7, 2007 at 11:41:00 AM GMT+8
@ Wednesday, March 7, 2007 at 11:41:00 AM GMT+8