August 9, 2010

Bill Gates is a techno-real-estate prophet.

Check out what Gates said 15 years ago in his 1995 book, “The Road Ahead” with regards to finding homes for sale on the Internet:

“If you put your home on the market, you will be able to describe it fully and include photographs, video, floor plans, tax records, utility and repair bills, even a little mood music. The chances that a potential buyer for your house will see your ad are improved because the information highway will make it easy for anyone to look it up. The whole system of real estate agencies and commissions may be changed by the principals having direct access to so much information.

At first on-line classified ads won’t be very attractive, because not many people will be using them. But then word of mouth by a few satisfied customers will entice more and more users to the service.

There will be a positive feedback loop created as more sellers attract more buyers and vice versa. When a critical mass is achieved, which might be only a year or two after the service is first offered, the information highway’s classified advertising service will be transformed from a curiosity to the primary way private sellers and buyers get together.”

He was off by a few years, and didn’t touch on map-technology, but otherwise it becomes apparent why he made so much money.

If only he mentioned the name BuzzBuzzHome, then he would have been a true prophet!

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