Elevator Pitch is a regular feature on Lifehacker where we profile startups and new companies and pick their brains for entrepreneurial advice. This week, we're talking with Lee Wei from Hutbitat.
In 128 words or less, explain your business idea.
The Australian property market is dominated by big players who charge insane amounts of money to the common consumer to have their listings seen when they want to sell their property. We have decided that this should not be the case. We are working hard to improve the home search experience. This means transparency and a fair playing ground for everyone involved in the process.
Using technology, we find properties on existing agency websites and display them for the public to view. In addition, we provide data such as transport information or price comparison tools to enhance the experience. At the core of Hutbitat, we promise to never charge just for listings to be seen by the public.
What's the biggest challenge facing your business?
Getting publicity; this is the brutal truth for startups. We are extremely proud of what we have on our hands and really can't wait for more people to use it and try it out.
How do you differentiate your business from your competitors?
We are not aiming to compete with the big boys and their treasure trove of resources. A bloodbath is not our intention. We would like to think of Hutbitat as a service to improve the home search experience, not just solely as a real estate search function. As such, we work hard daily to provide a positive search experience. Try it out and see for yourself!
What one phone, tablet or PC application could you not live without?
This took some discussion with the team but we ultimately settled on the Google Play Store. Why? It's pretty obvious. We wouldn't be able to download anything without it.
What's the best piece of business advice you've ever received?
Marketing Myopia by Theodore Levitt that was published in the 1960s still rings true for us. An example "Hollywood barely escaped being totally ravished by television. Actually, all the established film companies went through drastic reorganisations. Some simply disappeared. All of them got into trouble not because of TV's inroads but because of their own myopia."
To put it on our context, we do not see ourselves in the real estate industry simply just for real estate search. Hence, we have decided to look at it from a broad view.
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