Real estate startup offers 'Zocial' platform, buyer rebates

Before forming ZonicRealty.com Inc., founder and CEO Eric Eckardt served as founder and president of Empire Home Realty Inc., a brokerage based in Sarasota Springs, N.Y. That company was acquired in 2009by Hunt Real Estate ERA, where Eckardt served as general manager and partner until November 2011.

The following is a Q-and-A with Eckardt:

Q: What idea launched the company?

A: After selling my independent brokerage firm, which I founded in 2004 to a nationally ranked Realogy brand in 2009, and then managing that "traditional" model over two years, my thoughts were validated that our industry is going through a necessary correction.

Specifically, social media technology has redefined our industry, while consumer behavior has changed (and) traditional firms were trying to justify their relevance.

Therefore, I wanted to launch a brokerage, ZonicRealty, that would leverage every medium while ... utilizing an online platform and an "in-house" social platform, Zocial.

This, combined with assembling a strong leadership team with proven business development experience, allowed me to finally launch ZonicRealty.com with an aggressive growth strategy to scale quickly and disrupt traditional markets.

"Zonic" was chosen because we believed it was "futuristic" and resembled technology, versus a typical name like John Doe Brokerage.

Q: What are the major products and services offered by your company, and the cost of these products and services?

A: (ZonicRealty offers) real estate brokerage services, providing significant cost savings per transaction through buyer rebates and a lower commission structure for homebuyers and sellers, respectively.

The commission rebate is for buyers, where we rebate 20 percent back to the buyer at closing. (Sellers) can list (for) as low as 4 percent (commission) while still receiving maximum exposure and professional service. 

Q: What is the company's core business model?

A: Our core business model is a residential, consumer-centric real estate brokerage utilizing an online platform that leverages social medial and technology. Our business model generates revenue (gross commission income) through buyer and seller representation.

We offer buyer rebates to consumers to qualify and save thousands on the sell side while offering them a wealth of services, including an aggressive online marketing campaign for each respective home. Our sources of revenue will be through ancillary partnerships, although our primary source of cash flow is gross commission income.

Q: What makes the company's product and service offerings unique?

A: ZonicRealty.com's product and service offering is unique due to the following attributes:

·         Social platform, Zocial (derived from the word "social" and "zonic," hence "Zocial"): inspiring collaboration between all market participants (and) links to Facebook. We are steering our ... homeowners to post about their home, neighborhood, schools, etc., from their perspective -- encouraging collaboration and market insight.

·         Buyer rebate: offering the opportunity to earn 20 percent back at closing with no diluted requirements (such as a minimum commission) or fine print.

·         List online: Sellers can list online through our website, creating efficiency and minimizing a traditional role in the process.

·         3-D virtual environment: Through our intranet site, ZonicCloud, our agents can collaborate through (an online virtual) environment across all markets.

·         Leadership: Proven real estate professionals that have business development experience at the executive level.

·         Paperless transactions: Our agents can manage their business (and) deals in the "cloud" through our platform.

·         Scale: In seven weeks, we (were) in three separate markets in Long Island, Syracuse and the Greater Albany Capital Region in New York state, with Florida pending in the Tampa-Sarasota region. (In) other markets we have secured partner agents in advance of our formal launch(es).

·         Disruptive: We are targeting "traditional markets," providing consumers with a viable option.

Q: As the founder, what is your background?

A: I started my career on Wall Street in investment banking, where I worked for more than eight years, providing senior bank financing for acquisitions, leveraged buyouts, and general working capital needs for Fortune 500 and middle-market companies.

After departing investment banking in 2004, I launched an independent real estate and mortgage company that I ultimately merged into a joint venture with one of the leading real estate firms in the country in 2009.

I stayed with this company (Hunt Real Estate ERA) as the general manager and partner for our region in New York state growing revenue by more than 400 percent in less than two years by executing organic and acquisition initiatives. (I) departed ... this traditional firm in November 2011 to launch ZonicRealty.com.

I've also been involved in several other startups since 2004, including a crowd-funding platform for small businesses and entrepreneurs.

Q: What is the amount of outside funding received to date?

A: ZonicRealty.com is self-funded, although (I) had preliminary exploratory conversations with (a) venture capitalist and angel investor regarding an equity injection to accelerate our growth initiatives. As the sole shareholder, I'm on the fence with regard to diluting my equity position with a (venture capital firm), unless it is a strong strategic partner.

Q: Is the company profitable now? If not, when is it projected to reach profitability?

A: No, although our break-even will be within the second quarter of operations, given our pipeline of business and low cost structure (no brick and mortar).

Q: What are the company's growth plans for the current calendar year?

A: Outside of penetrating several markets in New York state, which we already did within two months in Syracuse, Albany and Long Island, we are launching in Florida and several other states.

Q: Which technology trends and market trends is the company watching most closely?

Outside of specific technology, we are focused on consumer behavior.

Q: What new products, product features and services is the company investing in most heavily?

Social media and technology.

Q: Any upcoming releases/developments?

A: ZonicRealty Inc. is launching in Florida around April 1, pending application status, in addition to other markets outside of New York state. Again, we are currently conducting business in Syracuse, Long Island and the Greater Albany Capital Region in New York state, with teams in place carrying our flag, ZonicRealty.com.

http://www.inman.com

Clive Thompson on the Power of Introversion

• By Clive Thompson
• Email Author 
• March 21, 2012 
• 12:34 pm

Guy Kawasaki, by all appearances, seems like an outgoing guy. A former Apple “evangelist,” he’s an omnipresent voice online, blogging his ideas about entrepreneurship and tweeting 40 times a day to his half-million followers.

But a few years ago he posted a surprising 140-character revelation. “You may find this hard to believe,” Kawasaki wrote, “but I am an introvert. I have a ‘role’ to play, but fundamentally I am a loner.” His followers were gobsmacked.

You can understand their confusion. As Susan Cain points out in her much-discussed new book, Quiet: The Power of Introverts in a World That Can’t Stop Talking, introverts get a bad rap in American culture. Ever since Dale Carnegie began writing manuals might l on glad-handing your way up the corporate ladder, US society has embraced the idea that extroversion is key to success: Your achievement—and even your level of creativity—depends upon your being gregarious and outgoing and able to work well in a team.

But as Cain’s work indicates, a new picture is emerging. Forcing everyone to act like extroverts harms the quality of our work and our lives. The good news that I’d add? Many digital tools are helping to mitigate that harm.

About half of Americans are introverts, Cain says. These are people who have a superb ability to focus but work best alone and become drained by too much enforced socializing. Yet the US workplace has evolved in complete opposition to their needs. Private office space has shrunk dramatically: 30 years ago, companies averaged more than 500 square feet per employee; today it’s less than 200. Meanwhile, corporations have pushed employees to work in face-to-face teams, marching them endlessly into conference rooms for brainstorms.

“There’s such a stigma against introversion,” Cain says. “To reveal that you’re an introvert puts you in a bad light.”

Yet this incessant teamwork isn’t useful. A mountain of studies has shown that face-to-face brainstorming and teamwork often lead to inferior decisionmaking. That’s because social dynamics lead groups astray; they coalesce around the loudest extrovert’s most confidently asserted idea, no matter how daft it might be.

What works better? “Virtual” collaboration—with team members cogitating on solutions alone, in private, before getting together to talk them over. As Cain discovered, researchers have found that groups working in this fashion generate better ideas and solve problems more adroitly. To really get the best out of people, have them work alone first, then network later.

Sounds like the way people collaborate on the Internet, doesn’t it?

Indeed it is—and as I’ve noticed, my introvert friends love it. Sure, the digital era has uncorked a fire hose of interaction, but it’s mostly asynchronous. With texting, chat, status updates, comment threads, and email, you hash over ideas and thoughts with a pause between each utterance, giving crucial time for reflection. Plus, you can do so in private.

“This is precisely what brings out the best in introverts,” Cain agrees. It’s why someone like Kawasaki thrives online. And it’s how the epic collaborations of the digital age—like Linux and Wikipedia—function: with a constellation of folks, many of whom probably peg the needle on the Introvert-O-Meter, working intimately but remotely.

Granted, not all online tools are good for introverts. As Cain says, research shows that Facebook’s endless friend-collecting is more appealing to extroverts than introverts.

But overall the irony here is pretty gorgeous. It suggests we’ve been thinking about the social web the wrong way. We generally assume that it has unleashed an unruly explosion of disclosure, a constant high school of blather. But what it has really done is made our culture more introverted—and productively so.

www.wired.com