The book talks about category kings, and the fact that the king always captures 70-80% of value/revenue in a given category, 2nd place grabs enough to scrape by and remain viable — and everyone else fights for the scraps (and generally ceases to exist).
Category kings don’t sell better. They sell different.
There is one clear a category killer in online real estate.
Zillow. (in fact, Rich Barton was mentioned in the book for his work on Expedia, Zillow, and Glassdoor).
For Entrepreneurs
The chance of “beating” Zillow are extremely low.
What categories solving new problems can be created in real estate? If you’re intent on building a company that lasts, that’s what you must answer.
For Agents/Brokers
How are you different? You’re never going to unseat those dominating neighborhoods, cities, or zip codes by doing the same thing slightly better and cheaper. You need to be different, and that needs to address a problem for buyers/sellers. If buyers/sellers don’t know there is a different way, the solves a new problem for them — then you need to sell the “problem” you’re solving.
Have a good weekend.
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