Startups are all about removing the middleman to save its users money, and feeDuck, one of the pitches on this week’s episode of The Disruptors, is no exception.
feeDuck is an online marketplace where real estate agents compete for business from homeowners selling property in a 24-hour auction. Homeowners disclose details about their home on the site, while real estate professionals bid down their commission rate for your business. The company has processed 20,000 transactions since its launch in January 2015.
“Real estate agents love feeDuck because we have all the home sellers in our system who are ready to buy now. Agents spend thousands of dollars blanket marketing neighbourhoods, looking for homeowners that are ready to sell. And we have them all right now,” said Sharn Kandola, co-founder of feeDuck.
Co-host Bruce Croxon joked that his real estate agent friends were probably shedding a tear. “To me, it’s part of a growing trend that if you have broker in your name, you’re going the way of the dinosaur as consumers get more articulate and capable, through technology, of doing their own thing.”
Co-host Amber Kanwar said that technology also makes these industries more transparent. “It democratizes things, so if I’m not a good negotiator, that doesn’t matter because then I just have to go on a platform and they bid for my business.”
Watch the whole pitch below:
BetaKit is a production partner on The Disruptors. Tune in to BNN every Thursday night at 7pm for full episodes!