Malcolm Myers, the Founder & CEO of European Internet Ventures, has 12 years of deep experience in classifieds under his belt. Last week, he spoke in a video call for The Global Online Marketplaces Summit with Simon Baker where he revealed his thoughts on current classifieds business models and the future of value creation.
In his presentation, Myers tackles three themes surrounding the real estate transaction sector:
Myers asks the question, which is the right model to better exploit the biggest market opportunities?
He explained the differences between the three types of websites got buyers and sellers within the real estate industry.
When adding values like how much information a platform offers, if it allows for price comparison, if there is an online transaction option, online payment capabilities, insurance technology, curated living options, and property management, the hierarchy of least capable in offering these features to offering all of these features is classifieds, then marketplaces, then rental platforms.
Myers suggests that a way to improve upon a business model is to look to the bigger names and what they’ve been able to accomplish with technology and how that has helped growth.
You can rewatch Myer's talk from The Global Online Marketplaces Summit as well as videos of all of the other speakers on our Youtube channel here.