In our latest real estate tech entrepreneur interview, we’re speaking with Eric Tseng from PadScouts.
Without further ado…
What do you do?
I am the Cofounder and CEO of PadScouts. We empower the industry’s top technology stack to maximize their sphere of influence and prioritize conversations.
What problem does your product/service solve?
When real estate professionals buy ads from Facebook or Google, they’re able to target specific audiences (i.e. interested in real estate, baby plans, specific demographics, etc.). But, they have no access to the marketing data profiles of individual people that the marketing companies possess. Now, with just a phone number or an email address of a contact, real estate professionals can know how marketing companies see their personal and professional contacts in PadScouts’ SOPHIE mobile app. We provide easy access to this data in their hands.
What are you most excited about right now?
Letting real estate professionals learn about consumer data and how it can be implemented into their businesses. That’s why we’re providing our product free to anyone who wants to understand data. I learned quickly that a lot of real estate professionals don’t understand and, therefore, can’t picture how data can be used in their businesses. Now, there’s no excuse for not using it because our Starter tier is free forever. By giving our product away, I think it’s the best way we can learn together and create a truly meaningful product. There’s a big opportunity that exists for real estate professionals right now. With all the buzz around iBuyers and large technology companies threatening to take over the real estate industry, I’m long on the the agents’ advantage over their tech competitors. Real estate transactions are complex and can come with a lot of risk. Defusing that risk and stress by going through a trusted professional is still the simplest solution for consumers. If real estate professionals utilize the right tools to get in front of their sphere of influence before an iBuyer’s ad gets to them, they have the edge over the large tech entrants.
What’s next for you?
Continue to improve the product and to add more data that’s relevant to real estate professionals. Our goal is to receive enough feedback from professionals to create a truly valuable tool and to eventually use the data to create buyer/seller predictions. At PadScouts we wanted to provide a product that provides a lot of value first (easy access to data used by the top marketers in the world) and then start to work on our predictive models so that it will be even more useful for professionals in the future.
What’s a cause you’re passionate about and why?
I am passionate about serving my country. Prior to getting into the technology scene, I served six years in the U.S. Army and I continue to serve in the Army Reserves. I immigrated to the U.S. when I was very young and have always felt a debt a gratitude to it. It only felt right that I should serve, as a way to appreciate the opportunities that have been made available to me.
Thanks to Eric for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).
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