by G. Sax, Director of Growth Management, RESO
Welcome to “Three Questions,” an interview series that introduces you to real estate industry professionals, their businesses and how they interact with real estate standards with a goal of humanizing the tech side of the industry, fun included.
This week, we got a quick run in with Chris Drayer, CEO and Cofounder of Revaluate. We talked about business models (said Ross from Friends, “Pivot!”), advancements in floor plan tech and running. Enjoy!
Q1: When I first talked to you about Revaluate at its origin, you were gathering up data from things like elevator permit records. How has the business changed since its infancy, and what does it take to evolve and pivot successfully?
Chris: We started by selling to individual real estate agents and then grew it to brokerage.
Then, brand organizations and mortgage companies came to us, and we started working with an ad agency and insurance agency. It’s all the same vertical if you think about it, as long as it’s all related to the housing transaction.
Our base is now all enterprise. We pivoted from agents to corporations, and it’s been an excellent ride over the last nine-plus years.
Q2: When I first met you, you were Mr. FloorPlanOnline to me. You spent eight years with that company. Do you still follow that space and its advancements, and do you feel like you were too early in that market in terms of technology?
Chris: Yes, I still follow it. Yes, I was too early. I have an interest in that space in terms of data. Some good companies are assembling wonderful databases of floor plans, and that is exciting.
Q3: I follow you on the Strava app, and you are one of my running heroes. You can run a sub-9-minute mile for more than 10 miles. That is outstanding. I’m lucky if I get out once per week, and I haven’t run 3 miles in a sub-10-minute time in years. Have you always been a runner, and what does it take to maintain that kind of consistency?
Chris: Strava helps because it gives you accountability. It pushes me, no matter where I am, and it’s fun!
But the reasons are also selfish. For example, I love craft beer. But because I want my wife to stay with me, I run to stay in shape.
It’s a data thing, too, right? You get to see how random strangers are doing on trails that you run. It creates a healthy sense of competition and achievement. The times don’t matter nearly as much as getting out there and doing it, but knowing the times against others isn’t a bad motivator.