Rude Property Entrepreneurs Infuriate The Dragons | Dragons' Den
Dragons' Den・8 minutes read
Richard Williams and Gila Strander are seeking a 50,000-pound investment for a 20% equity stake in Realtor Network Limited, proposing a commission-based model for the UK real estate industry. Despite interest from dragons like Duncan Bannatyne and Deborah Meaden, concerns about viability and entrepreneur capabilities lead to no investment, with Theo Paphitis underscoring the significance of people in business success.
Insights
- Richard Williams and Gila Strander are seeking a 50,000-pound investment for a 20% equity stake in Realtor Network Limited, proposing a shift in the UK real estate industry to a commission-based model with an active sales force and a multiple listing system.
- The Dragons, particularly Theo Paphitis, emphasize the critical role of capable entrepreneurs in business success, leading to doubts about investing in the venture despite initial interest, highlighting the significance of the team's capabilities in securing investments.
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Recent questions
What is Realtor Network Limited seeking?
Investment
How does the proposed business model aim to change the real estate industry?
Shift to straight commission model
What is the commission structure proposed by Realtor Network Limited?
Agents receive 0.75% for selling a property
What concerns do the dragons express about the business model?
Viability and practicality
Why does Theo Paphitis decide not to invest in Realtor Network Limited?
Doubts about entrepreneurs' capabilities
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Summary
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"Dragons Doubt Real Estate Business Viability"
- Richard Williams and Gila Strander seek a 50,000-pound investment for a 20% equity stake in their real estate business, Realtor Network Limited.
- The business model proposed involves shifting the UK real estate industry to a straight commission model with an active sales force and establishing a multiple listing system.
- The commission structure entails agents receiving 0.75% for selling a property, with the first agent getting half and the second agent receiving the other half.
- Despite initial interest, the dragons, including Duncan Bannatyne and Deborah Meaden, express concerns about the viability and practicality of the business model.
- Theo Paphitis highlights the importance of people in business success, ultimately deciding not to invest due to doubts about the entrepreneurs' capabilities.
