TowerHouse, Inc. formed on a hunch in the summer of 2016. Something wasn’t right in residential real estate. Our premise, informed by more than twenty years of blue-chip corporate and commercial real estate experience, was that homeowners are digitally disadvantaged relative to other real estate constituent segments.
The more research we did, the more confident we became that our premise was, as TowerHouse, Inc. Founder Daniel O’Toole characterizes it, “more right than wrong”. In fact, our findings were startling.
- Homeowners are unwittingly underserved and overlooked in this modern wave of proptech / fintech digital renaissance
- Huge amounts of capital ($4 – 5B in 2017) are flowing into proptech but predominately it is being channeled to enable efficiencies at the transaction level (i.e., realtors and lenders)
- The ‘home information’ economy is empowering everyone but the homeowner
- Home information is highly fragmented and homeowners have little control over their data
- Homeowners do not have a safe place to independently and centrally track and manage the financial performance of their home
- Top-level, integrated, home financial performance metrics do not exist in any mature form
- The climate for homeowners is becoming increasingly predatory
Individually or collectively, these findings are compelling for anyone servicing residential real estate. For us, it is sufficient evidence that the homeowner digital gap needs to be closed. And we were just the team to do it.
We placed our bet in winter 2017 to develop and launch HomeEgg, a commercially relevant digital home management platform that enables homeowners to take control of the financial performance of their home and empower them to make informed decisions across all phases of the homeownership life-cycle.
The prize for us is the validation of our original premise and the opportunity to help re-balance the home information paradigm by redistributing home information back to the homeowner. Right where it should be.
We invite you to continue following our ‘Get to Know Us’ series and our progress to close the homeowner digital gap right here on LinkedIn. Our next topic will be “What Differentiates HomeEgg” focusing on how the HomeEgg platform is changing the residential real estate technology and information paradigm.