Anthony Dominguez | CREtech

Anthony Dominguez | CREtech


Commercial real estate and start ups.

February 2016
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Anthony Dominguez | CREtech

Who’s Hiring? – REtech Jobs Edition

AnthonyAnthony

In case anyone needs more validation that the REtech space is in the midst of an exciting period of innovation, then check out who’s hiring – hint, it’s almost everybody. If you’re thinking of career changing into a REtech job, then I got your back.

REtech is really competitive for attracting talent, at the time of this writing there are over 1,500 job openings. Before you quit your brokerage job to reinvent your career, let’s take a look at why this industry rocks.

For starters, workflow automation software and smart building technology have proven ROI, startups are flush with cash, real estate is no longer an alternative asset class and is projected by some to reach as high as 20% allocation of institutional portfolios from the 8.89% now, CRE technology spend is approximately 3.0% of revenue and has room to grow before reaching financial technology spend of 5.7%.

At the moment, there’s probably no one more familiar with the current CREtech financing and job market than Rich Sarkis, Cofounder of Reonomy. The company recently closed a $13M Series B financing with lead investors Bain Capital and Primary Venture Partners. Venture capital is clearly saying CREtech has reached the prime time; Rich explains why you should too:

Commercial Real Estate represents the last great bastion of the global capital markets ecosystem. This is a market that has seen very little disruption and innovation through technology. When you combine the sheer size of this multi-trillion dollar asset class, the ability to solve real pain points for thousands if not millions of customers, and the opportunity to get in on the ground floor you have something really special. High talent folks are starting to figure this out and take notice. – Rich Sarkis, CEO of Reonomy

The Reonomy team is wasting no time hitting its user acquisition stride and hiring the best talent. Just a year ago, Reonomy was a 12 person team but now the head count is over 40. Tech industry veterans are catching on too, Chris Fischer formerly of Shutterstock where he was VP of Technology Operations from inception to IPO is now Reonomy’s CTO and Brooks Pettus recently joined as the companies first COO.

For those coming from outside of the RE industry there can be a learning curve to domain expertise. To overcome this challenge, Reonomy has implemented an employee onboarding process whereby company values and product/domain expertise are transferred, plus the employee welcome wagon includes company lunches, sweet Flatiron office space… oh yea and I hear a company bar is on the way.

Now that you’re sold on joining a REtech startup for the opportunity or the perks, where should you work? Well, I have some data for you… I collected ratings from Glassdoor, salaries and equity from Angel List, and openings from company sites. For a copy of the original analysis, hit me up: @tonydominguez or check out the raw data.

REtech Jobs

REtech jobs by the numbers

Business Development, Finance, DevOps, or Data Science

Airbnb is hard to beat. At a massive scale they have kept a 4.5 employee rating on Glassdoor and above average industry salaries.

Favorite Glassdoor Review:

“The food program is unrivaled and very well balanced. Every meal is made in-house with a variety of options (ie vegetarian, gluten-free, etc). “

Role Avg Airbnb Salary Avg Industry Salary
Biz Dev $84,000 $63,000
Data Science $119,000 $99,000
Finance $101,000 $75,000
DevOps $136,000 $99,000

Customer Support

Appfolio has a 4.5 Glassdoor rating and slightly above average salary of $42,000. They might have the best Glassdoor review too…

Role Avg Appfolio Salary Avg Salary
Customer Support $42,000 $41,000

Favorite Glassdoor Review:

“I’m really not sure where they have found THIS MANY upbeat, intelligent, hardworking, and all around awesome people, but it feels like stepping in to the twilight zone of happiness. “

Design, Product

Managed By Q isn’t messing around when it comes to hiring savvy designers at a $140,000 salary and 0.10% equity component but if vested interest is more your thing than FLUX offers $125,000 with 0.30% equity. Can’t go wrong either way when industry average is $100,000 and 0.15% equity.

Role Avg Q Salary / Equity Avg Industry Salary/ Equity
Designer $140,000 / 0.10% $100,000 / 0.15%
Product $175,000 / 0.10% $137,000 / 0.14%

Product jobs are where things get interesting, $175,000 salary and 0.10% equity vs $137,000 industry average salary and 0.14% equity.

Favorite Glassdoor Review:

“Q is a great place to work if you want to have an impact.”

Software Engineer

RealtyShares and LendingHome are offering $150,000 average salary vs industry $104,000. SWE’s know their worth, so OppSites is offering 1.50% while Snapdocs and WorkOrder.es are offering 1.00% equity for early engineers.

Role RealtyShares Salary / Equity Industry Salary / Equity
Software Engineer $150,000 / 0.30% $104,000 / 0.37%

Favorite RealtyShares Glassdoor Review:

“The revenue growth leaves no doubt about the product-market fit.”

Marketing

HomeLight has a perfect 5.0 Glassdoor rating and provides $100,000 salary vs $63K industry average. However, HomeLight is “light” on the equity portion with 0.2% while WorkOrder.es is 1.00%.

Role HomeLight Salary / Equity Industry Salary/ Equity
Marketing $100,000 / 0.20% $63,000 / 0.50%

Favorite HomeLight Glassdoor Review:

This is a startup, so something new and challenging every day. Probably not for those looking for a “normal” 9 to 5 job.

Operations

TheSquareFoot has a $112,000 average salary vs. $61,000 and yet another perfect 5.0 Glassdoor rating – notice a trend? To make things sweeter, the equity is 0.20%, which is slightly above the average of 0.13%.

Role TheSquareFoot Salary / Equity Industry Salary/ Equity
Operations $112,000 / 0.20% $61,000 / 0.13%

Favorite Glassdoor Review:

“Very agile and driven company with talent at all levels.”

Sales

Established CMBS data provider Trepp is offering the best salary in sales at $120,000. If it’s startup equity you’re looking for Snapdocs salary is $100,000 with 1 point of equity, not a bad deal.

Role Trepp Salary / Equity Industry Salary/ Equity
Sales $120,000 / 0.00% $66,000 / 0.17%

Favorite Trepp Glassdoor Review:

“I love that there are a number of women who work in upper management/executive positions, including the CEO.”

Lastly, here are a couple more companies I would still consider given these Glassdoor reviews…

Apto:

The company has a strong leadership team and a unique company culture that goes beyond “we do happy hours.”

RealtyMogul:

The stock has gone up 50x since I started and is going to make me pretty wealthy. I even got an unsolicited second stock grant from the CEO for my performance.

Matterport:

(Revenue + Funding + Talent) x (Lots of Unsolved Problems) = Huge Opportunity

Now get your resume out there and tell them I referred you 😉

Airbnb
AppFolio
Apto
Aquicore
Architizer
Argus Software
AssetAvenue
Auction.com
Brevitas
CommonFloor
Compass
CompStak
CoreLogic
CoStar
coUrbanize
CrowdStreet
Curbed
DebtX
eBrevia
FieldLens
Floored
FLUX
Fundrise
Genea
Hightower
HomeLight
HonestBuildings
IndoorAtlas
IrisVR
Lenda
LendingHome
LendInvest
LiquidSpace
Lovely
Managed By Q
Matterport
MetaProp
Mission Capital
MRI Software
MyVR
officespace.com
Opendoor
OppSites
onefinestay
Patch of Land
PeerStreet
PiinPoint
Pillow
PlanGrid
propertybase
PropertyShark
ProspectNow
Real Capital Analytics
RealDirect
realogic
realpage
RealtyMogul
RealtyShares
Redfin
Reesio
REIS
RentHop
Rentlytics
Reonomy
REscour
ResiModel
REthink
Roomi
ShareDesk
SiteCompli
Snapdocs
Storefront
TheRealDeal
TheSquareFoot
TransitScreen
Trepp
triplemint
VTS
VivaReal
Voyanta
WeWork
WiredScore
WorkOrder.es
Xcelligent
Yardi
Zoopla
Zumper
Zillow

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