Taking innovation in real estate to the bank

Challenge

Some title that says something interesting

Do you have a proven track record when it comes to running experiments and strategies? Is innovation at your core and can you demonstrate expertise in leading projects as an innovation consultant or similar?

Connecting the perfect buyer with a realtor

For one of our clients, a large corporate in the banking industry, we set up a track to find out what could be the perfect solution to connect realtors and buyers of housing in the Netherlands.

The mission is to connect the perfect buyer with the realtor selling a certain building or house, since too many people are often interested in a house when it comes to a sale, but the ideal buyer could be too late since there are only limited slots for house visits or tours.

For our client, we tested whether realtors or buyers would be interested in this solution to get connected since the housing industry could be challenging for both parties. This track was all about solution-fit. Our client wants to make things easier for both parties with their idea.

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Our validation process

During this validation process, we wanted to test the desirability and viability for both the realtors and the buyers, therefore, we drew up our riskiest assumptions which we translated into testable and measurable hypotheses. An example of a hypothesis for the realtors’ side is this: If the platform provides generic, specific and historic buyer parameters, the realtor will be interested in using this platform on a daily basis. We set up all kinds of experiments to test our hypotheses. One of those experiments was selling a ‘fake house’ to find out if people would leave their personal information, including financial information since this data is most crucial. We set up social ads to test the desirability of the buyers as well. 

To test the realtors’ interest, we organized workshops to explain the tool and we interviewed them to find out their opinion. We created a landing page to test the desirability and we did the same for financial advisors. Another experiment we set up was a storyboard experiment to guide the realtor, the buyer and the financial advisors through the customer journey. We started validating our hypotheses to raise new funding for the next round of experiments. After we tested the solution-fit and the MVP, we took a new turn in the end; We set up experiments specifically for financial advisors since we expect them to invest more money in a solution like this.

Approach

Some title that says something interesting

Do you have a proven track record when it comes to running experiments and strategies? Is innovation at your core and can you demonstrate expertise in leading projects as an innovation consultant or similar?
Our aim was to test the desirability and viability of the service for both realtors and buyers, so we identified our riskiest assumptions and translated them into testable and measurable hypotheses.

“The validation process of Cosmos Collective was a true eye opening experience with such great insights and learnings, that we immediately want to validate our idea for several other international markets” 

JOKE - xxx at a banking corporation

PETER JANSSENS
Sales manager at pharmabox

Outcome

Some title that says something interesting

Do you have a proven track record when it comes to running experiments and strategies? Is innovation at your core and can you demonstrate expertise in leading projects as an innovation consultant or similar?

innovative thinking in the banking world

The result

It appears that three different personas are of extreme importance for the whole platform. First of all the buyers, need to be willing to share their personal and financial information so we can find out who would be the perfect buyer. Then the realtors are important since they have a central role between the buyers and the financial advisors. The last persona is the financial advisor since they pay for a high-qualified lead.

For the Netherlands, this idea was validated successfully. Currently, our client is setting up a comparable validation track in Germany. If it appears to be valuable enough to build it in Germany as well, our client will go on with the idea and will eventually start building it.

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Yannick Khayati

Yannick Khayati

Founder & Client Lead

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