For almost two decades Barbara Corcoran has made a career out of helping other people buy their dream homes. Now she wants those same buyers to have something of her own.
The Million Dollar Listing Star, who stars in Channel 4 series Million Dollar Listing New York, wants to launch her own online estate agency.
“I hate waiting,” said Ms Corcoran, “and I think most people probably do too. So the idea is, let’s show you how to build it from scratch.”
Real estate has become a hot sector for the so-called “new economy” – firms that are upstart and don’t yet have a market capitalisation on the stock market. In the past decade, venture capital investments in the sector have risen fivefold.
Citigroup last year invested $150m in Facebook, valued at $10bn; and Amazon launched a retailer which already had $3bn in annual sales.
But as more money starts flowing into these companies, some investors are worried about a bubble forming, says Sasha Prishtina, managing partner of Rapid7 Capital.
“It’s not just another technology company,” he says. “It’s actually a new way of life.”
The firms typically offer similar products, and share similar characteristics to many consumer internet ventures, but the difference is that with these businesses, you can’t simply switch a business model like you can with a webpage.