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(5) – Revenue from the Labour Market?
Continuing from the last post, after wrapping up the SaaS revenue stream, Reza shifted to the other two sources of income: the labor market and the vendor servicing market.
He asked, “Have you heard of VAs?”
I chuckled. “Come on, anyone in real estate knows about Virtual Assistants. We’ve all considered it at some point. Hiring remote workers from the Philippines or other English-speaking Southeast Asian countries for just a few dollars an hour is pretty standard for real estate entrepreneurs. Most of them have VAs—always on the phone, working on routine tasks. It’s nothing new.”
“Exactly!” he said. “Our bot is currently replacing VAs, so there’s no concern about impacting local jobs. In fact, even VA companies see how useful our product is. Some have even approached us to become resellers so they can offer our bot to their clients! Right now, the bot can handle about 70% of the work, leaving only 30% for the VA. But eventually, as the bot improves and takes on 95% or more of the workload, there won’t be much left for VAs to do. That’s why these VA companies feel threatened and want to integrate our bots as part of their survival strategy for the future. 😂”
I laughed. “Classic case of if you can’t beat them, join them! But people aren’t fools. It’s obvious: today, you’re replacing VAs. Tomorrow, you’ll likely replace property management staff and local coordinators. You can’t claim it won’t affect jobs. 😂”
He laughed too. “That’s why I mentioned earlier that the labor market is a massive opportunity for us. Just capturing 2% of it already represents $1 billion. But, yes, it’s sensitive, so we don’t make it a focal point in our messaging. That said, it’s inevitable. It’s only a matter of time. However, for property management companies, our product isn’t about replacing them—it’s about enabling them to expand more effectively. With our solution, they can manage and acquire more units with less money and manpower. For them, it’s not a threat; it’s a growth strategy. Of course, the people working under them might feel the pinch.”
He continued, “The real revenue potential, though, lies in the vendor servicing market. Remember I mentioned that $1-2 trillion of work annually, where 40% of the costs go to intermediaries? Just imagine how massive that market is! We’re only scratching the surface. Till next time!