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| Return of the Angel Investor |
Crucial Collaborations
Dennis T. Jaffe
04/01/2005
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Lois Landau founded the Sotheby’s International Realty office in Santa Barbara, Calif., and was its top-selling agent. She once booked $30 million in business in a single year and was asked to find and equip a retreat to be used by President Clinton and the First Lady. Then, at the height of her profession, she decided to give it up.
Throughout her real estate career, Landau struggled with the gap in the sales cycle that frustrates every broker—she had no way to remain in direct contact with her clients after closing their transactions. Although these customers were often the best source of future sales and referrals, she and others in her profession had no simple way to maintain these relationships.
So, in 2000, Landau set out to develop technology that made it easy to send targeted email marketing messages to real estate clients at opportune times. Despite her own business success, she realized that she needed financial backing, and sought out colleagues in the real estate sector who knew her and respected her work. These would be her angel investors, individuals who provided the capital and expertise to launch and guide her business in return for an equity stake.
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