Over the past few months, 42Floors has experimented with being a brokerage in addition to being a commercial real estate data and search website. We’ve decided today to stick with what we’re best at: providing a great online search experience for commercial real estate.
While we enjoyed working with clients directly and helping them find office space, we’ve come to realize that a startup can only be great at one thing. And for us, that’s being a commercial real estate search platform that is powered by accurate data and a passion for design. We want to scale quickly across the country, and we can’t do that while also focused on a being an on-the-ground brokerage.
One of the best parts of our attempt at being a brokerage was working closely with the brokerage community to get deals done. We’re going to step decisively away from that model now and focus only on providing a great search experience. We’ll leave the deal closing to the professionals.
Over time, we’ll develop our new business model, which will be based around premium listing opportunities for those that want greater exposure to tenants. But for now, 42Floors remains free to search and free to list.
During this transition, we’ve had to say goodbye to some wonderful teammates. We’ll miss you and thank you for all your hard work. It’s awful to get a strategy wrong, most especially because it means no longer working with such talented people.
To the brokerage industry that may be exhausted from seeing our startup try new things, all I can say is thank you for your patience. You do great work and we’re excited to play a much more clear role in specifically helping you market your availabilities.
Finally, to our tenants, we’ve loved working directly with you. While we’re no longer going to be an active brokerage, we still want to provide you a fantastic search experience. We’re also looking forward to launching 42Floors in more cities so that more people can search for commercial real estate online.