News Highlights

SP: What did you do before launching New Condos Online?

NCO: Brent was born in Dallas, TX and lived there throughout his undergraduate education. He attended Southern Methodist University earning a BBA in Finance. He also studied English and history at University College in Oxford, England. Upon graduating from Southern Methodist University he accepted a position with Trammell Crow Company as a financial analyst within a commercial real estate services group. After a year, he left Trammell Crow and joined the United States Navy to become a Navy SEAL.

Brent completed training and was assigned to SEAL Team Five in Coronado, CA. He was involved in the planning and execution of over one hundred successful combat missions during deployments to Iraq during Operation Iraqi Freedom. He also completed numerous clandestine missions in Africa before separating from the Navy.

After Brent was honorably discharged from the U.S. Navy, he earned a masters degree in real estate from the University of San Diego. During the program, he was awarded the John Burnham Foundation Scholarship and he was inducted into the Alpha Sigma Gamma International Real Estate and Land Economics Honorary Society. Brent also worked for CB Richard Ellis in the office leasing division. New Condos Online was launched in June 2005 and his efforts have been in growing the company into a successful real estate resource for builders and homebuyers alike.

Brandon was born in Philadelphia, PA. He attended Emory University where he received his BBA in Finance. Brandon also attended the London School of Economics. While in College, Brandon started two internet companies in the technology field. He began working as a business analyst for Deloitte Consulting in Atlanta, GA upon graduating from Emory. Brandon spent time working on consulting projects for companies such as Coca Cola and The Home Depot.

Brandon became involved in real estate investing and moved to San Diego, CA where he attended The University of San Diego and earned his Masters in Real Estate. Brandon was inducted into the Alpha Gamma Sigma International Real Estate and Land Economics Honorary Society. Later, Brandon teamed up with Brent Gleeson to launch New Condos Online.

SP: I hope you don't mind me asking, but how old are you guys?

NCO: Brent is 29 and Brandon is 25.

SP: What type of service\products does New Condos Online offer?

NCO: NewCondosOnline.com is the largest national advertising and lead generation portal of its kind on the Internet where builders showcase new condo, townhome, loft, resort, and mixed-use developments. We offer online advertising solutions to builders and the premier resource for homebuyers and investors to find and compare new condos, townhomes, and lofts. NewCondosOnline.com offers additional services to builders through our affiliates as well as loan pre-qualification to homebuyers.

SP: How did you guys meet before starting New Condos Online?

NCO: We met in grad school at the University of San Diego (Burnham-Moores Center for Real Estate) while earning masters degrees in real estate.

SP: Can you tell about the business model for New Condos Online?

NCO: Builders pay monthly advertising fees. Through local and national advertising and PR campaigns we provide our client`s new projects with exceptional exposure to potential buyers, which in turn accelerates the sales momentum. The turn-around time for servicing our clients is always less than 24 hours…customer service is our top priority.

SP: What was the most difficult part of launching New Condos Online?

NCO: Working with our web developers!!

SP: What sets New Condos Online apart in the real estate industry?

NCO: NewCondosOnline.com was the first and is the largest national advertising and lead generation portal for the attached (for-sale) housing industry. Due to the fact that 80% of people now use the Internet as their primary search tool in finding a new home, builders are beginning to realize that an Internet presence is absolutely crucial to capturing the largest potential buyer base as possible. NewCondosOnline.com exists to bridge that gap between builders and buyers.

SP: What kind of start-up costs did you encounter when launching New Condos Online.com?

NCO: Website development and search engine optimization. The overall start-up costs were relatively low. We raised an initial small round of funding to get started.

SP: What are your plans to expand your business as the real estate market is predicted to level off soon?

NCO: Our business model is such that it survives during a down market. Builders will continue to need an inexpensive but effective means of advertising to generate buyers for their properties. NewCondosOnline, Inc. has also partnered with major investment firms that provide alternative financing models to builders. This will be increasingly important as it becomes more difficult for builders to obtain construction loans and financing from the banks.

SP: How did you attain that massive client list that you currently have? How much work was involved in securing these developers and other real estate industry proprietors?

NCO: The work involved in obtaining our client list was substantial. Research, cold calling, and strategic partnerships have been the key to our rapid growth.

SP: How important was your education to New Condos online?

NCO: Our masters program at USD (Master of Science in Real Estate) was a highly valuable part of our success. We now can proudly introduce our selves as real estate professionals (which our clients love), not web geeks! Part of effectively selling our product is knowing the real estate industry and being able to "speak the language". For me (Brent), having spent four years in the military and fighting a war, it was the perfect transition into the business world.

SP: How do you maintain a healthy business partnership?

NCO: The part of our success is that Brandon and I are highly competitive. We compete in sports, working out, and most importantly…work. We actually subconsciously compete with one another to see who is working harder in making our company grow. We start working at 6 am and don`t stop until every client`s needs are met, and every task for that day is done. We keep it fun and casual. As long as we are disciplined and organized, everything else falls into place.

SP: How is all of the housing data gathered that is available on your website?

NCO: Property information is provided by our clients (builders) and their representatives (marketing firms and ad agencies), as well as through strategic partners.

SP: How will the strategic partnership that you formed with The Ryness Company, one of the largest new home sales and marketing firms in the country affect your business?

NCO: We have built a great relationship with the CEO, Ed Monce, who is former Navy as well. Our companies are so well aligned that the partnership was an easy decision. The Ryness Company brings incredible value and credibility to NewCondosOnline, Inc. and we plan to grow together across the country. The partnership will bring many new builders and properties to our website, and in turn create many more housing options to our users. Of course, the partnership will also substantially affect our bottom line!

SP: How many paid employees does New Condos Online.com have?

NCO: We currently have a team of five, and plan to grow that number to about eight, by the end of the year. This of course does not include our board of advisors and legal team.

SP: What type of business entity is New Condos Online.com and why (i.e., LLC, S-Corp, etc.)?

NCO: NewCondosOnline, Inc. is a Delaware "C" Corp. We were originally set up as an LLC in California but recently changed to a Delaware "C" Corp. We are bringing on more investors and creating an advisory board. Acting as a Delaware "C" Corp allows us to sell shares in our company to investors and also prepares us to eventually be acquired some where in the future.

SP: What is the most rewarding part about running New Condos Online.com?

NCO: The most rewarding parts are watching our hard work pay off, seeing clients satisfied, and seeing the company grow.

SP: What inspiring entrepreneurial advice do you have for people who are about to start their own businesses?

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