Why Real Estate Commissions Are Stuck in the 1990s: João Calvete (Vendo)
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Why Real Estate Commissions Are Stuck in the 1990s: João Calvete (Vendo)
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In this episode of Independent Minds, we sit down with João Calvete, CEO of Vendo, a former Sotheby's insider who is "recoding" the traditional real estate model. João explains why the industry is trapped in a 1990s mindset, relying on high commissions and unnecessary bureaucracy and how his startup is scaling to 1,000 listings by cutting costs by 80%.
João takes us from the high-prestige world of Sotheby’s to a sweltering warehouse in Portugal, where he and his co-founders began making sales calls at 35°C with nothing but a fan and a vision. We discuss the "fear mindset" that big agencies use to protect their fees and why the future of property belongs to those who prioritize the client over the commission.
This conversation explores:
The 5% Efficiency Gap: Why technology like Idealista has made traditional agency fees obsolete.
The Portuguese Riviera: An inside look at the supply shortage and the influx of foreign capital.
Corporate Fear vs. Startup Pragmatism: How big firms create "attrition" to justify their presence.
The Pilot Mindset: Why João’s unconventional background allowed him to see the market differently.
Essential watching for property investors, tech founders, and anyone interested in how "outsider" logic can disrupt a stagnant multi-billion dollar industry.
⏱ TIMESTAMPS 0
0:00 • Introducing João Calvete and Vendo 01:30 • The Warehouse Grind: Sales calls at 35°C
04:00 • The Real Estate Explosion: Geopolitics and the Riviera Bubble
06:00 • Sotheby’s vs. Vendo: Breaking the "Fear Mindset"
07:45 • How the Land Registry works: The truth about Portuguese law
10:15 • Why the best talent is "disillusioned" with 90s agency tactics
12:00 • Rent-to-Income: The highest disparity in the developed world
15:00 • Maximizing the Algorithm: How to sell a house in 2026
17:30 • Scaling to 1,000 properties: Porto vs. Lisbon
19:40 • International Expansion: Dubai, Spain, and Brazil
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🔗 FOLLOW VENDO & JOÃO CALVETE
Website: https://www.vendo.pt
LinkedIn: https://www.linkedin.com/in/joaocalvete
Instagram: https://www.instagram.com/vendo.pt