Real Estate web 2.0 -- Brief Conclusion (whew)
Saturday, February 23, 2008 at 09:07AM To conclude all this RE web 2.0 series rambling, I’ll wrap it up with some observations.
I’ve received criticism for my objective stance regarding Greg’s post and the subsequent hoopla surrounding it. Although probably too vocal, I’ve been honest, so I’m satisfied. The whole conversation forced a reconsideration of ideas about RE.net in general. It’s forced a reevaluation of network building and a closer look at group behavior and how it affects reputation management.
As I see it, integrity and relationship building are the most important guidelines for the implementation of a business plan that deals with social/personal network marketing. This blog, my relationship with Bloodhound and Bigger Pockets and my participation on other blogs and RE sites, are all an effort to learn more about the RE profession and to build a referral network with RE professionals. A beneficial consequence of these efforts will be to make some friends, but making friends is not a primary aspect of the business plan. Respect as a knowledgeable RE professional who provides exemplary service is good enough.
Although chatting with people of similar interests and getting to know people is enjoyable, business is a primary focus and I take the internet seriously as the new vehicle to success and comfortable retirement. In many ways the Re.net is too small and incestuous for the purposes of my plan. Many of the blogs are informational with tidbits of tech and gadget news, or the latest from Zillow and the like but I can get that from a Yahoo pipe directly from the sources. The social aspect of these places seems pleasant but nothing special for my business.
Bloodhound is on track to transcend the smallness and limitations of the typical RE blog, reaching out to the wider world of marketing and politics and the social meaning of blogging and networking, which is the direction that seems best, for in a sense everyone is a potential prospect, not just RE junkies who visit each other on a handful of blogs. It will take a special message to attract a wider audience, create a more far reaching sphere of influence. It’s one reason when I advertise in print, I avoid the RE mags and go for mags with general readership – it sets the message apart and almost everyone will have real estate needs, whether it’s present, soon or later.
Plus, the group dynamics of RE groups, presently, are far too clubby and defensive to be practically useful and challenging. I prefer a hardcore learning environment where honesty is more important than popularity and social status.
As marketing venues, Zillow and Trulia and the rest are good for listings, but for someone who wants to market buyer agency and relocation services they are fairly useless. I want to place my money where I can get the exposure necessary to brand expert services targeted at the burgeoning baby boomer movement and it may be found outside the RE specific sites, or through the players that make progress toward web 3.0. As for the RE sites, Active Rain is in a position to leverage its traffic, not to mention monetize their efforts, to create value for local, experienced brokers in a win/win partnership. I have ideas if anyone is listening.
Overall, I believe the RE web 2.0 experience is in a state of flux and experimentation and time will tell how it all shakes out. It is time to get over the awkward social stage and develop value sites that are beneficial to users – sites that go beyond the present limitations and add value to the greater conversation going on. Squabbles are okay, but there is business to be done.
Reader Comments (10)
Good article Mike. Real estate blogs are growing enourmously, but their quality is doubtful.However, there are so many tools and ideas how to create something really great, but only few really good websites are surviving long enough to attract attention. I am working as a Vancouver ReMax realtor and I consider internet being the biggest "weapon" on the real estate field today. But it is a very complicated weapon to use...
Vancouver,
I agree with that. It's enormously powerful and enormously diffuse at this point. I've been tossing around in my head the idea of a super-site that i will write about soon.
I'll check out your site.
> As for the RE sites, Active Rain is in a position to leverage its traffic, not to mention monetize their efforts, to create value for local, experienced brokers in a win/win partnership. I have ideas if anyone is listening.
> I've been tossing around in my head the idea of a super-site that i will write about soon.
If prose be the seed of reason, say on! I crave excess of it!
Hi Mike, I've enjoyed your stuff this past week. Thank you for being honest.
At Inman Connect in January, Lockhart Steel said; "blogging's a great way to make things happen indirectly." Undoubtedly the greatest of those things is friendship. But it's important to not get distracted from your direct intent while enjoying the side effects. Your post's a great reminder of that. I believe in Granovetter's Strength of Weak Ties and all this makes me think it's possible to weaken some of those ties while strengthening them as you find friendship in blogging. Come to think of it, that's often true of close personal relationships in the workplace. Another observation of yours I'd like to echo; defensiveness is absolutely at the root of all blog-wars and blunders. Arrington vs. Wilson was also hilarious this past week. Taking it personally? Step away from the publish button. Easier said than done. Some are better at it than others.
On Zillow's usefulness to your marketing strategy; I do think EZ Ads allow a lot of flexibility and they come with great local targeting. Engaging copy or a clever graphic should attract buyers. There are movers on Zillow (we algorithmically target ads to movers for national campaigns.) The neighborhood and city pages are getting much more traffic now that they're linked from the map; both EZ and photo's would work there from a relo targeting perspective. We plan to do a buyer's agent's VSS (virtual sold sign) but it'll take a while to get to that (though the constant requests are helping to prioritize it.) Any suggestions? I'm listening :-)
Have a great weekend.
Greg, as soon as I get my thoughts on this organized I'll post my ideas regarding a super site and the potential I see in a like Active Rain. Thanks for the support.
Hey, David. Thanks for stopping by. I guess my biggest obstacle with Zillow is the forum, but that can be overcome. On one hand I think it is good to allow consumers a place to tlk freely about buying, selling and the industry in general, on the other hand it can be a bully pulpit for the more fanatic voices that I think run off the more sane, objective voices. Most people just don't have the time and the energy to compete with looniness.
Forums attract loonies. I wish you had created a group blog instead, but you may have the same problems.
I've tried the EZ ads and no doubt I didn't jazz it up enough, because it hasn't been very effective. I think what I'm looking for, though, is more than ads, it's a place, or places, that are more connective with the consumer.
When I get my thoughts organized, like I was telling Greg, I will put it all down in a post that should be relevant to what y'all are doing at Zillow.
It seems to methe next step in RE sites will have to be a giant step, and I'm not sure if present mental models will allow most companies to take this step. To be seen as a partner with evil agents will take an enormous leap of faith.
The first question that will need to answered is if RE professionals are going to be a part of the Master Plan in a real and significant way, or are we witnessing the gradual displacement of agents. Will Re professionals have to create their own new way across of the web, or can true partnerships be built with existing companies like Zillow. This is what I'm organizing in my mind.
To compete or cooperate, that is the question.
Mike -- The point of your post has been my mantra since Day 1. Well said, clearly stated, and much appreciated by folks like myself.
On another topic altogether, there's potential for you and I to create some synergy. When you have some time, email me and we'll get a conversation going.
Thanks again for saying so much of what needs saying.
Will do, Jeff. I look forward to it.
"The group dynamics of RE groups, presently, are far too clubby and defensive to be practically useful and challenging. I prefer a hardcore learning environment where honesty is more important than popularity and social status."
Can I get an Amen?
Just had a long conversation with my my Indiana colleague along these same lines. We've been in the same networking group for several years now and the cutting edge has been reduced to clubby.
Is this something that occurs when a group becomes too large?
Kathy,
Getting large might have something to with. Maybe it's human nature and a concerted effort has to be made to avoid it. Usually, groups get large, get clubby, a controversy starts, sides are taken, then a split and another group starts -- then it gets big, gets clubby...
Perhaps it can accomplished if at the beginnin everyone is in agreement they should do a group inventory every month to see how the group is functioning.