Google has set the standard for Web 2.0. To be competitive on The New Web a Website has to follow the basic rules set down in the Google Playbook. You need to give searchers:
- More content than they want or could use (Content is King)
- Give it to them Immediately
- Give it to them for Free
- Without giving up your Personal Information
- Google Business Model: Free Content > Drive Traffic > Sell Ads
Are there lessons Real Estate, the NAR and Realtor.com can learn from Web 2.0, Google and The Google Playbook? Plenty. If we'll look and listen and try.
Searches on Microsoft, Yahoo, AOL and Ask together don't equal the number of searches on Google.
But Google doesn't do everything well. When Google missed the boat on Internet Video, they bought YouTube, the acknowledged "Google of Internet Video" for $1.65 billion (albeit in Google Stock).
In the run up buzz to their YouTube purchase, Google's market capitalization grew by more than $1.65 billion. And when Google announced they surpassed Wall Street sales predictions for the quarter, Google's market value rose by over $5 billion (that's billion with a "G").
Other targets on Google's Radar Screen are:
- Blog Search: Technorati is "The Google of Blog Search"
- Social Networking: MySpace is "The Google of Social Networking"
- Real Estate Search: Zillow is "The Google of Real Estate Search"
- Local Search: There is no "Google of Local Search". Yet.
- If, All Real Estate is Local, Real Estate Search may be Google's key to Local Search too.
Who will be Google's next YouTube?
The Mantra of Realtors 1.0, NAR 1.0 and Real Estate 1.0 is "Location, Location, Location". The Mantra of Google, Web 2.0, Zillow and Real Estate 2.0 is "Traffic, Traffic, Traffic."
NAR's, Realtor.com's and Real Estate 1.0's vision is "Hide our data. They will come. They'll have to." The vision of Google, Zillow and Real Estate 2.0 is Google's stated vision to: "organize the world's information and make it universally accessible and useful". Whose vision are you one with?
The NAR just lost its first skirmish with the DOJ. The judge decided not to throw out the DOJ's case against the NAR keeping our data hidden. The Michigan MLSs just caved to the FTC suit against the MLS's trying to keep their data hidden. If we Realtors continue to follow our NAR, our MLSs and our Realtor.com; we won't just be swimming up stream; we'll be swimming up the wrong stream.
When will we Realtors learn, we can't play "Hide-And-Go-Seek" with our listing data or with home buyers and sellers anymore? How much of our NAR and MLS dues will go to fighting loosing battles against the DOJ, the FTC, the Discount Brokers, and the Search Engines? Who wants to fight City Hall and Google? Who has the money?
Let's spend our money on developing The Best Open National MLS. Let's let home buyers search for a home in every way possible, as fast as possible and in the easiest ways possible:
- Just like we search for everything else on Google.
- Just like we look for all the conveniences of the Modern Home Search.
- Just like we expect all the features from Google Playbook Search.
Happy Searching.
WebHomeUSAblog; The Blog of Real Estate Search Marketing
Fantastic article. You nailed it right on the head. You put my exact thoughts into a will written, well cited, post... Bravo.
The NAR and the MLS systems are definitely going to need to get a clue in the next few years, or the Google of Real Estate, whoever that may be, will be running a national MLS that will put them out of business. The NAR rests on their laurels and scare tactics... that won't last forever.
Once again, well said.
Posted by: Trevor Smith | December 01, 2006 at 05:40 PM
If I had to pick Google's next acquisition, I'd bet on Craigslist.
Posted by: Robert Melton | December 19, 2006 at 12:33 PM