Like it or not; we're deep into Web 2.0 and Real Estate 2.0. The Internet went public in 1996, and 10 years later 80% of home buyers start their home search on the Internet.
What's an Agent to do? Where are we? Where are you?
For the 5 years preceding 2006, Real Estate rode the wave, of the low interest rates to lift the economy after 9/11, to all time highs in home sales and home prices. When you're fat and happy, who wants to change?
But, who will provide leadership into Real Estate 2.0? And who will provide followship? Who are the "Deciders"? And who are the "Decidees"? Can we trust our future to the Real Estate 1.0 mentality of NAR, Move Inc and Realtor.com?
With everything Real Estate 2.0; the NAR, Move Inc an Realtor.com seem to be "A day late and a dollar short." What's worse is, they're our days and our dollars. Can we wait for our leaders to lead?
Can the business model playbook of Real Estate 1.0:
Build Websites > Charge Agents > Hide data > Hope/Pray for leads;
ever compete with the Google, Zillow and other Web 2.0 business model playbooks:
Free Content > Drive Traffic > Sell Ads?
Can the "hidden-data/ Invisible Web" beliefs, philosophy and playbook of Real Estate 1.0 coexist with Google's stated vision for Web 2.0 to: "organize the world's information and make it universally accessible and useful"?
Before its first Birthday, Zillow, without getting a commission for selling one house; provided free home estimates for over 60 million houses, in seconds; started the most successful Real Estate Blog, started the Carnival of Real Estate, started a free MLS and Zillow is consistently one of the top 5 Real Estate Websites on the Internet.
In the meantime Real Estate was trying to clean up its act with the DOJ, FTC, Cendant and Homestore. Hopefully we're behind our Real Estate 1.0 problems delaying our entry into Real Estate 2.0.
Can we believe the sales scripts of NAR, Move Inc and Realtor.com? How will they spin fraud, larceny and procrastination? When Google, Zillow and the other Search Engines are giving us access, tools and advertising for free.
If we are just data and tech, we are a commodity. And dis intermediation (dump the middle man) is around the next corner. We need to keep adding our value, beyond our data. We need to keep working on the recipe for our secret sauce.
We need to be leaders or get leaders. We can't play "Follow-The-Leader" with our leaders any more.
GOT NEXT! Happy Searching.
WebHomeUSAblog; The Blog of Real Estate Search Marketing
Clifford - great recap - love your bio. Still way too many brokers trying to operate a business with flat tires.
Posted by: john harper | February 12, 2007 at 09:56 AM
What do you think? Will Zillow replace MLS or is Zillow a new national MLS? I have seen no better analysis of the mess in the MLS arena than in the new 2007 Swanepoel Trends Report. Do yourself a favor and get a copy of the Report – I got mine online.
Posted by: Lucy | February 20, 2007 at 12:24 PM
Agents and Brokers who fear the future will be buried by their fear. Species that do not adapt, die. Good Agents are very important to Buyers and Sellers; they just need to keep up or ahead and adapt.
Posted by: Karl Lingenfelder | March 06, 2007 at 07:11 PM
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Posted by: FarleyOlive21 | July 31, 2010 at 01:11 AM