The May, 2007, issue of Inc Magazine features an article titled "The Hot New Start-Ups That Are Taking On Google".
Areas where Google is challenged:
- Technology: Natural Language Search: hakia.com and powerset.com
- People Powered: chacha.com and search.wikia.com
- Comeback Kids: yahoo.com, ask.com and live.com
- AdSense Assailants: contextweb.com and quigo.com
- Specializers: toptenwholesale.com, kayak.com and:
Our favorite Real Estate Vertical Search Engine, Zillow.com.
Google uses advanced algorithms and indexing technology to generate millions of results in seconds.
The good thing about Google is: it generates millions of results in fractions of seconds. The bad thing about Google is: it generates millions of results in fractions of seconds.
Business competition is based on being Cheaper, Faster, Better. Since Cheaper or Faster aren't possible with Google, you'd better be Better. Vertical Search, as in Real Estate (also Video Search, Blog Search and Social Networking) are areas where Google is still vulnerable.
Google has Google Base where a Realtor can post his listings for free. For some reason(s) Google hasn't pushed itself into the Real Estate Market.
Some years ago Google was in negotiations with the NAR to provide its Real Estate Search. But whether it was Google's tag line, "Don't Be Evil" or its stated vision to, "organize the world's information and make it universally accessible and useful", that left a bad taste in its mouth, Google still hasn't actively pursued Real Estate Search.
Zillow's vision is to provide a free online value estimate for the over 83 Million residential properties in the United States. Zillow now allows you to change and customize your home's listing and even list it for sale yourself. Realtors have the opportunity to post their bios and to even advertiseon all the homes listed in their Farm/ZipCode.
The US needs a National MLS:
- The Post Office has all the addresses.
- The Telephone Company has all the phone numbers.
- Pictometry will soon have all the pictures (at least in Canada).
- Zillow will have all the value estimates.
Google is a Media Company. They didn't understand it at first, but they do now. Google's business model is a media business model: Free Valuable Conent > Drive Traffic > Sell Advertising. Their revenue model is "Sell Advertising", not "Sell Houses".
If you haven't noticed, Zillow is a Media Company too. Zillow has yet to sell its first house. Zillow wants to be "The Google of Real Estate", not Real Estate's next RE/MAX, Coldwell Banker or whatever Cendant/Realogy is calling itself this week..
We should fear Zillow getting into Real Estate Sales, as much as we fear ABC, NBC, CBS, Google, USAToday (All media companies) getting into Real Estate Sales. Who'd want to be the next RE/MAX, USA Today or even CBS; when you can be the next Google?
Will a home buyer check Zillow first for a ballpark home value estimate in seconds, or call you for a CMA in hours? (I don't even call myself anymore.)
Zillow doesn't want our commission checks. Zillow just wants a part of our advertising budgets.
Adapt Or Die! Happy Searching.
WebHomeUSAblog; The Blog of Real Estate Search Marketing
With the advent of custom search, Google is coming back with it's own seeming solution to vertical search; that being said, most searchers are going to be more inclined to use vertical search engines that they have already been using because of the targeted information they provide as well (take, for instance, goWholesale.com, which has articles about small business topics).
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