Part 4: New business trends in ’07
By Bernice Ross
Inman News
(This is Part 4 of a six-part series. Read Part 1, Part 2 and Part 3.)
What
will Web 3.0 look like and how will it influence your business in 2007?
No matter what happens, the rate of change is only increasing rather
than slowing down.
Over the last three
weeks, we have examined how demographic, digital and economic trends
will influence your business in 2007. Today’s column examines some of
the changes that may result as “Web 3.0″ becomes a reality.
#9: Distribution — the latest way to market your listings
Many
agents don’t realize that their listings are distributed from one Web
site to other Web sites. For example, when you post your listings to
Realtor.com, they send their database of listings to AOL.com and to
WallStreetJournal.com under co-branded distribution agreements. Agents
who place their listings on Point2Agent.com can have their listings
sent to multiple Web sites, including GoogleBase.com, YahooAds.com,
Trulia.com, Oodle.com, PropertySmart.com, plus many others. They also
distribute to their National Listing Service. What’s interesting is
that the Point2Agent product does this at no charge.
Opportunity:
During your listing presentations, explain to your sellers how you post
their properties on at least 20 different Web sites. If the sellers are
interviewing other agents, ask the sellers to compare your marketing
plan to the plan provided by your competition.
#10: RSS (Really Simple Syndication)
A
major benefit of Microsoft’s new Vista program is the ability to
receive an “RSS” feed that looks very much like Outlook. RSS allows you
to determine the type of information you would like to receive. For
example, if you are a buyer who is searching for a Victorian home in
San Francisco, the RSS feature can notify you when a new Victorian home
comes on the market as well as about articles on restoring older
properties or places to find authentic hardware. RSS weeds out unwanted
information allowing users to focus on the types of information they
want to receive. (Caveat: Early adopters of Vista are reporting
problems with their peripherals as well as difficulty connecting to
their local MLS. It may be smart to hold off on your upgrade until
these problems are resolved.)
Opportunity:
If you don’t have a blog already, now is a great time to start one.
Blogs work hand-in-hand with RSS. They also help you to achieve better
search-engine placement. If you are an expert in a given area or serve
a market niche such as relocation, blog about the area or the niche you
serve. Creating useful content attracts more business to your site,
earns the trust of your readers, and, as a result, generates more
qualified buyers and sellers for your business.
#11: Wikis and online communities, not just blogs
Last
week, Inman News launched www.InmanWiki.com. Wikipedia.org, the
original “wiki,” was the first online, user-generated encyclopedia. It
currently has more than 600,000 articles in English (as well as
numerous articles in other languages.) Using a similar model,
InmanWiki.com launched with more than 5,000 real estate articles. Wikis
rely on their users to generate content and to control the accuracy of
what appears. Last week also saw the launch of a new real estate online
community, www.RealTown.com, which plans to serve both real estate
professionals and consumers. According to its Web site, Realtown will
be the “home of the most valuable community-generated content in the
real estate industry … Over the years, real estate professionals have
made nearly 1 million posts to the RealTalk Listserv and other
associated listservs hosted by InternetCrusade.” Whether it’s an online
community or a wiki, the important point to remember is, “No one is as
smart as everyone.”
Opportunity: Web 3.0
will be rich in user-generated content, whether it’s online videos on
YouTube.com, wikis or community sites. You can take advantage of this
trend in two different ways. First, become active in these sites. Read
posts you find to be relevant and chime in with your own comments.
Second, create an online community where you and others post relevant
information about the lifestyle in your market area. Your goal is to be
the source for “all things real estate” for your market area. When you
become the “go-to” person for real estate online, chances are buyers
and sellers will go to you when they’re ready to list or purchase.
#12: Smarter and friendlier search
Web
3.0 will be much more customized to users’ needs. For example, when you
visit Amazon.com, the site recommends books based upon your past
purchases. We see a similar trend in real estate Web sites as well. For
example, you may be sitting in Hawaii, but if you search for listings,
many search engines will show you listings based on your current
residence. Also, the new vertical search engines such as Trulia.com and
Oodle.com provide searches based upon how the user locates property,
usually by street rather than by a specific address.
Opportunity:
Capitalize on these improvements by focusing on niche marketing.
Today’s Web users are much more sophisticated and employ multiple
search terms in the same search. This gives them a more targeted
result. Thus, the deeper and more comprehensive your niche is, the more
highly qualified clients you will attract for that niche.
What are the other technology trends that will affect your business in 2007? See next week’s article to learn more.
Bernice
Ross, national speaker and CEO of Realestatecoach.com, is the author of
“Waging War on Real Estate’s Discounters” and “Who’s the Best Person to
Sell My House?” Both are available online. She can be reached at
bernice@realestatecoach.com or visit her blog at www.LuxuryClues.com.
Correction
Property listings distributed under Realtor.com co-branded agreements
Wednesday, February 14, 2007
Inman News
A
Feb. 9 Inman News story, “Real estate’s role in the new Web,” stated
that Realtor.com syndicates listings to AOL.com and
WallStreetJournal.com. In fact, the listings from Realtor.com are
distributed under co-branded distribution agreements, not syndicated as
the article previously stated. Inman News regrets the error.