We’re not going to serve up predictions for 2008. But we do have a sense for what will wax and what
will wane in the coming year.
Some of the things
below are related to hot topics from last year we think will take hold;
others
are derived from observations taken in the trenches of real estate and
technology from 1997 to 2007. All focus on our work with brokerage
firms,
online real estate startups and media companies.
So, here goes …
What’s in for 2008
- Honesty and transparency in communicating with consumers left jaded by a rough 2007
- Public-facing MLS Websites (They have the goods and will start flexing their
muscle)
- Good blogs and bloggers
- Consumer real estate marketing informed by truly careful consideration of actual consumer needs
(This is harder than it sounds)
- Mobile real estate transactions (Less costly, better customer experience, mature technology and
apps)
- Cheap and easy online video to market listings
- Using free web apps for things you used to pay for
- Collaborating across old political divides
- Less data, better user experience
- Open source website and blog platforms
What’s out for 2008
- IDX products that were cutting edge in 1997
- Search advertising
- "Featured listings" on your website
- Venture funded online real estate startups
- Map-based listings search (just because something looks cool doesn’t mean it’s the best way to
get something done)
- Blogs that are poorly written, unfocused and born of a desire for SEO
- Getting away with a less than excellent brokerage website
- Recruiting anyone who can fog a mirror
- Stealth anything
- Bull****ing consumers
What have we missed? What’s on your list? Let us know.
Here’s to a great 2008!
– Davison and Boero
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Great list, but some I didn't follow. I mean they sound great, but I'm just curious what you mean. Such as:
Public-facing MLS Websites (They have the goods and will start flexing their muscle)
Mobile real estate transactions (Less costly, better customer experience, mature technology and apps)
Collaborating across old political divides
and
Search advertising (Are you saying AdWords is getting played out? I agree with you on that one, but to me it seems like more and more people are jumping on that boat. 40 dollars per click on Tucson real estate? WOW.)
Stealth anything
—
Love reading this blog, guys. You guys really are doing what you guys are meant to do.
-Ron
I disagree about Map Based Search about being out.
But I agree with that just cuz it looks cool doesn't mean it gets the job done. What really matters is who's map based search an agent uses.
I'm Gen-X and I like map based search
oh and the 800k listing has 16 pictures but half of them look like crap anyways. And they couldn't even make the bed before taking the picture.
Public facing MLS websites: How many MLS sites are built to drive or encourage consumer traffic? Not all. Yet with their servers is armory of content that could be doing what any of the top portals are doing; perhaps even better if…
We believe many realize that and 2008 could prove that true.
Mobile real estate transactions – Think tablet computers, e-signatures, smartphones, etc.,
Collaborating across political divides – This regards the mental, political and stubborn barriers that keep various entities within real estate from partnering up for the greater good.
Read this blog by Michael Wurzer – Open Letter To Yahoo!, Google, Trulia, and Zillow, Encouraging Data Standards – http://www.flexmls.com/blog/?p=287
Search advertising – $40 per click? Nuff said. We think there are ways to get better bang for the buck.
Stealth anything – Think generic websites that do not disclose who the sites real owner is promising to deliver specific information but only that person is lead generated. We think consumers have wised up to this practice and will gravitate in droves to sites that engage in total transparency.
Hope this clears some things up.
(Public facing MLS websites: How many MLS sites are built to drive or encourage consumer traffic? Not all. Yet with their servers is armory of content that could be doing what any of the top portals are doing; perhaps even better if…) I totally understand you now. If you could only see the Tucson MLS site and system. It's a mess, it only works on a PC internet explorer. Not user-friendly at all. And they also just remodeled it for tens of thousands of dollars!
(Stealth anything – Think generic websites that do not disclose who the sites real owner is promising to deliver specific information but only that person is lead generated. We think consumers have wised up to this practice and will gravitate in droves to sites that engage in total transparency.) Agree with this point 100%. Whoever owns these sites will see that their gravy train is coming to a halt.
Great list, guys. It will be interesting to see what transpires this year.
Great post guys. I worked as VP IT for a National Real Estate firm and have worked up close on many of these areas and you are so Right on about.
The main issue many Realtors will have is trying to do a lot of this themselves. Many..many realtor's are at such a basic level on their PC skills. Even the old guard that have been around…now slimed down, are having a terrible time adapting because they had others do the computer work for them. I think a key attribute that Realtors that want to stay in business should adopt is becoming a little more proficient in their PC skills.
I am talking about just basic email usage and organization of their files. Let alone trying to tackle Social Network Marketing skills free or not. I worked with over 400 Agents and about 30 top Brokers through out the U.S you would be amazed at my teams customer support calls. The finer details are better left to professionals. Check your market segment for those that have expertise in Real Estate and Social Network Marketing/Technology skills that can assist you in wading through the minutia to get to the really good nuggets. One key player here in the Tampa Market is Virtual Interactive Systems (www.visin.com). They are doing quite a bit for SMB's and have a niche following in the Real Estate community.
I think you will also see the big traditional brokers start focusing more on SEO of corporate sites to combat the high cost of ppc.
What should be out and is not is big brokerages going after competitors' producing agents. Doesn't this engender disloyalty, i.e. "if she'll leave him, she'll leave you".
Why not hire qualified people, train them, and that means "field train" them so they get up to speed quickly. Most managers just sit around writing reports to the CEO. Get them in the field! You'll gain loyalty, you'll make money (the commmissions are dismally low at first) and their energy will synergize your total organization. Duh?