Stattweets launched today, enabling sports fans to follow their favorite teams, get spreads, scores, standings, ranks etc.
The idea isn't new but their angle is. The content here is broadcast direct from the teams themselves rather than from the arbitrary public.
Immediate info.
Direct from the source.
I love this.
And I would love this from real estate.
Imagine a REStatweets that broadcast Just listed, Just sold, Pending, local stats and spreads from every major, minor and collegiate real estate brand locally and nationally.
Subscribers might include agents and brokers who would be able to acquire new listing information from any or every one of the brokerage brands listed in the network. If agent A gets a listing right this second, how much time would elapse before that listing is uploaded into the MLS and broadcast to out to the agent population? How much time would it take before it's broadcast out to the marketplace?
REstattweets could reduce that down to seconds.
This does not replace the MLS. It simply acts a surrogate service that gets the ball rolling quickly. It's a listing alert on steroids. It's an open house alert on steroids. It's what's happening on every block on steroids.
It's real estate on steroids.
Consumers could subscribe too. Now, I know sports engenders a certain fanaticism that you may think real estate does not have. But I'm not dribbling in that end of the logic court. I believe real estate is addictive. I believe it's voyeuristic. And I believe those who work inside it (agents, title reps, mortgage orginators, and the like) as well as those outside – the consumer – possess a healthy passion for it.
Especially now.
Micro-broadcasting in real estate is still in its infancy. Early adopters are currently focused on broadcasting about themselves and what they are doing. I've learned there is value there but I am still convinced that content only has a few seconds of real relevancy and pales in value to reporting useful data.
Sports might be apples to real estate's oranges. But data is data. Any engine that could power the instant delivery of it is one I believe is worth subscribing to, paying for and driving.
- Davison
Twitter: 1000wattmarc
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Hi, Marc. AgentRank.com began tweeting agent sales, reviews, forecasts, and rankings in August: http://tinyurl.com/6z8b69
The data source is the agent. We broadcast the data within seconds of an agent reporting it.
While we have plans for more, I doubt we'd reach the scope of Stattweets. But if someone takes a shot at your idea, we publish the same data via our API: http://www.agentrank.com/api
As always, I appreciate your aspirational thinking and I think that you are 100% on target. Altos Research follows your guidance.
I just took the number of people I follow on twitter down to fewer than 100. There was too much noise and too little useful information.
Happy Holidays – hope you see you and the family during the break.
Interesting.
Real estate unlike sports scores and stocks probably doesn't rely as much on the absolute freshness of the data.
Real estate is a time consuming process and not finding out a home is on the market for twenty minutes or two days in most cases probably doesn't make much of a difference.
I think the medium has to match the subject matter.
I saw in Pat Kitano's website (transparent RE) a social brodcasting systems to deliver headline news that I think can also be use for this.
Dont you think?
Sammy Wolcovinsky
Panama Flat Fee Realty
http://www.panamaflatfeerealty.com
I disagree, Louis. Real estate can be very similar to sports.
If I'm buying in a hot market, the bidding war can be over in 2 days. Obviously, this is not a concern now, but happy days will return eventually.
If I'm selling, I'm *thinking* of selling many months before my home actually goes on the market. Therefore, I'd like to know immediately when homes in my neighborhood sell and for how much. Or maybe I'd like to monitor the performance of agents/brokerages before selecting one to represent me.
Being in the market for a new home is *my* season. Otherwise, I'm in the "off season" and am unlikely to care much about the freshness of the data.
Hi Marc – The real-time aspect is what will create an more efficient pricing and market environment for buyers, sellers, agents, mortgage brokers – everyone involved with the real estate market.
This is akin to the stock market- information is available instantaneously, so share prices adjust immediately according to supply and demand. Imagine an agent getting notice that a house down the street sold for 98% of list in a down market, and was just about to review an offer for a listing she has on the same block that came in at 90% of list. Having this new info immediately might help in the counteroffer. Tons of apps for what you're describing!
This is one of the reasons that agents that subscribe to Altos Research love our reports – the market changes weekly, so they have new data to share with their leads & clients every week. And with the never-ending bombshells going off in New York and DC, the market is always changing. This puts the agent in command of new info to educate their clients.
Anything related to stats sounds good to us here at Altos Research!
What a great idea. You could have #tags for suburbs and dwelling types. You're onto something here.
Marc
Indeed in a hot market where time is of the essence, real time data would be critical.
My point is however especially in today's market, with the glut of homes for sale, real time data might not be that important as it would be for stocks or sports.
The service can't hurt, but i view it as a "nice to have" but not essential.
Louis,
Here's why I disagree. Office space is shrinking. Agent are leaving the comfort of cubicles and workstations. They are joining the ranks of those who have already gone mobile.
Receiving real estate data on your desktop, hours after it's posted due to the channels that data has to pass through before it can be posted is going to seem archaic and will be for the next generation agent who already using Twitter, Facebook, their phone for instant access to communication and information.
Regardless of hot or cold markets, there is a plethora of content churning around in real estate including the status of listings which continue to cycle through the marketplace.
Sending and acquiring that data via SMS is something I believe will be a critical asset to the future, mobile, technologically literate and value conscious agent.
I wonder… would a hungry Max rather search for and climb a host of trees to find a meal or would he rather have that banana hand delivered to him fully ripened and peeled?
Marc
More efficient and faster data can't hurt.
If its easy to implement a stattweet solution and inexpensive, why wouldn't a brokerage do it?
I suppose that would depend on what other critical initiatives and technologies that brokerage has yet to implement….
Interesting….
I think agents are feeling a little bit on information overload. I could be wrong, but I am speaking about the majority…not the 1% re.net who lives for this kind of high tech action.
I love forward thinking concepts, I am just waiting for the r.e industry to integrate statewide IDX systems AND transaction management- both make total sense and yet these tools, available nearly a decade ago, aren't either available or willingly adopted at any numbers worth talking about.
If agents are feeling information overload then they are probably either not organizing their incoming info properly. I can relate as the onslaught of articles to my reader, incoming email and general breath of content that I must keep up with to do my job can, at times, be overwhelming.
Hence the need for tools that compile all the relevant content in one place, through one delivery system that can be subscribed to and controlled.
As always, i am delighted with your futuristic vision of what is to be the future of our WWW whatever.
unbranded data, generic, free, easy to read and free to find whatever you need ( with a tagged realtor in the back end).
lets make sure to have the FDA approval for the Real Estate Steroids.
I still think you are brilliant!
Did you read "The Real Estate Diet"?
Happy 2009
I could see this as adding value, especially for new listings.
For instance, if I list a house today, but the seller has instructed me to keep it off the MLS until they have taken down the Christmas tree, had the carpets cleaned, and put mother-in-law on a plane out of town, I could tweet it out with some basic info for my agent friends to know to contact me for details. This would be faster than Craig's list, and probably create a viral effect for those who want to hear the latest news faster than average.
Hi, Marc. AgentRank.com began tweeting agent sales, reviews, forecasts, and rankings in August: http://tinyurl.com/6z8b69
The data source is the agent. We broadcast the data within seconds of an agent reporting it.
While we have plans for more, I doubt we'd reach the scope of Stattweets. But if someone takes a shot at your idea, we publish the same data via our API: http://www.agentrank.com/api