June 22, 2007

Real Estate 2.0 – How the Internet Will Change Real Estate’s Future – Part 2

Let’s continue our in depth look at how real estate is quickly adapting to an ever-maturing internet.

An Online Home for Every Offline Home

Now that domain names and web hosting costs have been whittled down to practically nothing, we can plan to see individual homes and properties having their very own web sites.  This is already a fad in some circles, but I think it’s safe to say that within the next few years this will become even more commonplace.

Although somewhat gimmicky, the URL of a home’s web site can simply be a reflection of its physical address.  For example, a home at 555 Main Street in Anytown, USA might have an internet address of www.555-Main-Anytown-USA.com.  Some form of standardization might even take place, perhaps integrating zip codes into the web address.

While property owners could choose to maintain their property’s corresponding site however they choose, the site would especially be an excellent tool for sellers.  It’d be the perfect way to display all of a home’s details and selling points, as well as any related video tours, maps, and other multimedia.  Display the home’s web address right on the for sale sign in the yard for increased visibility.

Attitude and Acceptance

Some people just don’t get it.  Some never will.  That’s fine, but as the internet develops an increasingly involved role in real estate, those that don’t take advantage will be left in the dark.

While some reluctant real estate agents, sellers, and buyers do still have trouble grasping technology, the trend will be to adapt and embrace it rather than continuing to run away and dismiss it.  Greater appreciation for tech will take place as everyone realizes how it is such a fantastic way promote for sale properties, especially as our lives become busier and busier.

We’ll also see a move away from the agent-centered “look at me” site to the more property-focused site.  After all, people are really looking for homes to buy, not for fancy promos bragging about real estate agents.

Another probability – MLS systems will embrace RSS type feeds to quickly notify both internal and external users of the latest listings on the market or any other updates that might be helpful.

Better Blogging

As agents become more and more web savvy, expect an increase in blogging.  Blogging’s benefits are bountiful and match up perfectly with real estate.

Naturally, agents will use their blogs to share their listings, but the wisest of the bunch will see more value in the blogs than just listings alone.  They’ll realize that blogs are a wonderful way to attract natural, organic traffic – targeted traffic that converts to qualified leads.

Increased Specialization

Most internet marketers understand that the cornerstone to reaching their target audience is dominating niche markets.  The more specific a site, the more likely searchers will find the site.

This philosophy also holds merit for the real estate business.  Agents benefit by specializing in certain niches which they know and understand best instead of trying to be an expert on everything.

As the ways of the web converge on our lives, the niche concept will develop a broader group of followers, because it works – online or offline.

Well, that’s it for this installment…

Keep posted for the final segment of the Real Estate 2.0 series.

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