Are social networks a waste of time for real estate?
Real Estate, Technology July 7th, 2007Everyone has their own opinion on this topic.
Brad Inman is reporting on the topic.
The Agent Scoreboard website thinks it will never work. This blogger makes some valid points.
Pat Katino believes social network will play a big role in the future. I like Pat. He gets it.
Like Pat, I also feel social networking will play a huge role but not with the current models. Forget Myspace, FB, Blogs, MBL etc. If social media is going to play a role it will come from an entirely new concept. Social media is young and we will see some new models over the next few years. We will be releasing something that I believe will change the dynamics of social networking for real estate. I would never launch any old web 2.0 site - forget it. I think most web 2.0 sites are crap. Not saying my project will be huge, but it will solve a pain and a problem. It solve my problem and curbed my pain and now I am scaling it to help out more real estate professionals and consumers.
Real estate and web 2.0 has not meshed well. Sure, blogging is generating business for some, but most real estate 2.0 sites / missions are lame.
July 8th, 2007 at 7:55 pm
Yes, new model would help
July 8th, 2007 at 11:25 pm
Realtors markets are extremely small, 20k-30k households at the best, of that MAYBE 5% of those houses will sell in a 12 month period. How many of those 1500 homeowners are going to participate in a online social network?
If I’m a real estate professional, what has better ROI, answering lots of questions, blogging and participating in online real estate social networks on the off chance someone in my market is going to passively participate? Or actively participate in RL social activities in my market were I can develop contacts based on my primary social network, my community? I think the latter makes more sense.
I agree that OSN will play a role… how big? who knows? you need to solve for the crediblity gap on the internet, first.
July 9th, 2007 at 1:43 pm
Great thoughts. I look forward to showing you our platform in the coming months. I think the latter makes more sense too but we have figured out a way to mash the two together to create a powerful networking experience between professionals and consumers. The more I read the more confident I am in what we are doing. Very exciting. Thanks for commenting and keep the dialog coming.
July 9th, 2007 at 3:18 pm
ok out with it already! there are no secrets business models…
July 9th, 2007 at 5:22 pm
soon, i hope. i think its going to be one of those… why didn’t i think of that type of services.
July 10th, 2007 at 2:37 am
[…] Comments Against the Grain RE Blog » Blog Archive » Are social networks a waste of time for real … on Web 2.0… get it now, before its gone!mike on Web 2.0… get it now, before its gone! […]