Admin

Who’s Your Technology Guru?

By
Services for Real Estate Pros with MyST Technology Partners

It’s 2006 and 200 million people are using the Internet to speak to friends, colleagues, and family. At any given moment more than 4,000,000 VoIP conversations are taking place on the Internet – all bypassing traditional telephony services.

The other day [on a newsgroup email thread] I happened to observe one real estate professional ask another what his Skype ID was. To me, this was surprising not because the inquirer didn’t know what Skype was; but because she was a member of a very influential organization that claims to provide advanced guidance concerning new Internet technologies.

Skype is presently used by hundreds of millions of Internet users for business and personal objectives. It makes it possible to communicate [mostly] freely over the Internet using VoIP (voice-over-IP) telephony. It was recently acquired by eBAY for a bit north of $4B US – the importance of this technology cannot be understated. At this moment, more than 4.5 million people are connected and freely conversing across the planet.

How can an active member of a professional real estate technology advisory organization, dedicated to guiding its members on all matters of emerging technology, miss something so big, so easy to use, so free, and so widely adopted? It seems odd to me that [some] real estate cyber organizations haven't uncovered or mentioned these near-ubiquitous technologies and services -- web services that are already part of the present-day Internet topology. 

So I decided to do a little research into these “expert associations” – the results dumbfounded me – organizations that position themselves as “cyber experts" are not living up to their claims in some cases, or at least they're not indicating on their websites that they know anything about them. But this exercise also provides a snapshot of where you’re likely to find advice about forward-thinking ideas and technologies that may or may not impact your real estate business.
 
Real Estate Cyber Experts Analysis

The research approach I used was simple – search each organizations' domain using the Google “site:” query for each of 16 terms related to Web 2.0 technologies (they're actually tags in this post). Then use the number of mentions of these technologies on each domain to calculate a comprehensive coverage quotient (the raw data can be found here).

This research approach is not a scientific method for determining how effective these organizations are at providing guidance concerning emerging technology because not all content they offer is visible on the public Internet. However, it does provide at least one indicator that’s reflective of their knowledge on these subjects and willingness to promote these ideas for their own competitive advantage. Furthermore, these organizations each advise their constituents concerning web visibility and search engine optimization and marketing. Presumably, they would attempt to optimize visibility on their respective core competencies (such as Web 2.0 fundamentals), so this analysis approach actually provides a measure of effectiveness across two dimensions; failing either test would be bad. ;-)

If you know of an organization you would like measured using the same approach, feel free to leave a comment (include a URL). Also, if you have a better way to identify pools of real estate cyber resources, please mention it. My approach is *one* approach to finding technology leadership and it's not intended to promote any specific firm or beat up any other firm; it's just data. Feel free to use it or develop your own metrics.

In any case, many of the topics in this analysis should be high on the list of technologies that real estate professionals need to be aware of to create and sustain competitive advantage on the Internet. These are the technologies that are shaping the way you work on the Internet today and will have even greater impact in the future.

So, who’s your technology guru?

Show All Comments Sort:
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

"How can an active member of a professional real estate technology advisory organization, dedicated to guiding its members on all matters of emerging technology, miss something so big, so easy to use, so free, and so widely adopted? "

Bill, Are you familiar with "politics?" :0

Jul 16, 2006 09:02 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022
Bill, Will you be my guru?  I like your post!  Good advice, excuse me, my Skype is ringing...
Jul 16, 2006 09:02 AM
Bill French
MyST Technology Partners - Dillon, CO

Kristal - Ha ha - politics? Nah - I just say it like it is. The companies with no mentions of these new terms aren't leading by example -- there, I said it. ;-) I welcome any of them to educate me with more data; the dialog that will occur as a result of this post is far more valuable than my assessment of the raw data. Furthermore, every vendor has the capacity to shape the conversation, especially if they blog.

I understand that real estate is a very delicate marketplace, but I tend to speak for the users, not the vendors. Watch, you'll soon see me beat up a few of our OEM's and even MyST Technology Partners (our web site sucks for starters).

As vendors, we all make mistakes (including me and my companies), but times have changed - the spirit of blogging and Web 2.0 is about tearing down walled gardens and creating a more open atmosphere of sharing and coopetition. In the end, products and services will mature faster and customers will have better information and more choices driven by competitive forces instead of political ones.

I would love to be your guru (and I'm flattered), but I'm pretty certain there is much more to success in the real estate business than knowing *only* about Web 2.0 technologies. My post is intended solely to help people find sources of information relating to new technologies.

Jul 16, 2006 10:22 AM
Kris McGee
Berkshire Group Realtors - Denver, CO

Once upon a long time ago, I was a member of a "technology committee" who's task it was to review and support (or not) new technology for the members.  It was a very cool position, I had the opportunity to be the first to introduced to many goodies.

After a year on the committee a new chairman was appointed by the powers that be.   This person was an awesome top producer, but also bragged about not knowing how to "turn on a computer". 

I took my sick stomach and resigned. There was no point in fighting a losing battle. 

Jul 16, 2006 10:34 AM
Bill French
MyST Technology Partners - Dillon, CO

Kris:

I sympathize. If it's any consolation, I once worked with a professional in the travel business. I too was tasked with guiding the company through some increasingly rough technology waters -- changes that were likely to impact travel agencies in significant ways. My warnings about ubiquitous disintermediation of travel information (specifically transactions) went unheeded because a very top producer of traditional travel packages was at the helm. He's now earning a very small fraction of his original salary but still brags that he cannot turn on a PC.

Disruption is always brutal to those that fail to see it comming, but sometimes precisely what markets want and deserve.

Jul 16, 2006 10:42 AM
Kristen Veraldi
Real Estate Blogsites - Vail, CO

Hi Bill,

Please add Real Estate Blogsites to your list:  http://www.realestateblogsites.com.  Curious to see where we fit in!  Thanks for this in-depth look into real estate technology.  Everyone can benefit from the Web 2.0 technologies on your list.

Jul 16, 2006 06:00 PM
Jeff Link
Asheville, NC
"Your Asheville Real Estate Link"
The only draw back to Skype is some times the phone number will say unknown or 0000123456. When I see unknown I think telemarketer.
Mar 29, 2007 06:55 AM
Bill French
MyST Technology Partners - Dillon, CO

Jeff:

That's like saying the only problem with a telephone is that some people turn off caller ID. ;-) Skype is just another telephone network - businesses that choose to allow prospects to contact them through this network might gain a slight competitive advantage over those that don't.

bf

Mar 29, 2007 12:19 PM
Jeff Link
Asheville, NC
"Your Asheville Real Estate Link"
Hey Bill I use skype. By the way how is this going to give businesses an advantage other then budget? That was an absurd comment. The only advantage is the cost other then that a phone is a phone.
Mar 29, 2007 12:41 PM
Bill French
MyST Technology Partners - Dillon, CO

Jeff:

Absurd? I thought it was a rational statement.

"... how is this going to give businesses an advantage other then budget?"

Connectivity is a key driver for business; by eliminating connectivity friction, you increase the probability (however slight that it may be) of making a connection with a prospect. I'm sure you can envision some use cases where it's easier for someone to click and talk to you or leave a message. Transaction costs are not always monetary - economists call these "utils" - and one util in Skype is the ability to click to create a cummunication transaction, which is far frictionless than reaching for your cell phone, finding your number, and pecking away at a tiny keyboard.

Back in the day (before cell or mobile phones) you couldn't get back to a prospect until you found a pay phone or went to your office. The same was true for prospects; they couldn't call you by dialing the number on the for sale sign. These technologies made it possible to eliminate a slice of transaction friction and Skype is no different.

It stands to reason that if you broaden the number of methods that people can use to reach out to you, you increase the probability of more people reaching you, right? Why else would you support mobile phones, voice mail, email, fax, podcasts, blogging, contact form, etc? All of these communication methods increase the odds of connectivity and you use all of them. ;-) If the odds increase for connectivity, I think it's safe to say that you have also created a competitive advantage over those that have slightly lower odds based on a narrow set of communication opprtunities.

I don't think Skype provides a budget benefit because you wouldn't disconnect your other forms of communication in favor of skype, would you? Skype certainly enables a slight lowering of the cost of long-distance, but that's pretty insignificant given the phone plans available today.

"I use Skype."

Great - you should publish it on your web site - you might be surprised that a few people looking for real estate also use skype. ;-)

bf

ps - FWIW, take a look at this post concerning claiming your blog in Technorati.

Mar 29, 2007 01:19 PM
Jeff Link
Asheville, NC
"Your Asheville Real Estate Link"
That is absurd. Explain the advantage skype will give me. Other then cheap long distance.
Mar 29, 2007 02:16 PM