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What is Real Estate 2.0 Anyway?

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Services for Real Estate Pros with Real Estate Blogsites

I'm sure many of you are starting to notice the buzz words "Real Estate 2.0" popping up around the web.  Stemming from the not so distant cousin, Web 2.0; Real Estate 2.0 is a reference to all new and emerging technologies that are currently affecting the real estate industry at lightening speed.  This terminology will continue to gain momentum as these technologies grow and head toward the mainstream.  Many of these new products allow buyers, sellers and real estate brokers & agents to collaborate and share information online and in real time.  The world of static websites is quickly fading in favor of real-time technologies such as blogs, RSS feeds, podcasting and VOIP solutions such as Skype. 

This new suite of really exciting Web 2.0 products allows realtors to leverage their knowledge base and instantly communicate with their new and existing clients.  80+% of home buyers and sellers are using the internet at some point in their home search.  Real Estate 2.0 technologies will become imperative to gaining visibility with these potential leads.  Something like 80,000 blogs are created everyday (25% of which never get used).  It is very difficult to rise above the noise - RE 2.0 tech solutions can help you do so.  "Findability" on the internet will soon become an extremely important new measure of success.   

Bill French at MyST Technologies offers a very interesting look into Real Estate 2.0 information providers.  Take a look!  Here are some other great resources:

Skype
RSS and Internet Explorer 7.0
Real Estate Audio and Video Podcasting
Real Estate Business Blogging
RSS Newsreaders

Show All Comments
Matt Heaton
Timu Corp - CEO, ActiveRain - Co-founder - Bothell, WA

I'll second what Rory said.  Too many technology innovators focus on pushing new stuff out to the industry, when the industry can't catch up with what is already there.  The focus needs to be on making existing technologies easier to use, making the benefit clear to the real estate community, and driving adoption. 

If you look at the members of this site, pretty much all of them are on the extreme cutting edge as far as real estate goes.  Now the trick is making things useful to the masses.

Jul 17, 2006 04:41 AM
Bill French
MyST Technology Partners - Dillon, CO

Matt/Rory:

"... the industry can't catch up with what is already there."

Newsflash fellers - ActiveRain *is* part of Real Estate 2.0.

I was going to create a detailed comment - but it grew too big - you'll find my comment here.

bf

Jul 17, 2006 07:47 AM
Matt Heaton
Timu Corp - CEO, ActiveRain - Co-founder - Bothell, WA

Bill, can't view your detailed comment, probably is due to the visibility setting on your blog post. 

ActiveRain is part of what has been termed "Real Estate 2.0".  My point is that a very small percentage of real estate professionals understand how technology can benefit them. The solution isn't simply more technology and buzzwords but better education and positioning around technology.

Buzzwords are just that, buzzwords for the 99% of agents they mean nothing.  If you want to get true product adoption in space like real estate you have to look above buzzwords, and be able to very articulately define exactly how that piece of technology can help them sell more houses (because really that's what it comes down to).   It's extremely hard to convey to the vast majority of real estate agents even how having a web site or presense on the Internet helps them in their business.  To most of the members of this network (the early adopters), it's obvious but to most agents it isn't.  That is the true issue we have to figure out how to tackle.

Jul 17, 2006 09:09 AM
Bill French
MyST Technology Partners - Dillon, CO

You're right - I left it as a draft - but it's visible now.

 "If you want to get true product adoption ..."

No disagreement here - but we're not talking about products when we discuss Web 2.0 - we're talking about the way an industry embraces change and the technologies that drive change.

I don't think Kristen was referring to any one product or service; rather a collection of technologies and new ways of doing things that are creating forces that may cause disruption; at the very least will trigger new innovation.

Just a few short years ago, these terms were "buzzwords" -

  • USB
  • Internet
  • Web
  • Drive
  • Cell

Is "VoIP" a buzzword? Not really - you can check a box on your cable bill and order it now. Is "blog" a buzzword - hardley - almost every television show in production used the term last season. Heck, NBC news interviewed Chris Ansderson last week about the long tail of search.

"That is the true issue we have to figure out how to tackle."

This is [philosophically] where our viewpoints diverge. That suggests that you are going to target and serve late adopters and laggards. That's a fine business strategy, but it's not without significant risk. Following that logic, you must compete with well established companies which have already incrementalized features and commoditized product and service segments.

Jul 17, 2006 09:52 AM
Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS
Kristen you are so right technology will change how we do business from month to month.  You are one of those that help us all get going in the right direction.  Thanks
Jul 17, 2006 11:24 AM
Kristal Kraft
Novella Real Estate - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

What is so impowering about this network is all that we are learning by sharing. I didn't know about Skype a week ago and now I have it!

What's next...I love technology!

kk

Jul 17, 2006 12:46 PM
Kristen Veraldi
Real Estate Blogsites - Vail, CO

Sorry All, I've been on the road... Here's an attempt to address some of the responses:

This was really just a short post meant to facilitate discussion - so thanks for participating!  As Bill suggests, REal Estate 2.0 is about "a collection of technologies and new ways of doing things that are creating forces that may cause disruption; at the very least will trigger new innovation."  Right on!  Although the surfacing technologies I introduced may have been around for awhile, they all offer new and innovative ways for realtors to apply them to business.  What we fondly refer to as Real Estate 2.0 right now is about using existing technologies to create new and innovative ideas for business application in real estate.   New services are created every day to bring these new applications to light.  More importantly, is that these established technologies have created some incredible oppotunities for realtors. 

So yes, Matt, it is largely about education.  Much (if not all) of what we do starts here.  And well the realtor masses may not be quite ready to hear the message, their customers and clients push on.  We started educating about these ideas at the very beginning of 2006.  Those realtors that we have had the pleasure of speaking with in the last 7 months have covered much ground in that time frame.  Back then, the first question from 80% of people who approached us was "What's a Blog?".  Now, 80% of them say... I know what this is, how can it help my real estate business and why do I need it?  Sure, maybe these are the early adopters - but the masses are awake (and listening). 

In my view the Real Estate Industry has never before been faced with such opportunity.  Of course with opportunity naturally comes change.  It is society that is driving 2.0 technologies, not what realtors are willing to do or accept.  Not to be harsh, but keep up or get lost in the noise (with 80,000 new blogs a day - the noise is BIG).  RSS will be the driving force behind the new web.  Free information (and GOOD content) offered in "real time" will be the MINIMUM of what real estate buyers and sellers expect to see.  In this arena, it's all about FINDABILITY and good content.  Why are you valuable to someone searching online for real estate info? - because you answered their question in a much better way than any other online resource.  Why did you get the opportunity to do so? - because the marketing tools you are using support RSS or XML and other machine automated technologies. 

I have been working in the real estate industry for the last nine years.  In the last two, there has been a distinct change in buyer and seller perceptions.  Not many loyalties out there anymore.  These folks are very much empowered right now, meaning the set of expectations for realtors' job performance has increased.

So applause to you Kristal and Teri!  Keep up the good work.
We've been talking about these trends for awhile, here's a link for anyone interested:
http://www.realestateblogsites.com/public/item/124759 

 

Jul 18, 2006 04:27 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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Oct 09, 2017 07:34 PM
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