In a recent email from NYSAR New York State Association of REALTORS® there was a link to a podcast presentation by Marc David from Onboard LLC a Wall Street based data collector specializing in real estate data. The presentation is titled Real Estate in a post zillow world. It is quite interesting. It is about an hour so get some popcorn.
He starts with the day zillow went on line the real estate industry changed. Homegain's stock tanked. It is about circle of trust, immediate results to queries with no strings attached even if their information is inaccurate that is what the consumer wants. Interlopers from outside the industry came up with it rather than the real estate industry. Lead capture is gross, anti sales is the flow of today. He talks about the importance of social networking on the internet. He didn't mention activerain but we all know they are definitely on to something. He talks about how REALTOR® websites have to be cool and interactive and progressive. No more pictures of your dog and kids.
Some Highlights about the Future of Real Estate
- REALTORS® won't own the listings anymore. REALTORS® will own the relationships
- Trulio or Google will take over the MLS - MLS only has 4% of homes in the U.S.
- 96% of homes are not for sale. Going after those will own the future
- By 2010 There will be a massive database of every home in the U.S - Finland already has this.
- Realtors with individual websites should not go the independent route but co brand with their big company brand broker
- Future Realtors will have MBA's
- 1 desk can house many REALTORS® - REALTORS® will be like the Terminator with portable devices that can do everything do a walk through for a client in Australia
- New Paradigm - Best time to get into real estate
- Deep understanding and appreciation - Consumer centric value proposition
- Mapping, Virtual tours, information data providers, neighborhood demographics
- Realtor websites are about the data you - The information you - No personal information
- Immediate results to queries
- File sharing, text messaging
There is much more he talks about everything from real estate signs of the future to the future consumer and the future Realtor. There should be a Realtor revolution instead of a Dot com revolution. He says to get rid of forms on your website.