If you haven’t heard of Web 2.0, you certainly will… and a lot of it. In a very simple definition Web 2.0 is a movement in web sites to provide information that engages a conversation. In other words, using technology to reach out to potential customers and provide useful information that will start an on line conversation.
EWM’s venture into blogging is the perfect example of this technology. Web 2.0 is swarming around real estate and begins with a simple question…. Who is your customer and what do they want from you? I think we all know some of those answers.
1. The customer wants information about local real estate. Ths information can be anything from detailed listing information to market trends and and information that could affect property values in the area.
2. The marketing thrust of Web 2.0 is to procure customers long before they ever have a real estate need so that when they do want to buy or sell, they will come to you. Think of virtual farming. The idea being that if you become the source of information, the customers will follow. The internet provides a very cost effective way to get out there with what you know and procure clients in a more rapid fashion. If you do a direct mail piece you chose the location and then send it out hoping someone responds. In blogging or producing a content rich web site – you put it out there for a much larger audience and use the search engines to draw viewers. Besides being cost effective, the shelf life and reach of the internet is much greater than direct mail.
3. Be transparent. Transparency is the buzz word that finds it’s way into every Web 2.0 conversation. Basically, being transparent in real estate means putting the information out there and not hording what you know. In times past, Realtors have been known to “bait” consumers for the information. A great example of this is placing an ad about a property and not putting the price. Consumers have spoken loud and clear on this and said – give us the information and we will reward you with our business. I know some of you are thinking… what will they need us for? But the more you put out there, the more you will get back. Be open and honest in your communications, whether it be on the phone, internet or email.
4. Disintermediation – a big word for an interesting conversation. Basically, disintermediation is the elimination of middlemen. For now, I will leave it at that because the topic is so large and the Inman conference was full of talk of disintermediation that I feel it deserves a blog post to itself.
5. Lead generation – now we are getting somewhere. Web 1.0 sites where you pay for leads or get leads that have a small chance of actually converting into sales are a thing of the past. Here is a great video to show the mindset of what better leads are all about from our friends at 1000 Watt Consulting.
Now back to the conference and what the “experts” had to say on Web 2.0. This was another interesting session that I sat in on. Imagine my surprise when about 5 minutes into it we get a big mention! Thanks to you all we are already well on our way to being a Web 2.0 company.
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