The fortunes of online real estate sites were based on the notion that property listings were King —-the more listings, the more traffic, the more success. Every real estate website chased the almighty listing. They didn’t care how they got them—MLS feeds (remember when it was $3 a pop for a listing), affiliate feeds, manual input or scrape job. Soon, there were a dozen sites with the same million listings— a dozen kings vying to rule the internet real estate kingdom. Eventually, everyone will have the same millions of listings. Then what? What will make the home searcher loyal to your real estate site?
It is a well established fact that consumers visit many real estate sites to look at property. But it is also well established that they LEAVE them too. So the question has turned to “How do we make the consumer linger a little longer” and, more importantly, “How do we get them to come back instead of going to our competitors.” Barnes & Noble answered the question by putting comfortable seating and serving coffee to its book lookers. It worked. It brings repeat, lingering traffic. (and occasionally someone will step over the young couple making out behind the self-help books to buy something)
So how do you put lounge chairs and coffee on your website? The answer may be a cozy virtual conversation pit—a place to gab and brag, listen and learn. Sip your Sumatra Siborong-Borong in your jammies from your own comfy chair, conversing with others BEFORE you invest the most money you’re likely to invest in your lifetime. Call it the Real Estate Klatch.
The Conversation as Queen
The Conversation has come, not to dethrone the listing King, but to take a seat beside him as his Queen. But is the conversation worthy? What do people looking for real estate want to talk about?
The House Yack
Zillow thinks people want to gab about their neighbors’ houses. We’re not sure. Does the serious homebuyer or just the curious ask questions online? Does someone without an interest in the property have any interest in answering? Who but the owner or listing agent will throw a red flag and how long does it take to get a ruling? Does the LA or owner want to field questions from every looky-loo in a perpetual online open house hell? (o the agony!) Wethinks too many questions.
The Scholarly Track
Perhaps Trulia Voices has the conversational content its users want—Q&A on local real estate issues. Since Voices rewards the wise for their pearls of wisdom, we think it better serves the interest of the local professional. It may have more value than leaving your calling card on someone else’s home. Zillow’s Q&A may be too narrowly focused on individual houses and it excludes the owner from the conversation if they do not claim the home own a computer or know about Zillow. Trulia’s conversation seems to provide knowledge that consumers can take anywhere. What good is knowing my neighbor got rid of his rat problem or just vulcanized his basement? Maybe it’s better to learn about the “mansion tax” and “flip taxes” in my market.
The Blog Talk Back
And what of the conversation found on blogs? We all know the right post can stimulate heated exchanges. Real Estate Truths are often forged in the furnace of the comment section. Here is where Realtor.com appears headed with its offer of free blogs. A real estate Deep Throat says other major players will also add blog components to their listing sites by year’s end.
Conversational content in any form may be a worthy Queen simply because it is crowned by Google. Consumers, who are looking for real estate information, will be escorted by Google to the klatches. Sites like Active Rain have shown how to entice a Google spider with conversation. So is this the new real estate regime—Listings and Conversation? Only time will tell if there will be loyalty to this royalty.
OK, that’s the monologue, for what it’s worth. Start a dialog if you like. I gotta run and get a white mocha latte, maybe read Seth Godin’s new book. I know just the spot.
Image:Queen Victoria and Prince Albert at the Bal Costume, (Sir Edwin Henry Landseer, 1842, oil on canvas)
Technorati Tags: Real estate, listings, property, Realtor, Zillow, trulia, Trulia Voices, Active Rain, MLS, DOJ, Q&A
