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Making the Internet Work for REALTORS® or, Getting Serious about the Web! By Thomas A. Bottenberg Nationwide Internet Services, Inc. Certainly no other industry has embraced the Internet and the World Wide Web more quickly and with more significance than the real estate community.
Just one visit to IRED (the International Real Estate Directory), the
pre-eminent real estate directory of broker and real estate related listings, provides enough content to make even the heartiest web surfer hyperventilate.
But eventhough real estate people are found throughout the 'net, there
are now so many sites that the worthwhile ones often become lost. And because of
the overall real estate presence, it is now virtually impossible to set yourself
or your web effort apart from the others. So what happened to create this logjam and how can this web obscurity for brokers be overcome?
Well, the answer to the first question is debatable,
but nonetheless interesting. In my view, the real estate community, most notably
through the NAR (National Association of Realtors), jumped directly into
the technology of the web before realistically assessing the ability and
willingness of their constituency to utilize it effectively. In other words,
they committed an entire industry to operate their individual businesses (the
agents and brokers) in a completely new manner and with a technology which
continues to overwhelm the majority of agents. Why did the NAR sell out its long-time relationships and old-time roots
to embrace a technological approach which has proven a failure* to this point?
They felt squeezed. They realized that their local real estate board and
multiple listing monopolies of the past were dying quickly. Local brokers across
the U.S. were overcoming their dependence on the local MLS (Multiple Listing
Service) and demanding more from local boards and the NAR in exchange for their
dues. And about this time came the arrival of the Internet and its graphical
component, the World Wide Web. So instantly, competition was introduced to the
equation, as the NAR faced an independent and uncontrollable medium for
promoting real estate brokers and their listings. So, we can now see how the WWW came in, threatened, and killed, the
status quo of the entire industry. And it can't be stressed enough how
significant this change was because it forced everyone to do business
differently. It changed the NAR and the local boards, and it changed the way
every broker in America markets and sells property. Were the changes good? Yes and No. The end of the MLS monopolies
certainly returned marketing decisions back to the brokers and the communities
which were most affected. And interestingly enough, many of those brokers have
chosen the route originally mapped outby the NAR. Using the RIN (Realtors Information Network) and other WWW sites to market properties and gain exposure. But, the flipside is that many brokers were left to wander between the
old ways and the new school. And unfortunately, most of them are still
wandering. They wander between direct mail, open houses, web sites, farming,
seminars, workshops, and virtually anything else in which they can envision a
ray of hope. And it is this wandering syndrome which causes obscurity for most brokers. They don't know where to go for the roadmap to success. Many are convinced that the roadmap includes the Internet and WWW, and I believe they are right. But this leads us directly to our other question, how do I make myself and my products and services known and accepted on the Web? Well, part of the solution involves creating criteria which haven't existed until now. It hasn't existed previously because the technology is still too new and the scope of real estate sites on the Internet haven't been so overwhelming until now. But, if you have an existing web site or contemplating one, answer these
questions so you may increase your site's viability and chances for being
successful: * Based upon the admissions by NAR that they had spent over $12 Million on their RIN (Realtor Information Network) effort and were forced to realign the entire program through a new Joint Venture at www.realtor.com. Thomas A. Bottenberg is the President of Nationwide Internet Services, Inc. Nationwide operates and develops niche homeports like TopBroker, HOA Management Online, ImageMail, TripleNet, and others. Nationwide can be reached at (888) TOPBROKER. |