Then came Web 2.0, the social Web, creating multidimensional elements to what were often binary transactions. Being able to read opinions of prior purchasers before buying a book, booking a hotel room, etc... Not only opinions about what they had purchased, but who they had bought it from. eBay made buyer and seller ratings their hallmark.
One industry that has remained remarkably stale - as far as I can tell - is residential real estate. The more I pay attention to it, the more it seems antiquated and full of costly inefficiencies, and I wonder why the Web has not cracked this business. And I'm not just saying that because I'm in the process of trying to sell my house in a difficult market (well, maybe that is why I'm saying it...).
Sure, there are plenty of sites now where you can search for listings and see basically what an agent used to see in the MLS. But even if you do all the hard work, you're still forced to go through an agent to reach the buyer, and your agent will have to talk to the seller's agent, and so on... I have personally not run across any good sites that rate real-estate agents (some sites do this even for school teachers!). I have not found any good social apps that help connect buyers and sellers directly. Even leaving aside the (excessive!!) sales commissions still attached to real-estate transactions, wouldn't a prospective buyer much prefer to communicate directly with me and other area sellers to ask questions about the neighborhood, the house, the schools, etc..?
Some agents seem to use Twitter at times to showcase their listings, like the one below, but I'm not sure that is very effective without many followers...:
@NWAustinrealtor Just reduced the price on this great N Austin Home. Who do you know that wants to live here? Let me know. http://postlets.com/repb/4122661
I'm an online marketing professional and I believe in the power of the Web to eliminate inefficient intermediaries and connect buyers and sellers. As such, I have a hard time sitting tight while told to wait for the 'right buyer to come along'. I intuitively believe there are proactive levers I could be pulling to market my house, tap into pools of buyers who are themselves trying to make sense of all the inventory out there, etc... Problem is, I don't know where to start.
Anyone have suggestions as to how the social Web can be put to work to modernize the way houses are bought and sold? Is this done somewhere already, in the US or elsewhere? Would love some ideas!!
PS: And of course, if you know someone who is looking for a beautiful NW Austin home with gorgeous pool, send them my way :-)
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