The lesson in this post is about the need for creating content if you plan to survive online in 2010 and beyond. In order to understand this new market driver, we need to take a peek into market trends and history.
What is most interesting is that while NAR moves at a snails pace. Ironically, Google gets their data spoon fed from Realtor sources nearly in real time. In other words, if the Realtors stopped giving them listings, then Google would not be able to provide this new feature other than fsbos.
Of course, neither would real estate verticals like Trulia survive. But of course the nature of taking a listing is to sell the listing. So it has always seemed counter intuitive if not downright non fiduciary to hold onto a listing with such tight fists.
MLS syndication has been a source of controversy since the beginning. To the best of my knowledge I was the first to write about the ultimate demise of the MLS system as far back as January 2005. Since the start of this blog I have pontificated about the MLS system, and the giving away of Realtor data.
The debate within the real estate community has always been one of ownership vs marketing.
The internet gave way to VOWs and IDX. And allowed for a terrific direct response mechanism for capturing leads.
A commodity is some good for which there is demand, but which is supplied without qualitative differentiation across a market.
So the MLS syndicated itself, despite itself. A Federal lawsuit helped push things along. And the value of the listings themselves diminished. While the citizen agent provided terrific market and listings data to their visitors. Their visitors got website Attention Deficit Disorder. And to make it worst, today's web visitor is less tolerant to sign up for anything without real value offered.
While the great Realtor giveaway went on quietly, some in the industry blogaratti (or RENet as some like to call it) raised their concerns. It was just a little over a year ago that a debate was raging at the Bloodhound Blog. Seems many agents took offense to giving Trulia listings and content and then finding that Trulia was "link blocking" them with a no follow. The idea is to preserve their link juice by blocking the agent website from getting any link juice. Then like a Trojan horse Trulia was giving away cool widgets with market data. One problem though. They embedded a link that would pass link juice back to Trulia.
In defense of Trulia, links embedded into a widget is nothing new. But the lack of reciprocity was found to be a bit insulting by the real estate agent community.
The debate was pushed forward again of late when Notorious Rob-Robert Hahn said in his WEDNESDAY, DECEMBER 16, 2009. This was an article in Hahns Inman space about the recent move by Google to ratchet up their own real estate space in the main search results.( I would link directly to the Inman post but it is behind a membership password. )
I say debate, even though Hahn did not frame it that way because this Google Maps real estate move occurred while NAR announced their national database and while Google has been talking with Trulia about a buyout. WHAT!? Yes Google has been in talks to buy out Trulia. And in addition word has it that Google offered $550 Million for Yelp the local business directory. Yelp is said to have turned down the deal.
The automation game is all but over for the real estate community. I warned of this as far back as 2004. The day has arrived to personalize your web presence. To create rather than copy. Automation is the lazy way out. Its ability to perform all by itself is all but over.
As a side note. Let's consider what Trulia has done to build their monster website into Google buyout bait.
So How Can You Compete With The Big Boy Club?
SImply put you compete with unique content that proves your authority over your marketplace. You compete with what makes you so special over your competitors. Your USP or Unique Selling Proposition. Call it blogging or just article writing. Content creates pages. Content unifies your message and targets your prospects.
It is in the end the only thing that you have in your business that makes you special. Your content is your brand displayed textually (or visually or sound in the case of video and podcasts). We already talked about the listings being a commodity. Vanilla as it comes. Anyone can offer listings these days. Anyone can get a pretty website.
What is the great differentiation from you and your competition? Why do you matter? The only content that you can possibly offer that cannot be copied is your voice. And my guess is that you are not using your voice.
I know it is a pain. I get it. So is any form of prospecting. And like most issues surrounding prospecting. The 20% of the producers prospect. Either online or off line. But the big money always goes to the prospectors.the good news about publishing is that you can gain long term market authority when you create a voice.
I recently made a video for my email list and will offer it to you now. Get it here
Similar Blog Posts:
I recently interviewed Eric Lofholm who is a Master Sales Trainer who has trained tens of thousands of sales professionals nationwide. As a top-producing sales representative for 3 different sales organizations his consistent track record of regularly outperforming his fellow sales reps earned a reputation of success that follows him to this day. Eric has been trained by the top trainers of his time including: Anthony Robbins and Dr. Donald Moine Ph. D. as well as countless others.Many of America's top companies hire Eric regularly to train, motivate, and inspire their sales teams.
I asked Eric to share with you his top ideas and strategies for your success in today's selling environment. He offers a treasury of advice and resources to compete and dominate in this new economy.
Check out our related interview about called Dominate Your Market in 90 Days or Less with Dave Lakhani
Find out how he changed with this changing market.
Majoring in Minors
So often the online webmaster community is taught to look at each of these as one singular event. Without acknowledgment of the larger picture. And of course each of the above bullets represents a whole body of disciplines. We are taught to obsess over small singular actions such that our online marketing is nothing but a series of short lived, poorly executed tactical executions.
Some major minors:
Search Engine Positions: Search positions are nice. But a top position and fifty cents will only get you a cup of coffee (well maybe in 1976, I just paid $1.75 for a large at Mickie D's yesterday). A position is only implied traffic. Folks worry about 1 ranking phrase while my clients and I rank for hundreds. Folks worry about keyword density or proximity. They matter, but not much.
Server Analytics: Look at your visitors. Who are they? How many of them are there? Well analytics do not give names, but they give numbers and behaviors based on keywords. So if you are majoring in just one keyword phrase (everyone loves to major in "city + real estate" ) phrase look at your server logs. You will find you can attract a much larger audience by considering your keywords that people use to find you.
Lead Counts: Conversion. Think of the "tootsie roll pop" ratio. This is where you get into visitor values. How many visitors do you need to get to a lead? If a visitor is worth $20. Then, theoretically you can spend up to $19.99 to get that visitor as a client. But you will not know that unless you track.
The above are what lead to sales and closed deals. Within each are mountains of knowledge bases that can easily waste a lifetime.
However, when you start with the end in mind. That is your business plan calls out for x amount of sales, and y generated online balanced by your own values and objectives. Then you have a start. A target.
Instead, so often we live with the delusion that if "I just rank number one for Happyville Real Estate, then I will reach Nirvana."
Did You Forget Why You Came to The Dance?
So often I hear that I blog to give my visitors great information to enrich their lives or at least online experience. Give me a break! You are there to make money. And the sooner you admit that the sooner you will make it. Otherwise stop writing it off as an expense as it isn't a business it is a hobby.
But learning this stuff can be fun and exhilarating. I get that. But you have to stay on focus or the web and vendors will steal your most precious selling time.
The web requires you to grasp the big picture or you will get lost. Not only your time will get wilted away but also your money. In order, to succeed on line you must develop a strategy first before jumping into the next big thing.
At http://www.realestateguerilla.com is an exclusive Coaching club where we will work with you on your top down success strategy. Or if you would prefer a private consult, contact Tim O'Keefe today. 310 533 9145. He consults at $500 an hour/minimum 2 hours.
->related blog post:
Are you trying to hit a home run with your prospects without even asking them out on a date?
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