Real Estate Leads other Verticals in Social Media Participation
I started Transparent Real Estate two years ago after attending Inman Connect 2006. As most readers know, I've delved deeply into how the social media is impacting real estate marketing, and how it is INEVITABLE that successful Realtors in the future will require an online presence. Although I've chastised the real estate industry for sticking their head in the sand because learning social media / Web 2.0 / blogging is too daunting, many will be surprised at my latest statement: After technology, the real estate industry seems to be the only vertical that has a well developed "blogosphere" and embraced social media participation. No other vertical has Active Rain, Trulia, Zillow, and HomeGain advancing social media participation on a daily basis to its constituency.
Why? Real estate agents leverage blogging and the social media for lead generation... there is a purpose for their participation. Real estate agents, admittedly a low-barrier-to-entry profession, need to differentiate themselves and the social media has become a proven method for demonstrating their expertise, experience, personality, etc. Real estate agents need to network on a massive local neighborhood level, and social networking applications do this well.
Why don't accountants and lawyers do the same? They can, but... I'll say it... accounting, tax and law are pretty boring topics to discuss with consumers, and their ability to develop online presence is limited by their inherently small audience. What these professions need is a social network that allows them to discuss ideas and how-to's with each other. The social network itself will create enough online presence to attract consumers interested in the conversations, and potentially develop lead generating relationships.
Again, social networking sites like Active Rain haven't reached other verticals yet, so I've created a slideshow of possibilities: 20 Viable Social Network Ideas. And I'm posting it on my new site Media Transparent, where I'll continue to explore how the social media is impacting the mass media and industries beyond real estate. I hope you might bookmark it.
I wonder why Zillow has not embraced Twitter as Trulia has?
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Maybe Twitter is one of those applications that fits certain personalities... Rudy @ Trulia is a garrulous type and Twitter fits in with how he messages Trulia.
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Interesting post Pat.. Have not really looked at other social media platforms but is there not several political social media platforms already set up?
And.. what do you think about the Obama campaign collecting numbers for text campaigns to be notified of who is selected for the VP? (And I assume other political campaign messages.)
Simply brilliant IMO.
For your reference concerning higher entry professions (nice polite way of putting it), I would certainly like to be connected with my Accountant, Financial Advisor and/or Attorney for opinions on new changes in real estate laws, lender and economic stimulus packages opinions, etc..
Hmmm.. (Looking forward to following your new site for more great ideas..)
Thanks!
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Thx Paul... yes, many political social media applications do exist, but I didn't classify them as an industry. I noted the Obama campaign's collection of email and SMS addresses at Media Transparent, and thought it was interesting that the LA Times co-opted the message by asking their readers to subscribe to their Election 2008 Twitter feed for the same information, without the risk of Obama's campaign spamming them for contributions.
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Pat, you make some excellent observations and points. The "small audience" business could also benefit from social networks by peer based referrals. ie:other states, specialties etc. This is another great benefit for agents connecting with each other. You know, the "agent on agent" point mentioned at Inman.
Great topic, great food for thought...
Thanks
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Great post Pat, and congratulations on your new site. I've just added it to my feedreader.
Note Bene: We are all media companies now
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Thanks Tim!
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goods ,Great article, thanks
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