Web 2.0 and Real Estate: License to Kill presentation for the Winston Salem region of the Allen Tate Co. presented by Mike Thornburg on Jan. 14, 2009

1. Consumers Embrace Web 2.0
Applications for Real Estate
pp
Licensed To Kill

2. Past, Present…Next
Web 1 0
1.0
Web 2.0
Web 3.0

3. Wait, I missed Web 1.0!
• Web 1.0 is the general
term that has been
t th t h b
created to describe the
Web before the burstingg
of the dot-com bubble' in
2001.
– from personal websites to
blogs and blog site
aggregation
– from publishing to
participation
– from content management
systems to links based on
tagging (folksonomy)

4. Wait, I missed Web 1.0!

5. Web 2.0, taking aim at real estate
Blogs
Video
Mash ups
Mash-ups
Social Networks

6. What is Web 2.0?
• Web 2.0 refers to second generation web-based services that let
people collaborate and share information online.
• A confluence of a number of trends: Participation, Personalization
& collaboration, Democratization of market access, Richer online
apps
• The transition of Web sites from isolated information silos to
sources of content and functionality, thus becoming computing
p
platforms serving web applications to end-users.
g pp
• A social phenomenon embracing an approach to generating and
distributing Web content itself, characterized by open
communication, decentralization of authority, freedom to share and
re-use, and quot;the market as a conversation“. (See ClueTrain
Manifesto)

7. What is Web 2.0?
• “The cluetrain stopped there four times a day for ten years
and they never took delivery.” -- Veteran of a firm now free
falling out of the Fortune 500
• The Cluetrain Manifesto (1999) by Rick Levine, Christopher
Locke, Doc Searls, and David Weinberger
– 95 theses
– quot;A powerful global conversation h b
fl lbl ti has begun. Th Through th
h the
Internet, people are discovering and inventing new ways
to share relevant knowledge with blinding speed. As a
direct
di t result, markets are getting smarter—and getting
lt kt tti t d tti
smarter faster than most companies.quot;

8. What’s a Blog?
• “Word of mouth on steroids.”
Yossi Vardi
• A blog (short for web log) is a
user generated website where
entries are made in journal style
and displayed in a reverse
chronological order.
• Blogs provide commentary or
news on a particular subject, such
as food, politics, or local news.
• Most blogs are primarily textual
although some focus on
photographs, videos, or audio
(podcasting), and are part of the
wider network of social media.

9. What’s a Blog?

10. What’s a Blog?

11. What’s a Blog?

12. What’s a blog?

13. What’s a blog?
Personal blogging
gg g
dominates
Search engine
friendly
Unique differentiator
ff
Free (or cheap)
( p)
exposure
Makes you smart(er)

14. What’s a Blog?
• TheFloridaBlog: A blog about the best (and worst) the Sunshine
state has to offer us!
• Sadie’s Take on Delaware Ohio: Delaware Ohio is a vibrant and
Sadie s
growing community located just north of Columbus. A one year-old
boxer tells the community's tale and a few of her own!
• Chicago Metro Area Real Estate - The daily adventures of a real
estate agent serving the north side of Chi
i h h id f Chicago, the north suburbs
h h bb
and the west suburbs.
• Northern Virginia Real Estate Guide Blog: Keep up to date with
the DC Metro Northern Virginia and Loudoun County real estate
Metro,
scene: contemporary real estate issues, exclusive market updates
and more...
• Realty Pupil - Exposing Real Estate - Real Estate Licensing
Exposed: O student goes undercover to expose the going ons
E d One t d t d t th i
of a Real Estate School in Utah, sharing all the secrets of Real
Estate Agents, and showing that anyone can do what a real estate
agent does.

15. Video blogs growing in popularity

16. Do you Twitter?

17. Questions about Blogs and
Blogging?

18. “Video killed the radio star…”
• “They took the credit for your second symphony.
Rewritten by machine and new technology
technology,
and now I understand the problems you can see.
Video killed the radio star.
Pictures came and broke your heart.
And now we meet in an abandoned studio.
We hear the playback and it seems so long ago
ago.
And you remember how the jingles used to go.
In my mind and in my car,
we can t rewind we've gone to far.
can't we ve far
Pictures came and broke your heart,
put the blame on VTR.
Video killed the radio star.”
The Buggles, 1990

19. “Video killed the radio star…”
• Web 2.0 is built on
broadband riding a Level 3
fiber optic backbone
• “Mo ing pict res” ha e
“Moving pictures” have
historically had high mass
appeal
• Video truly favors the
“attractive and beautiful”
• It’ free, or at least cheap,
It’s f tl th
and everyone becomes a
producer

20. “Video killed the radio star…”

21. “Video killed the radio star…”

22. “Video killed the radio star…”
No Houses
for sale?
Sell
yourself!

23. “Video killed the radio star…”

24. “Video killed the radio star…”
Over 200 000 000 YouTube
200,000,000
videos served up daily.

25. “Video killed the radio star…”
Top 5 Online Video Websites ranked by Market Share of U.S. Visits
Rank name domain Mar-08 Mar-07 Percent
Change
1. YouTube www.youtube.com 73.18% 55.28% 32%
2. MySpaceTV www.myspacetv.com 9.21% 17.73% -48%
3. Google Video video.google.com 4.06% 8.42% -52%
4. Yahoo! Video video.search.yahoo.com 2.16% 2.63% -18%
5.
5 Break.com
Break com www.break.com
www break com 1.82%
1 82% 1.57%
1 57% 16%

26. “Video killed the radio star…”

27. Questions about Video?

28. MashUps: For Your Eyes Only
• “Q Wh t do you get when you cross an
“Q: What d th
insomniac, an agnostic, and a dyslexic?
• A: Someone who stays up all night
wondering if there is a Dog.”
Groucho Marx

29. MashUps
• “…information and presentation are being separated in
ways that allow for novel forms of reuse.quot; Sho Kuwamoto
y
• A MashUp is a website or application that combines
content from more than one source into an integrated
experience.
e perience
• Content used in MashUps is typically sourced from a third
py
party via a p
public interface or API.
• Many people are experimenting with MashUps using
Google, eBay, Amazon, AOL, Windows Live, and Yahoo!
APIs.

30. MashUps
• New MashUps
last six months
• Top MashUp
applications

31. MashUps

32. MashUps
• Real Estate MashUps: (92 listed on Programmable Web)
– Agent Earth, Auction Cloud BirdsEye Real Estate
Earth Cloud,
Search, CityCribs, CyberHomes, Earth Point Boise,
eBay Real Estate, emongoo, eppraisal, FSBO Center,
FSBO Map GoogleBase GooT be HomePriceMaps
Map, GoogleBase, GooTube, HomePriceMaps,
JustStepsAway, InternationalRealEstate, Nosy
Neighbor Map, PlotOrNot, PropsMart, Real Estate
ABC, RealEstateFU, RealtyBaron RealSearch, Shack
Prices, Spyk Property Search, Trulia, Urban Registry,
Zillow, ZipRealty

33. MashUps
891 listings

34. MashUps

35. MashUps

36. MashUps

37. MashUps

38. MashUps

39. MashUps

40. Questions about MashUps?

41. Web 2.0: the ultimate network
“Where two or more of you are gathered…”
Matthew 18:20

42. Web 2.0: the ultimate network
• A social network is a social
structure made of nodes
(individuals or
organizations) that are tied
by one or more specific
types of relations
• In its simplest form, a social
network is a map of all of
the relevant ties between
the nodes.

43. Web 2.0: the ultimate network
• Notable Social Networks (according to WebTrends,
– 43 Things, Adoos, Amie Street, AIM Pages, aSmallWorld,
BlackPlanet, Babbello, Bebo,
BlackPlanet Babbello Bebo Blue Dot, Blurty Bolt CarDomain
Dot Blurty, Bolt, CarDomain,
Care2, Classmates.com, Consumating, Cyworld, Dandelife,
DeadJournal, Dodgeball.com, Doostang, Draugiem.lv, Ecademy,
Eons.com, Facebook, Facebox, Faceparty, Flickr, Friendster,
Fruhstuckstreff, GaiaOnline, G
F h t k t ff G i O li Gazzag, G P t G d t
GoPets, Graduates.com,
GreatestJournal, Grono.net, GuildCafe, Hi5, Hyves, imeem, IMVU,
IRC-Galleria, iWiW, Joga Bonito, Last.fm, LinkedIn, LiveJournal,
LunarStorm, Meetin, MiGente.com, Mixi, MOG, Mugshot, Multiply,
, , , , , g , p y,
myGamma, MySpace, myYearbook, Naymz, Neurona, Nexopia,
orkut, Passado, Plaxco, Piczo, Playahead, ProfileHeaven, Rediff
Connexions, Reunion.com, Ruckus, Ryze.com, Yze, Sconex, Studivz,
Studybreakers, Stumbleupon, TagWorld, TakingITGlobal,
Studybreakers Stumbleupon TagWorld TakingITGlobal
TheStudentCenter, Threadless, Tribe, Vampire Freaks, VietSpace,
Vox, WannaNetwork, WAYN, WebBiographies, Windows Live
Spaces, Xanga, Xing, Xuqa, Yahoo!360, Zaadz

44. Web 2.0: the ultimate network

45. Web 2.0: the ultimate network

46. Web 2.0: The Ultimate Network
Facebook draws retailers

47. Web 2.0: the ultimate network

48. Web 2.0: the ultimate network

49. ActiveRain

50. Rating networks

51. Rating Networks

52. Rating Networks

53. Web 2.0: the ultimate network

54. Web 2.0: the ultimate network

55. Web 2.0: the ultimate network
Largest
city in
the
world!

56. Web 2.0: Second Life
User to User Transactions Monthly User Hours
Resident Peak
Owned Concurrent
Land users
Mass

57. Social Media: Big Numbers
Monthly US Market Share of
Pages to Social Networks,
2007 - 2008
Average Visit Time to Social
Networking by Age

58. Questions about S i l
Q i b Social
Networking and Media?

59. Okay…what’s next?
• Web 1.0 was dial-up, 50K average
p g
bandwidth, Web 2.0 is an average 1
megabit of bandwidth and Web 3.0 will
g
be 10 megabits of bandwidth all the
time, which will be the full video Web,
and that will feel like Web 3.0. ”
—Reed Hastings founder of Netflix

61. Web 3.0
• Web 3.0
– Th Semantic Web
The S ti W b
• semantics of information and services on the web is defined,
making it possible for the web to understand and satisfy the
requests of people and machines
tf l d hi
– Web as a universal medium for data, information, and knowledge
exchange
– Third generation of Internet-based services that collectively
comprise what might be called 'the intelligent Web’
– Ubiquitous connectivity
– Intelligent applications
– Distributed databases
– Open technologies

62. What does all this mean for
real estate?
1. Consumer i reshaping
1C is hi
business. Real estate is no
exception.
2. Bandwidth is destiny.
3. The value is not in what we
do, but that which we know.
4. “If you don’t quite see the
light, some outfit will come
along that’s more attentive,
g ,
more interesting, more fun
to play with. Theses #89, The
Cluetrain Manifesto.

63. Recommended Resources:
• The ClueTrain Manifesto
• Realty Blogging by Richard Nacht and Paul Chaney
• The Long Tail by Chris Anderson
• The World Is Flat by Thomas Friedman
• Naked Conversations by Robert Scoble and Shel Israel
• Net Gain by John Hagel III & Arthur G. Armstrong
• New Rules for the New E
N R l f th N Economy b K i K ll
by Kevin Kelley
• The Tipping Point and Blink by Malcolm Gladwell
• Periodicals:
– Wired, Fast Company, Business 2.0
• Podcasts:
– TWIT, Diggnation, Revision 3, Buzz Out Loud, Planet Money
• Blogs:
– Boing Boing, Engadget, Mashable, The Onion, The Daily Dish
• Online Resources:
– www.micropersuasion.com
– www.sethgodin.typepad.com
– Microsoft blognewschannel com
Microsoft.blognewschannel.com
– www.squidoo.com
– http://del.icio.us
– www.commoncraft.com