In the series, “Blog Networks”, we will illustrate the sea-change blogging is bringing to mass media and it’s effects on your business, identify why blogging is where you should be placing your monies, and finally present Blog Networks-the biggest first mover advantage to brokers who wish to generate and close leads while locking their competition out of the market.
Revolutionary, sea-change, “Purple Cow”, first adopter’s massive advantage, and monopoly are all striking yet appropriate descriptions of Pat Kitano’s Blog Network predictions for real estate brokerages in 2008.
But in order to understand why this tool will change the face of real estate marketing-advertising and lead generation, brokers must first accept the fact that what used to work in the past is quickly losing effectiveness today moving into the future.
The days of Yellow Pages advertising, local newspaper advertising, and magazine advertising are quickly losing ground to the online information revolution that is Web 2.0. Newspaper and magazine advertising will always remain a part of a Broker’s marketing plan but now and into the future it will have a decreasing role and effect.
How do we know this to be true?
Technology Director and author of mytechopinion.com Reggie Nicolay provides the following eye opening statistics:
1. National Association of Realtors state that “72% of buyers begin their search online”
2. California Association of Realtors states that “84% of buyers begin their search online”
3. 35% of buyers and sellers begin their search online at Google.com
4. 100,000,000 blogs are in the blogosphere yet real estate remains a open niche
5. Hyper local blogs, theharperteam.com, are capturing valuable search engine placement ahead of small, local news agencies in their area
Sign of The Times
Rupert Murdoch’s decision to change the Wall Street Journal from a paid online subscription fee to an advertising revenue based business model (free to readers) was a defining moment in how blogging is changing the media landscape.
According to prolific blogger Tommy of therealestatebloggers.com’s insightful article “Note To Sellers, Buyers Are Looking Online for Homes Not the Newspapers” ad revenue is down in the print media due to the influx of blogs providing valuable, free, time sensitive information which allows the reader to interact with the source in a real time format.
Consequently the first step to unleashing the unlimited power of your own Blog Network is understanding how the media landscape is changing. People are no longer going to their newspapers and magazines as a first step to search for real estate information.