HomeGain launched its blog back in the early days of February, 2008 in part to experiment with Louis‚Äôs premise that Web 2.0, or more specifically Real Estate 2.0, doesn‚Äôt have a revenue model.
Monday‚Äôs Financial Times weighs in with an article that mirrors this problem:
Despite the slow start to money-making by Web 2.0 companies, the trend towards more social online behaviour that it embodies is widely claimed by insiders to be of lasting significance.
‚ÄúThe capabilities that are coming with Web 2.0 are very profound,‚ÄĚ said Devin Wenig, head of the markets division of Thomson Reuters. ‚ÄúThe (Silicon) Valley is usually right, and it‚Äôs usually early.‚ÄĚ
Web 2.0 may not be making money, but it is changing social online behavior.
In the four short months since the HomeGain launch, social media in its many forms‚ÄĒfrom micro-blogging Twitter to DIY social networks using Ning‚ÄĒhave started to eclipse blogging. The new applications have created new paradigms for online expression and publishing; many bloggers acknowledge they blog less.
It‚Äôs no secret Web 2.0 evolution is moving too fast for the real estate industry.
So Louis steps in with a new HomeGain strategy to make Web 2.0 accessible to its clients:
- Leverage the existing revenue and client base
- Add the Web 2.0 features, like blogging, that are hitting adoption ramp up with Realtors.
- By doing so, continue to provide a smorgasbord of marketing services for their clients
And the product is called AgentView.
It‚Äôs an effective business model to create a one-stop shop that guides Realtors through Web 2.0, particularly during this disruptive time when sales are down and the rush of online marketing solutions is too confusing to keep up with.
Pat Kitano is the Co-Founder and Managing Principal of Domus Consulting Group. Visit his blog, transparent real estate.