Perhaps one of the best presentations so far was that provided by Safa Rashtchy titled User Generated Content: You Are No Longer in Control. not so much because of the content, very little of which was groundbreaking news or information. What was interesting was how he put all of the pieces together:
1 – Communitainment
2 – Usites – Yelp, etc.
3 – The web is mainstream
4 – Declining use of traditional media (hint: print is on its way out; the internet is the #1 form of media consumption at work, with people “wasting” two hours every day)
5 – Fragmentation of content consumption
6 – Evolution of user generated brands
A few thoughts on the above – Might communities such as Yelp, ActiveRain, RealTown, etc minimize the need and influence of the extortionist referral companies?
If the web has passed all other forms of media for its reach, why do so many companies spend so much money on print?
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I suspect the reason why RE companies spend so much on print media is seller driven:
1. I have heard time and again that the Seller expects it, wants it and still believes that it is important. Therefore, RE agents comply. I have also detected from RE agents that it provides them with a way to appear to be actively marketing a property.
2. A face to face meeting will never be eclipsed by a virtual meeting. Looking people in the eye and shaking their hands is important. In the same way, print advertising still “feels” more real to many home sellers. There is something to the permanence of the media.