Last weekend, real estate agents and brokers got introduced to yet another social and business network to participate in when online real estate news service, Broker Agent Professional, launched Broker Agent Social. Within the first 100 hours after launch they exploded to 2,000 members - adding a new member every few minutes.
Broker Agent Social enters an already crowded field dominated by ActiveRain of course as well as other large online communities such as RealTown, Zillow Community, Inman Community and RealSeekr.
It isn't that there's not room for one more as I actually suspect we will see another dozen or more develop over the next year as different online communities each strive to find their niche and target audience. According to Morgan Stanley, networking online has become the 2nd largest activity online after email.
Not all online communities are of course the same as My Space, Facebook, LinkedIn, Buzznet and Hi5 have already proven. In their case differentiation, at least in the beginning, may have started as a group of school friends, an international social network with a local flavor or an online community featuring a specific interest such as pop, punk or rock bands.
It will not be any different for real estate online communities. Each one is going to have to first its specific importance and usefulness to its members and secondly find a revenue model that they can sustain. Although initial indications were that marketers strongly supported online networks, most of the largest networks have yet to turn a profit and with a downturn in the economy advertising budgets are being reeled in.
That said I am still positive that online networks will play a significant role in shaping the future of the home buying transaction and I have dedicated a trend to them in my 2009 Swanepoel TRENDS Report that is due for release on 2/2/09.
Time will tell who will be able to build a loyal and meaningful following that will cherish their online relationship enough to stay active members. Having a lot of members is important but it is the focus and specialization that instills the desire to for members to return on a frequent basis and it is quality of the content that encourages participation and loyalty - both key factors in long term survival.
So, in your opinion, which are the three best online communities in real estate? Now be objective...
I saw that. It looks awfully close to plagarizing how LinkedIn works.
I have to go check these other options, out -- so far, I'm only involved with AR. I think I'm still a hybrid person.
Stefan, I have a facebook and myspace page, but I haven't used them as of yet for Real Estate. I really like Active Rain. I also have used Reliberation that is a Point2 site. Darcy has a twitter page that she works with. I don't know if that helped. I like for Real Estate Active Rain and Reliberation and don't really have a third.
Thanks for the post Stefan.
I'll probably check it out, but honestly I don't think I have anymore time for another site.
Good point Eric. In fact, there will be a major adjustment here: there are too many bloggers, not enough readers.
Active|Rain is the best site for peer interaction.
Twitter is the best site to broadcast information and find local consumers... Although FaceBook is close to it.
Localism is the site that has the best long-term prospect of being a consumer destination... if it is worked correctly.
@ Eric. I agree. Time is really a challenge.
@ Israel. Spot on. Not enough readers (and consumers) that care or count.
For community, I'd say Active Rain. There are certainly other social networks, but I haven't found the same community with any of them.
I love all this social networking, I'm going to check it out...thanks for the heads up...
Stefan, of course I got my invite and went and joined. LOL At NAR, Jeff Turner said something that really stuck with me. He said, "go wide with joining lot of social networks and go deep on a few" Time doesn't allow us to go deep except in a few places. Find the people to connect with and you feel a commonality with and engage them etc. but it doesn't hurt to go wide.
I think your trends book on social networks will rock the agents that are not into this but respect you and will listen.
Stefan, I think Lane and Missy have said it about right.
What is so unique about ActiveRain that it would rank as number one? There is one unique feature. It rewards for effort. It teaches ( among the peer group themselves) behavior, teaches opportunity, provides for unlimited resources for learning and being more creative.
NO other network does that. They are wide open but they don't teach any discipline to the process like AR does. By rewarding the right behavior and then doing it you advance. Both in position and in peer recognition.
Being on the conservative of life, I know that the best and most just reward is based on effort and discipline. Some call it dedication or some may see it differently. But the network has been successful from day one by rewarding the builders while always encouraging others to actively participate and build.
The other networks lack accountability to cause one to want to build. That doesn't mean they are bad in any way, but they do not inspire as we have been inspired by our peers here on ActiveRain . Because of that we have built "Natural" friendships and I suspect many of them will last our lifetime. Tell me, what other network can provide that?
There is no best 3. There is ActiveRain and the others.
Stefan:
Don't worry, when the market picks up, and people are very busy again, it wil thin out.
Richard
Stefan,
I make a point of checking out these sites but have decided on the ones I want to concentrate on, not enough time in the day to do it all.
@ Missy
"Go wide on many and go deep on a few." Good observation Jeff.
I am grateful for those who do enjoy and find value my annual Trends Report - now if we could just teach more real estate agents to read ;)
Hi Stefan,
When REALTORS are licensed ,it seems they catch the RDR virus. "REALTORS DON"T READ". I was reading your comments to Missy and couldn't resist sharing that with you. lol
PS, There is no known cure for RDR, thankfully is not contagious though. Happy Thanksgiving Stefan, to you and your family.
I ended up here through a post in the RE/MAX online and didn't know you were on ActiveRain and just subscribed to your blog. I agree with what Missy said (Jeff Turner said) about going wide. I join a lot when I run across it but ActiveRain is my foremost choice (if I could only belong to one). It is because of the generosity of my peers in sharing so many things and the rewards as someone said earlier (and I participate a lot in posting on Localism). Next is Facebook and Twitter. I just joined Twitter a week ago (after avoiding it for long) and I love it and see tremendous value. You must be on Twitter - I will check that next and follow.
Rapid growth still continues at Broker Agent Social - they just broke 5,000 members this morning.
Stefan
I like it ! It may be newer and smaller, but there is alot of good info as well and the response to a poll I posted was instant and engaging.
Sincerely,
Grace
Hi stefan, I agree we can only go and read so many of these forums. I love the AR, twitter, linkedin and real town. That's eough for me.
I ejoy reading your blogs Stefan.
Well, I was going to ignore this new site until Missy reminded me of Jeff's statement. Off to join something new!!!
Tina in Virginia
How will that be possible with the time constraints? I am so far active nly on AR. I do have a Linkedin account, but not often there
From what I have seen, ActiveRain is by far the most active compared to the other Social networks in real estate.
Mathias Bode
Engel & Volkers California
www.EVcalifornia.com
Stefan, I have yet to learn how I can get my work done, post on AR, read a few blogs, comment, research other networks.... I'm still learning this and truly can't seem to get caught up!!!
I agree that there are already a lot of network options.I will check it out though because I think it helps to be informed--and visible. As much as possible I would prefer Facebook for personal (with a conscious awareness that nothing is private and there is truly no separation!) and ActiveRain and Linked in for business. At least that is my plan for now....
The thing I have noticed about Broker Agent Social is that I get sooooooooo many emails, it is driving me a little crazy!
I can't imagine anything being close to AR as far as google juice, but am willing to explore. As far as going wide - I don't want to end up with a bunch of "dead-end" internet website presences if I don't have time to keep them updated. Perhaps I need to point everyone to my AR site. I will check it out.
For now, I have AR, I'm developing my facebook presence, and LinkedIn. Don't have time to Twitter right now.
Thanks for the post.
Hi Stefan,
I have four favorites - but I'll only give a nod to the fourth since you have to enjoy photography to make it work for you.
AR, Twitter, Facebook and for photographers - Flickr. I don't have a lot of time to do much more than that.
I say Facebook,Active Rain, LinkedIn and then Twitter. I use them quite often but the best for me would be a toss up between AR and FB.