Podcast: Heather Fernandez VP Marketing - Trulia

Trulia announced several new initiatives this week that they unveiled as the the 3 P's launch.

Personalization
This comes in the form of a local news feed that is aggregated from areas of the site. After searching and navigating the site, your subsequent returns pull together content relevant to your efforts.
Portability
Three new mobile efforts comprise the portability announcement, the most notable of which is a new iPhone application. It's been a big hit with over 6,000 downloads according to a tweet by Rudy Bachraty earlier today. A blackberry application and Dash Networks GPS integration are avaialable as well.
Participation
Trulia adds blogging to the social effort in the site in the hopes that it will extend the ability for agents to connect to their growing consumer base.

Heather Fernandez, Trulia's VP of Marketing took time to speak with me about the new features as well as an overview of Trulia Pro, the self service marketing program for brokers and agents. Enjoy!


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Real Estate 2.0 Observations From The Street

I've been doing something the past few weeks that I haven't done in quite a while. I've been hitting the streets. Tuesday morning meetings, broker technology committees, training classes, you name it. I've been getting face to face with as many folks in the business as I can. In doing so I've made a few observations I'll share with you.

Observation I.
There are some very forward thinking people out there. There was some enthusiasm and activity surrounding new business models and the new rules of real estate. Some brokers are making some changes in business models and marketing that are bold, but wise moves in my opinion.

Observation II.
It's time for a little tough love. For the most part (at least at the agent level) it was like replaying presentations I made 10 years ago. The same questions were being asked and the same fears were being uncovered. Many agents were unaware of Web 2.0 companies like Zillow and Trulia. Blog is a four letter word that many still do not know the definition of. Industry events like the recent fed report on competition were unknown to many . The impact of social commentary/networking, listing distribution etc. etc. are issues that are largely ignored. The same "I just don't have the time to learn all of this" statements were being made. As I said in the meetings, I can empathize. There really isn't much choice in the matter though.

Transparency is forcing the methods in which an agent interacts with a consumer. Things are different now. The days of having everything happen by osmosis because of things like a Title company handling all of an agent's listing marketing efforts are gone. Consumers are armed with a great deal of knowledge and information. If I were an agent I would more fearful of not having the proper amount of product and industry knowledge than where I was going to find the time to learn it.

Observation III.
Attention levels were at an all time high. Most agents recognized that if they want to thrive in the RE industry of the future it would be a good idea transcribe "the writing on the wall". I've never seen more copious note taking.

Observation IV.
Brokers are getting with the program and providing agents with education and tools necessary to compete in the world of Real Estate 2.0.

Observation V.
Broker, Agent or Vendor. . . I think it's a great time to be in this business.

Trulia Advisory Board on The Agent Value Proposistion

Trulia recently created an advisory board of industry leaders to help guide their business development efforts. They recently asked each board member the same question and posted their results in a blog post yesterday.

"With property information available across the Internet and new discount real estate services popping up everywhere, how should full service agents reframe their pitch to buyers and sellers to communicate their true value proposition in the home sale transaction?"

The responses were all very succinct and insightful. I would recommend it as required reading for all real estate professionals. Real Living COO Kaira Sturdivant Rouda summed up some of the most important issues

"Key elements agents must be able to master and pitch to clients today include: immediate e-mail response time, a robust personal and brokerage Web site, a blog, a listing search marketing strategy, and online contextual and key word advertising. It’s critical to be where today’s consumers are - and she’s there - online. And the majority are, as always, seeking a professional real estate agent’s help."

Your online strategy can no longer play second fiddle to anything you've done in the past. Bob Peltier - President of Edina Realty stated something I have been saying for years, and it's right on the money

"There is a difference between information and knowledge."

The real estate pro that has mastered information distribution and created the most compelling marketing message regarding the value proposition associated with their knowledge will be the big winners in 2007. I would evaluate my listing presentation and place as much emphasis on your ability to distribute information online as you do on the essential transaction and negotiation skills that set you apart from your competitors.