Twitter
Twitter is a little on the nose to me and I am going to predict a sharp decline in 2011. Sure, Twitter will exist in some form or another well into the future but to me it is finished as a mass marketing tool and will eventually be relegated to some important niche communications. Twitter’s revenue making announcement early last year completely lacked any corporate imagination and signalled to me to be the beginning of the end for the company (and a multi billion dollar entity) and unless they innovate well I cannot see the service lasting in its current format for too many years. It is great for cross communication and breaking news alerts and it should play on those strengths.

Google
Google has made a great move in move with Eric Schmidt stepping down at Google and being replaced with Larry Page. Schmidt has made just about every web developer nervous (including me) as some of his comments were against every moral grain the company had built over the years and some of his recent comments were just idiocy! Hopefully Larry Page can get the company back on track, his communication is poor, but hopefully he has worked on this over the years.

Eric Schmidt did an amazing job in his initial years of organizing the company and building revenues and profitability, but he has shown he struggles with communication and needed to be replaced.

Facebook
Facebook goes from strength to strength and has now reached a valuation of around 50 billion. It does however make you wonder how they are going to satisfy the demand from all investors for revenues, especially in the light of them recently raising another billion of dollars. This places pressure on the company to massively increase revenues when they already should be very profitable.

There are many opportunities for Facebook and it will be interesting to see if they show a little more imagination than the Twitter crowd. I think adding personal related services that are paid for makes just as much sense as the boring old advertising model favored by investors.

I prefer to use Facebook for just family and friends, however I now see some really good opportunities there for our business and Facebook give developers the tools to build out some pretty cool applications. Here are some of our recent Agent additions from my company. You should talk to your developers to get them to build out some apps for you just to test the water. All you need is your own page (not your personal account)

RWM Mosman Facebook Page
Raine and Horne Facebook Page
Ristic Real Estate Facebook Page
Graham Lynham Facebook Page

Will Facebook continue it’s amazing growth? Maybe, however, I see a more local version of my personal life, something that is open source and that I have 100% control over who has access to what. I havent seen it yet, and really do not know what it is – but it definitely is not one company controlling my whole digital personal life.

Groupon
How many companies are offered a buyout of billions of dollars only to reject it and see their valuation plummet in the ensuing years?  Yes, many we have already forgotten about. Groupon rejected Google’s billions and now have to compete with that very same company as Google has just announced they will be launching a competing service. There is a moral to this story – sell your bloody company when you get a decent offer. There are many businesses/ideas you can build with a few million/billion dollars.

Linkedin
I will stay on this site as long as it is free, but to me it is just a chest thumping load of junk. Currently it ranks below my own company site as far as referring traffic (all of the articles on this site are linked to my linkedin.com profile) and from what I can tell this is useless fro business to consumer. For business to business we might see something, but not for the real estate industry.

MySpace
Rupert got his money back on this investment early. But in the ensuing years MySpace has cost him big big money and he can kiss it goodbye as it is currently burning through 100′s of millions of dollars a year. It was a lame duck from the beginning (disorganized, spam) and is a perfect example of why you sell early! Listening to Rupert speak about technology is excruciating. He simply doesn’t have a clue, quotes like Facebook being a fad, Google struggling once it matures and then his continual assault on free news (BBC< AC etc) is childish and gets him nowhere.

Your own blog
If you have a real estate website and you are not blogging about local market, local news, local events then you are missing out the the biggest opportunities for personal and business growth. If you want to start on the ground floor, get a FREE WordPress.com blog and start playing. If you want a professional blog under your own domain name speak to your developer.

Wikileaks
Isn’t it wonderful that we have one news organization in the world that actually operates like all major news organizations once did? I hope there are many more years to come of people leaking information we should already know to organizations such as Wikileaks. Stand up for these freedoms we enjoy at all times and never be a hostage to your own motives!

1. There is absolutely nothing in this world like Facebook for connecting with all your old friends. The most successful people in real estate truly understand that networking is one of the real key’s to this industry and setting up a Facebook profile is drop dead easy thing to do to take advantage of it. Most of your old friends probably did not even know you were in real estate anyway. In sales the BIGGER YOUR SPHERE OF INFLUENCE THE BETTER.
2. Facebook and Twitter are truly opt-in marketing. There can be no chance that you can ever have provisions of the the privacy act thrown at you as they chose to follow you and they still WANT TO HEAR FROM YOU.
3. Testimonials are like gold for real estate agents and Linkedin allows you to write and receive business testimonials from other members. Testimonials that you approve become part of your profile for everyone to see. WHO DOES NOT WANT ANYMORE TESTIMONIALS?
4. Ensure your following the right people on Twitter as it is simply the best barometer on the real estate industry. Everyday you will get the latest training tips, strategies, news and commentary and all in just 140 characters each. On Twitter follow few and follow quality and YOU WILL BE REWARDED. Try to follow too many and it all just turns into noise.
5. Networking with others in and associated with our industry is just as important as networking with potential clients. When you are looking to contact someone you have never met Linkedin shows you who in your network already knows them and how. Linked in allows you to BUILD RELATIONSHIPS AND CONNECTIONS INSIDE THE INDUSTRY.
6. Twitter Search is a fantastic way to keep abreast of just what people are saying about your company, your brand or a recent advertising campaign. You get to see exactly what consumers are TELLING THEIR FRIENDS ABOUT YOU.
7. If they find it interesting or worth sharing,  your friends and followers will spread your news for you when they retweet, comment or like something that you post. The power of social networking is INCREDIBLE WHEN IT GOES VIRAL.
8. Tweets are now integrated live into the Google Search Engine Results Pages. Facebook Fan Pages and Twitter Lists are now in the Google Index which makes setting up a Twitter Account and Facebook Profile the EASIEST SEO ON THE PLANET.
9. If you dont like someone or they are posting or tweeting rubbish… you can just DELETE THEM!
10. Twitter, Facebook and Linkedin are 100% FREE…  at least for now.

Well, what used to be Word of Mouth, has now become World of Mouth, simply because it is now very easy for people to share their customer experiences with their friends over the web.

One of the most powerful examples of a customer using Social Media to complain about receiving poor service was a song written by Dave Carroll, uploaded to YouTube about United Airlines breaks guitars.

Over 5 million people have now viewed the song on YouTube & Dave Carroll has just released a second song about the staff member at the centre of all the negotiations & allegations.

Worldwide there’d be millions of good & bad customer reviews shared daily over the web via sites like Twitter, Facebook, YouTube, MySpace, Yelp, etc.

Whilst I appreciate that customer reviews over the internet aren’t a recent thing & understand that people have been posting reviews about products & services on the web via blogs, forums & social networks for quite some time.

For example, here’s the real estate section of an Australian site called Product Review.

However, recently I’ve noticed that there have been some important developments regarding customer reviews which could have a big impact on real estate agents.

1. New Australian Real Estate Agent Review Site:- Realty Ref
A new site has just been launched called Realty Ref where the site asks customers to share their real estate customer experience.

The site is currently asking consumers to share their experience based on…
“Feel cheated? Tricked or pressured? Lied to? Warn Others: Or Recommend Great Service.”

Unfortunately, with the public perception of real estate agents still below par, as per the annual Roy Morgan Image of Professions survey, real estate agent review sites like this are likely to become an online real estate complaints department.

2. Customer Reviews Located At The Top Of Google Search
The other day I was checking the ranking of a real estate agent’s site in Balmain & searched Google for the keyword “Balmain Real Estate Agent”.

At the top of the search Google came up with “Local business results for real estate agent near Balmain NSW”, plus a map & a list of 10 real estate agents identified from ‘A’ to ‘J’.

Amongst the list of agents that appeared, 2 real estate agencies had customer reviews appearing right beside their listing on Google.

Whilst the reviews weren’t bad reviews, one was definitely better than the other & could impact which agent a potential customer selected.

3. Customer Reviews via Mobile Phone.
There are a couple of major developments that are happening in the world of Augmented Technology that I read about in a post by Jeff Bernheisel.

Augmented Reality allows places to be identified using a collection of data that has been uploaded onto the web.

Augmented ID uses similar technology to identify people’s faces. Here’s a quick video from TAT demonstrating this mobile phone face recognition technology.

Imagine going to a Listing Presentation & before signing the agency agreement, the potential seller points their phone at you to check you out. Alternatively, imagine being able to use Augmented ID via your mobile phone to identify the people visiting an open home.

Whichever way it happens, customers armed with easy access to customer reviews, whether they be good or bad reviews, will have an impact on our industry as we move forward.

These online marketing foundations could be adopted as a good start up strategy for any new agent or simply a way that agents can build their profile & generate more business.  Either way, to begin building your online profile these first 4 steps are probably the best place for an agent to start.

1. Personal Domain Name

Secure your personal domain name. eg.YourName.com or .net.
To order your domain name, there are lots of domain name providers to choose from & the cost for domain names seem to be getting cheaper all the time. There are sites like GoDaddy.com, PlanetDomain.com, Intaserve.com & CrazyDomains.com just to name a few.

If your domain name has already been taken you can try putting a hyphen into the domain name. eg. Your-Name.com. There are lots of hyphenated domain names that are still available.

At present, there doesn’t appear to be any real benefit in securing the .com.au or .net.au unless you really want to. Your TLD, (Top Level Domain) YourName.com is better to secure if it’s still available.

Simply register the domain name & don’t sign up for the hosting packages because in a future post, I’ll show you ways that you can get your hosting for FREE.

2. Twitter

Secure your personal name on Twitter.
Once a Twitter username is registered then no one else in the world can create the same username. That’s why, even if you don’t want to use your Twitter account for a while, it’s still better to secure your username.

If Twitter.com/YourName isn’t available then you can use ‘underscore’ to create Twitter.com/Your_Name or you can even have the underscore at the beginning or the end of the username, like _YourName or _Your_Name.

The reason why it’s important to have your name within the username is that it forms part of the URL and this can help somebody find you easier on Google, Bing & other search engines if they type in your name.

3. Google Profile

Register your Profile on Google.
Having a Google profile enables you to provide a biography/profile of yourself on Google’s site. You can also include links back to your company website & links to any of your other profiles/websites.

Simply go to www.google.com/profiles and register today.

The same applies with Google Profiles, once the username is gone it’s gone, so it’s worthwhile going & securing your Google profile before someone else in the world with your name does.

4. Facebook

Register your profile on Facebook
Facebook has recently announced that as of this Saturday, June 13th at 12.01am New York time (2.01pm Sydney time) Facebook users will be be able to choose a username URL for their Facebook account.

It’s designed to make it easier to direct friends, family, and coworkers to a Facebook user’s profile.
This move by Facebook will also mean that people’s Facebook profiles will start to appear a lot more on personal name searches within the search engines.

For example, the new Facebook URL will become Facebook.com/YourName which can make it a lot easier for people to connect with you on Facebook.

Usernames will be issued on a first-come, first-serve basis for your profile and any other Facebook Pages that you administer by visiting http://www.facebook.com/username/.

Facebook Pages are designed for your business. There appears to be are a lot of agents & businesses that have started registering Facebook fan pages for their businesses & it may be a good idea to secure the Facebook username for your business at the same time. Eg. Facebook.com/YourBusinessName

Whilst there are lots of others sites like YouTube, LinkedIn, etc that you may want to register with, these are the Top 4 things you should do first.