Every year since 2004 I have been adding my own dumb and dumber awards. Usually is it a hard slog getting so many out the door, but why was 2007 different? Anyway sit back and have a giggle at some of the dumbest moments in real estate and technology for 2007.

PBL & MICROSOFT
1. It was without doubt the most anticipated launch of 2007 and is without doubt the worst major real estate website in Australasian history. I still cringe when looking at it. How could two major companies, Ninemsn and Microsoft get something so drastically wrong? Agents found themselves subscribed to a site they had never subscribed to, with listings sold years earlier. Agents also found that agents who no longer worked at their agency were listed alongside listings no longer under their agencies control.

2. MyHome struck a cord with only themselves and thus will fade further into oblivion in 2008 unless someone steps in and makes some radical changes. MyHome incorrectly perceived themselves as pretty cool. The standout memory for me was Senior Management in the Applesque (Steve Jobs) photo pose splashed in newspapers across the land. Soon, after all senior management had gone, the site tried in vain to claw back some respectability.

3. What do you do when you have a website with only 30% of your competitors’ listings and exactly the same data within that small percentage? What do you do when statistical data tells you that people stay on your website for less time than it takes to boil a kettle? It seems MyHome’s idea was to spend millions of dollars just telling everyone about it. When will it run out? Well, as soon as the people paying the bills ask one very simple question “What are we getting in return for our money?”

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In a new agreement with Google, Fairfax will use Google Adwords across its network of websites including Google Maps with a shared revenue model between the two parties. Google will also carry Fairfax videos across its video networks. It is believed that the two organisations are going to be looking at other opportunities to work together.

It seems also that Google Maps will be a large part of this union and we will look to see even more mapping coming into the way we search for goods and services in the future.

In my opinion this is a very smart move by Fairfax. It will know that there will be certain markets Google enters that it will clash with but at the same time Fairfax understands that being with them has far more advantages than trying to play against them.

Fairfax wants to merge with Rural Press. Does anyone else feel that the upcoming media ownership laws are just going to make the strong - stronger? All the jockeying to date seems to indicate this. In my humble opinion the last thing I would like to buy at a premium would be a newspaper group.
I have not heard of any new companies entering markets, it just seems to me that it is a win win for everyone except consumers - we will just have to wait and see what happens after at least 12 months into the new laws.

Rural Press also own a real estate portal propertyguide, even though it looks great it lacks content in so many areas (many listings have no photos or just on). Only recently have they actually created a system for agents to manage their listings, whereas in the past they just posted up any advertising from their papers.

If Fairfax buys Rural Press it will give them a great deal of presence in the rural areas and probably have a real effect on realestate.com.au as rural press operates many newspapers in areas where they have no competition. This basically means that a Fairfax named group could in effect advertise their products (Domain) in the newspapers much like realestate.com.au do in News Ltd papers.
Tasmania will be a great example as both major newspapers (and really the only ones) in the north of the State are Rural Press owned.

I think the ACCC may block this or at least make the newspapers make a few concessions as they do operate a couple of newspapers in the same area.

So much for diversity!

Fairfax today purchased commercialrealestate.com.au for an undisclosed amount.This now leaves only 2 players in the Commercial Real Estate space in Australia with Realestate.com.au purchasing Propertylook for a cool 9 million recently.

I just got hold of a press release from an avid reader of business2 (thank you Phillipa) and it details the sale (no mention of price as yet).

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With New Media ownership laws coming into effect soon, we will see a big change in the news landscape.

Here are some of my predictions……..
1. PBL will buy Fairfax (not the other way around) and will then hopefully do something about Domain.com.au and some other sites. Recently PBL sold their shares in Realestate.com.au and has no finger in the online real estate pie.

2. News Ltd will buy either Channel 7 or 10, which will give them a younger audience mix with their tired and declining newspapers. They will also take full control of Realestate.com.au at any price. This will give them a full suite of classifieds online and a great way to get these out to everyone.
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