Local Real Estate Agents Versus The Big Three

In a world where "The Big Three" dominate much of the online real estate, can the local agent compete with the likes of Trulia, Zillow, and Realtor.com? The answer is a clear YES. The "local guy" can compete with the internet giants while growing a thriving business that is built for the long term. How can the local agent do it? By developing the right focus, providing the right services, and investing the necessary time and money to build a solid foundation for long-term success. In this post I share a few thoughts on developing the right focus.

Developing the Right Focus in the Era of The Big Three

1. Assess how you invest your time and your money. Take stock of how you spend your time and your money and ask yourself this question: Are you investing in your brand or the brand of another company? Here's one quick example: Blogging on your website is an investment in your brand and the long-term growth of your business. Blogging on Trulia is an investment in the Trulia brand by way of adding content to the Trulia website.
2. Redirect your focus and commit to growing your own brand. There are many of us in the real estate community who spend thousands of dollars each month on ad words or on advertisements on Trulia, Zillow and Realtor.com. Some will argue that even at these high costs these ads do grow business and do help the bottom line. This may be true, but it is a marginal benefit at best, and the only way to sustain it is to keep taking out ads - month after month, after month, after month...Imagine the possibilities if we redirected this money to develop our own websites and grow the visibility of our own brands on the web!
3. Create a vision for your own internet brand that not only competes with The Big Three, but beats them at their own game. (Hint: your brokerage and your MLS board won't do this for you, so you'll need to stretch your imagination and then make it happen). Can you create a website with excellent local content, excellent property search tools, and market information that is transparent and easy-to-use? This is what today's consumer is seeking.

In a future post I'll share some ideas on what that website looks like.