Has collective collaboration taken the power from the top of the pyramid and dispersed it among the participants?
There is no one overseeing camera that records our every move. There are millions of them, in the hands of the public and on the walls of private businesses. The Mainstream Media cannot get the news to us faster than the masses of bloggers do. In addition, if they push something based on an agenda, it is swarmed by truth seekers. New stars and celebrities are created by choice, not force. Peer to Peer file swapping changed the entertainment industry forever. Google Video and YouTube have leeched television viewership significantly, and foreshadow the future of video entertainment.
Hopefully, my lack of example doesn't spoil the point of the article.
To me it seems that the power, once controlled by the few, is now slipping into the hands of the masses. Not that Orwell had it wrong, but the transmutation of his novel's message, and the prediction of greater totalitarian control in accordance with the development of technology, is wrong.
How does this affect the real estate industry?
Hundreds of thousands of voices can question the leadership, decisions, policies, management and opinions of those above and beside them. These voices can and will be heard whether anonymously, individually or collectively. Accountability is now the highest priority for those that took their power for granted. The NAR can be questioned, MLS's can be questioned, large brokerages can be questioned, top producers can be questioned, the questioners, questioned.
Search Engine results are up for grabs. Top placement is achievable by those who won't settle for static content. The long tail of search results is made up of the many many active voices. The more they say, the more they are heard, the more they are networked, the more Google loves them.
The once coveted access to MLS listings is becoming less of a compelling offer to generate leads. As the barriers soften and the public have access to that which was once locked away in a private, powerful book, service, education and trust define the attraction to an agent. One's ability to be heard among, and supported by the critical mass will replace the gatekeeper mentality and influence.
Reputations, the cornerstone of any long-standing business, depend on the collective voice. It can take years of success to be 'talked about.' One negative blog article can wash it all away.
Soon sellers and their listing agents will be held accountable by the collective audience for the facts they present about a property.
The future of listing a home?: Listing goes online. The audience participates in its description and perception. Property values become influenced by the community's comments.
With great power comes great responsibility.
Jim Cronin is the creator and author of The Real Estate Tomato: http://www.realestatetomato.com
Mission: To Provide Realtors With A Destination For The News, Knowledge, Technology and Service They Need To Be Successful.
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