Tuesday, November 20, 2012

The Next New Thing


A possible new media tool that has not yet been created can be a modified version of the iPhone, or smartphone, application Trulia. This app deals with the real estate market and displays locations of homes, commercial property, and land that are being sold. These properties are displayed on an interactive map, similar to Google Maps. A small green icon appears on the map, showing the location and price of the property. When you click an icon, all of the property information comes up, including address, square footage, taxes, pictures, and the real estate broker/company who is selling the property. This is a very useful tool when house hunting or searching for investment properties. What can make this app even better is a feature involving a discussion board, or user-to-user message function that allows buyers and real estate brokers to send messages to each other using channels provided by the application. Also, buyers can talk to other buyers, or comment on the properties they have seen. For example, a buyer can message a broker about a specific property. This message from buyer to broker and vis-versa would be linked to that specific property so the recipient of the messages will know what property is the topic of discussion. An example of buyer-to-buyer communication using the app can involve a situation when a home buyer sees a property on the app that looks interesting. This buyer would be able to view the comments posted by other buyers who may have already visited the property. The buyer who is interested in this property can read the comments in order to make the decision of whether or not it is worth their time to visit the property. The buyers can also message one another in real time to discuss their personal perceptions of the properties. I believe that this app would benefit many property buyers, investors, and brokers, due to the new ability to efficiently and conveniently communicate and collaborate with one another.     

2 comments:

  1. I think this idea would be so good that it could even replace the agent's role, most of his work would be done with comments from previous viewers made public, and people would have so much more confidence in buying properties when they get real unbiased reviews about them. Great idea.

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  2. As someone who has worked as a real estate broker I see some great potential in this product. I also would like to point out that there is potential for revenue by having brokers pay for their names be associated with listings (and not the listing agent contact information by default). This strategy has been employed by Trulia.com's web counterpart for a long time and I would assume it has offered some revenue production. Last, I think buyer comments would be greatly distrusted by other buyers as they are all "competing" to grab the best house at the best deal first, at least in the New York City markets. Overall great idea!

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