by Matthew S. Gerchow
There is a new market that investors have to learn to stay
competitive in this market and that’s the internet. More specifically
it is Web 2.0 and social networking.
Ever since the first wave of internet companies most folks have been
reluctant to invest too much time into any particular internet
strategy. Having a free email service and online faxes are probably the
two concepts that have stuck with us until now.
All of these new strategies have given so much power back to the
individual. One person can bring down an entire organization by posting
a less than positive review about a company. Funny thing is, most
people trust a Joe Shmoe review over a multi-million dollar public
relations campaign. Who can blame them with the amount of fraud and
deceit that is perpetrated by large corporations each year.
Are you clear about Web 2.0 and what it is?
If you are like most people, Web 2.0 is this foggy new concept that
leaves you with more questions than answers. In simplest form it is a
broad concept that covers all of the websites that are bringing the new
technology to market. These new sites allow a greater manipulation and
distribution of content than ever before.
What this means is we now have the ability to communicate with
1000’s of investors swifter than ever before. Messages can be passed
along throughout the web with an ease of publication that has never
before been seen. Investors can make a few clicks and all of the
content from one author is published on your site each day without any
extra time invested. Copy and paste a few lines of computer code and
you now have YouTube videos represented on your site instead of on
Many, many strategies and sites fit the Web 2.0 description but the
basic necessities are creating a personal blog and having profiles on
the various social networks like MySpace, Facebook and
Real-Estate-Investing.com. You can also do social bookmarking, article
writing like the one you are reading now, download mobile phone
applications and so much more.
Let’s bring this back around to Real Estate Investing. How do you
use Web 2.0 in your real estate business? First, networking is now a
breeze. You build a twitter profile and people all over the planet
start following you. You join a few of the REI social networks and find
other investors to chat with in your area. Finding other investors with
more experience can often pull you through to the next level. You can
make a video of your property and distribute it to 100’s of video sites
at one time with TubeMogul. The possibilities are really endless. Just
like in the marketing days of yesteryear, the creative bird usually
gets the worm.
You want to establish yourself as an authority or expert in your
particular niche of the investing world. The more exposure you can get
for yourself and your business, the more opportunities will flow your
direction. Web 2.0 levels the playing field so you now once again have
a chance to be the first in the mind of your potential sellers. The
trick is you have to figure out where they are and what they are doing
online. Then put your marketing information dead in their tracks. By
building a reputation ahead of time people can Google your trust factor
before they trust you with their most valued possession.
Maybe you are thinking, “Great, something more to spend money on.”
Hang on, that’s the best part of Web 2.0, the majority of it is free.
It will take you a few hours every week to make your posts and whatnot
but there is very little to no out of pocket expense. A small price to
pay for an equal voice in the real estate investing world.
The better you get at making fresh content, the less time you will
have to invest to obtain the same effect. The nice thing about the
internet is once you produce the data it’s out there and you will reap
rewards for umpteen years to come.
The last real estate downturn has left people searching for answers
and a new plan of action in their investment businesses. While the Web
2.0 strategies might not be cut and dry, Web 2.0 is definitely the
direction investors are now headed.