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Web 3.0 and Real Estate: Synthesis - Sramana Mitra on Strategy
By admin | July 14, 2007
Web 3.0 and Real Estate: Synthesis - Sramana Mitra on Strategy
Web 3.0 and Real Estate: Synthesis
Friday, July 13, 2007 Share/Send | No comments
Real estate sites are redefining the property business with property listing, realtor directory, mortgage calculator, financial advice and neighborhood info all at the click of a button. According to National Association of Realtors, the percentage of potential U.S. home buyers using the internet as part of their housing search process rose from 2% in 1995 to 77% in 2005 to over 80% in 2006. It is a business that primarily belonged to the newspaper industry before, but has since shifted over to the Internet in a massive way.
According to comScore, total Internet audience for real estate web sites grew by 15% from 34.79 million unique visitors in January 2006 to 39.85 million unique visitors in January 2007. The top players are Realtor, RealtyTrac, Homegain, Apartments, Rent, Zillow and ZipRealty. Hitwise, estimates that the top-10 real estate sites accounted for 30 percent of visits to all web sites in the real estate category in February 2007.
We have been reviewing the online real estate industry and have covered ZipRealty, Zillow and Move from the Web 3.0 perspective. Oodle, Trulia, Loopnet are some of the up and coming real estate sites.
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