…never made much inroads with the real estate community (or real estate portals for that matter). Imagine if the Realtor.com team had bought Outside.in instead of building the neighborhoods project.
And it really doesn’t matter if it was Zillow, Trulia, AOL, Yahoo or Realtor.com, it could be a win for the real estate portal (lots of local traffic and increased SEO benefits for local terms), a win for Outside.in (monetizing within real estate is easy: featured agents, listings, etc. on neighborhood pages) and a win for consumers (a large portal could easily add more local data/content such as neighborhood stats and maps).
I’ve always felt that Outside.in had an interesting thing going and just needed some real estate influence to make it pop. Maybe the new CEO in the restructured Outside.in will do a better job reaching out to the real estate community…
This interview by Global Property exchange with Simon Baker, who just so happens to be the CEO of News Corporation-owned REA Group, features a few choice quotes about web2.0 start-ups in the real estate space. Here are the two comments that stuck out for me:
“You don’t have to look sexy to deliver.”
“Sites like Zillow.com get a lot of press and they look great but will they deliver? … I doubt whether they do more than US$3 million a year compared to Realtor.com’s US$300 million”
“Outside of Asia, South America and Eastern Europe, my advice [to would-be real estate portals] would be, keep your money. In fact, if you were given £20 million to start a new real estate portal, the best thing to do would be to [not to start the portal at all and] set up a consultancy to take the money from them.”
(h/t to Yannick of Properazzi)
Jessica Swesey got a sneak peak: AOL to launch a real estate portal… soon!