City Edge on the Integration of Web 2.0 Applications in the

World of Real Estate

• Josh Penrose

• James Singer• James Scott• Mike Hallett• Richard Webster• Luke Whitaker

INTRODUCTION

• The Web within 15 years has grown from a group work tool for scientists at CERN (Center for European Nuclear Research) into a global information space with more than a billion users.

• Currently, it is both returning to its roots as a read/write tool and also entering a new, more social and participatory phase.

• These trends have led to a feeling that the Web is entering a ‘second phase’—a new, ‘improved’ Web version 2.0.

• The dot-com collapse marked a kind of turning point for the web.

• Such as the introduction of "Web 2.0“

What is Web 2.0?

• Originated in 2004

• Web 2.0 was referred to as this idea of the "Web as a platform".

• The concept was such that instead of thinking of the Web as a place where browsers viewed data through small windows on the readers' screens, the Web was actually the platform that allowed people to get things done.

• Today - Web 2.0 is really starting to mean a combination of the technology (like AJAX) allowing the customers to actually interact with the information.

• Web 2.0 is also starting to lead to the situation where amateur writers and developers are able to create applications and Web sites that get more credibility than traditional news sources and software vendors.

Web 2.0 Concepts• It’s about using the Web collaboratively - sharing and mixing up information and

resources — so moving on from the first generation of the Web, which was more about using websites just to publish content and sell things."

• It’s stuff like blogs and wikis.

• A wiki lets people team up to edit web pages and build out a web site.

• Wikipedia’s the best known example, you may have come across that.

• Mashups are a big part of it, too." A mashup is where you mix up data or actions from different websites, like hooking up property listings with Google maps to show where they are, for example.

• Although that was quite an early one with the application of web 2.0 they’re starting to get a lot more sophisticated.

Web 2.0 concepts cont….• So - Web 2.0 concepts have led to the development and evolution of web

culture communities and hosted services, such as:

• social-networking sites, video sharing sites, wikis, blogs.

• Web 2.0 websites allow users to do more than just retrieve information. They can build on the interactive facilities of "Web 1.0" to provide "Network as platform" computing, allowing users to run software-applications entirely through a browser.

• Users can own the data on a Web 2.0 site and exercise control over that data.

• This stands in contrast to very old traditional websites, the sort which limited visitors to viewing and whose content only the site's owner could modify.

• Web 2.0 sites often feature a rich, user-friendly interface based on Ajax,

OpenLaszlo, Flex or similar rich media.

Web 2.0 websites typically include some of the following features/techniques

1. Search: the ease of finding information through keyword search which makes the platform valuable.

2. Links: guides to important pieces of information. The best pages are the most frequently linked to.

3. Authoring: the ability to create constantly updating content over a platform that is shifted from being the creation of a few to being the constantly updated, interlinked work.

4. Tags: categorization of content by creating tags that are simple, one-word descriptions to facilitate searching and avoid rigid, pre-made categories.

5. Extensions: automation some of the work and pattern matching by using algorithms e.g. amazon.com recommendations.

6. Signals: the use of RSS (Really Simple Syndication) technology to notify users with any changes of the content by sending e-mails to them.

Popular Web 2.0 Applications

• Chances are you're already using some application that is a form of Web 2.0. Some of the most popular examples are:

– Gmail

– Google Maps

– Flickr

– Delicious

– Tecnorati

– Digg

The site we are using to demonstrate the concepts of Web 2.0 Is Biggerpockets.com.

VIRTUAL TOURhttp://www.biggerpockets.com/

HOW DO THESE FUNCTIONS WORK….?

….... through the integration of web 2.0 technology

1. Social Networking …. for example….

You are a small development company and are nearing the completion of a residential property in New York….

…. What do you need?

AN AGENT…

who you want

where you want him/her

Gea's the MAN!!!

PRO's and CON's • PRO's

– easy to use– speedy process to make contacts– contacts can be made across the entire U.S and Canada– The major benefit of this idea is liaising with people in similar situations as yourself

or simply gaining advice towards problems… or indeed handing out your own advice to other users.

– searching for properties can be made easy through other users uploading portfolios of interests they would like to sell (freehold or leasehold)

– you can also upload your own properties for other members to see.

• CON's– the main question here is "can you trust other members"– although you can find contacts quickly it might be essential to truly know your

contacts in order to trust them when divulging information– The terms and agreements might not cover all areas.

How the site uses blogs.

Blogs tab.

Create blogs.

List of blogs.

Main pro's and con's of this application:

Pro's• Can be a source for new business

partners.

• Information obtained can be significantly ahead of mainstream press. (Competitive intelligence). Important for investment.

• Solidifies ideas.

• Information and technical support.

• Voices opinions (feedback).

• Provides reflection.

• Provides a source for new and up to date ideas.

Con's• Uninteresting and useless blogs.

• Good information and contacts are hard to find.

• Can eat up time.

• Can be incoherent for a company.

How the site uses tags.

Headings in which articles have been tagged.

Number of tags.

Main pro's and con's of using this application.

Pro's

• Easy and effective way of categorising articles.

• Articles can be tagged by any author.

Con's

• Different opinions of categories.

Improvements that could be made.

Enhance the property search using mash ups.

Hotpads.com is a prime example:

Can search, for sale, for rent etc.

Can search by address or clicking on map.

Search criteria: Price, bedrooms etc.

Can zoom in or out. Can click on individual cities.

Maintains search criteria.

Shows property selected and details.

Benefits of using this type of mash-up.

• User friendly way of narrowing down searches.

• Users can find it entertaining to use.

• Visually indicates the location of properties.

•Provides detailed information through the use of tabs..

Where is Web 2.0 going?

• Web 2.0 potentially has a huge future • Social Media Networking - Facebook

- Youtube

• Business Networking - Zoho

- Delicious

• Mashups

- Google maps

Web 3.0?

• The 'Executable' phase• The concept that everyone can not only publish, but

innovate• Dynamic applications• Interactive Services

Advantages of Web 2.0

• Access on demand

• Allows for a more immersive use of the Web

• Paper to paperless

• Wired to wireless

• Increase in number of Web users will create new economies in innovation

• Lowers labour & communication costs

• Improves workload efficiency

• Increased profit margins

• Increased accessible knowledge bank

• Online meetings

Obstructions to companies for using Web 2.0

• Reliability issues if server goes down

• Takes time for certain applications to become universal

• Training costs involved

• Time and money on phasing company into new methods of working

Final Thought

" Wealth in the new regime flows directly from innovation, not optimisation."

Kevin Kelly, Wired Magazine

ANY QUESTIONS?