The mass media – CNN, Marketwatch.com, NYT.com – all depend upon delivering “breaking news” relevant to their audience. It’s been that way since “Extra, Extra, Read all about it”. The “breaking news” play is evident in the institution blog world with properties like Engadget and Gizmodo warring to get the latest tech toy published first.
Breaking news is critical for making time sensitive purchase decisions – nobody should buy GM stock, purchase a home or car, or lock in an interest rate without checking what is happening in the markets and how it impacts their purchase decision.
How Breaking News Real Estate Sites Become a Mass Media Property
The new breaking news websites like Homescopes, a real estate site of blogging Realtors devoted to granularly chronicling the Northern California housing marketing in real time, is a far better resource for analyzing this local market than any journalist writing a weekly real estate column. Homescopes is planning to expand to having 100 real estate “journalists” covering this regional market. Once this happens, Homescopes becomes a bona fide source of professional real estate opinion, and can now leverage their collective knowledge base by teaming up with the traditional mass media for supplemental content delivery. Imagine Homescopes as a part of the San Francisco Chronicle coverage of the real estate market in the Bay Area… Homescopes’ agents benefit from exposure in a mass media publication that is akin to free advertising.
In addition, Homescopes will be able to leverage their portable social graph – readers can log into Homescopes through their Facebook account via Facebook Connect or via similar channels like Google Friend Connect. Like all social media plays, these various Homescopes social networks will build on the trust and credibility that develops among the membership.
Homescopes is singular in the landscape of independent real estate sites by providing breaking news cooperatively and in hyperlocal detail by its participating agents. No other real estate sites – Trulia, Inman News, Realtor.com – can provide this level of local detail in a news feed based format. Simple to build at little cost, all it takes are ringleaders who see the opportunity to replicate Homescopes in their markets.