Real estate 2.0 is a term that evolved from the expression "Web 2.0 "which is used to describe the revolution in Web technology. There are disagreements over the definition of Web 2.0 but generally Web 2.0 describes Web environments that use applications that are necessary for blogging, social networking, multi-media presentations, and collaboration.

Many self-proclaimed experts cite Zillow, Inman News, and other Web based applications as Real Estate 2.0. Few real estate professionals are involved in, and knowledgeable of Web 2.0 technology to disagree with these short-sighted examples. Real Estate 2.0 is not limited to support services and does extend to real estate brokers and agents who are using the latest in technology to provide interactivity to their clients. For example, incorporating Twitter, Linked In, and Facebook provide the social networking. Forums allow for client interaction, and blogging provides a way to continually educate clients.

What is Required?

The technology to create a Real Estate 2.0 environment is not cheap. There are many applications that provide the functionality, but they require knowledge, skills, and abilities that most brokers and agents lack. Hiring a technologist to provide the functionality is definitely an option, but the price tags generally start at $8,000 and go into the $100,000s.

What is the Benefit of Real Estate 2.0 Websites?

The benefits for commercial brokers are many including offering owners and tenants with promotional Websites, a way to manage complex real estate projects, and a way to stay in touch with the market. More important, up-and-coming AND large purchasers of commercial properties need more than a way to contact their broker. They need a way to be involved in their property and a way to gain a competitive advantage.