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Tuesday, October 12, 2010

Facebook founder believes real estate buying will become a social activity

Facebook founder Mark Zuckerberg believes "Designing products around people will be universal...will not just be Facebook". He believes we are entering a new era of internet-based social activity wherein the "default is social" and things will be centered around people as opposed to things and objects.

In other words its not just a home you're buying, its a social atmosphere for people... including their virtual presences. Zuckerberg believes every industry will be effected by the social affect, including the car industry, the fashion industry, and the real estate industry.

Zuckerberg explains that when speaking face-to-face we use our knowledge about the person to assign value to what they're saying. Real estate advice from a friend has more value than advice from a stranger on the street, even if they're giving you the same advice.

With respect to real estate, this raises some interesting questions:

How large a role will the 'social' play in real estate?

Is 'social' advice more important than facts, photos and statistics?

How will a merger of 'social' and real estate manifest itself?

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