Today we’re seeing sophisticated mapping solutions; online home valuations, and other tools that allow practitioners to access public records. We also have new methods of communication — text messaging, blogging, and video — which allow consumers to have a more interactive experience with their real estate agent. Next year will probably see much more of the same, but we’ll see marked improvements as the above initiatives continue to develop.

How will the industry change in five years? It’s hard to predict, but I think we’ll continue to further empower the consumer, which in turn will generating repeat and referral traffic to individual Web sites. I expect to see a continued effort to bundle real estate services. I also expect to see industry-changing alliances that will focus on improving or streamlining services to reduce cost and to speed up the rate of development of new technologies.

The real estate industry has lagged behind many other industries in adopting technology as a part of our everyday business. Opportunity is knocking. It is an interesting time to be in the real estate industry.

Liability on the Web

Anonymous: Does a broker who answers a question on a blog or a real estate Web site like Yahoo! open himself up to liability?

Sami Inkinen: The rules shouldn’t change from the offline to the online world when you answer a question at a Web site or blog. Real estate professionals should always adhere to the legal and ethical guidelines they committed to as REALTORS®, as well as to their federal, state, and local laws on fair housing.

In fact, we addressed this topicin the launch of Trulia Voices, our new real estate Q&A community where practitioners can answer consumers’ pressing questions about local markets while positioning themselves as the local real estate expert. Answering questions online provides a good opportunity to connect with consumers who are beginning their home search, but make sure to respond in the same professional and legal manner you would offline. If you have questions, ask your broker or association legal hotline.

Listing Data at REALTOR.com

Tony Brown: Why doesn't REALTOR.com show property addresses for some listings?

Tim Kline, marketing manager of Internet products, NAR: I am NAR's liaison with Move Inc. (formerly Homestore), which operates REALTOR.com. I work with Move to answer members’ inquires regarding the site.

To answer your question, REALTOR.com does display addresses on the majority of its 4.2 million listings. That’s NAR’s preference, as it really serves the best interests of our members, their clients, and consumers. Not allowing addresses to be displayed or mapped online, where 80 percent of potential buyers are searching for homes, would be self-defeating.

Approximately 900 MLSs nationwide provide listing data for REALTOR.com, and these local MLSs decide whether to display of addresses on individual listings in their area. They also determine whether individual listings may be mapped.

If addresses are not being displayed or mapped on the listings from your MLS, you should discuss this with your local MLS committee and staff leadership, as your membership is missing out on the full marketing benefits of REALTOR.com.

Quite simply, listings that do not include addresses or mapping data will not receive the traffic they otherwise would get from consumers who use REALTOR.com's Microsoft Virtual Earth mapping tools to navigate listings. This will only become even more obvious as future enhancements more easily allow consumers to search by neighborhood.