Msg#: 3946767 posted 6:51 am on Jul 6, 2009 (gmt 0)
In a move that has raised eyebrows among established players in the classified real-estate business, Google Australia is set to unveil a new tool on its mapping service that will directly link buyers and renters to available property.
The Google Maps feature, which launches this afternoon in Australia and New Zealand, will host free listings supplied by real-estate agents and publishers.
Although many existing publishers and real-estate agents offer map-based searching, the maps on Google's new service will reflect real-time changes in search criteria and location.
The technology behind this enhancement was developed by engineers at Google's Sydney office and is also being rolled out on the company's existing property search service in the United States.
Google's offering is open to all comers, potentially giving renters and buyers a much bigger choice.
Msg#: 3946767 posted 12:15 am on Jul 7, 2009 (gmt 0)
Real estate agents would not be wise to put the information and exact location on the map unless they have a sole agency agreement with the seller.
And if owners put the property on the map, will they take it off map once it is sold? How is this going to be controlled? Or will the map soon become full of already sold properties?
And IanCP is absolutely right about over-inflated ideas of property. There will surely be a number of sellers who are not selling actively, but would consider selling if someone pays way over inflated price.
I might be wrong but this is why I am doubtful this will work and give real value to the end user, i.e. the buyer. The time will tell though!