The premise behind the site is Realtors can submit their listings to the site, and like other social bookmarking sites, if the community likes the property they can choose to “Hugg” it. Presumably the properties with the most Huggs will float to the surface. Consumers can surf through these properties on the Homehugg homepage.
I like the site (though I’m not crazy about the pink color scheme), if for no other reason than it offers a free and easy way for Realtors to generate new eyeballs on a property. They could even possibly use it to vet listing descriptions (perhaps even the pricing) against the community desires, i.e., tweaking the text to see if results in new Huggs. Homehugg also makes it easy for Realtors to add HomeHugg buttons to their websites.
For consumers however, the options are a little more limited. Right now, Hugging a Home is a little cumbersome. I’d love to see a bookmarklet that could speed up the submission process, so as I’m surfing homes I could quickly add them to HomeHugg like I can with del.icio.us or StumbleUpon.
Also, unfortunately, there doesn’t seem to be an RSS feed for “Hugged” homes. It would be nice to subscribe to a feed of homes from a particular city or state.
Hopefully we’ll see some of these changes as the site comes out of Beta.
More coverage: Home Love at HomeHugg at sellsius° real estate blog