I definitely value my stand alone website. I want something that is completely separate and under my full control from my brokerage or MLS. As others have said, I can brand myself there, send customers there to search listings. I've had lots of leads from Trulia, and it gets them off of Trulia and other public websites onto my own to search. Helps eliminates my competition.
I've recently changed my website to a much more contemporary site. That change is in process even today, so take a look at it in a few days and see what you think! CarlaPennington.com