Connie, this is a great question that you are sure to get some great responses to. There are many solutions to web site creation and hosting. Too many! One will find it difficult to find the solution that encompasses all that you need in today's highly competitive market. For most agents the answer lies not so much in the solution but in how much time you are willing to commit. To have a successful site, you will have to commit a substantial amount of time to your chosen site for the duration that it is active. That commitment will be huge in the beginning ( 8-12 hours a week for 1+years) and then could be maintained with a continued commitment of only 3-4 hours a week after that. This is something that most are not prepared to do. Assuming that you are prepared and unable to create your own site, I would recommend that you contact Point2 or, have someone create a site for you that your have 100% control and ownership of. The first is free and the latter's cost is only limited by your budget and the functionality you wish for your site. We have more than 20 separate sites. 10 of them were self created and maintained, the others were either free or low cost solutions from Point2 and others. Utilizing multiple solutions has increased our traffic substantially and our web marketing is responsible for over 50% of our current business. The remainder comes from referrals and other, more "traditional" methods.
As for content, I would not buy into any plan that included generic content that will be shared with thousands of other agents. Create as much of your own content as you can and add to it over time. Hosting your own blog on your site and encouraging others to participate can be a great way to keep a stream of fresh content. We do not host a local blog yet do include feeds from some on a few of our sites. The main reason for maintaining multiple sites is that you can tweak one site and then watch the results. If they are positive, you can apply those changes to your most popular site. Some changes can have a negative impact that results in a major loss in visibility and you do not want this to happen to your main concern. Again, most agents do not have the time or desire to do what is necessary in which case, I would look for one of many free solutions out there and then focus your time on contributing to Trulia and Active Rain which can provide much more exposure with consistent results. Speak to the consumer and they will look to you for the answers in your area.