realestate.co.nz real estate business owners jun 09

Real estate 3.0

Going beyond listings websites

1. The marketplace – current state of the market

2. Trends in online real estate

3. Realestate.co.nz

4. Getting the basics right - listings

5. Your profile – your future!

Real Estate 3.0 – the future

The great housing crash !!??

Beware of media hype!

-3.4%

-23.1%

-31.1%

Continued price declines

2 very different decades

Market value trebled in 6 years

$41 billion

$22 billion

$13 billion

The highs and the lows – property sales

122,000

53,500

63,000

Edging back to normal levels

Strong start to 2009

Supply and demand – drivers of the market

Significant fall in new listings...

...bringing inventory levels back

Understanding and interpreting information

1. The marketplace – current state of the market

2. Trends in online real estate

3. Realestate.co.nz

4. Getting the basics right - listings

5. Your profile – your future!

Real Estate NZ – our industry

Latest research from USA – the web #1 for search

National Association of Realtors Home Buyer Survey 2008

More and more people searching online for property – 20 million year to date

Over 1,000,000 visitor sessions per week through Feb / Mar / May up 15%

Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites

Strong enquiry levels

1. The marketplace – current state of the market

2. Trends in online real estate

3. Realestate.co.nz

4. Getting the basics right - listings

5. Your profile – your future!

Real Estate NZ – our industry

Consistent growth – outperforming the market

Driving international viewers

Up to the minute activity in the market - emails

Realestate.co.nz – your site

Trade me showing clear weakness

2007/8 2008/9

Offices 1,450 1,220

Subscribers 1,300 1,147

Share 90% 94%

Subscription $2.93m $2.64m

Web traffic 265,000 365,000

Profit Reinvested Reinvested

Scorecard to the shareholders

Future for realestate.co.nz

1. The best and most respected marketing tool for real estate professionals

2. Most valued online source of property information

3. Trusted / authoritative source of real estate information

4. Leaders in online marketing – tools and services

Property information at your finger tips

Providing information – 24hrs a day

1,528,000 properties in NZ

Every property has a web page

Context – where in relation to schools

Context of aerial images

Community information – where to live

Property and lifestyle information

What’s on the market?

Who lives in that suburb?

1. The marketplace – current state of the market

2. Trends in online real estate

3. Realestate.co.nz

4. Getting the basics right - listings

5. Your profile – your future!

Real Estate NZ – our industry

What are the key sources of property information

Evolving consumer experience

Searching for property

Evolving consumer experience

Searching for propertybuy

Searching for someone to help me sell my property

Getting inside the minds of buyers??

6 weeks of researching

2½ hours per week on specialist real estate websites

55%

Evolving consumer experience

Searching for propertybuy

Searching for someone to help me sell my property

What are they looking for?

Richer and richer information

Information online – StreetView from Google

Featured listings

Featured listings – cost effective advertising

Negotiation AuctionListing # UPH10354 PO081104 Price range: $700k - $1m $750k - $850k

Listed: 21 Nov 21 Nov

4,114 page views in January with a featured

listing

232 page views in January

14 days with a featured listing delivers an

audience of over 10 times more viewings than a regular listing

$250 $250 inc GSTinc GST

Featured listing for just

Vendor paid marketing – that delivers

Handling enquiries

• Enquiries from buyers – when they have a question

• Only when they have exhausted their searching

• Responsiveness is critical

• How do you rate your performance?

How do you rate – responding to emails?

Response timing is improving – but 12% never respond!

To be found you need to be online

Be responsive!

Evolving consumer experience

Searching for propertybuy

Searching for someone to help me sell my property

1998 : 26,000,000 web pages1998 : 26,000,000 web pages

2000: 1,000,000,000 2000: 1,000,000,000

2008: 1,000,000,000,0002008: 1,000,000,000,000

Business is a conversation!

Blogs – hosted on realestate.co.nz

What buyers want information on?

Social Media – building a profile

Real Estate 3.0 – the future