queenstown - nov 18 2009

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How the internet is transforming real estate Queenstown – November 2009

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Presentation to real estate agents in Queenstown on the impact the web is having on real estate and the many opportunities it opens up. Providing insight and services to the industry from the industry owned website of realestate.co.nz

TRANSCRIPT

Page 1: Queenstown - Nov 18 2009

How the internet is transforming real estate

Queenstown – November 2009

Page 2: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 3: Queenstown - Nov 18 2009

Well past the bottom into a boom??

Page 4: Queenstown - Nov 18 2009

Property Prices – Comparison to UK

Page 5: Queenstown - Nov 18 2009

Property Prices - rebounding

Page 6: Queenstown - Nov 18 2009

Sales volumes still subdued – not a boom

Page 7: Queenstown - Nov 18 2009

Access to accurate, timely and comprehensive data is

critical

Information is key – but property is not just an investment

Page 8: Queenstown - Nov 18 2009

Sep Oct Nov Dec Jan

Conditional offer 21 Oct

Unconditional offer 16 Nov

Settlement 13 DecListed 27 Sep

Protracted release of property data

Page 9: Queenstown - Nov 18 2009

New monthly report

Page 10: Queenstown - Nov 18 2009

Otago Lakes new listings - steady

Page 11: Queenstown - Nov 18 2009

Supply – true inventory receeding from peak

Page 12: Queenstown - Nov 18 2009

Property Prices – growth in price expectation

Page 13: Queenstown - Nov 18 2009

Demand – web traffic as a surrogate of consumer confidence

Page 14: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 15: Queenstown - Nov 18 2009

Why you need to understand the web?

Today more than 1.2 billion people are online viewing over

1,000,000,000,000 web pages

Why?

Page 16: Queenstown - Nov 18 2009

A transformation in 10 years

Page 17: Queenstown - Nov 18 2009

Edging ever closer to 100% online search

National Association of Realtors Home Buyer Survey 2008

Page 18: Queenstown - Nov 18 2009

The web is the first and only choice

Choice of media for real estate search in the past week – NZ 2009

9% 12%9%

Page 19: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 20: Queenstown - Nov 18 2009

“Edutainment”

Breadth

Understanding interest / behaviour

Browse full set of listings in target areas

Depth

“Serious buyers”

Narrow down to view target listings in area Narrow down to view target listings in area

Quick-look filter Quick-look filter

Deeper filter & inspirationDeeper filter & inspiration

Price check & risk reductionPrice check & risk reduction

Depth

Browse full set of listings in target areas

Page 21: Queenstown - Nov 18 2009

The online search experience is evolving

Searching for property

Page 22: Queenstown - Nov 18 2009

Clearer role for websites

Searching for propertybuy

Searching for someone to help me sell my property

Page 23: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 24: Queenstown - Nov 18 2009

3 years of growth – 27% per annum vs. market 17%

Page 25: Queenstown - Nov 18 2009

Now delivering over 25,000 email enquiries per month

Page 26: Queenstown - Nov 18 2009

Realestate.co.nz is the market leader for international visitors searching for NZ real estate...

+ 43% more traffic than trade me property

International visitor traffic to NZ real estate listings – Oct 2009

124,521124,521 87,27887,278 20,31120,311

Page 27: Queenstown - Nov 18 2009

Realestate.co.nz – the most comprehensive

Trade Me residential property listings - 56,019 includes an

estimated 6,000 private listings

Page 28: Queenstown - Nov 18 2009

25,0166,000 / week

25,0166,000 / week

3,6364,500 / week

3,6364,500 / week

7,8103,500 / week

7,8103,500 / week

43,107100,000 / week

43,107100,000 / week

10,50315,000 / week

10,50315,000 / week

16,4128,000 / week

16,4128,000 / week

7,16230,000 /

week

7,16230,000 /

week

Not one site – many audiences

112,000 listings – 168,000 sessions per week112,000 listings – 168,000 sessions per week

Page 29: Queenstown - Nov 18 2009

What we are doing to help you

Page 30: Queenstown - Nov 18 2009

New – market leading website

Page 31: Queenstown - Nov 18 2009

Rich / easy browsing & searching

Page 32: Queenstown - Nov 18 2009

Large images - easy to use

Page 33: Queenstown - Nov 18 2009

Specialised site for commercial property

Page 34: Queenstown - Nov 18 2009

Specialised site for business brokers

Page 35: Queenstown - Nov 18 2009

Specialised site for farms

Page 36: Queenstown - Nov 18 2009

Making it easy for offices

Page 37: Queenstown - Nov 18 2009

Property information at your finger tips

Page 38: Queenstown - Nov 18 2009

Providing information – 24hrs a day

Page 39: Queenstown - Nov 18 2009

Every property has a web page – 1,528,453 properties

Page 40: Queenstown - Nov 18 2009

Property Information

Page 41: Queenstown - Nov 18 2009

Context of aerial images

Page 42: Queenstown - Nov 18 2009

Community information – where to live

Page 43: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 44: Queenstown - Nov 18 2009

What are they looking for?

Page 45: Queenstown - Nov 18 2009

Get the basics right – help buyers!

1. No limit on photos

2. Avoid abbreviations

3. No limit on words

4. Sell the benefits

5. Create emotional connections

Page 46: Queenstown - Nov 18 2009

What not to do!!

Page 47: Queenstown - Nov 18 2009

What not to do!!

Page 48: Queenstown - Nov 18 2009

Email alerts – first impressions count!

Page 49: Queenstown - Nov 18 2009

No substitute to comprehensive information

Page 50: Queenstown - Nov 18 2009

Photos are so important!

Page 51: Queenstown - Nov 18 2009

The web provides so much information... enough to replace an agent??

Page 52: Queenstown - Nov 18 2009

Richer and richer information

Page 53: Queenstown - Nov 18 2009

New functionality

• Search filter

• Email schedule

Page 54: Queenstown - Nov 18 2009

How can you stand out from the masses?

Page 55: Queenstown - Nov 18 2009

Featured listings

Page 56: Queenstown - Nov 18 2009

Featured listings

Page 57: Queenstown - Nov 18 2009

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

Call us 0800 732 536

Page 58: Queenstown - Nov 18 2009

Some examples

3 bedroom Onerahi$500k

Page 59: Queenstown - Nov 18 2009

Some examples

Page 60: Queenstown - Nov 18 2009

Buyers - call to action

Page 61: Queenstown - Nov 18 2009

1. Telephone

2. Website

3. Email

4. Open home

5. Office visit

Enquiry leads come in many forms

Page 62: Queenstown - Nov 18 2009

How do you rate – responding to emails?

Response timing is improving – but 12% never respond!

Page 63: Queenstown - Nov 18 2009

1. The marketplace – current state of the market

2. Trends in online real estate

3. Understanding buyer behaviour

4. Realestate.co.nz

5. Getting the basics right - listings

6. Your profile – your future!

The internet is transforming real estate

Page 64: Queenstown - Nov 18 2009

How to use the web to build you profile and network?How?

Page 65: Queenstown - Nov 18 2009
Page 66: Queenstown - Nov 18 2009

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

2000: 1,000,000,000 web pages2000: 1,000,000,000 web pages

2008: 1,000,000,000,000 web pages2008: 1,000,000,000,000 web pages

100,000,000,000 clicks per day100,000,000,000 clicks per day

Page 67: Queenstown - Nov 18 2009

?How to be found on Google!

Page 68: Queenstown - Nov 18 2009

The power of links

Page 69: Queenstown - Nov 18 2009

Online reputation is key

Page 70: Queenstown - Nov 18 2009

Prediction:

• 90% of your sales will come from word of mouth or digital promotion by 2011.

• How do you change what you're doing today to be ready for that?

Online reputation is your future

Page 71: Queenstown - Nov 18 2009

If you are not found on Google ......

Page 72: Queenstown - Nov 18 2009

Part 1: Find yourself on Google

Page 73: Queenstown - Nov 18 2009

Login / sign up / profile yourself

Page 74: Queenstown - Nov 18 2009

Build your profile – free of charge

Page 75: Queenstown - Nov 18 2009

Part 2 : Create a place on the web

Page 76: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

Page 77: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

www.twitter.com

Page 78: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

www.youtube.com

Page 79: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

www.linkedin.com

Page 80: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

www.facebook.com

Page 81: Queenstown - Nov 18 2009

Part 3 : Drive traffic to that place

Page 82: Queenstown - Nov 18 2009

Links build visibility..

Page 83: Queenstown - Nov 18 2009

Be found when people are looking for you

Page 84: Queenstown - Nov 18 2009

Blogs – hosted on realestate.co.nz

Page 85: Queenstown - Nov 18 2009

Its time to embrace social media / marketing

Page 86: Queenstown - Nov 18 2009

Build networks / referrals / credibility

1. Relevant

2. Authentic

3. Transparent

4. Committed

Page 87: Queenstown - Nov 18 2009

Sell yourself!

Page 88: Queenstown - Nov 18 2009

Promote yourself everyday to over 15,000 people a day

Just 3 agents per suburb

Oct / Nov

$15 / $75 / $150 per month

Online ordering and credit card transaction

Page 89: Queenstown - Nov 18 2009

“Homebuyers & Agents have information overload.

Agents must create legitimate value-add services & become the trusted go-to person”

Stefan Swanepoel

Embrace the change and be recognised

Page 90: Queenstown - Nov 18 2009

Enjoyed the presentation?

www.tinyurl.com/nzrealestatewww.tinyurl.com/nzrealestate

Page 91: Queenstown - Nov 18 2009

Proudly supporting the real estate

industry

Proudly supporting the real estate

industry