real estate salespersons presentation august 2009
DESCRIPTION
Presentation to sale teams on the subject of the manner in which the internet is transforming real estate in NZ. How to manage the change, how to optimise online listings, respond to inquiries and build your profileTRANSCRIPT
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How the internet is transforming real estate
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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Are we through the great housing crash !!??
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Fundamentals in NZ vastly different
-3.4%
-20.6%
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Price declines arresting..
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. .the result of 9 turbulent years !!
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The market in sales is stabilising
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However volumes are still incredibly low..
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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A transformation in 10 years
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Edging ever closer to 100% online search
National Association of Realtors Home Buyer Survey 2008
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78%
63%
46%
40%
38%
38%
36%
35%
31%
29%
5%
4%
4%
2%
9%
69%
55%
55%
49%
34%
25%
25%
24%
43%
21%
2%
4%
2%
7%
Specialist Real Estate Websites
Company Real Estate Websites
Specialist Real Estate Magazines
Community/Local newspapers
Company Real Estate Magazines
Search Engines
For Sale Signs
Real Estate Brochures
Metropolitan Newspapers - print or online editions
Real Estate Office Window Displays
Billboards
Consumer Magazines
Television
Directories
Other
2009
2008
NZ: Media usage – searching for property
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Consumer attitude - newspapers ??
95% consider specialist website useful / very useful
Consumer attitudes to online search
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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Traditional model has changed
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Buyers now feel in control
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Relationship with buyers has changed
5 – 10 years ago
Today
Research / Research / Research
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“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
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The online search experience is evolving
Searching for property
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Clearer role for websites
Searching for propertybuy
Searching for someone to help me sell my property
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25,0166,000 / week
25,0166,000 / week
3,6364,500 / week
3,6364,500 / week
7,8103,500 / week
7,8103,500 / week
41,107100,000 / week
41,107100,000 / week
10,10315,000 / week
10,10315,000 / week
17,4128,000 / week
17,4128,000 / week
7,16230,000 /
week
7,16230,000 /
week
Not one site – many audiences
110,000 listings – 168,000 sessions per week110,000 listings – 168,000 sessions per week
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Understanding interest / behaviour
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““Traditional agents will Traditional agents will not be replaced by not be replaced by
technology...technology...
..they will be replaced ..they will be replaced by agents with by agents with
technology”technology”
Real estate professionals need to change!
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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The web is critical in real estate marketing - Over 1,000,000 sessions of searching per week..
34% up on same period last year
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..early signs of seasonal pick up – the web provides a critical lead indicator
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To match increase searching – more listings coming onto the market
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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3 years of growth – 27% per annum vs. market 17%
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The 2 top websites dominate the market...
Total number of uniqueWeb visitors - July
1,415,803
+7%
Total number of uniqueWeb visitors - July
1,415,803
+7%
Total number of property sales Year to date 2009
34,169
41 visitor for every buyer!
Total number of property sales Year to date 2009
34,169
41 visitor for every buyer!
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In July - 58% of visitors to realestate.co.nz
DID NOT VISIT trade me property website
– that is over 200,000 unique property seekers
213,155 Unique visitors visited realestate.co.nz - but did NOT
visit trade me property157,590 UB’s
visited BOTH sites
..however realestate.co.nz attracts a unique audience
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Realestate.co.nz is the market leader for international visitors searching for NZ real estate...
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Up to the minute activity in the market - emails
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Realestate.co.nz – the most comprehensive
Trade Me residential property listings - 49,373 includes an
estimated 6,000 private listings
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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
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Property information at your finger tips
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Providing information – 24hrs a day
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1,528,000 properties in NZ
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Every property has a web page
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Context – where in relation to schools
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Context of aerial images
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Community information – where to live
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Property and lifestyle information
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What’s on the market?
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Who lives in that suburb?
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. The web provides rich information
5. Realestate.co.nz
6. Getting the basics right - listings
7. Your profile – your future!
The internet is transforming real estate
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What are they looking for?
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Google Maps – real estate
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Address
Accurate pricing Large images / high quality images
Maps
Get the basics right!
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What are they looking at??
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Email alerts – first impressions count!
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No substitute to comprehensive information
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Photos are so important!
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The web provides so much information... enough to replace an agent??
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Richer and richer information
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New functionality
• Search filter
• Email schedule
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How can you stand out from the masses?
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Featured listings
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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
17 times more views
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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
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Buyers - call to action
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1. Telephone
2. Website
3. Email
4. Open home
5. Office visit
Enquiry leads come in many forms
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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?
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How do you rate – responding to emails?
Response timing is improving – but 12% never respond!
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• Make sure you receive them!
– Check your email address
– Avoid gmail / xtra / webmail
• Respond as soon as practicable
– Use technology / or support teams
• Carefully consider your responses
Emails
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1. Treat every email as a prospective buyer
2. Don’t be pushy – don’t demand a contact number
3. Answer their question
4. Treat the enquirer as a very early enquirer “I appreciate you may be at an early stage of looking for a property”
Emails – etiquette
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The advice works!...
thanks for your email.
yes you are right. we have just started looking for a house in Parnell. Was looking more into Remuera, Greenlane, and Epsom. Didn't look into Parnell as I heard about how land in Parnell is leasehold. Not too sure where the line start and end.
Anyway, target area is for a Grammer zoned area. As we got a little girl that is close to 3 years old.
we prefer not to have any body corp. As we are not too sure if we want the hassle. I know some people prefers it.
Anyway, thanks
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What would I do?
Market information• Research the local market – RSS feed / email alerts• Know every property on the market – track performance• Track listing volumes / sales volumes• Track open homes – email alerts
Listing• Professional photography• Clear, comprehensive description• Video• Featured listing• Proof everything before publishing
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1. The web is the home of real estate
2. Understanding the buyer behaviour
3. The web provides rich information
4. Getting the basics right - listings
5. Your profile – your future!
How to make the most of the web
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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
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?How to be found on Google!
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The power of links
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To be found you need to be online
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Part 1: Find yourself on Google
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Part 2 : Be found on Google
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Blogging – conversations online
• Web page
• Library of articles
• Profile
• Authentic / Transparent
• Requires commitment
• The most powerful form of marketing
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Blogs – hosted on realestate.co.nz
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What buyers want information on?
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Social Media – building a profile
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Free profile page – linked to your listings
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Sell yourself!
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Promote yourself everyday to over 15,000 people a day
Just 3 agents per suburb
July / Aug / Sep
$15 / $75 / $150 per month
Online ordering and credit card transaction
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Login / sign up / profile yourself
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“Homebuyers & Agents have information overload.
Agents must create legitimate value-add services & become the trusted go-to person”
Stefan Swanepoel
The changing face of real estate
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Proudly supporting the real estate
industry
Proudly supporting the real estate
industry