Harcourts - North Shore presentation 10 Aug 09

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Presentation to Coopers & Co sales teams - North Shore, Auckland 10 Aug 2009

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Harcourts - North Shore presentation 10 Aug 09

  1. 1. How the internet is transforming real estate
  2. 2. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  3. 3. Are we through the great housing crash !!??
  4. 4. Fundamentals in NZ vastly different -3.4% -20.6%
  5. 5. Price declines arresting..
  6. 6. . .the result of 9 turbulent years !!
  7. 7. The market in sales is stabilising
  8. 8. However volumes are still incredibly low..
  9. 9. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  10. 10. A transformation in 10 years
  11. 11. Edging ever closer to 100% online search National Association of Realtors Home Buyer Survey 2008
  12. 12. NZ: Media usage – searching for property
  13. 13. 95% consider specialist website useful / very useful Consumer attitudes to online search Consumer attitude - newspapers ??
  14. 14. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  15. 15. Traditional model has changed
  16. 16. Buyers now feel in control
  17. 17. Relationship with buyers has changed 5 – 10 years ago Today Research / Research / Research
  18. 18. “ Edutainment” Breadth Understanding interest / behaviour Browse full set of listings in target areas Browse full set of listings in target areas Depth “ Serious buyers” Narrow down to view target listings in area Quick-look filter Deeper filter & inspiration Price check & risk reduction Depth
  19. 19. The online search experience is evolving Searching for property
  20. 20. Clearer role for websites Searching for property buy Searching for someone to help me sell my property
  21. 21. 25,016 6,000 / week 3,636 4,500 / week 7,810 3,500 / week 41,107 100,000 / week 10,103 15,000 / week 17,412 8,000 / week 7,162 30,000 / week Not one site – many audiences 108,000 listings – 168,000 sessions per week
  22. 22. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  23. 23. >1,000,000 sessions per week 40% up on same period last year
  24. 24. Seasonal pick up– the web provides key indicator
  25. 25. New listings though are still scarce!
  26. 26. ..with an emerging sellers market
  27. 27. Supply and demand in the local market
  28. 28. “ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” Real estate professionals need to change!
  29. 29. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  30. 30. More than just a website <ul><li>Syndicated to MSN / Yahoo news sites – over 600,000 UB per day </li></ul><ul><li>Top indexed website for real estate on Google – over 85% of NZ search </li></ul><ul><li>Free profile page for each salesperson </li></ul><ul><li>Links to all office and agent webpages </li></ul><ul><li>Comprehensive listing activity reports </li></ul><ul><li>Unlimited photos </li></ul><ul><li>Video and interactive floor plans </li></ul><ul><li>Comprehensive market reporting data – monthly NZ Property Report </li></ul><ul><li>Free blog platform for agents </li></ul><ul><li>Feature advertising for agents and properties – delivering value </li></ul><ul><li>Extensive training seminars – over 120 events, 2,000 attendees </li></ul><ul><li>Monthly email with advice and support </li></ul><ul><li>The most cost effective advertising medium in real estate </li></ul><ul><li>Protecting the industry from aggressive media profit motives </li></ul>
  31. 31. 3 years of growth – 27% per annum vs. market 17%
  32. 32. Realestate.co.nz is the market leader for international visitors searching for NZ real estate...
  33. 33. Realestate.co.nz – the most comprehensive Trade Me residential property listings - 49,373 includes an estimated 6,000 private listings
  34. 34. Future for realestate.co.nz <ul><li>The best and most respected marketing tool for real estate professionals </li></ul><ul><li>Most valued online source of property information </li></ul><ul><li>Trusted / authoritative source of real estate information </li></ul><ul><li>Leaders in online marketing – tools and services </li></ul><ul><li>The site is constantly being developed </li></ul><ul><li>New enhancements – leading edge </li></ul><ul><li>Industry leadership! </li></ul>
  35. 35. Property information at your finger tips
  36. 36. Providing information – 24hrs a day
  37. 37. Every property has a web page – 1,528,453 properties
  38. 38. Property Information
  39. 39. Context of aerial images
  40. 40. Community information – where to live
  41. 41. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  42. 42. What are they looking for?
  43. 43. Google Maps – real estate
  44. 44. Address Accurate pricing Large images / high quality images Maps Get the basics right!
  45. 45. Some examples
  46. 46. What not to do!!
  47. 47. What are they looking at??
  48. 48. Email alerts – first impressions count!
  49. 49. No substitute to comprehensive information
  50. 50. Photos are so important!
  51. 51. The web provides so much information... enough to replace an agent??
  52. 52. Richer and richer information
  53. 53. New functionality <ul><li>Search filter </li></ul><ul><li>Email schedule </li></ul>
  54. 54. How can you stand out from the masses?
  55. 55. Featured listings
  56. 56. Featured listings
  57. 57. 14 days with a featured listing delivers an audience of over 10 times more viewings than a regular listing $250 inc GST Featured listing for just Vendor paid marketing – that delivers Call us 0800 732 536
  58. 58. Some examples 4 bedroom Browns Bay $500k to $700K 11 properties
  59. 59. Some examples
  60. 60. Buyers - call to action
  61. 61. <ul><li>Telephone </li></ul><ul><li>Website </li></ul><ul><li>Email </li></ul><ul><li>Open home </li></ul><ul><li>Office visit </li></ul>Enquiry leads come in many forms
  62. 62. Handling enquiries <ul><li>Enquiries from buyers – when they have a question </li></ul><ul><li>Only when they have exhausted their searching </li></ul><ul><li>Responsiveness is critical </li></ul><ul><li>How do you rate your performance? </li></ul>
  63. 63. How do you rate – responding to emails? Response timing is improving – but 12% never respond!
  64. 64. <ul><li>Make sure you receive them! </li></ul><ul><ul><li>Check your email address </li></ul></ul><ul><ul><li>Avoid gmail / xtra / webmail </li></ul></ul><ul><li>Respond as soon as practicable </li></ul><ul><ul><li>Use technology / or support teams </li></ul></ul><ul><li>Carefully consider your responses </li></ul>Emails
  65. 65. <ul><li>Treat every email as a prospective buyer </li></ul><ul><li>Don’t be pushy – don’t demand a contact number </li></ul><ul><li>Answer their question </li></ul><ul><li>Treat the enquirer as a very early enquirer “ I appreciate you may be at an early stage of looking for a property ” </li></ul>Emails – etiquette
  66. 66. The advice works!... <ul><li>thanks for your email. </li></ul><ul><li>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. </li></ul><ul><li>Anyway, target area is for a Grammer zoned area. As we got a little girl that is close to 3 years old. </li></ul><ul><li>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. </li></ul><ul><li>Anyway, thanks </li></ul>
  67. 67. What would I do? <ul><li>Market information </li></ul><ul><li>Research the local market – RSS feed / email alerts </li></ul><ul><li>Know every property on the market – track performance </li></ul><ul><li>Track listing volumes / sales volumes </li></ul><ul><li>Track open homes – email alerts </li></ul><ul><li>Listing </li></ul><ul><li>Professional photography </li></ul><ul><li>Clear, comprehensive description </li></ul><ul><li>Video </li></ul><ul><li>Featured listing </li></ul><ul><li>Proof everything before publishing </li></ul>
  68. 68. <ul><li>The web is the home of real estate </li></ul><ul><li>Understanding the buyer behaviour </li></ul><ul><li>The web provides rich information </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>How to make the most of the web
  69. 70. <ul><li>1998 : 26,000,000 web pages </li></ul><ul><li>2000: 1,000,000,000 web pages </li></ul><ul><li>2008: 1,000,000,000,000 web pages </li></ul><ul><li>100,000,000,000 clicks per day </li></ul>
  70. 71. ? How to be found on Google!
  71. 72. The power of links
  72. 73. To be found you need to be online
  73. 74. Part 1: Find yourself on Google
  74. 75. Part 2 : Be found on Google
  75. 76. Blogging – conversations online <ul><li>Web page </li></ul><ul><li>Library of articles </li></ul><ul><li>Profile </li></ul><ul><li>Authentic / Transparent </li></ul><ul><li>Requires commitment </li></ul><ul><li>The most powerful form of marketing </li></ul>
  76. 77. Blogs – hosted on realestate.co.nz
  77. 78. What buyers want information on?
  78. 79. Social Media – building a profile
  79. 80. Free profile page – linked to your listings
  80. 81. Sell yourself!
  81. 82. Promote yourself everyday to over 15,000 people a day <ul><li>Just 3 agents per suburb </li></ul><ul><li>July / Aug / Sep </li></ul><ul><li>$15 / $75 / $150 per month </li></ul><ul><li>Online ordering and credit card transaction </li></ul>
  82. 83. Login / sign up / profile yourself
  83. 84. “ 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
  84. 85. Enjoyed the presentation? www.tinyurl.com/nzrealestate
  85. 86. Proudly supporting the real estate industry

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