Real estate salespersons presentation August 2009

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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 profile

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  • Hi Alistair,

    Was at your presenttion today. Was very informative. Thanks

    David Lopdell,
    Harcourts Beach Haven
       Reply 
    Are you sure you want to  Yes  No
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Real estate salespersons presentation August 2009

  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 110,000 listings – 168,000 sessions per week
  22. 22. Understanding interest / behaviour
  23. 23. “ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” Real estate professionals need to change!
  24. 24. <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
  25. 25. The web is critical in real estate marketing - Over 1,000,000 sessions of searching per week.. 34% up on same period last year
  26. 26. ..early signs of seasonal pick up – the web provides a critical lead indicator
  27. 27. To match increase searching – more listings coming onto the market
  28. 28. <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
  29. 29. 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>
  30. 30. 3 years of growth – 27% per annum vs. market 17%
  31. 31. The 2 top websites dominate the market... Total number of unique Web visitors - July 1,415,803 +7% Total number of property sales Year to date 2009 34,169 41 visitor for every buyer!
  32. 32. 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 property 157,590 UB’s visited BOTH sites ..however realestate.co.nz attracts a unique audience
  33. 33. Realestate.co.nz is the market leader for international visitors searching for NZ real estate...
  34. 34. Up to the minute activity in the market - emails
  35. 35. Realestate.co.nz – the most comprehensive Trade Me residential property listings - 49,373 includes an estimated 6,000 private listings
  36. 36. 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 is attainable! </li></ul>
  37. 37. Property information at your finger tips
  38. 38. Providing information – 24hrs a day
  39. 39. 1,528,000 properties in NZ
  40. 40. Every property has a web page
  41. 41. Context – where in relation to schools
  42. 42. Context of aerial images
  43. 43. Community information – where to live
  44. 44. Property and lifestyle information
  45. 45. What’s on the market?
  46. 46. Who lives in that suburb?
  47. 47. <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
  48. 48. What are they looking for?
  49. 49. Google Maps – real estate
  50. 50. Address Accurate pricing Large images / high quality images Maps Get the basics right!
  51. 51. What are they looking at??
  52. 52. Email alerts – first impressions count!
  53. 53. No substitute to comprehensive information
  54. 54. Photos are so important!
  55. 55. The web provides so much information... enough to replace an agent??
  56. 56. Richer and richer information
  57. 57. New functionality <ul><li>Search filter </li></ul><ul><li>Email schedule </li></ul>
  58. 58. How can you stand out from the masses?
  59. 59. Featured listings
  60. 60. Featured listings – cost effective advertising Negotiation Auction Listing # 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
  61. 61. 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
  62. 62. Buyers - call to action
  63. 63. <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
  64. 64. 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>
  65. 65. How do you rate – responding to emails? Response timing is improving – but 12% never respond!
  66. 66. <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
  67. 67. <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
  68. 68. 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>
  69. 69. 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>
  70. 70. <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
  71. 72. <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>
  72. 73. ? How to be found on Google!
  73. 74. The power of links
  74. 75. To be found you need to be online
  75. 76. Part 1: Find yourself on Google
  76. 77. Part 2 : Be found on Google
  77. 78. 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>
  78. 79. Blogs – hosted on realestate.co.nz
  79. 80. What buyers want information on?
  80. 81. Social Media – building a profile
  81. 82. Free profile page – linked to your listings
  82. 83. Sell yourself!
  83. 84. 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>
  84. 85. Login / sign up / profile yourself
  85. 86. “ 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
  86. 87. Enjoyed the presentation? www.tinyurl.com/nzrealestate
  87. 88. Proudly supporting the real estate industry

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