Real estate salespersons presentation June 09

The Changing face of real estate

The marketplace – current state of the market

Trends in online real estate

The changing face of real estate

Getting the basics right - listings

Your profile – your future!

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

Strong start to 2009

Significant fall in new listings...

...bringing inventory levels back

Understanding and interpreting information

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

Realestate.co.nz – your industry website Supporting and Protecting this industry – online Monthly subscription April 2006 - $200 April 2007 - $200 April 2008 - $200 April 2009 - $200 April 2010 - $200 ... ...

Consistent growth – outperforming the market

Driving international viewers

In May - 59% of visitors to realestate.co.nz DID NOT VISIT trade me property 213,487 Unique visitors visited Realestate.co.nz and NOT Trade me property 150,568 UB’s visited BOTH sites Buyers know where to look

Realestate.co.nz – your site

TradeMe – auction site for rubbish!

The changing face of real estate?

Traditional model has changed

Buyers in control

Relationship with buyers has changed 5 – 10 years ago Research / Research / Research Today

“ 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

“ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” What’s really happening ?

Know your clients

Where are they looking?

What are they looking at?

What are they looking for?

Where are they looking?

What are they looking at??

What are they looking for?

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?

Getting inside the minds of buyers?? 6 weeks of researching 2½ hours per week on specialist real estate websites 5 5 %

Understanding interest / behaviour

Email alerts – first impressions count!

Address Accurate pricing Large images / high quality images Maps Get the basics right!

Richer and richer information

Information online – StreetView from Google

Featured listings

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

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

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!

Treat every email as a prospective buyer

Don’t be pushy – don’t demand a contact number

Answer their question

Treat the enquirer as a very early enquirer “ I appreciate you may be at an early stage of looking for a property ”

Emails – etiquette

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.