Increase Your Profits...Global
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Increase Your Profits...Global

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Increase your profits with Global Networks outreach...

Increase your profits with Global Networks outreach...

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  • Housing Market Outlook Through Economic RecessionJanuary,2009Lawrence Yun, Ph.D. Chief EconomistNATIONAL ASSOCIATION OF REALTORS®

Increase Your Profits...Global Increase Your Profits...Global Presentation Transcript

  • • Today's real estate brokerage industry has grown from a local business to an international enterprise. • While your primary business may continue to be local, a growing number of transactions have an "international" component to them. • We will explore, together, how to increase your reach into this expanding market.
  • • Industry Background • Technology • The Internet impact • How I improve my Referral business? • How to navigate the networks?
  • • Mid-1970s Recession Little Change in Home Sales. • Early 1980s Recession Deep Cuts in Home Sales. • Early 1990s Recession Moderate Cuts in Home Sales. • Early 2000s Recession Rise in Home Sales.
  • • Prosperity in 1890s launched nationwide building boom. • Few standards for real estate transactions. • In 1908, honest brokers founded NAR.
  • • REALTORS® belong to three associations: • Local association or Board at community level. • State Association. • National Association.
  • •Ninety-seven percent of buyers ranked honesty and integrity as a “very important” factor when choosing a real estate professional to assist with a home purchase. •84 percent reported they were “very satisfied” with the honesty and integrity of their agent. • 97% of buyers ranked honesty and integrity as a “very important factor” when choosing a Real Estate Professional. • 78% of home buyers purchased their home through a real estate agent or broker. • 72% of recent buyers will definitely use their agent again.
  • 81 Associations in 59 Countries
  • Internet has opened the international marketplace to more than 1 and a 1/2 billion Internet users around the world.
  • Population stats and Internet usage Chart from http://www.internetworldstats.com/stats.htm
  • • We are all citizens of the Global village… • …here are the statistics…
  • • 84% of home buyers used the Internet to search for homes. • 84% of home buyers used a real estate professional during their home search. Source: NAR’s 2008 Buyers and Sellers report
  • • Create and maintain a content rich website • Blog about yourself, the business and your local area • Post videos on YouTube • Build a social network Source: Pat Zaby from patzaby.com
  • Three key ingredients: • know-how • reputation and • a network of contacts. That's it. That's the secret”. Your human capital (what you know) X times your social capital (who you know) X times your reputation (who trusts you) = Success Public relations firm Hill & Knowlton "Return on Reputation”
  • • Translation tools Google.com/language_tools FreeTranslation.com WorldLingo.com Immobel.com •Cultural Awareness Tools worldproperties.com ExecutivePlanet.com Realtor.org/international • Conversion tools XE.com ExchangeRate.com
  • • According to Bridget Mccrea , Florida Realtor, April 2009 • “ Get your name out…in popular marketing vehicles…” Here are some: • Aplaceinthesun.com: Magazine and property show • Escapeartist.com: Magazine for expatriates living oversees • Fusedworld.com: International Real Estate Directory • Ired.com: International Real estate Digest • Realtor.com : Mark your Listings “international” • Rightmove.com.uk: United Kingdom Property Listings Web site • SIMAexpo.com: Largest Second Home Show in Europe • OPP Russia: http://www.biztradeshows.com/russia/ • WorldProperties.com: an ICREA listing site for worldwide properties
  • Since 1992, more than 2,000 real estate agents from the US and around the world have earned their CIPS designation.
  • • Scotland: 16.6 acres including a • Spain: Costa del Sol Beach cricket pitch and tennis court Villas sold by Banks for 2/3 less 17th Century mansion down to (around € 541,000) £ 2.5m from £ 4m James Freeman from Knight Frank Les Calvert PropertyAbroad.com LSP Applied Analytics: Reports on 2008 Jumbo Loans “As the global financial crisis grows, World Venture Management: Buyers are finding bargains even at Asset Manager, based in California the top of the market” Michael Firewalker …gone shopping on behalf of investors Judith Matloff Financial Times, March 28, 2009
  • International Strategic Alliances Prudential Florida Realty
  • • Another puzzle? • Or a Jungle…
  • • Networking at meetings & conventions. • Online connections. • Personal and business referrals. • Tapping into CIPS and ICREA.
  • • AFIRE • Hotel Brokers International • Association of Foreign Investors • http://www.hbihotels.com/ in Real Estate • http://www.afire.org/ • The Institute of Real Estate Management • Building Owners and Managers http://www.irem.org/ Association International http://www.boma.org/Pages/d • Society of Industrial and Office efault.aspx REALTORS® • http://www.sior.com/about.asp • CCIM Institute • http://www.ccim.com/ • CREW Network Commercial Real Estate Women http://www.crewnetwork.org/
  • 35 National Associations and 3 Regional Organizations, signed the formal agreement to form ICREA in 2001
  • • An alliance of nearly 30 leading national real estate organizations in the world's major markets. • ICREA’s primary objective is to assist members of the respective organizations in efficiently and profitably facilitating transnational business.
  • • Brings together brokers and developers to serve customers. • Fees paid to brokers for successfully introducing developers to site.
  • • Protocol binds constituents to terms, rules & standards. • Entire process occurs online • In event of dispute, binding arbitration process is used.
  • • Facebook has 54.5 million monthly unique visitors 150 million people around the world, are using Facebook in 35 different languages In 170 countries • 76 million members in MySpace US The average MySpace user now spends 266 minutes (4.4 hours) on the site every month • Twitter has 500,000 unique monthly visitors According to Compete, the growth rate for Twitter was 752% for a total of 4.43 million unique visitors in December 2008
  • Social media sites…the growing trend! Linkedin: Face book facebook.com linkedin.com • Myspace: myspace.com • Twitter: twitter.com
  • A professional Facebook experience… …“ I’m hooked on Facebook…It’s Silly yet serious, Professional yet Social”… Debbie Kantor Re/Max Town Centre, Orlando, Florida
  • What should I do next? • “When you recognize that the world is changing”… First order of business: Chance your current mental model • Resourcers: Victor K Fung : Competing in a Flat world Yoram Wind: Transform the Business of your life and the Life of your business C. K. Prahalad : The Fortune at the bottom of the Pyramid
  • “Achievement is largely the product of steadily raising one’s levels of aspiration and expectation” Jack Nicklaus
  • “International relationships are ... preordained to be clumsy gestures based on imperfect knowledge.” Rebecca West (1892–1983), British author