Risk-Adverse Real Estate Brokers

Leading in a 2.0 World Matthew Rathbun, Licensed Broker ABR, ABRM, ASR, AHWD, CSP, CNE, e-PRO, QSC, GREEN, GRI, SRES Eco-Broker Director of Professional Development This work is in the Public Domain. To view a copy of the public domain cer;ﬁca;on, visit h>p:// crea;vecommons.org/licenses/publicdomain/ or send a le>er to Crea;ve Commons,

THE WHY OF TECHNOLOGY 1% 38% 1% 2% 5% Internet (38%) 6% Realtor (33%) Yard Sign (14%) Home Builder (6%) Friend/Relative (5%) 14% Knew Seller (2%) Flyer/House Book (1%) 33% Print Media (.87%) Source: 2008 NAR Profile of Buyer and Sellers

WHAT DID THEY FIND IMPORTANT? 100 75 50 25 0 Agent Info (3%) Company Info (5%) Area Information (21%) IDX/MLS (96%)

“Failing to make a decision to change is SWANEPOEL REPORTS simply not an opFon – the market will make one for you.” (2008 Swanepoel Report) “GeneraFon X and Y are growing up with a poor percepFon of the real estate industry.” “They believe they can and should ﬁx it.” (2008 Swanepoel Report)

THE WHAT AND WHY OF REAL ESTATE 2.0

Facebook Demographics • 170% Growth in 35-‐45 year olds in past year • Average age of a user is 32 • Majority are College Graduates • Largest increase of users are those over 55 in the past year • 320+ million acFve users • Average users have 120 friends • 18 million update daily • Over 3 Billion minutes spent on Facebook daily – Source: h<p://www.facebook.com/press/info.php?staDsDcs

It’s Like an Episode of Seinﬁeld….

They are talking about... 9

anything.

everything.

yes, even real estate.

What is Social Media? Social media is with other people on the people talking internet!

MarkeFng is a ConversaFon

THE WHAT AND WHY OF REAL ESTATE 2.0 84% of Consumers used an REALTOR® 84% of Consumers used Internet Frequently Used Resources in Purchase Internet 66% REALTOR® 64% Found following resources useful Agent 70% Internet 78% (Sources for all: NAR Proﬁle of Buyers and Sellers for 2007)

Engage Educate Edify 15:1 Engage to Pitch RaDo 17

THE WHAT AND WHY OF REAL ESTATE 2.0 • “87% of Brokers feel that servicing smarter and more informed consumers as their largest concern.” • Swanepoel

VIRGINIA -‐ DEFINING TECHNOLOGY Virginia Code 18VAC135-20-190 “Advertising” means all forms of representation, promotion and solicitation disseminated in any manner and by any means of communication to consumers for any purpose related to licensed real estate activity. Disclosures Required: 1. Firm’s name, city and state of office 2. Licensee’s Name 3. License Status 4. Jurisdiction(s) Licensed

VIRGINIA -‐ DEFINING TECHNOLOGY Virginia Code 18VAC135-20-190 All Advertising must be under the direct supervision of the principal broker or supervising broker... The firm’s licensed name must be clearly and legibly displayed on all advertising. Online Advertising (Section C of the Code) 1. All Online Adverting applies to this Code 2. E-mail message are included in regs 3. Instant Message are included 4. Chat and Internet based Dialogue 5. The “web” 6. Voice Over Net 7. Banner Ads

VIRGINIA -‐ DEFINING TECHNOLOGY Virginia Code 18VAC135-20-190 All On-line Listings must be kept current and consistent as follows: Ads must be consistent with Property Descriptions and ACTUAL Status Reasonable effort must be made in a written, timely manner for third parties to update listing information. All listing information shall indicate in a readily visible manner the date that the listing information shown was last updated.

VIRGINIA -‐ DEFINING TECHNOLOGY Virginia Code 18VAC135-20-190 ✴Section D – Prohibited Activities ✴ Implying that the property listed is for sale by the owner or unlicensed person ✴ Failing to include a notice in all advertising that the owner is a real estate licensee has interest in a particular property ( as in financial or owner interest ) ✴ Fail to include firm’s licensed name on any sign displayed outside any place of business ✴ Failure to get written consent of the seller prior to advertising any specific identifiable property ✴ Property not listed by the party making the advertisement

CODE OF ETHICS APPLICATION ➡ Standard of PracDce 1-‐2: Applies Code arDcles to the internet ➡ Standard of PracDce 1-‐9: ConﬁdenDality ➡ ArDcle 10: Fair Housing ➡ ArDcle 12: Honesty in MarkeDng (Similar to VAC) ➡ ArDcle 13: ProhibiDon from giving Legal Advice ➡ ArDcle 15: Reckless Statements about other REALTORS®

GENERAL LEGAL CONSIDERATIONS: BLOGS ‣ DefamaDon ‣ Unlicensed PracDce of Law ‣ Breach of ConﬁdenDality of Clients ‣ Copyright ViolaDons ‣ Untrue Statements ‣ Trademark ConsideraDons ‣ Necessity for Required Disclosures

WWW.GOOGLE.COM/ALERTS

FACEBOOK GROUPS

Further steps you can take to reduce your liability: Post only material you own, you have permission to use, or that is with the scope of fair use (generally includes review, news reporFng, teaching, or scholarly research); Remove infringing content immediately; Have a well-‐cra`ed Terms of Use Instruct agents and those posFng to use cauFon when posFng; Realize that blogs can be viewed as an adverFsement and follow all applicable rules; and Don’t select and edit messages – it could subject you to greater liability because you are taking a more acFve role in the publishing the contents.

Add Agents to Personal RSS Feeder Have wriden policy Outline what they are permided to write about Outline what types of sources they can use for clients Outline number of Blogs they can have that are RE related Require training to post Have requirement for Licensee to advise you of every new markeFng venue that they use.

POPULAR HIGH RISK PRACTICES False Statements about CompeGtors and /or their pracGces AnG-‐Trust ViolaGons Picture ManipulaGon or “Enhancements” ArFcle 2  Vendedas

CREATE POLICIES ‣ Appoint a Tech Savvy Broker, as the New Media Manager. ‣ Have wriWen policies to govern who can write blogs etc… ‣ What they are permiWed to write: ‣ Only factual informaFon ‣ Must have disclosures ‣ Must report any complaints made on their posts ‣ The may not edit comments except for….

Be Safe Out There! Part II 31

Electronic Signatures UETA = Uniform Electronic Signature Act (1999)

HiJacked Listings! 35

Agent Identity Watch Centralized Showing and Lockbox Agent Impersonations Online Access of Client Databases Shared Lockbox Access Shared MLS Entry Computer Threats (By and Against Agents) 36

www.TheAgentTrainer.com matthew@realtor.com Facebook.com/mattrathbun Twitter.com/mattrathbun

Now... To Build a Community Part III 38

If you can‘t be found online... You don’t exist 41

Google.com/addurl 42

I say Innovation - Does my broker? 46

Blogging: Recruitment and RetenDons MulD-‐Author Approach WriDng for Agents and Consumers Forum based tool for agents RSS is your Friend Wordpress.org versus Wordpress.com Pace Budgets 49

5 Must-‐Use Tools for Brokers Company / Association Blogs 50

www.TheAgentTrainer.com matthew@realtor.com Facebook.com/mattrathbun Twitter.com/mattrathbun

Risk-Adverse Real Estate Brokers

by Matthew Rathbun on Mar 07, 2010

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Risk-Adverse Real Estate Brokers — Presentation Transcript

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