Matt Rathbun: Basic Realtor Technology 101

Source: 2008 NAR Profile of Buyer and Sellers

What Are They Looking For?

45% of Leads will turn into a sale for someone
Only 10% will become a sale in 90 Days
22-25% will convert to a sale in 180 days
The average on-line buyer needs to be incubated for six months to a year.
The older the Lead the less competition.

What you need vs. What you want
Cost Plan / Budget
Consumer Reports
On-Line Community Support
Professional Assistance
What is Valuable vs. Convenient
Professional Opinion vs. Frustrated Users

______________________ _____

It’s a tool to provide better service
It’s a Lead Generator
Advertisement Necessity
We only use 10% of our available software on our PCs

Don’t assume they prefer e-mail
Get a face to face meeting as soon as possible
Meet with Client when getting Documents Signed
Remember technology is a tool and not a replacement for YOU!
Be Patient
Use the PHONE

NAR Statistics (2007) On-Line Consumers
34% are between 25-34 years of age
65% are Married
17% are Single Females
8% are Single Males
Median income is $70,700 per year

Buyers First Learned of homes by:
Realtor 40% of the Time
Internet 20% of the Time

Easily Dazzled
Information Hungry
Usually between 23 and 44 years old
Want Constant Interaction
Typically not very loyal
Easy to get information to
Want Tech Savvy Agent

Get the Client’s Information
Make Disclosures
Send just enough information…
Call and Introduce yourself and Services
Arrange Meeting
Continue Communicating via Client’s Preference

Must have legitimate return e-mail address
Clear and Conspicuous notice of the recipients opportunity to “opt-out”
Clear and Conspicuous notice of Solicitation

E-mail is to be used for:
Responses to Inquires
Contact Clients and firms involved in a transaction
Remain in contact with former client
Promote Property Listings

Agents name and licensed status must be disclosed on all solicitations or business related pages and e-mails.
Brokerage Name, address and phone number must appear on all webpages in the first viewable section.
Both must disclose all the locations in which they hold a license.

All internet advertisement is under the direct supervision of the Broker.
Instant messages are exempt so long as previous disclosures have been made.
Chat Rooms – Disclosure must be made in ever instant that business services, recommendations or solicitations is to be made.

Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.
Cannot show listings “For Sale” if they are under contract or sold.
NAR Rule – “REALTOR” cannot be used with any adjectives

Google

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
175 million active users
Average users have 120 friends
18 million update daily
Over 3 Billion minutes spent on Facebook daily
Source: http://www.facebook.com/press/info.php?statistics

Market Information
Limited Personal Information
No Degrading Comments
Avoid Extended Menus
Emotional Triggers

Using Bad Photos as a Marketing Tool?

www.WikiMLS.com

www.LowesRealtorBenefits.com

www.RealBird.com

www.postlets.com

Skype Twitter

CarolineVABlog.com

www.jott.com

www.Picnik.com

www.Realtor.org/Library www.Realtor.org/Research

Matt Rathbun: Basic Realtor Technology 101

by Matthew Rathbun on Mar 25, 2009

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