Realtor® Technology 101 Matthew Rathbun, Broker Matthew Rathbun Consulting © 2007 ABR, ABRM, ASR, CSP, e-PRO, GRI, GREEN, QSC, RECS, SRS, SRES

Source: 2008 NAR Profile of Buyer and Sellers

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.

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

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

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

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

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

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

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

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

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

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.

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.

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

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

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

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