Realtor Technology Risk Management

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,

YouTube Moment Think Differently 2

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

Hacker Ethics Hackers: Heroes of the Computer Revolution Steven Levy - 1984 Access to computers—and anything which might teach you something about the way the world works—should be unlimited and total. Always yield to the Hands-on Imperative! All information should be free. Mistrust authority—promote decentralization. Hackers should be judged by their hacking, not bogus criteria such as degrees, age, race or position. You can create art and beauty on a computer. Computers can change your life for the better.

“Failing to make a decision to change is SWANEPOEL REPORTS simply not an opBon – the market will make one for you.” (2008 Swanepoel Report) “GeneraBon X and Y are growing up with a poor percepBon 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 • 500+ million ac;ve users • Average users have 130 friends • 50% Users Update Daily • Over 700 Billion minutes spent on Facebook daily – Source: h>p://www.facebook.com/press/info.php?sta;s;cs

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

YouTube Moment SocialNomics 10

Consumers are online talking...

They are talking about... 13

anything.

everything.

yes, even your company.

MarkeBng is a ConversaBon

• Click to edit Master text styles 19

YouTube Moment United, United 20

WWW.GOOGLE.COM/ALERTS

Engage Educate Edify 15:1 Engage to Pitch Ra;o 23

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 Prac;ce 1-‐2: Applies Code ar;cles to the internet ➡ Standard of Prac;ce 1-‐9: Conﬁden;ality ➡ Ar;cle 10: Fair Housing ➡ Ar;cle 12: Honesty in Marke;ng (Similar to VAC) ➡ Ar;cle 13: Prohibi;on from giving Legal Advice ➡ Ar;cle 15: Reckless Statements about other REALTORS®

GENERAL LEGAL CONSIDERATIONS: BLOGS ‣ Defama;on ‣ Unlicensed Prac;ce of Law ‣ Breach of Conﬁden;ality of Clients ‣ Copyright Viola;ons ‣ Untrue Statements ‣ Trademark Considera;ons ‣ Necessity for Required Disclosures

YouTube Moment RSS in Plain English 31

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 reporBng, teaching, or scholarly research); Remove infringing content immediately; Have a well-‐cra^ed Terms of Use Instruct agents and those posBng to use cauBon when posBng; Realize that blogs can be viewed as an adverBsement 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 acBve role in the publishing the contents.

Add Agents to Personal RSS Feeder Have wricen policy Outline what they are permiced 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 markeBng venue that they use.

POPULAR HIGH RISK PRACTICES False Statements about CompeBtors and /or their pracBces AnB-‐Trust ViolaBons Picture ManipulaBon or “Enhancements” ArBcle 2  Vendecas

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

Be Safe Out There! Part II 39

Electronic Signatures UETA = Uniform Electronic Signature Act (1999)

HiJacked Listings! 43

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) 44

Now... To Build a Community Part III 45

If you can‘t be found online... You don’t exist 48

Google.com/addurl 49

I say Innovation - Does my broker? 50

Blogging: Recruitment and Reten;ons Mul;-‐Author Approach Wri;ng for Agents and Consumers Forum based tool for agents RSS is your Friend Blogging Pace Budgets 54

5 Must-‐Use Tools for Brokers Company / Association Blogs 55

FACEBOOK FANPAGES

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

Realtor Technology Risk Management

by Matthew Rathbun on Oct 06, 2010

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Realtor Technology Risk Management — Presentation Transcript