Queenstown - Nov 18 2009

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Presentation to real estate agents in Queenstown on the impact the web is having on real estate and the many opportunities it opens up. Providing insight and services to the industry from the industry owned website of realestate.co.nz

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Queenstown - Nov 18 2009

  1. 1. How the internet is transforming real estate Queenstown – November 2009
  2. 2. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  3. 3. Well past the bottom into a boom??
  4. 4. Property Prices – Comparison to UK
  5. 5. Property Prices - rebounding
  6. 6. Sales volumes still subdued – not a boom
  7. 7. Information is key – but property is not just an investment Access to accurate, timely and comprehensive data is critical
  8. 8. Sep Oct Nov Dec Jan Listed 27 Sep Protracted release of property data Conditional offer 21 Oct Unconditional offer 16 Nov Settlement 13 Dec
  9. 9. New monthly report
  10. 10. Otago Lakes new listings - steady
  11. 11. Supply – true inventory receeding from peak
  12. 12. Property Prices – growth in price expectation
  13. 13. Demand – web traffic as a surrogate of consumer confidence
  14. 14. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  15. 15. Why you need to understand the web? Today more than 1.2 billion people are online viewing over 1,000,000,000,000 web pages Why?
  16. 16. A transformation in 10 years
  17. 17. Edging ever closer to 100% online search National Association of Realtors Home Buyer Survey 2008
  18. 18. The web is the first and only choice Choice of media for real estate search in the past week – NZ 2009  9%  12%  9%
  19. 19. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  20. 20. “ Edutainment” Breadth Understanding interest / behaviour Browse full set of listings in target areas Browse full set of listings in target areas Depth “ Serious buyers” Narrow down to view target listings in area Quick-look filter Deeper filter & inspiration Price check & risk reduction Depth
  21. 21. The online search experience is evolving Searching for property
  22. 22. Clearer role for websites Searching for property buy Searching for someone to help me sell my property
  23. 23. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  24. 24. 3 years of growth – 27% per annum vs. market 17%
  25. 25. Now delivering over 25,000 email enquiries per month
  26. 26. Realestate.co.nz is the market leader for international visitors searching for NZ real estate... + 43% more traffic than trade me property International visitor traffic to NZ real estate listings – Oct 2009 124,521 87,278 20,311
  27. 27. Realestate.co.nz – the most comprehensive Trade Me residential property listings - 56,019 includes an estimated 6,000 private listings
  28. 28. 25,016 6,000 / week 3,636 4,500 / week 7,810 3,500 / week 43,107 100,000 / week 10,503 15,000 / week 16,412 8,000 / week 7,162 30,000 / week Not one site – many audiences 112,000 listings – 168,000 sessions per week
  29. 29. What we are doing to help you
  30. 30. New – market leading website
  31. 31. Rich / easy browsing & searching
  32. 32. Large images - easy to use
  33. 33. Specialised site for commercial property
  34. 34. Specialised site for business brokers
  35. 35. Specialised site for farms
  36. 36. Making it easy for offices
  37. 37. Property information at your finger tips
  38. 38. Providing information – 24hrs a day
  39. 39. Every property has a web page – 1,528,453 properties
  40. 40. Property Information
  41. 41. Context of aerial images
  42. 42. Community information – where to live
  43. 43. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  44. 44. What are they looking for?
  45. 45. Get the basics right – help buyers! <ul><li>No limit on photos </li></ul><ul><li>Avoid abbreviations </li></ul><ul><li>No limit on words </li></ul><ul><li>Sell the benefits </li></ul><ul><li>Create emotional connections </li></ul>
  46. 46. What not to do!!
  47. 47. What not to do!!
  48. 48. Email alerts – first impressions count!
  49. 49. No substitute to comprehensive information
  50. 50. Photos are so important!
  51. 51. The web provides so much information... enough to replace an agent??
  52. 52. Richer and richer information
  53. 53. New functionality <ul><li>Search filter </li></ul><ul><li>Email schedule </li></ul>
  54. 54. How can you stand out from the masses?
  55. 55. Featured listings
  56. 56. Featured listings
  57. 57. 14 days with a featured listing delivers an audience of over 10 times more viewings than a regular listing $250 inc GST Featured listing for just Vendor paid marketing – that delivers Call us 0800 732 536
  58. 58. Some examples 3 bedroom Onerahi $500k
  59. 59. Some examples
  60. 60. Buyers - call to action
  61. 61. <ul><li>Telephone </li></ul><ul><li>Website </li></ul><ul><li>Email </li></ul><ul><li>Open home </li></ul><ul><li>Office visit </li></ul>Enquiry leads come in many forms
  62. 62. How do you rate – responding to emails? Response timing is improving – but 12% never respond!
  63. 63. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>Understanding buyer behaviour </li></ul><ul><li>Realestate.co.nz </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The internet is transforming real estate
  64. 64. How to use the web to build you profile and network? How?
  65. 66. <ul><li>1998 : 26,000,000 web pages </li></ul><ul><li>2000: 1,000,000,000 web pages </li></ul><ul><li>2008: 1,000,000,000,000 web pages </li></ul><ul><li>100,000,000,000 clicks per day </li></ul>
  66. 67. ? How to be found on Google!
  67. 68. The power of links
  68. 69. Online reputation is key
  69. 70. <ul><li>Prediction: </li></ul><ul><li>90% of your sales will come from word of mouth or digital promotion by 2011. </li></ul><ul><li>How do you change what you're doing today to be ready for that? </li></ul>Online reputation is your future
  70. 71. If you are not found on Google ......
  71. 72. Part 1: Find yourself on Google
  72. 73. Login / sign up / profile yourself
  73. 74. Build your profile – free of charge
  74. 75. Part 2 : Create a place on the web
  75. 76. Part 3 : Drive traffic to that place
  76. 77. Part 3 : Drive traffic to that place www.twitter.com
  77. 78. Part 3 : Drive traffic to that place www.youtube.com
  78. 79. Part 3 : Drive traffic to that place www.linkedin.com
  79. 80. Part 3 : Drive traffic to that place www.facebook.com
  80. 81. Part 3 : Drive traffic to that place
  81. 82. Links build visibility..
  82. 83. Be found when people are looking for you
  83. 84. Blogs – hosted on realestate.co.nz
  84. 85. Its time to embrace social media / marketing
  85. 86. Build networks / referrals / credibility <ul><li>Relevant </li></ul><ul><li>Authentic </li></ul><ul><li>Transparent </li></ul><ul><li>Committed </li></ul>
  86. 87. Sell yourself!
  87. 88. Promote yourself everyday to over 15,000 people a day <ul><li>Just 3 agents per suburb </li></ul><ul><li>Oct / Nov </li></ul><ul><li>$15 / $75 / $150 per month </li></ul><ul><li>Online ordering and credit card transaction </li></ul>
  88. 89. “ Homebuyers & Agents have information overload. Agents must create legitimate value-add services & become the trusted go-to person” Stefan Swanepoel Embrace the change and be recognised
  89. 90. Enjoyed the presentation? www.tinyurl.com/nzrealestate
  90. 91. Proudly supporting the real estate industry

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