The Changing face of real estate
<ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The...
2 very different decades
Market value trebled in 6 years $41 billion $22 billion $13 billion
The highs and the lows – property sales 122,000 53,500 63,000
Strong start to 2009
Significant fall in new listings...
...bringing inventory levels back
Understanding and interpreting information
<ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The...
 
Latest research from USA – the web #1 for search National Association of Realtors Home Buyer Survey 2008
More and more people searching online for property –  20 million year to date Over 1,000,000 visitor sessions per week thr...
Strong enquiry levels
Realestate.co.nz – your industry website Supporting and Protecting this industry – online Monthly subscription April 2006 ...
Consistent growth – outperforming the market
Driving international viewers
In May - 59% of visitors to  realestate.co.nz DID NOT VISIT  trade me property 213,487  Unique visitors visited  Realestat...
Realestate.co.nz – your site
TradeMe – auction site for rubbish!
<ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The...
The changing face of real estate?
Traditional model has changed
Buyers in control
Relationship with buyers has changed  5 – 10 years ago Research / Research / Research Today
“ Homebuyers & Agents have information overload.  Agents must create legitimate value-add services & become the trusted go...
“ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” What’s reall...
Know your clients <ul><li>Where are they looking? </li></ul><ul><li>What are they looking at? </li></ul><ul><li>What are t...
Where are they looking?
What are they looking at??
What are they looking for?
Property information at your finger tips
Providing information – 24hrs a day
1,528,000 properties in NZ
Every property has a web page
Context – where in relation to schools
Context of aerial images
Community information – where to live
Property and lifestyle information
What’s on the market?
Who lives in that suburb?
<ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The...
Getting inside the minds of buyers??  6 weeks of researching  2½ hours per week on specialist real estate websites 5 5 %
Understanding interest / behaviour
Email alerts – first impressions count!
Address Accurate pricing Large images / high quality images Maps Get the basics right!
Richer and richer information
Information online – StreetView from Google
Featured listings
Featured listings – cost effective advertising Negotiation Auction Listing # UPH10354  PO081104  Price range: $700k - $1m ...
14 days with a featured listing delivers an audience of  over 10 times  more viewings than a regular listing $250  inc GST...
Handling enquiries <ul><li>Enquiries from buyers – when they have a question </li></ul><ul><li>Only when they have exhaust...
How do you rate – responding to emails? Response timing is improving – but 12% never respond!
<ul><li>Treat every email as a prospective buyer </li></ul><ul><li>Don’t be pushy – don’t demand a contact number </li></u...
The advice works!... <ul><li>thanks for your email.  </li></ul><ul><li>yes you are right. we have just started looking for...
<ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The...
1998 : 26,000,000 web pages 2000: 1,000,000,000  2008: 1,000,000,000,000
The power of links
Understanding Google
 
Blogs – hosted on realestate.co.nz
Become the sector expert
Become the local expert
Social Media – building a profile
Featured agent
Promote yourself everyday to over 15,000 people a day <ul><li>Just 3 agents per suburb </li></ul><ul><li>April / May / Jun...
The changing face of real estate
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Real estate salespersons presentation June 09

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Presentation by realestate.co.nz to the sales team of Harcourts Advantage, Tauranga - June 10 2009

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Real estate salespersons presentation June 09

  1. 1. The Changing face of real estate
  2. 2. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The changing face of real estate </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The changing face of real estate
  3. 3. 2 very different decades
  4. 4. Market value trebled in 6 years $41 billion $22 billion $13 billion
  5. 5. The highs and the lows – property sales 122,000 53,500 63,000
  6. 6. Strong start to 2009
  7. 7. Significant fall in new listings...
  8. 8. ...bringing inventory levels back
  9. 9. Understanding and interpreting information
  10. 10. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The changing face of real estate </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The changing face of real estate
  11. 12. Latest research from USA – the web #1 for search National Association of Realtors Home Buyer Survey 2008
  12. 13. More and more people searching online for property – 20 million year to date Over 1,000,000 visitor sessions per week through Feb / Mar / May up 15% Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites
  13. 14. Strong enquiry levels
  14. 15. Realestate.co.nz – your industry website Supporting and Protecting this industry – online Monthly subscription April 2006 - $200 April 2007 - $200 April 2008 - $200 April 2009 - $200 April 2010 - $200 ... ...
  15. 16. Consistent growth – outperforming the market
  16. 17. Driving international viewers
  17. 18. In May - 59% of visitors to realestate.co.nz DID NOT VISIT trade me property 213,487 Unique visitors visited Realestate.co.nz and NOT Trade me property 150,568 UB’s visited BOTH sites Buyers know where to look
  18. 19. Realestate.co.nz – your site
  19. 20. TradeMe – auction site for rubbish!
  20. 21. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The changing face of real estate </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The changing face of real estate
  21. 22. The changing face of real estate?
  22. 23. Traditional model has changed
  23. 24. Buyers in control
  24. 25. Relationship with buyers has changed 5 – 10 years ago Research / Research / Research Today
  25. 26. “ Homebuyers & Agents have information overload. Agents must create legitimate value-add services & become the trusted go-to person” Stefan Swanepoel The changing face of real estate
  26. 27. “ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” What’s really happening ?
  27. 28. Know your clients <ul><li>Where are they looking? </li></ul><ul><li>What are they looking at? </li></ul><ul><li>What are they looking for? </li></ul>
  28. 29. Where are they looking?
  29. 30. What are they looking at??
  30. 31. What are they looking for?
  31. 32. Property information at your finger tips
  32. 33. Providing information – 24hrs a day
  33. 34. 1,528,000 properties in NZ
  34. 35. Every property has a web page
  35. 36. Context – where in relation to schools
  36. 37. Context of aerial images
  37. 38. Community information – where to live
  38. 39. Property and lifestyle information
  39. 40. What’s on the market?
  40. 41. Who lives in that suburb?
  41. 42. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The changing face of real estate </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The changing face of real estate
  42. 43. Getting inside the minds of buyers?? 6 weeks of researching 2½ hours per week on specialist real estate websites 5 5 %
  43. 44. Understanding interest / behaviour
  44. 45. Email alerts – first impressions count!
  45. 46. Address Accurate pricing Large images / high quality images Maps Get the basics right!
  46. 47. Richer and richer information
  47. 48. Information online – StreetView from Google
  48. 49. Featured listings
  49. 50. Featured listings – cost effective advertising Negotiation Auction Listing # UPH10354 PO081104 Price range: $700k - $1m $750k - $850k Listed: 21 Nov 21 Nov 4,114 page views in January with a featured listing 232 page views in January
  50. 51. 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
  51. 52. Handling enquiries <ul><li>Enquiries from buyers – when they have a question </li></ul><ul><li>Only when they have exhausted their searching </li></ul><ul><li>Responsiveness is critical </li></ul><ul><li>How do you rate your performance? </li></ul>
  52. 53. How do you rate – responding to emails? Response timing is improving – but 12% never respond!
  53. 54. <ul><li>Treat every email as a prospective buyer </li></ul><ul><li>Don’t be pushy – don’t demand a contact number </li></ul><ul><li>Answer their question </li></ul><ul><li>Treat the enquirer as a very early enquirer “ I appreciate you may be at an early stage of looking for a property ” </li></ul>Emails – etiquette
  54. 55. The advice works!... <ul><li>thanks for your email. </li></ul><ul><li>yes you are right. we have just started looking for a house in Parnell. Was looking more into Remuera, Greenlane, and Epsom. Didn't look into Parnell as I heard about how land in Parnell is leasehold. Not too sure where the line start and end. </li></ul><ul><li>Anyway, target area is for a Grammer zoned area. As we got a little girl that is close to 3 years old. </li></ul><ul><li>we prefer not to have any body corp. As we are not too sure if we want the hassle. I know some people prefers it. </li></ul><ul><li>Anyway, thanks </li></ul>
  55. 56. <ul><li>The marketplace – current state of the market </li></ul><ul><li>Trends in online real estate </li></ul><ul><li>The changing face of real estate </li></ul><ul><li>Getting the basics right - listings </li></ul><ul><li>Your profile – your future! </li></ul>The changing face of real estate
  56. 57. 1998 : 26,000,000 web pages 2000: 1,000,000,000 2008: 1,000,000,000,000
  57. 58. The power of links
  58. 59. Understanding Google
  59. 61. Blogs – hosted on realestate.co.nz
  60. 62. Become the sector expert
  61. 63. Become the local expert
  62. 64. Social Media – building a profile
  63. 65. Featured agent
  64. 66. Promote yourself everyday to over 15,000 people a day <ul><li>Just 3 agents per suburb </li></ul><ul><li>April / May / June </li></ul><ul><li>$25 / $75 / $150 per month </li></ul><ul><li>Online ordering and credit card transaction </li></ul>
  65. 67. The changing face of real estate

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