University of Auckland Property Management - realestate.co.nz May 09

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Presentation to property management students on 7 May 2009 at Auckland University Business School. Presentation of realestate.co.nz and zoodle as well as insight into the NZ real estate market

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University of Auckland Property Management - realestate.co.nz May 09

  1. 1. The changing face of real estate
  2. 2. Realestate.co.nz <ul><li>Industry owned website </li></ul><ul><li>Most comprehensive website for real estate in NZ </li></ul><ul><li>Significant competitor – Fairfax owned Trade Me </li></ul><ul><li>“ Content is king” model holds true! </li></ul>
  3. 3. Consistent growth – outperforming the market
  4. 4. Real Estate Industry <ul><li>The marketplace </li></ul><ul><li>Online real estate </li></ul><ul><li>Changing face of real estate </li></ul><ul><li>Google and its impact on real estate </li></ul>
  5. 5. <ul><li>$30 billion industry </li></ul><ul><li>$1 billion in commissions </li></ul><ul><li>11,500 salespeople </li></ul>Real Estate Industry
  6. 6. The great housing crash !!??
  7. 7. Beware of media hype!
  8. 8. Continued price declines
  9. 9. 2 very different decades
  10. 10. Market value trebled in 6 years $41 billion $13 billion $22 billion
  11. 11. The highs and the lows – property sales 122,000 54,000 63,000
  12. 12. Putting sales volumes into perspective
  13. 13. Strong start to 2009
  14. 14. Supply and demand in the local market
  15. 15. Understanding and interpreting information
  16. 16. Latest research from USA – the web #1 for search National Association of Realtors Home Buyer Survey 2008
  17. 17. More and more people searching online for property Over 1,000,000 visitor sessions per week through February & March up 22% Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites
  18. 18. Up to the minute activity in the market - emails
  19. 19. The changing face of real estate?
  20. 20. Traditional model has changed
  21. 21. Buyers in control
  22. 22. Relationship with buyers has changed 5 – 10 years ago Today Research / Research / Research
  23. 23. “ 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
  24. 24. “ Traditional agents will not be replaced by technology... ..they will be replaced by agents with technology” What’s really happening ?
  25. 25. 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>
  26. 26. Where are they looking?
  27. 27. What are they looking at??
  28. 28. What are they looking for?
  29. 29. Property information at your finger tips
  30. 30. Providing information – 24hrs a day
  31. 31. 1,528,000 properties in NZ
  32. 32. Every property has a web page
  33. 33. Context – where in relation to schools
  34. 34. Context of aerial images
  35. 35. Community information – where to live
  36. 36. Property and lifestyle information
  37. 37. What’s on the market?
  38. 38. Who lives in that suburb?
  39. 39. +
  40. 40. Real Estate Industry <ul><li>The marketplace </li></ul><ul><li>Online real estate </li></ul><ul><li>Changing face of real estate </li></ul><ul><li>Google and its impact on real estate </li></ul>
  41. 41. What drives real estate? immigration Employment House prices Affordability Mortgage rates deposits Consumer confidence Building consents GDP
  42. 42. Getting inside the minds of buyers?? 6 weeks of researching 2½ hours per week on specialist real estate websites 5 5 %
  43. 43. Real transformation of real estate
  44. 44. Reputation Management
  45. 46. Selling opportunity online <ul><li>Competitive arena </li></ul><ul><li>Grab the attention of homeowners </li></ul>
  46. 47. Blogs – hosted on realestate.co.nz
  47. 48. Online engagement in real estate
  48. 49. Stay informed / stay connected alistairnz

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