Reducing Riskin20 Three Hour

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Matthew Rathbun's class on Reducing Risk while marketing online.

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Reducing Riskin20 Three Hour

  1. 1. 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 certification, visit http://creativecommons.org/licenses/publicdomain/ or send a letter to Creative Commons,
  2. 2. What is Social Media? Social media with other is people on people the talking internet!
  3. 3. YouTube Moment Shift Happens 2008 xt 4
  4. 4. 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
  5. 5. WHAT DID THEY FIND IMPORTANT? 100 75 50 25 0 Agent Info (3%) Company Info (5%) Area Information (21%) IDX/MLS (96%)
  6. 6. “Failing to make a decision to SWANEPOEL REPORTS change is simply not an option – the market will make one for you.” (2008 Swanepoel Report) “Generation X and Y are growing up with a poor perception of the real estate industry.” “They believe they can and should fix it.” (2008 Swanepoel Report)
  7. 7. THE WHAT AND WHY OF REAL ESTATE 2.0
  8. 8. 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
  9. 9. It’s Like an Episode of Seinfield….
  10. 10. They are talking about... 13
  11. 11. anything.
  12. 12. everything.
  13. 13. yes, even real estate.
  14. 14. Marketing is a Conversation
  15. 15. THE WHAT AND WHY OF REAL ESTATE 2.0 84% of Consumers used an REALTOR® 84% of Consumers used Internet Frequently Used Resources in Purchase Internet 66% REALTOR® 64% Found following resources useful Agent 70% Internet 78% (Sources for all: Swanepoel Trends Report and NAR Profile of Buyers and Sellers for 2007)
  16. 16. THE WHAT AND WHY OF REAL ESTATE 2.0 • On-Line Consumer Demographics – 64% are Married – 18% are Single Females – Median age is 37 – Median Income is $76,900 • First Step Taken in Real Estate Transaction – 87% Started Researching On-Line – 20% Contacted a Real Estate Agent
  17. 17. THE WHAT AND WHY OF REAL ESTATE 2.0 • Most Useful Information – 84% Photos (At least 6) – 82% Detailed Listing Information – 60% Virtual Tours / Real Estate Shows – 39% Maps – 37% Neighborhood Information – 26% Agent Information • Average time for REALTOR to respond to consumer inquiry = 52 Hours • Average number of pictures per listing = 2
  18. 18. 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
  19. 19. YouTube Moment Social Media in Plain English 23
  20. 20. Social Media in Plain English 24
  21. 21. HERE’S HOW THEY TALK… • Instant messenger • Blogs • Event sharing • E-mail • Social bookmarking • Video sharing • Podcasts • Microblogging • Photo sharing • Widgets • Message boards • Wikis • RSS • Crowdsourced news • Social networks • …and much more!
  22. 22. THE LANGUAGE OF 2.0 • Blogs •“Friends” • Social Media •IM or Instant Messenger • Wiki •Links • Widget •Lurkers • Aggregation •Mashups • Avatars •Permalinks • Posts •Trackbacks • Comments •Podcasts • Subscribing •RSS • Tags
  23. 23. 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 main office 2. Licensee’s Name 3. License Status 4. Jurisdiction(s) Licensed
  24. 24. VIRGINIA - DEFINING TECHNOLOGY Virginia Code 18VAC135-20-190 All Advertising must be under the direct supervision of the principal broker or supervising broker, in the name of the firm and, when applicable, comply with the disclosure required by 54.1-238.1 of the Code of Virginia. 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
  25. 25. 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.
  26. 26. 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
  27. 27. THE SOCIAL MEDIA OPERATING SYSTEM
  28. 28. CODE OF ETHICS ➡ Standard of Practice 1-2: Applies Code articles to the internet ➡ Standard of Practice 1-9: Confidentiality ➡ Article 10: Fair Housing ➡ Article 12: Honesty in Marketing (Similar to VAC) ➡ Article 13: Prohibition from giving Legal Advice ➡ Article 15: Reckless Statements about other REALTORS®
  29. 29. GENERAL LEGAL CONSIDERATIONS: BLOGS ‣ Defamation ‣ Unlicensed Practice of Law ‣ Breach of Confidentiality of Clients ‣ Copyright Violations ‣ Unfactual Statements ‣ Trademark Considerations ‣ Necessity for Required Disclosures
  30. 30. WWW.GOOGLE.COM/ALERTS
  31. 31. FACEBOOK GROUPS
  32. 32. YouTube Moment RSS in Plain English 36
  33. 33. 37
  34. 34. 38
  35. 35. 39
  36. 36. MUST READ SITES • www.FAARForum.com • www.VARBuzz.com • http://narblog1.realtor.org • Your Local Newspaper • You Local Association's Blog • www.AgentGenius.com
  37. 37. 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 reporting, teaching, or scholarly research); Remove infringing content immediately; Have a well-crafted Terms of Use Instruct agents and those posting to use caution when posting; Realize that blogs can be viewed as an advertisement 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 active role in the publishing the contents.
  38. 38. Add Agents to Personal RSS Feeder Have written policy Outline what they are permitted 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
  39. 39. POPULAR HIGH RISK PRACTICES False Statements about Competitors and /or their practices Article Anti-Trust Violations Picture Manipulation or “Enhancements” Article 2 Non-Violation Practices Posting Listings Being “mean”
  40. 40. CREATE POLICIES ‣ Appoint a Tech Savvy Broker, as the New Media Manager. ‣ Have written policies to govern who can write blogs etc… Then what they are permitted to write: ‣ Only factual information ‣ Must have disclosures ‣ Must report any complaints made on their posts ‣ The may not edit comments except for….
  41. 41. Be Safe Out There! Part II 45
  42. 42. Electronic Signatures UETA = Uniform Electronic Signature Act (1999)
  43. 43. 47
  44. 44. 48
  45. 45. HiJacked Listings! 49
  46. 46. 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) 50
  47. 47. Now... To Build a Community Part III 51
  48. 48. 52
  49. 49. 53
  50. 50. If you can‘t be found online... You don’t exist 54
  51. 51. Google.com/addurl 55
  52. 52. 56
  53. 53. 57
  54. 54. 58
  55. 55. I say Innovation - Does my broker? 59
  56. 56. 60
  57. 57. 61
  58. 58. Blogging: Recruitment and Retentions Multi-Author Approach Writing for Agents and Consumers Forum based tool for agents RSS is your Friend Wordpress.org versus Wordpress.com Pace Budgets 62
  59. 59. 5 Must-Use Tools for Brokers 63
  60. 60. 64
  61. 61. 65
  62. 62. 66
  63. 63. www.FAARForum.com www.TheAgentTrainer.com Matthew Rathbun, Director of Professional Development ABR, ABRM, ASR, CSP, E-PRO, ECO-BROKER, GRI, GREEN, QSC, RECS, SRS, SRES www.MatthewRathbun.com

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