Risk-Adverse Real Estate Brokers


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Presentation for Risk-Adverse Real Estate Brokers in Virginia.

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Risk-Adverse Real Estate Brokers

  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  cer;fica;on,  visit  h>p:// crea;vecommons.org/licenses/publicdomain/  or  send  a  le>er  to  Crea;ve  Commons,  
  2. 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
  3. 3. WHAT  DID  THEY  FIND  IMPORTANT? 100 75 50 25 0 Agent Info (3%) Company Info (5%) Area Information (21%) IDX/MLS (96%)
  4. 4. “Failing  to  make  a  decision  to  change  is   SWANEPOEL  REPORTS simply  not  an  opFon  –  the  market  will   make  one  for  you.” (2008  Swanepoel  Report) “GeneraFon  X  and  Y  are  growing  up  with  a  poor   percepFon  of  the  real  estate  industry.” “They  believe  they  can  and  should  fix  it.” (2008  Swanepoel  Report)
  5. 5. THE  WHAT  AND  WHY  OF  REAL  ESTATE  2.0
  6. 6. 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 • 320+  million  acFve  users • Average  users  have  120  friends • 18  million  update  daily • Over  3  Billion  minutes  spent  on  Facebook  daily – Source:  h<p://www.facebook.com/press/info.php?staDsDcs
  7. 7. It’s Like an Episode of Seinfield….
  8. 8. They  are  talking  about... 9
  9. 9. anything.
  10. 10. everything.
  11. 11. yes,  even  real  estate.
  12. 12. What  is  Social  Media? Social  media  is   with  other   people  on  the   people  talking internet!
  13. 13. MarkeFng  is  a  ConversaFon
  14. 14. 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:  NAR  Profile  of  Buyers  and  Sellers  for  2007)
  15. 15. Engage Educate Edify 15:1  Engage  to  Pitch  RaDo 17
  16. 16. 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
  17. 17. 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
  18. 18. 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
  19. 19. 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.
  20. 20. 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
  21. 21. CODE  OF  ETHICS  APPLICATION ➡ Standard  of  PracDce  1-­‐2:  Applies  Code  arDcles  to  the  internet ➡ Standard  of  PracDce  1-­‐9:  ConfidenDality ➡ ArDcle  10:  Fair  Housing ➡ ArDcle  12:  Honesty  in  MarkeDng  (Similar  to  VAC) ➡ ArDcle  13:  ProhibiDon  from  giving  Legal  Advice ➡ ArDcle  15:  Reckless  Statements  about  other  REALTORS®
  22. 22. GENERAL  LEGAL  CONSIDERATIONS:  BLOGS ‣ DefamaDon ‣ Unlicensed  PracDce  of  Law ‣ Breach  of  ConfidenDality  of  Clients ‣ Copyright  ViolaDons ‣ Untrue  Statements ‣ Trademark  ConsideraDons ‣ Necessity  for  Required  Disclosures
  25. 25. 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  reporFng,  teaching,  or  scholarly  research); Remove  infringing  content  immediately; Have  a  well-­‐cra`ed  Terms  of  Use Instruct  agents  and  those  posFng  to  use  cauFon  when  posFng; Realize  that  blogs  can  be  viewed  as  an  adverFsement  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  acFve  role  in  the   publishing  the  contents.
  26. 26. Add  Agents  to  Personal  RSS  Feeder Have  wriden  policy Outline  what  they  are  permided  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  markeFng  venue  that  they  use.
  27. 27. POPULAR  HIGH  RISK  PRACTICES False  Statements  about  CompeGtors  and  /or   their  pracGces AnG-­‐Trust  ViolaGons Picture  ManipulaGon  or  “Enhancements” ArFcle  2  Vendedas
  28. 28. CREATE  POLICIES ‣ Appoint  a  Tech  Savvy  Broker,  as  the  New  Media   Manager. ‣ Have  wriWen  policies  to  govern  who  can  write  blogs   etc…     ‣ What  they  are  permiWed  to  write: ‣ Only  factual  informaFon ‣ Must  have  disclosures ‣ Must  report  any  complaints  made  on  their  posts ‣ The  may  not  edit  comments  except  for….
  29. 29. Be Safe Out There! Part II 31
  30. 30. Electronic  Signatures UETA = Uniform Electronic Signature Act (1999)
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  33. 33. HiJacked Listings! 35
  34. 34. 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) 36
  35. 35. www.TheAgentTrainer.com matthew@realtor.com Facebook.com/mattrathbun Twitter.com/mattrathbun
  36. 36. Now... To Build a Community Part III 38
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  39. 39. If  you  can‘t  be  found  online...   You  don’t  exist 41
  40. 40. Google.com/addurl 42
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  44. 44. I say Innovation - Does my broker? 46
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  47. 47. Blogging:  Recruitment  and  RetenDons MulD-­‐Author  Approach WriDng  for  Agents  and  Consumers Forum  based  tool  for  agents RSS  is  your  Friend Wordpress.org  versus  Wordpress.com Pace Budgets 49
  48. 48. 5  Must-­‐Use  Tools  for  Brokers Company / Association Blogs 50
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  51. 51. www.TheAgentTrainer.com matthew@realtor.com Facebook.com/mattrathbun Twitter.com/mattrathbun