While real estate brokerages were trying to out-market each other, buyers and sellers were blogging about their experiences and communicating with one another in digital formats.
The Eyes Have It: Understanding Home Buyer Internet Search BehaviorOscar Gonzales
This presentation examines the science behind ocular technology and homebuyers searching for homes on the Internet.
The relevance of photos, property descriptions, agent remarks on websites, “F & Z” patterns of design, and comparisons of real estate professionals and home buyers are examined.
To be successful, a broker’s business strategy, internal infrastructure, and strategy deployment requires synchronization. When strategy is aligned with a “lifestyle” approach, it retains and motivates agents and appeals to the generation of “wired” home buyers and sellers.
The Eyes Have It: Understanding Home Buyer Internet Search BehaviorOscar Gonzales
This presentation examines the science behind ocular technology and homebuyers searching for homes on the Internet.
The relevance of photos, property descriptions, agent remarks on websites, “F & Z” patterns of design, and comparisons of real estate professionals and home buyers are examined.
To be successful, a broker’s business strategy, internal infrastructure, and strategy deployment requires synchronization. When strategy is aligned with a “lifestyle” approach, it retains and motivates agents and appeals to the generation of “wired” home buyers and sellers.
Trustful and Trustworthy: Manufacturing trust in the digital era.ESADE
At the beginning of the so-called Fourth Industrial Revolution,
speaking about social innovation means looking at the Digital
Economy. This is a new economic paradigm, which not only
makes the Internet an infrastructure and a communication
channel but also a way of creating value. The disruption this
causes places us in a digital world that is ever more connected,
flexible and swifter, changing the social relationships we have
known hitherto out of all recognition. We are shifting from
Business-to-Consumer (B2C)1 models to bilateral or Peer-to-
Peer (P2P) models, where we can both buy and sell and link to
other users through platforms that set the economic heartbeat
of our societies.
Consumers are increasingly taking control of the purchasing process across a wide range of industries, and making decisions with far less reliance on ‘experts’. It is important for REALTORS® to understand the resulting impacts and find ways to respond to trends such as decreasing loyalty, low perceived REALTOR® value, increased switching, REALTOR® auditioning, increasing demands for transparency, Buyer Agency Agreement tension and removing the REALTOR® as middleman.
This research report is a part of the British Columbia Real Estate Association's Journey of Discovery. BCREA launched the Journey of Discovery (JOD) to help our organization and BC’s eleven member boards strategically plan for the next five years. This project seeks to understand where the greatest contributions of products and services could be for increasing the innovation of REALTORS® in service of their consumers. If organized real estate is to effectively adapt to and proactively initiate change, which we believe is necessary now more than ever, the first stage is to gain a solid understanding of the current and future states of the industry. For access to the slides with links and our other reports, please visit http://web.bcrea.bc.ca/jod/reports.htm
This presentation was prepared by CE Holmes Consulting, Solvable & Monique Morden Consulting
The changing face of consumer behaviour in the digital age FOR BCOM , CA, CM...Bibek Prajapati
The changing face of consumer behaviour in the digital age FOR BCOM , CA, CMA CA, MCOM,, PG , MBA STUDENTS
The internet has a profound impact on various industries but very few industries have witnessed a metamorphosis like marketing.
Success at retail is about creating great experiences. Just like dating.
Sources:
1. 2011 Rightnow Customer Experience Impact Report
2. Harbor Industries: Industry Trends and Insights
3. Kissmetrics - The Price of Bad Customer Service
4. Forrester / The Business Impact of Customer Experience, 2012
5. Dr4ward / What is Social Currency and How Does it Effect Social Commerce? Infographic
Face of Today's Consumer: 2010 Trend ReviewK Anggakara
What drives consumer to go wow nowadays? Business must acknowledge that in 2010, the face of consumer has changed in an extent never seen before!, the presentation offer a view on the consumer trend and how business gel-in to the matter.
Real Living Lifestyles Listing Presentation rllifestyles
Real Living Lifestyles Real Estate Listing Presentation. Real Estate agents with the most progressive brokerage in San Diego have the tools and skills to get your home sold faster and for a higher price than other real estate agents.
"Real Estate Business Review is a Business and Technology Magazine for Real estate Industry which offers the latest news, CXO articles. Top solution providers in Real estate."
Trustful and Trustworthy: Manufacturing trust in the digital era.ESADE
At the beginning of the so-called Fourth Industrial Revolution,
speaking about social innovation means looking at the Digital
Economy. This is a new economic paradigm, which not only
makes the Internet an infrastructure and a communication
channel but also a way of creating value. The disruption this
causes places us in a digital world that is ever more connected,
flexible and swifter, changing the social relationships we have
known hitherto out of all recognition. We are shifting from
Business-to-Consumer (B2C)1 models to bilateral or Peer-to-
Peer (P2P) models, where we can both buy and sell and link to
other users through platforms that set the economic heartbeat
of our societies.
Consumers are increasingly taking control of the purchasing process across a wide range of industries, and making decisions with far less reliance on ‘experts’. It is important for REALTORS® to understand the resulting impacts and find ways to respond to trends such as decreasing loyalty, low perceived REALTOR® value, increased switching, REALTOR® auditioning, increasing demands for transparency, Buyer Agency Agreement tension and removing the REALTOR® as middleman.
This research report is a part of the British Columbia Real Estate Association's Journey of Discovery. BCREA launched the Journey of Discovery (JOD) to help our organization and BC’s eleven member boards strategically plan for the next five years. This project seeks to understand where the greatest contributions of products and services could be for increasing the innovation of REALTORS® in service of their consumers. If organized real estate is to effectively adapt to and proactively initiate change, which we believe is necessary now more than ever, the first stage is to gain a solid understanding of the current and future states of the industry. For access to the slides with links and our other reports, please visit http://web.bcrea.bc.ca/jod/reports.htm
This presentation was prepared by CE Holmes Consulting, Solvable & Monique Morden Consulting
The changing face of consumer behaviour in the digital age FOR BCOM , CA, CM...Bibek Prajapati
The changing face of consumer behaviour in the digital age FOR BCOM , CA, CMA CA, MCOM,, PG , MBA STUDENTS
The internet has a profound impact on various industries but very few industries have witnessed a metamorphosis like marketing.
Success at retail is about creating great experiences. Just like dating.
Sources:
1. 2011 Rightnow Customer Experience Impact Report
2. Harbor Industries: Industry Trends and Insights
3. Kissmetrics - The Price of Bad Customer Service
4. Forrester / The Business Impact of Customer Experience, 2012
5. Dr4ward / What is Social Currency and How Does it Effect Social Commerce? Infographic
Face of Today's Consumer: 2010 Trend ReviewK Anggakara
What drives consumer to go wow nowadays? Business must acknowledge that in 2010, the face of consumer has changed in an extent never seen before!, the presentation offer a view on the consumer trend and how business gel-in to the matter.
Real Living Lifestyles Listing Presentation rllifestyles
Real Living Lifestyles Real Estate Listing Presentation. Real Estate agents with the most progressive brokerage in San Diego have the tools and skills to get your home sold faster and for a higher price than other real estate agents.
"Real Estate Business Review is a Business and Technology Magazine for Real estate Industry which offers the latest news, CXO articles. Top solution providers in Real estate."
The literature review draws on the mainstream corporate governance literature in finance as its base and highlights the differences in motives between real estate and non-real estate related merger activity.
Source: Journal of Housing Research
This study explores the performance of residential real estate agents and the commission structure under which they operate. This study reveals the interrelationship among the number of properties sold by an agent, the dollar volume of sales, and real estate agent income. This research shows that the ability to generate listings is essential to generating higher levels of income in residential real estate sales.
Homebuyer Internet Search Behavior Study 2.2012Oscar Gonzales
Source: The Journal of Real Estate Research
This study examines the eye movements of homebuyers searching for homes for sale on the Internet. Total dwell time (how long a person looks at the photo), fixation duration (time spent at each focal point), which significantly explain someone's opinion of the home and its value. The sections that are viewed first are the photo of the home, the description section, distantly followed by the real estate agent remarks section. AND FINALLY, charm pricing, the marketing technique where agents list properties at slightly less than round numbers, works in opposition to its intended effect and questions the wisdom of using a charm pricing marketing strategy.
Are You On The Bullet Train To Irrelevance?Oscar Gonzales
Staying relevant with today’s homebuyers requires adapting to change and moving beyond and outside the doldrums of the norm. This presentation:
• Looks five years into the future for what changes are predicted by industry leaders
• Discusses the “power shift” from real estate professionals to consumers
• Examines Consumer/Homebuyer driven Business Models
• Teaches students how to utilize the “Next Generation” business model canvas to service the next generation of homebuyers.
This presentation is designed to educate real estate professionals on the language and cultural nuances of the multicultural consumer. The course provides the real estate professional with the tools to assist the multicultural consumer understand the U.S. home buying process while keeping the real estate professional within the confines of fair housing laws.
Are you on the bullet train to irrelevance? Understanding the changing population profile is critical to the success of every real estate professional. The dramatic population changes that are transcending over the next five years will require a new approach to service.
Staying relevant with today’s homebuyers may require a professional makeover and changing the traditional approaches to listing and selling property. Studies show that today’s homebuyers and consumers listen more to one another than they do to marketing messages of advertisers. A similar study found that advertising conducted by a company is acknowledged more by a company’s competition rather than the intended target audience.
Every Broker and Agent must ask themselves what business they are in and whether their traditional idea of “how to be in the real estate business” is still relevant to what the customers want and how does get you to Super from Great to Super!
1. THRIVING IN THE ERA OF SOCIAL
industry gained a strong professional foothold, which was followed by the 70’s, 80’s and 90’s
and the emergence of franchises and electronic MLS systems. Changes in the industry were for
the most part internally driven.
Fast-forward to the 2000’s. The industry underwent rapid changes that were no longer internally
driven. External dynamics had shifted control to the home buyer from a position of dependence
to one of choice that established a new benchmark in the value proposition expected from the
brokerage.
As each new generation is offered choices their standards go up. As an industry we haven’t
necessarily kept pace. Home buyers and sellers have a choice of communication mediums and
easy access to data. They expect a choice not to commit and possess an increasing sense of
entitlement.
An agent's reliability, responsiveness to clients' needs, and empathy with customers still remains
the most important factors in measuring overall service quality (with empathy being the major
factor leading to agent referrals). To focus on who will win is to miss the point about homebuyer
and agent relationships: The new doesn’t replace the old; the new and the old combine.
Traditional strategy is where the broker’s market advantage is defending against competitors.
Focusing on scale, efficiency, and productivity means you are on the fast track to irrelevance in
the eyes of the consumer.
Service delivery that is consumer and lifestyle focused is what builds relational equity in today’s
marketplace. To thrive in the Social Era, the customer should be viewed as your partner and
considered a source for value creation and competitive advantage rather than just another end
user of your service.
While real estate brokerages were trying to out-market
each other, buyers and sellers were blogging about their
experiences and communicating with one another in
digital formats. What we did realize was that it wasn’t
all about the technology.
Real estate brokerage emerged as a full-time occupation
in the late nineteenth century. By the early twentieth
century, the professionalization of real estate brokerage
aggressively spread across the country, setting in motion
a new American middle class that was home ownership
driven. Beginning in 1940 and through the 1960s,
starting with the post-World War II building boom, the
Copyright 2013 Oscar Gonzales