Education And Tools For Real Estate Professionals

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  • 1. www.roren.ro Warning: Education for Real Estate Professionals is not enough to add higher value Stefan Negritoiu Co-founder, Romanian Real Estate Network December 5, 2008
  • 2. www.roren.ro Agenda What makes a professional a professional? DIY (Do-It-Yourself) vs. Full-service on the real estate market State of affairs on the Romanian market The missing link to becoming a market of recognized professionals
  • 3. www.roren.ro Lets look at a few established professions...
  • 4. www.roren.ro Doctors, Nurses Specialized education: Specialized tools: 2-6 years
  • 5. www.roren.ro Architects Specialized education: Specialized tools: 2-4 years
  • 6. www.roren.ro Accountant, Financial analyst Specialized education: Specialized tools: 2-4 years
  • 7. www.roren.ro Specialized Education Professionals (Specialists) Specialized Tools
  • 8. www.roren.ro RE agents, appraisers, mortgage and land record specialists Specialized education: Specialized tools: 0-24 months
  • 9. www.roren.ro Why should I care? 1) Difficult to win business
  • 10. www.roren.ro Added Value 10 1 Non-specialist Specialist (Education + Tools + Experience)
  • 11. www.roren.ro Why should I care? 2) Easy to lose business
  • 12. www.roren.ro Non-specialist (i.e. your clients) Specialist (i.e. you) DIY (Do-It-Yourself) Full-service FSBO (For-Sale-By-Owner) Real Estate Brokers Plan General press (when should I sell?) Prepare Point-and-shoot camera (how should I prepare?) Promote Classifieds (how do I find a buyer?) (newspapers, portals) Negotiate Haggling (how do I get the right price?) Close Bureaucracy (what paperwork do I need?) Payment Stress (how do I get my money?)
  • 13. www.roren.ro No wonder is hard to show value... Since the client doesnt think of you as a provider of services, but rather as a worthless amateur, its very obvious the situation is a non-starter. Often, you look bad in front of a client right from the start; Ive been through many such situations; clients would ask me how much their house is worth, Id tell them, to which they quickly reply that another real estate agent told them they could get 10K more. At present, whether your client is a seller or buyer, trust in real estate agents is relatively low; there are many outfits claiming to broker transactions... some more professional, others a lot less... *quotes from a RoREN market study surveyed in Sept. 2007
  • 14. www.roren.ro Yes Virginia, there is a better way... 1) Study, study, study 2) Build, sell, buy, and use tools, tools, tools
  • 15. www.roren.ro Statistically-valid statistics
  • 16. www.roren.ro Information exchange platform / MLS Developer Real Real SellWell Estate Estate FairPlay Broker Broker Real Estate Broker
  • 17. www.roren.ro
  • 18. www.roren.ro
  • 19. www.roren.ro Marketing tools: 1) Market segmentation 2) A/B testing
  • 20. www.roren.ro Non-specialist (i.e. your clients) Specialist (i.e. you) DIY (Do-It-Yourself) Full-service FSBO (For-Sale-By-Owner) Real Estate Brokers Plan General press Statistics (when should I sell?) Prepare Point-and-shoot camera Improvements, (how should I prepare?) decoration, photography Promote Classifieds Marketing, CRM, (how do I find a buyer?) (newspapers, portals) MLS Negotiate Haggling Less emotion, more (how do I get the right price?) market analysis Close Bureaucracy Simplicity, (what paperwork do I need?) automation Payment Stress Financing, escrow, (how do I get my money?) insurance, safe
  • 21. www.roren.ro Call to Action Learn, practice, repeat... Differentiate yourself through the use of specialized tools Join RoREN to build the next generation information infrastructure for the real estate market Thank you! 2008 RoREN Development S.A.