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Presentation by realestate.co.nz to the sales team of Harcourts Advantage, Tauranga - June 10 2009
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The Changing face of real estate
1. The marketplace – current state of the market
2. Trends in online real estate
3. The changing face of real estate
4. Getting the basics right - listings
5. Your profile – your future!
The changing face of real estate
2 very different decades
Market value trebled in 6 years
$41 billion
$22 billion
$13 billion
The highs and the lows – property sales
122,000
53,500
63,000
Strong start to 2009
Significant fall in new listings...
...bringing inventory levels back
Understanding and interpreting information
1. The marketplace – current state of the market
2. Trends in online real estate
3. The changing face of real estate
4. Getting the basics right - listings
5. Your profile – your future!
The changing face of real estate
Latest research from USA – the web #1 for search
National Association of Realtors Home Buyer Survey 2008
More and more people searching online for property – 20 million year to date
Over 1,000,000 visitor sessions per week through Feb / Mar / May up 15%
Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites
Strong enquiry levels
Realestate.co.nz – your industry website
Supporting and Protecting this industry – online
Monthly subscription
April 2006 - $200April 2007 - $200April 2008 - $200April 2009 - $200April 2010 - $200......
Consistent growth – outperforming the market
Driving international viewers
In May - 59% of visitors to realestate.co.nz DID NOT VISIT trade me property
213,487 Unique visitors visited
Realestate.co.nz and NOT Trade me property
150,568 UB’svisited BOTH sites
Buyers know where to look
Realestate.co.nz – your site
TradeMe – auction site for rubbish!
1. The marketplace – current state of the market
2. Trends in online real estate
3. The changing face of real estate
4. Getting the basics right - listings
5. Your profile – your future!
The changing face of real estate
The changing face of real estate?
Traditional model has changed
Buyers in control
Relationship with buyers has changed
5 – 10 years ago
Today
Research / Research / Research
“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
““Traditional agents will Traditional agents will not be replaced by not be replaced by
technology...technology...
..they will be replaced ..they will be replaced by agents with by agents with
technology”technology”
What’s really happening ?
Know your clients
• Where are they looking?
• What are they looking at?
• What are they looking for?
Where are they looking?
What are they looking at??
What are they looking for?
Property information at your finger tips
Providing information – 24hrs a day
1,528,000 properties in NZ
Every property has a web page
Context – where in relation to schools
Context of aerial images
Community information – where to live
Property and lifestyle information
What’s on the market?
Who lives in that suburb?
1. The marketplace – current state of the market
2. Trends in online real estate
3. The changing face of real estate
4. Getting the basics right - listings
5. Your profile – your future!
The changing face of real estate
Getting inside the minds of buyers??
6 weeks of researching
2½ hours per week on specialist real estate websites
55%
Understanding interest / behaviour
Email alerts – first impressions count!
Address
Accurate pricing Large images / high quality images
Maps
Get the basics right!
Richer and richer information
Information online – StreetView from Google
Featured listings
Featured listings – cost effective advertising
Negotiation AuctionListing # UPH10354 PO081104 Price range: $700k - $1m $750k - $850k
Listed: 21 Nov 21 Nov
4,114 page views in January with a featured
listing
232 page views in January
14 days with a featured listing delivers an
audience of over 10 times more viewings than a regular listing
$250 $250 inc GSTinc GST
Featured listing for just
Vendor paid marketing – that delivers
Handling enquiries
• Enquiries from buyers – when they have a question
• Only when they have exhausted their searching
• Responsiveness is critical
• How do you rate your performance?
How do you rate – responding to emails?
Response timing is improving – but 12% never respond!
1. Treat every email as a prospective buyer
2. Don’t be pushy – don’t demand a contact number
3. Answer their question
4. Treat the enquirer as a very early enquirer “I appreciate you may be at an early stage of looking for a property”
Emails – etiquette
The advice works!...
thanks for your email.
yes you are right. we have just started looking for a house in Parnell. Was looking more into Remuera, Greenlane, and Epsom. Didn't look into Parnell as I heard about how land in Parnell is leasehold. Not too sure where the line start and end.
Anyway, target area is for a Grammer zoned area. As we got a little girl that is close to 3 years old.
we prefer not to have any body corp. As we are not too sure if we want the hassle. I know some people prefers it.
Anyway, thanks
1. The marketplace – current state of the market
2. Trends in online real estate
3. The changing face of real estate
4. Getting the basics right - listings
5. Your profile – your future!
The changing face of real estate
1998 : 26,000,000 web pages1998 : 26,000,000 web pages
2000: 1,000,000,000 2000: 1,000,000,000
2008: 1,000,000,000,0002008: 1,000,000,000,000
The power of links
Understanding Google
Blogs – hosted on realestate.co.nz
Become the sector expert
Become the local expert
Social Media – building a profile
Featured agent
Promote yourself everyday to over 15,000 people a day
Just 3 agents per suburb
April / May / June
$25 / $75 / $150 per month
Online ordering and credit card transaction
The changing face of real estate