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Property Pro Summit 2016
Online Property Marketing
Adriaan Grove | CEO, Entegral
adriaanGV [email protected]
Property Pro Summit 2016
In this webinar…
● The (ever) changing role of the estate agent● Property portals, friend or foe?● Where is online real estate headed?● Tips for maximum online exposure
Pre-internetEstate agents were the main source of anything
property related including listings and current plus historic sales data.
Property Pro Summit 2016
Each property had its own listing file!
Pre-internetAgents advertised in local newspapers for a fee.
Buyers scanned the newspapers and phoned agents based on limited property information.
Property Pro Summit 2016
Buyers could only see new properties once a week!
Front page ad? Wow - lots of exposure!
Pre-internetLots of physical viewings to narrow down selections based
on your assumption of what the buyer wanted.
Property Pro Summit 2016
Luckily fuel was cheaper back then!
(and less traffic!)
Post-internetBuyers can find historic sales and other property
data online, in most cases free.
Property Pro Summit 2016
Post-internetAgents advertise in national property portals for a fee and
also invested in own websites. Buyers can search for property 24/7 and narrow their search.
Property Pro Summit 2016
Post-internetLess physical viewings based on pre-selection that buyer
did through your website, portal, virtual tour.
Property Pro Summit 2016
The changing face of the real estate industry
Property Pro Summit 2016
Property Files
Newspapers, TV
Traditional brick and mortar agencies
Bundled services
Agent is thedata keeper
Word of mouth
(Online) Database
Portals, PC, mobile
Hybrid agenciesDiscounted fees, salaried agents, rebates etc,
unbundling of services
Agent is thedata verifier
Online reviews
LISTING
BEFORE NOW
MARKETING
AGENCY
AGENCY
RECOMMEND
The changing face of the real estate industry
Property Pro Summit 2016
Prepared to wait
Once a weekLOCAL
Physical80% search by agent
Valuation
Instant feedbackrequired
24 / 7 on multiple devicesGLOBAL
Virtual80% search by buyer
Validation
COMMUNICATION
BEFORE NOW
MARKETING
VIEWINGS
PRICING
Property Pro Summit 2016
● More pressure to justify commissions due to:
○ easy access of property data online○ ability to narrow down exact properties of interest○ cheap + quick online marketing options○ growing presence of property portals○ growing presence of discount agencies○ FSBO (for sale by owner portals) who discredit you
The changing role of the estate agent
Property Pro Summit 2016
● Today you need to be very tech savvy about:
○ social media presence to build trust○ online marketing knowledge to create leads○ open to explore emerging technologies
● Today you need to prove yourself online
○ as a trustworthy source○ as an expert of your local neighborhood○ as a professional, qualified real estate agent
The changing role of the estate agent
Property Pro Summit 2016
“...You can’t look at the competition and say you’re going to do it better.
You have to look at the competition and say you’re going to do it differently...”
~ Steve Jobs
Property Pro Summit 2016
Current view of estate agents on portals
● You are too expensive● You hold us ransom● You are trying to replace us
Property Pro Summit 2016
As a result:
Agency owned and partially owned portals are rising to protect agent market share and profits (does this sound familiar? Hint - print publications)
But is it working? ...Launched to counter the domination of the Zoopla and Rightmove duopoly and online agencies.
How to portals start and operate?
Property Pro Summit 2016
Property portals thrive on the number of listings:
● It helps with better search engine ranking● The more listings, the more leads● Start of internet most portals started as a free
service as agents didn’t see the value● Today most portals are funded by media
companies or investment groups. All large portals in SA funded this way, there are some exceptions:
Property Pro Summit 2016
You’re paying property portals thousands/month to:
● Repackage your property information● Sell it back to you and 3rd party advertisers
● Use your data to generate content that drives traffic to their website that generates advertising revenue & leads, and sell those leads back to you.
● Use this income to market themselves better and drive more leads in the process
Portals are changing dramatically
Property Pro Summit 2016
In the past property portals were:
● Simple advertising platforms for estate agents● Generated leads back for estate agents● Asked flat & cheap advertising fees to list
properties● Had little interest from investors and were
generally self funded● Slowly replaced newspapers
Portals are changing dramatically
Property Pro Summit 2016
Portals today:
● Providing complex advertising structures that extends to paying per lead or transaction, featuring listings, yourself or your agency
● Ranks properties and agents based on quality but also on paid promotions
● Getting more feedback from end users
Portals are changing dramatically
Property Pro Summit 2016
Portals today:
● Have huge interest from investors (think News Corp buying Realtor.com for $950 million).
● They need to turn a profit and grow to please investors
● Sorry - Property portals aren’t going to get cheaper
Portals are changing dramatically
Property Pro Summit 2016
Portal are moving towards:
● Being simple media platforms to getting more involved in the real estate transaction process at every level;
● It has the capacity and investment required to slowly change the real estate industry;
● Are acquiring more info about the buyer, seller and the property. There are getting better at matching buyers with properties, with the greater potential for transactions to occur.
Portals are changing dramatically
Property Pro Summit 2016
Current focus of portals:
● Get all your listings and marketing knowledge● Build better ranking through neighborhood
profiles● Build more trust through free historic sales
data● Charge you more to increase their marketing
spend (and make investors happy)● In short, monetize every aspect about online
real estate
Portals are changing dramatically
Property Pro Summit 2016
● Portals want to work with estate agents that see the ROI (return on investment) for their ad spend
● Possibly want to generate more income from less agents. More exclusive.
● A widening in the gap for leads for agents who are willing to spend extra vs those who pay standard rates
● Getting more difficult for the average agent to get maximum exposure.
Property Pro Summit 2016
What new models are we seeing?
Allows sellers to request offers in as little as 3 min. and select their closing date if they like the pricewww.opendoor.com
A platform that provides online buying and selling of real estate and streamlines process, backed by Google
The rise of the online agency
Pioneered easy access to property estimates (zestimates)
Where is online real estate headed?
Property Pro Summit 2016
Uber changed the Taxi Industry...AirBNB changed the Hotel Industry…
____ changed the Real Estate Industry...
My view: Lots of smaller innovations that improve and streamlines the current marketing and sale
processes
Where is online real estate headed?
Property Pro Summit 2016
● Promoting more instant responses● Virtual Reality Viewing and improved virtual tours
● Lots of startups that focus on how they can make market and sale processes simpler, cheaper and more efficient (small tech disruptions).
● More on demand services● Machine learning. What the buyer wants. Better matching.● Collaborative economy: more companies working together with
the agent the transaction or project coordinator
Online advertising channels available to estate agents
Property Pro Summit 2016
● Agency and personal websites● Blogs● Property Portals● Social Media (Facebook, Twitter, Pinterest etc)● Search Engines (Organic and Paid advertising)● Banner ads on websites● Email newsletters● Automated Property alerts● Free valuations● Guest posts
Organic Search Engine Ranking
Property Pro Summit 2016
The misconception that web developers can do magic tricks to get your agency website to the #1 position in Google in no time.
Forget about that.
SEO (Search Engine Optimisation)
Property Pro Summit 2016
How to rank naturally high in search engines:
● There is no ‘instant’ recipe, it is a long term commitment and investment.
● You have more control over search engine ranking than ever before.
● Content is king● Write good quality, unique, local content. It is a
long term investment.● Invest in your own website and social media
accounts to create trust.
Organic Search Engine Ranking
Property Pro Summit 2016
Right now with Google:
Quality content, mobile, speed is king.
Property Pro Summit 2016
Paid ranking:
● Reach buyers on the point of search
● It can be expensive, need expert knowledge
● Focus on local
● Constant monitoring
Long Tail Keyword Targeting
Property Pro Summit 2016
The secret in getting better leads for less money - Paid and Organic Ranking
property
Property in Sandton
Property in Bryanston, Sandton
Clusters for sale in Bryanston, Sandton
3 bed clusters for sale in La Vie Estate Bryanston
Conversion
Cos
t
Online Tips
Property Pro Summit 2016
● Content is king. Area articles, tips etc● Build trust: agent reviews & testimonials● Make it personal (and interesting)● In-house vs outsource can help you focus on your
core business.● Create unexpected value e.g. online offers.● Follow up quicker on leads = response time is
critical to capturing lead● Photos sell a home - invest in a good camera or
photographer - stand out from the rest● Qualify your sources & put more focus on real
opportunities and not people who waste your time
Online Tips
Content marketing vs traditional ads
Property Pro Summit 2016
People don’t see and engage with advertising as they used to. Why we are seeing traditional channels such as print failing.
But people do connect with stories - that is how they remember things.Content marketing is about engaging people so you can create a voice of authority.
Lots of education needed in buying and selling a house (or renting). People will have loads of questions and they are using Google to find the answers.
Will they found your website and content?If you can answer their question, you have a much better chance of getting their business.
Many dubious places of information. This created a massive opportunity for estate agents to be a source for accurate and easy to understand information.
Online Tips
Property Pro Summit 2016
● Invest in a professional clean logo● Invest in a office or personal website, it should be responsive (or mobile at least)● Content marketing: creating content at all stages of the sales funnel with the
goal of advancing people to the next phase.○ Create a blog○ News articles on your website○ Social media posts ○ Create useful tools (bond calculator) and guides (e.g. selling tips) - this helps
build trust○ Weekly summary, new listings, prices, events etc○ Local services (e.g plumber, electriction, handyman)○ Free market evaluation○ Ask for reviews○ Answer questions○ Create local (your neighborhood) content○ Use geo-targeted ads
● Create more trust: Unpack your (invisible) services to your client - value the extra level of service. Put in in a blog or a presentation. It helps secure a mandate.
Better (online) time management
Property Pro Summit 2016
● 80% of business comes from 20% of your clients
● Focus your time, energy and marketing on attracting your true clients: those who recognise the value of your service - less time on those whose waste your time
The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes
Property Pro Summit 2016
Thank you for your time!
Use “PROSUM16” for 10% discount on any of Entegral’s products valid until end of June 2016
Adriaan Grove | CEO, Entegral
adriaanGV [email protected]