real estate salespersons presentation june 09

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