How the internet is transforming real estate

1. The web is the home of real estate

2. Understanding the buyer behaviour

3. The web provides rich information

4. Getting the basics right - listings

5. Your profile – your future!

How to make the most of the web

This is real estate 2009!

Latest research from USA – the web #1 for search

National Association of Realtors Home Buyer Survey 2008

The web is central to real estate in 2009!

78%

63%

46%

40%

38%

38%

36%

35%

31%

29%

5%

4%

4%

2%

9%

69%

55%

55%

49%

34%

25%

25%

24%

43%

21%

2%

4%

2%

7%

Specialist Real Estate Websites

Company Real Estate Websites

Specialist Real Estate Magazines

Community/Local newspapers

Company Real Estate Magazines

Search Engines

For Sale Signs

Real Estate Brochures

Metropolitan Newspapers - print or online editions

Real Estate Office Window Displays

Billboards

Consumer Magazines

Television

Directories

Other

2009

2008

NZ: Media usage – searching for property

Consumer attitude - newspapers ??

95% consider specialist website useful / very useful

Consumer attitudes to online search

Traditional model has changed

Buyers in control

Relationship with buyers has changed

5 – 10 years ago

Today

Research / Research / Research

““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”

Real estate professionals need to change!

1. The web is the home of real estate

2. Understanding the buyer behaviour

3. The web provides rich information

4. Getting the basics right - listings

5. Your profile – your future!

How to make the most of the web

“Edutainment”

Breadth

Understanding interest / behaviour

Browse full set of listings in target areas

Depth

“Serious buyers”

Narrow down to view target listings in area Narrow down to view target listings in area

Quick-look filter Quick-look filter

Deeper filter & inspirationDeeper filter & inspiration

Price check & risk reductionPrice check & risk reduction

Depth

Browse full set of listings in target areas

Evolving consumer experience

Searching for property

Evolving consumer experience

Searching for propertybuy

Searching for someone to help me sell my property

25,0166,000 / week

25,0166,000 / week

3,6364,500 / week

3,6364,500 / week

7,8103,500 / week

7,8103,500 / week

41,107100,000 / week

41,107100,000 / week

10,10315,000 / week

10,10315,000 / week

17,4128,000 / week

17,4128,000 / week

7,16230,000 /

week

7,16230,000 /

week

Not one site – many audiences

110,000 listings – 168,000 sessions per week110,000 listings – 168,000 sessions per week

Understanding interest / behaviour

1. The web is the home of real estate

2. Understanding the buyer behaviour

3. The web provides rich information

4. Getting the basics right - listings

5. Your profile – your future!

How to make the most of the web

>1,000,000 sessions per week

40% up on same period last year

Seasonal pick up– the web provides key indicatorSeasonal pick up– the web provides key indicator

Supply and demand in the local market

Rich / comprehensive property information

Property information at your finger tips

1,528,000 properties in NZ

Every property has a web page

1. The web is the home of real estate

2. Understanding the buyer behaviour

3. The web provides rich information

4. Getting the basics right - listings

5. Your profile – your future!

How to make the most of the web

What are they looking for?

Address

Accurate pricing Large images / high quality images

Maps

Get the basics right!

Richer and richer information

Information online – StreetView from Google

Google Maps – real estate

Email alerts – first impressions count!

Your listings – for your client and for you

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

17 times more views

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

Buyers - call to action

1. The web is the home of real estate

2. Understanding the buyer behaviour

3. The web provides rich information

4. Getting the basics right - listings

5. Your profile – your future!

How to make the most of the web

1998 : 26,000,000 web pages1998 : 26,000,000 web pages

2000: 1,000,000,000 web pages2000: 1,000,000,000 web pages

2008: 1,000,000,000,000 web pages2008: 1,000,000,000,000 web pages

100,000,000,000 clicks per day100,000,000,000 clicks per day

Courtesy of Business 2.0

How to be found on Google!

The power of links

To be found you need to be online

Part 1: Find yourself on Google

Part 2 : Be found on Google

Blogging – conversations online

• Web page

• Library of articles

• Profile

• Authentic / Transparent

• Requires commitment

• The most powerful form of marketing

Blogs – hosted on realestate.co.nz

What buyers want information on?

Social Media – building a profile

Free profile page – linked to your listings

Sell yourself!

Promote yourself everyday to over 15,000 people a day

Just 3 agents per suburb

July / Aug / Sep

$15 / $75 / $150 per month

Online ordering and credit card transaction

Login / sign up / profile yourself

“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

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industry