Online marketing - June 09

Real estate 2.0

Going beyond listings websites

1. The marketplace – current state of the market

2. Trends in online real estate

3. Realestate.co.nz

4. Getting the basics right - listings

5. Your profile – your future!

Real Estate 2.0 – the future

The great housing crash !!??

Beware of media hype!

-3.4%

-23.1%

Continued price declines

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

Supply and demand in the local market

Significant fall in new listings...

...taking inventory levels back to 2007

Understanding and interpreting information



3. Realestate.co.nz



Real Estate NZ – our industry

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



3. Realestate.co.nz




Consistent growth – outperforming the market

Driving international viewers

Up to the minute activity in the market - emails

Realestate.co.nz – your site

Trade Me residential property listings - 57,373 includes an

estimated 6,000 private listings

2007/8 2008/9

Offices 1,450 1,220

Subscribers 1,300 1,147

Share 90% 94%

Subscription $2.93m $2.64m

Web traffic 265,000 365,000

Profit Reinvested Reinvested

Scorecard

Future for realestate.co.nz

1. The best and most respected marketing tool for real estate professionals

2. Most valued online source of property information

3. Trusted / authoritative source of real estate information

4. Leaders in online marketing – tools and services

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?



3. Realestate.co.nz




What are the key sources of property information

Evolving consumer experience

Searching for property


Searching for propertybuy

Searching for someone to help me sell my property

Getting inside the minds of buyers??

6 weeks of researching

2½ hours per week on specialist real estate websites

55%




What are they looking for?

Address

Accurate pricing Large images / high quality images

Maps

Get the basics right!

What are they looking at??

Understanding interest / behaviour

Email alerts – first impressions count!

Richer and richer information

Information online – StreetView from Google

New functionality

• Search filter

• Email schedule

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 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!

• Make sure you receive them!

– Check your email address

– Avoid gmail / xtra / webmail

• Respond as soon as practicable

– Use technology / or support teams

• Carefully consider your responses

Emails

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



3. Realestate.co.nz




“Homebuyers & Agents have information overload.

Agents must create legitimate value-add services & become the trusted go-to person”

Stefan Swanepoel

Challenging times

To be found you need to be online

Be responsive!




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

Competing for business in Halswell!

Fact finding – emotional question: help?

Fact finding – functional question

Fact finding – emotional question: respect?

Fact finding – emotional question: trust?

Blogs – hosted on realestate.co.nz

Providing relevant information

Leap-froging on Google

What buyers want information on?

Providing help and assistance

Be that trusted go-to person

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

Stay informed / stay connected

[email protected] / [email protected] / [email protected] 0800 732 536

us!

Technology

Online marketing - June 09