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Eric Eckardt, VP at Hubzu.com lead a session on real estate and technology at the Texas Association of Realtors in 2013. http://www.linkedin.com/in/ericeckardt Eric is a real estate technology entrepreneur that has founded several online businesses across this sector and is also a former investment banker on Wall Street. He has been quoted in several industry publications including Inman News, WSJ, and Bloomberg. He talks about mobile, technology, social media, video, and much more to a real estate audience.
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10 Ways Technology Can Help You Build Your Business
Experienced real estate technology entrepreneur
Licensed real estate broker in NY & FL
Founded virtual real estate brokerage serving CA, FL, NY
2012 Inman Most Innovative Real Estate Startup Finalist
Founded real estate, mortgage and other online businesses
Managing Partner / Owner of a leading Realogy brand
Sold independent brokerage to a Realogy brand
Former investment banker (leveraged finance)
Eric Eckardt Vice President & General Manager Direct to Broker at Hubzu
@
@ericeckardt
Client Engagement
Local/National Engagement
Business Management
Lead Generation
Virtual Office
Online Presence
Online Brand Management
Communication
Pick at least one technology practice that fits your model to implement into your business.
How can you use technology?
Technology can improve
efficiency, but is not a substitute
for a sound business model.
@ericeckardt
Today’s Home Buyer is Tech Savvy
90% of home buyers start their search online
85% of buyers use a mobile device
70% access the Internet from smart phones
15% access the Internet from tablets
Home Buyer Mobile Use
31%Gen X
1965-1979
28%Gen Y
1980-2000
18%Young Boomers
1955-1964
Frequency of Internet use is directly related to age.
Young buyers are more likely to use the Internet during their search.
@ericeckardt
Today’s Home Seller is Tech Savvy
88% of home sellers were assisted by an agent
@ericeckardt
Online Buying Behavior
$348.8
$301.7
FY 2012FY 2011
>90%
88%
FY 2012FY 2011
U.S. B2C eCommerce Salesin Billions
Online Real Estate Searches
>78,000
2013 YTDFY2009
Hubzu Homes Sold in Units
@ericeckardt
First-Time Home Buyers On the Rise
The share of first-time home buyers rose slightly to 39% in 2012.
83% of first-time home buyers were under the age of 44.
39% of buyers are first-timers vs. 34% of sellers.
First-time Buyer Share Closer to Historical Norm
2001
2003
1905
1905
1905
1905
1905
1905
1905
1905
1905
20%
25%
30%
35%
40%
45%
50%
55%
60%
42%40%40%40%
36%39%
41%
47%50%
37%39%
@ericeckardt
REALTOR® Profile 94% of REALTORS communicate with clients via mobile device
REALTOR Average Age = 57; only 50% use a smartphone
15% believe technology is the best way to distinguish yourself
REALTORS spent more on technology in 2012 than in 2010
50% of REALTORS use Facebook daily-to-weekly; 25% say the
same for LinkedIn
54% of REALTORS closed between 1 and 10 deals in 2011
Are you Technology Driven?
@ericeckardt
What does this mean for your business?
@ericeckardt
Of the 4 billion mobile phone, more than 1 billion consumers currently carry smart phones in their pockets.
200 million YouTube views occur on mobile daily
#1 Incorporate Mobile into Your Business
89% of new home shoppers use mobile search engine on the onset
@ericeckardt
Documentation: Free application that works across multiple platforms. Great way to review, edit, create Word docs, Excel spread sheets, and PowerPoint presentations.
Genius Scan
Scanning: You can scan documents on the go and then email or store the document in the cloud.
Consumer / Client: Allows you to create and share photos in a magazine style document. Take photos from your listing to create personalize magazine for the seller viewable on an iPad, iPhone, or iPod Touch
Demographic Info: Sitegeist helps you to learn more about your surroundings in seconds. Drawing on publicly available information, the app presents solid data in a simple at-a-glance format to help you tap into the pulse of your location anywhere in the U.S.
Beamr
Sitegeist
#1 How you can incorporate mobile
@ericeckardt
#1 OpenHouse Pro App
@ericeckardt
#1 Sitegeist App – Hyperlocal
@ericeckardt
Last year, 9.8 trillion texts were sent, according to The Chief Marketing Officer (CMO) Council.
Mobile is changing the normal routines of consumers and disrupting business models.
Texting Is the New EmailDoes Your Company Do It Right?
May 2013
#2 Texting is Here to Stay
@ericeckardt
May 2013
MightyText: Text from your computer or tablet using your CURRENT Android Phone and number. Send & Receive SMS on your computer or tablet. Instant Notifications on computer/tablet when SMS hits phone. 100% Free!
YouMail is a free app that offers a number of voicemail solutions including transcription, which will convert those voicemails into texts. Available for Apple and Droid.
#2 Texting is Here to Stay
Invisible Text (for Apple and Droid) prevents your messages and photos from being saved and/or forwarded by another party
@ericeckardt
Social media is a way to engage with your customers. Apps such
as Hootsuite, Buffer, Sproutsocial and Social Bro can help efficiently create relationships online.
#3 Embrace Social Media
@ericeckardt
#3 Manage Online Profile
@ericeckardt
67%
56%
2017EFY2012
Global Online Video Traffic
More than 6 billion hours of video are watched each month on YouTube
#4 Online Video Explosion
Source: Cisco
89 Million people in the U.S. will watch 1.2 Billion online videos today
@ericeckardt
Instagram Video 15 Seconds
Mobile Virtual ToursDesigned for Real Estate
#4 Online Video Explosion
@ericeckardt
#4 Incorporate Video
@ericeckardt
Engaging with Agents
#4 Online Video Explosion
@ericeckardt
#4 HdHat.com
@ericeckardt
Consumers have access to a wealth of information
Common Search Terms
#5 Internet Search – SEO
@ericeckardt
Historical Home Prices School Rankings Neighborhood Information
Comparable Homes Agent Reviews Market Inventory And MORE!
Google apps suite and other platforms are designed to help manage transactions, share documents and store data.
#6 Take Advantage of “The Cloud”
@ericeckardt
#6 Cloud Brokerage - Lean Approach
Test the “new” model continuously
@ericeckardt
#7 Utilize e-Signature Capabilities
@ericeckardt
VS
#8 High Quality Digital Photography
@ericeckardt
#8 High Quality Digital Photography
Use a free, photo editor program or invest in Photoshop Lightroom
Get a smart phone lens add on or an app that takes 360 degree shots
Get a light source that mounts to your phone
@ericeckardt
#8 OverApp | Add text to Photos
The integration of search, social, email, video and the Internet into your marketing plan is paramount for success.
Ideas that work: Social Mobile Video
#9 Consider High-Tech Marketing
@ericeckardt
#10 Selling Online at Hubzu
@ericeckardt
Conflicting Information
Social Media > 1 million REALTORS®
Online Reviews
Google SearchMultiple Site Searches
Don’t get Overwhelmed
89%
84%
FY2012FY2008
89% of buyers retained a REALTOR in 2012, up from 69% in 2001. It’s the same on the seller side, where only 9% sold a home without an agent, down from a high of 20% in 1987.
REALTOR® – Trusted Advisor
@ericeckardt
Q.
A.@ericeckardt
