The changing face of real estate

Realestate.co.nz

• Industry owned website

• Most comprehensive website for real

estate in NZ

• Significant competitor – Fairfax

owned Trade Me

• “Content is king” model holds true!

Consistent growth – outperforming the market

Real Estate Industry

• The marketplace

• Online real estate

• Changing face of real estate

• Google and its impact on real

estate

• $30 billion industry

• $1 billion in commissions

• 11,500 salespeople

Real Estate Industry

The great housing crash !!??

Beware of media hype!

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

54,000

63,000

Putting sales volumes into perspective

Strong start to 2009

Supply and demand in the local market

Understanding and interpreting information

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

Over 1,000,000 visitor sessions per week through February & March up 22%

Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites

Up to the minute activity in the market - emails

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?

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Real Estate Industry

• The marketplace

• Online real estate

• Changing face of real estate

• Google and its impact on real

estate

What drives real estate?

immigrationEmployment

House prices

Affordability

Mortgage rates

deposits

Consumer confidence

Building consentsGDP

Getting inside the minds of buyers??

6 weeks of researching

2½ hours per week on specialist real estate websites

55%

Real transformation of real estate

Reputation Management

Selling opportunity online

• Competitive arena

• Grab the attention of homeowners

Blogs – hosted on realestate.co.nz

Online engagement in real estate

Stay informed / stay connected

alistairnz