Take Your Real Estate Marketing Online

A lot of Realtors consider themselves to be “Old Skool” (yes that’s school with a k). I’ve had many Realtors express concerns about the effectiveness of online lead generation.  The question they ask is, “Can we compete in our market without implementing an online or web 2.0 campaign?”

Of course it’s “Possible”. However, as you continue the practices that you’re used to, you can be sure that your competitors are venturing in areas that you are not. As I’ve mentioned in earlier post, most people searching for a new property start by searching online. Here are two statistics for you to think about when considering taking your marketing campaign online.

  • According to the National Association of Realtors (NAR), 90% of home buyers searched online during their home buying process. Real estate-related searches on Google.com have grown 253%  over the past four years.
  • NAR studies show that 52% of buyers turn to the Web as their first step in the home buying process.

So what does this information tell us? It tells us that almost all home buyers went online at some point in their home buying process, and over half did so before they even turned to a broker. The majority of people buying homes today spend time searching, learning and taking information online before they even think about speaking with a broker.  This alone is enough to consider expanding your marketing efforts online.

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A New Social Real Estate Platform

A while back I got wind of a new Real Estate Social Media app that was considerably different from the others.  So, I decided to check it out and I must say it’s pretty good.  It’s called DreamPro and it makes communicating with Buyers and Sellers very easy.  It provides a clean sleek way of presenting properties to clients by sending them an E-Postcard.  When agents come across an image or property that they feel a client might like, they can use the DreamCards, a feature of the DreamPro app, to write text over the full-screen image and send it to clients.  They can send these through email, phone number, or any client that the agent has registered on the application.  The app will send messages to prospects that have already signed up on DreamPro’s sister app DreamHouse (for Buyers).  This makes it easier for the agent to manage “mobile farms” — the community of consumers they’ve signed up on the DreamCommerce system (the database).  All in all, it’s a simple app that can have a huge effect your efficiency and the satisfaction of your clients.  A satisfied client generates more leads, so it’s worth trying out. Happy Hunting!

Real Estate Tech Trends : Part – II

Last month I gave you guys a list of trends relating to technology and how buyers and sellers use it to find a their agents. So today I’m gonna give you a few more statistics for you to use in your daily hustle and bustle.

Why Buyers choose their Agent:

24% Say they chose a Buyer who is honest and trustworthy.

21% Say they chose a Buyer based on their reputation.

15% Say they used an agent that was a friend or family member.

12% Say they chose an agent based on their knowledge of the neighbor.

9% Say they chose an agent because they thought the agent had a caring personality.

6% Say they chose the agent because they received a timely response.

5% Say it was the Prestige of the firm.

4% other.

Expected Response time <VS> Actual Response Time:

SELLERS:

77% of seller expect a response from their agent within 30 minutes of an inquiry.

45% of sellers expect an instant reply from their agents after an inquiry.

Only 24% of Agents respond to sellers within 30 minutes of initial contact.

BUYERS:

88% of buyers expect a reply within 1 hour of inquiry.

42% of buyers expect to be contacted instantly.

Only 30% of Agents respond to Buyers within 1 hour of inquiry. 

Response Time importance:

6% of buyers say response time is somewhat important when selecting their agents.

94% of buyers say that response time is Very Important when selecting their agents.

All Say that Response Time was important.

Repeat Business:

74% of buyers say that they would definitely use an agent that was recommended to them by others.

15% of buyers say that would probably use an agent recommended by others.

5% of buyers say that they would probably not use an agent recommended by others.

4% of buyers say that they would definitely not use an agent recommended by others.

2% of buyers said they don’t know.

Only 10% of buyers actually used agents they had previously used.

This is only Part II of Real Estate and Tech Trends. Part III will be coming soon and focuses on how Buyers & Sellers use and respond to both new and traditional marketing tactics!

Real Estate Tech Trends – At A Glimpse

Anyone in the real estate industry knows that technology is completely revamping how the business is conducted. So with that being said, I thought This week I would give you guys and gals a few fun facts about Real Estate Tech Trends. All facts are from 2012 so you can assume that all statistics have increased if only a little bit.

VIEWING THE PROPERTY 

84% of buyers say Photo’s are the most useful when looking at a property.

34% prefer Virtual tours.

21% prefer Videos.

WHERE BUYERS COME FROM

42% of buyers found the home they purchased on the internet.

34% of buyers found the home they purchased from an Agent.

10% of buyer found the home they purchased from a yard sign.

6% from a friend

5% from the builder

1% seller

WHAT BUYERS WANT FROM REAL ESTATE PROFESSIONAL

50% of buyers say they want a real estate professional to help them find the right home.

12% say they want a real estate professional to help them negotiate terms while another 12% want help negotiating price.

8% what help determining what comparable homes were sold for.

7% want help with paperwork.

When the California Association of Realtors asked buyers and sellers where they found their real estate professional, the numbers for Internet increased dramatically. In California the numbers look like this:

70% of buyers and 75% sellers found their agent online.

60% of people Googled their Agent.

74% of sellers used “SOCIAL MEDIA”!!!

LISTING SYNDICATION (breakdown of Top Referring websites)

48% referrals come from Craigslist

31% come from Facebook

7% from Realtor.com

6% from Zillow and another 6% from Trulia

Your best bet as a realtor is to have all your bases covered, Happy Hunting! MORE DATA TO COME.

The Value of Pairing a Video with your Property Listing is Priceless!

As we all know Real Estate is an industry that gives the power to the individual. Sure there are huge companies like Realtor.com, MLS.com, Zillow etc. that have thrown money at having the most listings and data but none of them actually SELL the property. The Realtor is the deciding factor in that arena. To paraphrase some of my earlier post, the advance of technology has literally put the power in the realtors hands. This power (technology) actually gives the realtor an advantage over a lot of these huge realty companies and today I’m going to point out a very simple but very powerful tool available to everyone. VIDEO! I saw a realtor do something that I thought was brilliant at an open house that I recently had. She asked me if I was ok with her taking a video for her client. Naturally, I said “Sure”. It’s what she did after taking the video of the house that caught my attention. She proceeded the record the neighborhood, and the traffic of a near by intersection. That’s when I realized that SHE WAS A GENIUS !

Video is something that just about everyone has access to through their computers and/or their smart phones. Much like a photograph, video can convey a sense of personality and intimacy. These traits are what make video such a powerful tool to the realtor. With a video you now have the ability to capture things that a huge company cannot. With tap of a button you can send your client a realistic view of the condition of the neighborhood, the neighbors (that’s always important), traffic, schools, construction(if any), condition of home, etc. The uses are endless. This creates a deeper level of trust between you and your client, something that is sure to be conveyed when recommending you to a friend. Current Technology not only allows you to share the video instantly but it allows you to stream live if needed.

Video is a crucial addition to realtors who want to take their business to the next level. Going the extra mile to create a quality video could not only be the deciding factor in your sale, but it could also be the deciding factor in the potential for future listings. So before posting your next listing think about using video to do something “outside the box”.