invercargill 17 nov 2009
DESCRIPTION
Presentation to real estate agents in Invercargill on the impact the web is having on real estate and the many opportunities it opens up. Providing insight and services to the industry from the industry owned website of realestate.co.nzTRANSCRIPT
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How the internet is transforming real estate
Invercargill – November 2009
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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Well past the bottom into a boom??
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Property Prices – Comparison to UK
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Property Prices - rebounding
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Sales volumes still subdued – not a boom
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Access to accurate, timely and comprehensive data is
critical
Information is key – but property is not just an investment
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Sep Oct Nov Dec Jan
Conditional offer 21 Oct
Unconditional offer 16 Nov
Settlement 13 DecListed 27 Sep
Protracted release of property data
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New monthly report
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Southland new listings - staedy
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Supply – true inventory rising
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Property Prices – growth in price expectation
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Demand – web traffic as a surrogate of consumer confidence
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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Why you need to understand the web?
Today more than 1.2 billion people are online viewing over
1,000,000,000,000 web pages
Why?
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A transformation in 10 years
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Edging ever closer to 100% online search
National Association of Realtors Home Buyer Survey 2008
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The web is the first and only choice
Choice of media for real estate search in the past week – NZ 2009
9% 12%9%
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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“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
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The online search experience is evolving
Searching for property
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Clearer role for websites
Searching for propertybuy
Searching for someone to help me sell my property
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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3 years of growth – 27% per annum vs. market 17%
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Now delivering over 25,000 email enquiries per month
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Realestate.co.nz is the market leader for international visitors searching for NZ real estate...
+ 43% more traffic than trade me property
International visitor traffic to NZ real estate listings – Oct 2009
124,521124,521 87,27887,278 20,31120,311
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Realestate.co.nz – the most comprehensive
Trade Me residential property listings - 56,019 includes an
estimated 6,000 private listings
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25,0166,000 / week
25,0166,000 / week
3,6364,500 / week
3,6364,500 / week
7,8103,500 / week
7,8103,500 / week
43,107100,000 / week
43,107100,000 / week
10,50315,000 / week
10,50315,000 / week
16,4128,000 / week
16,4128,000 / week
7,16230,000 /
week
7,16230,000 /
week
Not one site – many audiences
112,000 listings – 168,000 sessions per week112,000 listings – 168,000 sessions per week
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What we are doing to help you
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New – market leading website
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Rich / easy browsing & searching
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Large images - easy to use
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Specialised site for commercial property
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Specialised site for business brokers
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Specialised site for farms
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Making it easy for offices
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Property information at your finger tips
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Providing information – 24hrs a day
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Every property has a web page – 1,528,453 properties
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Property Information
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Context of aerial images
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Community information – where to live
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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What are they looking for?
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Get the basics right – help buyers!
1. No limit on photos
2. Avoid abbreviations
3. No limit on words
4. Sell the benefits
5. Create emotional connections
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What not to do!!
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What not to do!!
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Email alerts – first impressions count!
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No substitute to comprehensive information
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Photos are so important!
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The web provides so much information... enough to replace an agent??
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Richer and richer information
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New functionality
• Search filter
• Email schedule
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How can you stand out from the masses?
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Featured listings
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Featured listings
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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
Call us 0800 732 536
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Some examples
3 bedroom Onerahi$500k
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Some examples
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Buyers - call to action
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1. Telephone
2. Website
3. Email
4. Open home
5. Office visit
Enquiry leads come in many forms
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How do you rate – responding to emails?
Response timing is improving – but 12% never respond!
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1. The marketplace – current state of the market
2. Trends in online real estate
3. Understanding buyer behaviour
4. Realestate.co.nz
5. Getting the basics right - listings
6. Your profile – your future!
The internet is transforming real estate
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How to use the web to build you profile and network?How?
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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
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?How to be found on Google!
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The power of links
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Online reputation is key
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Prediction:
• 90% of your sales will come from word of mouth or digital promotion by 2011.
• How do you change what you're doing today to be ready for that?
Online reputation is your future
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If you are not found on Google ......
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Part 1: Find yourself on Google
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Login / sign up / profile yourself
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Build your profile – free of charge
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Part 2 : Create a place on the web
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Part 3 : Drive traffic to that place
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Part 3 : Drive traffic to that place
www.twitter.com
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Part 3 : Drive traffic to that place
www.youtube.com
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Part 3 : Drive traffic to that place
www.linkedin.com
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Part 3 : Drive traffic to that place
www.facebook.com
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Part 3 : Drive traffic to that place
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Links build visibility..
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Be found when people are looking for you
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Blogs – hosted on realestate.co.nz
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Its time to embrace social media / marketing
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Build networks / referrals / credibility
1. Relevant
2. Authentic
3. Transparent
4. Committed
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Sell yourself!
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Promote yourself everyday to over 15,000 people a day
Just 3 agents per suburb
Oct / Nov
$15 / $75 / $150 per month
Online ordering and credit card transaction
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“Homebuyers & Agents have information overload.
Agents must create legitimate value-add services & become the trusted go-to person”
Stefan Swanepoel
Embrace the change and be recognised
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Enjoyed the presentation?
www.tinyurl.com/nzrealestatewww.tinyurl.com/nzrealestate
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Proudly supporting the real estate
industry
Proudly supporting the real estate
industry