Leveraging technology for real estate

Leveraging Technology to Improve Your

Real Estate Business

Tony Arko – Market Advantage Real Estate

1

Chairman of Technology Committee – Dulles Area Association of REALTORS

INFORMATION SOURCES USED IN HOME SEARCH

Inte

rnet

Agen

t

Yard

Sig

n

Open

House

Newsp

aper

Mag

azin

e

Build

er TV

Billb

oard

Relo

Compa

ny0

102030405060708090

% Home Buyers

THE NEED FOR SPEED

Instantly

>30 Minutes

In 1 Hour

in 2 Hours

in 4 Hours

Same Day

1 Buisness Day

>1 Buisness Day

0% 5% 10% 15% 20% 25%

25%

20%

2%

3%

15%

19%

16%

0%

On-Line Prospect Response Expectations

In-ter-net38%

REALTOR33%

Yard Sign14%

Home Builder

6%

Friend / Relative

5%Knew Seller

2%

Home Book1%

Print Media1%

How Consumer Found Home They Purchased

GIVE’EM WHAT THEY WANT

Fastest Response

Most Qualified

Most Prepared

Seemed Responsive

Most Knowledgable

Lowest Commission

0% 10% 20% 30% 40% 50% 60%

57%

56%

49%

37%

23%

10%

RE 1.0 Technology

Widely Accepted Uses of Technology◦Cell Phone◦Email◦Static Website◦Fax◦Lockboxes◦Photos◦MLS, Listing Sites◦Customer Relationship Management (CRM)

RE 1.0 Tools

Email

Static Websites

MLS and Listing Sites

RE 1.0 Technology

Emerging Technology◦E Fax◦Electronic Signatures◦Video◦Single Property Websites◦Listing Aggregators◦IDX Solutions◦ZipForms

Emerging Technology

Single Property Websites

www.Listhub.netListing Aggregator

www.Postlets.com

Web 2.0The Brave New World

RE 2.0 - Marketing

Strategy◦Creation of Identity◦Creation of Association◦Agent Created Content and Dialog◦Consumer Indication of Interest◦Conversion to Off-line Relationship

Creation of Identity

Who You Are◦About Pages◦Google Search Results◦Linked In Profile◦Facebook Profile◦Twitter Profile

Google Search Results

LinkedIn Profile

Facebook Profile

Creation of Association

Ways to Associate◦ Facebook Friends◦ Twitter Followers◦ Flickr Photo Album Sharing◦ Social Bookmarking◦ RSS Feeds◦ YouTube Video Channels

Facebook Friends/Groups

Twitter

Flickr

Social Bookmarking

RSS Feeds

YouTube

Agent Created Dialog and Content

Your Voice◦Comment on Blogs◦Update Facebook ◦Tweet on Twitter◦Answer Questions on Trulia Voices◦Write a Blog

Consumer Indicated Interest

They’re Listening◦Ask to be Friends on Facebook◦Follow on Twitter◦Subscribe to your Blog◦Comment on your Blog

Cultivating On-Line Client Relationships

___________________________

Conversion to Off Line Relationship

Web 2.0 Tools

Internet Rules I◦All internet advertisement is under the direct

supervision of the Broker◦ Instant messages are exempt so long as

previous disclosures have been made◦Chat Rooms – Disclosure must be made in

every instant that business services, recommendations or solicitations are made

Internet Rules II

◦Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.

◦Cannot show listings “For Sale” if they are under contract or sold.

◦NAR Rule – “REALTOR” cannot be used with any adjectives

Wordpress BlogThe Ultimate Web 2.0 Tool

Wordpress Real Estate Blog

Built In Web 2.0 Features◦Blogging◦Video◦Featured Listings◦Search with IDX solution◦Forms for Lead Capture ◦SEO◦RSS◦Email Subscription◦Links to Twitter, Facebook, LinkedIn Profiles◦Advertising