How the internet is transforming real estate
May 09, 2015
How the internet is transforming real estate
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
Boom or Bust – everyone has an opinion
Property Prices – Comparison to UK
Property Prices - rebounding
Sales volumes still subdued
Access to accurate, timely and comprehensive data is
critical
Information is key – but property is not just an investment
Aug Sep Oct Nov Dec
Conditional offer 21 Sep
Unconditional offer 16 Oct
Settlement 13 NovListed 27 Aug
Protracted release of property data
TurnoverTurnover ValueValue PacePace DemandDemand SupplySupply
Better informed decisions based on richer information
Sales PriceSales PriceProperty sales
Property sales
ValuationsValuations
Days on the market
Days on the market
InventoryWeeks of
sale
InventoryWeeks of
sale
New listingsNew listings
Website traffic
Website traffic
Lead generation
Lead generation
Asking priceAsking price
New monthly report
Supply – inventory building
Northland new listings - slow
Supply – true inventory more balanced
Property Prices - no inflated expectations in asking price
Local market showing some expectation of price increase
Demand – web traffic as a surrogate of consumer confidence
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
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?
A transformation in 10 years
Edging ever closer to 100% online search
National Association of Realtors Home Buyer Survey 2008
The web is the first and only choice
Choice of media for real estate search in the past week – NZ 2009
Why?
9% 12%9%
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
“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
The online search experience is evolving
Searching for property
Clearer role for websites
Searching for propertybuy
Searching for someone to help me sell my property
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
3 years of growth – 27% per annum vs. market 17%
Now delivering over 25,000 email enquiries per month
Realestate.co.nz is the market leader for international visitors searching for NZ real estate...
Realestate.co.nz – the most comprehensive
Trade Me residential property listings - 49,373 includes an
estimated 6,000 private listings
25,0166,000 / week
25,0166,000 / week
3,6364,500 / week
3,6364,500 / week
7,8103,500 / week
7,8103,500 / week
41,107100,000 / week
41,107100,000 / week
10,10315,000 / week
10,10315,000 / week
17,4128,000 / week
17,4128,000 / week
7,16230,000 /
week
7,16230,000 /
week
Not one site – many audiences
108,000 listings – 168,000 sessions per week108,000 listings – 168,000 sessions per week
What we are doing to help youWhat?
Property information at your finger tips
Providing information – 24hrs a day
Every property has a web page – 1,528,453 properties
Property Information
Context of aerial images
Community information – where to live
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
What are they looking for?
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
What not to do!!
What not to do!!
Email alerts – first impressions count!
No substitute to comprehensive information
Photos are so important!
The web provides so much information... enough to replace an agent??
Richer and richer information
New functionality
• Search filter
• Email schedule
How can you stand out from the masses?
Featured listings
Featured listings
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
Some examples
3 bedroom Onerahi$500k
Some examples
Buyers - call to action
1. Telephone
2. Website
3. Email
4. Open home
5. Office visit
Enquiry leads come in many forms
Handling enquiries
• Enquiries from buyers – when they have a question
• Only when they have exhausted their searching
• Responsiveness is critical
• How do you rate your performance?
How do you rate – responding to emails?
Response timing is improving – but 12% never respond!
• Make sure you receive them!
– Check your email address
– Avoid gmail / xtra / webmail
• Respond as soon as practicable
– Use technology / or support teams
• Carefully consider your responses
Emails
1. Treat every email as a prospective buyer
2. Don’t be pushy – don’t demand a contact number
3. Answer their question
4. Treat the enquirer as a very early enquirer “I appreciate you may be at an early stage of looking for a property”
Emails – etiquette
The advice works!...
thanks for your email.
yes you are right. we have just started looking for a house in Parnell. Was looking more into Remuera, Greenlane, and Epsom. Didn't look into Parnell as I heard about how land in Parnell is leasehold. Not too sure where the line start and end.
Anyway, target area is for a Grammer zoned area. As we got a little girl that is close to 3 years old.
we prefer not to have any body corp. As we are not too sure if we want the hassle. I know some people prefers it.
Anyway, thanks
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
How to use the web to build you profile and network?How?
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
?How to be found on Google!
The power of links
Online reputation is keyHow?
If you are not found on Google ......How?
Part 1: Find yourself on Google
Login / sign up / profile yourself
Have a profile online
Part 2 : Create a place on the web
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
Links build visibility..
Be found when people are looking for you
Blogs – hosted on realestate.co.nz
Its time to embrace social media / marketing
Build networks / referrals / credibility
1. Relevant
2. Authentic
3. Transparent
4. Committed
Sell yourself!
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
New enhanced reporting
“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
Enjoyed the presentation?
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Proudly supporting the real estate
industry
Proudly supporting the real estate
industry