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How the internet is transforming real estate
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Realestate.co.nz - Northland Sep 09

May 09, 2015

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Real Estate

Alistair Helm

Presentation to real estate professionals in the Northland region - Wed 23 / Thu 24 Sep 2009
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Page 1: Realestate.co.nz - Northland Sep 09

How the internet is transforming real estate

Page 2: Realestate.co.nz - Northland Sep 09

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

Page 3: Realestate.co.nz - Northland Sep 09

Boom or Bust – everyone has an opinion

Page 4: Realestate.co.nz - Northland Sep 09

Property Prices – Comparison to UK

Page 5: Realestate.co.nz - Northland Sep 09

Property Prices - rebounding

Page 6: Realestate.co.nz - Northland Sep 09

Sales volumes still subdued

Page 7: Realestate.co.nz - Northland Sep 09

Access to accurate, timely and comprehensive data is

critical

Information is key – but property is not just an investment

Page 8: Realestate.co.nz - Northland Sep 09

Aug Sep Oct Nov Dec

Conditional offer 21 Sep

Unconditional offer 16 Oct

Settlement 13 NovListed 27 Aug

Protracted release of property data

Page 9: Realestate.co.nz - Northland Sep 09

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

Page 10: Realestate.co.nz - Northland Sep 09

New monthly report

Page 11: Realestate.co.nz - Northland Sep 09

Supply – inventory building

Page 12: Realestate.co.nz - Northland Sep 09

Northland new listings - slow

Page 13: Realestate.co.nz - Northland Sep 09

Supply – true inventory more balanced

Page 14: Realestate.co.nz - Northland Sep 09

Property Prices - no inflated expectations in asking price

Page 15: Realestate.co.nz - Northland Sep 09

Local market showing some expectation of price increase

Page 16: Realestate.co.nz - Northland Sep 09

Demand – web traffic as a surrogate of consumer confidence

Page 17: Realestate.co.nz - Northland Sep 09

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

Page 18: Realestate.co.nz - Northland Sep 09

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?

Page 19: Realestate.co.nz - Northland Sep 09

A transformation in 10 years

Page 20: Realestate.co.nz - Northland Sep 09

Edging ever closer to 100% online search

National Association of Realtors Home Buyer Survey 2008

Page 21: Realestate.co.nz - Northland Sep 09

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%

Page 22: Realestate.co.nz - Northland Sep 09

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

Page 23: Realestate.co.nz - Northland Sep 09

“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

Page 24: Realestate.co.nz - Northland Sep 09

The online search experience is evolving

Searching for property

Page 25: Realestate.co.nz - Northland Sep 09

Clearer role for websites

Searching for propertybuy

Searching for someone to help me sell my property

Page 26: Realestate.co.nz - Northland Sep 09

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

Page 27: Realestate.co.nz - Northland Sep 09

3 years of growth – 27% per annum vs. market 17%

Page 28: Realestate.co.nz - Northland Sep 09

Now delivering over 25,000 email enquiries per month

Page 29: Realestate.co.nz - Northland Sep 09

Realestate.co.nz is the market leader for international visitors searching for NZ real estate...

Page 30: Realestate.co.nz - Northland Sep 09

Realestate.co.nz – the most comprehensive

Trade Me residential property listings - 49,373 includes an

estimated 6,000 private listings

Page 31: Realestate.co.nz - Northland Sep 09

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

Page 32: Realestate.co.nz - Northland Sep 09

What we are doing to help youWhat?

Page 33: Realestate.co.nz - Northland Sep 09

Property information at your finger tips

Page 34: Realestate.co.nz - Northland Sep 09

Providing information – 24hrs a day

Page 35: Realestate.co.nz - Northland Sep 09

Every property has a web page – 1,528,453 properties

Page 36: Realestate.co.nz - Northland Sep 09

Property Information

Page 37: Realestate.co.nz - Northland Sep 09

Context of aerial images

Page 38: Realestate.co.nz - Northland Sep 09

Community information – where to live

Page 39: Realestate.co.nz - Northland Sep 09

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

Page 40: Realestate.co.nz - Northland Sep 09

What are they looking for?

Page 41: Realestate.co.nz - Northland Sep 09

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

Page 42: Realestate.co.nz - Northland Sep 09

What not to do!!

Page 43: Realestate.co.nz - Northland Sep 09

What not to do!!

Page 44: Realestate.co.nz - Northland Sep 09

Email alerts – first impressions count!

Page 45: Realestate.co.nz - Northland Sep 09

No substitute to comprehensive information

Page 46: Realestate.co.nz - Northland Sep 09

Photos are so important!

Page 47: Realestate.co.nz - Northland Sep 09

The web provides so much information... enough to replace an agent??

Page 48: Realestate.co.nz - Northland Sep 09

Richer and richer information

Page 49: Realestate.co.nz - Northland Sep 09

New functionality

• Search filter

• Email schedule

Page 50: Realestate.co.nz - Northland Sep 09

How can you stand out from the masses?

Page 51: Realestate.co.nz - Northland Sep 09

Featured listings

Page 52: Realestate.co.nz - Northland Sep 09

Featured listings

Page 53: Realestate.co.nz - Northland Sep 09

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

Page 54: Realestate.co.nz - Northland Sep 09

Some examples

3 bedroom Onerahi$500k

Page 55: Realestate.co.nz - Northland Sep 09

Some examples

Page 56: Realestate.co.nz - Northland Sep 09

Buyers - call to action

Page 57: Realestate.co.nz - Northland Sep 09

1. Telephone

2. Website

3. Email

4. Open home

5. Office visit

Enquiry leads come in many forms

Page 58: Realestate.co.nz - Northland Sep 09

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?

Page 59: Realestate.co.nz - Northland Sep 09

How do you rate – responding to emails?

Response timing is improving – but 12% never respond!

Page 60: Realestate.co.nz - Northland Sep 09

• 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

Page 61: Realestate.co.nz - Northland Sep 09

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

Page 62: Realestate.co.nz - Northland Sep 09

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

Page 63: Realestate.co.nz - Northland Sep 09

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

Page 64: Realestate.co.nz - Northland Sep 09

How to use the web to build you profile and network?How?

Page 65: Realestate.co.nz - Northland Sep 09
Page 66: Realestate.co.nz - Northland Sep 09

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

Page 67: Realestate.co.nz - Northland Sep 09

?How to be found on Google!

Page 68: Realestate.co.nz - Northland Sep 09

The power of links

Page 69: Realestate.co.nz - Northland Sep 09

Online reputation is keyHow?

Page 70: Realestate.co.nz - Northland Sep 09

If you are not found on Google ......How?

Page 71: Realestate.co.nz - Northland Sep 09

Part 1: Find yourself on Google

Page 72: Realestate.co.nz - Northland Sep 09

Login / sign up / profile yourself

Page 73: Realestate.co.nz - Northland Sep 09

Have a profile online

Page 74: Realestate.co.nz - Northland Sep 09

Part 2 : Create a place on the web

Page 75: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 76: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 77: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 78: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 79: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 80: Realestate.co.nz - Northland Sep 09

Part 3 : Drive traffic to that place

Page 81: Realestate.co.nz - Northland Sep 09

Links build visibility..

Page 82: Realestate.co.nz - Northland Sep 09

Be found when people are looking for you

Page 83: Realestate.co.nz - Northland Sep 09

Blogs – hosted on realestate.co.nz

Page 84: Realestate.co.nz - Northland Sep 09

Its time to embrace social media / marketing

Page 85: Realestate.co.nz - Northland Sep 09

Build networks / referrals / credibility

1. Relevant

2. Authentic

3. Transparent

4. Committed

Page 86: Realestate.co.nz - Northland Sep 09

Sell yourself!

Page 87: Realestate.co.nz - Northland Sep 09

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

Page 88: Realestate.co.nz - Northland Sep 09

New enhanced reporting

Page 89: Realestate.co.nz - Northland Sep 09

“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

Page 90: Realestate.co.nz - Northland Sep 09

Enjoyed the presentation?

www.tinyurl.com/nzrealestatewww.tinyurl.com/nzrealestate

Page 91: Realestate.co.nz - Northland Sep 09

Proudly supporting the real estate

industry

Proudly supporting the real estate

industry