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Presentation to real estate salespeople in Auckland 12/ 13 / 14 October on the web and it's critical role in transforming the real estate industry in NZ.
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How the internet is transforming real estate
Auckland – October 2009
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
New monthly report
Auckland new listings - recovering
Supply – true inventory more balanced
Property Prices – growth in price expectation
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...
+ 43% more traffic than trade me property
International visitor traffic to NZ real estate listings – Sep 2009
121,759121,759 85,12385,123 20,20220,202
Realestate.co.nz – the most comprehensive
Trade Me residential property listings - 56,019 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 you
New – market leading website
Rich / easy browsing & searching
Large images - easy to use
Specialised site for commercial & business
Specialised site for farms
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
How do you rate – responding to emails?
Response timing is improving – but 12% never respond!
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 key
If you are not found on Google ......
Part 1: Find yourself on Google
Login / sign up / profile yourself
Build your profile – free of charge
Part 2 : Create a place on the web
Part 3 : Drive traffic to that place
Part 3 : Drive traffic to that place
www.twitter.com
Part 3 : Drive traffic to that place
www.youtube.com
Part 3 : Drive traffic to that place
www.linkedin.com
Part 3 : Drive traffic to that place
www.facebook.com
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
“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?
www.tinyurl.com/nzrealestatewww.tinyurl.com/nzrealestate
Proudly supporting the real estate
industry
Proudly supporting the real estate
industry