How the internet is transforming real estate

Dunedin – November 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

Well past the bottom into a boom??

Property Prices – Comparison to UK

Property Prices - rebounding

Sales volumes still subdued – not a boom

Access to accurate, timely and comprehensive data is

critical

Information is key – but property is not just an investment

Sep Oct Nov Dec Jan

Conditional offer 21 Oct

Unconditional offer 16 Nov

Settlement 13 DecListed 27 Sep

Protracted release of property data

New monthly report

Otago 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

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 – Oct 2009

124,521124,521 87,27887,278 20,31120,311

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

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

What we are doing to help you

New – market leading website

Rich / easy browsing & searching

Large images - easy to use

Specialised site for commercial property

Specialised site for business brokers

Specialised site for farms

Making it easy for offices

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

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

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

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Proudly supporting the real estate

industry

Proudly supporting the real estate

industry