Realestock Blog

More and more real estate agents are investing in Customer Relationship Management software (CRM) because they’ve been told it will make their lives easier and increase their sales.  Adopting a CRM system isn’t a magical sell-more solution for realtors though.  There are no guarantees that it will make a business more productive and more profitable – the only guarantee is that it will cost money! According to research firm Meta Group Inc, 55% to 75% of CRM solutions fail to meet their initial objectives. If that initial objective is increasing sales for a realtor… then what customer relationships is that software actually managing?

That said, as many real estate agents will tell you, a successful CRM system is an incredible tool for them – allowing them more time, more flexibility and more automation in their day to day tasks.  So, the decision – should you take the customer relationship management plunge –  is not an easy one.  Only you can determine, based on your personal needs if a system will be a boon, or just a money wasting bust.

However, to ease the decision making process, we’ve done some research and put together a short quiz. Give yourself 2 points for a yes, 1 for a maybe and zero points for a no – then tally up your scores and see how you did.

Scores:

0–4: While many real estate agents swear by customer relationship management software, you probably don’t need it.  Your business seems to run well the way it is, and there aren’t a lot of direct benefits to be gained for the cost of a real estate customer relationship management system.

5–8: You answered with a lot of maybes, and that’s where you are with CRM – maybe you need it, but maybe you don’t. There is room for improvement, but before adopting a potentially expensive solution, you may be able to use your existing system better.

9–12: What are you waiting for? You know what you need to do with your customer data to take your business to the next level – so go out there are do it! If you’re in this category, you would benefit from implementing CRM software. Start putting together a list of your requirements, and determining which solution is right for you. You won’t regret it!

Photo Credit: Lincoln Mondy. Flickr

Comment (0)

Any Realtor will tell you that Real Estate is a competitive industry – between competition from other agents, demands from clients, and the breakneck pace of technological updates to keep up on, it’s not surprising that some agents might be wistful for the simpler days when adding their listings to MLS, printing out some direct mail pamphlets and taking out a few advertisements in the local paper were their real estate sales tools. 
So how are successful agents marketing property now? How do you sell real estate today? It’s as simple as BYOB. No, not Bring Your Own… Beverage…
The new sales tools are all about setting up a Brand, using Yourself as a tool, getting your listings Online and setting up a Blog.

Brand
Chances are when you are thinking about a major purchase, you’ll gravitate to a brand that fits your needs. How do you know that a Honda is a better fit for you than a Hummer? Simple – if you’re looking for a car that’s reliable and fuel efficient, you know that Honda is a brand you associate with those qualities. If you already associate a brand with the things you’re looking for, you’ll turn to that brand when you want to buy.
Real estate is no different. A potential client is looking for an expert in the type of home they want to buy or sell. If someone is looking for to sell their high end downtown condo, they’re not going to start with a real estate agent that is primarily in the business of selling family bungalows.  Take what you know, and make it your brand. If you have a lot of interest in local history and architecture, brand yourself as a Historical Homes Expert, and use your knowledge to connect to people who want a heritage home. Drive sales using a unique brand as a real estate tool.

Yourself
If you feel that Twitter and Facebook are replacing ‘real’ interactions with people, you’re about half right. Yes, people are increasingly socializing online, but that doesn’t mean that they don’t want to actually socialize – quite the opposite. In the age when anyone can connect to anyone else, the best real estate sales tool you can have is… yourself! Engage your twitter followers, follow your local hashtag, attend things like ‘tweetups’ and actually become friends with the people you talk to online.  Put yourself out there as not only a real estate agent, but a friendly, local expert.

Online
Putting a listing onto MLS is now just one sales tool. Creating a website to showcase your listings, putting videos of house tours up on YouTube (way better than just a few photos), using location based listing services and specialty real estate websites can greatly increase the chances that a listing will be seen. There are numerous online real estate tools that can be used to market and sell real estate and not just to locals – buyers from other areas, and people looking for investment properties in other markets are likely to use online services to find properties. Getting online and getting exposed is the way to sell real estate.

Blog
When you want information on something, you probably hop online and Google it. Looking for a Realtor is no different. So how do you make sure your name, and your website comes up first? Blog, blog, blog! 

A blog demonstrates that you know about the local market, have good insights and are at the top of your game.  It also gives a search engine something to find you with. If you want to position yourself as the top seller of high end condos in Vancouver, start a blog – they’re one of the most powerful real estate sales tools.  If your blog has lots of posts about condos, apartments and downtown Vancouver living, it’s more likely to be picked up by search engines; therefore, when someone searches for “downtown Vancouver Condos Real Estate Agent” your blog will be one of the first to show up.

Comment (1)

7 Ways to use the iPad in Real Estate and 1 way to win an iPad for yourself!

Why do so many people lust after iPads? These “magical” little devices are in hot demand with good reason. Early-adopting realtors have been quick to jump on the iPad bandwagon, using it to enhance their open houses, presentations, and showings.  Want to know how?

Here are 7 ways to effectively use an iPad in real estate:

1. Use your iPad as an interactive signup sheet for open house visitors. Bonus: Don’t waste time later transcribing information into your CRM or contact management software.
2. Use Yelp or Google maps to quickly show buyers how close by great restaurants, schools, grocery stores or any other amenities are.
3. Set up a keynote presentation to play a virtual tour of a property, and email it to buyers who want more information after they’ve seen the open house.
4. Keep your client’s info at your fingers by accessing documents stored online.
5. Stop giving yourself eyestrain by looking at your iPhone to access MLS listings, emails and maps!
6. Flag the map locations of properties for clients and get immediate driving directions from each location.
7. Buyers not so interested in the open house, but like the area? Have PDFs of your other listings in the area easily accessible for them to browse on the iPad.

Sounds good, right? Well, the best way to see if something will work for you is to try it – and Realestock is giving away a free iPad to give you that chance!

How do you win? Just head on over to the Realestock Facebook page, and share your real estate social media success story, OR why you think an iPad would be great for your business. The most insightful or inspiring story will win – simple as that.

Contest closes June 4, 2010. Good Luck!

Comment (0)

Comment (0)

On April 28^th and 29^th, 2010 in New York City, CMAEON’s CEO and Founder, Tim Vasko will be speaking at the REMarTech (Real Estate Marketing & Technology Academy) event on online marketing, named ‘Is Social Media a Fad?’

The ReMarTech is a two-day conference with eighteen workshops, focusing on online listings and “virtual office websites”, lead generation, email and mobile marketing, online video and viral marketing, publicity and PR, the Facebook Marketplace and much more!

Tim will be leading two innovative workshops on Website Design-Web Portal Magic and Social Conversation Lead Generation. His workshop on website design focuses on how to create buyer relationships through web content tools, understanding connected media and how to drive buyers to your website and how to create a successful web presence strategy.

Tim’s workshop on lead generation will take participants on a journey to discover new ways to practice online lead generation. Topics that will be covered include: how to find, qualify and convert leads, how to become part of the natural social conversation and how to inspire word of mouth online.

Speaking from his experiences running CMAEON® and Realestock, Tim will address key issues in lead generation and website design facing today’s marketplace to help participants discover how to rank higher on Google and create updated content to engage and attract buyers.

Other speakers at the event include Ross Anderson, President/Owner of nylmedia and NewYorkLuxury.com, Sarah Bonert, Director of Broker Services, Zillow and Kelly Roark, VP of Interactive Sales and Development from HGTV/Scripps Network.

For more information on Tim’s workshops or to register for the event, please check out Real Estate Marketing and Technology Academy at http://greenpearlevents.com/remartech/.

Comment (0)

A few weeks ago, we posted an entry with 10 tips on what to include-and how you should take a great set of photos to showcase your property for sale.

While I was writing that particular blog post, I stumbled upon a website known as Lovely Listing.com. Their tagline is ‘Odd Finds in Real Estate’.

After taking a look at the website, I would say that it’s definitely ‘odd finds’ in real estate.There are features, items and issues that should never be showcased in photos to sell a home and yet, are taken by actual real estate agents and homeowners wanting to sell their properties.

As a tribute to Lovely Listing.com, here’s a list of the top 10 features you should never include in photos of your property.

1. Bathrooms with uncovered windows. Now, there may be prospective home buyers who desire to have natural light and air circulating through their bathrooms. That being said, I don’t think they would appreciate having an open window in their bathroom that faces the neighbors and allows them to share the intimacy.
2. Kitchens under renovation. Understandably, many homeowners want to renovate before putting their homes on the market to boost its value. But is it necessary to include a photo time line of every step of the renovation? Buyers want to see the finished product, not the process.
3. Bedrooms with lava-colored carpeting. Now, we understand that that particular carpet color was all the rage back in the 80s. Nowadays though, buyers are interested in modern and contemporary features and lava-colored carpeting just doesn’t cut it.
4. Guns hanging next to the kitchen window. Everyone has their own interests and we’re not discriminating against anyone. But, really, guns? What if the potential homebuyer has children? Not the safe haven we all imagined our dream home would be….
5. A family barbeque on the back patio. Homeowners have lives and the right to enjoy their homes with anyone they wish. But, personal photos of your family memories really have no business being in the real estate listing to sell your home. After all, people want to imagine their family having a meal in the backyard, not yours.
6. Mold in the basement. Common sense tells us to remove all harmful substances or debris from our homes for our family’s safety. Why would you want a picture of the evidence to end up in your listing?
7. House in a bubble. I understand the desire to be creative with your photos. Really I do, but how is putting your house in an actual bubble adding to the appeal? If anything, it does lend itself quite well to jokes about the current housing market.
8. Dark photos of people. I mentioned in the previous post about being careful in including people in your photos. It doesn’t help for a prospective buyer to imagine what their new home may look like with people breaking in.
9. Outhouses in the backyard. See my above comment about the lava carpet, it still stands for this.
10. Living rooms with couches on the ceiling. Remember what I wrote in the previous post about taking a lot of photos so you can fix what’s wrong in the room? This is exactly why you should do that.

Comment (0)

You might remember a blog post where we talked about the Top 10 Tips on Property Photos. We gave the best tips that we could find on how to take-and what to include-great property photos to help sell your listings.

After thinking about it, we realized that photos are not the only element that drives a buyer to a property. So why not expand on that list? Here are the top 10 tips on how to make your listings stand out from the competition (including the photos!)

1. Photos, photos and more photos. We won’t go into detail here, only to say that the higher quality of the photos, the more appealing it is. Refer to our post about property photos for more details.
2. Include special extras. As we said before, photos aren’t the only thing potential buyers are interested in. Think about including a floor plan, maps or photos of the neighborhood to show them where they’d be living.
3. Virtual tour or not? What about a virtual tour? They show more than what photos do and allow house hunters to ‘walk’ through the property and see it for themselves. Think about whether or not there are unique features in the home that you especially want to call attention to.
4. Sales pitch. The language you use in the listing helps as well. Use compelling sales language and make your description as in-depth as possible. Highlight the features, the area and lay it out logically. It has to be accurate right down the spelling and grammar. Consider writing an intro to the listing before getting down the sales pitch.
5. Add more information. Prospective buyers are hungry for as much information as you can give them. Describe the neighborhood, talk about how the home is animal-friendly, or list the price guide.
6. Aim for the top. Look for the premium option in advertising packages. It will help position your listings higher up on the totem pole and catch the eye of more buyers.
7. Take advantage of features. Grab everything you can on paid for positioning, audio, mapping, info sheets and neighborhood data. It’ll put you ahead of the pack in terms of a complete package for buyers.
8. Dare to be different. Does your listing merit a special open house or something else?
9. Stay ahead of the game. Do your research on competition and your market. Could you utilize more features on the portal?
10. Flaunt it. Tell everyone you know about the property. Email it, blog it, tweet it, facebook it, talk about it, make phone calls about it, link to it, whatever it takes.

And finally, make sure your listing is kept 100% up-to-date, and this includes saying when it’s been sold.

Comment (0)

As house hunters scour the listings for the property of their dreams, the next best thing to viewing the property themselves is a fantastic set of photos. Photos give potential buyers visuals on what features a property has and the layout. It is the very first impression that house hunters receive of a home and it can intrigue them as easily as it can turn them away from purchasing the property. After all, pictures are worth a thousand words and a beautiful set of photos go a long way to turning a house hunter into a buyer.

There are a few things to keep in mind in order to take great photos. Here’s a list of 10 tips on how to take amazing property photos.

1. Cover all of the essential features.  Make sure you give prospective buyers every angle and shot on the essential rooms and features inside the home. Rooms that are absolutely crucial to a property and shouldn’t be left out include the bedrooms, bathrooms, kitchen, living areas and the backyard if the property has one. Also, include special features such as fireplace or pool as these could be selling points for buyers.
2. More is best. Don’t be afraid to include as many photos as possible. A floor plan is also a great inclusion if it’s possible.
3. Watch for intruders. Is there something in the photos that shouldn’t be there? Take more than one shot of an area so you can see whether furniture is misplaced or items are in a room they shouldn’t be and fix it for the next photo.
4. Watch the weather. While it’s not something you can control, photos showing an overcast sky or dreary afternoon light should be avoided. You can work around this with different camera setting or Photoshop, of course, but it is best not to overdo it.
5. Don’t leave buyers hanging. Taking a picture of only one side of the room, even if it’s to focus on the best attributes can make potential buyers wary of what’s lying outside of the frame.
6. Work different angles. Taking different angles of the same area gives prospective buyers the sense of perspective. Avoid the temptation to take crooked angle shots or use the wide angle lens, however.
7. Be careful with the flash and mirrors. Remember to turn the flash off in rooms that have lights on or if you’re taking a photo that includes windows. Also avoid taking pictures of yourself in front of a mirror.
8. Give a sense of life in the home. De-cluttering is a great idea to allow house hunters the space to imagine living in the home, but don’t go too far. Bare rooms signify a lack of care in the home, but going out of your way to include obviously constructed scenes will only give buyers a sense of falseness.
9. Know your camera settings and your tripod. If you’re taking the photos yourself, you have to understand the aperture, shutter speed and ISO to make your photos work harder for you. Shooting interiors at a slower speed for instance, makes them look better. A garden can look better in shade, and in harsh sunlight you might want to use a flash. There are courses you can take to learn more about how to make your camera work for you.
10. If in doubt, see the pros. While it is more expensive to hire a professional photographer, it could be well worth the cost.

Comment (0)

Yesterday, I spoke about the first mistake any developer can make in project marketing and sales. As I said, I've seen a lot of developments stall or self-destruct at the hands of a developer who felt like he or she "knew it all." I told you about my friend the hotelier, who became a developer, then a travel "guru," then a marketing and sales "expert" capping off this illustrious and varied career with a stint as a financial products broker. His development is still just a patch of dirt.

Continuing in the same vein of "knowing it all," today I'll tell you what I've seen happen to developers who entrust their marketing efforts to brokers and sales people. Until recently, I've seen a lot of luxury brokerages trick developers into thinking that they were the total solution - a sales and marketing firm. I'll show you why sales and marketing under one roof make ineffective and wasteful bedfellows.

Mistake #2 - Hiring a Sales Agency and Branded Real Estate Broker to do a Marketers Job. In recent years, marketing real estate projects was more than just a lucrative enterprise for those who were doing the marketing - it was pure profit, plain and simple. There is a good reason for that - the best marketers got the job done.

When a luxury brokerage brand steps in and decides to become a marketing company they begin to over-leverage. Sure, they can leverage off their brand name for what seems like a quick win and surefire success, but this also means that they are leveraging off their core business. When brands experiment and begin to "know it all" (not unlike the hotelier I described yesterday), the Developer takes the hit. With a big name and a willingness to take an even bigger budget, I've watched developers dump literally millions of dollars of untraceable fancy print ads and ineffective web sites - all the while the brokers and agents who should have been motivated by selling the project, were lining their pockets with marketing dollars.

Marketing is a science - and a bit of an art. Marketing drives sales, sure, but as with any science or art (or both), this is something that is best left to experts, not amateurs (think about giving a High School Physics student the keys to the Hadron collider!). In my many years of working with the real estate industry, I've never once seen a brokerage bring in a graphic designer or copywriter to close the deal on a multimillion-dollar home; so why should the opposite make any more sense? The reason commissions exist is to get the sales team to work hard to close the sales, this is what they know and this is what they (should) do. The marketing team brings in the leads and brands the project; this is what they are paid to do. When both teams are working in their core capacity, the result is success. When the incentive model and expertise gets muddled - the result is millions spent, and a project bankrupt due to a wasted budget. I've seen this happen on a number of occasions.

Do yourself a favor. The next time a real estate brokerage says they can market your project, thank them for their enthusiasm, and offer them 2% more on the back end - so long as they carry the marketing load on the front end. Or spend your money wisely and get a marketing group and resources that brings in Quality, Quantity, and Qualified leads. Send the sales guys these leads so they can actually close the sale and earn their commission - the way they were supposed to get paid.

Comment (0)

2009 is nearly upon us – and some might say that this has not come a moment too soon. This year has been anything but dull, but at times we could have done with a little less drama. To ease you into 2009 (which many analysts fear may be as tumultuous as last year) here are some reminders of things that happened last year… which may make you glad that we are leaving it.

Top News Story of the Year: Financial Crisis

The only way that you might have missed out on this is if you were living in a cave, under a rock. Definitely the defining story of 2008: from bailouts to stimulus packages, from crashing mortgage rates to foreclosures, every day brought new and more terrifying stories. This was not a good year to have real estate and business news Google alerts sent directly to your email account – unless you enjoy receiving 15-20 pieces of bad news a day.

Top Real Estate Story of the Year: House prices tumbling, back to basics mortgages and foreclosures ahoy

Yep – it’s not good news. Most markets saw some reductions in sales, and prices dropping – whereas other markets saw massive drops and the inability to sell at all. This, and the shrinking economy lead to an increase in foreclosed properties – which has meant many people have lost their homes this year. The consequence of this is that many banks and other lending institutions have become more prudent and restricted their lending policies. You can still get a mortgage, but you’ll need to have a good deposit, a steady income, and a good to stellar credit score.

Top Slightly-Less-Depressing Real Estate Story of the Year: First Time Buyer Alert

2008 was a good year for first time buyers to get in on the action. Providing you could get a mortgage, this was a great year to invest in real estate. This can only get better for first time buyers as 2009 continues, as prices will be dropping further. So when your 35-year old son says he still needs to live in your basement for free because “house prices are too expensive” feel free to chuck him and his ever growing laundry pile out in January.

Top ‘Most innovative ways to sell your house’ Stories of the year

My top three?

1) Can’t sell your house? Why not raffle it off? Sounds insane? That’s because it is. But desperate times call for desperate measures. In October, the Globe and Mail talked about homeowners who have narrowly avoided foreclosure, and made money. However, it’s not easy: some states/provinces will not legally let you raffle your house.

2) Buy the house, get the car free! In November, the National Post reported that a seller who couldn’t sell their East York home at a lowered price was offering potential buyers a free vehicle – worth $15,000. As of posting time – no news on whether it sold.

3) Find a buyer? Get $100,000. At the beginning of December, David Bangert and Linda Harris of Kailua, Hawaii REALLY wanted to sell two million dollar pieces of property. So they offered a reward for $100,000. If you could find someone who wanted to buy their houses, and more importantly, were funded to buy them, you could get up to $100,000 as a reward. Again – no news as to whether they sold or not.

Top ‘Good News Story for us: Most homebuyers are now looking on the Internet for their new home

According to the 2007 National Association of Realtors Profile of Home Buyers and Sellers, 84 percent of buyers use the Internet to search for a new home, and this is a trend that has continued through 2008, and will continue into 2009. The Chicago Tribune, in its Eight Real Estate Trends for 2009 article, have predicted that as more buyers go online, more realtors will want to post their information online – which is great for sites like Realestock, who offer easy ways to upload properties on to our site – for free – to millions of eyes!

So happy new year, and let’s hope 2009 is a good one! We’ll be blogging in the New Year, and also releasing our new monthly newsletter – the Realestock Report. We wish you the very best for a prosperous 2009!

The views expressed on the blog portion of this site represent only the opinions of the author and may not necessarily be the opinions of Realestock.com

Comment (0)