According to a research published the the NAR (National Assiciation of Realtors) for 2009, most Realtors have a web site for presenting their own listings (63%). Actually most of them had sites active for more than 5 years (57%) and the percentage of Realtors using Web for promoting their business is growing. Yet only 3% of their business actually is coming from their online presence, how comes?
Managing their web site and social media presence can be overwhelming for Realtors and real estate investors if they don't have the right strategies and tools.
Lot of effort and in some cases also a substantial investment of time an money and so little results? It turns out that the majority of contacts with prospects and customers still happen through e-mail or text messages and the phone, but the site is recognized by many as an essential part of their business and yet it is not performing well at all.
It turns out that there is a major shift going on in the culture of a typical real estate buyer and of the typical investor, and Realtors, at the same time, need to keep up with it. It isn’t all about the merit of the individual property anymore, but it becomes more and more a relationship issue.
When we look at the figures, we see that the Realtors that fare better, much better, are those which have been in the business longer (at least 16 years) and who get a substantial amount of their business from past customers and from referrals. But even they can improve their performance particularly in terms of time spent to cultivate those referrals.
So how can a new investor or Realtor coming on the scene shorten the “learning curve” and start getting referrals and customers without working almost full time for just about 8,000 dollars a year? That’s how much a regular Realtor grosses during his first two years in business and it is no wonder that half of those who join the profession for the first time plan to leave it soon.
The problem here boils down to how you use the site and what kind of information you put in there. Of course listings are important, but I doubt a customer would need to go to an individual Realtor’s site to view the listings. You have Realtor.com, Zillow.com and a host of other sites where you can get comparisons and and again it very seldom happens that the agent actually sells the property he is listing: it is usually sold by some other Realtor who brings in the buyer.
So why use the site just for the listings, when we already know this isn’t something customers are looking for and it isn’t what is selling anyway. Indeed lot of effort is put by Realtors in social media activities as well, but again there is no set pattern of presence, a little integration strategy and very little work on personal branding.
If I were to be giving a listing to a Realtor I would like to know what he would do for me to facilitate the sale. If I were planning to purchase an investment property, maybe from a distance or even from abroad, I would expect my Relator to be competent and trustworthy.
The lack of personal branding is even more dangerous for new Realtors who don’t have past clients voicing for them and that cannot bring to the table a substantial amount of transactions, of experience and accreditations.
So again there is a huge space of improvement possible in the field of real estate, both for investors and Realtors looking for buyers and sellers. It is a matter of integrating and finding out what’s working and testing it as they move along. The current statistics tell us that it is definitely not working: only 3% of transactions are coming from the web. It is a clear indication that change is needed and the sooner the better.
Roberto Mazzoni
Tags: "real estate investment", "real estate", "Realtor", "Roberto Mazzoni", Internet Marketing for Realtors, selling real estate on the Web, social media for Realtors
RT @robertomazzoni: Most Realtors have a web site but make only 3% of their business from it http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: There is a major shift going on in the culture of a typical real estate buyer and of the investor http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: There is a major shift going on in the culture of a typical real estate buyer and of the investor http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Realtors need to catch up with a proper use of their site. Why show listings when nobody wants them? http://bit.ly/e …
RT @robertomazzoni: Realtors need to catch up with a proper use of their site. Why show listings when nobody wants them? http://bit.ly/e …
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Most business for Realtors still comes from traditional sources despite their efforts in building a web site http:// …
@robertomazzoni I disagree! If the website is placed where it can be found, search mktg is an amazing tool for realtors!
RT @robertomazzoni: Most Realtors have a web site but make only 3% of their business from it http://www.robertomazzoni.com/internet-m...
@robertomazzoni DJ WOODROW LOW starring in ART of the DJ NOW on http://www.ElectronicMusicCafe.com HOUSE MUSIC All Nite Long!…
RT @robertomazzoni: There is a major shift going on in the culture of a typical real estate buyer and of the investor http://www.robertomazzoni.com/internet-m...
@robertomazzoni Interesting – sadly, that may be a better percentage than most small businesses.
@robertomazzoni good article! I have been changing my thinking on this.
RT @robertomazzoni: There is a major shift going on in the culture of a typical real estate buyer and of the investor http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
@robertomazzoni i make less than 3% from my blog! Hell!!
@robertomazzoni Interesting article. Of course it’s lacking in solutions for those realtors. ie. What WOULD be good for their sites to have?
The biggest problem is the overwhelm, and I will say it in playing English, if you are not outsourcing you are running on flat tires.
There is also a method to the madness, and it’s to outsource with a company with expertise in the area
@robertomazzoni Very interesting! As an International company we feel our .ca site is helpful to give our clients the exposure they deserve.
@robertomazzoni Why show listings when nobody wants them? // make them inviting warm and friendly draw the viewer in! I got nuttin 2do:)
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
RT @robertomazzoni: Realtors web sites don’t plainly work, why? http://www.robertomazzoni.com/internet-m...
@robertomazzoni can’t it be short? http://ashmax.com
RT @robertomazzoni: Most business for Realtors still comes from traditional sources despite their efforts in building a web site http:// …
RT @robertomazzoni: Most business for Realtors still comes from traditional sources despite their efforts in building a web site http:// …
@robertomazzoni I suppose it will be like that for a while still. People are still learning how to use the internet
@robertomazzoni just finished this real estate/ neighborhood website for @lynnesplinter http:http://www.cabbagetownchronicles.com. Your opinion?
RT @robertomazzoni: Most business for Realtors still comes from traditional sources despite their efforts in building a web site http:// …
@robertomazzoni Couldn’t agree more.I felt like I knew more when we listed our home with an agent.
@robertomazzoni Robert, that would be what is going on WITH EVERYONE… the SHIFT is here ….ready or not.
@robertomazzoni
@robertomazzoni we find most “good buyers” come from good listings….