Realtor® Technology 101

Matthew Rathbun, BrokerMatthew Rathbun, Broker

Matthew Rathbun Consulting © 2007 1

ABR, ABRM, ASR, CSP, e-PRO, GRI, GREEN, QSC, RECS, SRS, SRESABR, ABRM, ASR, CSP, e-PRO, GRI, GREEN, QSC, RECS, SRS, SRES

Source: 2008 NAR Profile of Buyer and Sellers

What Are They Looking What Are They Looking For?For?

45% of Leads will turn into a sale for someone

Only 10% will become a sale in 90 Days

22-25% will convert to a sale in 180 days

The average on-line buyer needs to be incubated for six months to a year.

The older the Lead the less competition.

What you need vs. What you wantCost Plan / BudgetConsumer ReportsOn-Line Community SupportProfessional AssistanceWhat is Valuable vs. Convenient Professional Opinion vs. Frustrated

Users

_________________________________________________

It’s a tool to provide better service

It’s a Lead Generator

Advertisement Necessity

We only use 10% of our available software on our PCs

Don’t assume they prefer e-mailGet a face to face meeting as

soon as possibleMeet with Client when getting

Documents SignedRemember technology is a tool

and not a replacement for YOU!Be PatientUse the PHONE

NAR Statistics (2007) On-Line Consumers◦34% are between 25-34 years of age◦65% are Married◦17% are Single Females◦8% are Single Males◦Median income is $70,700 per year

Buyers First Learned of homes by:◦Realtor 40% of the Time◦Internet 20% of the Time

Easily DazzledInformation HungryUsually between 23 and 44 years oldWant Constant InteractionTypically not very loyalEasy to get information toWant Tech Savvy Agent

Get the Client’s InformationMake DisclosuresSend just enough information…Call and Introduce yourself and

ServicesArrange MeetingContinue Communicating via

Client’s Preference

Must have legitimate return e-mail address

Clear and Conspicuous notice of the recipients opportunity to “opt-out”

Clear and Conspicuous notice of Solicitation

E-mail is to be used for:◦Responses to Inquires◦Contact Clients and firms involved in

a transaction◦Remain in contact with former client◦Promote Property Listings

Agents name and licensed status must be disclosed on all solicitations or business related pages and e-mails.

Brokerage Name, address and phone number must appear on all webpages in the first viewable section.

Both must disclose all the locations in which they hold a license.

All internet advertisement is under the direct supervision of the Broker.

Instant messages are exempt so long as previous disclosures have been made.

Chat Rooms – Disclosure must be made in ever instant that business services, recommendations or solicitations is to be made.

Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.

Cannot show listings “For Sale” if they are under contract or sold.

NAR Rule – “REALTOR” cannot be used with any adjectives

GoogleGoogle

Facebook DemographicsFacebook Demographics170% Growth in 35-45 year olds in

past yearAverage age of a user is 32Majority are College GraduatesLargest increase of users are those

over 55 in the past year175 million active usersAverage users have 120 friends18 million update dailyOver 3 Billion minutes spent on

Facebook daily◦ Source: http://www.facebook.com/press/info.php?statistics

Market InformationLimited Personal InformationNo Degrading CommentsAvoid Extended MenusEmotional Triggers

Using Bad Photos as a Marketing Tool?

www.WikiMLS.com

www.LowesRealtorBenefits.cwww.LowesRealtorBenefits.comom

www.RealBird.comwww.RealBird.com

www.postlets.comwww.postlets.com

SkypeSkype Twitter

CarolineVABlog.comCarolineVABlog.com

www.jott.comwww.jott.com

www.Picnik.comwww.Picnik.com

www.Realtor.org/Library

www.Realtor.org/Research