Online Real Estate Technology

I thought it was time I opened up this blog to a few of my friends and colleagues in the real estate industry and one that I’ve had the pleasure to work with over the years is probably the leading expert on real estate advertising worldwide, Ian Grace.

Ian has presented his training course all over the world and is one of the very few Australians to have spoken at the NAR conference in the US, there is not much that Ian does not know about creating great real estate advertising, so as part of this series, I’ve asked Ian to put together his top 10 tips for writing great real estate ads, I hope you get benefit from Ian’s advice.

The Top Ten Tips for Writing Great Real Estate Ads

HOODOO – a great word to help you to remember the two things that make advertising effective:- WHO – is the person who will see the most value in the property and therefore pay the highest price [that's target marketing]. DO – now show them and tell them, what they will be able to DO as a direct result of their purchase.

2. HEADLINES – remember the WHO when you write your headline, then qualify it quickly, so the reader knows you’re both on the same wavelength. Then ideally, reinforce or remind about the headline at the end of the ad. The headline must include one or more of the following:- 1. A benefit or implied benefit 2. Something that is new, news or topical 3. A curiosity element without gimmicks for gimmicks sake.

3. PHOTOS – make sure your main photo matches and works together with your headline [not the other way around] and that the other photos also match the body text.

4. PEOPLE – put people and/or pets in your photos – it’s a great way to show people what they will be able to DO when they live there.

5. NAMES – use names in your ads to personalise them – yours [in full] and even the sellers’.

6. DIFFERENT ADS – the use of different ads for different markets, enables you to talk to each prospect group about what is relevant to them only e.g. one ad aimed at first home buyers and one ad aimed specifically at investors.

7. MEDIA MATCH – make sure your press ads match with other media and vice versa, with particular reference to the main photo and headline.

8. KEEP THE SAME AD RUNNING – once you’ve written a great ad, run it at least four times if not more, as research shows people need to see the same ad or message three times or more, on average, before they will respond

9. PRICE, LOCATION, NUMBER OF BEDROOMS – if all the research done shows conclusively that these are the top three pieces of information potential buyers require, then common sense says – give it to them!

10.   OBTAIN SELLER ADVERTISING DOLLARS – research proves that the higher the seller paid advertising percentage, the higher the listing to selling success rate.

11. BONUS TIP – TEST YOUR ADS – Firstly, sellers must see the ads before they run, but most importantly, ensure at least one of your colleagues checks your ads to confirm every word and phrase will make sense to the market it is written for. Secondly, when buyers who have responded to the ads view the property, ask them if the property has matched their expectations from your ads – the feedback will be terrific and will keep your advertising right on track.

If you’d like to contact Ian you can visit his web site Ian Grace Marketing

Having just gone through the process of buying and selling our family home, I could relate to this video. The real estate agent who handled both of our transactions did not fall into this category but I had to laugh when I watched it, so please enjoy it before it gets removed.

Last week during a webinar that I participated in with Michael Sheargold and the Real Estate Results Network, I suggested that every real estate office should create a digital media strategy that covers at least the next 12 months. Technology is changing so rapidly for real estate agents and without a plan or strategy in place you’ll find it very hard to keep up. I’ve had some agents talk to me about what should be in this digital strategy, so to help you lets go through the basics of what you should include in your document.

1. Web site SEO – First and foremost in my mind is having your web site search engine friendly. Local search queries continue to increase as does 3+ word keyword searches.

Yellow Pages book usage is decreasing and Internet searches increasing, so that makes it vital that your site appears on the first page of Google. You need to also consider how your site performs, Google are planning to use site speed as a ranking factor and therefore how quickly your site loads will be a consideration. Image heavy sites without alt tags and optimising your pages for relevant keywords needs to be considered.

During the webinar, one industry specialist wrote a comment ” Do you really think that principals or agents actually write their own copy?”  No I don’t, but they need to make sure that what is written on their behalf is search engine optimised and written for the web, not copied from a newspaper. Make sure that you get access to the coding on your site as well, you pay for it, you own it, not like I have encountered recently with one web company attached to the number one real estate portal, they have a very arrogant attitude to you the customer, so if in doubt walk away, there are plenty of web design companies that will help you.

Search Engine Marketing should not replace your web site SEO, use SEM wisely and don’t double up, if you’re on the first page or rank highly for a search term, don’t waste money on Adwords,use them in areas that you don’t rank, remember, Google ranks pages not web sites so you can effectively optimise each page on your web site for keywords.

2.Social Media – Include this into your 12 month plan, small business is lagging behind their big brothers in using and integrating social media into their business. Your customers have embraced social networking and it is becoming the trusted adviser, so you can’t afford to neglect it any longer.

One of the reasons slowing the integration is a lack of knowledge about social media by small business owners, in my mind you are better to try and work with social media than to ignore it, so jump in and have a go. Plan it slowly and use the major sites such as Facebook and Twitter to start with, you can use this as your guide, POST. This stands for:

• People – What is your target market?

• Objective – What do you want to achieve from using social media?

• Strategy – How will you go about communicating with your customers? Status Updates, Coupons, Discounts etc

• Technology - What are the main sites you’ll use to communicate your message? Facebook/Twitter

That at least will help you plan your strategy, also remember, Podcasting, Vlogging and YouTube are powerful tools in getting your message across, plus Google loves video, so use this to your advantage

3. Blogs – Create a blog and add it to your web presence, it allows you to add the personal touch to your on line marketing. ComScore’s research indicates that blogs reach over 48% of the online population in the Asia Pacific region, social media 56.1%.

Blogs are a great way to communicate with your customers and are a great customer service tool, remember though you need to make sure that your content is fresh and relevant to the target market you are aiming at. Google loves blogs because of the constantly updated information they provide and will index them very quickly as well as give them a high ranking, sometimes even over a higher authority site. Wordpress provides a great platform for you to use and I’d recommend the self hosted option as you can use your own domain name and you have much more flexibility.

4. Internet Marketing – Make sure that you have your office details listed with Google business, use different keywords or categories so that you rank on different search pages in your area. Be very selfish with where your links go, you might think its great that your business comes up number one under a realestate.com.au listing in your area, but think where the customer goes when they click on the link, to you? no they go to the portal so make sure your web site ranks on that first page.

Audit your listing on the portals and start to implement good keywords in your copy, remember you’re writing for the web not a newspaper, so think about how people search and what keywords they use. Get those from your own office, you have a wealth of information at your disposal, so ask your staff what words or phrases consumers use when  they contact your office, find the most frequently used and start to weave those into your articles or listing copy.

Don’t leave out of your listing valuable information, Google uses a completeness filter on Google real estate, so the more information in your listing the higher the rank, makes sense really doesn’t it.  

5. Technology – Make sure you stay informed on technology that impacts on how your customers find you, Augmented Reality and QR codes are examples, be aware of the impact they are having and factor these into your strategy.

I hope that helps you in planning for the next 12 months, having this in place is a good start in improving the way you market and communicate with the online consumer, it also improves your businesses “Future Fitness”  for digital marketing.

That post headline is sure to get some interest given the ongoing saga between Rupert Murdock and Google, in my previous post we looked at Rupert’s threat to stop Google getting access to news and information from News Ltd sites.

Well hot on the heals of that story comes another twist with Microsoft and News in discussions to remove content from Google, given that Google is the main driver of traffic to these News Ltd sites, what would be the impact of any decision from Rupert to stop Google indexing content, and with other newspaper and media companies considering joining Rupert and News Ltd in this action it’s going to be a very interesting story to watch unfold.

Here’s the story from Mashable:

Newspapers and traditional media have seen their world and their business models crumble before their very eyes. Newspaper revenues have plummeted by nearly 30% in the last year alone, while newspaper circulation numbers are in the toilet. The web is destroying outdated business models and replacing them with more efficient ones.

These newspaper and media companies aren’t just letting themselves get destroyed, though. Some have gone web-only, some are embracing social media, and then some are blaming Google.

When we first heard that Rupert Murdoch intended to remove News Corp websites from Google, we weren’t impressed. We didn’t understand his plan, but we did believe that it wouldn’t work.

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Then This Google Thing Got Out of Hand

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That was, until we learned that Microsoft and News Corp are in discussions to remove content from Google and that most recently, other newspapers and media companies are considering joining Murdoch’s insanity.

Let’s think about this: in a few months, the Wall Street Journal, the New York Post, and most of the 56 daily newspapers of MediaNews Group could be de-indexed from Google and Google News(and in News Corp’s case, displayed prominently on Bing).

Experian Hitwise explored yesterday what would happen if this plan comes to fruition. As the following graph demonstrates, Google alone accounts for 20+ percent of newspaper traffic:

Some of that traffic would remain intact (we really doubt Murdoch would remove the homepage of the Wall Street Journal from Google, thus searches for the WSJ in general would remain unaffected), but overall it’d be a devastating traffic blow. Google is still the main method of information discovery online, and that trend will only grow as more kids turn to Google instead of the $0.75 daily.

In short: Rupert’s plan will gut his company and doesn’t set News Corp up for the future.

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Rupert, We Understand Your Dilemma

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Let’s give News Corp some leeway and a little credit though: they know that the old business models are dying and that they have to do something. Even back in August, we stated that good journalism isn’t cheap and that we have to find a better way to compensate media organizations for their work. Here is what we said about his plan to put his websites behind a paywall, with key points bolded:

“Murdoch has essentially declared that the free-for-all in online news has ended. Specifically, he states that good journalism isn’t cheap (that’s true) and that, while the web has made distribution cheap, it has not made it free. He also hopes to gain more revenue from major celebrity scoops from his tabloid papers (i.e. the Sun). His bet is that people will indeed pay for news content.:

The next paragraph explains our arguments, though:

“We’re not so sure. While we don’t disagree with the need to find additional revenue streams for newspapers and quality journalism, we think there are plenty of alternative news resources to turn to. Murdoch must see something encouraging at the WSJ, because he wouldn’t be going with this plan if he didn’t think they could replicate that model without losing significant readership.”

Sorry Rupert, but newspapers aren’t going to increase anytime soon and up-and-coming blogs and media companies aren’t going away. Maybe we were wrong about you seeing something in the WSJ model. Maybe you just don’t understand how media has been fundamentally altered by the web.

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This Isn’t the Future of Media, Murdoch

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We’ve had enough. Murdoch’s plan to de-index from Google is getting out of control, and it threatens to speed up the destruction of all traditional media. If other newspapers decide to join this insanity, here’s what will happen: more efficient organizations will step in to fill the gaps. There is no shortage of lean and socially savvy media organizations built in the last five years.

The future of media isn’t in The Wall Street Journal, no matter how much value it provides society. No, the future is in the web, fast-paced blogs, and social media. The future is in companies that realize that news a day old is, well, a day old. The future is in information discovery, not in hiding content.

We know your empire is not doing so well, Murdoch, but that doesn’t excuse you from taking your company down a path that will take you into oblivion. No Microsoft deal will fix the inherent problems with the newspaper business model.

What News Corp should be doing instead: Finding more efficient means of distribution, leveraging its revenue-generating assets, exploring new methods of payments, and encouraging innovation. We’re not psychics or high-profile consultants, but we know which models are winning and which ones are not.

In short, Murdoch, take your ball and go home. Your plan can only hurt News Corp.

Writer Ben Parr

I’ve had a couple of agents send me emails this week inquiring about QR Codes, so I thought I’d write this post to explain what they are and how you can use them in your real estate business.

QR stands for “Quick Response”, and they are the next generation of bar codes. They have been in Japan for awhile with the Japanese going absolutely crazy over them and they are just starting now to appear in this country.

So what do they do?

• They contain lots of information such as your web site address

• They can be read upside down and faster than a standard bar code

• You can get a QR reader for your phone or iPhone – as long as it can browse the web.

• They can be scanned from a computer screen,a newspaper or flyer, magazine and Property billboard or Listing signboard.

So how does it apply to real estate, by generating a code, which is a simple process, you can apply the bar code to your listing sign board,your advertising including print and magazine or flyers, and people can simply scan the code and your phone will take you directly to the web site that the code has embedded.The code is scanned by taking a photo of the code and the phone then opens up a browser which takes you directly to the URL in the code.

This is a great tool if you want to specify a web site or property for First Home buyers or Retirees etc, as the code will take your reader directly to the URL you have specified. You can create your QR code to send people to a web site URL, a telephone number,an SMS message or text message.

Here’s a code I created, which when read will send you directly to my web site at www.mikeandrewconsulting.com, although I could have scanned any URL and sent you there if I wanted to promote a product or service.

You can add these to your business cards as well, which is a great promotional tool for your agency. You can download a QR reader from iTunes if you have an iPhone and some of the Nokia phones have the reader as standard.

To generate the bar code is a really simple process as all you do is search on the web and you’ll find a site, in fact to make it easy for you here’s the link to one I used.

Good luck and have fun with this, it’s a great promotional tool and you can add it anywhere.

If you’d like to have more information on this or are not technical enough to add it to your marketing, send me a comment or email at info@mikeandrewconsulting.com and I’ll help you out as always.

Twitter is the flavour of the year and a lot of you will be starting to use Twitter for the first time, and using it correctly to not only build your following but to get your followers to go where you want them to and to get buy in from them is not easy,even though there’s lot of people using the micro blogging service, you still need to have a plan to get the most out of the site. For those of you who have been using Twitter for awhile, this article will also help you get more response for all your efforts.

To be successful using Twitter you need to offer value to those following you, and you need to create what I call the “Trusted Adviser” role for yourself, once you have created this role and others see your expertise on a subject, they will follow you to get information and advice, but first you need to work very hard to create this persona.

Creating your Tweet plan and then following the strategy you have set up for yourself, will help you keep your plan on track. Just posting tweets about your product or listing is not engaging your followers nor is it creating value, it is just plain boring.

Setting out to become a trusted adviser means you need to listen,respond and broadcast and build your community, that’s what your followers are, your community, and you need to offer value in what you do to get engagement from them.

Creating your topic list is a good place to start, define your area of expertise and start to build that trust.

Some of the topics you could include if you are just starting out would be:

1. Your Expertise

2. What are your passions

3. Stats in your market – Good for those in real estate

4. Share your interests

5. Tweet what you are doing

6. Updates on your listings – real estate again

7. Share links and helpful information

So now you’ve worked on your list of topics, it’s time to create your tweet plan:

1. Make a list of topics

2. Identify your resources – sites to turn to, to get information

3. Schedule drips – spread your tweets out throughout the day

4. Be spontaneous

5. Follow other twitters of like minded interests and retweet information

Once you have your tweet plan worked out, you then need to set up your Twitter profile:

1. Create you Twitter background and personalise your profile

2. Complete your profile – serious followers always check out your profile before a follow.

3. Use monitoring and measuring tools to check your tweets – Use URL shorteners such as Bit.ly/Cli.gs/Hootsuite

4. Add video to your tweets by using Bubbletweet.com

5. Use Tweetlater.com to add an auto welcome  message for new followers

I hope that you find the above information helpful, particularly if you are just starting out with Twitter, and by using the tools I’ve suggested, it will give you the basics to start building your following and help you create the trusted adviser role.

Some helpful Twitter tools you can use to start building your Tweet plan:

1. Tweetdeck.com

2. Topify.com – Uses email notification for new followers

3. Hootsuite.com

4. Tweetlater.com

5. Tweetmeme.com – Search and retweet the hottest stories on Twitter.

Now to final the tip for you, using social media sites as farm areas can generate new sources of leads for you, particularly as you can tap into the conversations taking place right then and there. A great site for you to use is www.demandspot.com, it is a real time lead generation tool for real estate agents that taps into the conversations on Twitter, you enter the suburb or state into the site and it will give you the details of all conversations taking place about real estate in your selected suburb including contact information, you can then join in the conversation.

One word of warning though, please be careful how you use this tool, ramming your listings or services at them will not make you friends, the best way to engage these people, is to create the handshake and enter the conversation quietly.

Good luck.   

Earlier this week I was a presenter at a training session in Sydney run by one of the major real estate franchise groups, and my topic for the session was “How to Market More Effectively Using On Line Technology” , or in other wards, how to write better copy to be found on the search engines such as Google and Bing.

The first part of the day focused on writing for print, and the presentation really was quite good, it focused on writing clean copy with no clutter and writing catchy headlines and avoiding cliche’s.

A lot of time and effort went in to focusing on the print side, how to submit your editorial, when was the best time to do so, what style of writing does the editor like etc, and then, when looking at the end result, which had been written up on a white board, I thought about how those headlines or keywords would research on the web. A lot of agents simply copy and paste their print copy onto the web, with no consideration of keywords, search phrases etc.

You really have no idea whether your copy or headline will have any impact on the property searcher unless you have a clear understanding of how they search on the web, what phrases do they use, what are the trigger words or keywords they search for, these are all the questions you need to answer before you submit your copy to the web.

It’s even more important today, with Google’s real estate section now publishing listings, because anything that is published on the web, will be indexed by search engines, so make sure you start to optimise your copy with keywords or phrases that target your market, if you don’t, you’ll end up not showing on the search results, or being missed by your buyers, and whilst those headlines look OK in print, they may not work on the web.

With 9 out of 10 property searchers starting their property search on the web, how much time are you going to spend on your research to get it right. So lets give you a few ideas on where to start: A really good place to start your research is in your own office and for a refresher please read my earlier post “Choosing the right Keywords for your Content”

The post I’ve highlighted will give you some really good ideas on keyword research, so next time you sit down and start brainstorming ideas for your headlines and listing copy, give some thought on how your buyer searches on the web and what phrases or words they use, if you do that you’ll have a head start on getting your property found on the web.

If you’re a real estate agent or small business owner just getting into a social media strategy, or already using social media networks such as Facebook and you haven’t yet created a Facebook brand page, then go and create one right now. They are an excellent way of promoting your brand not only to others on Facebook, but also promoting your brand or product via Facebook adds.

If you are considering using Facebook adds or any form of on line advertising then it’s important to understand the searching and viewing habits of the audience you’re trying to impact. Social media sites are changing the way we search on line, and as marketers, relying on this information and understanding where and how your audience views or searches for information on social media sites is vital.

So which are the best days to run your adds or banners, and which days generate the best click thru rates for advertisers? Some new research out today helps shed some light on this and I’ve detailed some of the results for you.

Content posted on Facebook based brand pages has a higher than average click thru rate on a Tuesday, the average click thru rate on Tuesday is 9.89%, the highest of any day. Wednesday follows closely behind with click rates of 9.87%.

Friday and Saturday had the lowest click rates with a very measly 2.67% on Friday and 2.7% on Saturdays. If you  take all the days into account, click thrus for Facebook brand pages average 6.76%. This average is lower than Sunday, Monday, Tuesday and Wednesday, but still much higher than average CTRs for display advertising across social networks in general, including Facebook itself.

So really what this research means, is that certain days of the week are better for launching a product promotion, and by really understanding how consumers use social media sites, you and your company can start to target where you’ll get the best return on your investment.

In a nut shell, you really need to have a well thought out communication strategy for updating your Facebook brand page, and an understanding of when to create promotions to get optimum response.

Response to your marketing on social media sites is better early in the week then dwindles and picks up again on Sundays.

What I’ll cover for you in the next post on this subject, are results of the latest eye tracking study on social media pages, where are users eyes focused when viewing these pages and how does it differ from other web page viewing.

This has an impact when you’re deciding to use advertising on social sites such as Facebook etc, does your target market actually look at the adds? I’m sure you’ll find that an interesting read.

About the data:The sample data reported is compiled from nearly 200 million fans impressions on Facebook pages over a five-month period (March – August 2009).

As a follow up to my post yesterday about Twitter and the possibility that the honeymoon might be over, I thought I’d share with you new research from TNS Global about why people use Twitter, It’s a nice follow up to my post yesterday, so here are the findings:

41.6% percent of Internet users who used Twitter did so to keep in touch with their friends.

In addition, 29.1% used it to update their status, 25.8% to find news and stay updated, 21.7% for work purposes and 9.4% for research.

Men and women both used Twitter primarily to keep in touch with friends. Secondarily, men were interested in finding news and women in updating their status.

Users under age 35 were more interested in broadcasting their status than their senior counterparts. Older users were more likely to use the service for work-related purposes.

The average Twitter user interacted primarily with friends and family.

Next-most-popular were celebrities, bloggers, TV shows, co-workers, brands and journalists.

More women interacted with friends, family and celebrities than men, but men were more likely to follow bloggers.

Older users trailed younger ones in interaction with every Twitter user type except journalists and brands.

Who can Twitter users blame for their addiction? One-half of tweeters said a friend or family member introduced them to the site and 33% were hooked by a co-worker.

So there you have it, and if you’d like to follow Mike Andrew on Twitter then click on the link as follows www.twitter.com/mikeandrewre

I don’t know about you, but I’m a little over the Twitter fad, I haven’t yet found it a successful advertising or promotion medium and it pails into insignificance when you compare it to Stumbleupon for promotion of blog posts and actually driving readers to your blog or web site.

There are those that will say it works really well for them, but in the last few months I’ve been tracking all the referrers of traffic to this blog and Twitter does not even rate, so either there are a lot of passive followers or as new research indicates very few advertisers think it an effective promotion tool. The survey carried out last month by linkedin Research network/Harris Polls found out of advertisers surveyed only 8% thought it effective.

The study also found that advertisers are more likely than consumers to know about Twitter and are more likely to believe in the microblogging tool’s future power to help promote products and services.

The research, which included surveys of both advertisers and the US public at large, revealed that just less than half of advertisers (45%) think Twitter is in its infancy and its use will grow significantly over the next few years. In contrast, 21% believe Twitter will not move into the mainstream and it will remain something mostly young people and the media will use.

Among consumers, the study found a different picture, especially in terms of awareness. A large majority (69%) say they do not know enough about Twitter to have an opinion about it, 12% think it’s in its infancy, 12% say it is just something that young people and the media use and 8% say it is already over.

Effectiveness of Twitter

Among those who have an opinion about Twitter, feelings about the effectiveness of it for promoting products and ideas are lukewarm among both consumers and advertisers:

Among advertisers, just 8% say Twitter is very effective for promoting products and ideas while half (50%) say it is somewhat effective. One-third (34%) of advertisers say it is not that effective and 8% believe it is not at all effective for promoting products and ideas.

Only 8% of consumers say Twitter is very effective for promoting ideas and products and 42% believe it is just somewhat effective. Three in ten (31%) consumers say Twitter is not that effective and 19% feel it is not at all effective for promoting products and ideas.

I’d be interested in your thoughts on this survey either from a Twitter user or follower, just leave me a comment.