Archive for October, 2008

Google Releases Google Earth Application for the Iphone

“The world just got a little smaller” that’s how the official media release from Google opens, Google Earth now available for download to your Ipod Touch or Iphone. By downloading and adding this to your Iphone you’ll be able to search for local businesses and using the MyLocation feature you’ll be able to zoom in on your exact location in the world. Here’s the link to the release for further study http://google-latlong.blogspot.com/2008/10/google-earth-now-available-for-iphone.html

So how will this affect real estate searches in the future?  Being able to find information on the local area is very valuable to property searchers, information on schools,employment,suburb data etc is very valauble and now with Google releasing the Google Earth application for the Iphone it all has gone mobile. There’s an interesting post on using Google Earth in a real estate application and if you’re interested in reading more about this, click on the link.

http://blog.unionstreetmedia.com/technology/4-ways-to-use-google-earth-for-the-iphone-for-real-estate-internet-marketing/ 

As always let me know your comments

tt twitter micro3 Google Releases Google Earth Application for the Iphone

On Line Video Doubles as a Result of Broadband

As a follow up piece to my post yesterday regarding the power of real estate videos, ABI research have found during some new research that the number of people watching on line video through a browser has doubled in the past year growing from 32% a year ago to 63% today. This has been driven by the amount of rich content available in ad-supported format on portals and via social networks, along withincreasing demand from people for video in both short-and long-form on line content.

“Consumers are changing their on line habits quickly,” says research director Michael Wolf. “Broadband speeds have continued to increase at the same time that Hollywood has decided on line distribution is a legitimate monetization opportunity that will increase total return on their video assets, and expand audiences.”

When asked if they watched long-form content in the form of TV shows or movies on line, close to half of those under 25, and 53 percent of those 25-29 said they do so once a month or more.

Older viewers are much more likely to have experimented once with on line shows. Seventy-five percent of those over 65 who watch on line video said they have never watched TV shows or movies on line.

“Today’s younger consumers are developing habits that will mean drastic changes for the video entertainment market,” said Wolf. “Many consume a large percentage or even a majority of theirvideo entertainment through on line distribution today, and we believe that this trend will continue to accelerate as more efforts are made to put this content on various non-PC screens.”

So armed with those type of growth results, it’s not hard to see that video will soon be demanded by the property searcher who requires a more intimate view of the property and even for the agent themselves.

Little point to remember, over 33% of users of the real estate portals in Australia say they are looking to list their property with a real estate agent they find on line, so why not use video to boost your profile on line?  

Source: http://www.abiresearch.com/home.jsp

tt twitter micro3 On Line Video Doubles as a Result of Broadband

Research on the Power of Real Estate Videos

You’ll hear me sprouting about this subject and I’m quite passionate about agents embracing video, see this earlier post: Using Video in Your Real Estate Marketing as an example of this. I’m passionate about agents using video to promote listings, their profile and their offices and as I’ve mentioned before, this is portable content, so you can take a simple video and share it with the world. When you create an account with Youtube for instance, you create a channel, and you can post videos here to share with consumers. Using video in your listing presentation to promote how you market your clients property is also powerful marketing. I receive in my letter box, at least 5 pieces of marketing material each week and all go in my bin, but how about dropping a office profile on DVD in my letter box?, now that would be a point of difference, more importantly share this with me on your own web site.

All of this is of course leading somewhere, and here it is, research now coming out of the US on the growth of video is staggering, so if you ever needed more incentive to start adding video to your listing tools and properties then this is it!!

For example: 134 Million people went on line to watch on average, 81 videos each, from a total of 11 Billion viewed. In figures released from comScore:

  • 71% of the total U.S. Internet audience viewed online video
  • The average online viewer watched 228 minutes of video
  • 18-34 year olds were the heaviest viewers watching 287 minutes each
  • 82.1 million viewers watched 4.1 billion videos on YouTube
    • 49.8 videos per viewer
  • 46 million viewers watched 481 million videos on MySpace
    • 10.4 videos per viewer
  • The average online video duration was 2.8 minutes

Youtube ranked the highest with 98% of all videos viewed on line.

With these types of numbers starting to impact the habits of consumers, it won’t be long before this starts to impact us here in Australia. So my question to you is, why wait, start to implement this as a strategy for your office and take advantage of what is just around the corner. If you are not sure how to do this and would like some help, then just send me a comment and I’ll answer any question you have on getting this up and running in your business.

Also check out my earlier post about video increasing the perceived property value Property Videos Increase Percieved Property Value  and you can download my podcast on this topic here : http://mikeandrew.podomatic.com/

tt twitter micro3 Research on the Power of Real Estate Videos

The Domain.com.au Power Breakfast In Bundaberg Qld

Don’t forget, this Wednesday 29th October the location for the 3rd in the series of Power Breakfasts will take place in Bundaberg at the Spinnaker Restaurant starting at 7am. I’ll be presenting a futuristic view of Internet marketing and how real estate agents can leverage the power of blogs and podcasts and why real estate offices should have a 2 year strategy in place to take advantage of these new mediums. Plus I’ll take you through the impact of video and social media sites such as Facebook and Youtube and how you can use these sites to raise your profile on the net.

I’ll also take you through search engine marketing and why this is should be an important part of your office strategy. If you would like to attend and you are in the Bundaberg area please contact David Foki Domain.com.au State Manager on 0458 220 091

tt twitter micro3 The Domain.com.au Power Breakfast In Bundaberg Qld

Domain.com.au & Ebay Join In Content Distribution Deal

In a partnership designed to continue to grow Domain.com.au’s impact on Australian real estate searchers, they have announced a content distribution deal with ebay.com.au and the launch of a new real estate site on ebay. Here’s a link to the new page http://ebay.domain.com.au/

The new site will be linked from the home page of ebay and give domain.com.au access to ebay’s 5.4 million unique visitors per month.

What this means is that anyone who clicks on the real estate link on ebay.com.au will see the listings from agents advertising on domain.com.au presented on a co-branded site.

Lets hope this gives realestate.com.au a run for their money and shake the arrogance this company has for it’s agents and consumers. The industry needs a strong competitor, who will help keep pricing at manageable levels and push technology innovations which sadly have been neglected over the past few years.

tt twitter micro3 Domain.com.au & Ebay Join In Content Distribution Deal

On Line Reputation Management – How To Set Up Google Alerts For Your Business

I’ve spent a lot of time talking to real estate businesses about the need to monitor the web, with the growth of public forum sites and social network sites in Australia and on the web, there are lots of opportunites for disgruntled consumers to write about you or your business. Refer to my earlier post about the impact of social media on word of mouth as a refresher, and what I call the “Silent Business Killer”.

Property management is one of the most popular targets for consumers and so is the integrity of real estate agents, so you need to be aware of what is being written and published, because it stays there longer than a press article does and is searchable by your prospects. You don’t want these comments being found about you or your business on the front page of Google.

During my discussions and presentations I suggest, you set up Google alerts for your name, business and area of operation,so that you are able to monitor what is being written or posted about you and others in the area. It’s very simple to do and will give you a wealth of information on your market and what is happening daily in your area. I have one set up for my blog and it is amazing where my name and blog turn up, and my only internet presence is this blog.

So here’s how you start: Go to Google.com.au and set up an account, heres the link to get you started: https://www.google.com/accounts/NewAccount, Complete the information and you’re on your way.

On the right hand side of the accounts page, you’ll see a menu, click on alerts and you’ll get a screen which asks you to set up a search term, here you would enter your name & business and area, because these are the key words you want to search. Click on create alert and then you’re done. Once a day Google will update you on information relevant about your search alert, if a comment or your name or business is mentioned you’ll be advised. You’ll also pick up a lot of interesting news happening in your area. Whilst this is not foolproof, at least you’ll have a system in place, as well as monitoring sites in your area that carry consumer comments. Sites such as www.womf.com.au are worth monitoring as well as consumer blog sites. 

Also check out for a bit of fun www.outrageousagents.com, and you’ll see what I mean about the growth of these sites.

Set up multiple alerts for different search terms and sit back and let Google do all the work. If you do find a comment or blog about you or your business that needs to be removed, contact the blog publisher and let them know you’re aware that negative comments have been published and at least get the right of reply or try and get the offending comment removed.

Good luck and as always, let me know if you need help.

tt twitter micro3 On Line Reputation Management   How To Set Up Google Alerts For Your Business

Real Estate Agents Use Technology to Gain Competitive Edge

You’ll hear me talk about technology for real estate agents that gives the agent a competitive edge when it comes to marketing, listing and selling and communicating with prospects and clients. What is the impact of this technology on business? I’ve found an interesting article on how agents in really competitive markets are turning to technology to give them the egde in business in their suburb. I hope you enjoy!

http://rismedia.com/wp/2008-10-15/realtors-turn-to-technology-for-competitive-edge-survey-reveals/

tt twitter micro3 Real Estate Agents Use Technology to Gain Competitive Edge

Economy Causes Agents to Cut Advertising Spend


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In my travels and in the domain.com.au power breakfasts this week it has become obvious that some agents are cancelling or cutting back on advertising budgets due to the market slowing. There seems though a trend by agents to cut back their On line Spend, so I thought I’d have some fun and run a poll on this today.

So the question is:

tt twitter micro3 Economy Causes Agents to Cut Advertising Spend

Mike Andrew on Grant Thorpe Business Coach Teleseminar

I must give a big thank you to Grant Thorpe who invited me to be a guest speaker this morning on his international teleseminar. I first met Grant when he and I appeared together in September when we hosted a seminar series along with Ian Grace, and I would like to do more appearances with him and we are planning to do just that hopefully in the next few months, so stay tuned for that announcement. However, the reason for this post today is to provide all of Grants listeners and my readers with some of the updated stats that were discussed this morning. We discussed during the teleseminar the changing nature of the internet consumer and I used the following stats from the Sept 2008 CAR Home Buyers Survey to highlight how this is changing consumer habits.

Most Real Estate Agents view the Internet as a buyers tool and will use traditional advertising to impact the seller, in other words use press to list and internet to sell. Well I would encourage you to rethink that strategy, here are the latest research stats on Vendors vs Buyers:

  • 84% of Sellers search for their real estate agent on the Internet vs 78% buyers – What does this mean for you? You need now to really focus on using the Internet as a listing tool and make sure that you have complete and up to date information on your listings. You need to make sure your office and agent profiles on all the major portals are complete and up to date. Give some thought to your on line reputation because now the consumer will!!!! 

 

  • 43% of sellers found their agents in 2008 from a previous transaction with that agent a drop of 10% on 2007, however the Internet as a source of agent selection went from 6% in 2007 to 33% in 2008. The impact of “For Sale Signs” in this decision decreased from 6% in 2007 to 2% in 2008.

The impact of traditional advertising on vendors is decreasing at a rapid rate, hence the drop off in press readership. I refer you to a previous post http://mikeandrewrealestate.wordpress.com/2008/09/01/traditional-vs-on-line-marketing-the-big-disconnect/ about the disconnect in advertising budget spend. 

Also check out http://mikeandrewrealestate.wordpress.com/2008/10/09/car-2008-survey-of-california-home-buyers-released/ for more research stats from the C.A.R’s Sept 2008 survey.

I’ll also be interviewing Grant Thorpe for one of my podcasts over the next week so stand by for that, and you can check his web site out at http://www.grantthorpe.com

If you would like any additional information on this survey then please email me or send me a comment, I’d love to hear from you.

tt twitter micro3 Mike Andrew on Grant Thorpe Business Coach Teleseminar

Good News On Home Sales In California

Just received some news that home sales in California in September jumped by 65%. Investors are taking advantage of the heavily discounted properties and increasing their property portfolios. Maybe some of that trend may start to impact our housing market here.

Heres the link to the story for you to read:

http://www.businessweek.com/ap/financialnews/D93V74M80.htm

tt twitter micro3 Good News On Home Sales In California

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