Get On Board The Technology Train

By Mandy Reutter

Who else is tired of hearing about the economy and how the housing market is at a crawl?  I know I am.

And I know I’m not the only one who sits down with a glass of wine at night, telling friends about how 5 years ago I had sold 50+ custom new homes in one year.  Those kinds of numbers may not exist for most people right now, but I guarantee you there are agents out there that have found a way to stay busy and sell homes.

You may be thinking, “Well I don’t have the kind of money it takes to market like the big agents.”  The beauty is…you don’t have to!  The Internet is there for you to take advantage of.  You don’t have to pay a lot of money for a website or an IDX solution.  There are web-based software out there that cost less than $300 to set up and requires minimal monthly payment.  And get this…most social networking and blog sites are FREE.

Like I mentioned before, I have practiced real estate and I am still a licensed broker.  I chose to go into real estate software because I saw a need to supply the Triangle area agents with useful tools that could assist them in the process of buying and selling homes.  I want to share some of this useful information and tips through the course of this article that will help you as Realtors get online, get educated, and get competitive.

GET ONLINE

Did you know that according to NAR, 87% of buyers & sellers research online prior to contacting an agent. Think of it, 87% of buyers and sellers are researching online first.  It’s like walking into a room of 87 eager customers with no business card. These days, if you are not on the web, you’re not selling homes.

Tips for getting online:

• Build a website with a “branded name”, either your name or your office name.
• Set up a Facebook and Twitter account.
• Provide information that is relevant to your industry and marketplace.
• If you have a new listing, post it on your profile page.
• Share additional photos of your properties.
• Provide unique information that buyers & sellers might not be able to find through your MLS listing.
• Promote price changes or open houses.
• Create a FREE account with Postlets (online web-based flyers).  You can post your listings on Craigslist directly through Postlets.
• Join ActiveRain (Agent blog site)
• Integrate your personal blog into your main website.  There are some software companies who have agent website templates with built-in blogs, at no additional charge.

GET EDUCATED

It is important for new agents to understand that when you are looking to purchase real estate software, you will need both a website, and a property search tool.  Not all companies out there offer a website solution and an IDX or VOW solution.  Your website is a means for buyers & sellers to find you.  Your content and your property search tools are a way to capture them as leads and convert them into clients.

If I may make a suggestion, find a company that is capable of offering agent websites and IDX / VOW property search.  This way you are guaranteed to have a seamless looking website.  Not all technology is compatible.  Not all property search tools plug into agent websites without getting distorted or running off the page.   This is the last thing you want and in my opinion it’s a waste of money. Your website is now working against you.  It is no longer useful to buyers and sellers because it is difficult to operate and read.

Simple.  Simple.  Simple.  You have 30 seconds to make an impression.  Know what your target audience is looking for and give it to them.  Give them a way to search for homes…I mean isn’t that what they are looking for to begin with?  Buyers & sellers don’t care about the weather or what the stock market is doing when they are looking for homes.  You are not a meteorologist or a stockbroker.  You are a licensed Realtor.  Educate them on what you know and why you should be their trusted real estate professional.

GET COMPETITIVE

Earlier this year, the Triangle MLS introduced a new policy into our market, governing the use of previously restricted property data.  The virtual office website, or VOW which most of you may have already heard of or have done research on, was defined by our NC Real Estate Commission as a “vehicle for conducting online brokerage in a way that is similar to how a brokerage firm interacts with its clients and customers in a brick-and-mortar office.”

Kind of vague?  Kind of confusing…right?  That’s the thing about policies, usually written by attorneys, they don’t seem to make sense until someone breaks it down into basic terms or examples that you can understand.

Let me try and eliminate the confusion and give you a better explanation of VOW.

“A VOW is an individual broker or broker office website that allows buyers & sellers to access all the non-confidential information in the Triangle MLS, such as sold properties, sold prices and tax values, after the buyer or seller has initiated a broker relationship through an interactive registration process.”

In it’s most simple form; think of VOW as an enhanced property search tool that captures more leads and captures more consumer interest.

Tips on how a VOW can help your business?

• Sharing sold data, captures unrepresented sellers looking for comps.
• Sharing tax values can spark a buyer’s interest and generate a scheduled showing.
• Sharing sold price vs. list price can reassure a buyer’s or seller’s mind when purchasing or selling a home.
• Having an enhanced property search can attract more clients to your site over your competitor’s website.
• Registering on a VOW, creates an agency relationship which creates a sense of loyalty to the transaction process.

I’ll go on record and say “The market is turning around.” Are you ready?  Have you prepared your business for the day the market turns around?   Budget and pricing shouldn’t be a problem, because as I stated above, you should be able to find a company out there that can supply you with a website and property search for minimal investment.

The old saying “spend money to make money,” does not advise you to spend a lot of money but you will have to spend some.  Take this time to do your research, prioritize, and most of all DO NOT BE SCARED.  In most cases technology is there to help you.  But make sure that the technology you chose is working for you instead of the other way around.