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THINK YOU HAVE WHAT IT TAKES TO BE A 21ST CENTURY REAL ESTATE

AGENT? THINK AGAIN…

By Mr. Eric Muli, IT Manager, RE/MAX Kenya

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It is okay to be conversant with:

- The country’s real estate laws

- The city’s real estate by-laws

- All property taxes and levies

- The process of selling a house

- The process of buying a house

- The documents needed for a transaction

But it is enough?

CONTENT VS DELIVERY

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Real estate is a lot like public speaking. It’s a people business whose success is determined by:

20% - content

80% - presentation, style, passion

Just like public speaking, you will have to package yourself as a “brand”.

And a brand employs special tools to reach its audience.

CONTENT VS DELIVERY

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The question here is:

What tools do I have that can help me become a Real estate brand? Even as an individual?

REFLECTION

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35% = 2.3B people

THE DIGITAL UNIVERSE IS EXPANDING RAPIDLY

65% are on the uptake

35% of the world population is already online.

The remaining 65% are being reached daily and are coming aboard!

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SOME ONLINE USAGE STATISTICS

1BN Facebook

Users

4BN YouTube

Users

Mobile accounts for

10% of consumer’s

time

23M Unique visitors to Pinterest monthly

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EVERYONE AND EVERYTHING IS ONLINE

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MOBILE PENETRATION

2015 – 40M 2014 – 31M

79% mobile penetration level!

2013 – 23M

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23.2M Internet users in Kenya

INTERNET PENETRATION

30% Smart Phone Penetration

4.2M active Facebook Users

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With this in mind, “What does it take to be a 21st Century Real

Estate Agent?”

Tech savvy is the word

THE BIG Q

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WHAT IS ICT?

Information & Communication Technology (ICT) is used to refer to infrastructure and product development that facilitate the collecting, storing and analysis of information that may be transmitted electronically.

It includes equipment like telephones, communication lines used to enhance communication between employers and employees, businesses and customers, business and business across physical boundaries

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ITS IMPLICATIONS

WHAT ARE THE IMPLICATIONS OF ICT ON REAL ESTATE TODAY?

Computer and information technologies are expected to bring about “the wave” of revolution to the production and social interactions in the Real Estate Industry.

How would these new ways of production and customer-agent relationships impact on the demand for Real Estate?

Would this IT revolution lead to a major structural change in the Real Estate demand?

How would the location choice, spatial configuration and functional connectivity of Real Estate be changed to meet the demand of the IT-driven businesses?

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THE WORK OF AGENTS

Introduction Real Estate is an information-intensive business illustrating the role of

information. Agents connect buyers to sellers and do so through control and

dissemination of information. They are valued for the information skills they can bring in making both listings and sales.

In real estate, what agents do is focused on individual relationships between the agent, buyers and sellers. There is a lot of communication.

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THE WORK OF AGENTS

Rent, buy, or sell property for clients. Perform duties such as study property listings, Interview prospective clients, Accompany clients to property sites, Discuss conditions of a sale, Draw up real estate contracts Advice the client on real estate law Advice the client on mortgage options available

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THE WORK OF AGENTS

A good agent keeps up with market activity:Most real estate agents begin their day by looking at the previous day's market activity. This is usually on a downloaded or online "hot sheet" report. It tells them what sold, new listings, price changes and other activity in their market.

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THE WORK OF AGENTS

There are usually some closing transaction items to take care of:

If you're doing deals, there are multitudes of action items, deadlines and deliveries involved. A busy agent spends time each day in getting paperwork to the right places, explaining contract items to clients, coordinating inspections, reviewing documents and more.

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THE WORK OF AGENTS

Working with buyer prospects and clients:Working with buyer clients isn't just driving them around looking at homes or other properties. There's a great deal of preparation involved in determining their needs, finding suitable properties and gathering information to help your buyer clients to make decisions about their new home.

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THE WORK OF AGENTS

Getting, keeping and servicing listings:Listings have always been the bread and butter of the real estate business. To serve sellers a real estate agent needs to possess excellent market knowledge, marketing skills, negotiation ability and much more.

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THE WORK OF AGENTS

A good agent can't stop learning - ever:Agents require ongoing training in the real estate business. Most successful agents and brokers go far beyond the basic requirement and educate themselves about all facets of the business.

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THE WORK OF AGENTS

Value to Your Real Estate Clients is Your Knowledge and Professionalism:

The complexity of a real estate transaction and the large amounts of money involved are things that concern most home buyers and sellers. Part of your value to them as a real estate professional is your knowledge of the process.

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OVERALL

Helping your clients with contracts, negotiations, inspections, and closing processes is a large part of your job. Continuous education to keep up with laws and the market is a big part of the life of a real estate agent or broker.

No doubt!!

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THE DISTINGUISHING FACTOR

In this day and age (21st Century),it is:1. your knowledge, 2. ability to use ICT Tools (Tech Savvy)3. accessibility to those ICT tools,That will take you over the top and inject growth into your real estate career.

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ICT TOOLS AVAILABLE TO AGENTS Internet & related network technologies

For many regions MLS data is now publicly available on the Web. There are also regional and large national corporate sites, property portals and individual realtors deploying their own Web sites.

Further, mortgage firms, financial institutions, chambers of commerce, etc., have also established Web sites and cross- affiliations influencing the real estate business.

Having a user friendly and customer-focused website is one of the most important elements for all real estate companies. And by extension, the real estate agent.

Is the website you are on WAP enabled? Or is it the latest responsive design template?

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ICT TOOLS AVAILABLE TO AGENTS

Continuous Training continuous Improvement through Online Real

Estate University Courses. A scalable database of contacts Referral Networks Property Mobile Apps

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ICT TOOLS AVAILABLE TO AGENTS

Lead Generation Tools Customer Relations Management (CRM) Property Management Platforms Online Diary Platforms Buyer Match Feature Tools Transaction Reporting Tools Quick Reports Generating Tools

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REFLECTION

So are you being a 21st Century Real Estate Agent?

Do you have what it takes to be that?

Are you maximizing your potential with the power of networking?

Are you on a system that gives you the best ICT leverage to achieve your full potential?

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THE END

THANK YOU

RE/MAX KENYA REGIONAL OFFICE4TH FLOOR, DELTA CORNER TOWERS,CHIROMO ROAD, WESTLANDS.WEBSITE: WWW.REMAX-KENYA.COMTEL: 0707 645 700 OR 020 44 00 650EMAIL: INFO@REMAX-KENYA.COM