University of Auckland Property Management - realestate.co.nz May 09
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Transcript of University of Auckland Property Management - realestate.co.nz May 09
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The changing face of real estate
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Realestate.co.nz
• Industry owned website
• Most comprehensive website for real
estate in NZ
• Significant competitor – Fairfax
owned Trade Me
• “Content is king” model holds true!
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Consistent growth – outperforming the market
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Real Estate Industry
• The marketplace
• Online real estate
• Changing face of real estate
• Google and its impact on real
estate
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• $30 billion industry
• $1 billion in commissions
• 11,500 salespeople
Real Estate Industry
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The great housing crash !!??
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Beware of media hype!
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Continued price declines
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2 very different decades
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Market value trebled in 6 years
$41 billion
$22 billion
$13 billion
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The highs and the lows – property sales
122,000
54,000
63,000
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Putting sales volumes into perspective
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Strong start to 2009
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Supply and demand in the local market
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Understanding and interpreting information
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Latest research from USA – the web #1 for search
National Association of Realtors Home Buyer Survey 2008
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More and more people searching online for property
Over 1,000,000 visitor sessions per week through February & March up 22%
Graph represents the aggregation of website visitor sessions across 9 company and portal real estate websites
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Up to the minute activity in the market - emails
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The changing face of real estate?
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Traditional model has changed
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Buyers in control
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Relationship with buyers has changed
5 – 10 years ago
Today
Research / Research / Research
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“Homebuyers & Agents have information overload.
Agents must create legitimate value-add services & become the trusted go-to person”
Stefan Swanepoel
The changing face of real estate
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““Traditional agents will Traditional agents will not be replaced by not be replaced by
technology...technology...
..they will be replaced ..they will be replaced by agents with by agents with
technology”technology”
What’s really happening ?
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Know your clients
• Where are they looking?
• What are they looking at?
• What are they looking for?
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Where are they looking?
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What are they looking at??
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What are they looking for?
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Property information at your finger tips
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Providing information – 24hrs a day
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1,528,000 properties in NZ
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Every property has a web page
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Context – where in relation to schools
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Context of aerial images
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Community information – where to live
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Property and lifestyle information
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What’s on the market?
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Who lives in that suburb?
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+
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Real Estate Industry
• The marketplace
• Online real estate
• Changing face of real estate
• Google and its impact on real
estate
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What drives real estate?
immigrationEmployment
House prices
Affordability
Mortgage rates
deposits
Consumer confidence
Building consentsGDP
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Getting inside the minds of buyers??
6 weeks of researching
2½ hours per week on specialist real estate websites
55%
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Real transformation of real estate
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Reputation Management
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Selling opportunity online
• Competitive arena
• Grab the attention of homeowners
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Blogs – hosted on realestate.co.nz
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Online engagement in real estate
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Stay informed / stay connected
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