Internet for Real Estate

Newspapers Slump as Readers And Real Estate Advertisers Migrate to the Internet and Other Media

Posted on July 21, 2007. Filed under: Internet for Real Estate, Property Web Presence, Real Estate Marketing |

The McClatchy Company, is the nations third largest newspaper chain, and it’s Chairman and Chief Exacutive Gary Pruitt recently said the advertising climate looks soft for the balance of 2007.

According to a July 20th article, “The real estate slump is compounding an ongoing structural downturn afflicting the industry as readers and advertisers migrate to the Internet and other media.”

The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”

The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”

“The downturn mainly reflected a significant drop in ad sales, especially at McClatchy’s California and Florida papers. Nearly three-quarters of the drop in ad revenue came from those two states, which are suffering from real estate woes. Real estate advertising was down 32 percent in California and Florida, causing a spillover effect that depressed other ad categories. ”

Meanwhile, online advertising revenues are up at most of the nation’s newspapers. Does this mean that buyers are no longer reading classified ads? Well, they are reading them online, that is why the advertisers are moving to that forum.

 One great advantage to accessing real estate ads online is the ability to search by keyword, for example “forclosure,” “fsbo,” or “motivated seller.”

Another advantage to utilization of online media for real estate marketing is it’s interactivity. Links can be shared, websites can be accessed in real time, the buyer can travel directly to your property portfolio, see photos/videos of your property, etc. 

It is becoming more and more important for real estate professionals to be able to keep up with this move to online media. They need to be flexable in harnessing it, showcasing listings through it, and advertising to out of state markets on it.

In the context of nationwide “leveling off” in real estate sales, ability to communicate to buyers, sellers, and property owners through their home computers can significantly make the difference between the number of days on the market it can take to go under contract.  

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80% of New Homes are Found Over the Internet and 83% of Buyers Cited Pictures as the Most Important

Posted on July 14, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Out of Town Buyers, Property Web Presence, Real Estate Marketing |

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Left, Lucie Thompson; right, Robert Bradley

PLAYING THE ANGLES Lucie Thompson, an agent at the Corcoran Group in Palm Beach, Fla., photographed a house on Jupiter Island, left. The company later hired a professional photographer, Robert Brantley, to shoot the same house. The results, right, speak for themselves.

The above photos and captions are reprinted from The New York Times article, “Making Every Pixel Count.” It reports, “In real estate, a picture can be worth more than a thousand words. Much, much more. When selling properties online, agents and Web designers say that the pictures buyers see of houses and apartments for sale are often the first — and sometimes the only — chance for a seller to make a good impression. Less-than-flattering pictures can turn buyers off and lead to lonely open houses.”

Indeed,

“Good photos will grab people’s attention and help you sell a home,” said Jacky Teplitzky, an executive vice president of Prudential Douglas Elliman Real Estate in New York. “Bad pictures will absolutely give you trouble, because you won’t have any calls on it, and nobody will come to see it.”

Eighty percent of people across the country who bought a new home last year used the Internet while house hunting, and they rated photographs as the most useful tool in their search, according to a survey of buyers and sellers by the National Association of Realtors. The survey also found that 24 percent of home buyers got their first glimpses of their new homes on the Web, up from a mere 2 percent in 1997.

In many cases, it is the agents themselves who are snapping the pictures and posting them on the agency Web site. Because of this, it is important that sellers choosing an agent know who will take and pay for the pictures and whether a professional photographer is available.

“It’s so important to have photos that are professionally presented,” said Rosalind Clarke, a senior sales associate with the Corcoran Group in Palm Beach, Fla.

She added that she uses only pictures taken by professional photographers, because “if things look shoddy or unprofessional, not only are buyers going to find the property unappealing, they’re going to associate you with being shoddy and unprofessional.”

But there is little point in having good photographs or beautifully written prose describing a home if you don’t have a Web site that is easy to find and easy to use — and this holds true whether you’re using a broker who will list your home on an agency Web site or you’re trying to sell your home yourself and are creating your own Web site or listing your home on a site like Craigslist.

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4 Factors Traditionally Affecting the Days a Listing Stays on the Market

Posted on July 8, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Real Estate Marketing |

1. Market Conditions

2. Interest Rates

3. Curb Appeal

4. Price Per Square Foot

Only two of these factors can be independently controlled by the homeowner.

Investor Details original clients were owners of point value homes. These homeowners came up to us seeking solutions through marketing campaigns that might help bring a buyer.

They explained their lack of control over market conditions, and federal interest rates which continued to rise. 

They were carrying holding costs at several hundred dollars per day, and they were told if they wanted their listing to sell quickly they had the following options: 

a) update the kitchens

b) lower the purchase price

c) or both.

These homewners consulted with us to develop a web, print and media campaign.  

Our real estate marketing saved them five figures in profit.    

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The Traditional Property Portfolio Moves Online

Posted on June 29, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Real Estate Marketing |

Today’s real estate buyers are accustomed to information on demand. They are making buying decisions from their computer rooms, laptops, and smart phones.

They are searching for deals on eBay, Craigslist, and Local Newspaper Classifieds.

They are searching by keyword, and they’re expecting pictures, video, community info and comps.

They know how to use tax records, online courthouse docs, and reverse record searches.

Learn how to include essential components for online property portfolios in your listings.  

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5 Reasons to Use Classified Advertising Targeted for Real Estate

Posted on June 29, 2007. Filed under: Internet for Real Estate, Real Estate Marketing |

How has the classified ad evolved over time?

1. It’s possible to sit at any computer and place a classified ad to anywhere from anywhere.

2. Classified ads traditionally charge by the letter, however less than ten letters form a website address.

3. Classified ads can now lead into email addresses for real estate, with auto-responders providing immediate communication to buyers.

4. Most classified ads in newspapers can incorporate searchable keywords for time saving targeted searches by web-savvy buyers.

5. Website addresses for listings fed in by classified links can feature full property portfolios complete with slideshows, community info and video.

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Examining the Need for Real Estate Marketing

Posted on June 29, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Real Estate Marketing |

A USA Today article posted 23 days ago states, “Many Investors Feel Like Running Away From Homes.” What may initially seem like a push to the turn of stock market investing (be sure to read the comments), what it really states is the very true reality that the real estate market has had no need to market for the past 5-7 years, as interest rates were low, appreciation rates were high, and the properties that were listed were practically selling themselves.

Not only have adjustable rate mortgages risen (see this article from MSNBC), but the technology for the way real estate is bought and sold has changed as well (see this real estate business article from About.com).   

Current investors who are holding property need to be at the equipped to react quickly.  When given the choice between lowering rents, adding kitchen/bathroom features, or lowering the purchase price, real estate marketing seems a viable alternative for attracting out of state monies for expedient close.   

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This is the Motivation of the Out of State Buyer

Posted on June 29, 2007. Filed under: Internet for Real Estate, Media for Real Estate, Out of Town Buyers, Real Estate Marketing |

I encountered a commercial mortgage broker on a streetcorner in San Francisco, CA.  After learning of my backround in real estate investment, he said these words, and I will never forget it:

“Well, I haven’t got a lot of money, but I have got just over one hundred thousand dollars in ready funds available for cash, and I would like to learn how to get a higher rate on investment through real estate.”

Now consider his market and the context of his statement. The city he lives in has a median home price of $736,800, and is the 4th most overpriced real estate market in the country, according to a recent study by Forbes.com.

No wonder he has become a cash buyer looking to invest his dollars elsewhere. How many of you would appreciate a cash buyer for your listing who could close on the property within a week without the hassle of financing contingencies?

 I thought, wow, you could buy several cash-flow properties in rapidly appreciating markets for that kind of money, or you could just privately lend that money secured by equity for a higher rate of return against real estate investment.

Thus, the emergence of today’s need for classified, media, internet, and just generally out of state campaigns for real estate.

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Why Would Anybody Home Tour, When They Could Just Go Online?

Posted on June 23, 2007. Filed under: Internet for Real Estate, Media for Real Estate |

Let me preface this by saying that home tours are still valuable. Just think of all of that valuable time you are asking your buyers to spend, afternoons in traffic, driving around with a Real Estate Agent, contacting other owners for keys to lockboxes and viewtimes.

Sellers appreciate virtual media tours for the wear and tear saved on new carpet, the end of electricity left on, and real estate professionals use them to allow buyers who are on vacation to preview their listings before showing.

Investor Details: Real Estate Media coordinates home tour production for real estate agents and the sellers that they represent.

The visual tour of your listing can be simple to elaborate, and we can help you embed it to play on your website, showcase to buyers in email, or set it up to play on our own Virtual Television Channels. The objective is to convert virtual home buyers to leads, and our marketing division can help you manage those leads just as well as our field agents produce them.

This concept is cutting edge, just read the New York Post Article, Dated 07 June 2007.

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