RealTown's RealTalk

In the last part of Gloria's response I find most interesting.

"Lastly, I didn't get my real estate license to be a search engine optimizer.. nor a web site designer, or a blogger or an Internet geek... and now I am faced with a task that is outside of what I do best and its completely overwhelming... Social media, blogging, LinkedIn, Facebook, youtube, audios, videos, MySpace... on and on and on.. and its not like I am opposed to learning about this stuff and doing some or all of it... but I have been getting Internet leads for years from various places, some of my own, some I have paid for and the bottom line is they aren't easy or quick conversions, most are looky Lue's who have nothing better to do but take my time. I keep thinking I must be doing something wrong so I work harder at it, change my systems, learn more, adjust more, change my scripts and auto responders, be quicker to respond.... ughhh... nothing seems to work."

KEEP ON RESEARCHING GLORIA.  That is exactly what I do.  If you can't examine the evidence then what are you going to examine?  A life not worth examining is a life not worth committing to.  There are many agents in this business climbing the ladder of successful real estate only to find at the top they've had their ladder leaning against the wrong building.

My suggestion is to examine the evidence.  Does Exposure, especially Internet exposure sell more real estate at higher values?  The answer is NO!  Our industry used to be a broker to broker mind set.  Since the Internet and IDX our industry has been converted to a broker to consumer mind set.  It doesn't work as good.  We've all become more busy and less productive.  The Internet, email, blogging, virtual tours, transaction desks and all the bells and whistles are fun and can be practical but it is NOT producing the results that create equity growth.  And if there is no equity then why buy!  Real Estate has lost the advantage of being a positive investment.  IDX is the reason.  PERIOD.  If we all started OPTING-OUT of the IDX, I think you would find more cooperation between agents buyers and sellers, even lenders, maybe.  Ask yourself this one question, why do consumers go to the Internet to find their Brass Ring?  Because they don't need YOU.  Who needs an appraisal when you can get an appraisal on line for FREE!  What are comps when you anybody has access to the MLS?  Don't you find it a little disingenuous when DOM is missing on the NET, how about Commission, you'll never find it on the NET.  That is what everybody wants to know!  Why don't we expose DOM and COMMISSION over the IDX?  Then the cat would really be out of the bag.

Hi Robert,

You wrote -

"My suggestion is to examine the evidence. Does Exposure, especially Internet exposure sell more real estate at higher values? The answer is NO! Our industry used to be a broker to broker mind set. Since the Internet and IDX our industry has been converted to a broker to consumer mind set. It doesn't work as good. We've all become more busy and less productive. The Internet, email, blogging, virtual tours, transaction desks and all the bells and whistles are fun and can be practical but it is NOT producing the results that create equity growth. And if there is no equity then why buy! Real Estate has lost the advantage of being a positive investment. IDX is the reason. PERIOD. If we all started OPTING-OUT of the IDX, I think you would find more cooperation between agents buyers and sellers, even lenders, maybe. Ask yourself this one question, why do consumers go to the Internet to find their Brass Ring? Because they don't need YOU. Who needs an appraisal when you can get an appraisal on line for FREE! What are comps when you anybody has access to the MLS? Don't you find it a little disingenuous when DOM is missing on the NET, how about Commission, you'll never find it on the NET. That is what everybody wants to know! Why don't we expose DOM and COMMISSION over the IDX? Then the cat would really be out of the bag."

Are you kidding? Yes, "Exposure" does sell real estate faster, because it has always brought in more inquiries. But the market, regardless of "exposure", determines the present real estate values. So the two are not related. Every seller has always demanded that their listing agent give their property maximum exposure. From Tom Hopkins, a national real estate trainer, who taught, "Mr. and Mrs. Seller, my marketing plan is aimed to get you the greatest amount of money, in the shortest possible time, with the least amount of inconvenience to you. And we start off with how I and my firm are going to expose your property to the marketplace to achieve those 3 goals."

You mention "equity". Whose? If you mean for the consumer, Real Estate has not lost the advantage of being a positive investment overall... only perhaps in the short term. You have been around in real estate since the 70's, like myself since 1975, and we have seen at least 3 down cycles like this in our real estate careers. 18% to 20% interest rates in the early 80's, the S&L Bailout in late '89 that led to sellers being "upside down" in their properties during the early '90's and now again today, due to sub-prime lending fiasco during the "go-go" years of 2001 to 2005. Yet overall, the value of real estate has marched ever onward and upward, making for many the fact that owning a home has been the best investment they could have ever made! My first sale in 1975 was a 4 bedroom, 2 bath brick Rancher with full finished basement that I sold for $42,000. That same home today is going in the mid-$400!

By your comments, you obviously don't understand the value of an IDX. An IDX is nothing more than today's electronic "Homes Magazine"! Perhaps it is displaying a little more public information than what we used to write in the body of our ads. It may be now tied into a Google map - which we couldn't figure out how to create and submit a map for the property in the "Home Magazine". And it is now showing more photos than we were willing to pay for on the page in our ads. Yet even I recall some agents taking out full page ads for just 1 property, showing multiple photos too - an 80's "photo gallery".

Since an IDX is more complete than an 50 to 70 page paper publication - color or black & white - displaying hundreds of homes for sale that all of us had in the lobbies of our real estate offices or could be picked up at any convenience store, that is why the buying public has found this a superior way to begin their search for a new home. They loved the "Homes Magazine" over classified ads even then. Consumers are going to the Internet now because they can carry around an electronic "Home Magazine" in their pocket or "surf" it any time of day or night without waiting for the next issue to be published in 2 weeks. And you don't even get newspaper ink all over your fingers while thumbing through the "magazine" anymore. ;-)

But an IDX is still no substitute for actually working with a good agent! You and I know that 99 times out of 100, the caller on a "Homes Magazine" ad didn't buy the house they called on. But they ended up buying something! That ad was merely designed to get the phone to ring so as agents, we could get a name, a phone number and hopefully an appointment - to meet this buyer in person to perhaps show them the house they called on and others too. A good IDX section on an agent's web site is also designed to do just that - get the phone to ring or the email to chime. Ha!

We still have "Exclusive Right To Sell" listings, don't we? It says that if the property is sold to anyone, we still get paid. So give them the address! Whether they decide to buy your own listing through you or pick another local agent to help them write their offer, who cares? As the lister, you'll still get paid. In Northern Virginia, over 95%+ of all of our transactions have always been co-op sales between 2 brokerage firms... for decades.

As to on-line appraisals, you and I know they are a joke too. Garbage in - garbage out. No computer can substitute for human analysis. It just holds data! It is understanding how to interpret the data that gives real estate agents value. So those things on the Web are merely "toys" to play with.

I do agree that cooperation between brokerage firms has been lacking more these days, but that is more due to a huge training problem in our profession than anything having to do with the Internet. Today, brokers seem to be failing in taking their responsibility seriously to train their new agents. With agents being offered 85%+ splits at the start, who can also afford to have a full-time trainer on staff? But that has nothing to do with the Internet. That has everything to do with us allowing other brokers to shirk their supervising responsibilities with little or no consequences before they put a new agent out on the street.

As an agent, you aren't hired for how many "Open House" arrows you own, how many ads you will place, or how many miles you are willing to put on your car showing houses. You are hired for your "brain power"... the knowledge you have between your 2 ears about the local area, the marketplace, the better appreciating neighborhoods, home styles and values, how to write and negotiate contracts successfully, how to navigate through all of the pitfalls of a real estate transaction to finally arrive at a closing table. If there were no such things as real estate agents and brokers, the public would have to "invent" us! We bring to their table much more than merely a lockbox key that opens doors. The average consumer is only going to buy or sell 5 to 6 properties in their lifetime. The average rookie agent had better settle that many homes their first year if they hope to survive in our profession. So almost every agent by Year 2 has a "lifetime's" worth of experience in how to successfully buy and sell real estate early on in their career. There is no substitute for that... and even the consumer knows that!

Your profile here says that you are also an "educator". If you are also teaching real estate, then you need to take a look at not just the negative aspects of Internet Marketing, but also at the positive aspects as well. I don't think the Internet is just a "fad" anymore. It is here to stay and it is far too late to try to "put that horse back into the barn." So it is better to think about how to make it work for you to generate new sales opportunites than try to turn back the clock and wish for the "good old days".

Win

************************
Win Singleton, CRB, e-PRO
Summit Web Design
(703) 536-7631
wins@summitweb.com
www.summitweb.com
an Internet Crusade Approved Vendor
"Custom web site design that gets results!"
************************

Hi all,

In regards to this thread about SEO, leads and actual closings. I must say that I have based a large part of my real estate business directly around the Internet. And yes... I do close many of my Internet leads. I have two top ranked websites that I developed on my own. The trick to getting top rankings is basing your website(s) on a niche.

It will be extremely difficult for a REALTOR to secure a top position for a website targeted a general keywords such as "Atlanta Real Estate" or "Waterfont Properties". Furthermore, targeting a website to your own name, is in some ways a big waste of time... at least as far as search engine optimization goes.

These are my tips for creating an internet presence that will bring you decent leads:

1. Identify a niche... locality, type of client, type of business, etc.

2. Purchase a domain name or several that include your targeted keywords within the domain. For instance, for locality I purchased www.FairfieldCountyRealEstate.com. This is much better than buying a domain with my name in it. Few people are going to be searching for your name.

Another example... marketing to niche clients is my site at www.GayConnecticutRealEstate.com. I closed 12 deals my first year in business just from this one site alone and it ranks number one for many keyword combinations on the major search engines.

3. Build your website using keyword rich content. A beautiful site filled with pictures does nothing to get you at the top of the search engines. I see so many websites that have a beautiful index page with no text at all. Just graphics. The search engines cannot read graphics. They can only read text.

Now, I have learned over the years how to build my own websites. It is very time consuming and for most agents, probably not your best option. Search for website designers online, look at samples of their work, find out what type of SEO results they have gotten for others. Make the investment in building a good website. An agent without a website in today's market can be compared to a taxi car driver without a backseat.

4. Over time, submit your websites to directories, classified sites, etc. and build your presence. The more relative links you have pointing to your website the better. Note: Do not blast your links out to non-related websites and be aware that in some cases, paid links are being discounted by the search engines.

5. Take the time to participate in message boards, blogs, etc. Include your links in your signature, or when appropriate as references. DO NOT SPAM.

6. Write articles that link back to your website and submit to article directories online.

7. Don't expect results overnight, within a month, or even 6 months. The process takes time, but it is well worth it.

If any one would like help, I am happy to offer suggestions or share my knowledge for free. Just contact me.

Best wishes,

Christopher Rich - REALTOR
William Raveis Real Estate
Your Fairfield County CT Real Estate Agent

Hi Catherine,

Glad you liked my post and my Ellen Degeneres phone call :-) No, I didn't know she was going to call. They had called a couple of days prior to ask permission to use my picture/slogan on the show, but surprised me with the call.

There was actually quite a bit more to the phone call, but they didn't air it all. Lots of fun! And great publicity. It has aired a few times, now.

Best wishes,

Christopher Rich - REALTOR
William Raveis Real Estate
Your Fairfield County CT Real Estate Agent

I'm glad to see that this thread has some legs. Agents need to hear real life examples of how an effective Web presence leads to CLOSINGS.

There is no going back to some nostalgic time in this business. A large percentage of BUYERS now use the World Wide Web to find and initially review property. The Web provides them with efficiency, and the kind of detailed property information that was never available when the industry collectively held the cards.

Agents who want a piece of that Web traffic (and some don't, it appears) MUST construct a coherent Web marketing strategy that allows them to tap into that huge pool of potential buyers who are using the computer as their first resource. These buyers are definitely not driving around neighborhoods looking for yard signs, or reading the real estate section of newspapers. Some are sitting in another state, planning to relocate.

Looking at this sea change from the perspective of what agents want (or used to have), and not from what buyers want (and now get) at the click of a mouse is probably not the most effective way to broker real estate in 2008.

This does require a new set of marketing skills that were apparently unneccesary during the boom years, when old school methods still appeared to work well.

So, agents, where is YOUR mentor in all of this? If they are not steering you toward successful use of the Web, then demand it, or take on that role yourself. Most old school mentors in this business are not experienced, willing, or knowledgable enough to provide meaningful Web marketing guidance to their trainees. Some even denigrate it, and pine away for the old days.

What is being said about Web marketing in YOUR own broker's office, and in your local office sales meetings?

One way to find out if you are being served well by your own mentor is to ask some very specific questions about their own Web marketing, as I outlined here in another recent post entitled, "Do You Need a Mentor Evaluation?", posted here:
www.realtown.com/community/RealTalk//community/RealTalk/view/00CJD0
(my previous mention of this link in this thread was not formatted properly, so please try this one)

Agents, I have been dealing with Web marketing for real estate agents for over five years now. Most of our business comes from Webmasters and Web marketing agencies, who bring us a steady stream of new client domains to work with. In other words, it is repeat business. 

If what we do here did not work, we'd be out of business. Instead, we hear with regularity that this has made a significant difference in the Web traffic, lead generation, and closings of individual agents. Granted, every situation is unique, and results do vary. There is no magic bullet.  

Maybe this sounds all too self-promotional. If so, my apologies. If you take it as such, then I'm probably not going to be able to change your mind.

However, for agents who are looking for solutions that will likely work going forward, instead of looking backward at a time when not much seems to work, this just might make a difference.

Chances are, as an agent, you will not hear about success on the Web from your mentors, since they are most likely ignoring the World Wide Web as a marketing tool. To hear about how this works, that will probably have to be from someone who does this on a daily basis. People like like Suzanne, Win, and the other agents who have used the WWW effectively and have been willing to post to this thread.

As to the search optimization aspects of Web marketing, it is still largely a wide-open opportunity for those willing to prusue it properly.

Best regards, 

Dirk Johnson
Partner - Operations
DomainDrivers LLC
djohnson@domaindrivers.com
703-406-4698
http://domaindrivers.realtown.com
We're an approved RealTalk/RealTown vendor:
http://DomainDrivers.InternetCrusade.com

To all,
 

It seems that the link to my post "Do You Need a Mentor Evaluation?"
does not produce the desired result.
 

Here's a link to the whole RT issue #180 that included my original
post
http://www.realtown.com/communities/digest/view/id/180
 

I hope this works.
 

Best regards,
 

Dirk Johnson
Partner - Operations
DomainDrivers LLC
djohnson@domaindrivers.com
703-406-4698
http://domaindrivers.realtown.com
We're an approved RealTalk/RealTown vendor:
http://DomainDrivers.InternetCrusade.com

Remember the days when every lowly executive had a private secretary who took dictation and did all your typing. Apple, Microsoft and the WWW goy rid of all that. Today every lowly executive must be a typist.

Remember when every real estate office had to have a very visible store front location so the walk ins could find you. Today they find you on the WWW before they even know you have an office. In the old days, even less than 10 years ago, every agent worked in the office because that is where the files and all the office equipment was. Today we all have our home office and some of us haven't been to the company office in a coons age.

Remember when MLS was a big book and advertising was in a local paper or a glossy magazine. Out of town buyers would subscribe to the local paper to find real estate companies and learn about the local real estate scene.

Remember when out of town buyers would come for a week to find a home. Now it is 2 or 3 days at the most, thanks to IDX, E-mail and the WWW.

Remember the old days (2-3 years ago) when there wasn't enough time in the day to take care of all those clients. To those who are still living in the old days and using the old ways, I hope your golf handicap has dropped 10 strokes if you can still afford to play golf.

One more remember when, the old days paying huge desk fees now called inactivity fees. You actually paid the privilege twice, once to your broker and your own home office expense.

Now who is surviving in this crazy market. Agents with their own websites, that don't rely on the company website or advertising to get new clients. Agents who don't have a big overhead like desk fees, coop advertising fees and a high split.

The question over the next 2 years will be, who will survive. The big firms with their mega overheads will be in big trouble and will soak the non producing agents for as much as they can get but in the end they will be much smaller, meaner and leaner. In the end their overhead is going to kill them and their agents. Our local Remax owner just filed personal bankruptcy with over $1.5 million in personal debt a good chunk of which was due to the current market trying to stay in business.

My own cyber brokerage is running along smooth, our only advertising is on the web, all agents get a 80% split and no fees. All agents work out of their own homes and can deduct it since I do not provide for an office.

The official office is my guest house. Have laptop will travel, we meet clients in hotels, their own homes or office or our own homes. We don't rent space for company meetings, we meet at my house or I do one on ones. All my agents are surviving, barely but they are and will the company survive, of course, there is no overhead to kill us.

And SEO gets us to the table, more rarely but it does and technology got us the clients, not floor duty or newspaper ads