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How Does CoreLogic RP Data’s New Comparable Sales Report Stack Up?

It’s a great tool for ‘touching base’ with your database

real-estate-agent-keep-in-touch-with-databaseCORELOGIC RP DATA RECENTLY RELEASED a new report that’s available to all real estate agents who are currently subscribed to the CoreLogic service. The report is called a Comparable Sales report and it’s part of CoreLogic’s new Signature Reports platform.

This reports platform draws on CoreLogic’s extensive property data sets to allow agents to generate reports that provide an overview of a particular suburb, including recent sales, trends, property images, and so forth. However, it’s just one of many similar services available —  so how does it stack up compared with what realestate.com.au and Domain provide? Here’s three things we can tell you about it: 

1. CoreLogic’s data is reliable and accurate

As the market leader for property data and insights, you can trust that CoreLogic’s sales data is accurate — it is used, after all, by media companies to generate the auction results they publish online and in their newspapers. The property portals, like realestate.com.au and Domain, however, rely on self-reporting from agents and scraping data from agent websites and other property portals. Furthermore, because many agents choose not to report the final sales price, there is a significant margin for error. CoreLogic, on the other hand, employs its own team of researchers who meticulously collect property data from several primary sources to ensure its accuracy.

2. CoreLogic’s Comparable Sales Report is automated

Yes, there is more information available at realestate.com.au or Domain, for instance, these sites include their suburb profiles, featuring information on demographics, the numbers of buyers looking for property, average days on market, and so forth. If you want that data using the CoreLogic Comparable Sales Report system, it would need to be pulled from those websites and imported into a compatible CRM that allows you to generate reports and brochures.

3. CoreLogic’s Comparable Sales Report is free and easy

If you’re subscribed to the CoreLogic service, which, let’s face it, most agents today are, then you already have access to their Signature Reports platform. This allows you to generate your own Comparable Sales Report, complete with your own agency logo, agent photograph and contact details.

The Comparable Sales Report is a great way for real estate agents to get new listings and stay in touch with homeowners in their database.


Virion is a digital agency that specialises in helping sales people, particularly real estate agents, build their online profile using content and digital marketing. This, in turn, helps salespeople grow their databases and obtain new listings.
It doesn’t matter how new to the game you are, or how little you know about online marketing, to begin building your online brand, contact our team to discuss which digital marketing options will work for you. Alternatively, to learn more about digital technologies that help real estate agents build an online presence, subscribe to our blog.

 

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Five Ways to Select a Trustworthy Real Estate Agent

Is your preferred agent who they say they are?

If you’ve been following this blog of late (if you haven’t, then you can subscribe here), then you may recall that in a couple of our recent posts we talked about the different tools that are available online to help homeowners find a reputable and trustworthy real estate agent. In one post we talked about the darling of lead generators and comparison websites, OpenAgent; in another, we talked about rating sites like RateMyAgent; and we’ve also discussed looking up an agent’s license using licensing databases in your state or territory.

However, we realise that, if you’ve never sold property before or it’s been a long time since you’ve had to go through the process of finding a real estate agent to sell your home, the process can be a little daunting. So we put together this roundup of the five steps you should take to ensure that you’re selecting the most reputable and trustworthy real estate agent to represent you.

Before we dive right in, we should point out that this list assumes that you’ve already done some rudimentary market research of your local area, and you have a couple of agents names in mind already:

1. Check the licensing register in your State

This is an important first step. Although it’s unlikely you’ll turn up anything untoward, on the off chance that you do, this will help you to discount that agent right away. This is especially important for people who are selling holiday homes or investment properties in areas they’re not very familiar with. You might even like to search for that agent in other states and territories apart from your own, just to make sure they didn’t get into any strife elsewhere before setting up shop in another state. The registers for each state are listed below:

Service NSW

Consumer Affairs Victoria

Regulated Industries, Licensing and Legislation Register Queensland

Department of Commerce WA

Agents Licensing Board NT

Consumer and Business Services SA

Property Agents Board Tasmania

Business and Industry Licensing Public Register ACT

2. Visit the agents’ websites

Do a search of each agent and see if they have their own website that’s separate from their agency’s corporate website. Have a look at the kind of information they provide on their website. Do they publish regular market updates? Do they provide any information about how they work? Have they answered a question or provided information about the sales process or current trends in the market that you found useful?

Give priority to the agents who see the value in providing buyers and sellers with helpful information based on their experience in the industry over the agents only interested in self promotion.

3. Check the agents’ social media accounts

Most agents have some social media presence, so don’t forget to check what they’re doing on Facebook and Twitter and so on, before appointing them as your agent. Look at their feeds to see how they’re interacting with other users online — are they responding to the inquires and comments that have been left for them there? What kinds of comments have people been leaving on their Facebook pages and tweeting to them?

Social media is usually the first port of call for people who are either really satisfied with the experience they’ve had with a business, or really dissatisfied. How an agent deals with both forms of feedback reveals a lot about their character and how they conduct themselves.

4. Read the reviews left on ratings websites

You’d check out the reviews left for a restaurant or hotel on Yelp or TripAdvisor, wouldn’t you? So why wouldn’t you visit a real estate ratings site, like RateMyAgent or RealSatisfied, to see what kinds of reviews have been left for agents there? Keep in mind that for both RateMyAgent and RealSatisfied, agents can pay the platform a monthly fee to manage their profile and the reviews left for them there. What control that gives agents over how they deal with negative reviews is unclear. You might also like to check TrustPilot, which is another ratings websites, though one that doesn’t specifically cater to the real estate industry.

5. Interview the agent in person

Once you’ve done all the online checks you can, it’s time to line up a meeting with your preferred agent (or agents), to see if they’re as impressive IRL (that’s in real life, for those of you playing along at home) as they are online. Don’t be afraid to tell the agent you’re still considering other agents — how they handle this comment will tell you a lot about the sort of person he or she is.

Quiz each agent about recent changes to legislation or real estate practices that might affect the sale of your home. The way they answer these questions should reveal to you how closely they monitor changes in their industry, and, in turn, how committed they are to CPD. This is the final step in deciding which agent is best suited to sell your property. You should also spend some time discussing commission, marketing options, sales methods, and other areas that will affect the sale of your home.

By the time you’ve worked your way through this checklist, you should be ready to appoint a real estate agent to sell your home — congratulations!

If you would still like to learn more about the real estate sales process, including how to manage inspections, offers and following up with buyers, you can download our free educational guide. Alternatively, for more real estate news, insights and analysis, subscribe to our blog.

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How Do RateMyAgent and RealSatisfied Compare to LinkedIn?

The truth about testimonials

In nearly every guide to selecting a real estate agent, homeowners are instructed to look at, not just an agent’s sales history, but also how satisfied the buyers and sellers who dealt with that agent in the past were. Most agents will include a few testimonials on their websites and in the shop windows of their offices, but those are mostly subjective, because they’ve been cherry picked from a stack of other similarly glowing reviews. People are more aware of this now, so they’re more sceptical about relying on testimonials supplied to them from the agent.

Enter two real estate agent ranking and review sites: RateMyAgent and RealSatisfied. Both services provide a platform for buyers and sellers to leave honest reviews, so that future vendors can use this feedback to make their decision about appointing an agent to represent them in the sale of their home. They also provide detailed statistics about each region throughout Australia, including the top agencies by market share, the number of recent sales in the region, and the number of active agents and agencies operating in the area.

Ratings sites offer tools for agents, too

For agents, a platform like RateMyAgent, which was developed in Australia, and is now in beta mode in the United States, where it plans to launch a US version of it’s service in September, provides a range of tools, such as the ability to broadcast reviews on the RateMyAgent website to your social media accounts, create listing reports that contain detailed statistics about recent sales history for prospective vendors and clients, connect RateMyAgent to your website and include a live feed of client reviews, and more.

Of course, there’s also LinkedIn, which allows agents to include much of the same information in their profile, and also has the capacity to handle recommendations from people they’ve worked with in the past. But LinkedIn is a tool that’s mostly used by recruiters to find staff, and is likewise used by individuals who are looking for work. While there’s certainly no harm in an agent creating their own LinkedIn profile and using it to connect with other professionals, it’s unlikely to help them generate new leads and get more listings.

Consider your online presence carefully

The internet is practically teeming with social media platforms and other tools to help businesses develop their online presence, but just because there’s a platform, like LinkedIn or Pinterest or RateMyAgent or something similar out there, it doesn’t mean you have to be using it to have success online. Remember that the more social media accounts and other platforms you’re active on, the more time you will need to spend keeping them up-to-date, even if many of them fail to deliver any new leads.

With this in mind, develop your online presence strategically by selecting the platforms and channels that are most relevant to you, your business or industry, and your clients, and only creating a profile on the ones that will help you to achieve your goals. Before investing time in a particular platform, look at its performance metrics and consider whether they’re aligned with your own business goals. If they’re not, then there may be other options that are more worthy of your time.

If you’re looking to kick start your online presence, using social media or a platform such as RateMyAgent, contact our team to discuss which options are best suited to you and your business goals. Alternatively, to learn more about digital technologies that help real estate agents build an online presence, subscribe to our blog.

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Is Facebook Going to Become the Next Big Thing in Real Estate?

What ‘data’ makes Facebook so valuable?

As the most successful and most widely-used social media platform in the world, Facebook has amassed a lot of data over its 12 years of existence. That data is what makes Facebook so valuable, but it’s also what guides its business decisions. Facebook knows what emerging trends will be the next big thing, before you could even conceivably call them emerging trends. It’s how they knew to acquire Instagram; to introduce online advertising; expand into news publishing, by developing its Instant Articles service. Facebook is also a major platform for businesses, because of its emphasis on building communities, with whom you can share and discuss information that’s important to you. And all that data Facebook has under its belt, makes it easy to target people not already a part of your community.

Indeed, Facebook is also a major focus of nearly every real estate agent we speak to when we’re discussing their digital marketing strategy. Every agent wants to be on Facebook, and given that it’s more popular than… well, to borrow a phrase from John Lennon, Jesus, it makes a lot of sense to be using Facebook as part of your content marketing strategy. But there are a lot of real estate services using Facebook in ways that have the potential to disrupt the real estate model even further than it already has been.

Using Facebook as a directory for real estate agents

All that data Facebook has under its belt, in addition to the sheer volume of people who use Facebook on a daily – if not, multiple times per day — basis, has made it a very useful platform for real estate businesses to create online directory resources that connect buyers and vendors with real estate agents. The American-based HomeASAP service is the number-one real estate agent directory on Facebook, with over 457,000 members in its directory. As a directory that also connects buyers with real estate listings, it has the power to change the way people look for and buy real estate.

Although real estate agent directories aren’t new — there are plenty similar services, like followit, Local Agent Finder, Agent Select, etc — HomeASAP is unique because it’s directory is hosted entirely on Facebook. Only buyers, vendors and agents with a Facebook account can access the directory, further evidence that Facebook has, itself, become a search engine in its own right. And because the service is hosted on Facebook, you’re able to capture more data than if a person were to anonymously visit your a website.

Could Facebook topple the Big Two property portals?

Facebook Social media and digital marketing to sell real estate and property in Newcastle, Central Coast and Lake Macquarie

Facebook allows agents to monitor who’s visiting their page, and it also provides them with a casual way of engaging with potential buyers and sellers who may not be ready to speak on the phone yet. This isn’t possible on a property portal — whether it’s an app or website. Sure, you can track them by inserting a line of code into your website, but they’re still anonymous until they give your their contact information.

With Facebook, you know who’s visited your Facebook page, and you can make contact with them by making a friend request. Because Facebook also makes it easy to share and disseminate information right from the platform itself, it has the potential to topple the property portals, which currently provides agents with little promotional or marketing opportunities, and likewise provides only very rudimentary statistics about who has viewed their listings.

Considering that, second only to Google, Facebook is the world’s most used website and is responsible for generating a quarter of all web traffic, it certainly has the potential to become a powerful player in real estate. If Facebook isn’t already a part of your content marketing strategy, you’re missing out on valuable lead generation opportunities, not to mention potential buyers who may be looking for their next home.

Success on Facebook begins with a successful strategy

Facebook is the ultimate social media platform, and even though it’s an effective platform to build your online profile and market your services to potential buyers and sellers, your success is still entirely dependent on whether you’re using Facebook in the spirit in which it is intended — a social network to connect with people and share information that matters to you, with the emphasis being on the word ‘social’.

To be social means to have a free flow of information that people will engage with, comment on and share within their own, wider social network. If you want to keep people engaging with the information you share with them, you need to create a strategy that starts a conversation and encourages others to continue that conversation.

Learn Digital Marketing or get our help

To use Facebook to begin building your online brand and find out which digital marketing tools will suit you and your digital marketing goals get a free digital marketing consultation.

Alternatively, learn about digital marketing in our online Digital Marketing Training Courses or read about technologies that help real estate agents build an online presence, subscribe to our blog.

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Build Your Online Profile Using a Mobile App

You can now create your own beautiful business apps

Now that property marketing has mostly moved online to property portals like realestate.com.au and Domain, a real estate agent’s ability to leverage their current listings to get new ones has been significantly eroded. This is a trend is set to continue as the real estate model becomes further disrupted by technologies that shift buyer behaviour from searching for properties, to waiting for a notification about one that matches their requirements. These days, if an agent is to build brand awareness from which they can generate new listings, they need to spend time building their profile online, and the best way to do that is to use content marketing.

Content marketing involves creating and publishing original and engaging content online. The content you create can be anything, from educational videos to informative blog posts to downloadable guides. But if you want to get really original and really, really engaging, you could even create your own app that you can use to push all sorts of content and notifications directly out to vendors and buyers alike.

Applications are the future of online marketing

Apps are where the future of online marketing is going, as more and more people use devices — like smartphones, tablets and even smart watches — rather than desktop computers and laptops to access information online. Applications also improve the user experience, while providing the developer with valuable information not usually available when a person simply browses a mobile version of a website.

Developing your own custom app is now increasingly simple, just as creating your own website is, thanks to WordPress and other such content management systems. An app development system like Flok, for example, allows you to easily create your own app — and a beautiful one, at that — and then promote it using social media, email and SMS marketing, with a built-in analytics dashboard to measure its success. Apps work best for businesses with repeat customers, so try to create your app with the goal of encouraging people to use it regularly.

It’s time to build lasting relationships

For too long, a lot of real estate agents have neglected to build lasting relationships with their buyers and sellers, seeing the sale and purchase of a property as a one-off transaction that’s not likely to come around again anytime in the near future. This was all well and good when people turned to newspapers, shopfront windows, and signboards to find out about a local agent in their local area, but this isn’t how the real estate model works anymore.

Agents need to prioritise building lasting relationships online, long before a homeowner has even considered selling their property, so that when they eventually do decide to take this step, there is only one agent they have in mind — you! If you produce content that covers both sides of the real estate process — buying and selling — then you’ll be able to capture the passive buyers that the market has lost since the decline of newspaper advertising.

Increase awareness of your brand by building relationships with other local businesses

If you haven’t already, reach out to local businesses in your area and build a reciprocal marketing relationship with them. With a service like Flok, you could sponsor a loyalty card for your local cafe by using the loyalty card app to give regular customers of your local cafe a free coffee. Use your branding on the loyalty card app and promote it, both in the cafe, on social media, and through your other marketing.

The best part about using an app, rather than a traditional paper loyalty card, is that for as long as the app is installed on a person’s phone, you can send them push notifications. You can also use it to collect email addresses, so you can continue marketing to them. Since everybody loves coffee, the uptake would be relatively swift and it would be used regularly, providing that you don’t use it to spam users with irrelevant marketing messages.

Success online begins with a successful strategy

Before you can begin using an app to sponsor your local cafe’s loyalty card, you need to create a strategy for capturing user data, determining their interests (i.e., buying, selling, renting), and being able to use content marketing that will cater to those interests.

To begin building your online brand, contact our team to discuss which digital marketing options will suit you and your digital marketing goals. Alternatively, to learn more about digital technologies that help real estate agents build an online presence, subscribe to our blog.

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Technology Savvy Real Estate Agents Get More Listings

Don’t be the loud-talker at the social media dinner table

Think about the last time you engaged someone to perform a professional service for you. Perhaps you were looking for a plumber, an accountant or, say, a digital marketing agency. How did you find them? In the case of the latter, I’ll go out on a limb and suggest that you probably did a search online and came across us that way. This is how the vast majority of people search for professional services these days and, as I’ve mentioned before, it’s how you’ll get your next listing, providing you’re technology savvy.

By technology savvy, I don’t just mean that you know how to use an iPhone or iPad. You’re not even technology savvy if you also know how to use a smart watch. To be technology savvy, you need to be shrewd in the way you use technology, and when it comes to finding and winning new listings, this means you’re using technology to market yourself and grow your online profile in ways other agents in your local area aren’t.

Technology savvy agents start with content marketing

To be technology savvy, you must build your profile online. Many people erroneously believe that building your profile online means creating a website, getting a Facebook account, and then that’s it. What they overlook is that a website needs stuff on it; that is, text, images, videos — in order to make it a website. That stuff is called content, and content is the same stuff that you post on Facebook that your friends like, share and comment on. Content marketing, then, is the publishing of stuff on your website, social media platforms, and elsewhere that you contacts will like, share and comment on, but which also markets you and your services.

The technology savvy part comes in when you determine precisely the kind of content you need to publishing in order to achieve your conversion goals. A conversion goal can be anything that results in the user taking a specific action — whether it’s signing up to receive a newsletter, downloading a market report, contacting you for a property appraisal.

If you have your own, personal Facebook account, think about the kind of content you publish there on a regular basis. It’s typically content that means something to you — typically, you either empathise with the message or you don’t — and that you know will also resonate with your friends and family and greater social network. This is how you need to approach the content you publish in a professional capacity. There is literally no exception to this rule. You must always publish content that is relevant to you and your customers (your vendors and buyers).

Publish original content across multiple platforms

Emphasis here on the word ‘original’. Don’t make the mistake of retweet or republishing content created by other people on your social media platforms. All this does is send all your hard earned traffic to an online behemoth, like realestate.com.au or smh.com.au or the like. Let them get their own traffic. Instead, you should create your own original content, by writing and publishing one or two blog posts a week or uploading a video blog or both. This way, when you push it out through social media and your friends and followers share it among their own social networks, you’re sending that traffic back to your website, not someone else’s.

If you’re going to use social media and, although I caution you to select your social media platforms wisely, I strongly advise you do use social media, you need to ensure you’re using it correctly, otherwise you needed bother. I’ll go into this in more detail some other time in a separate blog post, but the general rule of social media is to be social.

Think of it as a dinner party. You’re sitting around a dinner table with a few friends, acquaintances, and a few other people you’ve never met before. Everyone is chatting and getting along merrily, until some loud-talker enters the equation. All he’s interested in doing is talking about himself. He doesn’t engage with others when they try to engage with him. Instead, he constantly pushes his own agenda, on myriad irrelevant topics, often talking over others as they try to speak. Eventually, everyone gets up and moves somewhere else, leaving loud talker on his own.

Don’t be antisocial on social media

That’s the dinner party equivalent to someone on Twitter or Facebook publishing the same irrelevant tweets or posts over and over and over, without stopping to see if anyone actually cares or finds the content relevant. It’s the Facebook user that never responds to comments left on their page, or makes an effort to connect with others on Facebook. It’s the Twitter user, who doesn’t retweet or like tweets by their followers, because they’re too busy pushing out spammy tweets about their business.

Whatever you do, don’t be that guy; don’t be the loud-talker at the dinner party everybody runs away and hides from. Remember that social media’s primary reason for existence is as a way for people to communicate and keep in touch with each other — to be social. Use social media and your content to start conversations with people, and then make an active effort to keep those conversations going.

Master all that, and you’re well on your way to being the technology savvy real estate agent who gets the most listings. If you’re looking to build your online presence to gain new listings, get in touch with our team to discuss the ways you can begin building your online brand. Alternatively, to learn more about digital technologies that help real estate agents build an online presence, subscribe to our blog.

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Our Pick of the Best Real Estate Agent CRMs

Specialist CRMs exist for real estate agents

A real estate agent’s most valuable sales tool is their database, and selecting the right customer relationship management (CRM) system to manage and develop their database is critical. But until recently, when cloud technology revolutionised the software industry, a lot of agents were reluctant to spend the time and effort on a CRM that didn’t work the way they worked: mostly out of the office, during which time they could be in contact with a hundred or more buyers, and more than a couple potential new vendors.

Writing down names and contact details for buyers and vendors, and then entering them into your CRM later that day (or week), just doesn’t cut the mustard anymore. Fortunately, in the last few years, a number of CRMs have been introduced to the market that have been developed specifically for the real estate industry. So here’s our roundup of the best real estate CRMs, regardless of the agent.

Complete turnkey solutions for agents and agencies

LockedOn

Used by some of Australia and New Zealand’s leading real estate franchises, including McGrath, Ray White, LJ Hooker, First National, and so on, LockedOn is a complete turnkey solution to an agent’s entire sales and marketing needs, and includes features like:

  • iPad app
  • one-click portal exporting to Australia’s leading real estate portals
  • transaction management
  • vendor reporting
  • SMS and email marketing
  • sales and marketing presentation templates.
Agentbox

Agentbox is another turnkey solution, used by a number larger independents across Australia, including REIA Chairman, John Cunningham’s agency, Cunninghams Property, and large franchises, like Belle Property. Agentbox also offers website design to ensure seamless integration between website and CRM. Agenbox’s features include:

  • portal exporting
  • mobile apps
  • transaction management
  • prospecting tools
  • property alerts for buyers
  • SMS and email marketing
  • vendor reporting
  • property stocklists
  • brochures and window card design.
Rex

Rex is yet another turnkey solution, built for the Australian real estate marketplace, and with features that can be turned on and off as they’re needed. Rex also offers web design services, as their software works best with a Rex website. Rex’s features include:

  • prospecting tools
  • listing management’
  • financial and transaction management
  • contact management
  • sales management
  • email marketing
  • reporting and analytics
  • newsletter design.

Simple, no fuss CRM for agents

Fortuna

Fortuna’s basic CRM starts as a free software download, suitable for both Windows and Mac, which integrates with Dropbox for cloud access to your data when you’re on the go. Once you exceed your 50 record limit, you can then upgrade to a paid version. Fortuna was developed in the US and has been modified for the Australian marketplace, so there are elements of Fortuna that may not suit Australian agents. Fortuna’s features include:

  • contact management
  • email and SMS marketing
  • reporting
  • correspondence logging
  • open home alerts – paid
  • PDF brochure design – paid
CreataCRM

CreataCRM is an Australian, cloud-based CRM company that’s free if you choose to host the software yourself (in the cloud), otherwise, for a competitively-priced monthly fee, CreataCRM will host the software for you in the cloud. Although not specifically developed for the real estate industry, CreataCRM is developed for the Australian marketplace. CreateCRM’s features include:

  • email marketing design and automation
  • tablet and mobile view
  • workflow development
  • sales activity and reporting
  • MS Office, MYOB, Xero, Quickbooks integration
  • quote and invoice generation
  • lead tracking
  • project and task management
  • SMS marketing
  • contact management
  • VOIP CloudPBX integration

Virion’s top CRM tip

Ever since CRM systems moved into the cloud, and particularly now that most of them can be accessed through a smartphone or tablet app, the marketplace has been flooded with CRMs specifically targeting the real estate industry. So, while we’ve rounded up some of the best and most-functional CRMs that suit the Australian real estate industry, it’s by no means a complete list. There are plenty more out there.

If you’re searching for a CRM to suit your needs, as an agent or for your whole agency, it’s best to look at the features you value most and find a CRM that integrates with your existing infrastructure (like your website) as well as your existing internal processes and systems, your marketing agency, and so forth. Some agents may not need portal exporting or email marketing and brochure design, because they already use the Campaign Track software, for example, while others will.

We think most agents would agree that, while managing your database is important, it’s of far greater importance to get the listings first, which is something Virion excels at. If you’d like help building your online brand, by establishing yourself an authority in your local area, contact our team today. Alternatively, for the latest news, analysis and insights that’s shaping the real estate industry, continue reading our blog.