Dan Forsman highlights new technology innovations that could disrupt the real estate industry.
Good Morning, Dan Forsman here –
Congratulations to everyone who participated in our MEGA Surge Impact Activities. On Sunday, we had over 300 open houses and Monday our branches hosted powerful MEGA Monday Follow Up events. The pre-event marketing and follow up are the keys to building your sales pipeline to finish strong in 2017. Remember, our final MEGA Open House event of the year will be Sunday, November 12th – so start getting ready now.
Our MEGA Open House marketing has been very effective. Our Zillow ads are very effective with Zillow being the #1 source of where visitors find our open houses. We tested the new Boost Facebook and Instagram ads from HomeSpotter. These allow our agents and clients to see the ad and share to their social media. Agents and their seller clients loved seeing the engagement from likes, comments and shares. After the campaign, agents get a summary including the identity of the people who engaged. We recommend using Facebook Messenger to reach out to them as a follow up. We also had success using open house events on NextDoor and events on Facebook plus all the activities from our MEGA SURGE Impact Activities. Agents sent videos, used door hangers, dropped off Buyer Market Analysis and actually made phone calls! This powerful mix of old-school proven techniques and new-school innovations generate more open house visitors and more potential clients from the pre-event and post-event marketing.
While we are talking about new innovations, don’t forget about the potential disruptors coming our way. In our last few Real Estate Redefined videos we covered iBuyers including Opendoor, Knock, OfferPad and Redfin Now plus potential disruptions coming from artificial intelligence, robotics, augmented reality, virtual reality and 5G speeds. Today we wanted to share some new information.
For iBuyers, our research now shows that the average price they offer to buy a home is around 93% of market value. Opendoor is charging a 10% commission. OfferPad is charging around 8%. They are also being very aggressive with repair charges to get the seller to pay so they can get the property in the best showing condition when they turn around to resell the property. If you do the math, we can clearly generate a higher net result for our clients. If you know the facts and talking points, you can win every time against iBuyers. If you need further details, information is available on our Agent Intranet or by contacting your Managing Broker.
Last week, we shared the changing expectations of a digital experience highlighted in the upcoming movie Ready Player One. Another related disruptor we need to be aware of is the collection of our personal information. Did you know our phones are listening? Ever had a conversation and then saw an ad based on the conversation you just finished? If your microphone is on, some of your apps are listening! Unless you are really detailed about your settings and controls, they are capturing your information, social profiles and patterns. Then, companies are using this information to sell you something or selling the data to other parties. We also need to be aware that our client’s personal information can also be captured. Our organization is launching a major data security initiative in addition to our cyber security programs. We are entering a brave new world and digital data is everywhere. Our job is to help our associates take advantage of these new opportunities plus protect agents and clients from potential threats.
After this week, we only have 10 weeks left in the year. As we move toward the holiday season, I want to challenge you to do two things in parallel. First, continue to prioritize consistent lead generating activities. The holiday season is the best time to connect with people and plant seeds for early spring listings. Second, you need to start working on your 2018 strategy and business plan. We will be kicking off a Business Plan SURGE campaign to help you in the next few weeks.
I want to thank you for watching our Real Estate Redefined video series. Remember, every day in every way, you can keep getting better and better!