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Boost Your SEO Rankings with a .realestate Domain
Search engine rankings can make or break your online presence, and many real estate professionals are looking to juice their digital marketing in creative ways to stand out from competitors. More and more top-level domains other than the usual .com are emerging in online search results—including the .realestate domain. These domains enable professionals to highlight their expertise right in their web address, and that can help home buyers and sellers find you faster online. Search engine optimization is the key to unlocking the full potential of your online presence. While traditional .com domains have been the go-to choice for many kinds of companies and professionals, a .realestate domain offers a unique edge for anyone working in real estate. It's not just a web address; it's a strategic move to enhance your visibility in the competitive real estate arena. Even if you've mastered the basics of SEO, you can still improve your online visibility. It might be time to consider the not-so-secret weapon: a .realestate domain. Geospecificity and Search Engines Search engines love specificity. They thrive on understanding user intent and delivering relevant results. This is where the power of a .realestate domain comes into play. By incorporating location-specific keywords into your domain, you're signaling to search engines that your content is not just real estate-related but is directly tied to a specific area. For example, a domain like YourCity.realestate speaks volumes to search engines about the geographical focus of your content. Potential clients searching for real estate in that area are more likely to stumble upon your website, increasing your chances for more leads and referrals. Did you know that NAR members also get a custom .realtor™ domain free for the first year? A .realtor™ website is a great way to instantly let the world know who you are and what you do. Secure yours at get.realtor and set yourself apart from the .COMpetition! Learn From Pros Like You Most home buyers start their search online, looking for properties in specific cities, neighborhoods and school zones. With a geotargeted .realestate domain, like Lisa Kunkel's CranberryTownship.realestate, you'll position yourself as the local expert. That's more potential leads for you. With her .realestate domain, Kunkel, an agent with Keller Williams Realty in Wexford, Pa., has crafted a localized online experience that's both captivating and informative. "Registering the website and .realestate domain name has been a great help," she says. "I am on my fourth transaction in the area since I started using a .realestate domain in the past year." A Magnet for Buyers With .realestate, you can have as many domains as you want—and each one includes a free website that you can upgrade with features such as video and home search to attract buyers. Think about all the places your buyers search, and set yourself up as the go-to agent with a customized .realestate website for each. Plus, with your free .realestate website, you get a special neighborhood template designed for geospecific domains like Kunkel's. These built-in templates maximize your website's SEO potential and capture more lead traffic for your business. Don't miss out on the opportunity to revolutionize your online presence. Boost your search engine rankings with .realestate domains that help you become the go-to real estate professional in your area. Start your search today at get.realestate. For more information or to get your website, visit get.realestate. To view the original article, visit the get.realtor blog.
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Elevating Client Experience through Real Estate Drip Campaigns
As a real estate professional, it's important to provide your clients with a smooth and stress-free experience. One way to achieve this is through good communication and the use of helpful tools like email drip campaigns. These campaigns can help keep your clients informed throughout the process and make things easier for you and your clients. Let's explore how they work and how they can make your clients' real estate journey more enjoyable. Unlocking the Potential of Drip Campaigns Segmentation and Personalization: Imagine this: You get a message from someone who is interested in your services in finding a new home. Your customer relationship management (CRM) system quickly identifies this lead as 'New.' Through automation, your CRM then sends a personalized email from you to welcome them, introduce yourself, and highlight your skills. This way, you can get off to a great start and show them that you're the right person to help them find what they're looking for. Progression through Transactional Phases: Let's say this lead shows interest and submits an offer for a home. As you update their status to 'Submitted Offers,' your CRM seamlessly transitions to a new drip campaign. This campaign enlightens them on the negotiation process, explains what occurs after an offer is made, and sets clear expectations for the upcoming steps. Closing and Post-Closure Support: With the offer accepted and the transaction labeled 'Under Contract,' your CRM prompts a new campaign. This campaign acts as a guiding beacon through the closing process, preparing your clients for inspections and outlining steps before the final move-in day. Upon successful closing, transitioning to 'Closed' prompts a post-closure campaign. It shares insightful home maintenance tips and local recommendations and expresses heartfelt gratitude for their trust in your services. Implementing Best Practices for Drip Campaigns in Your CRM Strategic Content Curation: Customize your content to cater to different transactional phases. For instance: During negotiations, provide clarity on counteroffers, offer tips to strengthen offers, and outline potential contingencies. After closing, offer resources for setting up utilities, recommend local service providers, or send a personalized 'Thank You' note. Automation for Streamlined Workflow: Harness your CRM's automation features to schedule emails or messages at specific intervals aligned with the transaction's progress. This automated approach ensures consistent and timely communication, elevating the client experience. Elevating Client Experience through Strategic Drip Campaigns The power of well-planned drip campaigns in your customer relationship management (CRM) system can be seen in real-life situations. By sending out personalized messages that align with each step of a customer's journey, you can make their experience smoother and show them that you are there to support them. These best practices are not just about using automatic messages but also about building trust, demonstrating your expertise, and ensuring that your customers have a seamless experience in the complex world of real estate. Mastering the art of drip campaigns in your CRM system can help you build long-lasting relationships that will keep your business successful as the real estate market changes over time. To view the original article, visit the Wise Agent blog.
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Getting Started with Cloud Agent Suite
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Anticipating Market Trends: A Data-Driven Approach for REALTORS with RPR
The real estate market is known for being dynamic, with prices and inventory levels constantly changing. For REALTORS®, the key to success is making well-informed projections based on solid data. RPR (Realtors Property Resource®) serves as an invaluable tool, offering a depth of historical and current market data that can provide clues to what lies ahead. In this article, we'll explore how leveraging RPR Market Trends and other vital data points can inform the decision-making process and help you craft strategies that align with the expected ebb and flow of future market conditions. The Predictive Power of Historical Data While historical data isn't a blueprint for the future in real estate, it often provides valuable clues that can help shape our forecasts. By analyzing past and present data, REALTORS® can recognize signs of what's to come. For instance, a consistent decrease of Median Days in RPR in a specific area can indicate increasing buyer interest, prompting a strategy to price new listings competitively. Key Market Trend Indicators for Anticipating Future Changes When starting, there are so many metrics to choose from, but two key indicators stand out: Month's Supply of Inventory and List to Sold Price averages (the average percentage difference between listing prices and final sale prices). These figures do more than summarize the past—they showcase potential future developments. Months Supply of Inventory Months Supply of Inventory indicates how long the current inventory would last at the present sales rate if no more listings were added. A low number suggests a seller's market and a high number points toward a buyer's market. Take, for example, an inventory that decreases over consecutive months—this trend could signal a growing seller's market. By recognizing this early, a REALTOR® might advise sellers to list sooner or buyers to act fast. RPR's graphs turn complex data into visual stories that are easy to read and act on. Average List to Sale Price Looking at past List to Sold Price Average Percentages offers a clear picture of the market's bargaining behavior. If this percentage rises, sellers gain more negotiation power, and listing prices should be set accordingly. Average Sold Prices serve as the benchmark—when aligned with a specific neighborhood's pricing trends, REALTORS® can more accurately advise clients on offers to make or accept. Time on Market and Seasonal Forecasts Median Days in RPR can be a powerful metric to estimate better how quickly properties will sell in the future. A downward trend typically indicates increasing demand, leading to a faster-paced market. For instance, a REALTOR® observing a shortened time on the market during spring can capitalize by listing properties when buyer activity begins to climb. Seasonal graphs in RPR help predict these cyclical shifts, aiding in timing the market perfectly. See Market Trends in Action: Get a close look at the dynamic real estate landscape with RPR's Market Trends. Short-Term vs. Long-Term Market Changes Market analysts know the devil is in the details of short-term (last month) and long-term (12-month changes) trends. While the former offers a snapshot, the latter shows the market evolving. For example, if condo sales are on the rise over the last month, but single-family homes have seen steady growth over a year, REALTORS® can tailor their property focus and marketing campaigns to align with these trends. Incorporating Additional Economic Indicators No market exists in a vacuum. Supplementing RPR data with additional economic indicators like mortgage interest rates or local employment stats paints a more complete picture. For instance, a low unemployment rate might encourage higher listing prices due to increased buying power—RPR's integration of these economic elements ensures REALTORS® have a comprehensive view. Take Market Trends Further: For those eager to dive deeper into Shareable Market Trends, there are lots of resources available. Visit RPR's learning center for a webinar, tutorials and ebooks that will sharpen your analytical skills. Use RPR's Historical Data to Anticipate Future Market Trends Predictive analytics is no longer just an advantage—it's necessary for REALTORS® who want to thrive in a competitive marketplace. By interpreting RPR Market Trends, you'll understand where the market has been and, more importantly, where it's headed. Embrace RPR's historical data to create a vision for the future, and let its powerful insights inform your strategic decisions. To view the original article, visit the RPR blog. Related reading 'How's the market?' Learn how to respond with RPR Market Trends Elevate Your Business with RPR's Master the Market eBook Series How to Spark Real Estate Conversations with Friends, Family, Clients and Prospects
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Buyer's Market vs. Seller's Market: The Key Difference
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Agent SEO Basics
Multiple dates In this short session, you'll learn what search engine optimization is and how it works, specifically for real estate, and how you can implement easy strategies yourself, without the need to pay an expensive professional. We'll learn techniques for increasing the visibility of your listings; how you can make them easily found and indexed by Google and all other search engines. We'll look at strategies for making your profile stand out from every other agent. This session will teach you how to implement these methods to help you get found by anyone searching for an agent. Register now!
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Real Estate Slogan Ideas: Catchy and Creative
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The Benefits of Partnerships for Real Estate Agents
Navigating the intricate world of real estate requires agents to orchestrate a delicate dance between buyers and sellers, all within the cutthroat confines of a fiercely competitive industry. Thriving in this environment demands perpetual innovation and a keen eye for untapped opportunities. One such avenue of potential is the power of partnerships. In this post, we'll delve into the myriad benefits these collaborations can bestow upon real estate agents while spotlighting some compelling instances. Buckle up for a journey through the perks of partnerships! Expanded Network and Exposure Real estate partnerships act as a gateway to an augmented sphere of influence and an extended network of potential clients. Picture this: Two agents or firms joining forces, opening the floodgates to each other's client databases, and catapulting listings into a wider audience. This synergistic approach not only broadens exposure but also unlocks new markets previously beyond reach. Take, for example, the partnership between Berkshire Hathaway Home Services and Nest Seekers International. This collaboration not only facilitated access to luxury listings but also opened doors to diverse clientele, resulting in boosted sales and successful market penetration. Pooling Resources and Skills Sharing resources and expertise emerges as a pivotal advantage of real estate partnerships. The amalgamation of marketing budgets and technological prowess can birth unparalleled efficiency and superior customer service. Consider the collaboration between Boston Logic and William Raveis Real Estate, culminating in a bespoke CRM system streamlining the entire transaction process. This partnership harnessed the collective resources and expertise of both entities, delivering substantial value to agents and customers alike. Fostering Collaboration and Innovation Beyond the realm of shared resources, real estate partnerships catalyze collaboration and innovation. The confluence of ideas and tactics propels the creation of novel products or services, pushing boundaries that a solitary entity might find insurmountable. Look no further than the partnership of Zillow and Realogy. This powerhouse collaboration birthed a platform elevating transparency in home buying. By synergizing Realogy's industry acumen with Zillow's online real estate prowess, the partnership empowered buyers and sellers with unprecedented information and transparency. Elevated Brand Recognition and Authority Partnering with established businesses or agents is a surefire strategy for enhancing industry authority and brand recognition. Collaborating with reputable entities allows agents to leverage existing reputations and networks to fortify their own brand. The alliance between Citi Habitats and the Corcoran Group is a case in point. By capitalizing on each other's strengths, both businesses expanded their market share and recognition. Corcoran agents gained access to Citi Habitats' rental listings and client database, while Citi Habitats agents tapped into Corcoran's technology, marketing tools, and management systems. In summation, real estate partnerships present agents with a cornucopia of advantages, from amplified exposure and network expansion to collaborative innovation. By forging alliances with fellow agents or firms, individuals can share resources and skills, pioneer novel products, elevate brand recognition, and venture into uncharted markets. The examples provided underscore how successful partnerships yield substantial benefits for all involved parties. For real estate agents eyeing business growth, exploring partnerships is not just an option but a strategic imperative. To view the original article, visit the Transactly blog.
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The Magic of RPR Commercial: Search, Site Selection and Prospecting
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5 Habits You Can Stick to for a Consistent and Engaging Social Media Presence
As a real estate pro in this modern, smartphone-centered day and age, you already know how crucial it is to have a solid online presence. But it's not enough to simply sign up for a social media business profile, post here and there, and kick up your feet. You must draw audiences in and let them know you're always available through your social media profile. It's not another task to add to the pile; it's your real estate business's social media presence, an important pillar for your brand and your success. Why You Need a Strong Social Media Presence Social media is a unique beast: it's where impressions are made, influence is grown, and consumer opinions and actions are completely swayed. It's also a crucial piece of the real estate puzzle. After all, prospective clientele might be browsing your profile, so you want to ensure you're consistent and engaging. As we said, it's not just to check a box. On social media, you're not just competing for space with other real estate agents, you're competing with countless other online users, influencers, famous figures, and business profiles. It's not to discourage you; the algorithms used by social media profiles will help ensure your content is seen by users who would think it's relevant. 5 Impactful Habits to Help You Form a Consistent and Engaging Social Media Presence So, how exactly can you cut through the social media noise? Enter: being consistent and engaging. By posting and updating consistently, and engaging with interactions you receive, the algorithm will be more likely to push your content so the same audience — and similar ones — will see your posts and updates more often. In turn, your engagement increases, and your social media presence grows. It's not as hard as it sounds, and we'll guide you with these five easy, impactful habits you can start using to accomplish just that. 1. Set a Reminder on Your Calendar We're emphasizing easy, so start with a bite-sized first step. Go over to your work calendar and block out 15 to 30 minutes in the first half of the day and the second to engage on social media. Leave comments, like or react to posts, respond to messages — you get the idea. Then, block out at least one hour per week you'll dedicate to creating content. Aim to create content that speaks to and resonates with your target audience, is educational, and makes people want to engage with what you post. 2. Create Content That Makes People Want to Engage How can you make content that spurs action, inspires users, and gets engagement? One recommendation is to create content from a place of authenticity. By being authentic on social media, users will feel more like they can relate to you, and be more likely to engage with what you're posting. Create polls or ask for questions on your Facebook posts or Instagram Story. Post a brief video on your opinion on the latest real estate trends, or your take on market shifts in your local area. Or, share your very own curated local guide to the best things in your ZIP code. Use hashtags to help these posts get found more easily, post these types of content consistently, and watch as engagement rolls in. 3. Use a Content Calendar and Use it Regularly Consistency is key to cutting through social media noise. The more you post, and the more engagement you capture, the more likely the social media algorithms are to push your content to broader, but relevant, audiences. Download a content calendar template, fill it out, and stick to it. Using a content calendar will help you keep your content ideas in one place so you know what to create, and will also help you stay on the straight and narrow of posting on a regular basis. 4. Leverage Your Daily Life for Content Creation Inspiration If you're still scratching your head on what you can possibly create for social media content, or if you're ready and raring to fill up your shiny new content calendar, consider using your own daily life as a real estate pro to create content. Record your latest listing or open house with your smartphone, snap a quick shot of your latest clients in front of their new home, or consider recording a day in the life of a real estate agent. These are just a few ideas to get you going, and we know you have a ton more. So use them! 5. Respond, React, Reshare You've got content creation and posting down pat, so don't forget to actually engage. When people comment on your posts, respond to each one and give it a thumbs up. If you get a direct message, respond to it as promptly as you can — or even use it as an intro to take the conversation offline. Engage with similar real estate creators, in your niche or industry or even industry-adjacent pros, like loan officers or home construction builders. Think of this like fostering your digital community, especially as it opens the door to even more engagement with your social media presence. Ready, Set, Post! To view the original article, visit the Inside Real Estate blog. Related reading Mastering Instagram: Best practices for real estate agents A TikTok Trend to Revamp Your Pipeline: Tap Into the Triangle Method How Real Estate Agents Can Build a Professional Network on LinkedIn
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Real AI: ChatGPT adds memory, Trying Perplexity.ai, facts, headlines and a Quote of the Week from Google
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Dotloop Advanced Agent Training
Multiple dates Experienced looper? Join our advanced training session to learn about popular features that will help you streamline transactions even further. How to create form templates How to create task lists How to create an "Easy-Offer" link How to link to a listing with offers How to create a loop via email How to email into templates Register now!
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Friday Freebie: One Month of a .realtor™ or .realestate Premium Website
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[Podcast] Insider Tips for Agents, Buyers, and Sellers with Melissa Herdman
Ever had a buyer quit their job on closing day? Realtor Melissa Herdman has, and she shares her story in Leigh Brown's aptly named podcast, Crazy Sh*t in Real Estate. But that's not all that Melissa and Leigh discuss. Tune in to hear Melissa's wise advice for both agents and clients trying to weather this crazy market, as well as: Reasons to get into real estate Keeping agents happy and building a great brokerage culture What buyers should keep in mind during closing Why there's truth in that old saying, "Everything happens for a reason" About Melissa Herdman Melissa Herdman is a full-time REALTOR® and a lifetime resident of Osage County. She is currently the supervising branch broker of Kirk and Cobb REALTORS® and is a Certified Residential Specialist. She graduated with a degree in Bachelor of Science in Nursing at Washburn University of Topeka. She proceeded to have her Master of Science in Nursing at the University of Kansas Medical Center. She is a member of the National Association of REALTORS®, among several other organizations. Listen on: Apple Podcasts Google Podcasts YouTube View the episode homepage for show notes and more details.
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Creating a Killer Agent Profile
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Supercharge Your Lead Generation: Proven strategies for real estate agents in 2024
Need help to keep up with real estate lead generation? As an agent, you need top-notch leads in a competitive market. In 2024, effective lead-gen strategies are crucial. Stay ahead and adapt to attract and convert leads into valued clients. Ready to embrace innovative approaches to thrive in today's market? Let's explore strategies for sustainable growth. Understanding the evolution of lead generation The lead generation landscape in the real estate industry has undergone a significant transformation over the years. Understanding the historical evolution of lead generation methods to adapt and thrive in the modern market is important. Traditional lead generation methods Traditional methods like cold calling and direct mail generated leads in the past. But with changing consumer behaviors, these techniques can be time-consuming, costly and met with skepticism when trying to reach a digitally savvy audience. Digital transformation in lead generation The digital revolution has transformed real estate lead generation through platforms like social media, SEO and online ads. Using digital strategies allows you to reach a wider audience, connect with prospects personally, and attract leads through targeted campaigns. Embracing digital helps streamline lead generation processes, lower the cost per lead and remain competitive. Understanding the evolution of lead generation from traditional methods to digital platforms is pivotal for maximizing your reach and generating quality leads in 2024 and beyond. Leveraging data and analytics for targeted leads Leveraging data and analytics has become imperative to stay ahead. By harnessing the power of customer relationship management (CRM) systems and analyzing market trends through predictive modeling, you can gain a competitive edge in reaching potential leads and maximizing conversions. Utilizing customer relationship management (CRM) systems Embracing CRM offers numerous benefits. You can unlock a treasure trove of advantages that can elevate your interactions with customers. Dive deep into your prospects' preferences, effortlessly streamline tasks, and shift your energy toward forging meaningful connections that drive growth. Check out how companies like LionDesk and HubSpot CRM systems can revolutionize your customer interactions and supercharge your success. Analyzing market trends and predictive modeling Analyzing market trends and using predictive modeling helps you find potential leads and forecast buyer behavior. Integrating data and analytics into your lead generation strategies allows you to understand consumer behavior and tailor your outreach to specific demographics. Building an engaging online presence In today's digital landscape, an engaging online presence is vital for attracting and converting leads. Let's dive into the key strategies and elements contributing to a compelling online presence. Optimizing search engine visibility Enhancing search engine visibility through strategic SEO practices can help boost your online presence. In practice this means optimizing your website by incorporating relevant keywords, creating valuable content and ensuring mobile responsiveness. By prioritizing local keywords, meta descriptions and high-quality backlinks, you can significantly increase organic traffic to your website and generate more leads. Content marketing strategies Content marketing is key for building authority and attracting potential leads. Connecting with clients through blog posts, videos, and virtual tours is a key opportunity to generate leads. Valuable content showcases expertise and builds trust. You can nurture relationships and drive conversions by consistently delivering content that meets client needs. Nurturing leads with personalized communication In today's real estate market, building and maintaining relationships with potential leads is crucial. Personalized communication helps nurture leads and convert them into loyal clients. Use automated workflows and social media to connect with potential buyers and sellers more effectively. Implementing automated lead nurturing workflows Automated workflows are great for nurturing leads. They help you stay in touch with leads through automated email sequences, follow-ups and targeted content. This saves time and ensures that prospects receive relevant information. Tailoring content and timing can effectively guide leads through the sales funnel, increasing conversion likelihood. Utilizing social media for relationship-building Social media platforms offer a unique opportunity to engage with potential leads personally. You can establish yourself as a trusted advisor in the real estate industry by sharing valuable and relevant content on platforms such as Facebook, Instagram and LinkedIn. Engaging in discussions, answering questions and sharing success stories can boost your credibility and trust. By consistently connecting on social media, you can stay top-of-mind and build lasting relationships with potential clients. As a real estate agent, you must embrace a multifaceted approach to lead generation in 2024. By integrating traditional principles with modern technologies, you can expand your reach and engage with potential clients innovatively. It is crucial to stay adaptable and continuously evolve your strategies to align with emerging trends and consumer preferences. By doing so, you can position yourself at the forefront of lead generation efforts and drive sustainable growth in our businesses. Here's to a successful year ahead! Ready to explore iGUIDE floor plans and 3D virtual tours? Find a service provider to get started today! To view the original article, visit the iGuide blog. Related reading 10 Ways Real Estate Agents Can Stand Out Online 11 Ways to Maximize Your Real Estate Listing Exposure Optimize Your Online Listing (A 3-Part Series)
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How to Win Buyers with a Killer Listing
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How Real Estate Agents Can Use AI to Manufacture Inventory
Real estate is rapidly integrating Artificial Intelligence (AI) into its operations. A recent survey by Delta Media found that 75% of top brokerages already use AI, and almost 80% of their agents have adopted AI tools. Top agents are among the earliest adopters of this transformative technology, working AI into their daily workflow to create content, analyze market trends, and enhance customer service. However, the rapid advent of AI applications is occurring at a pace that is getting harder for agents to keep up with. Still, if you do, you have a unique opportunity to use AI to significantly expand your business, engaging existing clients and prospects in a new way that didn't exist six months ago. Real estate's AI revolution AI's impact on real estate is profound, offering you tools that automate mundane tasks, predict when clients are ready to buy or sell, and help you streamline your marketing activities and increase your time for clients. This technological leap can help you analyze vast amounts of data for actionable insights. As these tools evolve, the more you find ways to use AI, the more you will set yourself apart from your competitors and in the minds of your clients. Revive Vision AI for "listgen" Among the array of tools available, Revive Vision AI emerges as a new tool for agents looking to solve the low inventory challenge in their markets. It is an AI tool that can help you, as an agent, manufacture inventory. You have a website and social channels for "lead gen" or lead generation; think of Revive Vision AI as "list gen" – your listings generator. This AI-powered platform allows you to showcase the financial benefits of home renovations to homeowners, potentially unlocking hidden value without any initial investment from them. By illustrating the potential returns on strategic improvements, you can motivate clients to list their properties, creating new inventory from homes previously not considered for sale. How to manufacture listings Revive Vision AI allows an agent to show a client who may not even be thinking about listing their home for sale how much money they could earn – without investing a dime of their own funds up front – by making key renovations on their home. Once the client sees how much money they can make – Vision AI shows them in real-time based on an actual budget – an agent can use this tool to manufacture listings. You know your clients, including those with life events that might push a home to market: a new baby, kids leaving for college, or getting close to retirement. These clients are likely to sell and are worth reaching out to. However, the key to reaching out to show them what this new AI tool can do is with an approach like this: Call a client and share a recent success story. Your goal is to pique their curiosity. The pitch: "Hey, we just helped a family that just became empty nesters with their youngest kid leaving for college in Arizona. We spent some time discussing where they were in their real estate and using this new AI tool; I had to show them how much equity they had in their home and how much more they could have by looking at what AI suggested. They got a lot out of our meeting and found a way to increase their home's value way beyond what they thought it was worth. I feel like you would benefit from seeing this, too. Are you open to setting up some time — perhaps lunch next week — just to talk so I can explain everything?" Cultivating client relationships with AI This approach can work because the essence of real estate remains in building and maintaining strong, personal client relationships. AI can help you build client trust by increasing the expertise and advice you can provide, delivering deeper insights and recommendations based on detailed data analysis. As an agent, your role as a true consultant is enhanced when you leverage AI to provide tailored advice that aligns with your client's life stages and financial goals. Initiating meaningful conversations Incorporating AI into your practice is not just about data analysis; it's about using those insights to spark meaningful discussions. By presenting AI-generated information in a relatable way, you can connect with clients on a deeper level, addressing their unique circumstances and what is happening in their lives. Engaging clients The interactive nature of AI tools like Revive Vision AI invites clients to participate actively in the valuation and decision-making process. Encouraging homeowners to provide photos as part of the process fosters a collaborative environment. It also makes technology feel more accessible and worth experiencing. This hands-on involvement demystifies AI and shows its practical side. Creating trust The services you provide clients should never end with a sale but morph into an ongoing relationship that your use of AI can enhance. By continually offering insights and updates, you keep clients engaged and informed, reinforcing their loyalty – and trust. When clients are ready to make their next move or recommend you to someone they know, they will reach you: the agent that provides long-term value. Related reading Revive introduces 'Revive Vision AI,' an AI-powered Listing Tool for Real Estate Professionals Revive Uses AI to Introduce a New Era of Pre-sale Renovations
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Exploring the Revolution of Real Estate Virtual Tours
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How to Spark Real Estate Conversations with Friends, Family, Clients and Prospects
As a REALTOR®, it's vital to keep your finger on the pulse of the housing market. Being knowledgeable about and having keen insights into current market trends (versus not having them) can be a make or break quality. And in this business, you obviously want to be a deal-maker, not a deal-breaker! Use RPR to arm yourself with answers One way to do that is by leveraging the tools and data in RPR (Realtors Property Resource) to your advantage. RPR puts an array of data points and up-to-date market info right at your fingertips. Logging into RPR every day, checking your market stats and keeping the RPR Mobile™ app with you when you're out in the field, or out doing anything, is a smart way to keep up on trends and have a digital "cheat sheet" at your disposal. This is a keen daily habit and can help you: Articulate nuanced market movements Provide data-backed advice amidst market uncertainty Align consumer expectations with market realities Being able to provide these insights and answer real estate questions on the fly is the sign of a true, local market expert. And the ability to simply start conversations out of the blue with confidence, and with data-backed details, is a formula for success. Here are three ways RPR can prep you to be a conversation-into-conversion type of agent. RPR Residential Market Trends Last year, RPR introduced Shareable Market Trends, and now hundreds of thousands of agents are using these hyper-local market stats to keep their clients and prospects aware and in the loop. Shareable Market Trends contain vital market information such as the Market Trends Indicator with key details on Month's Supply of Inventory, List to Sold Price Percentage, Median Days in RPR and Median Sold Price. Conduct a search as macro as a state or county, or drill down to ZIP codes and neighborhood names to define your area. You'll get an up-to-date snapshot of a local market and be able to point out key metrics that can really help position you as a source of truth in all types of real estate conversations. Instead of saying "Not bad," when someone asks you how the market is, you can confidently say, "Inventory is slightly up, but still down overall. While properties are still going for asking price and staying on the market for less than a month." These types of details and insights will set you apart from other agents, and plant seeds in the minds of fence sitters and future customers. And remember, with just a few clicks or taps from the website or the RPR Mobile™ app, you can also share these stats and graphs across all your favorite social media platforms and marketing touchpoints. Pro Tip: To ensure that you're providing the most up-to-date Market Trends information, try gathering Market Trends data at or around the 7th of each month. For example, January 2024 statistics were updated on February 6. AI-powered Market Trends ScriptWriter tool The RPR Market Trends ScriptWriter tool is an extension of the Shareable Market Trends. This ChatGPT and AI-powered integration offers agents a streamlined approach to creating personalized video scripts, engaging social media content and detailed metrics analysis. However, the usable scenarios don't end there. You can also use it to create scripts and blurbs for yourself, to keep in your back pocket when organic conversations about real estate occur out in the world. Simply run a Market Trends search, then hit the "Create Script" button where you'll be presented with options on the audience, tone and type of script. For the purposes of arming yourself to carry and start real estate conversations, we suggest you select the "Conversational" tone, Buyers and Sellers for audience and "Social Campaign." Here's an example of the type of copy the ScriptWriter will generate: Over the last 12 months, we've seen a significant decrease in the Month's Supply of Inventory by -20.69%. This indicates a growing demand for homes in Oceanside, making it a promising market for both buyers and sellers. When it comes to selling your home, you'll be glad to know that the List to Sold Price percentage is a fantastic 99.3%! This shows that properties in Oceanside are fetching close to their listing prices, giving sellers confidence in their investments. Looking to make a quick move? The median days on market is just 15 days! Homes in Oceanside are selling like hotcakes, so buyers need to act fast to secure their dream homes. Now, let's talk numbers. The median sold price in Oceanside is currently at $799,000. This reflects the strong demand and value of properties in our city. It's an exciting time for buyers and sellers alike! Now, these little snippets are originally intended for social media posts as individual shares: Facebook, X (Twitter), Instagram, LinkedIn, etc. Agents can simply cut and paste the words and emojis. However, for the creation of discussion talking points and convo starters, you'll need a slightly different tactic. All you have to do is lose the emojis, and take the statistics, and learn to recite them in your own words. So when someone asks, "How's the market for selling?" you can respond with, "It's actually pretty strong right now, with more buyers entering the market every day. In fact, the List to Sold Price, which is how much you list for compared to how much you actually get, is a healthy 99.3%!" Check out this How-To for a step-by-step on getting started using it. Take the ScriptWriter for a spin today to see how easy it is to use when engaging with potential clients, family or friends. Note: the Market Trends ScriptWriter tool is only available on the website version of RPR… for now. Equity and Mortgage Calculators Here's where the sparks really start to fly! The RPR Mobile™ app is now equipped with two very powerful tools: The Equity Calculator and the Mortgage Calculator. Now, with phone in hand and the RPR app opened up, you can give potential clients a detailed look at the equity their home has built up, or their purchasing power as a buyer. These are things that sellers and buyers really want to know more about! And sometimes, this type of information can even make someone start considering listing their home for sale, or taking a dip as a first-time home buyer. Knowledge is power and you have so much in your hands with the RPR app and these calculators. Picture yourself at a kitchen island during an open house. Or in line at the local coffee shop. Or at your kid's practice. Or eating out, picking up dry cleaning, in a waiting room, etc. Any time you're out and about, working or not, you're basically a living, breathing, walking and talking real estate information kiosk! Whether someone seeks you out, or you happen to overhear a conversation, the RPR app arms you with ice-breaking opportunities to show people important information about their real estate situation. For a step-by-step walkthrough on how to use the calculators, check out this article from our blog: The RPR App Adds new Estimated Equity and Mortgage Calculators. Use RPR to spark real estate conversations anywhere, at anytime As you can see, RPR is much more than just a mere research tool; it serves as a catalyst for engaging and meaningful conversations about properties and housing markets. By leveraging the wealth of data and insights provided by RPR, REALTORS® can elevate their conversations, build stronger relationships with clients, and establish themselves as trusted experts in a competitive market. To view the original article, visit the RPR blog. Related reading How RPR Can Enhance Your Real Estate Marketing Strategy [Podcast] How RPR is Helping Realtors Navigate a Challenging Market, with Reggie Nicolay RPR Announces the Winners of Their 'How's the Market?' Video Contest
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Dollar-Productivity: What to Start, Stop, and Continue in 2024
Real estate moves fast, and in order to keep up, you have a lot to manage, maintain, and strengthen. With competing priorities and new goals for 2024, it's more important than ever to zero in on the strengths, weaknesses, and areas of opportunity for your business. This helps ensure you're maximizing dollar-productivity, or the tasks that will generate revenue for your business. By having a strong lay of the land for the current state of your business, you have ample opportunity to know what to start, stop, and continue to ensure success. Let's take a look at how you can execute this exercise. The First Step to Determining Ways to Maximize Your Productivity Before you dive headfirst into deciding what to start, stop, and continue in 2024 to drive more income, it's important you first get a lay of the land. Without knowing exactly where you're starting, it can be difficult to identify where you can pare down, and other places you can scale up. First, take a look at what daily tasks you're performing for each revenue-generating area of your business, like lead generation, marketing, and follow-up. Then, measure your own success metrics directly related to generating revenue. As you review 2023's performance, make sure to measure things like: How many leads are you generating? What are your best lead generation sources? How many phone calls are you making? How many calls does it take for you to have a conversation? How many conversations does it take for you to get a meeting? What's your client conversion rate? How about your lead conversion rate? By understanding the current state of your business, you'll have a strong grasp on areas of opportunity, things you can eliminate, and what you can strengthen this year. Doing this early in the year helps you gain the right footing on the path of planning ahead, especially since you're equipping yourself with a year's worth of fresh, recent data. How Exactly to Determine What to Start, Stop, and Continue in 2024 Now that you're deeply familiar with your key success metrics, you also have a good view into what's working, what can stay the same (or be kicked up a notch), and what you can cut out completely. Remember: the goal is dollar-productivity. This means you need to assess exactly which activities you're doing are ones that are either helping, hurting, or maintaining your revenue goals. Use each of the following areas to assess what you can start, stop, and continue for the year ahead. We recommend getting a piece of paper and creating columns for each of these actions and categorizing your efforts appropriately. Marketing and Lead Generation When it comes to deciding which of your marketing efforts are worth starting, stopping, and continuing, you have a lot of opportunity to refine in this space. Since we're approaching this from an income-based perspective, start by looking at your top-performing marketing sources from a lead volume and conversion perspective. Where are you generating the most leads? What is the conversion rate on those leads turning into clients? How long does it take for them to go from "client" to "closed deal"? Knowing what's working well will help you understand what you can continue. To know what to stop, flip these same questions on their head by looking at your lowest performers for marketing. Is there anything viable? Can anything be improved? If you answer "no," it's a good idea to trim the fat and stop those efforts. But if there's a chance things can be improved, like if you've transitioned to a new market, hired marketing help, or have acquired a higher marketing budget, formulate a game plan to continue these efforts, and set a timeline to ensure you're staying on track. Then, revisit these questions above. Follow-Up and Conversion Rates Your approach to follow-up is what gets looky-loos to become leads, who then turn into clients. Earlier, we recommended you measure your phone call volume, how many calls it takes to get a real conversation, and then the amount of chats that lead to an actual meeting with the prospective client. It's also important to assess your follow-up via email and text message. How many email and text touches does it take to get on the phone? How many to get a meeting? Analyzing these averages will help you find the sweet spot of turning casual conversation into committed clients. If you find your outbound phone call volume is sky-high with limited success, consider adding in email and text touchpoints. To view the original article, visit the Inside Real Estate blog. Related reading Double Down on These 5 Marketing Basics to Start Your 2024 Out Strong 24 Fresh Lead Generation Strategies for 2024 Top 5 Hot Tech Trends in 2024 and How They Will Benefit You
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Top 5 Hot Tech Trends in 2024 and How They Will Benefit You
From artificial intelligence to next-generation devices, new tech tools promise to enhance efficiency, improve client relations, and, ultimately, help you grow your business. But wait – you have heard those promises made by other new tech breakthroughs in the past, right? How do you know that all the buzz about this new tech won't be another case of over-promising and under-delivering? Tech Helpline keeps an eye on emerging technologies that may impact real estate. Let's dive into five new technologies that will make waves in 2024 and explore how they can benefit your real estate business. 1. Personal AI assistants: The rise of digital efficiency Personal AI assistants are evolving, offering more than just reminders and weather updates – "Hey Alexa, what's the weather today?" Today's AI assistants can manage your schedule, handle client communications, and even generate reports, all through voice commands or simple text inputs. As they continue to integrate with various platforms, you will synchronize your tasks across devices, making your workflow seamless and efficient. Benefits for real estate agents For real estate agents, this means less time spent on administrative tasks and more time for client interaction and property showings. Imagine having an AI assistant that can schedule your open houses, send follow-up emails after a client or prospect call, remind you of crucial deadlines – and even answer your texts. This level of automation allows for a more personalized service to clients, as you can focus on their needs, reducing the stress of juggling multiple tasks. Application in action An agent could use a personal AI assistant to analyze market trends, compile compelling hyperlocal comparative market analysis reports, and perhaps provide a new way of creating listing prices based on data gathered from the same sources you use now and based on your process, but automatically. This speeds up your process and provides more data-driven approaches to your more complex tasks. 2. Your own ChatGPT: Tailored conversational AI ChatGPT, a conversational AI, has been customized for various industries, including real estate. This AI can engage in meaningful conversations with clients, answering their questions about properties, buying processes, and financing options in real-time. Its learning algorithm improves with each interaction, providing more accurate and helpful responses over time. It's what Ojo and Ylopo have been working on for years, but a more "lite" version. Advantages for agents The next wave of ChatGPT plugins may help revolutionize how you interact with clients. They might help you qualify leads, provide instant responses to inquiries, and even handle preliminary discussions, freeing you to focus on more complex negotiations and closings. Expect this new technology to be embedded in your website and, eventually, social media platforms, ensuring you're always available to your clients any time of the day. Real-world usage Imagine a scenario where a potential seller or buyer has questions in the middle of the night; you know from experience that it does happen. Your personal ChatGPT plugin can engage them, provide detailed information about listings, and even schedule viewings, ensuring that you don't miss out on opportunities just because you're offline. Then, it will give you the entire conversation before you take over and connect directly with the prospect. 3. New devices like Rabbit R1: Next-generation timesavers The Rabbit R1, perhaps the hottest new tech at the January Consumer Electronics Show (CES), stands out as what could be the best new tech tool for real estate. How many apps do you have on your phone? How many do you use daily? How many do you still need, but only occasionally? What if there was a device that could turn all your apps into an "Easy button"? Just tell it what you want, and it will deliver it back. That's what Rabbit R1 will do. It is a personal assistant to control your smartphone. A red-orange device half the size of your smartphone but a bit thicker costs $199. And it's harder to get than the first-gen iPad; it doesn't even ship until late March – the second batch of 10,000 units sold out in one day. This device uniquely aggregates and summarizes notifications and messages from various apps, including email and social media, into a single, streamlined summary. For real estate agents, who often toggle between multiple platforms to stay connected with clients and manage their listings, the Rabbit R1 offers a significant leap in productivity and time management. Benefits for the agent With the Rabbit R1, the daunting task of checking numerous apps for updates becomes a thing of the past. Imagine starting your day with a concise summary of all your communications across platforms. This capability allows agents to assess their priorities quickly, respond more efficiently to client inquiries, and manage their social media presence without switching between apps. The time saved can be redirected towards more valuable activities, such as client meetings and prospecting. Practical application Consider the scenario where an agent manages multiple listings across different platforms and communicates with clients through email, text messages, and social media. The Rabbit R1 can compile all messages related to each listing and present them in a unified view. This ensures the agent has all the relevant information at their fingertips, enabling them to provide timely and comprehensive responses. Because it protects the agent from overlooking messages, the Rabbit R1 enhances the agent's ability to maintain high client satisfaction and engagement levels. 4. Smarter smartphones: Enhanced capabilities for agents Smartphones are getting smarter, with next-gen features that agents will welcome, including better cameras for property photos and built-in AI that makes activities like maximizing your CRM or creating a market report a breeze. How agents benefit With more advanced smartphones, agents will better manage their business on the go, from having a CRM they use daily to reducing the time they spend marketing and on social media as automation assistance becomes a big deal. Smarter phones mean agents can provide faster, higher-quality information to clients. The better agents can leverage this new tech, the further they can distance themselves from the competition. In the field An agent gets a text from a prospect and has no idea who it is. Embedded AI could automatically search emails – and even the web – for missing email, phone, and other contact info, updating your CRM automatically. This may not happen this year, but this type of smarter tech is coming. Need a virtual staging photo? Soon, digitally creating fully outfitted rooms may be do-it-yourself from upcoming advancements. 5. Automated listings: Upload your photos, first! Automated listings technology uses computer vision and generative AI to simplify creating property listings. By simply uploading photos, AI-powered CV can identify home features automatically (Wolf stove, Subzero refrigerator). It also can instantly create photo captions for every photo. Advantages for agents This technology saves time and ensures that listings are optimized for visibility and appeal. More importantly, CV automatically ensures compliance: it can find people, logos, and other potential MLS violations before the listing is complete. It may even blur the suspect item to make the photo compliant. Agents can focus on face time with sellers and buyers, confident that their listings are competitive and compelling. In practice Do you struggle with writing engaging and compelling property descriptions for your listings? AI provided by Restb.ai, embedded in nearly every major MLS tech system in 2024, does everything mentioned, including providing different property descriptions to select from in various tones. Plus, an agent can edit anything before it's posted, making the property description their own. The new way to start a listing is to upload all the photos first! Embracing new technology These top tech trends offer exciting opportunities for real estate agents in 2024. By embracing personal AI assistants, ChatGPT, innovative devices like the Rabbit R1, taking advantage of smarter smartphones, and leveraging automated listings, agents can increase their efficiency by 3X or more, improve client satisfaction, and stay competitive in a rapidly evolving market. These tools will streamline day-to-day operations and create new ways to grow and succeed in the real estate industry. Related reads From the Tech Helpline Blog: It's magic: new AI-powered software can make your photos look amazing 5 emerging technologies impacting real estate 3 best AI prompts for real estate agents Tricia Stamper is Director of Technology at Florida Realtors®, which owns both Tech Helpline and Form Simplicity.
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The Top 10 Ways to Build Your Personal Brand Online, from REALTORS® Who Know
Nearly every real estate transaction begins with an online search, making your online presence as a real estate professional one of the most vital parts of your business. Where to begin? Whether you already have an established website for your real estate business or are just starting out, you can take advantage of two website extensions—the .realtor™ and .realestate top-level domains—that the National Association of REALTORS® (NAR) has created to help you build your brand. Getting started with a .realtor™ or .realestate domain is easy, affordable, and a no-brainer, according to industry experts who have seen their businesses grow and thrive since making the switch. Here are 10 key benefits they think all real estate professionals should know, in their own words. Your online presence is an important facet of your personal brand as a real estate professional. 1. Your domain immediately establishes a voice of authority REALTORS® are members of the National Association of REALTORS® and adhere to a rigorous code of ethics. This designation immediately signals to homebuyers and sellers that this is an industry expert they can trust. Making that credibility immediately apparent in your online presence is key, says Britt Guimond, a Denver-based REALTOR® who works at boutique brokerage West and Main Homes. "The .realtor™ extension lends credibility to my website," she says. "It's like .gov or .edu, which are vetted entities. A site can't have those extensions unless they are what they say they are. It's very obvious what .realtorTM represents. 2. It's easy for your clients to remember the name Like many in the industry, Josh Jerman of Hawaii Life Real Estate Brokers chose to focus his real estate strategy on name recognition. His goal is to market his name as synonymous with Maui real estate. "You want to do as much as possible with your own name," he advises, which is why he opted for a .realtor™ domain preceded by his own name—joshjerman.realtor. In one short URL, it's immediately apparent who he is and what he does, effectively building his personal brand. 3. You are harnessing the power of SEO In addition to the .realtor™ extension, NAR also offers a .realestate option, which Lisa Kunkel, a REALTOR® with Keller Williams Realty in the greater Pittsburgh area, saw as a slam dunk for SEO. Before becoming a REALTOR®, Kunkel actually worked as a website developer. "The name of your website factors into SEO, so if you have 'real estate' in your URL, that is a very good thing," she says. Kunkel opted to secure URLs with the name of her hometown, Cranberry Township, a bedroom community in Pittsburgh. She chose both cranberrytownship.realestate and cranberrytwp.realestate to maximize her presence in search results. 4. Clients can find you faster REALTORS® using the .realtor™and .realestate domains report that clients can find them almost instantly. Kunkel says that since launching her websites, her phone has been ringing "nonstop" with buyers and sellers. "As soon as you type in 'Cranberry Township real estate' or 'Cranberry Township Keller Williams,' my name pops up," she says. She occasionally also gets calls about other town-related concerns, like broken sidewalks in front of homes for sale, but she views this as a positive—proof that her online strategy is working. "They are clearly calling me because they found me on the internet," she says. In addition to brand recognition, the .realtor™ and .realestate domains can help keep you discoverable in search results. 5. It can be a fast-track to referrals The .realtor™ extension can also be an asset when it comes to referrals. Jerman explains, "I've noticed that other agents that have the .realtor™ domain have looked to that platform when they need to refer to another agent in a different market. It's the real estate version of someone going on LinkedIn to connect with others in a similar industry." In the last year, he reports that he's gained four or five referrals this way. 6. It can help you boost your revenue Real estate is a numbers game: The more people who can find you, the higher your year-end sales numbers. In Kunkel's case, she'd had several good years working in the greater Pittsburgh area before deciding she wanted to target her hometown of Cranberry Township. Her narrowed focus would allow her to define her market as well as save money on expenses from driving to neighborhoods further away. Her new strategy involved revamping her online presence with her cranberrytownship.realestate and cranberrytwp.realestate websites. And the results speak for themselves: In the first year of her new sites, she sold $4 million in Cranberry Township alone. "I would say it's a big success," she says. 7. Building on the NAR platform is easy Your new .realtor™ or .realestate website from NAR includes free hosting as well as a self-service platform to help you build your new website. "It's as simple as it gets," says Jerman, who had previously hired a web developer for 20 hours to build a website for his business. When it came time to build his joshjerman.realtor site, he and his assistant were able to build and customize it themselves in just two hours. Guimond had a similarly positive experience when she switched to NAR's website platform to build brittguimond.realtor. She had previously built websites on another platform, but "quickly switched gears," she says, when she found NAR's .realtor™ offering. "This CMS is easy to use and intuitive." 8. You can make your site feel as custom as you want The NAR platform includes a host of customization options that allow agents to make their site feel aligned with their personal brand. These include looping videos, photo slideshows, blog templates, and much more. "The widgets lend themselves to creating a dynamic user experience," says Guimond. "They add to the diversity of the look and feel of the website." She also highlights a favorite feature: free use of a library of images. "They are all high quality—beautiful." 9. You have access to support NAR's platform offers a support team that responds quickly to questions about setup as well as requests to customize or alter templated pages. Jerman shares that when building his site, he reached out to request a "Get in Touch" button for his bio page. The change, he said, was made within hours, and he commends the level of service he received for his request. "They said they'd be happy to make that adjustment and if I needed anything further to let them know. 10. You can't beat the price All NAR members receive their first year of a professional website with a .realtor™ domain for free—including hosting, customization, image library, and tech support. After that, it's just $39.95 per year. Kunkel puts this in perspective. "If you've spent money on advertising," she says, "you know how expensive that is." Whereas a .realtor™ or .realestate domain does the work for you—showing up in search results again and again, and all for an affordable flat fee. She sums it up: "You can't get advertising for that cheap." For more information, or to get your website, visit get.realtor. To view the original article, visit the get.realtor blog.
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5 Things Your Broker Is Too Nice to Say (But You Need to Hear Anyway)
Is a tough real estate market the right time for some tough love? It is if you're using the market as an excuse to be complacent, says Jimmy Burgess, CEO of BHHS Beach Properties of Florida. "One of the most important things we can do is have people be real with us right now when the transaction is a little more difficult to come along," Burgess says. "Now is the time that you need somebody that's going to be honest with you, that's going to call you out on a few things." Burgess shares a little tough love in the video below — five things you may not be hearing from your broker, but need to if you're going to thrive in the current market. Read on for a bit of wisdom distilled from each of Burgess' five points (plus a few extras from us): 1. The Market Is Tougher, You're Getting Softer When the real estate market rockets up like it has in recent years, it's easy to "get a false sense that we're better than we are. We can begin to just kind of accept what comes to us instead of going and making it happen." The fix? Be proactive instead of reactive. Make calls, host open houses, cultivate a geographic farm if you aren't already. 2. You're Blaming the Market and Your Broker for Your Failure Instead of Taking Responsibility and Doing the Work Ever find yourself falling back on excuses like these to explain lackluster performance? "If my split was just higher," "If I just had more support from a marketing team," "If I just did these things…" The fix? Stop the excuses and realize that you're in control of your situation and take responsibility for your own success. Are you truly unhappy at your current brokerage? Don't wallow — consider switching. 3. You're Not Facing Your Fears Are you letting your fear hold you back — the fear of being hung up on, the fear of what you look like on video, the fear of putting yourself out there and trying something new? The fix? Stop playing small. "Those that push past their fears right now when everybody else is freezing or they're stalling or they're not sure what to do those are the people that are setting themselves up not just for success now, but to have a business that continues to grow not if, but when, [the market] takes off." 4. You're Reacting Incorrectly to Adversity Some people freeze when faced with adversity. The successful, however, recognize adversity as an opportunity. The fix? While other agents are pulling back, recognize that "now is the time to understand adversity creates opportunities to build long-term relationships." Turn to your database to deepen relationships and build business that bears fruit in future. 5. You've Got to Do Different Things to Get Different Results "What got you success in the past is not going to get you success going forward," says Burgess. The fix? "Hard work is absolutely 100% undefeated. If you'll work harder this year, if you'll take more action, if you'll do new things, you're going to get new and different results." This can include leveraging your MLS's public records system to find listing leads, texting, trying a new-to-you source of lead generation, and more. The Road Ahead Tough love doesn't have to be painful, and it doesn't necessarily even require big changes. Instead, Burgess says, "if you can just make a small adjustment, it can change everything and make sure that you're one of those people [who] is thriving, not just surviving, during this time." Related Reading Stressed About Low Inventory? Read This. Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
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15 Best AI Commands for Real Estate Professionals
As a real estate professional, you know that staying on top of technology trends can give you a competitive edge. And artificial intelligence is shaping up to be one of the most useful and exciting tools out there. So how can you leverage AI to boost your real estate business? This article will explore 15 of the best AI commands tailored specifically for real estate agents. We'll provide actionable tips on using ChatGPT, Google Bard or other leading AI assistants to help you close more deals, create better marketing content, automate admin tasks, and more. You'll come away with practical strategies to tap into AI's potential, saving you time while delighting clients. So read on to unlock 15 AI superpowers that can elevate your real estate career today! Introduction to AI for Real Estate Professionals As AI tools like ChatGPT become more advanced, they open up exciting possibilities for real estate professionals to work smarter, not harder. Whether you're an agent, broker, or team leader, AI can help automate repetitive tasks so you focus on high-impact activities. Here's a quick intro to how AI is transforming real estate: Lead generation – Use AI writing assistants to quickly draft listings, landing pages, emails, and social posts. AI can also identify promising leads by analyzing consumer data. Showing coordination – Automate scheduling, reminders, feedback collection, and other logistics around showings. AI scheduling tools learn your availability preferences. Transaction management – Upload contracts, organize supporting documents, and track progress automatically with AI transaction platforms. Get alerts for critical dates/tasks. Market analysis – Pull real-time, hyperlocal market statistics through AI market tools. Analyze trends and make data-backed pricing recommendations. Administrative tasks – Let AI handle meeting scheduling, calendaring, data entry, and other repetitive admin work that eats up time. The key is blending AI's efficiency with your specialized expertise for next-level service. Approach new AI tools with an open mind, patience through any hiccups, and creativity. The real estate landscape will continue advancing rapidly. AI can help you not just keep up, but get ahead. 5 Best AI Commands for Lead Generation As a real estate professional, generating leads is essential to building your business. AI tools like ChatGPT can help. Here are five AI commands that will supercharge your lead-generation efforts: 1. Write a personalized email for cold outreach AI can craft customized emails to prospects that sound authentic and compelling. Try: Write a professional yet friendly cold email to introduce myself to potential home buyers in my area, around 150 words. 2. Create Facebook ad copy Well-written Facebook ads can attract more clicks and conversions. Ask the AI: Draft 2-3 Facebook ad variations for my real estate services targeting first-time home buyers, include benefits and call-to-action, around 125 characters each. 3. Research contacts for targeted outreach Expanding your outreach list takes work. Let AI assist with research: Provide a list of 20 relevant contacts I can reach out to, including name, company, role, email, with a focus on real estate investors and developers in my city. 4. Optimize website content for SEO and conversions SEO-friendly website copy can increase site traffic and leads. Try commands like: Revise the homepage copy on my real estate website to improve SEO and increase lead capture, around 300 words. 5. Generate ideas for lead magnets Lead magnets incentivize visitors to share contact info. For fresh ideas, ask: Suggest five potential lead magnet offers I could create to attract buyers and sellers to subscribe to my email list. Experiment with different AI commands for your lead gen needs. Add your unique spin and insight to stand out. The key is optimizing your outreach for more conversations and connections. 5 Best AI Commands for Listing Copywriting When it comes to writing listing descriptions that capture attention and drive engagement, AI can be an invaluable asset for real estate professionals. Here are five of the best AI commands for optimizing your listing copywriting using ChatGPT or other natural language generation tools: Describe this [address] home's best features in an engaging, benefit-focused paragraph. This will generate a lively overview paragraph highlighting a property's most appealing attributes. Focus on benefits over features to better connect with buyers. Write three short, unique selling proposition statements for this [bedrooms] bedroom [city] home. Crafting targeted USP statements can help listings stand out. Ask for multiple options to find the best fit. Suggest a catchy, benefit-focused headline and subtitle for this [property type] at [address]. An appealing headline and subtitle will capture interest and communicate top perks. List 10 keywords and phrases buyers would likely search for a home like this one. Incorporating relevant keywords organically throughout listings can improve SEO and search visibility. What interior images would you recommend for showing off this home's best assets? Identifying key rooms and surfaces to highlight through photos can further emphasize a property's top features. Leverage the descriptive power and optimization smarts of AI to showcase listings in the best possible light. Generate multiple headlines, paragraphs, or real estate keywords, then edit and refine the best outputs to suit your needs. With practice, AI-assisted copywriting can help increase click-throughs and showings. 5 Best AI Commands for Market Analysis Provide a detailed market analysis for the single family housing market in [CITY, STATE], including average sales price, months of inventory, absorption rate, trends over the past two years, and predictions for the next two years. Compare the condo/townhome markets in [CITY 1] and [CITY 2], highlighting key statistics like median sales price, average days on market, list to sales price ratio, and appreciation rates over the past five years. Recommend which market looks more favorable for investment. Give the top five most important economic factors that can impact demand for suburban office space in [REGION], such as job growth, interest rates, and infrastructure development. Elaborate on how each factor influences demand. Analyze the retail rental market in [NEIGHBORHOOD] and provide the current average asking rents per square foot, vacancy rates, new construction, household income demographics, and retail sales growth within a 3-mile radius. Provide a one-page executive summary on current conditions and forecasts for the apartment market in [CITY, STATE]. Include information on occupancy rates, rent growth, new construction, demand drivers, and recommendations for investing or developing. Conclusion You now have 15 AI commands specially crafted to help streamline your real estate business and stand out from the competition. As AI continues advancing at lightning speed, staying ahead of the latest technology will ensure you provide unmatched value when serving clients. Implement even a few of these AI tools for real estate agents into your workflow, and you're sure to increase productivity while delivering next-level service. With the right technology, your possibilities are endless. Note sure to use which most popular AI tools? Check out ChatGPT vs Google Bard. To view the original article, visit the Realtyna blog. Related reading 3 AI Prompts That Really Work for Real Estate Agents Influencer Approved: 6 Game-Changing ChatGPT Prompts for REALTORS 8 Browser Extensions for ChatGPT
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4 Ways Buyers Agents Can Show More Value to their Clients
As the market continues to evolve and we look ahead to a 2024 poised to see shifts in interest rates and inventory, it's clear to all real estate pros: home buyers need hands-on help from buyers agents. From a consumer's point of view, they may not know why, or think they can do it themselves. Take the guesswork out of the equation with these four ways you can show your value to your buyer clients upfront. 1. Unleash Your Market Expertise and Do It Often Let's face the facts: consumers don't have the same level or depth of local market expertise you do. They can empower themselves with data they find from a variety of sources online, and get a solid idea of the market from browsing top online real estate portals. But the local market data you have access to encompasses real-time and real life. Share this data with your clients to build trust in your expertise and knowledge, while also highlighting your value of having exclusive access. In addition to amping up your client interactions with data, you also come with a solid history as an agent. Your experience serving buyer clients of all types in your market, managing their needs and specific situations, and the ways you navigate each and every transaction should also be shared with your buyer clients. This will help them find comfort and trust in the fact you know what you're actually doing — you don't just talk the talk, you walk the walk. Being able to articulate your local market expertise and the experience you have working in the area your buyer clients are interested in is what will separate the good buyers' agents from the great ones. 2. Understand Your Client on a Deeper Level Purchasing a home is considered the investment of a lifetime. And in a market that's felt more like a rollercoaster ride than a walk in the park in the last few years, buyers need your guidance, knowledge, and expertise to help them find their home sweet home. It's not enough to simply find a house that fits their budget range; you need to understand your client deeply. Ask exploratory questions. What's motivating them to buy? What are their hesitations, if any, around buying? What's shaping their home buying budget? This creates the perfect bridge to active listening, which develops and strengthens rapport with your clients. This will make your working relationship much more communicative and open, while helping you build and develop a superior buying experience. 3. Show Them You Know Exactly What They Want Going hand-in-hand with #2 is this tip. You've explored your clients' motivations, wants, needs, desires, and non-negotiables. You have a deeper understanding of their intent for the buying process. But in addition to active listening and displaying empathy, you also have to show them you know what they're looking for. Maybe you know of a great listing that fits their exact needs that hasn't hit the market quite yet. Or a life change they're facing has unlocked a new variety of needs they haven't even considered — but you've already helped a buyer client in the same scenario before. Whatever it is, aim to go above and beyond to deliver a home shopping and buying process that addresses your buyer clients' wants, needs, and calms any concerns. 4. Share Proof Points About Working with You Testimonials and reviews from past buyer clients you've worked with are worth their weight in gold. We all read online reviews for just about everything — from a new car to the latest smartwatch, a primary care provider to a cosmetic dentist, online reviews give us a real-life look into what it's like to work with the provider or purchase a product or service. Think about the last time you steered clear of a purchase or service because of poor reviews. Or think about the last time you jumped at a service because of how great their customer reviews were. There's power in sharing real-life experiences, and having your previous clients' testimonials provides your current (or future) buyer clients with an honest, unbiased view into partnering with you for their home purchase. Meet Buyers Where They Are and Get Them to the Closing Table Buyers need you and your deep real estate knowledge and experience — they just might not know it. Buyers might be confident they can get through the process with online real estate portal data or driving around scoping out For Sale signs, but the reality is, they need you. So tell them, and then show them. By highlighting yourself as a local market expert and trusted, experienced buyer's agent, prospective homebuyers can easily feel confident in working with you, rather than trying to do it all themselves. To view the original article, visit the Inside Real Estate blog. Related reading Unlocking RPR's Potential: A Buyer's Agent Daily Playbook The Shifting Dynamics of Buyer-Agent Relationships in Real Estate A State-Specific Guide to First-time Homebuying Programs
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Road Warrior Checklist: 30 Things to Keep in Your Car
Whether you're traveling between showings or picking up supplies for an open house, your vehicle acts as your de facto second office. And like any office, it needs to be well-stocked with the essentials you need to do your job. When you're on the road, that means being prepared for anything! So, intrepid road warriors, here are 30 ideas for on-the-go supplies to keep in your moveable office: The basics When you're facing a long day of driving around, it's helpful to have these items on hand to keep yourself (and your clients) feeling good: Water bottles - Keep a small cooler with bottled water for your clients. For yourself, consider bringing along a reusable bottle to cut down on plastic waste (and expense). Snacks - No time to stop for a bite? Stock your car with non-perishables like granola bars, crackers, beef jerky, and other non-messy, shelf-stable snacks. These are also great to have in case you have clients with low blood sugar issues. Phone chargers - A portable power bank or car charger will ensure your phone never dies during a busy day. Some larger power banks can charge laptops, too, so look for those if you port your laptop around. Hand sanitizer and wipes - These are essential for staying clean and hygienic, especially during property showings. Mints and breath fresheners - Always be prepared to leave a good impression. Umbrella - You never know when it might rain, so be ready with a compact umbrella. Lint roller - Keep yourself looking fresh and pet-hair free before meeting clients. Showing supplies Whether you're helping your listing look its best before a showing, or using these items with your buyers to vet a property, these supplies can help any showing go smoothly: Shoe covers - Keep shoe covers in your car to protect floors from dirt and debris. Wood markers and paint pens - Use wood markers to cover up minor scratches in wood. A white paint pen can do the same trick on white kitchen cabinets. Measuring tape or laser measure - A must-have for measuring rooms and helping buyers envision furniture placement. Flashlight - A small flashlight is handy for checking dark closets, attics, basements, sheds, or crawl spaces — or for using in vacant properties with turned-off power. Marbles - This is one of our favorite ideas we've heard over the years. Use a marble to test for floor dips and floor evenness. Compass - Have buyers who want to know which side of the house gets natural sunlight? Keep a physical compass or use a compass app to figure it out. You can also use an app like Sun Seeker (iOS, Android) to chart the sun's exact path at any time of the year. Dog treats - Although homeowners are supposed to remove or kennel their pets before a showing, things don't always go as planned. Keep dog treats on hand to help befriend any canine you may encounter. Cleaning supplies - Not all sellers are great at keeping their home showing-ready. Having basic cleaning supplies like paper towels, plug-in air fresheners, a Swiffer, or even a portable vacuum cleaner can help you quickly clean up any messes. Rain boots - Rainy days, muddy yards, flooded basements, distressed properties — you never know when you need hardier footwear at the ready. Emergency essentials No matter how well-maintained your car is or how safe a driver you are, there's no predicting what can happen on the road. Keep these items in your vehicle to ensure your safety when the unexpected happens: Jumper cables - These can be a lifesaver if your vehicle's battery dies. A portable car battery charger can also be super helpful for when there's no one nearby to jump your car. First-aid kit - Be prepared for minor cuts, scrapes, or headaches. Blanket - In the event that you're stranded, a blanket can keep you warm until help arrives. Tool kit - Keep a basic tool kit with screwdrivers, pliers, a wrench, and a hammer handy for unexpected repairs. Emergency roadside assistance - Consider subscribing to a roadside assistance service for peace of mind. Road flares or reflective triangles - These are essential for staying safe and visible during roadside emergencies. Ice scraper and snow brush - If you live in a cold climate, these are must-haves. Spare tire and jack - Ensure your vehicle has a spare tire and the necessary tools for changing a flat. Bonus items Marketing materials - Brochures, business cards, and flyers are a great way to promote your business on the go. You can also keep short, printed reports on hand. For example, if you have access to RPR in your market, print out these reports: Mini Property Reports for each of your listings, Neighborhood Reports and School Reports for each area you serve. Gift basket - Have a small gift basket with snacks and drinks to welcome new clients. We've also heard of agents who keep a bottle of wine (and shatter-proof glasses) to celebrate closings. 'Just Sold' sign - Speaking of closings, a large "Just Sold" sign comes in handy for social media marketing. Have your clients hold the sign in front of their new home and take their photo. Spare lockboxes and lockbox keys - In case you get a new listing or the current lockbox needs to be replaced. Lock de-icer - This can be helpful on brutal winter days when a lockbox dial or front door lock freezes. Extra signs - This includes yard signs and open house signs. There you have it — 30 ideas for keeping your vehicle stocked and prepared for all your real estate adventures! Related reading What Type of Car Should Realtors Drive? 10 Tasks to Cross off Your Summertime Vehicle Maintenance Checklist
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From Buyer's Agent to Listing Agent: One Realtor's Story
It's no secret that being a listing agent is potentially more lucrative than being a buyer's agent. You don't have to accompany clients to multiple properties for showings, or submit bids that may be lost to cash offers — and if you have a listing, there's an excellent chance it will sell for asking or above in today's competitive market. But being a listing agent is no walk in the park, especially with fewer homeowners willing to enter the market at all. So how do you transition to working with sellers rather than buyers — and do it successfully? Brandon Watts, a Realtor from Gainesville, Georgia, knows exactly how, and he shared his story in a recent video interview with real estate broker and coach Brandon Mulrenin. Early challenges Watts entered the real estate industry in 2016, and initially focused on buying leads from Realtor.com and Zillow, and "working mainly just a lot of buyer business, running like crazy, all kinds of hours working seven days a week. I mean, I'd get a lead [when] I'd be in the shower — I'd jump out of the shower and call them." Watts then joined a team where he worked mostly Zillow leads, but says he was met with a lack of direction on listing appointments, and struggled to acquire clients and close deals. "I remember going to [my team lead] one time and saying, 'Hey, what do I do for my listing presentation?' and he pretty much didn't have an answer. He was just like, 'You know, hey, if they want to list with us, it's great — or not, that's okay too. Just go to the next one.' And I'm like, 'Wow, okay, I gotta do something different here.'" That's when Watts began shifting his focus. The game plan Watts quit taking online buyer leads and joined a coaching program, which improved his sales and lead communication skills. In the past six months, Watts says that this coaching has resulted in 12 transactions and $78,000 in earnings. So what does achieving this kind of success entail? Watts says he uses Vulcan 7 for prospecting. His primary lead sources are FSBOs and expired listings. The heart of his success, however, is discipline. His lead acquisition strategy includes direct outbound prospecting from 8 AM to 12 PM every day. He averages around seven prospects per hour, totaling 25-30 leads per week. Thanks to consistent effort, Watts no longer needs to buy leads, which also results in increased profit margins. His lead follow-up process is equally regimented. He leans on a folder system to classify leads: nurture (6-12 months), warm (90-120 days), and hot (within the next week or two). He then follows up on hot leads almost daily, warm leads weekly, and nurture leads monthly. To make him stand out in the minds of those leads, he sends them personalized thank-you cards and $1 lottery tickets. Advice from a goal-getter While Watts ended 2023 with 25 closings, generating approximately $150,000, he's aiming even higher for 2024. His goal is to net $300,000 in 2024 via 50 transactions, with a gross target of $416,000. Here are his takeaways for those looking to achieve a similar level of success: Consistency is key: Stay focused and committed to the daily process. Mindset shift: Success takes time and often requires a shift in perspective towards the process. Daily routine: Approach each day with a commitment to the process, rather than worrying about immediate outcomes. Coaching and mentoring: Get a coach or mentor for guidance and structured planning. Related reading How to Turn Your Real Estate Buyers into Seller Leads Tips for Growing the Listing Side of Your Real Estate Business Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
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Are Electronic Signatures Admissible in Court?
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Center for REALTOR Financial Wellness: Tax Summit
February 7, 14, 21 and 28, 2024 at 10:00 AM PST REALTORS® are facing a long list of tax changes for the 2023 filing year. New and complex rules, annual inflation adjustments, and tedious documentation can impact any taxpayer without a plan or expert guidance. Hear from certified professionals and get the tips needed to save time and money while reducing your stress this tax season. Register to attend NAR's Financial Wellness 2024 Tax Summit. Date and Session Details: February 7: SMART from the Start – Accounting Tax Tips February 14: 2023/24 Tax Update - REALTOR® Edition February 21: Advanced Tax Strategies for Agents February 28: Tax Advantages for Agents Investing in Real Estate Register now!
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Start Doing These 3 Things Now if You Want to Surpass Your 2023 Transaction Volume
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How to Create Top-Notch Real Estate Website Pages
In today's competitive real estate market, a strong online presence is crucial for success. Your real estate website is often the first point of contact for potential clients, making it vital to create web pages that not only inform but also captivate and engage your audience. In this article, we'll walk you through the essential steps to help you craft top-notch real estate website pages that leave a lasting impression and drive business growth. 1. Define Your Target Audience Before diving into webpage creation, it's essential to understand your target audience. Different clients have different needs, preferences, and expectations. Consider whether you're catering to first-time homebuyers, luxury property seekers, commercial real estate clients, or a mix of these. Tailoring your webpages to address their specific interests and pain points will make your site more effective. 2. High-Quality Visuals Real estate is inherently visual, and the imagery you use can make or break a webpage. Invest in professional photography or virtual tours to showcase properties effectively. Ensure that images are high-resolution, well-lit, and showcase the property's best features. Additionally, optimize images for fast loading times to improve user experience. 3. Clear and Compelling Headlines A clear and compelling headline is the first thing visitors see when they land on your webpage. It should succinctly convey the page's purpose and entice readers to explore further. Use descriptive and engaging language to pique their interest. 4. Engaging and Informative Content Content is king in the online world, and your real estate webpages should offer valuable information. Provide detailed property descriptions, neighborhood insights, market trends, and buying/selling guides. Use a conversational tone that's easy to understand, avoiding jargon that might confuse potential clients. 5. User-Friendly Navigation A user-friendly website is more likely to keep visitors engaged. Ensure that your navigation menus are intuitive, with clear labels that guide users to different sections of your website. Use a responsive design to ensure your webpages look and function well on various devices, including smartphones and tablets. 6. Lead Capture Forms To convert visitors into leads, incorporate lead capture forms strategically throughout your webpages. These forms should be easy to find and quick to complete. Consider offering valuable resources such as e-books, newsletters, or property alerts in exchange for contact information. 7. Testimonials and Reviews Building trust is vital in the real estate industry. Showcase client testimonials and reviews prominently on your webpages. Real-life success stories and positive experiences from previous clients can help establish your credibility and encourage potential clients to reach out. 8. Call to Action (CTA) Every real estate webpage should have a clear and compelling call-to-action. Whether it's scheduling a property tour, requesting a consultation, or signing up for property alerts, make it easy for visitors to take the next step. Use action-oriented language to prompt immediate engagement. 9. Regular Updates To keep your website relevant and authoritative, regularly update your content. This could include adding new property listings, blog posts about local real estate trends, or market reports. Fresh content not only keeps visitors coming back but also improves your website's search engine ranking. 10. Analytics and Optimization Lastly, use web analytics tools to track the performance of your webpages. Analyze user behavior, such as page views, bounce rates, and conversion rates. Use this data to make informed decisions and continuously optimize your webpages for better results. Creating top-notch real estate website pages takes time and effort, but the results can significantly impact your business's success. By focusing on your target audience, using high-quality visuals, and providing engaging content, you can create a website that not only attracts visitors but also converts them into satisfied clients. Remember that the real estate market is constantly evolving, so staying up-to-date with the latest trends and technologies is key to maintaining a competitive edge in the digital landscape. With dedication and attention to detail, your real estate website can become a powerful tool for growing your business and serving your clients effectively. To view the original article, visit the Realtyna blog.
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Capturing Home Dreams: The Impact of Real Estate Photography on a Successful Sale
In the fast-paced world of real estate, first impressions are everything. Whether you're browsing through listings online or attending an open house, the visual appeal of a home plays a pivotal role in the decision-making process. Enter real estate photography, a powerful tool that can help you make home sale! In this post, we'll explore how high-quality, captivating imagery can significantly impact the selling potential of a property. The Power of First Impressions Imagine you're scrolling through a list of homes online. Your eyes scan through dozens of listings, and within seconds, you make split-second decisions based on visuals. This scenario is not uncommon in today's digital age, where potential buyers are spoilt for choice. Real estate photography acts as the digital curb appeal, drawing in prospective buyers with stunning visuals that make a lasting impression. Think of it this way – if the first photo doesn't grab your attention, the likelihood of clicking through to view the rest of the listing drops significantly. A professionally captured image showcasing a home's best features can be the key to capturing the interest of potential buyers and enticing them to explore further. Setting the Stage for Success Effective real estate photography goes beyond just capturing images; it's about creating a narrative that allows potential buyers to envision themselves living in the space. Well-lit, strategically framed photographs can highlight a home's unique features and create an emotional connection with the viewer. Consider the impact of a beautifully staged living room bathed in natural light or a meticulously photographed kitchen that exudes warmth and functionality. These images not only showcase the property but also tell a story about the lifestyle it offers. By setting the stage for success through compelling visuals, real estate photography transforms a property from a mere listing to a dream home in the eyes of potential buyers. The Digital Window Shopping Experience In the digital age, buyers often engage in what can be described as "digital window shopping." They explore various listings, comparing features, and visualizing their future life in a new home. Real estate photography plays a crucial role in this process, providing a virtual window into the property. High-quality images are more likely to grab attention and encourage prospective buyers to add a property to their "must-see" list. The more visually appealing a listing, the higher the chances of attracting serious inquiries and, ultimately, securing a successful sale. Standing Out in a Crowded Market In a market saturated with listings, standing out is a challenge. Real estate photography provides the competitive edge that can make a property memorable amidst the sea of options. Professional photographers use their expertise to capture unique angles, emphasize key selling points, and showcase a property's personality. In a single glance, potential buyers can differentiate between a home that exudes character and charm and one that appears lackluster. The ability to stand out in a crowded market can significantly impact the time a property spends on the market and its ultimate selling price. Building Trust and Credibility Trust is a fundamental factor in any real estate transaction. High-quality real estate photography not only attracts potential buyers but also establishes trust and credibility. When a listing features polished, professional images, it conveys a sense of care and attention to detail. Buyers are more likely to trust a listing that presents itself well visually, as it suggests that the seller is invested in their property and serious about making a deal. Conversely, poorly executed photography can raise doubts about the condition of the property or the commitment of the seller, potentially deterring serious buyers. The Role of Technology in Real Estate Photography Advancements in technology have elevated the standards of real estate photography. Drones, for instance, enable photographers to capture stunning aerial shots that showcase a property's surrounding landscape and neighborhood. Virtual reality (VR) and 3D imaging allow potential buyers to take virtual tours, providing an immersive experience without stepping foot inside the home. By embracing these technological tools, real estate photographers can offer a more comprehensive view of a property, catering to the evolving preferences of modern buyers. This not only enhances the marketing strategy but also positions the property as a forward-thinking and desirable investment. To conclude, in the competitive world of real estate, where first impressions and visual appeal are paramount, real estate photography emerges as a game-changer. The impact of well-crafted, professional images cannot be overstated – from attracting potential buyers to conveying the unique character of a home and building trust in the minds of prospective buyers. In the digital age, where homebuyers engage in digital window shopping and make split-second decisions, the importance of real estate photography is undeniable. It's not just about capturing images; it's about telling a compelling story, setting the stage for success, and standing out in a crowded market. As technology continues to shape the real estate landscape, embracing innovative tools and techniques in photography further enhances a property's marketability. In essence, real estate photography isn't just a complementary element; it's a powerful catalyst that can transform a listing into a dream home and, ultimately, seal the deal for a successful sale. To view the original article, visit the Transactly blog.
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Putting Clients First: How to Deliver Positive Real Estate Outcomes with RPR
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Real AI: The magic of the prompt, AI dominates Connect NY, facts, headlines and the Quote of the week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. The magic of the prompt There's a secret to maximizing the effectiveness of generative AI that every real estate practitioner who uses AI must know above all else: the key to unlocking the best AI has to offer is in your prompts. This is a universal AI truth. It does not matter if you are using ChatGPT, Claude, or any other AI language model. The magic of maximizing AI effectiveness can be found by perfecting your prompts. The principle of "garbage in, garbage out," or GIGO, still applies. If your prompt is poor, you are going to get a poor-quality result. Many real estate professionals, when first using ChatGPT, often provide generic or general prompts that delivers generic answers and content. When crafting your prompts, consider these five Ps: Preparation: Before submitting your prompt, take time to carefully think through what you are trying to achieve. Draft your request in a separate document where you can revise and refine it. Provide the context and provide as much detail as possible. Also, share the goal of your inquiry. Precision: Be specific and clear in your instructions. ChatGPT does its best when given highly detailed, clear prompts. Avoid general queries by specifying the type of information you are seeking as well as the format you need it in. Patience: One of the first rules you will learn to improve your use of ChatGPT is to never accept the first output. Understand that getting your desired response is highly likely to require some back-and-forth interaction. This is one of the best ways to learn how rephrasing or expanding on your initial prompt will unlock more effective results. Probing: Don't hesitate to ask follow-up questions or request elaboration on certain points. If you ask ChatGPT to assist with an 850-word blog post, do a word count: it's likely to be off, often falling significantly short. Push back and ask for a more expansive draft. Don't be afraid to ask it for examples, or request clarification on a specific part of the response. Persistence: If the response you receive isn't what you expected or if it lacks certain details, be persistent. AI also can hallucinate and provide you with a completely inaccurate response. If it does, and the error is obvious, point it out to ChatGPT and ask for a better result. Don't be afraid to start over and rework your prompt, incorporating feedback or additional information from previous interactions where you had better success. Reiterate your request with adjusted wording or additional context, and that can help move ChatGPT closer to delivering the response you need. The bottom line: Well-prepared prompts lead to much better and more original results. AI dominates Inman Connect NY Returning from Inman Connect NY last year was a bit of a bummer. ChatGPT had exploded on the scene two months earlier and our expectation was a slew of AI panels. Or the very least, a hands-on ChatGPT track. Instead, Connect NY was nearly ChatGPT free. What a difference a year makes! AI was everywhere at Connect NY 2024. If it wasn't in the title of a keynote or panel, it was mentioned in nearly every discussion. Sitting in on many of the major AI sessions yielded a mix of the magnificent and mediocre. We'll pass on the mediocre and share a gold nugget that was a magnificent find: a giveaway from Phil Stringer after his deep dive into perfecting prompts. I did not know about Phil and never heard him speak before Connect. As I told him afterwards, I was fully prepared to be seriously disappointed. I've written about how so many real estate conference AI speakers have been complete duds. They all have been spectators, not doers. The title, "Your Custom 2024 AI-Powered Content Plan" made me suspect Phil was a poser. I was wrong, very wrong, thankfully. A former COO of a North Carolina real estate brokerage, Phil created the "The AI Agent Academy," becoming an AI coach and speaker. For his Connect talk, he polled the crowd to vote on one of five presentations – he only had time for one – that included using his highly creating one year's worth of a newsletter campaign, a year of blog posts (100), a year of TikToks or Insta Reels, a year of YouTube videos or a year of ads. The year of ads won. Phil went through his process, providing detailed prompts for ChatGPT to first understand your business and goals, create highly detailed client personas with a list of pain points, create the targeted ads, and then provide the "hooks" needed to make the ads work. Here's the kicker: at the end of his talk, he gave away all his well-crafted, highly detailed prompts for all five marketing programs, not just the ad one he covered at Connect. As long as this link remains alive, you can get your PDF of all five program prompts here. The only big disappointment in Connect NY this time around? No Rabbit R1 giveaways. Next Connect, please. AI Five Fast Facts AI is expected to automate up to 800 million jobs by 2030 and create 97 million new AI-related roles – McKinsey More than one-third (37%) of business leaders said that AI will replace workers in 2024 – CNBC 85.1% of AI users utilize AI-powered CRM (Customer Relationship Management) for content creation and article writing – Authorityhacker Almost half (49%) of employers expect AI to have a positive impact on job growth – Weforum More than one-fourth (26%) of business organizations use AI for marketing and sales – IBM Sources: Various collected by AIMultiple AI Headlines Take 5 AI far too expensive to replace humans in most jobs, MIT study finds | 1/22/24 - Fortune The cost-effectiveness of AI should be considered in job replacement. Bracing against a rising tide of real estate fraud | 1/22/24 - HousingWire Scammers are weaponizing AI to commit fraud. AI Everywhere: The Unmissable Highlights From Davos 2024 | 1/22/24 - Forbes AI takes center stage at this year's World Economic Forum. The generative AI future will not be free | 1/19/24 - Business Insider Consumers should be ready to start paying for new AI models. When Might AI Outsmart Us? It Depends Who You Ask | 1/19/24 - TIME Experts debate if "human-level" AI will be able to surpass the human mind. Quote of the week To view the original article, visit the WAV Group blog.
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A New Horizon: The American Real Estate Association Offers Agents a Fresh Alternative
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[Podcast] How to Stay Accountable When You Miss Your Target Goal
Real estate professionals consider their business plan their Bible, especially at the start of a new year. But chances are good that potential curveballs in the housing market may throw you off your goals as the year progresses. What's important is how you respond and adjust your plan of action in these challenging moments. Host Marki Lemons Ryhal speaks with two practitioners — Lynn Madison and Moses Seuram — who have advice for what to do when you realize you need to make changes to your business plan in order to stay on track. Listen on: Apple Podcasts Spotify Libsyn Visit the episode homepage for show notes and more detail.
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The KPIs and Metrics That Matter for Real Estate Success
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Upcoming Changes to Google's DNS Policies: What you need to know
You might have heard that there are some upcoming changes to Google and Yahoo policies around sending business emails through their services—and you might have a few questions about it. To help clear up what's happening, here's a quick look at what you need to know. What's happening? Starting on February 1, 2024, Google and Yahoo are introducing stricter policies around business emails received by Google and Yahoo email addresses to verify that the emails sent are authentic. The goal is to reduce spam. These policy updates will require all businesses to authenticate their email domains through their DNS records to continue sending emails. Why is this happening? This change is an initiative on Google's part to combat the volume of spam and phishing emails that consumers receive, and is being done entirely independently of third-party website and email providers. What does this mean for you? Generally speaking, users of CRM solutions for business email purposes will be required to authenticate their email address domains with a DMARC policy in their DNS records—whether it's their own domain or a domain owned by their brokerage. We'll continue to update you as these policies roll out to make sure you don't experience any interruptions in your business communications. Stay tuned for steps and how to reach out if you have any questions or concerns! To view the original article, visit the Lone Wolf blog.
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How to Increase Home Value for Appraisal
When it comes to real estate, understanding how to maximize your listing's value is crucial. An appraisal is a significant step in this journey, determining how much a home is worth in the current market. Understanding Home Appraisal An appraisal is an unbiased professional opinion of a home's value. It's essential in determining the selling price, refinancing, and securing a mortgage. Appraisers assess various factors, including location, size, condition, and market trends. Understanding these things can help you pinpoint where to invest your efforts. Preparing for the Appraisal Preparation is key. Gather all relevant documents, such as records of home improvements and recent repairs. Enhancing curb appeal is equally vital. Simple steps like landscaping and a clean exterior can make a positive first impression. Cost-Effective Improvements Investing in minor repairs can significantly impact the appraisal. Fixing leaks, cracks, and squeaky doors are examples. A fresh coat of paint and aesthetic touch-ups can also elevate the property's appeal. Additionally, upgrading to energy-efficient fixtures can be a lucrative investment for sellers, appealing to environmentally-conscious buyers and appraisers alike. Major Renovations and ROI Focus on areas with high ROI, like the kitchen and bathrooms. These renovations typically offer the best return. Adding functional spaces, such as an extra bedroom or home office, can also significantly boost value. However, it's crucial to evaluate the cost against the potential increase in appraisal value. The Role of Professional Staging Professional staging can transform the look and feel of a home, making it more attractive to appraisers and buyers. If professional staging isn't an option, DIY staging tactics like decluttering, rearranging furniture, and adding appealing décor can be effective. Working with Professionals Seeking guidance from experienced real estate experts like Revive can provide valuable insights into increasing your home's value. They can offer specific advice tailored to your property and the current market conditions. Choosing the right appraiser is a critical step in this process. Key Takeaway Increasing a listing's value for appraisal involves a mix of minor improvements, strategic renovations, and expert advice. By understanding what appraisers look for and investing in the right areas, homeowners and real estate professionals can significantly influence the appraisal outcome. To view the original article, visit the Revive blog.
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The Connection Between Real Estate and Economic Growth
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Real AI: Survey reveals real estate's heavy use of AI, fast facts, five headlines, and a Quote of the Week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. AI survey reveals real estate's heavy use, wide adoption A brand new study from real estate tech leader Delta Media shows the popularity and use of artificial intelligence (AI) in real estate has become nearly ubiquitous among America's leading real estate brokerages. Today, 75% of America's real estate brokerages already use AI technology, and almost 80% report that their agents have adopted AI tools. The responses, compiled from more than 130 leaders of real estate brokerages representing firms responsible for 65% of all real estate transactions nationally last year, also uncover worries about risks related to unchecked AI usage. Among the most striking findings come from gender differences: Female leaders recognize AI's importance more, especially in mid-sized brokerages with substantial transaction volumes. A greater percentage of female leaders (85.3%) utilize AI in their businesses than male leaders (70.4%). Female-led brokerages, particularly those with medium to large agent teams and high transaction volumes, are the most likely to use AI. The youngest and oldest male leaders, overseeing smaller brokerages, are less inclined to integrate AI. What's the profile of the "typical" brokerage leader using AI today? He (predominantly male) is an experienced senior executive helming a mid-sized brokerage. This contrasts with the characteristics of brokerages most actively using AI, often led by women aged between 31-39 or 50-59 years, managing a considerable number of agents and overseeing substantial transaction volumes. Among the other top findings: More than half of the top brokerage execs said they are "worried or very worried" that AI "does not have the appropriate guardrails" to limit their risk or liability around it. Real estate agents employ AI in their day-to-day business, primarily leveraging this technology to craft property descriptions (82%), followed by generating blog posts, emails, and letters (67%), social media content (60%), website content (44%), and writing personal bios (43%). AI is not just present but growing, with executives rating its current importance to the industry at 5 out of 10, which surges by 40% when asked about AI's importance in the "near future." Leaders note they plan to leverage AI in the future; digital marketing (73%) and social media (72%) are the leading anticipated uses. While some experts predict 2024 will be the year of AI personal assistants, only 23% of brokerage leaders see AI used for front-office or admin support this year. Remarkably, one in ten (11%) have "No plans to use AI" this year. AI fears But rapid AI adoption in residential real estate isn't without some misgivings: More than half of the top brokerage execs responding said they are "worried or very worried" that AI "does not have the appropriate guardrails" to limit their risk or liability, with female leaders slightly more concerned than their male counterparts. The highest level of worry is among brokerage leaders aged 60 or older, especially those managing smaller teams and lower transaction volumes. Conversely, middle-aged leaders of large brokerages with massive transaction volumes exhibit the least concern. Michael Minard, owner and CEO of Delta Media and an AI thought leader, notes, "As AI reliance grows, brokerages need assurance that their tech partners providing these tools have sufficient safeguards to protect them from the potential downsides. Managing risks remains an imperative even as competitive pressures make adoption table stakes." AI Fast Facts Nine in 10 global organizations believe AI will give them a competitive edge over their rivals – MIT Sloan Management Nearly 40% of large companies plan to use AI, according to Adobe, but among real estate brokerages, usage is nearly double that (75%), according to Delta Media. Studies show that almost 100 million people will be working in the AI industry by 2025 – We Forum Nearly 4 in 10 marketers believe that AI email marketing improves market revenue – Statista AI and Machine Learning are expected to replace about 1 in 6 US jobs in less than half a decade – Forrester Sources: Various collected by Exploding Topics AI Headlines: Take 5 What AI Can Do for Real Estate Professionals, and What It Won't | 1/17/24 - RISMediaAI can be your personal assistant, but AI can't replace real estate agents. Big Thinkers: Meet the AI Leaders Changing the Future of 3 Important Industries | 1/13/24 - Success MagazineGlenn Sanford of eXp Realty is identified as helping to pave the way for AI in real estate. Davos 2024: 5 business leaders on adopting AI and managing associated risks | 1/15/24 - World Economic ForumDespite significant "job re-organization," AI will lead to the emergence of new job roles. How CTOs can make the case that AI investments create value | 1/12/24 - FortuneConcrete examples of how AI is being used to create value at firms like Papa John, Canva, and Cushman & Wakefield. 2023 Was About Using AI. 2024 Is About Using It Better: Mosaik CEO | 1/16/24 - Inman NewsMosaik founder and CEO Sheila Reddy discusses AI's future ahead of Inman Connect. Quote the week To view the original article, visit the WAV Group blog.
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Best Tech Tip: Doing This One Thing Fixes a Majority of Your Device Glitches
What's our best tech tip? We live in an age where the hum of technology is as constant as the ticking of a clock. Technology is our silent partner in nearly every daily task: it is everywhere from the moment we silence our smartphone alarms in the morning to the second we power down our laptops at night. Yet, technology, unfortunately, is not infallible. Glitches and freezes can turn a happy workday into a hectic one. However, there is a surprisingly simple yet often overlooked remedy to many of our technological troubles: properly restarting our devices. First things first Before touching that power button, make sure all your work is saved. This step cannot be overstated, especially when documents, client information, and contracts are involved. If you can't save your files because your computer is frozen, here's a workaround hack: if visible, take a picture of the documents to capture a temporary backup until you can (hopefully) access the documents or retrieve the temporary file versions. If not, at least you have a partial record to recreate. Pro tip: When your computer is frozen, it's a great time to reach out to a Tech Helpline analyst who might be able to get you "unstuck" by guiding you through troubleshooting steps. The proper sequence to power down Closing all open applications is your next step. This action goes beyond simply saving work; it's about terminating tasks that could be causing your device to malfunction. This includes your web browser, which often runs multiple processes in the background that can consume valuable memory and processing power. When you are powering down, there is a sequence that you should ideally follow. First, don't touch that power button! Instead, try to use your operating system's standard shutdown and restart prompts, if possible. This lets your computer close all running processes correctly, save necessary system information, and power down without risking data corruption. For smartphones or tablets, use the device's built-in power-off function to ensure all apps are automatically closed correctly before the device turns off. Pro tip: Before you flip the power switch on your laptop because it is frozen, again, you should contact a Tech Helpline analyst for assistance first. The technical reasons it works From a technical standpoint, restarting your device clears its RAM or Random Access Memory. The RAM serves as the device's immediate memory, temporarily storing data from active processes. Much like a desk cluttered with files, a RAM brimming with data from various applications can become inefficient and, eventually, unresponsive because it is overwhelmed. Shutting down also resets the system's cache or cache memory. Cache, as defined by Britannica, is a "supplementary memory system that temporarily stores frequently used instructions and data for quicker processing by the central processing unit (CPU) of a computer. The cache augments, and is an extension of, a computer's main memory." While intended to speed up process times by storing temporary files, your cache can become corrupted or overloaded. This can cause applications to freeze or crash. Restarting the device clears the cache, much like emptying the trash bin below your desk to prevent overflow. How to envision the benefits of a restart In lay terms, imagine your device as an employee with a desk piled high with tasks (data). Throughout the day, this employee becomes less efficient as the pile grows. By the end of the day, if these tasks are not filed away (saved), and the desk is not cleared (applications closed), the next day begins with yesterday's clutter: the employee is behind even before their day starts! Powering off your device with a restart is akin to that employee having a fresh, clean desk to start each morning. Longer-term benefits Beyond the immediate fix, there are long-term benefits to powering down devices and restarting them. You can prolong the life of your devices by allowing them to cool down, reducing the risk of hardware damage from overheating. Leaving your laptop or desktop on all the time can be detrimental. Restarting also ensures that any updates to your software or security patches to your operating system have the chance to install correctly, as many times, they will require a complete restart to take effect. Making it a routine For real estate agents, making device restarts a part of your regular work routine can mean the difference between a productive workday and one packed with hours lost to troubleshooting. By simply powering off your devices regularly, you ensure they're ready for performance. The bottom line Powering down your devices can become a regular maintenance ritual that ensures your digital tools can keep up with the relentless pace of life as a real estate agent! Yes, it takes a bit of time and patience, but you often can gain a giant leap in device performance. So, give your devices the break they crave and take that moment during the restart to enjoy a few moments of quiet in your busy world. And keep in mind that if during any of these steps, things go sideways – or you need extra assistance – contact a Tech Helpline analyst to help you get things fixed! To view the original article, visit the Tech Helpline blog. Related reading 5 Common Tech Mistakes Real Estate Agents Should Avoid The 5 Most Common Questions Agents Ask When They Call Tech Support Top Tech Issues Every Real Estate Pro Faces
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[Podcast] Strategies for Successful Business Planning in the New Year with Matthew Rathbun (Part 2)
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11 Tips to Build and Nurture Your Client Database
2024 is sure to heat up, and you're in the perfect position to get ahead of the curve with a solid game plan. To succeed, grow, and thrive, it's crucial you make the most of your client database. With these 11 tips, you can build and maximize your client roster for a successful year ahead. 1. Start with Social Media Social media is a crucial tool for any business, especially for real estate. With social media, you can get more eyes on your business, reach previously untapped audiences, build brand awareness, position yourself as a trusted expert, and so much more. Think of social media as the gateway to building your client database by adding new prospects and leads. Leverage a to keep your content creation and posting efforts on track, year-round. Remember, the algorithm favors regular, consistent posting and engagement. In turn, you can help increase the odds your posts get seen and shared more. Watch Now: How I Generate Serious Leads from TikTok & Instagram 2. Don't Neglect Your Website Your real estate website is another crucial tool to leverage for building out your client database. It's a powerful platform, allowing you to showcase your authority by spotlighting your brand, showing off your latest listings, highlighting your reviews, and sharing your thoughts and experiences. The best ways to maximize your website? Leverage a real estate technology partner with customizable, high-converting IDX websites. Maintain your blog and update it regularly with relevant, insightful content. Write a killer bio for your 'About' page to build trust in your expertise from the start. Host client testimonials on your website for prospects to see what it's like to work with you. Showcase your latest listings for prospects to learn more about. As an added bonus, you can direct your social media followers to your website to expand and strengthen your online presence, helping support a growing database of clients. 3. Get Out in the Community Nothing builds better rapport with the market you serve than getting out in the community. It will also build your client database in a meaningful, organic way. Volunteer with local charities and organizations, and consider sponsoring them or their events. Go door-to-door to introduce yourself to the neighborhood. Host local events and be an active participant in neighborhood happenings. The more eyes you get on your brand, both online and off, the more you can build your client database with ease. 4. Partner with Local Businesses Also known as co-marketing, partnering up with local businesses to promote one another is a great tactic to reach new audiences offline and more naturally. To leverage this tactic effectively, make sure to promote your businesses in a way that complements each of your offerings and also addresses consumer needs. Ask a business owner or vendor you work or have rapport with to reshare your posts on social media, co-author a guest blog on your website, or co-host events with you. Then, do the same for them. By crossing over into one another's audiences, you can reach new potential clients to build up your network. 5. Activate Your Sphere of Influence Your sphere of influence is made up of your connections, who can turn into clients (or send them your way) and later lead to giving you referrals. That is a lot of potential business, so it's crucial to tap into this network. Stay in touch with your SOI through email campaigns specifically made for them, engaging with their social media posts, and by giving them a call or shooting them a text once in a while. Lead in with wishing them a happy start to the year, and give them a little reminder of your recent wins and your readiness to help anyone with the home buying or selling process. Sometimes, a simple connection and nudge for what you're up to can spark a lightbulb moment to get you in touch with your next client. 6. Educate Potential Clients on the Process You know you're the expert on all things buying or selling. And for people who are gearing up to embark on what's considered the transaction of a lifetime, they need to know you're there to guide them every step of the way. Position yourself as a knowledgeable, committed real estate expert by walking your prospective clients through every part of the buying or selling process. Provide them with educational content, designated meetings, and phone calls to answer any and all questions. By having an open door, and showing you know your stuff, you can nudge even the most tentative of prospects over the fence into a full-on client. 7. Automate Your Follow-Up Process With so many tasks, meetings, and responsibilities that pile up, day after day, it can be tough to feel like you have enough time to manage your client database. So, wherever possible, leverage the power of automation. When it comes to your follow-up process, tap into the power of your CRM to take advantage of automated email responses and nurture campaigns, text message auto-responders, and reminders to give clients and prospects a call. This will take the guesswork out of the who, how, and when to nurture your client database, freeing up your time and mental capacity to focus on forging more meaningful connections. 8. Send Out a Monthly Newsletter Use the space offered by a monthly, scheduled newsletter to keep prospects and clients alike up to speed with what's happening in your business and their local market. A monthly newsletter allows you to showcase your expertise and activities so you can educate prospects and clients. It also provides a way for your database to reach out to you directly by email response or your contact information in the newsletter, keeping you top of mind no matter where they are in their buying or selling journey. 9. Stay in Touch with Past Clients Nurturing your relationships with past clients, no matter how settled into their homes they are, is crucial to your business. Stay top of mind by creating a unique email nurture campaign for past clients, checking in with them on a consistent, but not too frequent, basis, and sending them annual postcards or small gifts on key dates. They could always come back when they are ready to sell or buy again, and they can provide invaluable referrals. Because you're staying in their orbit, they'll know to get in touch with you, helping to build out your client database even more. 10. Ask for Reviews When you get to the closing table and seal the deal successfully, you're in the optimal window to ask your clients for reviews. Ask them what it was like working with you, and get their permission to share it far and wide, publishing it on your Google Business Profile, website, and social media profiles. Having a legitimate perspective from real-life clients' experiences builds your credibility, so prospects searching for the perfect agent in your area know what it's like to partner with you. 11. Reward Your Referrals When previous clients provide you with referrals, why not show them appreciation back? You can send a small gift and nice handwritten note, or even consider hosting events for clients who have provided referrals. This is a great way to nurture existing clients and give them a reward so they can keep sending new clientele your way. To view the original article, visit the Inside Real Estate blog. Related reading Get More ROI from Your CRM Real Estate Agents: Cash in on the Money in Your 'Trash' 3 Ways to Create Forever Clients Using Your Real Estate CRM
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A Year in Real Estate: A checklist for the first quarter
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Listing Appointment Checklist: 15 Things You Need
In the fast-paced and competitive world of real estate, being well-prepared for a listing appointment is not just beneficial—it's essential. A listing appointment is an opportunity for real estate agents to impress potential clients, showcase their expertise, and secure a contract. This checklist will ensure that you are equipped with everything you need to make your listing appointments as successful as possible. 1. Market Analysis Reports In an ever-changing real estate market, staying informed with current market data is vital. These reports give you and your client a clear picture of the local real estate scene, including pricing trends and market demand. Utilize this data to guide your client through pricing strategies and market expectations. Revive's Vision AI tool can help streamline this for you. 2. Comparative Market Analysis (CMA) A Comparative Market Analysis is a cornerstone tool in determining the right listing price. It compares the subject property with similar properties that have recently sold, are currently on the market, or were taken off the market. Presenting a well-researched CMA helps in setting a realistic and competitive price for the property, which is crucial for a successful sale. Vision AI also helps with this. ‍ 3. Professional Marketing Materials High-quality brochures, business cards, and other marketing materials create a lasting impression. These materials should highlight your brand, services, and success stories. They not only provide tangible information to potential clients but also reinforce your professional image. 4. Digital Presentation Tools The use of digital tools like tablets or laptops can significantly enhance your presentation. These devices allow you to showcase interactive property listings, virtual tours, and even digital versions of your marketing materials. They offer a dynamic and engaging way to present information to clients. 5. Camera and Measuring Tools Quality photographs are essential for listing properties. Having a good camera enables you to capture the property in its best light. Additionally, accurate measurements of rooms and outdoor spaces are critical for listing details. Ensure you have reliable measuring tools like a laser measure or a tape measure. 6. Pre-Listing Package This package should include your biography, information about your agency, marketing strategy, and testimonials. Tailor this package to each client by including relevant market analysis and potential listing strategies for their property. This personalized approach demonstrates your dedication and preparedness. 7. Property Research Documents Gather all necessary documents related to the property, including its history, tax information, and any relevant legal documents. These documents help in answering client questions accurately and building their confidence in your knowledge and capabilities. 8. Home Improvement and Staging Suggestions Offer suggestions for simple improvements or staging that can enhance the property's appeal. Discuss these options with the homeowners, providing examples of how such enhancements have positively impacted sales in the past. 9. Testimonials and Success Stories Include a section in your presentation or package that showcases your past successes and client testimonials. This builds credibility and trust, showing potential clients that you are capable and results-driven. ‍10. Listing Agreement Forms Be prepared with different types of listing agreements and ensure that you have all the necessary forms. Familiarize yourself with each form's specifics so you can explain them clearly to your clients. ‍11. Disclosure Forms Having the correct disclosure forms is also important. These forms protect both you and the seller by ensuring all necessary information is legally disclosed. Be ready to explain the purpose and contents of these forms to your clients. ‍12. A Plan for Communication Outline how you plan to communicate with the seller throughout the selling process. This includes setting expectations for regular updates, feedback, and availability for questions. Effective communication is important to maintaining a good agent-client relationship. ‍13. Local Market Insights Your knowledge of the local real estate market can be a significant advantage. Share insights that are specific to the area where the property is located, such as community developments, school ratings, or local events. ‍14. Personal Safety Measures Be properly prepared and always consider personal safety during property visits. ‍15. A Follow-Up Strategy After the listing appointment, having a structured follow-up plan can make a big difference. Whether it's a simple thank you note, a phone call, or an email, timely follow-ups keep you at the forefront of the client's mind and demonstrate your dedication. Happy Listing! To view the original article, visit the Revive blog. Related reading Tips for Growing the Listing Side of Your Real Estate Business Don't Make These Listing Presentation Mistakes Guide to Delivering a Winning Listing Presentation
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Mastering Technology to Stay Ahead in Real Estate
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Google Bard or ChatGPT: Which is better for real estate pros?
It's obvious that AI is involved in everything — no doubt it's effecting the real estate industry too. You've no doubt heard about the most popular AI tools like ChatGPT and Google Bard, but how can we use them? How do they benefit real estate professionals? In this article, we'll talk about the benefits and features of these two, and give you examples on how you can use them. Google Bard, with its ability to generate poetry, songs, and even interactive drama, offers a unique and creative way to engage with potential clients. Its natural language processing capabilities provide a personalized and aesthetically pleasing experience, making it an ideal choice for real estate professionals looking to connect with their audience on a deeper level. On the other hand, ChatGPT, powered by OpenAI, excels in conversational AI, allowing real estate professionals to provide instant responses and assist clients with their queries in a more conversational manner. Its versatility, adaptability, and user-friendly interface make it a valuable tool for managing customer interactions effectively. Both Google Bard and ChatGPT bring something unique to the table, making it challenging to determine which one is better for real estate professionals — until now! Let's begin: Features and Capabilities of Google Bard Google Bard is an AI language model that specializes in generating creative content such as poetry, songs, and interactive drama. With its natural language processing capabilities, Google Bard can provide a personalized and aesthetically pleasing experience for both real estate professionals and their clients. It lets professionals connect with their audience on a deeper level by creating engaging and unique content that stands out from traditional marketing approaches. Google Bard can also generate property descriptions, allowing real estate professionals to showcase listings in a more captivating and compelling way. By leveraging the creative power of Google Bard, professionals can create content that resonates with their target audience and helps them stand out in a crowded market. Furthermore, Google Bard's interactive capabilities can be used to create virtual property tours or immersive storytelling experiences, providing potential buyers with a more engaging and memorable way to explore properties. This can significantly enhance the virtual home buying experience and help real estate professionals differentiate themselves from competitors. Benefits of using Google Bard for real estate professionals By utilizing Google Bard, real estate professionals can: Engage with potential clients on a deeper level by creating personalized and creative content. Stand out from competitors by leveraging Google Bard's unique capabilities to generate captivating property descriptions. Provide a more immersive and interactive virtual home buying experience. Enhance their brand image and build stronger connections with clients through the use of aesthetically pleasing content. Google Bard offers real estate professionals an innovative way to connect with their audience and differentiate themselves in a competitive market. Its ability to generate creative content and provide a unique user experience makes it a valuable tool for real estate professionals looking to enhance their marketing efforts. Features and capabilities of ChatGPT ChatGPT, powered by OpenAI, is a conversational AI language model that excels in providing instant responses and assisting clients with their queries in a more conversational manner. Real estate professionals can leverage ChatGPT to automate customer interactions, provide quick answers to frequently asked questions, and offer personalized assistance throughout the buying or selling process. ChatGPT's versatility and adaptability make it a valuable tool for real estate professionals. It can be integrated into various platforms such as websites, chatbots, and messaging apps, allowing professionals to meet their clients wherever they are and provide seamless customer support. Its user-friendly interface makes it easy for real estate professionals to manage and customize their interactions with clients, ensuring a smooth and efficient communication process. Benefits of using ChatGPT for real estate professionals By utilizing ChatGPT, real estate professionals can: Provide instant responses and assistance to clients, improving customer satisfaction and engagement. Automate customer interactions, freeing up time for professionals to focus on other important tasks. Offer personalized assistance throughout the buying or selling process, enhancing the overall customer experience. Easily integrate ChatGPT into various platforms, ensuring a seamless communication process for clients. ChatGPT empowers real estate professionals to effectively manage customer interactions and provide timely assistance. Its conversational AI capabilities enable professionals to offer personalized support and streamline their operations, ultimately improving client satisfaction and business efficiency. Examples of Google Bard in real estate Property descriptions: Google Bard can generate captivating property descriptions that highlight the unique features and benefits of each listing. This can help real estate professionals capture the attention of potential buyers and make their properties stand out. Virtual property tours: By utilizing Google Bard's interactive capabilities, real estate professionals can create immersive virtual property tours. This allows potential buyers to explore properties in a more engaging and interactive way, even from the comfort of their own homes. Personalized marketing campaigns: Real estate professionals can use Google Bard to generate personalized content for their marketing campaigns. Whether it's personalized emails, social media posts, or blog articles, Google Bard can help professionals create content that resonates with their target audience and drives engagement. Examples of ChatGPT in real estate Automated customer support: Real estate professionals can integrate ChatGPT into their websites or chatbots to provide instant responses to frequently asked questions. This allows clients to get the information they need quickly and efficiently, improving customer satisfaction. Personalized property recommendations: By leveraging ChatGPT's conversational AI capabilities, real estate professionals can offer personalized property recommendations based on clients' preferences and requirements. This helps clients find properties that align with their needs and increases the chances of closing a deal. 24/7 availability: ChatGPT can be available round the clock to assist clients, even outside of regular business hours. This ensures that clients can get the information they need at any time, improving accessibility and customer experience. Choosing the right tool for your real estate business When deciding between Google Bard and ChatGPT, real estate professionals should consider their specific needs and preferences. Both tools offer unique features and capabilities that can enhance their business operations. Professionals should evaluate factors such as the type of content they want to generate, the level of personalization required, and the preferred mode of communication with clients. If real estate professionals want to focus on creating creative and engaging content, Google Bard may be the better choice. On the other hand, if streamlining customer interactions and providing instant assistance is a priority, ChatGPT may be the more suitable option. Ultimately, the decision should be based on the specific goals and requirements of the real estate professional. It may even be beneficial to combine the strengths of both tools to create a comprehensive AI-powered solution that meets all their needs. To view the original article, visit the Realtyna blog.
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Real AI: No PR – AI will make you a ghost, facts, headlines and the word of the week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. No PR? AI will make you a ghost While using generative AI, Victor Lund, Founding Partner at WAV Group, uncovered a new vital reason why public relations (PR) is essential for every firm, product, and service. His prompt requested AI to create information on firms that offer MLSs rev share for data aggregation and distribution. Granted, only a couple of firms offer this, but the chatbot response only identified one. Turns out the company that it missed doesn't have a PR program in place. Online, to AI at least, their company is a ghost. To AI, your company does not exist. Why is AI making PR so vital? If there is nothing to train on – if you don't have an online footprint – when someone enters a prompt about your firm, service or product, the chatbot will not return any results. More importantly, look at what Google is doing that's related to AI. The Wall Street Journal headline on Jan. 11, 2024 says it all: "Google Trims Hundreds of Jobs as It Marshals Resources for AI." If the world's No. 1 search engine company is going all-in on AI, here are three words for you: search will change. We are already seeing evidence of that with Google Gemini, the major chatbots all connecting to the Internet, and now Microsoft Bing prompting, "Ask me anything," not "Search." The only way Google stays ahead in the search space is through AI. The value of an ongoing PR campaign has been about establishing an online footprint. News releases are not about SEO (duplicative content rules that out), but they are door openers for conversations with reporters and bloggers, and what is proving to be more crucial than ever is that they add to your digital or online footprint. Now you absolutely need an online footprint to train generative AI tools. Otherwise, you are a ghost. Creating your own content for blogs and social media is great, but news coverage is gold. These are third-party expert information sources. AI will recognize the difference – and the value. Which source do you think will be perceived to have more value? The entire point of having a solid PR program is to help you tell your story with your words. You need to control the narrative of how your company, services, or products are described, or someone else will. And you'll be stuck with whatever moniker someone else comes up with – or spend years trying to unwind a market positioning that someone else labeled you. Finally, a good PR program returns a better ROI than perhaps any other communications or marketing-related tool. Two quotes from innovators to contemplate about the value of PR before AI: "Publicity is absolutely critical. A good PR story is infinitely more effective than a front page ad." –Sir Richard Branson, founder, Virgin Group "If I was down to my last dollar, I would spend it on PR." –Bill Gates, founder, Microsoft Now fast-forward to the next few years and think about how much more essential having an ongoing PR program will be. Every company needs to leverage PR to update key audiences on relevant news stories that not only remind people about the company and its mission, but highlight vital developments that impact customers. Every product should also have its own cadence of releasing meaningful news that customers need to know about. Remember, news releases in and of themselves won't help with SEO, but earned news coverage and wire releases will provide the ingredients that will shape the narrative of how AI will harvest and include information about your company and its products. AI + CES As an early and regular attendee of last week's Consumer Electronics Show or CES, I can confirm firsthand it is the land of what's next in tech. One of the first shows I went to (I was in grad school and working for an LA PR firm part-time), I thought I heard Billy Joel playing live. It was a new technology called a Compact Disc or CD. But it sounded so real! This CES was all AI. Mirrors, rings, cars, TVs, grills, toothbrushes – even mattresses and pillows – are now leveraging AI. CNET does a great job describing some of this in its coverage. Check out this piece: "AI Is Everywhere at CES 2024. Here's the Coolest Tech We've Seen So Far." AI Five Fast Facts OpenAI's website receives nearly 1.8 billion visits per month – Similarweb Around 4 in 5 companies deem AI to be a top priority in their business strategy – Forbes 19 in every 20 customer interactions will be AI-assisted by 2025 – AI Business By next year, nearly 100 million people will be working in the AI sector, as the industry generates 12 million new jobs – World Economic Forum A survey of 1.4k+ sales pros found that 45% felt overwhelmed by the amount of tools in their tech stacks, and 78% said AI makes them more efficient in their roles. – Hubspot Sources: Various collected by AIMultiple AI Headlines Take 5 Alexa just got three new generative AI skills – here's how to try them | 1/10/24 - ZDNetUse Alexa to talk to Winston Churchill (and others), create a song, and even play 20 Questions. GPT Store is OpenAI's most compelling reason to become a ChatGPT Plus subscriber yet | 1/10/24 - ZDNetFrom tools to help you with code to personalized trail recommendations, the store is now open. AI is a vital part of CoreLogic's new Clareity Assure security platform for MLSs | 1/10/24 - WAV GroupClareity Assure can integrate as a front door to all MLS systems regardless of vendor. What's next for AI in 2024 | 1/4/24 - MIT Technology ReviewLearn about the four hot AI trends to watch out for this year. AI-powered misinformation is the world's biggest short-term threat, Davos report says | 1/10/24 - San Diego Union-TribuneAI's dark side can cause catastrophic damage. Word of the week To view the original article, visit the WAV Group blog.
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Seeking a Free E-Signature Tool? Google Might Be the Answer
Last year, Google announced that it was rolling out a new feature in open beta: eSignature for Google Docs and Google Drive. The tool allows users to request and capture eSignatures in Google Docs – no PDF or DocuSign account necessary. In December, the company had another announcement about its eSignature initiative. The feature is officially out of beta testing and is now available for all Google Workspace Individual customers. How Does Google eSignature Work? Adding an eSignature to a Google Doc is easy — if you have access to the feature. Users who do will see an eSignature side panel in their Google Drive interface, which they can use to upload an existing PDF or create or open a Google Doc. Users can then designate which signers they want to sign the document (up to 10 signers are available, with labels, each assigned a unique color for ease of access), and can add fields including full signature, initials, name, or date signed. You may add up to 200 fields to each document. Why Can't I See This Feature Yet? Most users are still not going to have access to Google eSignatures; the feature is currently widely available for any users with a Google Individual Workspace account. Agent solopreneurs who have secured this kind of account will see the tool in their Google Drive. Other Google users will have to wait to use the tool. If you have a Google Workspace Business Standard, Business Plus, Enterprise Starter, Enterprise Plus, Enterprise Essentials, Enterprise Essentials Plus, or Education Plus account, then you're just going to have to be patient until it's ready for your account type. (Google was accepting applications for beta testers in this group in December 2023.) What Else Is New From Google? Part of this update also includes the ability to create custom email layouts in Gmail for newsletters, announcements, and other marketing materials. Users can now customize existing templates, reuse their layouts, and more, including a drag-and-drop tool that makes design even easier. Have you tried the new eSignature offering from Google in your account? What did you think? We'd love to hear from actual users, whether you want to share a rant or a rave! Related reading Beware, DocuSign: Google Docs now offers eSignatures From Gmail to Drive: 25 Essential Google Tips Every Real Estate Agent Should Know
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24 Fresh Lead Generation Strategies for 2024
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10 Ideas for Staging a Kitchen to Impress Buyers
In the competitive world of real estate, staging a kitchen effectively can be a game-changer in impressing potential buyers. A well-staged kitchen not only enhances the aesthetic appeal of a home but also significantly boosts its market value. These 10 ideas for staging a kitchen can help guide Realtors and homeowners through the best pre-listing choices. 1. Decluttering and Cleaning ‍A clutter-free and immaculately clean kitchen is essential. Start by removing personal items and unnecessary gadgets. Deep clean every corner, focusing on countertops, appliances, and floors. This step sets a blank canvas for further staging efforts. 2. Modernizing Appliances ‍Modern appliances not only add functionality but also appeal to buyers seeking a move-in-ready home. Consider updating major appliances to energy-efficient models. These upgrades, while possibly an investment, can significantly increase a home's appeal. 3. Neutral Color Palette ‍Color influences mood and perception. Opt for a neutral color palette to create a warm and welcoming ambiance. Shades like beige, gray, or soft white are versatile and allow buyers to envision their own decor in the space. 4. Effective Lighting ‍Lighting plays a pivotal role. Incorporate a mix of ambient, task, and accent lighting. Enhance natural light by keeping windows clean and unobstructed. Well-lit kitchens appear larger and more inviting. 5. Adding Greenery ‍Indoor plants bring life to a kitchen. Select low-maintenance plants that add a pop of color and freshness. This touch of greenery can make the kitchen feel more vibrant and homely. 6. Organizing Storage ‍Showcase the kitchen's storage potential. Organize cabinets and drawers neatly. Consider adding shelf organizers or pull-out storage solutions to demonstrate functionality and space maximization. 7. Updating Hardware ‍Small details matter. Updating cabinet handles, drawer pulls, and faucets can modernize the kitchen without a full remodel. Choose hardware that complements the overall kitchen style. 8. Staging Dining Area ‍If the kitchen has a dining area, stage it to appear welcoming. A well-set table or a neatly arranged breakfast bar can help buyers imagine enjoying meals in the space. 9. Personal Touches ‍Add a few carefully selected decor items like artwork or vases. However, it's crucial to avoid over-personalization. The goal is to create a relatable and appealing space, not showcase personal style. 10. Highlighting Unique Features ‍Every kitchen has its unique features, whether it's a vintage stove or a spacious pantry. Highlight these elements through staging, ensuring they catch the buyer's eye and add to the kitchen's charm. Key Takeaway Staging a kitchen effectively can significantly influence a buyer's decision. These 10 ideas provide an easy approach for real estate agents and homeowners to showcase a kitchen in its best light, making it an irresistible part of the home. To view the original article, visit the Revive blog.
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[Podcast] Strategies for Successful Business Planning in the New Year with Matthew Rathbun (Part 1)
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Cracking the Code: A Guide to Real Estate Marketing Terms
Real estate marketing terms can often seem like a foreign language, filled with jargon and complex concepts. However, having a solid understanding of these terms is crucial for success in the industry. By familiarizing yourself with the terminology, you'll be able to navigate the real estate marketing landscape with confidence. Let's quickly dive into it: Real Estate Lead Generation Terms Here are the most important lead generation terms that specialists use a lot: 1. Lead Capture: Definition: The process of collecting information from potential clients, often through online forms, landing pages, or contact forms on websites. Example: Using a well-designed landing page to capture leads by offering downloadable resources or scheduling property tours. Check out our Lead Capture plugin. 2. Lead Magnet: Definition: An incentive or valuable offer designed to attract potential leads and encourage them to provide their contact information. Example: Offering a free e-book on "Top Tips for First-Time Homebuyers" in exchange for the visitor's email address. 3. Conversion Funnel: Definition: The series of steps a potential lead takes from the initial contact to becoming a client. It typically includes awareness, interest, consideration, and conversion stages. Example: Moving a lead from browsing property listings to scheduling a showing and eventually making a purchase. 4. Qualifying Leads: Definition: Assessing the potential of a lead to become a paying customer based on factors like budget, timeline, and specific needs. Example: Asking qualifying questions during an initial consultation to understand the lead's preferences, financial capacity, and urgency. 5. IDX (Internet Data Exchange): Definition: A system that allows real estate professionals to display MLS (Multiple Listing Service) listings on their websites. Enhances the property search experience for visitors and generates leads. Example: Integrating an IDX plugin on a real estate website to showcase up-to-date property listings and capture leads interested in specific properties. Want to more? Check out our comprehensive article titled What is IDX? 6. Lead Nurturing: Definition: Building relationships with potential leads over time through personalized and relevant communication to guide them through the decision-making process. Example: Sending a series of informative emails to a lead, including market updates, financing tips, and exclusive property previews. 7. Inbound Marketing: Definition: Attracting potential leads through content creation, social media, and search engine optimization rather than traditional outbound methods. Example: Publishing blog posts about local real estate trends or creating engaging social media content to draw in potential clients. 8. Call to Action (CTA): Definition: A prompt that encourages leads to take a specific action, such as filling out a form, scheduling a consultation, or downloading a resource. Example: Placing a prominent "Schedule a Showing" button on property listings to prompt leads to take the next step. Want to have CTAs on your website? Visit CTA Plugin. 9. Database Management: Definition: The organized storage and management of lead information and interactions. Helps real estate professionals maintain and leverage their network effectively. Example: Using CRM software to store lead details, track interactions, and set reminders for follow-ups. Real Estate SEO Terms 1. Keyword Research: Definition: The process of identifying and analyzing the specific words and phrases potential homebuyers and sellers use in search engines. Example: Researching keywords like "real estate listings," "homes for sale," or "property investment tips." Keyword research is not that simple. Check our our comprehensive guide on real estate SEO keywords. 2. On-Page SEO: Definition: Optimization efforts made directly on the web pages to improve their visibility in search engine results. This includes optimizing content, meta tags, and images. Example: Optimizing property descriptions, titles, and image alt tags with relevant keywords. 3. Off-Page SEO: Definition: Strategies employed outside of your website to improve its visibility and authority. This often involves building high-quality backlinks from reputable sources. Example: Collaborating with local businesses or influencers to get backlinks to your real estate website. 4. Local SEO: Definition: Optimization techniques focused on improving a website's visibility in local search results. It's crucial for real estate professionals targeting a specific geographic area. Example: Claiming and optimizing your Google My Business listing with accurate business information and customer reviews. 5. SERP (Search Engine Results Page): Definition: The page displayed by search engines in response to a user query. Real estate professionals aim to have their websites rank higher on SERPs for relevant keywords. Example: Monitoring your website's position on the SERP for key phrases like "real estate agent in [your city]." 6. Crawling and Indexing: Definition: The process by which search engine bots (crawlers) discover and analyze web pages to determine their relevance and index them for search results. Example: Ensuring that all important pages on your real estate website are easily accessible and crawlable by search engines. Learn more in How to Optimize Your Indexing Situation and Crawl Budget. 7. Schema Markup: Definition: A structured data markup that enhances the way search engines read and display your website in the search results. It can include details like property prices, addresses, and reviews. Example: Adding schema markup to property listings to provide rich snippets in search results. SEO is much larger than these terms. If you really want to know how SEO is working in the real estate industry, check our Real Estate SEO Guide. Real Estate Social Media Terms 1. Engagement: Definition: The level of interaction users have with your social media content, including likes, comments, shares, and clicks. Example: Encouraging engagement by posting visually appealing property photos and asking followers to share their thoughts. 2. Analytics: Definition: Tools and metrics used to measure the performance of social media campaigns, including reach, impressions, and engagement. Example: Analyzing social media analytics to determine the most effective times to post content for maximum visibility. 3. Targeting: Definition: Refining the audience for social media ads based on demographics, interests, behaviors, and location. Example: Targeting first-time homebuyers in a specific city with ads promoting educational content about the home-buying process. 4. Hashtags: Definition: Words or phrases preceded by the # symbol used to categorize content and make it discoverable to a wider audience. Example: Creating a branded hashtag for a real estate campaign to encourage user-generated content and community engagement. 5. Influencer Marketing: Definition: Collaborating with social media influencers to promote real estate properties or services to their followers. Example: Partnering with a local influencer to showcase and promote a new housing development. Sound interesting yeah? Check out how you can get benefits from social media influencers. Real Estate Email Marketing Terms 1. Drip Campaign: Definition: A series of automated emails sent over a specific time frame to nurture leads and guide them through the sales funnel. Example: Implementing a drip campaign that provides valuable content, such as home-buying tips and market trends, to leads over several weeks. 2. Segmentation: Definition: Dividing an email list into smaller groups based on specific criteria, such as location, interests, or behavior. Example: Segmenting the email list to send targeted newsletters to buyers interested in luxury properties and sellers looking for marketing tips. 3. Open Rate: Definition: The percentage of email recipients who open a given email. A crucial metric to measure the effectiveness of email campaigns. Example: Improving open rates by crafting compelling subject lines and delivering content relevant to the audience. 4. Call to Action (CTA): Definition: A prompt in an email that encourages recipients to take a specific action, such as visiting a website, scheduling a showing, or downloading a resource. Example: Including a clear and prominent CTA button in an email promoting a new property listing. 5. A/B Testing: Definition: Experimenting with variations of email elements (subject lines, content, images) to determine which performs better. Example: Running A/B tests to compare two versions of an email and identify the most effective elements for engagement. PPC (Pay-Per-Click) Advertising 1. Click-Through Rate (CTR): Definition: The percentage of people who click on an ad after seeing it. A measure of how effective an ad is in generating interest. Example: Monitoring CTR to assess the relevance and appeal of a real estate ad to the target audience. 2. Conversion: Definition: The desired action taken by a user after clicking on an ad, such as filling out a contact form, scheduling a tour, or making a purchase. Example: Tracking conversions to measure the success of a PPC campaign in generating leads and sales. 3. Quality Score: Definition: A metric used by search engines to evaluate the relevance and quality of keywords, ads, and landing pages in PPC campaigns. Example: Improving the quality score by creating targeted ad copy and ensuring that the landing page provides valuable information. Learn more at our Complete Guide on Google ads. 4. Ad Extensions: Definition: Additional information displayed with a PPC ad to provide more context and encourage user engagement. Example: Adding location extensions to real estate ads, displaying the office address and phone number for local engagement. ROI (Return on Investment) 1. Cost per Lead (CPL): Definition: The cost associated with acquiring a single lead through a marketing campaign. Example: Calculating CPL by dividing the total campaign cost by the number of leads generated. 2. Conversion Rate: Definition: The percentage of leads or website visitors who take a desired action, such as making a purchase or scheduling a consultation. Example: Improving conversion rates by optimizing landing pages and streamlining the lead generation process. 3. Lifetime Value (LTV): Definition: The predicted total value a customer is expected to bring to a business over the entire relationship. Example: Considering the potential long-term value of a real estate client in assessing the overall ROI of marketing efforts. 4. Attribution Models: Definition: Methods used to assign value to different marketing touchpoints that contribute to a conversion. Example: Using a multi-touch attribution model to understand how various marketing channels and interactions contribute to a successful real estate transaction. 5. Marketing Funnel: Definition: A visual representation of the stages a customer goes through before making a purchase, from awareness to consideration and conversion. Example: Aligning marketing efforts with different stages of the real estate buyer's journey to maximize ROI at each stage. That's it, we covered the most important terms here, there are billions more, we make sure keep updating this content to be always helpful and up-to-date. To view the original article, visit the Realtyna blog. Related reading The 1-Year Challenge: Learn 52 Spanish Real Estate Terms in 52 Weeks 10 Real Estate Abbreviations Every Realtor Should Know Is Your Realtor Jargon Communicating the Full Value of Your Listing?
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How to Choose the Best Real Estate Photographer
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Real AI: AI free-for-all, AI gets its own keyboard key, fast facts, top headlines and Quote of the Week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. The AI free-for-all 2024 is signaling a messy year ahead for AI. Last week, Apple and Disney were told by the U.S. Securities and Exchange Commission that they could not avoid shareholder votes calling for reports on their use of AI. The creators of Siri and Mickey were asked to disclose how the companies are using AI in their business operations. Apple was explicitly asked to reveal "any ethical guidelines that the company has adopted" related to the use of AI, Reuters reported. Likewise, questions for Disney centered on what role its board plays in overseeing AI usage. Seems pretty straightforward, right? Not so fast. Disney and Apple argued that such disclosures were "ordinary business operations," and they don't need to disclose, just like the firm's choice of which technology they use. The SEC disagreed, saying the requested disclosures "transcends ordinary business matters." Who is behind the requests looking for AI use and abuse? The AFL-CIO says they are just asking these giants to disclose like Microsoft already does. Adding to this latest news is the lawsuit against OpenAI for copyright infringement that comes from the New York Times, the recently settled Hollywood strikes, new AI laws making their way through state legislatures (like California) and Congress, and the AI Bill of Rights proposed by The White House. It's a bit of an AI free-for-all out there. How do these things impact real estate? AI usage is already remarkably high in our industry and leading the most. Significant potential impacts of AI are essential to follow – and track. AI gets its own keyboard key Are you a Windows user? Have we got a new key for you! Microsoft has been over the moon about its Copilot technology. Leaked strategically before CES (Consumer Electronics Show) next week in Vegas, Microsoft is touting it as the first change to its keyboard in three decades. First, what is Copilot? It's a shortcut to connect you with Generative AI via Microsoft's Office 365 Suite, including Excel, Word, PowerPoint, and Outlook. It also introduces "Business Chat" as somewhat of a virtual assistant. As Microsoft writes on its blog: Copilot is integrated into Microsoft 365 in two ways. It works alongside you, embedded in the Microsoft 365 apps you use every day — Word, Excel, PowerPoint, Outlook, Teams and more — to unleash creativity, unlock productivity and uplevel skills. Today, we're also announcing an entirely new experience: Business Chat. Business Chat works across the LLM, the Microsoft 365 apps, and your data — your calendar, emails, chats, documents, meetings and contacts — to do things you've never been able to do before. You can give it natural language prompts like "Tell my team how we updated the product strategy," and it will generate a status update based on the morning's meetings, emails and chat threads. The new AI "key" to access Copilot replaces the menu/application key, right next to the right-hand alt key on most keyboards. Press it, and it launches Copilot, which is built into Windows 11. It provides a chat window prompt for questions or requested actions. For now, we understand that Mac users have access to Copilot via Teams or the new Outlook for Mac. However, we're pretty sure Mac users will not flock back to Outlook (at least those of us who remember the horror of that email program; once you go Mac, you don't go back). AI Five Fast Facts A McKinsey survey found that 63% of companies experienced increased revenue after adopting AI into their systems. 35% of Americans believe that AI makes their lives easier, says a study by YouGov and Statista. Pew Research Center reported while more than half (57%) of adults in the United States have heard of ChatGPT, only 14% have tried it. Top 3 industries that adopted Generative AI in the workplace: Marketing and Advertising (37%), Technology (35%), and Consulting (30%), reports Statista. Statista projects the market size for AI-driven robots will reach $77.7 billion by 2030. Source: The Blogging Wizard AI Headlines Take 5 Get Ready for a 'Tsunami' of AI at CES | 12/29/23 - WiredGenerative AI shows no signs of quieting down in 2024. Real estate industry insiders dish about the upcoming year — good and bad | 12/31/23 - Business ObserverPatrick Murphy, founder and CEO of Togal.AI, discusses how AI will impact the construction industry. Rules of the AI Road for 2024 | 1/4/24 - ForbesWith AI technology continuously evolving, it's vital to understand the underlying rules as things change. How technology and artificial intelligence are bolstering the battle against wildfires | 1/3/24 - ReutersPano AI is one of the new "firetech" startups being used to make it easier to contain wildfires. Increase Your Creativity with Artificial Intelligence | 12/27/23 - Psychology TodayLearn more about the various ways AI can amplify your innovativeness. Quote of the week To view the original article, visit the WAV Group blog.
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The Shifting Dynamics of Buyer-Agent Relationships in Real Estate
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Market Outlook: Real Estate Trends We Will Potentially See in 2024
In the ever-evolving realm of real estate, new trends and innovations are bound to emerge. In 2024, the real estate landscape seems poised for exciting shifts, blending innovation, economic factors, and societal changes. Let's embark on a journey into the potential trends that might shape the real estate market in the coming year. 1. Tech Takes Center Stage 2024 promises to be the year where technology seamlessly integrates with real estate transactions. From virtual reality property tours to blockchain-based smart contracts, the industry is embracing digital innovations to enhance efficiency and transparency. Expect to see an upswing in tech-driven solutions streamlining everything from property searches to closing deals, making the entire process smoother for buyers and sellers alike. 2. Sustainable Living Becomes Non-Negotiable As climate change continues to dominate headlines, the real estate market is responding by embracing sustainability. In 2024, eco-friendly features will become non-negotiable for both commercial and residential properties. Green roofs, energy-efficient appliances, and smart home technologies that minimize environmental impact will not only attract environmentally conscious buyers but also add significant value to properties. 3. The Rise of Co-Living Spaces Urbanization is prompting a shift in living preferences, leading to the rise of co-living spaces. In 2024, expect to witness an increase in developments tailored for communal living. These spaces not only provide affordable housing options but also foster a sense of community, catering to the growing demographic of professionals who prioritize experiences over traditional homeownership. 4. Suburban Renaissance Continues While city living holds its allure, the ongoing remote work revolution has given rise to the suburban renaissance. With remote work becoming a permanent fixture in many industries, homebuyers are looking beyond city limits for spacious properties, well-connected suburbs, and a slower pace of life. This trend is likely to persist in 2024, with suburbs offering a perfect blend of tranquility and accessibility. 5. Affordability Remains a Key Concern Affordability has been a recurring theme in real estate discussions, and 2024 is no exception. With rising construction costs and increasing demand for housing, the challenge of providing affordable homes persists. Creative solutions, such as modular construction and innovative financing options, may emerge to address this concern, ensuring that homeownership remains within reach for a broader spectrum of the population. 6. Shift Towards Flexible Spaces The concept of a dedicated office space is undergoing a metamorphosis, and 2024 is likely to accelerate this transformation. As remote work becomes the norm, homebuyers are prioritizing properties with flexible spaces that can serve as home offices, gyms, or recreational areas. Versatile layouts that adapt to the changing needs of occupants will be a sought-after feature in the coming year. 7. Emphasis on Health and Wellness Amenities The COVID-19 pandemic has heightened awareness about health and wellness, influencing real estate trends in 2024. Properties that prioritize amenities such as fitness centers, outdoor spaces, and wellness-focused designs are expected to gain traction. Homebuyers are seeking spaces that contribute to a healthy lifestyle, reflecting a broader societal shift towards prioritizing well-being. 8. Continued Embrace of Remote Buying and Selling The convenience of buying or selling property without physical presence gained momentum during the pandemic, and it's here to stay. In 2024, expect an even greater emphasis on remote processes, from virtual property tours to digital document signing. Real estate professionals are likely to leverage technology to facilitate seamless transactions, catering to a market that values efficiency and convenience. 9. Market Resilience in the Face of Economic Uncertainty While it's impossible to predict economic downturns with absolute certainty, the real estate market has demonstrated resilience in the face of adversity. In 2024, the industry is likely to weather economic uncertainties, with strategic investments and adaptability playing key roles. Markets that prioritize diversification and respond nimbly to changing conditions are poised to thrive. In conclusion, the real estate market in 2024 is a canvas awaiting the strokes of change. From tech-driven advancements to a renewed focus on sustainability and flexible living spaces, the upcoming year promises innovation and adaptation. Whether you're a first-time homebuyer, a seasoned investor, or a real estate professional, staying attuned to these potential trends will help you navigate the exciting landscape that lies ahead. Here's to riding the waves of change in the dynamic world of real estate! To view the original article, visit the Transactly blog.
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5 Real Estate Resolutions for More Profit in 2024
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Our Top 10 Most-Read Articles of December: Renovation benefits, Top housing markets, AI fairness
Happy New Year! Before we dive fully into a new year, let's take a look at the month and year that just passed. As our regular readers likely know, each month we publish a list of our most read articles. But every December, we go one step further and count down our 10 most popular articles of the year. You can see the full list of our best articles of 2023 here. Below is our final monthly list of articles from 2023. Check out what your fellow agents and brokers were reading during the final days of the year just passed. 1. Buyers Don't Know How Much Time Their Agent Spent on Their Transaction: SurveyA recent research project by WAV Group analyzed responses from more than 300 buyers, asking them whether their agent fully earned their commission and what they felt were the most valuable parts of the process. Here's a sampling of what was uncovered. 2. How Critical Will It Be to Renovate Before Selling In 2024?When a homeowner gets ready to sell, one of the biggest considerations is understanding what price they might reasonably attract for what's likely their largest investment. Depending on how well the home has been maintained or whether it's been upgraded, they might learn that they could capture significantly more profit with a few renovations. Here's a closer look at NAR's most recent Profile of Home Buyers and Sellers, which showcases how important a move-in-ready home can be in certain markets. 3. Mastering Instagram: Best practices for real estate agentsLet's explore Instagram best practices, providing you with valuable insights and strategies to elevate your online presence and expand your network. Whether you're new to the platform or looking to enhance your existing Instagram strategy, this guide will help you leverage the full potential of this dynamic social media channel. 4. The Top Housing Markets of 2024, Per Realtor.comHome affordability has become a big problem in 2023, as buyers have grappled with high mortgage rates, high sales prices, and low inventory. There could be some relief around the corner, according to new data from Realtor.com; the company released its forecasted list of the top housing markets in the country that are "poised to see the strongest combined increase in home sales and listing prices in the coming year." In other words, they're good places to be working in real estate! 5. The Role of Agents in Pre-Sale Renovations: Navigating the Challenges and OpportunitiesThe emergence of pre-sale renovation firms in the last few years has given homeowners ready to sell a better way to sell a home. While a pre-sale renovation may not suit every client, more often than not, it ensures homeowners receive top dollar for their property. This also allows agents to take home higher commissions. Let's explore the role of agents in pre-sale renovation and the key benefits this innovative service provides to sellers and their agents. 6. Your Most Critical Task for 2024: Setting Up a Referral Program for Past Listing ClientsThe real estate market in 2023 was a challenging one for agents, with fewer transactions taking place, higher mortgage interest rates, and low inventory. Moving into 2024, many agents have the nebulous goal of landing more listings. And there's one tactic that works better than any other when it comes to increasing seller leads: A referral program. 7. The Future for Real Estate Professionals: 8 Ways to Stay AheadWhile we can't take a sneak peek into a crystal ball to see the future of the average real estate professional, it's no surprise there's a lot changing in — and around — the industry. Instead of playing guessing games, we're breaking down the top best practices you can expect to leverage as we move into the future. 8. 4 Ways to Maximize Your Downtime Over the HolidaysAs the end of the year approaches, real estate professionals typically experience a downturn in activity. Instead of looking at this time as a slump, consider using it as an opportunity to lay the groundwork for a successful new year. Here are four ways to maximize your downtime to ensure you're ready to go in 2024! 9. Real AI: AI fairness is a huge hurdle, AI can't count, fast facts, top headlines and Quote of the WeekOf all the obstacles AI faces to continue its rocket-speed integration into our lives, the largest one it will need to overcome is fairness. In 2023, "responsible AI" became a buzzword we advised clients early on to embrace. In 2024, we will be adding another word – responsible and fair AI. 10. Pricing It Right: How Agents Can Show Value to Home Sellers Through CMAsThe numbers don't lie: Sellers who attempted to unload their house without an agent in 2023 left behind about $95,000 in potential profit. What exactly are agents doing for sellers that help them net that extra cash at closing? Respondents to NAR's 2023 Profile of Home Buyers and Sellers said that their agent was instrumental in helping them with one critical piece of the puzzle: Choosing the right list price.
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Evil AI
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Real AI: AI fairness is a huge hurdle, AI can't count, fast facts, top headlines and Quote of the Week
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. AI fairness is a huge hurdle Of all the obstacles AI faces to continue its rocket-speed integration into our lives, the largest one it will need to overcome is fairness. In 2023, "responsible AI" became a buzzword we advised clients early on to embrace. In 2024, we will be adding another word – responsible and fair AI. As the Harvard Business Review noted in September, "…it has become increasingly apparent that the promises of AI aren't distributed equally — it risks exacerbating social and economic disparities, particularly across demographic characteristics such as race." Last week, Axios, perhaps America's leading AI news source, published "1 big thing: AI inequality trap for Black Americans." This headline is indicative of more to come on this subject as research from McKinsey shows. Trust us, this is only the beginning. In its report, "The economic potential of generative AI: The next productivity frontier," McKinsey warned that generative AI "has the potential to widen the racial economic gap in the United States by $43 billion each year," and in particular, widen the economic divide between White and Black households. That chasm is already massive: a report from the Federal Reserve notes the median wealth – total assets – for a Black household is $44,900 and $285,000 for a White household. The AI-generated problem: job losses. The McKinsey Report projects that AI is poised to eliminate, through automation, as much as half of all jobs that don't require a college degree and pay less than $42,000 a year (what they use as wealth threshold). The result is a major disparate impact on Blacks. Workers who are most at risk – those working in office support, production, and food services – are Black because they comprise a significant majority in these jobs. AI is already struggling with algorithmic bias because what it knows is what we have taught it and we have systemic biases that AI has also learned. The Harvard Business Review story notes: Algorithmic bias occurs when algorithms make decisions that systematically disadvantage certain groups of people. It can have disastrous consequences when applied to key areas such as healthcare, criminal justice, and credit scoring. Scientists investigating a widely used healthcare algorithm found that it severely underestimated the needs of Black patients, leading to significantly less care. This is not just unfair, but profoundly harmful. The McKinsey report may be more impactful as it illustrates a potentially devastating concrete example: taking away jobs from Blacks. This subject is vital for every industry – real estate in particular – to pay attention to as this topic could emerge as the greatest risk for AI. Fairness is a hurdle that could impede AI adoption and its advancement – and for the right reasons. McKinsey does address this head-on, but this part is less likely to garner the headlines, as it notes: "But deployed thoughtfully, it (AI) could actually remove barriers to Black economic mobility." Somehow, I don't think that part of the study will get as much attention, but that is the right path forward. AI just might need AI to solve this quandary. AI can't count AI lies. You can call it "hallucinations" or anything else, but the bottom line is generative AI can give you the most convincing answers, only to be utterly false. Last week, we wrote about one valuable way an agent can use AI to crunch and analyze their most engaged newsletter subscribers. Things were going great until ChatGPT-4 spewed out a dataset that was more than 10x higher than it should be. Thankfully, it was easy to catch. We told ChatGPT that the numbers were wrong: without apology, it fixed it, outputting the correct dataset. When we asked it to provide in our prompts, links and sources to the research it was citing, the links were either dead or did not point to the correct place. Googling and Binging independently for the study revealed the data was completely fabricated. Try this: attach a specific number count requirement to any prompt requesting content in Claude.ai or ChatGPT-4. Ask for, say, a minimum of 500 words. You will likely get an output that begins with something like "Here is a 477-word draft…" Okay, not quite 500 words, but when you do an actual word count, you find the correct count is just north of 350 words! So, we tested this and found, again and again, the word count was never correct – ever. With an 800-word minimum requirement, even though AI will tell you it provided a "731-word version," the word count is actually just over 580 words. Recently, ChatGPT-4 has been improving, but still, you need to pay close attention to every piece of content you ask for AI to assist in creating, especially facts and figures. As I told a client earlier this week, when you use AI, know that it makes mistakes, so you must Reaganize it: trust but verify. AI Five Fast Facts According to McKinsey, about 69% of data processing tasks can be automated by AI, helping businesses increase their efficiency and productivity. Research shows that 8.4 billion AI-powered digital voice assistant units will be active in the world by 2024, eclipsing the total global population. A report by Outgrow highlights the top five industries that benefit from AI chatbots, which are real estate (28%), travel (16%), education (14%), healthcare (10%), and finance (5%). In a survey for senior executives, 69% of them consider AI "crucial" in responding to cybersecurity. When interviewed, around 62% of consumers stated they are willing to submit data to AI to improve their experience. Source: Various collected by Techdogs. AI Headlines Take 5 How Artificial Intelligence Can Help Streamline Property Transactions in 2024 | Newswatch - 12/18/23A take on how AI potentially can be used throughout real estate transactions to improve accuracy and speed. Movers: AI selects Brendan Brown as future top agent at Official | The Real Deal - 12/18/23Official, a boutique brokerage in the LA area, is using an AI mentoring program to evaluate the potential for agents to be top producers. How AI can help hiring managers recruit top talent | Business Insider - 12/20/23AI is being used to evaluate the resumes and skills of candidates at a quicker pace, but bias remains a concern. How AI is Revolutionizing the Real Estate Market | Yahoo! - 12/20/23Covers how AI is being used in the short-term rental space of real estate. Sure, artificial intelligence can provide real-time data on demand, but can it really replace Realtors? | Redwood City Pulse - 12/18/23A pragmatic view on what a human agent can do that AI can't. Quote of the Week – Microsoft's Nadella To view the original article, visit the WAV Group blog.
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Molding the Homeownership Message for Millennials and Gen Z
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Transforming Your Listings: The Impact of Renovations on Market Appeal
One of the toughest parts of the real estate business is winning a listing. Yet there is nothing more coveted for an agent's sales efficiency and profitability that will drive long-term success than securing the sales side of a transaction. While the real estate market is always in flux as mortgage rates continue to sway, agents like you know that real estate sales still happen because life happens. Neighbors get a new job, have a new baby, become empty nesters, retire, inherit a windfall, get divorced, or pass away. Life changes can turn almost any homeowner into a seller. Because more people use a real estate agent today than even before the internet, when a life change happens, your neighbors are most likely going to want to hire an agent to sell their home. So, how do you fully leverage your local market connections and knowledge to be that agent and win the listing? As an active agent, you can stand out from your competition and offer greater value if you are willing to transform the listings you bring to market. Rush to list or renovate for more? Home flippers have known for years – perhaps decades – that many homes rushed to market have untapped value. It's how they make their money. Find properties that need some – or a lot – of tender loving care or TLC. Flippers know how, from experience, to invest in the right renovations to resell the home at a significant profit. The flipper business model requires deep local market expertise and experience. Recently, the process of investing in home improvements to maximize a home's value has largely been the preferred method of flippers. But through the emergence of pre-sale renovation firms, it is now available to the average homeowner, as it is becoming a transformative tool being added to savvy agent's listing presentations. The biggest motivation for homeowners considering selling is that it's the fastest, easiest way to maximize the sales price. In fact, Revive research of homes that have gone through the pre-sale renovation process in 2021-2022 found sellers net an average of 236 percent. The average profit gained: $140,000. Of course, individual results may vary, but giving homeowners access to the flipper model is a game-changer for agents, too. Remodeled homes sell faster and for more money. For a commissioned agent, the higher the sales price, the greater the commission. It's a win-win, and that is why agents are transforming their listing presentations to include exploring a pre-sale renovation path rather than rushing the listing to the market. NAR research found that 70% of millennial buyers – a huge part of today's homebuying market – would be willing to buy a smaller home if it is move-in ready. Making the right improvements If there's a secret sauce to the flipper's business model, it's knowing what improvements to make for each home. Making the wrong choices can negate the ability to maximize the home's value. Sure, you could recommend your sellers go it alone and take the DIY approach, but do they have the design skills or know what features and amenities buyers are seeking in your market? Can they contract with the right professionals, have time to oversee the entire process, finance it all upfront, and finish in six to eight weeks? Probably not. Real estate agents know the value that a pre-sale renovation firm brings to a seller. It's a turnkey process and far less risky because they have the team, resources, knowledge, and skills to maximize the appeal of the home in your local market. You want your listings to stand out from the competition when it comes time to sell. You also know that some home improvement projects go further than others in boosting resale value and appeal. The safest route for you and your seller to make your listings stand out is to involve skilled renovation experts who do this for a living. Market appeal nets higher prices Zillow research found that listings that promote amenities buyers want in a local market help boost the final sales price. Their study shows listings with chef-friendly amenities – such as pizza ovens and professional-grade appliances, can sell for as much as 5.3% or an average of $17,400 more than similar homes without these features. Trendy home features that include "she sheds" and terrazzo floors — the female equivalent of the man cave — can boost a sale by an average of 2.5%. But maximizing a property's market appeal isn't just about aesthetics; it's about making strategic improvements that will attract a broader pool of potential buyers. More foot traffic to your listings equates to a higher likelihood of a lucrative sale. As an agent, this should be at the forefront of your selling strategy. Attract more listings When agents transform their listings when the best path for the seller is a pre-sale renovation, they become the local market innovator. Having a competitive advantage, such as having clients who have gone through a pre-sale renovation and significantly increased their final sale price, can be a market magnet for your business. Happy sellers refer others to you as a forward-thinking agent who guided them to this hassle-free, value-unlocking solution. You'll especially resonate with modern sellers who want to work with an agent who is current on the new ways to sell a home. Introducing the pre-sale renovation option during your listing presentations will help you win more listings as you become the local expert who has proven how well this model works. Delivering more value In a market where buyer preferences and trends are constantly evolving, your value as an agent is higher than ever. Your local expertise not only guides sellers in making their homes appealing but also ensures they have the right market appeal. By leveraging your knowledge and resources, you empower sellers to make the best decisions for their properties, leading to successful sales and satisfied clients. Your ability to navigate the newest strategies effectively is what distinguishes you as adding more value and being the choice of more sellers. Jessica Morrow, a seasoned real estate veteran, is Revive Real Estate's Chief of Staff. Revive's mission is to guide home sellers through presale renovations without upfront costs. Working with Revive, home sellers gain an average of $140,000 in additional profit when selling their homes. Thank you to Revive for sponsoring this article on RE Technology! Related reading The ROI of Renovations: Explaining the Financial Potential of Renovating Before Selling The Role of Agents in Pre-Sale Renovations: Navigating the Challenges and Opportunities Meeting Home Buyer Expectations: Understanding the Millennial HGTV Generation and Their Preferences
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Appraised Value vs. Market Value
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Selling a Home? Here's 10 Ways to Craft a Captivating Listing Description
Selling a home can be an exciting yet challenging endeavor. In today's competitive real estate market, a compelling listing description is your secret weapon. A well-crafted description can turn a casual browser into a potential buyer. Here, we'll dive into the art of creating a captivating listing that makes your listing stand out like a diamond in a sea of gems. 1. Start with a Headline that Pops Your headline is the first thing potential buyers will see. Make it catchy and memorable. Instead of a generic "Beautiful Home for Sale," try something like "Charming Oasis in the Heart of [Your Neighborhood]." Create intrigue from the get-go. 2. Tell a Story with Your Description Don't just list features; tell a story. Paint a vivid picture of life in your home. Describe the warm sunlight streaming through the windows in the morning or the cozy fireplace perfect for chilly evenings. Let buyers envision their future in your space. 3. Highlight Unique Features What sets your home apart? Whether it's a custom-built kitchen island or a secret garden in the backyard, emphasize unique features that make your property unforgettable. Buyers love homes with character. 4. Use Powerful Adjectives Words matter. Instead of just saying "spacious," try "expansive." Swap out "nice" for "immaculate" or "stunning." But be honest – exaggeration can backfire. 5. Create a Sense of Urgency Incorporate language that conveys a sense of urgency. Phrases like "rare opportunity," "don't miss out," or "limited availability" can motivate potential buyers to act quickly. 6. Mention Nearby Amenities Your home doesn't exist in a vacuum. Highlight nearby amenities like parks, schools, shopping centers, and public transportation. Location matters, so make sure potential buyers know the perks of your neighborhood. 7. Speak to Your Target Audience Consider who your likely buyer is and tailor your description to appeal to them. If your home is perfect for a growing family, mention the great schools and family-friendly features. If it's an ideal bachelor pad, highlight the trendy local hotspots. 8. Be Mindful of SEO In the digital age, your listing will likely be discovered online. Incorporate relevant keywords that potential buyers might search for. Think about what you would type into a search engine if you were looking for a home like yours. 9. Create a Visual Experience with Descriptive Language Help potential buyers visualize your home by using descriptive language. Instead of saying "spacious living room," say "inviting, sunlit living room with panoramic views." Paint a mental picture that stays with them. 10. End with a Call-to-Action Finish strong. Invite prospective buyers to schedule a viewing, attend an open house, or contact you for more information. A clear call-to-action encourages engagement and can be the nudge a buyer needs to take the next step. Crafting a captivating listing description is an art, not a science. It's about creating an emotional connection between the buyer and your home. The goal is to make potential buyers envision themselves living in your space, creating memories, and building a future. Remember, brevity is key. While it's essential to be detailed, nobody wants to read a novel when scanning through home listings. Capture attention with a few well-chosen words. Let each sentence pack a punch, leaving the reader eager to learn more. Now, let's break down these tips and see how they might come together in a real-life listing description: Charming Oasis in the Heart of Maplewood: Your Dream Home Awaits! Nestled in the vibrant community of Maplewood, this immaculate three-bedroom, two-bathroom gem is more than just a house; it's a lifestyle. Wake up to the gentle glow of sunlight streaming through the large bay windows, casting a warm embrace over the expansive living room. Our home is more than just a property; it's a story waiting to unfold. Picture yourself cozying up by the stunning fireplace on chilly evenings, the soft crackle of burning wood creating the perfect ambiance for relaxation. And when the weather beckons you outside, a secret garden oasis awaits, promising tranquility and a touch of nature. Step into the heart of the home – a kitchen that blends modern convenience with timeless charm. The custom-built island is not just a place for chopping vegetables; it's a gathering spot for friends and family to create memories that will last a lifetime. This residence isn't just a house; it's a canvas waiting for your personal touch. The open floor plan provides endless possibilities for creating the perfect space to suit your lifestyle. With ample room for both entertaining and quiet retreats, this home seamlessly combines comfort and style. But what truly sets this property apart is its unbeatable location. Within walking distance of Maplewood Park, renowned for its scenic trails and family-friendly amenities, and just a stone's throw from Maplewood Elementary School, this home is a haven for those seeking both serenity and convenience. Immaculate. Expansive. Inviting. These are just a few words that barely scratch the surface of what this home has to offer. Don't miss out on this rare opportunity to make this charming oasis in Maplewood your own. Schedule a viewing today, and let the story of your future unfold in this captivating haven. Your dream home is waiting – seize the opportunity now! Now that you have these 10 tips and an example to work with, what are you waiting for? Craft that captivating listing description today! To view the original article, visit the Transactly blog. Related reading 4 Real Estate Listing Description Examples that Increase Sales Is Your Listing Description Turning Consumers Off? ChatGPT Hacks for Real Estate Agents
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[Best of 2023] The Jury Has Ruled on Commissions: What Are the Next Steps?
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Double Down on These 5 Marketing Basics to Start Your 2024 Out Strong
2024 is here, and as we set our sights on a new year, we also set them on new possibilities. It's important to take time to reflect on what went well in 2023, what could have gone better, and what you'd like to try out next. As you review your business, you'll also want to make sure your marketing efforts are top-notch. Doing so will help ensure your brand awareness, lead generation, and positioning are all on point in the new year and beyond. Here are five marketing basics for you to focus on and double down on so you're set up for success in 2024. 1. Embrace Time-Tested Tactics When it comes to embarking on refreshed marketing approaches for the new year, don't be afraid to go back to basics. After all, they work for a reason. Time-tested tactics for agents still resonate well with consumers, and can set you apart in a sea of agents relying only on social media or online marketing efforts. How can you take advantage of the classics? Let's take a look: Door-KnockingDon't dread this, but rather, embrace it! Going door to door in the neighborhood to wish the neighbors a happy new year can go a long way in getting your name and face out there. Think of it like introducing yourself to the neighborhood and go forth. You never know who you'll meet, or how you can help them (or their friend, family member, colleague, and so on). Send Out PostcardsThey don't have to be drab or corporate, either. Get into a free tool like Canva and take advantage of clean, modern, and professional-level designs for your postcard mailers. Print a stack, jot down a handwritten note wishing the neighborhood well for 2024, and watch as your brand recognition grows roots. Create a Call ListWhether it's cold-calling, reviving stale prospects, or reaching out to past clients, create a call list… and then actually call! The new year is the perfect intro to start a conversation and check in on people. And with it being such a goal-oriented time of year, you have a great opportunity to segue into any changes to living spaces your call list may expect in 2024. Host an Open House (with a Twist)Open houses may seem rinse-and-repeat, so how about taking a different approach? Consider setting a "theme" to your open house as a way to welcome in the new year. We're not saying you have to plan it to happen at midnight, but even hosting an open house any time in January can have a nice New Year's ring to it. Decorate the sign-in table with confetti, wish passers through a happy new year, and hand out those fancy plastic flutes filled with sparkling apple cider. You'll set yourself apart and kick off 2024 by leaving a lasting impression. 2. Embrace the Digital Age While the classic approaches to marketing should be a mainstay in your marketing efforts, it's equally as important to leverage digital marketing. Really, the two should work hand-in-hand. Post regularly on social media and run refreshed ad campaigns. Position yourself as a resource to help your client and prospect base set and tackle their 2024 goals. You can take advantage of one of the most popular forms of media, video, to film YouTube clips and Instagram Reels. Double down on posting consistently, and always engage with your audience. 3. Adapt and Innovate Based on the Market The times, and the market, are a-changin'. It's crucial you stay on top of shifts in your local market. Not only will this equip you for productive conversations with your clientele, it'll also help shape your approach to marketing. Market shifts and changes mean you need to adapt and innovate your approach to marketing. You don't want to have marketing activities or content that may come across as insensitive or obtuse, and you also want to make sure you're maximizing your marketing efforts when a shift happens in your client base's favor. Stay aware and bake in flexibility into your marketing efforts, online and offline. 4. Establish Your Personal Brand Does your personal brand need a refresh? Or do you need more people to know about it at all? Make your personal brand a priority as you set foot in the new year. Get clear on how you want to position yourself in your local market, and how you want to set yourself apart from your competition. Then, double down your marketing efforts to establish and reinforce your personal brand. Create and post content that shows you're an expert on market happenings. Share events in the community and highlight local businesses. Engage across online groups, posts, and accounts that are real estate-focused, as well as real estate adjacent. The more you get eyes on and engagement with your brand, the stronger it can become all through 2024. 5. Become a Reliable Resource Consumers in your market need to feel a sense of trust with you before they even meet you. So, how can you do this? By positioning yourself as a trusted, reliable expert for all things in your area of real estate. Doing things like: Staying on top of the market shifts and sharing your point of view on them Crafting and posting educational content regularly Volunteering, sponsoring, and serving as a voice in the community Providing stellar client experiences they'll rave about These all add up to positioning you as a reliable resource in real estate, building trust in your brand, and peace of mind you can be counted on for your expertise. To view the original article, visit the Inside Real Estate blog. Related reading How Real Estate Agents Can Use Instagram to Promote Their Services How RPR Can Enhance Your Real Estate Marketing Strategy 8 Campaign Ideas for Finding More Listings
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[Best of 2023] Using ChatGPT Is Probably an MLS Violation
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[Best of 2023] Beware, DocuSign: Google Docs now offers eSignatures
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in August and is #3 in our countdown. See #4 here. Do you remember MapQuest? It launched in 1996 and was, at one point, the go-to place to find internet-based directions to anywhere you might want to drive. (You had to print them out or write them down, but still!) What happened to the startup? Nine years after MapQuest's debut, Google made Google Maps available to the general public. MapQuest is still around, but ironically, it's probably more widely used as an app downloaded on the Google Play or Apple app stores than it is anywhere else. DocuSign (and other web-based document management systems that allow users to securely and legally sign forms) might want to start watching their backs right about now. On Wednesday, August 9, Google introduced beta launches for a new native electronic signature tool that certain users can find embedded directly in Google Docs and Google Drive. The tool, eSignature, is in open beta for Workspace Individual subscribers and beta for Google Workspace customers. This means that these users can create contracts in Google Docs and get any required signatures right there in Docs, without having to move the contract to DocuSign or another platform. Image source: Google "But it's not a PDF," we hear you objecting. Well, Google also announced that it will be rolling out additional features later this year for eSignature users, including: eSignatures on PDFs that are stored in Google Drive eSignatures submitted from non-Gmail email addresses The ability to request signatures from more than one person on the same contract An audit trail report If you have a Google Workspace Individual account, you can already use this feature. Visit the eSignature help section for step-by-step instructions around how to get started. If you have a Google Workspace Business account — including Business Sandard, Business Plus, Enterprise Starter, Enterprise Sandard, Enterprise Essentials, Enterprise Essentials Plus, Education Plus, and Nonprofits — then you can apply to participate in the beta test.
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Mastering Instagram: Best practices for real estate agents
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[Best of 2023] 10 Common Questions Home Buyers Ask Google (and 30 Key Phrases to Target with Google Ads)
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in March and is #4 in our countdown. See #5 here. Home buying is a complicated process, and potential buyers are likely to have a variety of questions. Where's the first place they more often turn to for answers? You guessed it—Google. Real estate agents looking to drive querying buyers to their own website can target those questions with Google Ads. To help you get started, we've compiled a list of 10 common questions that home buyers ask. Each question is paired with three related key phrases you can use to target askers of that query with an advertising campaign. Tip: Use Google's Keyword Planner to help refine your list of key words and phrases. It can help you understand how many people are searching for a term each month, see related keywords and phrases, and give you an idea of which keywords are more popular and worth targeting. We recommend focusing on a few highly relevant, low-competition keywords and phrases to start. Let's dive in… 1. "How much can I afford to spend on a home?" Home affordability calculator Mortgage affordability calculator Home buying budget 2. "What is the average home price in [city or neighborhood]?" Real estate listings [city or neighborhood] Average home price [city or neighborhood] Housing market [city or neighborhood] 3. "What is the best time to buy a home?" Home buying season Best time to buy a house Housing market trends [region, city or neighborhood] 4. "What are the current interest rates for home loans?" Mortgage rates today Current home loan interest rates Best mortgage rates 5. "What are the steps to buying a home?" Home buying process Home buying checklist First-time home buyer guide 6. "What are the best neighborhoods for families in [city or region]?" Family-friendly neighborhoods [city] Safe neighborhoods for families [city] Best suburbs for families [city or region] 7. "What should I look for when buying a home?" Home buying tips Home inspection checklist Home features to look for 8. "What is the average home inspection cost in [city or region]?" Home inspection fees [city or region] Home inspection prices [city or region] Cost of home inspection [city or region] 9. "What is the difference between a fixed-rate and adjustable-rate mortgage?" Fixed vs adjustable rate mortgage Pros and cons of fixed-rate mortgage ARM vs fixed-rate mortgage 10. "How much should I offer for a home?" Home offer strategy Home offer negotiation Home offer price range [city or neighborhood]
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4 Ways to Improve Your Cybersecurity
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[Best of 2023] 13 Scary Listing Photos that Will Horrify Buyers
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in October and is #5 in our countdown. See #6 here. A few years ago, we shared a Halloween post about terrifying listing photos, which our readers went absolutely nuts for. We think it's high past time to resurrect this idea again! In the spirit of ghoulies and ghosties, and all things that go bump! in the night, here are 13 more scary listing photos that will frighten prospects away faster than you can say boo! 1. Tinseltown Swimming in Blood Source: Reddit This photo's headline is a song by the band Destroyer, which is exactly what a blood-red pool is to a listing's buyer appeal. To be fair, this home was Kat Von D's, so instead of turning off buyers, it generated a lot of attention. But for average listings, ghoulish property features are a turn-off… as we'll see in the photos below. Tip: To appeal to a broader base of buyers, consider editing tools to make the pool a more normal color. Your photographer, a virtual stager, or other photography services companies can do this for you. Because the pool color is likely caused by dye and not a permanent property feature, this kind of photo edit doesn't violate real estate ethics. Learn more about that here: The Ethical Use of Photoshop in Real Estate Marketing. 2. Summoning the Ghost of Low Property Valuations Source: TerribleRealEstateAgentPhotos.com This listing comes with a unique telecommunications feature: a built-in pentagram that lets you talk to anyone, including the dead! After all, séances are just the 19th-century version of Ethernet. 3. Speak of the Devil and He Appears… in the Spare Bedroom Source: TerribleRealEstateAgentPhotos.com The owner of this house must have used the pentagram in the last photo to conjure up something sinister, because…yikes. Our sympathy to the listing agent, because that conversation about staging obviously did not take. Need to have your own conversation about getting ready for listing photos? See: How to Prep Your Listing for a Photo Shoot. 4. "I Am Doll Parts…" Source: TerribleRealEstateAgentPhotos.com If this listing has a theme song, surely it's "Doll Parts" by Hole. Yes, doll parts, an extremely normal and not creepy at all thing to fill your basement with. Seems this agent lost a neat opportunity to talk about the benefits of stowing your off-putting junk. At the very least, it's a bummer that the agent didn't step back and use a wide-angle lens to capture what looks like ample basement storage space. 5. Grudge Match: Heaven vs. Hell Source: TerribleRealEstateAgentPhotos.com No, it's not you — that is Jesus and Satan in an arm wrestling match! Judging by the color scheme, it looks like they're fighting for the last fry in the Happy Meal, but we're just speculating here. Many sins could have been covered up here with a fresh coat of paint, but, hey, sometimes sellers are stubborn. If you're showing a home like this, we recommend using a virtual staging app to show buyers what the home could look like with their own furnishings and a less biblical paint job. 6. Quick! To the Bat Cave Hovel! Source: TerribleRealEstateAgentPhotos.com We don't know if this den of despair belongs to Bruce Wayne or Dracula, but it looks like one of them is having financial problems. (Poor real estate investments, perhaps?) Judging by the green slime in the top-right corner, there's probably not much a few photo composition tips can offer. But we'd recommend taking a second, bat-free photo, at least. 7. Nightmare on 13th Street Source: TerribleRealEstateAgentPhotos.com What does Freddy Krueger and Jason Voorhees decor get you? A no-bid nightmare. If you're facing a listing like this, let us direct you to this article, How to Shoot Bedrooms, which offers handy advice like, "Remove unnecessary items." (Cue nervous laughter.) 8. A Home to Die For Source: TerribleRealEstateAgentPhotos.com Oooh, another killer listing. So this doesn't completely turn into a place where your commission goes to die, try opening the blinds and fixing the vertical lines in this photo. Anything beyond that probably requires a hazmat suit. 9. Tiny Kitchen, but Wait 'Til You See the Sacrificial Chamber Source: Reddit This sacrificial slab boasts a trendy slate top! Perfect for buyers looking for an easy way to open the Hellmouth. We asked ChatGPT to write us a listing description based on this property feature. This is — no joke — what it offered: Title: Enchanting Property with a Sacred Retreat: A Truly Unique Opportunity Description: Discover a one-of-a-kind property that marries modern comfort with ancient mystique. This enchanting estate, nestled in the heart of a serene forest, boasts an unexpected and captivating feature — a meticulously crafted sacrificial altar. While it may not serve its original purpose, this stunning altar stands as a testament to the property's rich history and offers boundless potential for the creative mind. In the meantime, here are 23 slightly less unhinged ways to use ChatGPT. 10. Haunted Appliances Included! Source: TerribleRealEstateAgentPhotos.com When General Electric said, "We bring good things to life," surely they didn't mean this. Look, there's no reason to include an up-close shot of a microwave, even if it is built-in and included in the sale. However, there is a way to include wide, medium and up-close shots in your listing photos. Learn more here: The 3-Shot Approach to Better Listing Photos. 11. World's Crappiest Game of 'Bloody Mary' Awaits Source: TerribleRealEstateAgentPhotos.com We don't know what's more terrifying: the side-by-side toilets or the floor-to-ceiling mirrors. Regardless, we think this a great opportunity to talk to your sellers about the benefits of pre-sale renovation. 12. Nightmare Before Christmas Source: TerribleRealEstateAgentPhotos.com Looks like Santa Claus had an accident coming down the chimney. Does this mean you need to tell prospects that this is a stigmatized property? Learn more about that here: Murder, Death, Suicide, Haunted Houses and Ghosts: Are Agents Required to Disclose? 13. Act Now: This Listing Is Fire! Source: TerribleRealEstateAgentPhotos.com Look, we all appreciate a good action shot, but we don't think there's really a place for them in your listing photos — especially when, y'know, that action is of your listing burning down. But somehow, miraculously, this property apparently sold faster than Tobias Fünke can say, "It's a fire sale!" — because if you zoom in, you can see that this photo says "Under contract"! (We're guessing the land is worth a lot.) However, we do lament this agent's missed opportunity to turn their listing into a meme: You don't have to miss that opportunity yourself, though. Instead, you can try these 6 Valuable Tips for Creating Memes that Could Go Viral. Related Reading Spooky Encounters of the Real Estate Kind: 6 True Tales of Terror 13 Last-Minute Halloween Events that Will Grow Your Business
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Triple Your Profits by Recruiting a Real Estate Team
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[Best of 2023] How Agents Are (Unintentionally) Violating Fair Housing
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in September and is #6 in our countdown. See #7 here. The homebuying frenzy of the pandemic seems to have died down, but many buyers (more than half, according to a recent survey) are still encountering multiple-bid scenarios when they enter the market. These situations are challenging for both buyers and agents. Buyers don't like them; they feel like it's too hard to compete with investors or cash buyers. And agents struggle to help their buyers stand out from the bidding crowd. A recent WAV Group survey asked buyers who had attempted to purchase the home during the past year whether they'd encountered a multiple-bid situation and what advice their agent gave them to help them win the bid. Fair Housing and buying a home A quick recap: The Fair Housing Act is designed to protect people from discrimination based on the following categories or statuses when they are renting or buying a home. Race Color National origin Religion Sex (including gender identity and sexual orientation) Familial status Disability In order to prevent discrimination based on the buyer's identity, it's important for both the buyer's agent and the listing agent to take care to protect the buyer's identity. So what does Fair Housing have to do with multiple-bid scenarios? WAV Group asked buyers who were involved in multiple-bid situations about the advice their agents gave them to help them craft a winning bid. While no doubt well-intentioned, some agents were advising their buyers to disclose their identity to the seller in an attempt to make a personal connection and possibly win the bid. This is (unfortunately) a pathway to Fair Housing violations. 'Love letters' and in-person meetings WAV Group's survey found two problematic pieces of advice that agents are giving in multiple-bid scenarios: "write a letter to the seller to go with my offer" and "meet the seller in person to present the offer." The idea of writing the seller a "love letter" is not new, but it can be problematic from a Fair Housing perspective because those letters reveal personal information about the buyer — often intentionally — such as marital and familial status. Obviously, in-person meetings come with similar caveats or problems. If a seller is meeting a buyer face-to-face, certain details about that buyer (such as their race, national origin, or gender identity) will become apparent to the seller. The survey showed that agents are suggesting face-to-face meetings more frequently than any other option: 49.2% of buyers said their agent recommended meeting the seller face-to-face to present their offer. Somewhat surprisingly, more buyers of color (52.7%) than white buyers (38.7%) said their agent suggested this course of action. About one in five buyers (19.9%) said their agent suggested writing a "love letter" to the seller. This proportion was significantly higher for white buyers (25.3%) than for buyers of color (18.0%). Advice around offer amount and contingencies Of course, agents are only trying to help their buyers submit a winning bid on a home they can afford, which can be increasingly difficult in an era of consistently low inventory and high mortgage interest rates. What other pieces of advice are agents giving their buyers? More than one-third of agents recommended that the buyer offer the full asking price to sellers, and more than one-third of agents recommended offering above asking price if possible (34.3% for both). Agents also suggested that buyers offer to close quickly (31.7%), offer cash (28.6%) and to waive certain contingencies if possible (15.2% for home inspection and 14.1% for appraisal). What can agents do to help buyers win bids? While multiple-bid situations are difficult for both buyers and agents to manage, there are some ways that agents can help smooth the road for their buyers. First, know your market! Multiple bids are not common in all markets, or during every year. As an agent, it's important to understand what's happening in your market in terms of buyer bidding, what the competition looks like, and then convey that information to your buyers. If you explain from the get-go that the market is still hot and they should expect submitting several bids before they find their home, that can help set their expectations accordingly. Next, try to assess what the seller needs most. Money is obviously important, but promising a fast move-out or accepting the home in an as-is condition whenever possible can help give your buyers an edge. Talk to your broker about providing buyer-friendly solutions, such as cash-offer programs or bridge loans. If your brokerage already has these options, make sure you understand how they work and are explaining them to your buyer clients before they submit a bid. Dig deeper for listings. If the inventory is tight in your market, it might be a good time to start looking for landlords who are tired of renting their investment property and might want to sell, or homeowners who want to upsize or downgrade but feel stuck due to interest rates or other variables. If you can unlock some inventory for your buyers that won't involve a bidding war, maybe you can bypass that business entirely! Staying connected to your market and educated about what's happening is critical for any agent, but it's especially important for buyer's agents in multiple-bid scenarios. If you'd like to learn more about what the Fair Housing report uncovered, you can download it now on WAV Group.
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Buyers Don't Know How Much Time Their Agent Spent on Their Transaction: Survey
The value of a buyer's agent has never been called into question more than it has in 2023. The class-action lawsuit that alleged real estate organizations collaborated to inflate commissions was ruled on in October, and agents can expect more questions moving forward from buyers about their commission rate and what they do to earn it. They might end up explaining a great deal. A recent research project by WAV Group analyzed responses from more than 300 buyers, asking them whether their agent fully earned their commission and what they felt were the most valuable parts of the process. Here's a sampling of what was uncovered. 'How much time did your agent spend on your transaction?' Agents are not doing a very good job of communicating their efforts and the amount of time they spend to buyers, whose responses were all over the map when asked how many hours their agent spent on their deal. The largest proportion of respondents (21%) said they thought their agent spent between 11 to 15 hours working on their home purchase transaction. Another 21% of buyers collectively said they thought their agent spent at least 26 hours on their home purchase. However, a cumulative one-in-four buyers said that their agent spent 10 or fewer hours on their home sale transaction: 9% said 1 to 5 hours, and 16% said 6 to 10 hours. While it is possible that there is indeed a wide variation in the amount of hours these different buyer's agents worked, a more likely explanation is that many buyers simply were not clear on what their agent did or how much time it took. 'Was your agent fairly paid?' WAV Group asked buyers whether they felt their agent was fairly paid, overpaid, or underpaid. The overwhelming majority said they felt their agent was fairly paid (87%). That's good news! The fact that buyers do not have a clear idea of how much time their agents spend on their needs indicates that they do not completely understand the home purchase process. They don't have a firm grasp on all of the steps required, what their agent will do to assist them, and what work they will need to do. And this presents an opportunity for agents to explain more of the process to their clients. First-time buyers especially do not have a clear grasp of what documents they might need to get a mortgage, what a seller's disclosure is, how appraisals work, and much more. Creating clarity for them around all disclosures and documents is one way agents can show their value to buyers. One way agents can help combat this lack of understanding is to build a presentation that explains each step in the process, and also includes what they will be doing on the buyer's behalf to help complete that step. This can be helpful for setting expectations with buyers. Related reading The Jury Has Ruled on Commissions: What Are the Next Steps? 184 Things You Do for Real Estate Clients (and they don't even know it)
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[Best of 2023] Top 10 Mobile Apps for Real Estate Agents
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Your Most Critical Task for 2024: Setting Up a Referral Program for Past Listing Clients
The real estate market in 2023 was a challenging one for agents, with fewer transactions taking place, higher mortgage interest rates, and low inventory. Moving into 2024, many agents have the nebulous goal of landing more listings. And there's one tactic that works better than any other when it comes to increasing seller leads: A referral program. According to the most recent National Association of REALTORS® (NAR) Profile of Home Buyers and Sellers, direct referrals from previous clients and friends are one of the most popular ways that a home seller finds their agent. Out of all respondents surveyed in the profile, 65% of sellers found their agent through a friend, neighbor, or relative — or used an agent they'd previously worked with in the past. Not only that, but 46% of sellers used the same agent to purchase their new home as they did to sell their existing home, and that percentage jumped to a whopping 84% for sellers who moved within 10 miles. Plus, the typical seller has recommended their agent once since selling their house, and 20% of sellers have recommended their agent four times or more. If you don't have an active referral program for previous clients, and if you want more listings in 2024, then the very best thing you can do to meet that goal is to establish a referral program. 6 Steps to Setting Up a Real Estate Referral Program The good news is that if you already have a CRM and an email marketing platform, you've already got the basics in hand. Here's how you can set up a real estate referral program that will generate seller leads for you. 1. Determine the Goal of Your Program It's smart to be as specific as possible. How many leads are you hoping to generate from referrals? How many listings will that result in? Document exactly what you're hoping to achieve from the program, which will help you answer subsequent questions, such as its scope or how much to invest in it. 2. Identify Your Potential Top Referrers Using your CRM, start to create a segment or a list of previous clients who have already referred you to their acquaintances and friends at least once in the past. You may want to create a second list or segment of people who could be excellent references for you. 3. Start Reconnecting With Your Lists Sometimes all it takes to be the go-to agent for your top referrers is to remind them that you exist and that you do a fantastic job. Set up coffee chats, morning walks, golf times, or after-work drinks with the people who you think will be your best referrers. The goal of these meetings isn't to ask them to refer you; it's to see how their lives are going and share a little bit of information about your own professional life when it's appropriate. 4. Send Interesting, Quality Emails The hard part about referrals is that when people own a house, they're usually not thinking about buying or selling, so staying top-of-mind with past clients can be a challenge. If you don't already have a robust email campaign strategy that involves engaging homeowners at all stages of their life cycle, it's time to create one and establish yourself as the go-to expert on all things housing and home. 5. Track Who Refers Whom If you have a CRM set up, it's easy to keep tabs on who's referring whom to your services. Make sure you're up to speed around where your referrals are coming from and how they all go, because it's going to be critical for the next step in the process: 6. Say 'Thank You' There's a certain kind of social cachet and pride in being the person who knows good people. If one of your previous clients introduces you to a new one, make sure you thank that previous client for the introduction! They'll feel good knowing that they've helped two people accomplish a goal, the seller and yourself. And they'll remember that you thanked them the next time an opportunity emerges for them to recommend your services. Related reading How to Generate Real Estate Referrals Using Local Online Groups 65 Sources of Real Estate Referrals You May Have Overlooked How to Get the Referrals Hiding in Your Professional Network
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[Best of 2023] 14 New iOS 17 Features That Were Built for Real Estate Agents
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[Best of 2023] We Asked 6 AI Bots to Recommend a Realtor. Here's What Happened
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in November and is #9 in our countdown. See #10 here. ChatGPT hit the scene in a big way this year, and ever since, people have been asking it all sorts of things — everything from explaining complex topics to home maintenance tips to recommendations for books or movies. That got us thinking — what happens when someone asks ChatGPT (or similar AI models) to recommend a real estate agent to them? And is this a marketing channel that agents should start thinking about? To find out, we asked six AI chatbots the same question: I'd like to buy a house in San Luis Obispo county. Can you recommend Realtors to me? Here's what we found. ChatGPT We started with the most well-known chatbot, ChatGPT. And, well, we struck out. Here's the answer we received: I'm sorry, but I don't have real-time access to databases or the internet, so I can't provide specific recommendations for real estate agents or Realtors. However, I can offer some general advice on how to find a good Realtor in San Luis Obispo County or any other area… We got the same exact response — to the letter — from Poe by Quora, which uses OpenAI's dataset. OpenAI owns ChatGPT, so we're not completely surprised by the similar answers. Fortunately, those two chatbots are the only two on our list without real-time access to the internet. That means our journey is about to get a lot more interesting… Bard Google's Bard chatbot harnesses the power of Google search, but it has yet to attain the same popularity as ChatGPT. However, of all the AIs, it gave us the most complete response. Not only did it provide a photo for each of the five agents it recommended, but also a link — three from LinkedIn, one Realtor.com agent profile, and one agent website, underlining the importance of maintaining a strong online presence. Bing Bing, the Microsoft-owned search engine, now offers an AI-assisted search option. When we asked it to recommend an agent, it offered a succinct list of five options. Only one was a real estate agent, however. The four other suggestions were brokerages, which may indicate that brokerages in our area have more time and budget to invest in their web presence than local agents. Interestingly, Bing provided a link and an example of a current listing for each suggestion. None of the links, though, directed us to that listing or even to the brokerage's or agent's website. Instead, each link sent us to a generic Realtor.com property search for our area. In order to contact any of the listed real estate pros, we'd have to Google (lol, sorry, Bing) them ourselves. Also, every link featured an ad above it, which was far easier to click on than the actual link. So if you're looking for a new place to advertise, perhaps buying ads for similar queries on Bing is worthwhile, especially for brokerages or teams — or for agents who don't have yet a strong enough online presence to be selected for an AI recommendation. ClaudeAI ClaudeAI, which was founded by OpenAI alumni and has investors in Google and Amazon, offered the most straightforward answer. It gave us plain text with no links or images, and a bit of homespun (lab-spun?) advice for finding an agent. Thanks, Claude. Perplexity AI Perplexity AI offered up five suggestions, only three of which were actual real estate pros — one agent, one real estate team, and one brokerage. The other two answers were websites (FastExpert.com and US News) that simply list agents in our area. Not exactly a recommendation — more like a recommendation to a place that kinda-sorta offers recommendations. Thanks, but no thanks. Let's disregard those two suggestions and look at the actual working professionals that Perplexity recommends. Each response comes with a link, but none of those go to an agent or company website. Instead, two links went to a broad search for local agents on Yelp, and one went — somewhat oddly — to this page on Google Maps. To finish things off, Perplexity threw in some random listing photos from the aforementioned sites for good measure. So What Did We Learn? Like most things related to AI chatbots, it's a work in progress. While we don't yet know if or when consumers will rely on chatbots to find a Realtor, agents who wish to prepare for that scenario should invest effort in ensuring their business can be found across a wide array of places online. Here is a list of actions to take, based on where the chatbots we queried pulled information from: Realtor.com links were very popular with the chatbots we surveyed. Make sure you have a complete agent profile there, including contact info and client testimonials. While no Zillow, Trulia, or Homes.com links were offered this time, tend to your profiles there, too, as there's no telling when a tweak to chatbot technology will change things. Claim your Yelp page, if you haven't yet done so, as some chatbots reference this site. LinkedIn was a major recommendation source for Bard, and was the only social media site consulted by the bot. Make sure your profile there is complete, and optimize it for SEO to increase the likelihood of being found. Make it a habit to ask for reviews from clients. Perplexity AI specifically mentioned that each of the real estate pros it recommended were highly rated. It also referenced Yelp, while both Bing and Bard pulled information from Realtor.com. Try to get as many reviews as you can in as many places as you can: portals, Google, Yelp, your website, etc. Make it a long-term goal to establish your agent website as a local real estate source. The one agent website that was linked to in this experiment belongs to a local Realtor who has spent considerable time and effort into building his site as an authority. He offers market updates, a podcast, resources for each community he serves, customer reviews, and more. Regularly update your site with quality content, and link to it anywhere you can: social media, portal profiles, your email signature, marketing materials, and more. Essentially, the key to being recommended by AI is having a broad internet presence. We can't be sure from where it will pull information, especially as the technology is updated, so having a well-maintained online presence seems crucial to catching the attention of AI. But don't stress too much about it. After all, the number one way consumers find their agent is still satisfyingly old-fashioned — by asking family and friends. Related Reading The Power of Local SEO for Real Estate Agents: 7 Ways to Optimize Your Online Presence 6 Expert Tips to Dominate the Online Real Estate Market as an Agent Influencer Approved: 6 Game-Changing ChatGPT Prompts for REALTORS
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[Best of 2023] 8 Browser Extensions for ChatGPT
There are just 10 publishing days left in 2023, and we're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published back in May and is #10 in our countdown. Stay tuned tomorrow for #9! ChatGPT is here to stay. However, for now, it's penned up in its environment on OpenAI (and its new iOS app), and anytime you want to use it, you have to schlep over there or open the app. While that's not exactly a hardship, it is inconvenient when you want its help on, say, writing an email or social media post. That's why we've rounded up this list of ChatGPT browser extensions. They bring the power of ChatGPT directly into Gmail and social media, summarize web pages and videos, and so much more. Check out these eight Chrome browser extensions out to see how they can help streamline your real estate business: 1. Talk-to-ChatGPT Using ChatGPT requires writing a lot of prompts. If spoken conversation is more your speed, this extension lets you talk aloud to ChatGPT. Use it to get help with tasks, generate content, and even just have a conversation. 2. YouTube Summary with ChatGPT YouTube videos…sometimes you just don't want to watch them! Whether it's the time commitment or that you're in a place where you don't want to use audio, there are plenty of reasons to go "Ugh…" when encountering a video online. YouTube Summary with ChatGPT brings the efficiency and convenience of skimming an article to video. This extension summarizes videos, giving you the gist without you having to watch the entire thing. 3. Merlin Speaking of summarizing, this extension will summarize not only videos but articles across the web. It can also translate languages and create content for Gmail, Twitter and LinkedIn. 4. ChatGPT Prompt Genius Your ChatGPT output is only as good as the prompts you put into it. The ChatGPT Prompt Genius extension helps you to create better ChatGPT prompts. Consider it your in-browser prompt coach. 5. TweetGPT Still on Twitter? If your efforts there have lagged recently, whip your profile back into shape with TweetGPT. This extension can help you to improve your Twitter engagement by generating creative and interesting tweets and replies. 6. Engage AI for LinkedIn LinkedIn is one of those social media channels that are often neglected in real estate marketing. Neglect no more with this extension, which works right in the comment field of LinkedIn so you can engage your sphere with sparkling, witty remarks! 7. ChatGPT for Google Supercharge your Google searches with ChatGPT for Google. This extension shows you Google search results alongside ChatGPT responses for the same query. And if Google isn't your search engine of choice, no worries—this also works with Bing, DuckDuckGo, and more. 8. ChatGPT Writer When you started in real estate, did you realize how much writing was in store for you? From emails to listing descriptions and various marketing materials, writing skills are always in demand in this career. ChatGPT Writer lets you harness the power of AI to write emails and other messages. It can help you to improve your writing style, generate more engaging content, and save lots and lots of time.
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Pricing It Right: How Agents Can Show Value to Home Sellers Through CMAs
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How Real Estate Agents Can Use Instagram to Promote Their Services
In the dynamic world of real estate, where every property has a unique story to tell, standing out is key. In this digital age, social media platforms provide an excellent opportunity to showcase your properties and services, and Instagram, with its visually-oriented approach, is a goldmine for real estate agents. In this post, we'll explore how real estate agents can use Instagram to promote their services effectively. Why Instagram? With over one billion monthly active users, Instagram is becoming increasingly popular. The platform is perfect for real estate because of its emphasis on visual content, such as photos and videos. According to the proverb, "A picture is worth a thousand words," and in the world of real estate, eye-catching images can fetch a high price. Create an Eye-Catching Profile Your Instagram profile is your digital business card. When prospective clients land on your profile, they should immediately understand what you do and what sets you apart. Here's how to do it: Profile Picture: Use a high-quality photo of yourself or your agency's logo. This helps establish trust and brand recognition. Bio: Write a clear and concise bio that includes your name, the area you serve, and your contact information. Don't forget to add a call-to-action (CTA) to encourage visitors to get in touch. Content Is King Now that your profile is looking sharp, let's dive into creating content that captures your audience's attention. Property Showcases: Regularly post high-quality photos and videos of the properties you represent. Show them from different angles, capture stunning interiors, and emphasize unique features. Before and After: Showcase transformation stories. Post images of a property before and after it's been staged, renovated, or redecorated. This is not only visually appealing but also shows your expertise in enhancing property value. Client Success Stories: Share testimonials and success stories from happy clients. These authentic stories create trust and build your reputation as a reliable agent. Local Highlights: Post photos of the neighborhoods and communities you work in. Share insights, local events, and attractions to give potential buyers a taste of the lifestyle in the area. Educational Content: Create informative posts about the real estate market, home-buying tips, or the selling process. Position yourself as a knowledgeable expert. Behind-the-Scenes: Give your followers a sneak peek into your daily life as a real estate agent. Show them the hard work, dedication, and passion you put into your job. Hashtags and Geotags In the world of Instagram, hashtags and geotags are your best friends. They help your posts reach a broader audience. Hashtags: Research and use relevant real estate hashtags like #dreamhome, #propertyforsale, or #realestateagent. Incorporate location-specific tags like #LosAngelesHomes or #NYCRealEstate for better reach. Geotags: When posting about a specific property or neighborhood, use geotags to increase visibility among local users. Engage with Your Audience Social media is a two-way street, so don't just post and disappear. Engage with your audience to build relationships and foster a sense of community. Respond to Comments: Promptly respond to comments on your posts. Engage in conversations and answer questions. Like and Comment: Interact with your followers' posts, showing that you're genuinely interested in their lives. This reciprocity can lead to increased engagement on your own posts. Collaborate: Partner with local businesses, influencers, or other real estate agents for shoutouts, giveaways, or joint events. Cross-promotion can help expand your reach. Stories and Live Videos: Use Instagram Stories and live videos to provide real-time updates, host Q&A sessions, and share unscripted moments. Consistency Is Key Keep to a regular posting schedule. Consistent updates keep your audience interested and demonstrate your involvement in the real estate market. Utilize Instagram Insights to track the most effective posting times and evaluate the effectiveness of your content. Advertising on Instagram Although organic growth is crucial, you should also think about running paid Instagram ads. You can target particular demographics, areas, and interests using Instagram's ad platform. This can be a powerful tool for promoting your services to a broader audience. Analytics and Metrics Keep an eye on your Instagram analytics to see which posts are performing well and which aren't. Use this data to refine your content strategy. Pay attention to metrics like reach, engagement, and click-through rates. Stay Informed The world of social media is constantly evolving, and so are the algorithms that determine what users see in their feeds. Stay informed about the latest Instagram trends, features, and updates to ensure your strategies remain effective. In conclusion, Instagram is a valuable tool for real estate agents looking to promote their services. With its visually-focused approach and vast user base, it's a platform that can help you build your brand, connect with potential clients, and showcase your properties and expertise. By creating an appealing profile, consistently posting high-quality content, engaging with your audience, and using analytics to fine-tune your strategy, you can leverage Instagram to boost your real estate business to new heights. So, go ahead, grab your smartphone, and start sharing your unique real estate journey with the world! To view the original article, visit the Transactly blog.
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