Real Estate Technology Insight
Matthew Smith, Editor
One of the biggest deal-breakers in the real estate business is
outdated online listing information. The problem is rampant, according
to Larry Stewart, RE/MAX Saskatoon broker and franchise owner in
Saskatchewan, Canada.
“The
biggest problem we have in the industry is half the stuff the public
sees has already sold,” he said. “Data gets posted [to a Web site], but
it doesn’t get taken off.”
The
problem hit home for him and his company when sellers started
complaining about how long it took for their listings to appear online.
“When we input a listing, by the time it comes out on the MLS.ca Web site, it can be a week,” Stewart said.
Determined to improve the effectiveness of the company’s online
presence, he decided to “take our operations to another level.” Most
important, the brokerage wanted to make sure its inventory was current.
In search of timely listing data
On the Web at http://www.remaxsaskatoon.com,
RE/MAX Saskatoon has five locations and claims about 39 percent of the
Saskatoon and 43 percent of the Prince Albert real estate markets.
There are about 120 Realtors, and each has a personal Web site with
their own listings.
In
looking for a third-party vendor to help improve the site, Stewart
considered several other vendors, but eventually settled on the Point2
Agent software, which is designed to make marketing easier for real
estate agents and brokers. It automates online advertising, printable
listing brochures and lead incubation through an online interface.
RE/MAX
Saskatoon has been using the system for only a few weeks. It’s using
the online tools, as well as some of the functionality for creating
print collateral (feature sheets).
The
company’s Realtors are using the software to create their Web pages and
to drive traffic to their sites through search engine optimization.
Stewart estimated that Point2 hosts about 86,000 Web sites, and his
company is ranking in the top 10.
“That’s because we’ve hired an individual to tweak this site. That’s all she does, adding metatags and keywords,” he said.
Measuring the results
Those strategies have paid off. Page views for the brokerage’s Web site
have gone from 12,000 per week to about 20,000 per week, Stewart said.
The Point2 system includes a home valuation tool for Web visitors,
which is helping to boost traffic.
“It’s driving the public to us,” he added. “Now we have to capitalize on that and list and sell.”
RE/MAX
Saskatoon’s Web site specialist also adds and maintains site content.
After she adds a listing to the company site, she makes sure it gets
posted to the MLS site.
“It’s on within 24 hours, and with good data,” Stewart said.
He
said he expects the system will turn the Web site into a strong source
of leads. Currently, the company works with a RE/MAX international
referral service.
“That’s primarily our lead source, as well as our brand name. It’s not the Web site at this point,” he said.
But
with the new system, the company is prepared to react quickly to
Internet leads. Stewart said his agents can respond to Web inquires
“within the hour.”
The new
system has also improved listing photo quality — another problem
Stewart had with the local MLS system. He hires professional
photographers to document properties and posts high-resolution images
to the site.
Brokers and agents, take heed
In offering advice to other Realtors, Stewart said they should focus on
maintaining “warm, rich” listing data and include many pictures for
listings.
“Make
sure your information is up to date,” he said. “That’s my biggest
thing. People have no patience for a Realtor whose information is not
up to date.”
He added that
Realtors have to consider the fact that the public now has pretty much
the same tools as they do in terms of access to online listings.
“The challenge is how do we create the value? They don’t really need us,” he said. “They need us to see properties.”