Cafe office in Bucks County

Changing to a “virtual office” seems like a dramatic change but it basically takes advantage of new technology.

Coldwell Banker Hearthside, REALTORS® started a “virtual office” for agents in its Malvern location several weeks ago. The goal of this pilot project is to reduce the office’s overhead costs and eliminate the need for agents to be in the office.

Agents are no longer married to an office. Nearly everything they need to do business is available to them online and the phone system routes calls directly to them. If an agent needs to go to a physical office, they can use any of Hearthside’s 19 locations.

REALTOR® Lori Vanderbilt had her first settlement since the office changed. She finds people are actually more accessible.  “It feels like we’re ‘virtually’ surrounded by people because we’re able to get a hold of someone 24/7,” she added.

Communications between agents has increased despite the reduced hours in the office, according to Chris Beadling, Coldwell Banker Hearthside vice president. “Our agents used to talk when they were in the office for a meeting but now that they have Skype available to them and they’re talking to each other more.”

Floor or opportunity time where agents need to be in the office has gone down nearly 100 percent because calls are forwarded to them, Beadling said. “We followed NAR’s research about what buyers are doing and where they’re coming from. They’re using the Internet more and they don’t know whether an agent is in an office or at Starbucks when they answer a call.”

Chuck Barbera, a REALTOR® for about a year, sees the virtual office as a win-win solution for everyone involved. He said, “For agents, things are faster with the new technology. The broker/owner is reducing his overhead costs and our buyers and sellers are gaining more attention, efficient results and hopefully they having a better experience with us.”

Beadling said the transition to the virtual office has been smooth because as a company, the office decided two years ago that it would train its agents to work with emerging technology. “We have someone within the company who provides in-house training for our agents and has brought them to a different level,” Beadling said. “Our agents have embraced the change our technology expert Stefanie Hahn has brought and they’re excited to leverage the technology to improve their business.”

Pam Sheehan, associate broker/manager, said the agents like the change. “We’re thrilled with how well everyone has adapted to the change. In a recent meeting everyone agreed that the change was seamless, especially to our clients.”

The company also launched a café office in Bucks County three months ago. The office offers free wireless Internet service and coffee to anyone who stops by and the office is gaining popularity within the community. Coldwell Banker downsized the office from 4,500 square feet at its previous location to open a new location with 1,400 square feet.

“The agents feel the office is more inviting to clients,” Beadling said. “It does have its challenges since the audience is always mixed and you have to be very aware of privacy issues. We’ve worked to develop open and closed wireless connections so we don’t have security issues.”

Within the Coldwell Banker brand, West Coast offices have transitioned to similar virtual offices and café locations.

Homebuyers can now “walk” through another house, look at the size of rooms, see the connecting hallway and check whether their furniture fits, all while viewing the virtual 3D home on their computer.

With the virtual 3D tour, REALTORS® can now host virtual open houses. Clients can visit the website, “walk” through the property and ask questions of the online REALTOR®. “This type of virtual tour will provide a huge cost and time savings for both REALTORS® and clients,” said Brian Shuster, founder and chief executive officer of Utherverse Interiors. 

Shuster, whose company is based in Vancouver, said younger REALTORS® and consumers are quick to adopt the new technology because the online tour looks like a video game. “We think this will appeal to older consumers too because they’ll be able to move furniture around, change the paint colors and determine what works before investing time and money into the property,” he said.

The technology has been around for some time but it was expensive until the company had a breakthrough in its software. “A year ago, this process would have cost thousands of dollars but now we’re able to create a 3D virtual tour of a home for a couple of hundred dollars, depending on the size of the home,” he said.

Personal experiences led to Shuster expand his video concept to the residential real estate industry. As his company was looking into expanding its offices, they discovered that by putting the floor plans into this program, it was easy to move offices and furniture around to see what would best meet their needs. “Within a couple of hours, we had the answers we were looking for,” he said.

To create a virtual tour, Utherverse Interiors uses a floor plan of the property and photos of every room. In less than 48 hours, a virtual tour is created.

“Buyers can get an in-depth preview of dozens of homes in a single day, allowing them to focus only on those houses that they know they like,” he added. “All of the energy and commuting for potential buyers and agents is greatly reduced. This breakthrough has hugely simplified the entire home-buying process from start to finish. As an agent, you can run 50 house tours a day if you want.  As a buyer, you’ll know exactly how your home will look before you even start to pack.”

Technology has changed how companies should market to consumers if they want to be successful, Volpe said. Because consumers have the capability to block out broadcast marketing through DVRs, to screen telephone calls with caller ID, to block e-mail with spam filters, it’s harder to reach consumers with outbound marketing.

“Companies who want to build their businesses use inbound marketing,” he said. “Inbound marketing is designed to bring consumers to your website, not sending outbound mass mailings. People are still buying things; they’re just finding want they’re buying through search engines, blogs and recommendations on social media. Companies have to consider how to attract consumers to them and what they can do to be found in these different areas.”

Volpe said there are a few key steps to drive consumers to your website:

Content: Create interesting and useful content. The articles shouldn’t be about what a great person you are. Fresh content is what search engines and people love. The real estate industry is tough because many brokers have a template site. I recommend using that but also build a separate site that you own and control.  It’s an extra investment but is ultimately worth it and the site stays with you even if you change companies.

Search engines: Optimize your website for search engines. Key words will give your site more exposure. Companies that publish a blog get 55 percent more visitors to their websites; they have 70 percent more followers on Twitter if they publish a blog. A blog can be as simple as writing about what’s going on in your community or a review of a new restaurant that opened. These are all things people consider when they’re looking at a place to live. Blogs make a website more interesting in social media.

Promote through social media: Use Facebook and Twitter accounts to drive people to your website.

Converting traffic :  Consider what people find when they go to your website. What is their next step? Do you ask them subscribe to a newsletter, do you collect their information or sign them up for MLS listings? You need a conversion step. The goal is to get as many people as possible to move to the conversion step. You want to make an attractive offer so people want to give you their information.

“Many REALTORS® have a website that’s like a billboard in the desert,” Volpe said. “Consumers only see them if they know the exact address. To bring in new business, you need to think about how you’re attracting people to the site. Your website should be a magnet that pulls people into your business.”

Volpe said recent case studies have shown businesses have doubled the traffic to their websites in three months just by creating an interesting blog and creating click ads with Google. “Niche businesses have a real need to be blogging,” he added. “You need to be one of the first to blog about certain homes in your geographic location.”

Mike Barnett

“Know your demographics,” Barnett, a fourth generation broker in Arizona, said. “If you’re working with your own generation, it’s not too hard. But when you look at the generational diversity, it becomes more critical to understand how they’re communicating.”

As new REALTORS® enter the market, social media, texting and multimedia services are critical to staying in business. “If you’re still working to get your phone on vibrate, there’s a problem,” he added.

It’s important to understand the goal of participating in social media. “Are you looking for buyers and sellers online or are you finding information to better work with your buyers and sellers?” he asked.

“Real estate is a networking game. You network with fellow REALTORS® and with the general public,” Barnett said. “Your social media efforts are different if you’re trying to get referrals from other REALTORS® than if you’re trying to find new customers.”

Barnett suggests one way REALTORS® can communicate with their sphere of influence is to create a group on RealTown.com. A REALTOR® can create a group for his home development which gives him the opportunity to converse with other people in his neighborhood. “You do better business by communicating with people in a conversational, meaningful way,” he added. “You invite people to join and you talk about area activities, yard sales, minutes from the homeowner’s association. By doing this, you build trust and confidence showing your expertise about the area. It’s definitely the ‘meet and greet’ of the 21st century.”

This sharply contrasts to Barnett’s own days of starting in the real estate business. “They used to put us in a van in the morning and drop us off on a specific street and we knocked on doors, talking to people in the neighborhood; then we’d attend a Chamber of Commerce meeting in the evening. That’s how we used to network with people who own homes – it’s different today,” he recalled.

“There are some people who will never embrace technology but I’m not sure that’s who I’d want to go to,” he added. “REALTORS® used to control all the listing information but the public has access to the information now. It’s important to recognize the change and learn to work with it.”

Tricia Andreassen

If a REALTOR® can’t be found on the Internet, he doesn’t exist to most consumers, according to Tricia Andreassen, CEO and founder of Pro Step Marketing, in Denver, NC, a real estate-focused marketing strategy, design and implementation firm.

“Today’s consumers live online. They use the Internet to search for information, to research what they want to buy and who to buy it from,” said Andreassen, a former real estate agent who’s spoken at national conventions for Century 21, Keller Williams and RE/MAX.

NAR’s latest Member Profile shows that just two-thirds of REALTORS® have websites. Andreassen said that’s surprising and a little scary. “Eighty-five percent of buyers found their agents online. A website is a core component of business today. Consumers expect to get information quickly and to make their own assessment about the next steps,” she said.

Targeting consumers is a way to make a website more successful, according to Andreassen. “A website should appeal to the consumer who the REALTOR® wants to work with,” she explained. “It’s about having a targeted niche in real estate and then having your market message support that niche. Buyers and sellers don’t want to work with a ‘Jack of all trades,’ they want to work with someone who is highly experienced for what they need.

“You need to understand how to connect with today’s buyer and seller, tailor your expertise to engage them to work with you, generate more leads and raise the conversion rate,” Andreassen said. “It’s not about having a website; it’s about having a strategy that connects with the type of consumer you want to work with.”

It’s also important to keep content fresh and appealing to consumers. Andreassen suggested re-evaluating a website every six months, determining what the focus will be. The main content pages are the foundation and by adding additional content and weaving in unique offerings, like the homebuyer tax credit, the site will stay cutting edge.

“There is an incredible opportunity for REALTORS® to differentiate themselves in the marketplace,” she added. “Many REALTORS® will get out of the business or pull back from their market and those who step out with a target message and plan will be able to differentiate themselves more effectively than ever before. Now is the time to re-focus, re-invent and re-tool your business. Those who do will no doubt succeed.”

Example of a CAPTCHA box

Answer: You need a CAPTCHA program for your blog. A CAPTCHA program places a box on the comments page (or registration form) with distorted text. The user must type in the letters seen in the box in order to place a comment. The spam comments come from bots which are automated programs that “attack” your site. Bots cannot read the distorted text and therefore the CAPTCHA codes prevent spam on your blog.

PARJustListed.com is programmed by WordPress.org and I have the free SI CAPTCHA Anti-Spam plug-in installed to prevent spam comments.

Another service I recommend (which is also free) is ReCAPTCHA.net.

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Karel Murray

“REALTORS® should take a look at their business and see how changes could help their business improve,” Murray said. “You really should consider whether you are delivering what the customer wants or are you obsolete?”

She highlighted six areas to consider:

• Social networking is transforming how people connect. Many REALTORS® are using social networking but they don’t have a strategy. “Some people are freaking out, especially those who aren’t Internet savvy. If you don’t care about the Internet or how it works in your business, then I guess you can niche-market the older consumer,” Murray said.
• Video is king. “REALTORS® should be using quick audio or video clips to relate to their consumers,” she said. “With the Logitech Quick Cam or the Flip, it’s easy to create one- to two-minute videos and you add a human touch.”
• Tighten the advertising belt. “We’re seeing a shift in the market and you should be considering the cost versus the benefit for advertising. It also translates into going ‘green’,” Murray said. “Most people are getting what they need on the Internet. You need to capture your leads and connect with those consumers.”
• Sales prices are declining but not as rapidly as in 2008. Murray said that means REALTORS® need to close more transactions to earn the same money. “You need to consider how you are going to make up the difference,” she added.
• Be more creative to reach the public. Consider how to capture their attention, identify the target audience and then find the best way to connect with that audience.
• Buyers and sellers need you now more than ever.  REALTORS® should build up their competence and reliability so they can complete a flawless and seamless transaction. “That will help you build a solid foundation on which to create long-term relationships with your clients,” Murray said.
• Focus on what works. “Sometimes you need to slow down in order to speed up,” she added. “Identify what works for you and your clients and what is the most cost effective to have the greatest impact.”

“The real estate market really changed in the last two years,” she said. “Keep an eye on these changes and then implement only those that are truly effective and efficient.”

Screen shots of the Complete Homes app

A new suite of iPhone apps could change the way REALTORS® do business.

The Complete Realty Suite from Visionary Apps launched in late February and was already ranked the 17^th most downloaded app over thousands in the Apple Store.

Visionary Apps were designed to work on Apple’s iPhone, iPod Touch and iPad and designers are working on upgrading the design for the bigger iPad screen. Visionary Apps CEO Dan Burrus said versions for Blackberry and Droid will launch in a few months.

“We’ve seen a fundamental shift in how people gather information,” Burrus said. “Smart phones and pads are going to completely change how people buy and sell real estate and I want to lead that change.”

The suite contains three free apps: Complete Homes, Complete Foreclosures and Complete Rentals. Complete Homes provides listings on homes for sale nationally. Complete Foreclosures are bank-owned homes, foreclosures, homes for auction and pre-foreclosure homes that have been served a notice of default on their mortgage. Complete Rentals includes rental homes and apartments.

The app asks the user to allow it to identify the user’s current location in order to find homes/rentals in the area. REALTORS® can purchase exclusive rights to “own” the zip code for every listing.

“REALTORS® have complete control over these profiles,” Burrus explained.  “We will soon begin holding monthly webinars with our current REALTOR® subscribers to share best practices and ideas. From a marketing standpoint, we’re spending money in PR to make sure the public is using these apps to look for homes and foreclosures which will then benefit the REALTOR®.”

Visionary Apps were designed to work on Apple’s iPhone, iPod Touch and iPad and designers are working on upgrading the design for the bigger iPad screen. Burrus also said versions for Blackberry and Droid will launch in a few months.

Burrus believes the 3G version of the iPad is going to be THE tool for real estate agents. “When a REALTOR® is out driving around with a client, he can let the buyer search local listings with the iPad and its bigger screen. My advice is why wait to buy one? If you love your BlackBerry, keep it but also get the iPad as your main real estate tool.”

Launched late last year, RentJungle.com pushes traffic to sites with rental listings available online, according to Jon Pastor, its president. Based in Pittsburgh, Pastor said he and Cleveland-based REALTOR® Rick Ferris started Rent Jungle to serve an area that was underserved by search engines like Google.

Rent Jungle works much like other search engines in that it scours the Internet to amass apartment listings from a variety of sites.  It employs spidering technology that can detect both when new rentals come on the market and when rents for a particular property change.

REALTORS® who work with rentals can send a feed to Rent Jungle to get the information in the system immediately. Agents can also pay to have their listing appear on the first page.

“Because of the way we collect data, we have an interesting historical prospective on rental properties listed online,” Pastor explained. “We can provide information about what the average rental price is in an area so you can compare what’s available in a neighborhood.”

Over the last six months, Rent Jungle has noted the average rent for an apartment in Pittsburgh has remained flat. Philadelphia average rents have decreased by $59 to an average of $1,089 per month, a decrease of ~5 percent, according to Rent Jungle. Nationwide, average apartment rents decreased by four percent over the same period.

“Despite these decreases, we are seeing some encouraging signs in the rental market,” Pastor said. “Looking at just January this year, rent nationwide is up one percent over December, which is a reversal in the overall six-month trend. Pittsburgh had had a relatively strong rental market through the downturn, whereas Philadelphia tends to mirror New York City.”

Rent Jungle is offering a three-month free trial to list properties to test its services.

“I’ve been covering technology since 1993 and it’s always surprising that the majority of REALTORS® are slow to adopt technology,” Antoniak said. “Technology is intimidating to a lot of people.” So he’s written an ebook A Guide to Essential Technology for Mobile Professionals that has the advice on all that’s available to save time, boost productivity and improve client services in the field.

“Real estate is one of today’s most highly mobile careers but even many successful or aspiring agents and brokers need some guidance figuring out which are the right tools and technologies for them,” he noted.

Must-have basics for REALTORS®, according to Antoniak, include:

• Smart phone – These have a lot of functionality for a mobile professional.
• Computer – You need some type of computer, whether it’s a netbook, notebook or laptop.
• Contact management system – This is essential for tracking your clients and leads.
• Digital camera – While a phone may have a camera, the quality isn’t as good as a separate camera. The good news is that prices are coming down and these are very affordable.
• GPS – An essential tool for REALTORS® today. The phone application may not work the best while you’re driving. 

A companion web site was created for the book and gives some general information. A Guide to Essential Technology for Mobile Professionals is available now as a PDF download for $7.99 at RealTechTools.com.