Realtor Online Risk Reduction - 2012 Edition

Engaging a 2.0 World

Matthew Rathbun, Broker
ABR, ABRM, AHWD, CDPE, CSP, e-PRO, GREEN, GRI, SFR, SRS, SRES
EarthCraft and Eco-Broker Certified

Wednesday, September 26, 12

TheAgentTrainer.com/williamsburg
Four Pillars 2010-2012©

Don’t Be
A
Squirrel!


The Culture

Act I

...But it’s a People Business

Than we’d better begin
engaging them where they are
and not where they used to
be.


YouTube Moment

Think Different


7


NAR
Profile
of
Buyer
and
Sellers


Tools Buyers Used to Find
Homes
90
88 87

67.5

55
45
45

30
22.5
19
16

Source 4 4 0
4

Internet - 88% REALTOR® - 87% Yard Sign -55%
Open House - 45% Print/Newspaper - 45% Home Magazine - 19%
Home Builder - 16% Relo Company - 4% Television - 4%
Billboard - 4%

Source NAR Profile of Buyers and Sellers 2011 64

HOW THE BUYER
ACTUALLY FOUND
THEIR HOME 1% 38%
1%
2%
5%

6%

Internet (38%) 14%
Realtor (33%)
Yard Sign (14%)
Home Builder (6%)
33%
Friend/Relative (5%)
Knew Seller (2%)
Flyer/House Book (1%)
Print Media (.87%)
Source: 2011 NAR Profile of Buyer and Sellers

Online Consumer Response
Expectations
Over 1 Business Day - 0%
Within 1 Day - 2%
Within 2 Days - 3% 30
Within 4 Hours - 15% 23
Within 1 Business Day - 16% 15
8
Same Day - 19% 0
Within 30 Minutes - 20%
Instantly - 25%


WHAT DID THEY FIND
IMPORTANT?

100

75

50

25
0

Agent Info (3%)
Company Info (5%)
Area Information (21%)
IDX/MLS (96%)

HOW ABOUT THE FOLLOW THRU?

• 45% of Leads will turn into a sale for someone

• Only 10% will become a sale in 90 Days

• 22-25% will convert to a sale in 180 days

• The average on-line buyer needs to be incubated
for six months to a year.

• The older the Lead the less competition.


Marketing is a conversation


Social Statistics
&
Psychometrics

Financial
Profiles

A Few Simple
Rules

Act II

YouTube Moment

United, United

18


19


Where is Dave Carroll Now?

$3,500 guitar suffered $1,500 in damages
because of the ground crew’s mishandling

According to the Times of London, "...within four days
of the song going online, the gathering thunderclouds
of bad PR caused United Airlines' stock price to suffer
a mid-flight stall, and it plunged by 10%, costing
shareholders $180 million. Which, incidentally, would
have bought Carroll more than 51,000 replacement
guitars."

Launches www.Gripevine.com in February 2012


John
Smith,
REALTOR®

ME!
21


22


• Click
to
edit
Master
text

styles

23


www.Google.com/Alerts


HiJacked Listings!

25


Home Security

26


www.recordertheapp.com

27


• Must have legitimate return e-mail
address

• Clear and Conspicuous notice of the
recipients opportunity to “opt-out”

• Clear and Conspicuous notice of
Solicitation

• E-mail is to be used for:
• Responses to Inquires
• Contact Clients and firms involved in
a transaction
• Remain in contact with former client
• Promote Property Listings

VIRGINIA
DEFINING ADVERTISING
Virginia Code 18VAC135-20-190

“Advertising” means all forms of representation, promotion and
solicitation disseminated in any manner and by any means of
communication to consumers for any purpose related to
licensed real estate activity.

Disclosures Required:

1. Firm’s name, city and state of office

2. Licensee’s Name

3. License Status

4. Jurisdiction(s) Licensed


• Agents name and licensed status
must be disclosed on all
solicitations or business related
pages and e-mails.

• Brokerage Name and address
must appear on all webpages in
the first viewable section.

• Both must disclose all the

18VAC
locations in which they hold a
license.

• Actual status of listings must be
show


CODE OF ETHICS APPLICATION
➡Standard
of
Prac5ce
1-‐2:
Applies
Code
ar5cles
to
the
internet
➡Standard
of
Prac5ce
1-‐9:
Conﬁden5ality
➡Ar5cle
10:
Fair
Housing
➡Ar5cle
12:
Honesty
in
Marke5ng
(Similar
to
VAC)
➡Ar5cle
13:
Prohibi5on
from
giving
Legal
Advice
➡Ar5cle
15:
Reckless
Statements
about
other
REALTORS®


GENERAL LEGAL CONSIDERATIONS: BLOGS

‣ Defama5on
‣ Unlicensed
Prac5ce
of
Law
‣ Breach
of
Conﬁden5ality
of
Clients
‣ Copyright
Viola5ons
‣ Untrue
Statements
‣ Trademark
Considera5ons
‣ Necessity
for
Required
Disclosures


Policy Recommendations
➡ Further
steps
you
can
take
to
reduce
your
liability:
➡Post
only
material
you
own,
you
have
permission
to
use,
or
that

is
with
the
scope
of
fair
use
(generally
includes
review,
news

repor5ng,
teaching,
or
scholarly
research);
➡Remove
infringing
content
immediately;
➡Have
a
well-‐craZed
Terms
of
Use
➡Instruct
agents
and
those
pos5ng
to
use
cau5on
when
pos5ng;
➡Realize
that
blogs
can
be
viewed
as
an
adver5sement
and

follow
all
applicable
rules;
and
➡Don’t
select
and
edit
messages
–
it
could
subject
you
to
greater

liability
because
you
are
taking
a
more
ac5ve
role
in
the

publishing
the
contents.


Broker Policy Recommendations

➡Add
Agents
to
Personal
RSS
Feeder
➡Have
wriaen
policy
➡Outline
what
they
are
permiaed
to
write
about
➡Outline
what
types
of
sources
they
can
use
for
clients
➡Outline
number
of
Blogs
they
can
have
that
are
RE
related
➡Require
training
to
post
➡Have
requirement
for
Licensee
to
advise
you
of
every
new

marke5ng
venue
that
they
use.


BROKER POLICY RECOMMENDATION
‣ Appoint
a
Tech
Savvy
Broker,
as
the
New
Media

Manager.

Someone
needs
to
manage
your
online

reputaFon.

‣ Have
wriHen
policies
to
govern
who
can
write
blogs
etc…

‣ What
they
are
permiHed
to
write:
‣ Only
factual
informaFon
‣ Must
have
disclosures
‣ Must
report
any
complaints
made
on
their
posts
‣ The
may
not
edit
comments
except
for….


Anti-Trust Discussions

• Commission
Discussions

• An5-‐Compe55ve
Agreements

• “Raising
the
Bar”
Conversa5ons

36


Agent Identity Watch

➡Centralized Showing and Lockbox
➡Agent Impersonations Online
➡Access of Client Databases
➡Shared Lockbox Access
➡Shared MLS Entry
➡Computer Threats
➡(By and Against Agents)

37


Social Sentry


Trulia Voices


Think,
then
Write...


The Future

Act III

Dan Smith Jack White

Tony Jones

Fran Brown
Tonya Lohr


The Have’s
versus
The Have-Not’s

Microsoft’s Vision of the Future


I
Want
My
Jet-Pack!


The Future of
Buyer
Engagement


Online Offers


Augmented Reality Realty

Augmented Listing Data

Augmented Home Showings


Green’ing The Process

A Few Tools

Act IV

Write It Right - www.Join.me


Tech-Fatigue


www.TheAgentTrainer.com

matthew@realtor.com

Facebook.com/mattrathbun

@mattrathbun CE -
PLE -
YouTube.com/MattRathbun1

Realtor Online Risk Reduction - 2012 Edition

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