Archive for November, 2009
It certainly feels like every month there is another record broken for the number of internet searches for property – that is just the reality of the choice the consumer is actively making in assessing what is the most useful form of media to choose for property search.
In the month of October as reported by Nielsen online there were over 1.6 million unique visits to NZ real estate websites. This represented a year on year growth of 24% – that is an additional 300,000 unique visits this year as compared to last year.
By way of comparison the print media for real estate have not faired so well. The Property Press readership figures just published by both Nielsen and Roy Morgan show that weekly readership fell by 11% over the past year in the case of the Nielsen survey and by 13% in the case of the Roy Morgan survey.Along with this massive swing to online, the two websites of realestate.co.nz and Trade me property both surpassed key milestones.
For Realestate.co.nz it was just the second month of 400,000+ unique browsers (up 54% on a year ago) and for Trade me property 1 million+ unique browsers in the month (up 40% on a year ago).The data for all the websites tracked by Nielsen is presented in this document.
To assit you in sharing these key pieces of information with your clients and prospective clients we have produced a new set of key fact sheets to highlight these trends. Click here to download these pages.
November 05 2009 | Nielsen Online stats and Online marketing | No Comments »
It is over 3 years ago that the Realestate.co.nz website was born, and as we approach a new milestone with the plans for the new re-launched website which will be announced in the coming weeks, it is timely to remember the principle of this website:
“An industry owned website – supporting and protecting the real estate industry of NZ from the profit motivated ambitions of global media players”
For 4 years Realestate.co.nz, through the significant support of this industry has been able to develop and operate a website that has grown in size from 180,000 to over 400,000 unique browsers per month, and at the same time grown its subscriber base from 80% to 94% of all offices. All achieved whilst holding the cost to the industry at the same level of $200 (+gst) per office per month.
During this time, we can with due pride say we have significantly challenged our media owned competitors.
In the case of the REA Group owned ‘allrealestate.co.nz’ we forced them to shut-up shop and leave the NZ market. In the case of Fairfax owned ‘Trade me property’ we have been a factor that has potentially constrained their ability to raise subscription fees.
Their subscription fees 3 years ago for residential property sales is the today as it was back then in 2006. This success is neatly presented in the chart below which not only shows the annual subscription costs of the two leading NZ real estate portals but also compares it to the revenue charged to Australian real estate companies by their leading property portal (realestate.com.au) over the same period.
The question that I am sure will surface in your mind in looking at these numbers will be”what would we be now paying in NZ if we did not own the valuable website of Realestate.co.nz??”
Conservatively you could say that Realestate.co.nz has saved the NZ industry around $16 million over the past 4 years. This calculation is made by looking at the Australian website of realestate.com.au and its annual revenue per office per year. By this calculation it is quite logical to see what might have been the case in NZ of what offices might now be paying.
Back in 2006 Australian offices paid an average of $7,800 per year for realestate.com.au. At that time in NZ Trade me was charging the current monthly fee of $599 equating to $7,188 per annum – not that much difference. Now applying the same annual % increase each year that realestate.com.au has levied would mean that in NZ offices might now be being charging $12,900 per annum – over $1,000 per month by the dominant website.
Makes you think that the current subscription fee of $200 per month for Realestate.co.nz is a great representation of value, or as a new UK industry owned real estate website put it so well last week “Stop feeding the hand that bites you“! – how they would wish they had a leading industry owned website.
Later this month we will be communicating the full details of the new websites we are building. These sites will allow us to better serve the specific needs of each sector of the real estate industry far better than a general property portal. The commercial property sector, the business broking sector, the rural property and farming sector specifically will be uniquely serviced by Realestate.co.nz with a new and powerful online marketing platform.
November 05 2009 | News | No Comments »
With ever more people turning everyday to the web for information on all real estate matters it is not surprising that the smarter agents are focusing more and more of their marketing dollars to online campaigns.
The feedback we are constantly getting is something we want to share to help you build your real estate career and business:
“I absolutely believe in the benefits of your feature listings and have brought that to the attention of all sales people at Harcourts Takapuna at our last 2 sales meetings” – Chris Baker, Harcourts Takapuna
“The feature property option will be something we will be gradually building into our standard budgets …. I know with the growth of internet (approx 30% of our open home attendees see the property first on a website) it will eventually become the most important medium for our advertising dollar” – Diana Buczkowski – Barfoot & Thompson Epsom
Featured Listings are being used more and more as a tried and tested means of profiling a property in the lead up to a tender, auction or deadline treaty. These 2 week bursts of high profiling advertising certainly hit the spot with vendors – visitors to these listings see a 500% plus lift often exceeding 10 times the normal traffic.
For just $250 (inc GST) your listing will be featured exclusively as one of 3 per suburb for 14 days during which time it will also be featured on the home and region pages of the site in rotation. To order your featured listing on behalf of your client give our Auckland based team a call on 0800 732 536 or email us at email@example.com.
To assist in presenting this great offer to your clients as vendor paid marketing this sales leaflet helps present and communicate the benefits – download a copy and try it at your next listing presentation.
Featured Agent Advertising
The next series of featured agent advertising months have now been opened up so you can go online and purchase the featured agent advertising for your selected suburbs for the next 4 months – December / January / February / March.
These adverts are proving incredibly popular, with close to 800 indiviudal agents across the country with many suburbs fully subscribed and many agents encouraged by the response these adverts bring in raising their profile in the local market and soliciting new enquiries for property listings.
The price for these advert remains at the current rate across the different categories of business we feature on the website.
To buy a personal profile advert for your chosen suburb all you need to do is login to our Agent Pro website at http://www.realestate.co.nz/pro (don’t forget this link is at the bottom of every page on the website) – sign up if you have not already done so, then choose your desired suburb, check that the month you want is available and then buy online with a valid credit card.
The website attracts over 25,000 unique visitors every day and this is a great opportunity to promote yourself to this audience who could be looking to list with an agent like you!
November 05 2009 | Online marketing and Special offers | 4 Comments »
We are very conscious of the changes that the new Act brings into effect from the 17th November. Very little directly effects the operation of the website. However there are one or two that do and we will communicate these in the coming weeks.
The first change which we are implementing with effect from today with the intention of completing before the 17th is the naming of offices on the website. We wish to implement a standard presentation across the site and thereby save the industry from having to apply the wording of the Act to all material. This specifically relates to clause 121 of the Act – specifically 121:2 (c) this states the following:
Every agent must ensure that the required name information is displayed in a prominent place on all notices, advertisements, and other material published by or on behalf of the agent in the course of the business
The current protocol adopted by the website is to show the legal name followed by MREINZ followed by the trading name and location. The example below represents the current format.
The change being implemented is to show the legal name followed by the statement Licensed: REAA 2008 in closed brackets followed by the trading name and location. An example of the new layout is shown below.
The Act does not call for the designation of licensee status to be identified in the context of a salesperson and therefore we shall continue to display the salesperson’s name adjacent to the listing.
November 04 2009 | News | 2 Comments »