Last week, the KW Blog Editorial Team attended the very last stop on Inman News' Agent Reboot tour. With heavy industry hitters such as Chris Smith, chief evangelist of Inman News, Katie Lance, chief strategist of Inman News and Jim Marks, president and Internet anthropologist of Virtual Results, speaking, it was a jam-packed day of back-to-back, socially charged sessions, focused on hitting the high points on how social media, technology and video have changed the way agents interact with their clients and businesses. Here the KW Blog Team shares our top five aha's from the event:
1: There's not one person in your database who doesn't know another real estate agent. So the question is: What are you doing each day to ensure that your sphere stays loyal to you? During his "What Is the True Value of Social Media?" session, Marks elaborated on the point when he added: "Your sphere didn't just appear out of thin air! You had to work for it,” he said. “It's the activities that you do consistently over time that determine the size and strength of a real estate agent's sphere of influence. And social media is an excellent sphere retention tool - use it!"
2: More information = more business for real estate agents. There's a rumor still running around that says the more information a consumer has on the buying and selling process, the more likely they will NOT use an agent. But it's just not true. According to the National Association of REALTORS Buyer and Seller Study, in 2001, 69% of consumers purchased a home through a real estate professional. Fast forward to 2012. Today there’s more information than ever available to consumers, yet 89% of consumers bought a home through a real estate professional. That's a 20% increase! So what is the strategy for you? Be the trusted expert who is able to answer questions online.
3: Video is here to stay and will be demanded by consumers. "I predict that in the next five years every single listing will have a video," said Smith. In response to this demand, the number of iPhone and Android apps that allow real estate agents to quickly shoot, edit and post video will rise. One such application that's hoping to break into the market: Videolicious. Matt Singer, the company's founder and CEO, took to the stage to walk agents through some very important tips on crafting video that will get more views. Which leads us to our next “aha.”
4: Video etiquette is crucial. We're sure you've heard the stat that every second, one hour of video is uploaded to YouTube. That's 24 hours every 24 seconds, or a decade every single day! Now, before we throw our hands up and walk away, we have to remember that the real estate industry only makes up a small portion of YouTube, and there's still room to compete ... for now. So what do those numbers have to do with etiquette? With all that video to watch, you have to make sure your video meets the audience's expectations of a “professional” video. When shooting a listing for instance, Singer suggests taking 10-to -15 second clips of the home's most admirable features using one complementing these characteristics. He also reminded the audience to be sure and smile before the camera turns on and to remain smiling until the camera stops recording.
5: There's no app to instant, online success. We particularly liked this one. In real estate, a Website is an important card in your business deck. Yet, so many real estate agents miss its potential power in generating more business. "And even if it isn't in your business plan to capture leads online, it's still important to have a presence online to showcase your brand," said Scott Price of Placester during his session titled "Main Street Has Moved: Invest in Digital." Price believes that taking the time to think about what a consumer wants to see online, testing a Website’s UI (or user interface) and following key Website analytics to determine how to improve online conversion rates are strategies that real estate agents need to take seriously – or at least invest in someone to do it for them.
Did you attend an Agent Reboot this year? What were your big ahas from the event?