Web Still Wide Open For Realtors & Real Estate Wholesalers

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on May 29 in BestTransactionFunding

Are aging, low tech real estate agents and investors actually making it easy for newcomers to win more business on the internet?

Inman News and NAR have recently raised the issue of today’s aging real estate professional population, and the opportunities it offers for the young and ambitious. Even though most Realtors say they plan to stay in the business for another two years, the average agent is now 56 years old. This, along with the new growth phase we are entering, has led to real estate has been dubbed one of the best careers to get into.

While older generations have been adopting technology, and iPads have become one of the most popular presents for grandma during the holidays, many real estate workers have been very slow to integrate. It took years for many to start using email. The latest statistics suggests that despite the presence of drones and Skype, many are still not embracing the most basic forms of online real estate marketing.

A new 2014 Member Profile report from NAR suggests the vast majority of Realtors are spending very little on internet marketing.

The report found Realtors spend far more on their vehicles than any other business expense. The median amount spent to maintain their real estate websites in 2013 was just $200. Many top real estate wholesaling gurus spend far more than 10 times this amount on online marketing per month.

A little more than half of Realtors say they now use social media for real estate marketing, but few reported have a blog. Industry news analysts have been criticizing agents for their poor use of SEO, while others highlight the data showing low repeat business and referral statistics as a percentage of total business volume.

This suggests good wholesaling websites, real estate blogs with sustainable SEO strategies, and automation for follow up and asking for referrals could help both agents and wholesalers quickly rise above much of the perceived local competition, while increasing net earnings.

Those on extremely tight budgets could find the web their best ally in getting more out of their marketing dollar.  Affiliate programs which generate referral income for everything from real estate books to recommending the best transactional funding lenders, can also be used to increase income and offset online marketing investments, all while increasing their value in the marketplace.

For those without the patience or desire to learn new technologies, summer interns, apprentices, and hiring young tech savvy freelancers on an as needed basis could provide a dramatic edge. Who knows, you may just discover the next manager to help you head up your real estate business so you can hit the beach or golf course, and simply collect the rewards of the infrastructure you have created.

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