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.
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA