Why Google will win the war – it is not even fighting!

Google will overcome the teething problems with its real estate proposition and disrupt the business models of property portals across the world.

Every single property portal in the world is wary of the Google Real Estate presence over the past few years and every single portal is scared of the effect Google will have on both their visitor numbers and there revenues.

Over the past year I have read a lot of articles (from portals, their newspapers or individual shareholders) demonstrating how Google’s entry into the market place has not or will not effect either their visitor numbers/revenues. Well they would say that wouldn’t they!

Google’s Effect

It is true so far that Google’s effect has been minimal, however Google has never stated it’s intention to kill off or mame any of the leading portals in the world in a time limited period! In fact, Google is focusing on getting as many listings into their systems as possible, forming new partnerships with various entities to help them get their listings into Google and finally continually refining their systems to make it easier for people to find the property they are looking for, then shoot them off to the originators website of that listing for complete property information.

Once Google has these three elements close to perfect, they can then think about a mass marketing campaign through, yes you guessed it, the most powerful online marketing tool on the planet – the Google Search Engine!

The two big differences Google has that others who have failed before them do not – is time and money!

Google’s mantra is to “Don’t be Evil”. Think about this, who are they going to upset with a successful assault on the property market? In the USA MLS providers? Come one, hardly anyone thinks they serve any purpose other than hanging on to a business model that expired in the early 90′s. Fee based real estate portals? Just about every real estate agent in the world rates their fee based real estate portal only slightly north of Saddam Hussein.

The free listing portals may need to adjust their business models, but specialized search engines like www.estately.com would probably welcome the success of Google!

All in all a Google success would mean current successful businesses will have to adjust their business models, evolve into new offerings, improve their practices and innovate – after all, isn’t that what capitalism is all about?

Everyone is in a rush to judge Google on their immediate impact. Real estate is just another business Google is involved in and they will take their time before marketing the product globally. Just don’t expect any of the incumbents real estate portals (many owned by news organisations) to rush out with a headlines promoting their competition, like ‘Google having an impact, revenue and visitor numbers plunge for xxxx.com’ )

The incumbents will always find a light for their own real estate businesses whilst shedding darkness on their competitors. This is the toughest thing for Google in real estate – getting the free headlines they attract in different markets (search, telephony, Internet). With property they are playing against many of the largest media companies in each country, which means fewer free promotions for their real estate services!

Google is a publicly traded company, it is a profit machine and there is no bigger game globally online for revenue than real estate. To be the number one real estate destination worldwide for property listings would be worth anywhere from $3 – 5 billion in additional revenues for Google, they just don’t realize it yet.

This is not to say Google needs to improve what they are doing and needs to form new partnerships to do this – it does! One area they can improve upon is rewarding individual agents for feeding their listings directly to Google by giving them the referral . At the moment it seems a bit of a lottery as to who gets the referral when a user clicks on a listing to see the full information. It should go to the originator of that listing – the person who signed the vendor. Not some portal or directory. This should not be that difficult!

Google also needs to acquire a few tools in the long run. I do believe Google will acquire a listing system/engine and offer it for free for agents and web developers/portals to hook into. In full disclosure, this is the very business I operate (www.zooproperty.com). However the reason I think they need to do this is because it gives them some control over the cycle of a property from listing to sales/rentals to sales/rental history, it also allows for them to know who the listing originates from.

If Google launched an open system that allowed agents to manage their listings and then distribute them across a variety of platforms they would get 90% of independent agents on board within a year. Every single portal in the world would join up to get feeds from that system and web developers globally would rejoice in finally having a system they can play with. Google will also be able to integrate Google Adwords, Adsense and other tools directly to developers and agents.

Also, never underestimate the power of the open web developer, one only has to think of the success of the Firefox browser to showcase how powerful the common web developer has become. If you build something that helps the web developer, the marketing power of that alone is enough to propel a product into the spotlight.

If Google take their time and work with agents, developers, portals and listing systems they will have an impact, it will come down to how much they control as to their next move, however once they start seeing the revenues flow in you can be sure Google will expand their presence.

If you are a real estate agent, you need to get all of your listings to Google, talk to your web developer, for them to build this into their system (if they already haven’t) should only take a few days.

You need to do this anyway, invest the time and you will be rewarded.

Note: A Version of this article first appeared on Global Edge UK.

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Google Real Estate will force the portals to embrace, open and innovate or die!

Slowly but surely Google Real Estate is making inroads into the Australian real estate market with the recent signing of LJ Hooker on top of most of the major players in real estate in Australia. It will take longer for all of the smaller independent agents to come onboard, however it is clear that this is the beginning of a new era and it is time REA and Domain stepped up to the plate and opened themselves up to the Google way of life!

Why? Because not doing so will slowly end their dominance and when the decline occurs it will be so fast that no maneuvering will make a difference.

Some may argue that Google Real Estate has not made a difference as yet, but these people live in complete denial and it will only be a matter of time before visitor numbers begin declining and Google Real Estate begins its upward March.

Remember, Google only has to get comparative data to make a difference. Google also have a far greater capacity to let people know about it than all other real estate portals in the world combined.

Recently a number of videos have been produced that well and truly show how serious Google is about maps and real estate.

Finding a house on Google Real Estate Maps

Here is one to showcase real estate listings throughout Australia

Here is one on how to refine your real estate search on Google Real Estate.

Real Estate API’s
Realestate.com.au and domain.com.au must open their databases up to the general public to create a whole new wave of web and mobile applications.

I have been pushing API’s with these portals for over 2 years and yet we still have nothing. Maybe Realestate.com.au’s big announcement will include an API?

What can an API do?
As an example any website would be able to carry listings through this API, so community websites, industry websites, councils, agents, even business2.com.au would be able to carry listings, sales data etc. Portals do not need agents permission as agents have signed away all rights to the data when they join these sites.

Signing up should be simple and approval rapid and it should be accompanied by rapidly evolving documentation and examples.

Boon for portals
One other thing we will see is innovation across the board, even things we have not even thought of will take us by surprise, but the biggest boon will be for the portals. It will extend their listings and sales data reach and allow that data to be ingrained across 10′s of thousands of websites across Australia and the world.

Versions
There should be two versions of the API, the free version which carries 3rd parties adverts from the portals and is a little limited and then a paid version that carries no advertising and allows the user to do whatever they want with the data!

Flow on
The flow on effect of this will flow across the industries to jobs, cars and classifieds.

Will this happen?
Don’t hold your breath, large organisations are slow at moving on these opportunities, usually waiting until it is too late. We are fast approaching a time where I think realestate.com.au and domain.com.au will start going backwards unless they really innovate with API’s.

One only has to look at the music industry and the movie industry to see how stubborn incumbents completely ruin their own industries by not embracing and innovating.

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You Lost Me At ‘Hello’

This article is ‘Part 3 of How to Get More From RealEstate.com.au Without Paying Extra Money.’

In Part 1 of this series, I covered how to get the best coverage for your agency within the Find An Agent Section settings and in Part 2 I discussed an important internet marketing strategy where you can improve the number of visits you can get to your listings.

In that article I also covered 3 simple internet marketing concepts, the first of which was ‘The Image Catches Their Eye’ which leads me to…

You Lost Me At ‘Hello’

Have you ever seen that part in the movie Jerry Maguire where Renee Zellweger says to Tom Cruise “You had me at Hello?” If not, here’s a quick snippet from the movie.

Well, with this phrase in mind, I can not stress how important it is to grab a buyer or sellers attention over the web, especially on realestate.com.au.

Ultimately, you want to aim to ‘Have them at hello too’ which means that they will continue to keep reading about your listing.

The ‘Hello’ part is so important over the web, because with a woman you have somewhere between 2 – 4 seconds to grab their attention, whereas for a male, it’s 5 – 7 seconds, yet unbelievably there are still a number of agents who are committing the cardinal sin on realestate.com.au.

What’s the cardinal sin on realestate.com.au?

I find it astounding in today’s world of digital photography, that some agents are still uploading their listings onto realestate.com.au without any images of the property at all.

What’s more, realestate.com.au don’t allow listings to be uploaded to their site unless their is an image & some agents actually go out of their way to upload a generic image instead, just to get the listing up onto the realestate.com.au site.

Some agents must be in such a hurry to get the property uploaded onto the web on a Friday afternoon, before the receptionist goes home, that they upload the listing without photos, without considering the damaging consequences.

Maybe the owner is super keen to have the property uploaded before the weekend, but uploading any listing onto realestate.com.au without photos of the property is a huge mistake.

The image is such a big attention grabber and having no image could actually put the ideal buyer off.

Plus, lots of potential sellers subscribe to email alerts and if they see a property that is poorly marketed by an agent then they could easily be put off from listing with that agent.

It’s the biggest database in Australian real estate – Use it.

REA has the biggest real estate database within Australia & they have hundreds of thousands of people who have subscribed to receive email alerts when new listings come onto the market within their chosen criteria.

Realestate.com.au include the first email notification via their email alert service at no extra cost to the agent. It’s part of the subscription fees & is a very affective part of an agent’s marketing strategy for matching properties to suitable buyers.

Now, if an agent uploads a listing without the property photos & wants to access the REA’s database to re-send the property details out with photos now uploaded, they have to pay (normally hundreds of dollars) to send out one of REA’s e-Brochures.

Even though you could always pay to re-send the property out to REA’s database via the e-Brochure in an attempt to try to rectify the initial mistake, you’ll never get a second chance to create that great first impression.

No matter what the circumstances, an agent should ‘never’ upload a listing onto realestate.com.au without photos of the property.

Quick Tip: To get the greatest exposure for your listing as it is emailed out as an email alert to the REA database, make sure you set your price guides within the admin section as far apart as you feel that you comfortably can without misrepresenting the price.

This will allow you to broaden your marketing out to potential buyers in a lower price range who may end up deciding to increase their spending range and/or market to buyers in a higher price bracket that may consider reducing the amount they want to spend on a property.

But, make sure you reset the price range within the system within the first week after the first email alert has been sent, as by this time you’ll probably have direct feedback from buyers and you should have an even better indication of the properties real price point in the market.

Obviously, use your common sense, sending an $800,000 listing to buyers with $300,000 to spend isn’t going to win you any friends.

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Google to buy up real estate sites!

When Google ventured into real estate listings many of us thought it would signal the end of annual fee increases being charged by the likes of realestate.com.au and domain.com.au. I mentioned how it will eventually force these organisations to change their business models and build simpler, smarter platforms and I still do!

Despite making it clear that it will take time, some industry heavies quickly began commenting on how little effect Google was having on sites like realestate.com.au with increased share prices /revenues traffic figures. The most vigorous of these was writing on just about every single notable real estate blog (including his own) how it wasn’t making a jot of difference, I thought at the time, it was pretty short sighted from a person who should know better!

I also made it clear that it will take time for Google’s impact to occur. Only when Google Real Estate has similar volumes of listings and only when they include the searchability of these listings directly within the search engine will it begin to have an impact on the majors.

Now it seems Google is stepping it up a gear……..is this an aggressive phase for Google?

During a session at the 2010 Inman Real Estate Connect conference in New York, Sam Sebastian, Google’s director of local and business-to-business markets, was quoted as saying “We’re actively looking to acquire one to two small real estate companies a month.”

Read this again………
“We’re actively looking to acquire one to two small real estate companies a month.” This statement speaks volumes of just how important Google thinks real estate is to their overall search strategy. It tells me they really do think it is one of the most popular search markets. Many people are talking of Google purchasing the likes of Trulia, Roost and some other independent companies. Personally, I think they will buy into products that compliment and drive traffic to their search and real estate website rather than buy other search engines and portals, they will also more than likely delve into products to compliment their Andriod operating system and new phone offerings.

Life without Realestate.com.au and Domain.com.au?
One thing is for sure, in a few years the real estate landscape will be completely different. Once Google has comparable listings and if it is confident it has a faster way to search then all that needs to happen is for consumers to become aware and use the systems and things will get tough for the portals.

Realestate.com.au and Domain.com.au continue to provide a decent service to agents, however it is the control that agents are wary of – no one likes having monopolies or duopolies, it only serves the few and each and every time hurts too many businesses and stifles innovation. Google’s involvement in any major industry allows a fair price to be charged for services, forces innovation and will make companies like Realestate.com.au and Domain.com.au offer better support and services for their money.

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How To Get More From RealEstate.com.au Without Paying Extra Money – Part 2

Before uploading your listings onto realestate.com.au, it’s important to look at what you are trying to achieve within each part of the site. Plus, it’s important to look at realestate.com.au from an internet marketing perspective, rather than simply uploading your listings and hoping.

With this in mind, this article takes a look at how agents could improve their results from the perspective of an internet marketer and achieve the best click-thru rate that they possibly can from realestate.com.au.

In the first article on ‘How to Get More From RealEstate.com.au Without Paying Extra Money’ I discussed the Find An Agent Section of the site, in today’s session we’ll look at how to get the best results out of the Search Results Pages of realestate.com.au

The Search Results Pages are that part of the site where someone does a search for property within your area and all your listings plus your competitors’ listings appear all together under an area search, price range search or both.

For example, here’s the Search Results Pages for a search on the suburb Balmain.  http://www.realestate.com.au/cgi-bin/rsearch?id=balmain&a=qfp&cu=fn-rea&t=res

Within the Search Results Pages of the realestate.com.au site, 10 listings are displayed per page, (except for the first page where the ‘Guaranteed Top Spot’ listing appears, to make it 11 listings).

When looking at how to market your listings effectively within the Search Results Pages, it’s important to learn 3 simple internet marketing concepts.

1.    The Image Catches Their Eye
2.    The Heading Grabs Their Attention
3.    The Text Makes The Sale

Now there are a lot of agents who write ads that may look alright on paper, but these ads don’t actually convert very well once they are uploaded onto the web.

Plus, normally the same ad that is placed in print is also used online, which means that typically the same AIDA method of advertising ends up being adopted onto the web.

A = Attention
I = Interest
D = Desire
A = Action

Whilst the AIDA method still works online, to get the most out of your advertising on realestate.com.au it’s important to use AIDA twice within the same advertisement.

You see, with a typical AIDA style advertisement the call to action is left at the very end of the copy, which ends up appearing on the Property Details Page.

On realestate.com.au it’s absolutely critical to capture Attention, create Interest, develop Desire and include a call to Action within the very first part of the advertisement, because this is what the majority of people will see within the Search Results Pages.

Now you may be thinking that’s too hard or even impossible. I can assure you it’s not, because when you look at what the first call to action really is, you’ll discover that your job as a marketer within the Search Results Pages is simply to ‘Sell The Click’.

That’s right! Your listing within these Search Results Pages of realestate.com.au is racked up side by side with 9 other listings (or 10 other listings in the first page ) and your strategy at this point should be simply to ‘Sell The Click’ because once the browser has clicked open your listing, that’s where all the magic happens.

At this point the browser has not only opened the Property Details Page but at this point…

• That’s when you get a visit registered against that listing

• It’s where the client can find out your contact details

• Where they can see how professionally you promote a property

• View videos, virtual tours, floor plans & see more photos, etc

• They can share the listing with their friends on Facebook

• Send you an email enquiry or email the listing to a friend

• Print out a brochure of your listing

• See how many visits the listing has had

• View a map, get local sales information & write a street review

• Gateway to them finding out more about you & your company

• And, if you use a strategy that I’ll be teaching in an upcoming article in this series, there’s a good chance that more people will end up clicking through to your company website as well.

But, none of this happens unless they click the red ‘View Property Details’ button in the Search Results Page & open up your listing.

Here’s How To ‘Sell The Click’

There are a number of ways that you can ‘Sell The Click’ from within the Search Results Pages.

Firstly, upload the best photo of the best part of the home as the main photo (or Hero Photo as some like to call it). The main photo should preferably be an interior photo or an enticing outdoor entertaining area photo.

By using internal images, you’ll stand a better chance of catching the browsers eye because people love looking inside other peoples places. Also, you’ll find that your listing will not only stand out from your competition, but browsers will also have a tendency to click open the listing to see what the front of the property looks like too.

Additionally, selecting the right main photo to use for your listings will also have an impact on the number of visits you generate from the new Gallery section within realestate.com.au.

In the new Gallery section 10 listings appear per page, displaying only an image, property address, price, icons for number of bed – bath – garage & a red “View Details” button.

Secondly, use a great headline, not the same old boring copy like ‘4 BR Home + Pool’ or ‘Don’t Miss This One’. Put some real thought into it.

Thirdly, remember what I said earlier, that “The Text Makes The Sale”. You’ve got approx. 300 characters to write some copy at the beginning of the advertisement that can help you to ‘Sell The Click’.

You’ll find that’s plenty of space to build Desire, Interest & include a call to Action.

Finally, you may not get this right the very first time & it may take some practice but that is the beauty of the internet, you can easily make changes as you go.

I hope this helps you to drive lots more traffic to your listings on realestate.com.au without costing you any extra money.

Back soon with the next instalment. Cheers. :)

PS: If you’re not great at writing short copy that converts well, try using Twitter where you only have 140 characters to ‘Sell The Click’ or seek out a professional copywriter for some help.

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