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Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
As the year draws to a close, thoughts begin to turn towards achievement: Have I met the goals I set for myself this year? How can I achieve more next year? We want to help you realize your ambitions and be the best version of yourself that you can be. In fact, that's been our theme for November's "Tips and Tricks Tuesday" series: "Be a Better Me." Here's a look at all the articles from this month's series, compiled in one convenient place: Protecting Your Identity for Free: A Quick and Easy Guide How to Build Better Real Estate Listings with Immersive Content 6 Steps I Follow to Be a Better Me 3 Reasons Modernized Listing Accessibility Can Drive Organic Growth We hope these articles were helpful to you. However, articles about productivity, goal setting and self improvement aren't published just one month per year — we post on this topic year-round! To help round out our self improvement-focused month, today we're sharing more resources that we've published over the years. Let's dive in… It's all in your mind(set) The journey to success begins within. Without the right mindset, it's much more difficult to meet the goals you've set for yourself. The good news is that you can begin to build that mindset today. Start by reading these articles about the skills and traits of highly successful real estate professionals. No matter how skilled one is, sometimes we all get in our own way. Learn about the five roadblocks getting in the way of your success and how to accentuate the positive when you're feeling down about your career (or the market). Feeling out of place in real estate? We know not everyone fits the outgoing, bubbly stereotype of the average agent. Introverts can thrive in this industry too! Learn more here: The Introverted Real Estate Agent's Guide to Networking. Finally, as we mentioned, success is a journey — a career-long one. Learn how to go the distance, courtesy of advice from Stu Mittleman's book Slow Burn, in 3 Strategies to Running Your Real Estate Business. Long-term growth is often brought about by small, incremental changes, as you'll see in 37 Times Better: The Long and Effective Way to Become a Better Agent and Grow Your Business. Productivity tips Part of being the best you is working smarter, not harder, so that you don't burn yourself out. To that end, we've compiled a list of productivity tips you can use to make the best use of your time: Why "single-tasking" is better than multi-tasking Achieving success while maintaining balance How to master your Gmail inbox Let AI lend a helping hand: 8 ChatGPT browser extensions From Gmail to Drive: 25 essential Google tips 3 Zoom tips to look 10x more professional Actionable advice A goal without a plan is just a wish — so to help make your goals a reality, seek out a plan of action to help you achieve what you want. Here are some ideas to get you started: 5 Morning Habits of the Most Successful Real Estate Professionals What You Need to Do Daily, Weekly, and Monthly to Be the Go-to Expert in Your Market 20 Daily Activities for Profitable Real Estate Agents 5 New Habits of Highly Effective Real Estate Agents 10 Ways to Stand Out in a High-Competition Market Part of being successful is making sure you've joined the right brokerage for you. For guidance, listen to this podcast episode. If you know it's time to move on from your current brokerage, let this 15-point checklist for switching brokerages guide you through the process. Technology plays a big part in making your business the best it can be. This article can help you find a technology solution that works for you. Need help or just want to learn how to use your tech tools better? See 5 Places to Find Tech Support. To keep everything working smoothly, check out these five ways to maintain all your tech systems and apps. Managing stress No matter how much you love your job, stress and burnout come for all of us eventually. These three tips can help you reduce your stress without losing business. Technology can help, too! There's an entire world of apps available to help you de-stress and regain your calm center. Find them here: 6 Ways You Can Use Technology to Reduce Your Stress. Finally, nothing helps beat burnout like a legit vacation. That's not always easy on an agent's demanding schedule — but it's possible. Just follow these 9 Expert Tips for a Worry-Free Vacation. Get motivated! We're going to wrap things up on an inspirational note. Check out these posts to get ready to take over the real estate world! Real Estate Motivation: 11 Success Mantras for Agents and Brokers 5 Quotes that Will Motivate You to Become the Most Successful Real Estate Agent Proverbs for the Real Estate Professional 49 Uplifting Real Estate Quotes That Will Inspire You to Be Great [Podcast] Setting Goals, Being Fearless and Keeping Focus with Tiffany Tanquary We wish you the best of luck and continued success as we wrap up this year and head into the next!
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Real AI: Unlocking real estate data, ChatGPT for real estate intel, 5 facts and AI headlines
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. Using AI to unlock real estate data Content creation continues to dominate how real estate professionals use AI. AI helps agents create better blogs, website content, flyers, social posts, listing descriptions, property photos, marketing ideas, business plans, video scripts, and more. Using AI to perfect content has become part of many real estate agents' workflow in one way or another. That's not going to change, but in fact, it will accelerate. However, while AI for content is huge, another AI use will have a far more significant impact on agent business today and tomorrow. It's still in its infancy, but using the power of all things AI to unlock real estate data will be massive and could completely alter how agents secure new business. AI lead gen A lot of early use of AI in real estate was lead gen related, then described as predictive analytics. Now, dozens of real estate proptech firms and top brokerages are using AI to identify who in your sphere of influence are most "likely to sell" and "likely to buy." Buyside, now Percy, was an early entry into this space. In June, tech-centric Compass integrated machine learning into its CRM to flag for its agents and clients who are "likely to sell." Localize uses an AI chatbot (Hunter) that engages leads and then alerts agent users when clients are ready to house hunt. All-in-one CRM-centric platforms like Delta Media's DeltaNET 7 are building in behavior tracking tools, leveling the playing field by making AI-powered tech more accessible to more agents. But all these efforts are still scratching the surface because machine learning will help all this tech get better and better. Once we identify why one person buys, it's easy to extrapolate to identify others not in our sphere nearby who are also likely to buy or sell. Much like the story Brad Inman told in 2016 about how Google was rending baby-related ads to his daughter before she found out she was pregnant, AI will empower agents to know when clients will buy or sell before their clients have fully embraced the idea. Vital to using this new tech is finding a way to eliminate what I call the LendingTree problem. When I first tested LendingTree in its early days, I input my data, and in minutes, I was deluged with mortgage lenders pitching me their business. It was a massive, overwhelming, horrible customer experience I would never repeat. If AI delivers to everyone with the same predictive analytics, what is the experience of the seller who is about to buy if they are overloaded with agent inquiries? Data-centric AI for advanced analytics On the bright side, one untapped superpower for real estate is AI's ability to take in disparate data, organize it, summarize it, and then recommend strategic courses of action. Real estate data is sprawling and often siloed, from market trends and demographic characteristics to what real estate clients have purchased and other client information. Data-centric AI thrives by rapidly consuming these diverse data sets and creating a cohesive 360-degree view of the market and your clients. The true power of AI lies in its ability to distill vast amounts of data into actionable insights. By summarizing complex data, AI can provide real estate professionals at every level with clear, strategic recommendations that can drive growth and innovation. More importantly, AI will help real estate pros identify trends early by analyzing patterns and predicting how the market will move, helping to make the right pivots ahead of the curve instead of behind it. Using ChatGPT 4 for real estate intelligence Most people don't realize it, but ChatGPT-4 can read PDFs and Excel files. It also can analyze and provide data from images. This is a window into tapping into advanced analytics, as ChatGPT is excellent at summarizing information. If you give it the proper prompts, it can create strategic recommendations based on this intelligence and provide other analyses, including charts and graphs. While the ChatGPT-4 interface itself does not directly interpret trends from data within PDFs or Excel files, it can use Python and its powerful libraries for data analysis. Employing Pandas and Matplotlib can help decode trends from the data contained in these files. ChatGPT explains here how it works: PDF Files: If you upload a PDF, ChatGPT can extract the text using Python's PDF libraries like PyPDF2 or PDFMiner. If the PDF contains data in a structured form, like tables, it can attempt to parse that data into a format suitable for analysis. Excel Files: If you upload an Excel file, ChatGPT can use Pandas to read the data and put it into a DataFrame. From there, it can perform various analyses to identify trends, including summary statistics, correlation analysis, and visualizations. Data Visualization: Once the data is extracted and structured, ChatGPT can create charts and graphs to visualize the trends using libraries like Matplotlib or Seaborn. You need to upload the PDF or Excel files to ChatGPT and ask it to write and execute Python code to analyze the data. Finally, ChatGPT warns that the effectiveness of trend analysis depends on the quality and structure of the data provided. Or, garbage in, garbage out. If this sounds ridiculously hard for most real estate pros, it probably is. However, there's a ChatGPT plugin or proptech firm ready to simplify this kind of invaluable real estate business intelligence, likely coming soon to an inbox near you. AI Five Fast Facts By 2025, AI might eliminate 85 million jobs but create 97 million new ones: that's a net gain of 12 million jobs. Nine out of 10 leading businesses have invested in AI technologies, but only 14.6% have deployed AI capabilities in their operations. Over 85% of AI users use the technology for article writing and content creation. More than two-thirds of modern consumers are open to AI enhancing customer engagement. 62% of voice search users prefer companies that offer a voice-activated AI assistant. Sources: Various as reported by Authority Hacker. AI Headlines Take 5 1. 6 ways real estate agents can use AI to become the ultimate authority | 11/21/23 - HousingWireHow AI can help agents set themselves apart from their competition. 2. Predictive AI tools to consider in 2023 | 6/5/23 - Boston Agent MagazineA look at how predictive AI tools can help real estate agents. 3. The Tech Trends That Will Shape the World in 2024 | 11/21/23 - TechnopediaGenerative AI is the key trend potentially reshaping how we play and work. 4. Differentiating AI Applications in the Mortgage Space | 11/20/23 - MReportHow generative AI will impact the mortgage industry (which overall is a lagger in deploying AI). 5. Scammers using artificial intelligence and social media to target holiday shoppers | 11/21/23 - CBSThe downside of AI: 'Tis the season for bad actors and it's more difficult to spot when you are being scammed.' Quote of the week To view the original article, visit the WAV Group blog.
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Dotloop Task Templates Best Practices
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Easy Hacks for Prospecting and Marketing Automation Success
Have you ever wished you could connect RPR (Realtors Property Resource®) to your CRM, or maybe directly to Canva for prospecting and farming? Well, we're not quite there yet, however there are a few things you can do to "hack" the system and be on your way to prospecting and automation success. Before we jump in, if you're just getting started in real estate or want to give your database a boost, be sure to check out this previous article: How to Build your Neighborhood Database From Scratch. Think of it as some prerequisite reading to this article. You'll get an understanding of what datasets are available to you from RPR and all the info you need on RPR's Mailing Labels. Now you have an understanding of how to set up your CRM and how you can export RPR Mailing Labels. Here's where we take it a step further, beyond pre-formatted labels and right into marketing automation territory: the ability to export raw data via a CSV export. In this article, we're going to take the next step and strategically filter for specific types of prospects. Automate your marketing and targets prospects with these "Recipes" Below are a few "recipes," based on real world scenarios, that you can use with the RPR Advanced Search feature to help you spot target prospects with ease. To drill down and identify Current Renters/Potential Homeowners, follow these steps: Step #1: Click "Research" Step #2: Click "Map Search" Step #3: Search your target area (hint: you can search as small as a neighborhood) Step #4: Click "More Filters" for advanced searching Step #5: Change the search to "Public Records" (you'll want to target less than 500) Step #6: Scroll down to "Miscellaneous Fields" and make sure "Absentee Owner" is selected Step #7: Make sure "Time Owned" is selected to the 5-10 and 10-15 year groupings Step #8: Click "Update and Search" Step #9: Click "Mailing Labels" Step #10: Select "CSV" Step #11: Make sure the "Address Type:" is "Property" Step #12: Change the "Addressed To:" field to "Current Resident" or to "Custom Name" and fill it out with something like "Future Homeowner" Step #13: Select "Absentee Owner" as the "Occupancy Type" Step #14: Run full list, or narrow records to export Target: Potential Home Sellers Follow steps 1-5 from above, then continue with: Step #6: Scroll down to "Miscellaneous Fields" and make sure "Owner Occupied" is selected Step #7: Make sure "Time Owned" is selected to the 5-10 and 10-15 year groupings Step #8: Click "Update and Search" Step #9: Click "Mailing Labels" Step #10: Select "CSV" Step #11: Make sure the "Address Type:" is "Property" Step #12: Change the "Addressed To:" field to "Owner Name" Step #13: Select "Owner Occupied" as the "Occupancy Type" Step #14: Run full list, or narrow records to export Need Help? Take a step-by-step guided tour of the two examples above. From here, you can take these lists and add additional columns to your sheet that would match your CRM (ie: "Status" and then set it to say "Prospect-Buyer" or "Prospect-Seller,") this can work with Google Sheets or your CRM of choice. If you're working with a CRM, instead of additional columns, when you're importing your contacts, simply apply flags or categories directly within your platform to help keep your contacts organized. But, let's not stop there, let's set up an automation that can do all of that for you… Making automations and RPR work for you The beauty of this workflow is the ability to essentially take this data right from RPR and apply it directly to your CRM or Google Sheets contact list. Then using preset triggers with tools such as IFTTT, Zapier and Canva, you can create a multitude of marketing automations that will cut down the manual labor of simple marketing tasks. In this next example, we're going to show you how to take the exports above and connect them directly to Canva to complete a postcard that you've prepped with the most current Market Trends Data and then print it with all of your prospect's data added to it. To get started, head over to RPR's Resource Center and choose a Canva postcard template that you'd like to work from. Be sure to select "Use template for new design" to get started. Next, add your photo and update your information for both sides of the postcard–you don't want to accidentally send your mailing out with filler text. Write a compelling introduction of yourself and why it's a good time to buy; better yet, read on and we'll show you how to let our Market Trends ScriptWriter powered by ChatGPT help you craft the perfect message! Before we add our contact data, let's update the Market Trends information with the latest stats. When you're in RPR, head up to Research, then click Residential Market Trends and search for the geography that you executed for your export. This ensures that the data matches the postcard template with the month and the correct data points. Now we're ready to add our prospect's info to the Canva doc! PRO TIP: Looking for the perfect copy to go with your postcard? Click "Create Script" to give our AI-powered Market Trends ScriptWriter a try. You can easily generate Metric Analyses and Social campaigns, and the copy generated can easily flow into to your postcard. From the left side navigation menu, go to "Apps," and go down to "More from Canva" and select "Bulk create." Maybe in the future, there'll be a "Bulk create from RPR," but for now, select "Bulk create." You essentially have two options here, you can manually enter your data or upload a CSV file. Let's click "Upload CSV" select your list, and all of your fields will be listed by the column headers. PRO TIP: Before you upload your list, open it up and delete any extra fields that you think won't be necessary. Since we are prospecting to potential buyers, we won't be needing the owner's information that by default comes with the export. Next, we're going to connect our data to text fields. So, add a few text fields to the backside of the postcard template. For the greeting, make it fun, since you don't know the person who is renting the property, you could address it to "Future Homeowner." For the next text field, right click it and select "Connect Data." Canva will then present you the list of all your data fields, select "Property Full Address," or whichever combination of fields that you need to complete your mailing. After you have set up your data and added all of your personal information and market data, click "Continue." This will take your data and merge it into a new Canva Doc that you can now send out for print. Pretty cool, huh?! To view the original article, visit the RPR blog.
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Recapping NAR NXT 2023: Key takeaways and helpful highlights
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Top 5 Tech Gifts to Buy Yourself
As the gift season is approaching, it's important to note that technology has become omnipresent in our daily personal and professional lives. Given this, many of today's gadgets promise to improve efficiency, be fun, and help your well-being. Here are five top tech gifts for self-indulgence that can help elevate your game, save time, protect you from wasting time, capture fun and memorable moments, and maybe even save your life! 1. AI tech A subscription to ChatGPT 4 will cost you about $240 a year, or $20 a month, but for agents who use this online tech tool – also available in a smartphone app version – it will more than pay for itself by saving you time when you use it to draft content. If you are looking for an AI image creation tool, DALL-E 3 can be fun and will soon be part of ChatGPT for subscribers, but Canva's new built-in AI tool is impressive and easier to use for image and graphic promotional material creation. Canva Pro is $119.99 a year. Other options: Google offers Bard as its ChatGPT competitor, and other subscription-based content creation tools use ChatGPT and other AI tools to create content, including Jasper, Writesonic and Ink. 2. Laser Measurement Not too long ago, laser measuring devices were priced north of $200, but accuracy has increased, and prices have dropped. Amazon's best-selling laser measuring device (RockSeed 165 Feet Digital Laser Distance Meter with 2 Bubble Levels) is less than $30. While many smartphones have built-in measuring capabilities, these devices were built to measure, are far easier to use and highly precise. You can measure any room within 1/16th of an inch in accuracy. It is more compact – fitting in the palm of your hand – and can be used to measure indoors or outdoors. These devices can assist with more accurate square footage measurements. Place the device at one end on the wall and push a button, and the laser light dot shows on the opposite wall, displaying the distance instantly. It sure beats a tape measure! 3. AirTags If you have an iPhone, this is a great gift to give yourself to protect valuable items and locate things quickly that you commonly misplace. AirTags are small tracking devices from Apple that use Bluetooth technology to communicate their location to nearby Apple devices. When you attach an AirTag to something, you can use the Find My app on your iPhone, iPad, or Mac to see the item's location on a map. If you lose it, the Find My network can help track it down securely and privately. Additionally, you can have the AirTag play a sound to help locate it if it's nearby. Place one in your purse or briefcase, your luggage when traveling, even your car (ever forget where you parked?). Most importantly, you'll never misplace your keys again! AirTags are $29 or less at Apple.com and are often on sale at Amazon and other retailers. Other options: Android is planning on releasing a similar device, but there are alternatives like the Tile Pro ($35), which works with Apple or Android mobile devices, but these are short-range only devices (~ 400 feet max). 4. Ray-Ban Meta Smart Glasses AI wearables will be the hot tech trend in 2024. Just $299 (available Oct 23) delivers the newest "cool" tech by Ray-Ban and Meta. Google Glasses may have flopped, but these smart glasses are almost undetectable from the standard Ray-Ban frames. Features include a built-in, ultra-wide 12 MP camera with a five-mic system. Open-ear speakers deliver clear, rich sound even in noisy and windy conditions – without others being able to hear. Say "Hey Meta" to get your desired answers via Bluetooth connection to your smartphone. Voice commands and AI allow you to call and message, and a single touch on the side allows some manual control. The case the glasses come with recharges your smart glasses. And because Ray-Ban has partnered with Meta (Facebook and Instagram), sharing videos and photos you create with your glasses or even streaming live will be fast and easy. 5. Heart-Healthy Tech Help protect yourself with wearable technology that has already saved lives. Since Apple Watch 4, owners can take an electrocardiogram (also called an ECG or EKG), the test that records the timing and strength of the electrical signals that make the heartbeat. Using the ECG app and built-in heart sensor, an Apple Watch can record heartbeat and rhythm and then check the recording for AFib or atrial fibrillation, a type of irregular rhythm. Apple Watch starts from $399 at Apple.com. Cell providers and other major retailers often offer discounts. Other options: New Samsung Galaxy Watch6 offers similar features from $299, and as you may have seen on TV, KardiaMobile offers an EKG on the go device that synchs with most smartphones to provide "medical grade EKGs in 30 seconds" with a list price of $99 but often available at Amazon for $79. Final Note on Tech Gifts These hot tech tools you should buy for yourself blend work with wellness and whimsy. They can give you more personal time and help you do things faster, smarter, and better. If you need help with your new technology, reach out to a Tech Helpline analyst, available by chat on our app (Apple or Google) and always just an email or phone call away! Related Posts 6 New Cutting-Edge iPhone Features are Coming Soon to iOS 17 5 Things Every Agent Needs to Know about 5G 4 questions to always ask to pick the best technology for work To view the original article, visit the Tech Helpline blog.
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How Real Estate Agents Can Build a Professional Network on LinkedIn
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RPR for New NAR Members: The Complete Beginner Series
Five dates, from Nov. 29 - Dec. 13 We know that there are many new challenges to getting started and growing your business. And RPR is here to help. As a REALTOR®, you have access to RPR, an essential tool for every member. RPR is included in your membership dues so there are no extra fees to access the platform. We'll show you how to create an RPR account and ensure your account is properly set up. RPR provides data, tools and property reports to help you get your business up and running. Here's an overview of what you'll find in RPR: Residential and Commercial Property Information Public record and MLS data Pricing and Prospecting Tools Market Analysis Tools Neighborhood information, school data, and walkability and livability scores Shareable Templated Reports for clients and customers In this brief 30-minute session, we'll provide you a high level overview of the RPR platform. You won't be disappointed! Register now!
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6 Steps I Follow to Be a Better Me
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[Podcast] Tools and Tech for Working with Mature Clients with Ali Whitley
Everyone is adapting to the technology they need, in their work and life. We want you to have the best tools that will benefit you and your clients. In this episode, Ali Whitley discusses working with our mature clients. The Seniors Real Estate Specialist® Designation (SRES®) is an amazing class that the Center for REALTOR® Development offers. This class discusses things you need to know. We discuss the technicalities of senior living, reverse mortgages, estates, taxes, and more. We also discuss helping our mature clients get established in communities and be connected in the ways that help them best. Thanks for joining us! Tweetables "A person of the same age could be in a very different lifestyle than another person. It really depends on your activity level, your health level; how you really feel about yourself, and your ability to have activity." — Ali Whitley "Maybe someone had a real interest in something particular and their job took them in a different direction. Now, as they're retiring, they can start to take those classes that they thought that they would enjoy." — Ali Whitley "As REALTORS®, we need to help clients across any technology abilities and we need to know where they are and meet them there and see if we can help to encourage new technology within their transactions." — Ali Whitley "They can see your smiling face on the video or they get to meet you in person and they get a feel for who you are, and then later, if … you're sending a text, or you're sending something through email, now they can put your face to it." — Ali Whitley Guest Bio Ali Whitley is an active Residential Real Estate Agent and Director of Education at RE/MAX Crossroads. In addition to guiding buyer and seller clients through successful transactions, Ali is passionate about professional development and education. A skilled negotiator and experienced REALTOR® for over 26 years, she shares this expertise and empowers fellow agents as an educator and mentor, and as an instructor of Designations and Certifications. Ali is active in local, state, and national REALTOR® associations, currently serving as President-Elect of Ohio REALTORS®, NAR Director and Chair of the Emerging Business and Technology Forum. She has been recognized as AABOR REALTOR® of the Year and as a "Woman of Note" by Crain's Cleveland Business. Ali is committed to excellence, fostering an inclusive environment focused on sharing strategies for growth and success. NAR Resource Links Seniors Real Estate Specialist® (SRES®) Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse! Crdpodcast.REALTOR Learning.REALTOR — for NAR Online Education Training4RE.com — List of Classroom Courses from NAR and its affiliates CRD.REALTOR — List of all courses offered Visit the episode homepage for show notes and more detail.
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Social Media for Agents: Facebook, Instagram and Twitter
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Real AI: AI Turbo-powered, new AI research and top AI headlines
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. GPT-4 Turbo: What real estate pros need to know Microsoft-backed OpenAI, the creators of ChatGPT, during its first in-person developer event, launched a more powerful AI model dubbed GPT-4 Turbo, currently in Beta, among other advances. What will these AI improvements do? GPT-4 Turbo is said to be a smarter model than ChatGPT-4. It will let even non-coders create personalized versions of ChatGPT for individual use. Its answers are based on a new knowledge cutoff date of April 2023. It can handle up to about 300 pages of content – or 100,000 words – in a single prompt, vastly expanding the capabilities of current versions of ChatGPT. For developers, the cost is 2-3x cheaper. GPT-4 with Vision supports DALLE-3 and Text-to-Speech (TTS), which are all now in the API, meaning it can accept an image as part of a prompt and provide an appropriate textual response, generate images, and it can be spoken to and then respond using its voice. Oh, and there are six different voices you can choose to hear its answers. OpenAI also announced its significantly improved speech recognition model called Whisper V3, which can handle dozens of languages. Why is it important? We are already seeing the impact of computer vision on real estate as nearly the entire MLS platform is integrating with industry leader Restb.ai. If you haven't seen the Restb.ai video showing how an ADA and Fair Housing-compliant entire property listing can be completely generated immediately after the agent uploads the property photos into their MLS, click here. You will see in real-time a concrete example of how computer vision will make life as an agent easier and more productive. But this is only the beginning of extracting data and intelligence from images. The new GPT-4 Turbo with Vision demonstrations shows how incredible its AI is in instantly identifying individual items inside a photo and explaining what they are. Check out this video on X from Robert Lukoshko to see what we mean. Creating your own GPT is a breakthrough previously reserved for enterprise clients and developers. Open AI now claims, "Creating one is as easy as starting a conversation, giving it instructions and extra knowledge, and picking what it can do, like searching the web, making images or analyzing data." In terms of AI-powered multi-lingual tools, these might empower more potential non-English speaking home buyers to become more educated and knowledgeable about the real estate market and the benefits of homeownership. These new tools could also enhance agents' communications and outreach capabilities. The biggest takeaway is the OpenAI announcement showing the direction AI is going (and we've been forecasting): better TTS. Having to type in prompts in an AI world makes absolutely no sense. We can talk to Siri, Google Nest, and Alexa, but we need to speak to ChatGPT. Finally, CNBC noted that OpenAI offered its own guardrails for AI, saying it will step in and defend customers and "pay the costs incurred if you face legal claims around copyright infringement," echoing what Google, Microsoft, and Adobe have said. AI Five Fast Facts Survey of 216 college professors from 67 of the top 100 US computer science programs: 56% of computer science professors at top US research universities surveyed described the corporate leaders as "extremely disingenuous" or "somewhat disingenuous" in their calls for regulation of AI. One in four believe AI will become so advanced at medical diagnoses that it will generally outperform doctors. 85% of survey respondents said AI can be at least somewhat effective in predicting criminal behavior, but only 9% said it can be highly effective. 62% said that misinformation is the biggest challenge in maintaining the credibility and authenticity of news in an environment that includes AI-generated articles. 95% of those assessed described AI's current deepfake capabilities as "advanced" when it comes to video and audio content. Source: Axios, Nov. 8, 2023, with Generation Labs and Syracuse University. AI Headlines Take 5 1. YouTube creators will soon have to disclose the use of gen AI in videos or risk suspension | Associated Press - 11/14/23YouTube's updated policy will allow the removal of AI-generated video that simulates a person's voice. 2. 5 Steps Your Business Needs to Take to Build a Responsible AI Program | Inc. - 11/14/23Maximizing the use of AI is essential, but so is taking precautions for any AI pitfalls. 3. How the Real Estate Industry Can Effectively Leverage AI | Urban Land Magazine - 11/13/23Maurice Conti pines on the impact of generative AI in real estate development. (Requires ULI Guest Account signup.) 4. LinkedIn Introduces New AI-powered Premium Experience | Inman - 11/1/23Are you looking for a reason to pay LinkedIn? Premium users now get access to an AI job coach to assist with job hunting, including answering questions about a company's hiring process and helping determine if they'd be a good fit. 5. How to Use ChatGPT to Plan Your Winter Travel | Kimpton Hotels - 10/8/23Yes, this is a self-interested post, but it offers solid ideas on how to use ChatGPT as a travel planner assistant. Quote of the week To view the original article, visit the WAV Group blog.
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Strategic Partnerships in Real Estate: The benefits of collaborating with renovation experts
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We Asked 6 AI Bots to Recommend a Realtor. Here's What Happened
ChatGPT hit the scene in a big way this year, and ever since, people have been asking it all sorts of things — everything from explaining complex topics to home maintenance tips to recommendations for books or movies. That got us thinking — what happens when someone asks ChatGPT (or similar AI models) to recommend a real estate agent to them? And is this a marketing channel that agents should start thinking about? To find out, we asked six AI chatbots the same question: I'd like to buy a house in San Luis Obispo county. Can you recommend Realtors to me? Here's what we found. ChatGPT We started with the most well-known chatbot, ChatGPT. And, well, we struck out. Here's the answer we received: I'm sorry, but I don't have real-time access to databases or the internet, so I can't provide specific recommendations for real estate agents or Realtors. However, I can offer some general advice on how to find a good Realtor in San Luis Obispo County or any other area… We got the same exact response — to the letter — from Poe by Quora, which uses OpenAI's dataset. OpenAI owns ChatGPT, so we're not completely surprised by the similar answers. Fortunately, those two chatbots are the only two on our list without real-time access to the internet. That means our journey is about to get a lot more interesting… Bard Google's Bard chatbot harnesses the power of Google search, but it has yet to attain the same popularity as ChatGPT. However, of all the AIs, it gave us the most complete response. Not only did it provide a photo for each of the five agents it recommended, but also a link — three from LinkedIn, one Realtor.com agent profile, and one agent website, underlining the importance of maintaining a strong online presence. Bing Bing, the Microsoft-owned search engine, now offers an AI-assisted search option. When we asked it to recommend an agent, it offered a succinct list of five options. Only one was a real estate agent, however. The four other suggestions were brokerages, which may indicate that brokerages in our area have more time and budget to invest in their web presence than local agents. Interestingly, Bing provided a link and an example of a current listing for each suggestion. None of the links, though, directed us to that listing or even to the brokerage's or agent's website. Instead, each link sent us to a generic Realtor.com property search for our area. In order to contact any of the listed real estate pros, we'd have to Google (lol, sorry, Bing) them ourselves. Also, every link featured an ad above it, which was far easier to click on than the actual link. So if you're looking for a new place to advertise, perhaps buying ads for similar queries on Bing is worthwhile, especially for brokerages or teams — or for agents who don't have yet a strong enough online presence to be selected for an AI recommendation. ClaudeAI ClaudeAI, which was founded by OpenAI alumni and has investors in Google and Amazon, offered the most straightforward answer. It gave us plain text with no links or images, and a bit of homespun (lab-spun?) advice for finding an agent. Thanks, Claude. Perplexity AI Perplexity AI offered up five suggestions, only three of which were actual real estate pros — one agent, one real estate team, and one brokerage. The other two answers were websites (FastExpert.com and US News) that simply list agents in our area. Not exactly a recommendation — more like a recommendation to a place that kinda-sorta offers recommendations. Thanks, but no thanks. Let's disregard those two suggestions and look at the actual working professionals that Perplexity recommends. Each response comes with a link, but none of those go to an agent or company website. Instead, two links went to a broad search for local agents on Yelp, and one went — somewhat oddly — to this page on Google Maps. To finish things off, Perplexity threw in some random listing photos from the aforementioned sites for good measure. So What Did We Learn? Like most things related to AI chatbots, it's a work in progress. While we don't yet know if or when consumers will rely on chatbots to find a Realtor, agents who wish to prepare for that scenario should invest effort in ensuring their business can be found across a wide array of places online. Here is a list of actions to take, based on where the chatbots we queried pulled information from: Realtor.com links were very popular with the chatbots we surveyed. Make sure you have a complete agent profile there, including contact info and client testimonials. While no Zillow, Trulia, or Homes.com links were offered this time, tend to your profiles there, too, as there's no telling when a tweak to chatbot technology will change things. Claim your Yelp page, if you haven't yet done so, as some chatbots reference this site. LinkedIn was a major recommendation source for Bard, and was the only social media site consulted by the bot. Make sure your profile there is complete, and optimize it for SEO to increase the likelihood of being found. Make it a habit to ask for reviews from clients. Perplexity AI specifically mentioned that each of the real estate pros it recommended were highly rated. It also referenced Yelp, while both Bing and Bard pulled information from Realtor.com. Try to get as many reviews as you can in as many places as you can: portals, Google, Yelp, your website, etc. Make it a long-term goal to establish your agent website as a local real estate source. The one agent website that was linked to in this experiment belongs to a local Realtor who has spent considerable time and effort into building his site as an authority. He offers market updates, a podcast, resources for each community he serves, customer reviews, and more. Regularly update your site with quality content, and link to it anywhere you can: social media, portal profiles, your email signature, marketing materials, and more. Essentially, the key to being recommended by AI is having a broad internet presence. We can't be sure of where it will pull information, especially as the technology is updated, so having a well-maintained online presence seems crucial to catching the attention of AI. But don't stress too much about it. After all, the number one way consumers find their agent is still satisfyingly old-fashioned — by asking family and friends. Related Reading The Power of Local SEO for Real Estate Agents: 7 Ways to Optimize Your Online Presence 6 Expert Tips to Dominate the Online Real Estate Market as an Agent Influencer Approved: 6 Game-Changing ChatGPT Prompts for REALTORS
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How Are Buyers and Sellers Finding Agents in 2023?
When it comes to hiring a real estate agent, there are typically hundreds, if not thousands, of options for consumers to tap. The difficulty of finding a qualified and experienced agent who's familiar with certain types of transactions can be a big challenge for consumers, which is one reason why referral programs and search portals have become so popular (and lucrative). How are buyers and sellers finding their agents in 2023? The latest Profile of Home Buyers and Sellers from the National Association of REALTORS® (NAR) sheds some light on the situation. Where Are Buyers Finding Their Agents? Would it surprise you to learn that a maximum of 14% of homebuyers find their real estate agent through a search portal? According to NAR, that's the reality of the situation. The report indicates that direct referrals (from a friend, a family member, or neighbor) are how the largest proportion of buyers (43%) find their buyer's agent. Repeat business is the second-most-popular way that agents connect with buyers: 13% of homebuyers who responded to the survey said their agent was one they'd worked with in the past. Only 7% of homebuyers found their agent when they inquired about a specific property online. And another 7% of buyers found their agent through a website with no specific reference (such as a specific property listing). The survey doesn't differentiate between leads generated by a broker or agent website and leads generated by a search portal. It's unlikely that the full 14% of buyers who found their agents online are using portals, but it's also impossible to tell how those leads break down between portals and websites managed by a real estate professional. Where Are Sellers Finding Their Agents? Just like buyers, the largest proportion of sellers find their agent through a referral from a personal connection: a friend, a family member, a neighbor. This described 39% of sellers queried for the NAR report, 43% if you include agent and broker referrals, and 44% if you add in employer or relocation company referrals. And just like buyers, repeat business was also an important way that sellers chose their agent: 26% of sellers used the same agent as they had for a previous transaction. Sellers seemed to have more direct in-person contact with their prospective agents than buyers did. While buyers seemed to restrict their search for an agent to referrals and the internet, a total of 10% sellers reported finding agents by way of: Personal contact by agent: 4% Visiting an open house and meeting agent: 3% Direct mail: 2% Walking into an office and the agent was on duty: 1% Sellers also seem more likely to leverage social media than buyers. A total of 5% of sellers found their agent on an (undefined) website, and they also reported finding agents through social media (2% total). A small number of sellers (3% total) said they found an agent through outlets like the Yellow Pages, for-sale and open-house signs, or through some kind of swag-based advertising campaign (such as a fridge magnet or a calendar). What's missing from your own campaigns to attract buyers and sellers? Are you tapping into referrals as much as you could be? Or leveraging your website and social media platforms? If your business plan for 2024 was to pour more money into search portals, it might be time to rethink that strategy. Related Reading 10 Things to Do When you Receive a Referral How Do Real Estate Agents Get Listings?
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Movin' on Up: 15-Point Checklist for Switching Real Estate Brokerages
Has your current brokerage lost some of its shine? Maybe the commission split is lackluster, or the company doesn't offer the resources you need, or maybe its goals no longer align with your own. Whatever the case, part of career growth is recognizing when you've grown beyond your current situation. But switching brokerages can be an involved process with multiple steps. To make it easier for you to move on to bigger and better things, we've put together this handy checklist of tasks you need to complete when you change real estate firms. Before Switching Review your current contract. Before you make the leap, carefully review your contract with your current brokerage so you don't make a misstep that could cost you. Make note of any clauses related to commissions or notice periods. Collect your contacts and any personal marketing materials. Once you give notice to your current firm, you may find yourself immediately cut off from email and the company's contact database. Before giving notice, export your contacts from your current brokerage's email and CRM systems. Make sure you are compliant with data protection and confidentiality regulations first, however. The Switch Inform your current brokerage of your intention to leave, adhering to the notice period specified in your contract. Transfer your license. Contact your local real estate regulatory authority to transfer your license to the new brokerage. This can be done online in some states. Complete any necessary paperwork and pay the required fees. Notify your MLS and local association that you will be switching your license to another real estate brokerage. Sign a new independent contractor agreement with the brokerage you'll be switching to. Obtain Errors and Omissions (E&O) insurance. Be sure you have the necessary E&O insurance coverage with your new brokerage. This includes understanding coverage details and any associated costs. Steps to Take at Your New Brokerage Set up a new email and agent profile/website. Whether or not you maintain your own, non-brokerage related email and website, you'll likely still need to sign up for an email address at your new company in order to log-in to the firm's systems and programs. If your brokerage offers agent websites and/or profiles, take advantage of that too, even if you already have your own — the more places to market your services, the better! Create logins for all of your new brokerage apps and resources. Attend training and orientation sessions. Set yourself up for success by participating in any training or orientation sessions offered. If these aren't available, set aside time to familiarize yourself with the tools, software, and systems used by the new brokerage. Sign up for training webinars offered by the software vendors your new firm uses. Import your contacts into your new email and CRM system. Remember all those contacts you exported from your old brokerage? Time to set them up in your new apps. Update your marketing materials. Revise your business cards, website, and any marketing materials to reflect your new brokerage affiliation. Bonus points if you decide to get new headshots (hey, this is a great time for rebranding, right?). Order yard signs for all the new listings that are bound to come your way at your new brokerage. Update your mailing address wherever it appears on documents, contracts, agreements, etc. Make sure you also update these items with your brokerage's name and info wherever it's relevant. Inform your clients and contacts. Now that you've got all the fussy administrative tasks out of the way, it's time for the fun stuff. Let your clients and sphere of influence know about your move to the new brokerage. You can do this via direct mail, email, social media, digital ads — or even via phone calls to your top clients. This mini-marketing blitz is a great reason to reach out, start new conversations, and ensure you remain top-of-mind with clients and prospects. Tips to Make Future Transitions Smoother As we mentioned, it's not uncommon for your previous brokerage to cut off access to any email address, website, or CRM system when you give your notice. That's why we recommend purchasing a website domain name to set up your own website and email address rather than relying on brokerage-provided options. Why? Because a website you personally own is under your control and cannot be turned off when you change brokerages. This helps you maintain brand consistency and ensures no important opportunities or messages are lost when switching brokerages. Your website provider can help you set up email, or you can use Google Workspace to manage your business email. Not sure where to get started? Explore website vendors in our Product Directory. Unless your new brokerage requires that you use their CRM, we recommend subscribing to and setting up a CRM that you control. That way, you never have to leave your valuable contacts behind when you change brokerages next. Find a CRM solution in our Product Directory.
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The Evolution of Pre-Sale Renovations: How the industry has changed over the past decade
Over the last decade, the landscape of pre-sale home renovations has undergone a transformation as significant as the shift from looking at a printed MLS book of homes listed for sale to searching for a home on your phone. Just 10 years ago, the notion of pre-sale renovations was a hands-on, do-it-yourself affair, with homeowners deep cleaning and painting, determined to add a layer of polish before planting the "For Sale" sign in their yards. It was a grassroots approach, often complemented by the resourcefulness of forward-thinking real estate agents, that laid the groundwork for a revolution in the home-selling process. This transition from a do-it-yourself ethos to a more sophisticated, turnkey service approach has significantly altered how modern real estate agents help homeowners prepare their properties for the market today. Early days: The hands-on approach In the early 2010s, the real estate industry's approach to pre-sale renovations was heavily reliant on the homeowner's initiative and investment. Investment-minded sellers would venture into substantial improvements, undertaking projects that ranged from kitchen remodels to adding a bathroom. Yet these efforts required not just financial outlay but also the orchestration of various contractors, from plumbers to electricians, when a homeowner was undertaking a home transformation. The rise of agent-driven enhancements During this time, some innovative real estate agents began to recognize the enormous value that pre-sale enhancements could bring to the closing table. These agents, with a keen eye for a property's potential, began offering to manage cosmetic improvements as part of their services. These agents coordinate for homeowners everything from deep cleaning services to providing professional staging. These services were then seamlessly integrated into the seller's closing costs, providing them the advantage of upfront funding, reimbursed to the agent upon sale. Industry revolution: The emergence of Concierge services The true paradigm shift began in October 2018, when Compass, a rapidly expanding brokerage firm, introduced its groundbreaking "Compass Concierge program." This initiative significantly departed from the status quo by offering home sellers comprehensive pre-sale cleaning and improvement services without any upfront costs. The only requirement was an exclusive listing agreement with Compass. While other brokerage firms like Redfin had dabbled in similar programs, their offerings were restricted to a limited number of markets. Compass Concierge, on the other hand, was a first-of-its-kind, wide-reaching service available in every one of the 22 major markets it then served. The move by Compass marked a significant shift towards a more homeowner-friendly model. Startups paving the way Following in Compass's pioneering footsteps, 2019 saw the emergence of specialized startups like Revive Real Estate. These companies dedicated themselves to refining and expanding the concept of home improvement services. The difference? Pre-sale renovation firms provided access to a network of vetted, high-quality contractors or, in some cases, offered their own contracting services. By providing centralized budgeting, design, and project management, homeowners could experience a streamlined, hands-off renovation experience. For the first time, there was no cap on the extent of the renovations; the scale of the work was solely based on the projected return on investment and the agreed-upon budget plan between the renovation firm and the homeowner. Pre-sale renovation services become a standard option Today's pre-sale renovation firms have taken the concept to the next level. By covering all renovation expenses upfront, homeowners are freed from a potentially daunting financial burden. Now, the seller's journey to market is smoother and more strategic than ever, with no initial financial outlay from the homeowner. Once the home sells, the investment in renovations is recouped by the pre-sale renovation firm at closing. Why do agents recommend homeowners use a pre-sale renovation firm? In today's real estate market, the strategic advantage lies with modern real estate agents who embrace innovation. These agents know that instead of rushing to list a home for sale, they can help their sellers unlock the hidden value within their homes. Among the specific benefits that a pre-sale renovation firm can provide include: Enhancing home value through professional expertise Using a pre-sale renovation firm brings the insight of professional designers and contractors to maximize the appeal and, consequently, the value of their property. These experts apply their knowledge of current local market trends and local buyer preferences to ensure that renovations will yield the highest return on investment. They can pinpoint which upgrades will add the most value, from kitchen remodels, bathroom tiling to flooring remodels, ensuring that every dollar spent is strategically invested. Strategic financial planning with no upfront costs One of the most important benefits to many homeowners is the financial flexibility a pre-sale renovation firm offers. Homeowners no longer bear upfront costs, worrying about what investments to liquidate, as the renovation firms cover all these expenses. This often allows for more comprehensive upgrades that might have been financially prohibitive. Because the payment for the improvements is deferred until the home sells, this alleviates any immediate financial pressure a homeowner would otherwise experience. Market-ready homes are more desirable Professionally renovated homes tend to sell faster as they are desirable to more buyers. Moreover, pre-sale renovation firms use market data and even artificial intelligence tools to align renovations with what's selling. This reduces the time a property spends on the market. A home that's been professionally updated and staged will often have a more immediate appeal to more potential buyers – especially Millennials who want move-in ready homes – and that leads to quicker sales. Reduced stress and time commitment for homeowners The renovation process can be overwhelming, with homeowners juggling multiple contractors and timelines. Pre-sale renovation services simplify this by managing the entire project, from initial design concepts to the final touches. The convenience factor cannot be overstated: a turnkey approach minimizes the homeowner's involvement, saving them time and shielding them from the stress of day-to-day project management. Higher quality improvements Because the top pre-sale renovation firms only work with vetted, professional contractors, homeowners can be assured of high-quality results. Moreover, established pre-sale renovation companies stand by their work, often offering guarantees or warranties. This assurance means that the work will not only be completed to a high standard but will endure. Attractive and competitive property listings A home with professional renovations will have a competitive edge in the market. These properties stand out in listings because of their newly updated features. The better a listing looks online, the more interest it can generate, leading to more in-person visits and, potentially, competitive bidding among potential buyers. Customization to maximize profit By tailoring their services to the unique aspects of each property, a pre-sale renovation firm ensures that the improvements made align with the homeowner's goals and the property's potential in its local market. This customized approach maximizes the likelihood of a profitable sale, as renovations are specifically designed to enhance the most valuable selling points of the home. Home improvement has come a long way What was once a patchwork of DIY efforts has evolved into a streamlined, digitally managed symphony of strategic improvements. Moving from the manual to the automated, pre-sale renovation is fueling a monumental shift in how homeowners today prepare their properties for the market with an eye on maximizing their home's value while minimizing their hassle. What a pre-sale renovation path offers a homeowner is creating a more attractive home that appeals to buyers and sells quickly, with less effort and stress for the seller, and financial benefits that make strategic sense – and results in helping homeowners create more wealth. Learn more about pre-sale renovations at revive.realestate/company/education. Jessica Morrow, a seasoned real estate veteran, is Revive Real Estate Head of Operations. Revive's mission is to guide home sellers through presale renovations without upfront costs. Working with Revive, home sellers gain an average of $186,000 in additional profit when selling their homes.   Thank you to Revive for sponsoring this article on RE Technology!
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Real AI: AI and driverless cars (or not), AI fast facts and top AI headlines
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. AI and driverless cars: Is AI failing the trust test? Cruise, the autonomous taxi firm backed by GM, is in trouble, The Hustle reports. This is despite the announcement by GM a couple of weeks ago that it is partnering with Honda to launch its robotaxi service in Japan by 2026. Cruise also plans to expand into 12 more US markets. Real estate agents have been hopeful that driverless cars could someday handle open house tours and buyer showings. Based on various media reports, those days seem much farther in the future. In GM's recent news release announcing the Japan expansion, the first sentence says, "We're marching toward a future with zero crashes, zero emissions, and zero congestion." Zero crashes? The Hustle shares these numbers and reports: Cruise was involved in 261 incidents from April 2022 to April 2023. Waymo, another autonomous taxi firm and sister company to Google, recorded 85 incidents. As many as a dozen Cruise cars stalled and blocked San Francisco streets during a music festival. Another Cruise robotaxi got stuck in wet concrete driving on Golden Gate Avenue in April. One Cruise collided with a fire truck on its way to an emergency. 20 feet: that's the distance when on Oct 2, a Cruise robotaxi dragged a pedestrian that was flung into its path by a hit-and-run driver before it was able to stop entirely. California now has demanded Cruise slash its fleet by 50%. The California Department of Motor Vehicles suspended Cruise's driverless vehicle license, grounding all of its robotaxis on Oct 24. On Wednesday, Cruise recalled all 950 of its cars. This autonomous saga is likely to continue. When AI works great, it can be astounding. When it fails, it can potentially be catastrophic. The most significant impact overall is pushing out AI before it is completely baked, which erodes public trust. Just ask a real estate agent or broker how vital trust is. Footnote: The Seattle World's Fair in 1962 boasted predictions that were "certain to be realities by 2001," including flying cars. We're clearly having crucial challenges with self-driving vehicles, much less flying ones. Maybe AI will succeed with eVTOLs (Electric Vertical Takeoff and Landing) where it hasn't – at least yet – with autonomous cars. At least that would cut the commute time for a buyer touring homes. AI Five Fast Facts Half of US adults are concerned about AI taking their jobs or the jobs of people they rely on. More than half (53%) of women stated they would not let their kids use AI compared to just over one-fourth (26%) of men. Only one in four Americans said AI will improve their lives. 64% of Americans believe that there should be disclosure when AI is used in professional spaces, lower than the 78% who say that the same disclosure should be applied to AI-created political ads. About two in three US adults said they are concerned that other countries will use AI to gain a competitive advantage in technological advancements over the United States. Source: Axios AI Headlines Take 10 1. Does your business need a chief AI officer? | ZDNET - 11/8/23Companies are adopting a new position for overseeing the adoption and deployment of AI. Does it pay in the mid-sixes? 2. 5 Strategies to Protect Your Company's Customer Service from AI Pitfalls | Entrepreneur - 11/2/23Understanding AI, recognizing the limits of AI tools, and calibrating your brand to harness AI to the fullest. 3. Love it or Leave it? Study Shows How People Perceive AI-created Content | Medium - 10/9/23Human favoritism does not equal AI aversion: a must-read for content creators leveraging AI. 4. Put these 5 AI tools to work for your content marketing in 2024 | Inman - 11/1/23Opusclip, Descript.com, Adobe Firefly, Remini, and Designrr (not a typo, yes, "rr"): recommended by self-described "AI Efficiency Coach" Phil Stringer, whose too-dark Insta photo needs AI help. 5. The ups and downs of leveraging AI in real estate | Palo Alto Online - 11/8/23Silicon Valley Assoc. of Realtors leans into the topic, but not very deeply. 6. Business leaders share their best practices when implementing AI | Fortune - 11/8/23AI adoption has doubled in the last five years, but companies struggle to leverage it, remaining in the baby steps phase. 7. Why self-regulation is best for artificial intelligence | The Hill - 11/8/23Swift responsiveness, cost-effectiveness, and trust through transparency are some of the perks of regulating your own AI. 8. How to detect real estate fraud: All you need to know | Comply Advantage Blog - 11/2/23While this is a security firm's blog post, it's an excellent recap of all kinds of fraud, ending with specifics on how AI can help detect it. 9. 'Power of AI': Use cases, security business implications | Comply Advantage Blog - 11/8/23Security company leaders gather to discuss AI's current and future influence in the security space. 10. Neural Networks Could Soon Bring Smartphone Photos to the Next Level | ExtremeTech - 11/6/23Glass Imaging explains how its AI tool is the next big thing in mobile photo-taking. Quote of the week To view the original article, visit the WAV Group blog.
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The Jury Has Ruled on Commissions: What Are the Next Steps?
So many lawsuits, what happens next? The answer is: it depends. For now, agents need to pay attention to the information from their MLS and their association of REALTORS, and talk to their broker. Do not put too much into the articles you read in the real estate news, unless a lawyer is writing it. The case list is long – Morel vs. NAR, Leader vs. NAR, Nosalek vs. MLSPIN, Sitzer/Burnett vs. NAR, and more! Do not get drawn into the drama. Nothing has happened yet. When it does, listen to your broker and your MLS/association. I have been mad about the Sitzer/Burnett case from the beginning. My opinion on Sitzer/Burnett is that the judge should be fired. Early in the case, he categorized it as a per se antitrust case rather than a rule of reason antitrust case. Every attorney that I have discussed this with has indicated that Sitzer/Burnett is a rule of reason case. That judge got it wrong. A per se violation requires no inquiry into the actual effect on the market, or the intentions of those individuals who engaged in the antitrust behavior. In this case, the market effect and intentions really matter… appeal! And yes, there will be an appeal, unless there is a settlement. The decision of appeal vs. settlement will absolutely be a measure of money – not law or the facts in the case. The final settlement in the case, or the appeal – or whatever happens next – does not really matter unless you are named in the litigation. For everyone else, think about how you can change now to avoid this sort of business uncertainty in the future. It's not that hard to change. Buyer's Agent Change Now Update the "Submit Offer" form from the buyer to include a field for buyer agent compensation. Oh, and make sure the buyer's agent uses a buyer representation agreement immediately, on every lead, and early in the conversation with the buyer. If you don't get paid by the seller, the buyer will need to pay you. Listing Agent Change Now Notify the seller of your fees and discuss the optional offer of compensation to the buyer's agent. Make it clear that the seller is paying your agency fee to some amount or percentage, and that they can authorize you to negotiate with the buyer on the buyer agent fee, or not. Let's look at the seller agency carefully. The seller pays a commission for a job. How the listing firm does that job, and who they pay to do that job, is up to them as long as it is seller authorized. MLS Change Now MLSs have the opportunity to change now. Just remove the offer of compensation field all together. Buyer's agents can submit an offer that includes buyer agent compensation; get out of that. This will also remove all suspicion of steering. Talk to Your Lawyer If you are an MLS, association, or broker, then you better have a dialogue with your lawyer about what happens if you get sued. The impact of these cases will be different for many states, so don't hold your breath and hope for clean air in the future. Assess your liability, if any. If you can pay it, or some amount – you may want to do that. Otherwise, you may want to dispose of your company and start another one before it's too late. NAR Dues The National Association of REALTORS® has had to raise money for settlements before. Some of you might remember the CIVIXX case involving a company that had a patent on displaying a property icon on a map to represent a home for sale. NAR settled for $7.5 million. They sent an invoice to all of the MLSs. This is a large legal bill; expect a far larger dues increase. Shout out to my retired consulting colleague Ann Bailey for saving the industry's ass with CIVIXX. Keep Selling The most important thing to tell agents today is to keep selling real estate, and their value is impressive. I expect some great new technology to emerge to demonstrate the value of listing agents and buyer's agents. I have been keeping an eye on Rayse. Theirs is a website that tells you nothing about the product, but the mission is clear: value your expertise. Consumers need professionals to help them with real estate transactions. Be there for your client. To view the original article, visit the WAV Group blog. Next steps Read recent research on buyer's agent commissions See more articles on tips, tricks and tools for buyer's agents Explore Buyer's Agent tools in our Product Directory.
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6 Reasons Not to Use Similar Passwords and the Best Alternatives
Today, our entire lives – professional and personal – are online. Increasing your security steps is now imperative. For Realtors, it's not just about locking doors after an open house but also bolting the virtual gateways to invaluable data: yours and your clients. It's challenging for anyone to keep track of the password demands of today as it seems nearly everything we access needs a password. Unfortunately, shortcuts can be costly. Using a simple password or a variation of a main password structure is like leaving your doors unlocked, begging hackers to enter. In a recent study by NordPass, the word "password" was the fifth most popular for nearly 21 million people worldwide. The top four passwords were "123456," "123456789," "12345," and "qwerty." It's also a common practice to simply create a variation of your favorite password, but experts warn that doing this exposes you to monumental risks. Here are six reasons why you don't want to create a variation of the same password and strategies to increase the protection of your data online. 1. The Peril of Variations Switching a number here or capitalizing a letter there might seem like you're outsmarting potential threats. But hackers are more sophisticated than ever. With advanced software programs that run powerful algorithms, bad actors can quickly predict exposed password variations. It's akin to a criminal casing a bank and studying routines. They still find their way in if you shift your spare key from the doormat to the flowerpot. 2. The Dangers of the Dark Web When internet breaches occur, the dark web becomes a marketplace of stolen data. Passwords are among the prime commodities. Are you using slightly adjusted passwords across platforms? If so, it potentially hands hackers a key to every digital room of your life. Again, for Realtors, protecting your data extends beyond personal ramifications. It means potentially jeopardizing client data – breaking their trust if sensitive information is accessed. 3. The Power of Modern Browsers Today's popular internet browsers like Google Chrome, Safari, and Microsoft Edge aren't just internet portals. They can fortify your online activity. By leveraging their cutting-edge features, you gain: Auto-generated Passwords: Your browser can instantly offer watertight passwords tailored to each site. Better yet, they store your new credentials and retrieve them as needed. Secure Vaults: Never forget or misplace your passwords again – the browser remembers them for you. Prompt Updates: Keeping your browser current ensures it will have the latest security protocols ready to protect you from nefarious plays. A continually updated browser is akin to a shield that's ever-changing to fend off the newest threats. 4. Passkey Protection Tech giants Google and Apple are launching a new era of passkeys. What are passkeys, and why should you care? Passkeys are the next generation of technology designed to replace passwords – and the challenges they create. First, passkeys are digital marvels. They are secure digital tokens that do away with the age-old hassle of recalling your passwords. Second, passkeys are unique to each site or application, residing securely within your device. Think of it as your distinctive digital signature for each site requiring secure access. What's the big deal? A compromised passkey for one site is utterly useless elsewhere. 5. Multi-Factor Authentication (MFA) MFA might feel like a chore, but the little bit of extra work makes it worth the effort. Visualize it as an advanced security system of a home. It demands not one but multiple proofs of identity – a known password, a device in hand, often to enter a code sent, or sometimes a biometric imprint like a face or fingerprint scan. This multifaceted defense means that intruders can't go any further, even if one part breaches. 6. Password Managers Does having to manage countless, highly unique passwords frighten you? An easy alternative is to use a password manager. Password managers are specialized software tools and browser add-ons designed to help you create, store, and retrieve intricate and unique passwords for your online accounts. Think of them as digital vaults. You only need to remember one strong master password to access your password manager, and it takes care of the rest, inputting the correct password on the right site whenever you need it. Reaping the Benefits When you forgo the lure of password shortcuts, you reap huge benefits: Trust: In an industry where your reputation is everything, safeguarding client data is vital. Peace of Mind: You can soundly sleep when you realize your digital identity is shut tighter than a drum. Efficiency: By using any of these automated tools, you'll spend less time on password recovery and more on your business. Fortifying Your Future Knowing the importance of password protection is the first step. Using the latest technology to fortify your online access is the next one. If you need help and advice, contact a friendly analyst at Tech Helpline, a free member benefit for over 765,000 Realtors across North America, for assistance. Remember, using a smarter approach to your passwords keeps your doors locked and prevents bad actors from breaking in. Related Reads From the Tech Helpline Blog: Is Your Computer Protected from All The Newest Cyber Threats? A Quick Checklist Top 5 Ways for Real Estate Agents to Protect Their Data and Personal Privacy How safe is your computer? Check out this safety checklist! Tricia Stamper is Director of Technology at Florida Realtors®, which owns both Tech Helpline and Form Simplicity.   Thank you to Tech Helpline for sponsoring this article on RE Technology!
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4 Ways to Invest in Yourself
As the saying goes: you can't pour from an empty cup. And it's not just the stuff of self-help literature, it's a fact — you can't be your best and beat the competition without taking care of and investing in yourself first. Throughout your career, it's crucial to assess where you are, and not just for the sake of ensuring you're hitting a target or a specific number. You want to ensure you're investing back in yourself, and that the investment you make translates back out into your business. 1. Learn a New Skill What better way to invest back into yourself than by putting in the time, effort, and dedication to learning a new skill or two? Take a beat to sit down and jot down a list of all the technical skills you'd like to improve but just haven't had the time to tackle. Maybe it's becoming a whiz at your team's CRM. How about writing great copy for your email sends? Or, this is the year you learn the ins and outs of optimizing your marketing ROI. Let the ideas flow, and then stack-rank them with your top three picks. Next, check out online or local courses, or even tapping the shoulder of a colleague, to see how you can improve in each of those areas. By investing in improving and diversifying your skill set, you're truly investing in yourself. You can also pivot this to be focused more on your professional development. Are you eager to sharpen your negotiation skills? Is there a niche in real estate you'd love to learn more about? Or could your presentation skills use some tightening up? Whatever it is, go forth and pursue it relentlessly. Not only will your real estate biz benefit, you never know — you just might find your next passion. 2. Get Involved with Your Local Real Estate Association Your local real estate association is a wealth of access to so many opportunities that can directly translate to your day-to-day work. By getting involved with your local association, you can get access to a wide variety of training offerings, exclusive market research and MLS listings, and opportunities to attend conferences. And, because you're rubbing elbows with fellow real estate pros, it's an excellent way to network. 3. Choose a Mentor in the Business World You likely already have a mentor in the real estate industry (and if you don't, you should), but have you considered partnering up with a mentor in the business world? A mentor doesn't have to be involved in real estate for you to learn things from them, especially in the world of business. Business has a vast selection of concepts and best practices, all of which can help amplify your real estate business. Tapping into a business mentor can also allow you to explore a variety of new skills that can translate over to your world of real estate. If there is an area you want to better understand, find someone that can teach you that is already an expert in that area. Wish you were a master at running a business of your own? Want to improve your skills overcoming objections? Need a refresher on networking, both virtually and online? A business mentor can help with all of the above. 4. Get Involved in Your Community Believe it or not, helping others can be the gateway to helping yourself. A great way to invest in yourself is by getting involved in your community. It may sound counterintuitive, but think about it: by rolling up your sleeves and helping out where you live, you can make an actual difference and true impact on your community members. Most surprisingly, volunteering and giving back has been found by researchers to have clear health benefits, both physically and mentally, as well as help build new skills and connections. Furthermore, being involved in your community allows you to become an expert in your area, which directly translates back to knowledge you can use to help your buyers and sellers. As an added bonus, getting your name, face, and assistance out in your local area helps build up your brand, too. Your path to learning, growth, and self-improvement should be a continuous journey. By investing in yourself, in turn, you can offer a better version of yourself to others and to the world around you. This causes a ripple effect out into your real estate business, leading to better client experiences, more confidence in your deals, and masterful management of all that comes your way. To view the original article, visit the BoomTown blog. Related reading 9 Traits of Wildly Successful Agents How to Accentuate the Positive in Your Real Estate Career From Plan to Reality: Making Goals and Sticking to Them
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Protecting Your Identity for Free: A Quick and Easy Guide
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. November's theme is "How to Be a Better Me." Read on for tips and tricks on being your best self: In an age where our personal information is more vulnerable than ever, it's crucial to take proactive steps to safeguard your financial well-being and personal privacy. Particularly when it's FREE and takes less than hour! One powerful tool in your arsenal against identity theft is placing a credit freeze with the three major credit bureaus: Equifax, Experian, and TransUnion. In this article, we will guide you through the process of placing a credit freeze and provide you with essential tips to fortify your financial security. What Is a Credit Freeze? A credit freeze, or security freeze, is a FREE option that lets you limit unauthorized access to your credit report, preventing others from opening accounts in your name. You'll need to "thaw" or lift the freeze each time you apply for credit; however, many people feel the benefits outweigh the small inconvenience. There are also paid credit "lock" subscriptions available including a number of identity theft protection tools. Overall, both credit freezes and credit locks can be effective tools for protecting your identity and the choice between the two depends on your personal preferences and needs. Why Should You Consider a Credit Freeze? Protection Against Identity Theft: A credit freeze is one of the most effective ways to prevent identity thieves from using your personal information to open new credit accounts, loans, or credit cards in your name. Peace of Mind: Knowing that your credit is locked down adds a layer of security, reducing the risk of unauthorized financial activities on your behalf. FREE and EASY: Placing and lifting a credit freeze is a straightforward process, and it's typically free of charge. How to Place a Credit Freeze Contact the Three Major Credit Bureaus: Visit the official websites of Equifax, Experian, and TransUnion to initiate the credit freeze process. You can also call their respective toll-free numbers or request it by mail. Provide Necessary Information: You will need to provide personal information such as your full name, date of birth, Social Security number, and address. Be prepared to verify your identity. Receive Your PIN: Once the freeze is in place, each bureau will provide you with a unique PIN or password. Keep these in a secure location as you will need them to temporarily lift or remove the freeze. Monitor Your Credit: Regularly check your credit reports for any suspicious activity. You can still access your own credit reports while the freeze is in place. Quick Resources for a FREE credit freeze: Equifax Consumer Service Center or call 800-349-9960 Experian Credit Freeze or call 888-397-3742 TransUnion Credit Freeze or call 888-909-8872 At a minimum, freezing the three major bureaus should be a top priority; however, there are a few lesser-known organizations worth considering. ChexSystems is a service many banks use when checking credit before opening new bank accounts – ChexSystems Online Security Freeze or call 800-428-9623 Innovis is another credit bureau many consumers miss when freezing credit reports – Innovis Online Security Freeze or call 866-712-4546 National Consumer Telecom & Utilities Exchange (NCTUE) is a credit reporting agency association within the utility industry – NCTUE (Exchange Service Center) Online Security Freeze or call 866-349-5355 Tips for Maintaining a Credit Freeze Keep Your PINs Secure: Never share your PINs with anyone you don't trust implicitly. Plan Ahead: If you intend to apply for credit, loans, or open new accounts, temporarily lift the freeze beforehand. This can usually be done quickly online or over the phone. Stay Informed: Stay updated on the latest developments in identity theft protection and credit reporting regulations. Review Your Credit Reports: Regularly review your credit reports for errors or discrepancies. You can obtain a free credit report from each bureau once a year at AnnualCreditReport.com. Consider a Credit Monitoring Service: These services can alert you to any suspicious activity on your credit reports, providing an added layer of security. Don't be one of the 40 million U.S. adults affected by identity theft every year. It can take months and years to fully recover financially from identity theft – don't wait until it's too late! By taking these steps to protect your credit, you can significantly reduce the risk of falling victim to identity theft. TrustFunds cares about the financial health of you, your business, and your clients! Share TrustFunds handy Protect Yourself from Identity Theft Flyer with your colleagues, friends, and family. TrustFunds is dedicated to simplifying, securing, and bridging digital gaps in the real estate industry, by streamlining the earnest money process. To learn more about TrustFunds and its services, please visit their website at trustfunds.us.com.
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Real AI: AI in your pocket, follow the (AI) money, fast facts and top headlines
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9 Expert Tips for a Worry-Free Vacation
Real estate is often a deadline-driven, 24/7 profession. The pressure to be available round-the-clock can mean interrupting personal time and sacrificing vacations. However, to serve your clients best, you need to be at your best. Yes, even real estate agents must take regular vacations. Believe it or not, it is possible to take a well-deserved break, genuinely disconnect, and not be consumed with worry. How, you ask? Here are some expert tips to help you take the time you need to recharge and refresh. 1. Pick a Partner Even if you are part of a team, chances are you already have found the benefits of being able to cover for one another. But if you're a solo agent, as most real estate agents are, collaboration is your friend. Partnering with a fellow agent during vacations can be a game-changer, as it unlocks the ability to cover for each other during vacations. This symbiotic relationship ensures that your clients are cared for and always have a point of contact. It also allows you to test the dynamics of working within a team. Who knows, it might just be the stepping-stone to a more significant partnership. It certainly will give you insight into team dynamics, and you'll see if it's a good fit for you. 2. Manage Client Expectations Communication and transparency are key. Weeks before your vacation, start telling your clients about your vacation plans. When a new client comes on board, make sure they also know about your plans. The key is to assure them that they will remain in expert hands while you recharge. If feasible, introduce them to your teammate in person, virtually, or even by emailing a personalized video. Clients value transparency and this proactive step can set the stage for smooth interactions and help strengthen their trust in you. 3. Prepare to Say No The allure of just one more deal or a quick showing is often hard to resist. But to truly disconnect, you must draw a line. Block your vacation time well in advance and be assertive in safeguarding that time. If a client requests a meeting during this period, politely decline and explain. While being there for your clients is essential, it's equally vital to be there for yourself. Remember, genuine emergencies are exceptions; everything else can wait. 4. Notifications? Turn Them Off A digital detox should be your mantra. To truly relax, you must go notification-free: it's your passport to a relaxing vacation. Yes, the real estate business is unpredictable, so to handle a dire emergency, you can set up a predefined system with your covering teammate. By establishing a fail-safe method, such as the "three-call rule" or a unique text code, you'll know when it is essential for you to respond. Otherwise, you can lean back – and relax! 5. Set Up Autoresponders In our hyper-connected world, silence leads to speculation. You can avoid this by setting up your email, text, and social channels with autoresponders. Include details about your plans, including whom to contact in your absence, their contact information, and the date of your return. Taking advantage of an automated system will keep everyone informed and reduce the influx of urgent requests. 6. Remind Your Colleagues Even if you have informed everyone in your office about your planned absence, it's a best practice to send a gentle reminder the day before you take off. Share who is covering for you to help protect you from any last-minute surprises. 7. Resist the Urge to Check Emails Yes, it will test your willpower not to pull out your phone and check your inbox, especially when you've built a reputation for being hyper-responsive. But remember, this is your time. If you must, allocate a specific short period in the day to skim through pressing emails that do not interfere with your vacation plans. And here's a hack: If you're traveling with someone, swap devices and screen each other's emails. That way, you can be confident that everything is okay back in the office. You still can address anything that is genuinely urgent. If your teammate can manage your inbox in your absence, that's even better. 8. Teach Your Teammate If you use a digital transaction management system, like Form Simplicity, make sure your teammate knows how to access and use it. For example, Form Simplicity allows you to create teams and allow team members customizable access to your transactions so your vacation-covering partner can monitor your essential activities. 9. Return with Buffer Time If you've been successful and truly disconnected and relaxed, the first day back to work can be jarring. Don't jump straight into appointments but make your first day a buffer day. Keep the day blocked off to sift through emails, catch up on updates, plan your tasks, and update your schedule. This way, you're not overwhelmed and can seamlessly transition back into your work mode. Take Time for You Real estate might be about location, location, location, but when it comes to maintaining a work-life balance, it's about preparation, delegation, and relaxation. Remember, a rejuvenated agent is a more effective agent. Investing time in yourself yields better focus, improved client relations, and a fresh perspective. So, embrace that vacation spirit: pack your bags, set up your out-of-office responders, and embark on that much-deserved getaway. As they say in real estate – it's an investment, and this one's for your well-being. Related Reads Form Simplicity and Tech Helpline blogs: 4 Ways Technology Can Help Real Estate Agents Achieve Work-Life Balance How to Reduce Stress from Tech: 4 Time-Tested Tactics 6 Ways You Can Use Technology to Reduce Your Stress Tricia Stamper is Director of Technology at Florida Realtors®, which owns both Tech Helpline and Form Simplicity.
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Our Top 10 Most-Read Articles of October: Scary Listing Photos, Client Retention, Decor Trends and More
Last month featured some spooky content, as our #1 most-read article of October attests to. But preventing past clients from ghosting was even more on the mind of agents and brokers last month. Articles #3 and #5 are from last month's Tips & Tricks Tuesday theme, "Never Lose Another Client." Never losing another transaction was also a top post — see our #2 article on contract cancellations. Want something lighter? Scroll down for quick reads on renovations (#7) and home decor trends (#10). 1. 13 Scary Listing Photos that Will Horrify BuyersSeeking something scary this Halloween? Look no further than this collection of listing photos. In the spirit of ghoulies and ghosties, and all things that go bump! in the night, here are 13 scary listing photos that will frighten prospects away faster than you can say boo! 2. Contract Cancellation: How to Prevent It From Happening to YouThe current market is seeing a record number of contract cancellations. Finding clients who are ready to transact is already hard enough in this market. Seeing a transaction through nearly to the end just for it to be canceled can be downright devastating. So what's an agent to do? 3. 3 Ways to Create Forever Clients Using Your Real Estate CRMCountless real estate agents lose business because people in their sphere 1) assumed the agent was too busy because they never reached out, or 2) didn't think of the agent first because they didn't communicate as consistently as the agent who reached out regularly and provided valuable information. To build a robust database that supports your business for years to come, here are three ways to strategically strengthen client relationships. 4. 5 Emerging Technologies That Will Redefine Real EstateEmerging technologies are already impacting how real estate professionals can complete daily tasks faster. From automation to computer vision, these game-changing technologies are unlocking new ways to accelerate the day-to-day productivity of real estate professionals. Here are five emerging technologies that are starting to reshape how to attract, engage, and maintain clients. 5. 6 Ways Digital Home Management Platforms Help Agents Keep Clients ForeverThe real estate industry naturally focuses on finding active buyers and active sellers. But what do agents, brokerages, and the industry do to help the other 115 million homeowners who either recently completed a transaction or are happy in their current home? Learn how digital home management platforms help homeowners manage their home while providing agents and brokers with a way to never lose them. 6. 4 Interesting Ways Top Producers Use Their CRMS (That You Might Not Be Doing)Most agents use some kind of a CRM. Even though agents know that they should be leveraging these tools to help them generate more business (and more income), many of them seem to be doing so... somewhat halfheartedly. But agents who produce more are using their CRMs a little bit differently than agents who produce less. Here are some ways you might consider tweaking your own CRM use in order to join that top echelon of sellers. 7. The ROI of Renovations: Explaining the Financial Potential of Renovating Before SellingLow listing inventory is a common challenge that agents are facing in 2023, and one big reason is because homeowners who live in properties that could use a little TLC before going to market are unable to fund those renovations. It's hard for a homeowner to list their most valuable asset knowing that they could be asking for more money if they made a few small changes upfront! Presale renovations are one way that homeowners can realize the full potential of their home's value without having to pay out-of-pocket for the upgrades. Find out how to discuss presale renovations with potential sellers. 8. RPR Mobile: Why It's the Must-Have App for REALTORSThe RPR app is akin to carrying around the entire RPR website in your pocket or purse: it's jam packed with property data, reports and tools. With it, agents are as equally productive as when they're in the office at their desktop. This article highlights all the tangible features and capabilities of real estate's most powerful app — and puts a spotlight on all the intangibles that make it an indispensable tool. 9. How Often Are Agents Alone With Prospects? (And How Dangerous Is That, Really?)Working as a real estate agent is perfectly safe most of the time. When it's unsafe, however, it's usually due to the fact that agents meet frequently with people they don't know very well at private home showings or open houses, which can put them at risk. A recent agent safety study asked agents how often they are alone with prospects and what steps they take to keep themselves safe at work. Here are some of the findings around agent interaction with their clients. 10. Home Trends: What's In (and Out) for 2024Get ready, #hometok. Zillow is unveiling its data-driven predictions for the features and design elements poised to transform homes and dominate social media feeds in 2024. From the raw appeal of brutalist design (concrete floors, anyone?) to the delicate artistry of Murano glass chandeliers, these emerging home trends highlight new post-pandemic pastimes and a nostalgia for the design of decades past.
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4 Things You Should Always Have in Your Listing Presentation or Open House
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Should You Explore the Divorce Niche for More Listing Leads?
In a time of challenging inventory levels, real estate agents are having to take a hard look at unexpected places to find listings. One tactic is to explore niches that are unaffected by broader economic currents, particularly those related to life events — like divorce. This niche is what real estate broker and coach Brandon Mulrenin discusses in the video below. But first, a caveat: Given the emotional nature of the circumstances, serving divorcing clients is not for the faint of heart — or the untrained. Realtors interested in the niche should look into certification courses that teach communication skills specific to serving divorcing clients, as well as family law issues. If this seems like a niche that you'd like to serve, watch the video below to learn: The pros: market-proof niche, highly motivated sellers, low competition How one client can lead to three transactions Strategies for building relationships with divorce attorneys to encourage referrals The compliance issues you may encounter, and the expertise needed to avoid them The pros and cons of having to testify in court And more Explore more real estate niches Try This Expired Listing Script to Win More Appointments How to Win Over Tough FSBOs (and a Script to Help) Why Absentee Owners May Be a Gold Mine for Seller Leads in Today's Market
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Robots.txt: A Comprehensive Guide for Real Estate Websites
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25 Tips, Tricks and Resources for Keeping Past Clients
You've likely heard that old bit of business wisdom: it's more costly to find a new customer than to keep an existing one. Acquiring new real estate clients typically means spending on marketing and advertising — and it also requires a whole lot of hustle. Your existing clients, however, already know you and trust you, and with a bit of effort to stay in touch, they're likely to hire you again. But what are the best ways to stay top-of-mind and what tools can help? Those are the questions we've been tackling this month. During the month of October, RE Technology has been running a series of articles every Tuesday aimed at helping you retain more clients. It's part of our "Tips and Tricks Tuesday" series. This month, our theme has been "Never Lose Another Client." Below is an overview of the topics we covered, compiled in one convenient place: 6 Ways Digital Home Management Platforms Help Agents Keep Clients Forever 3 Ways to Create Forever Clients Using Your Real Estate CRM 4 Tips to Ensure You Never Lose Another Client How to Attract Customers... and Keep Them: Think Like a Healthcare Network Unlock the Secret to Keeping Clients We hope these articles were helpful to our readers. However, you should know that great advice about keeping clients isn't something we share just one month per year — we do it year-round! To help round out our client retention-focused month, today we want to share more resources that we've published over the years. Let's dive in… First things first Before you can lay out your approach to client retention, you need to understand why clients forget their agents and what they want from you after the sale. According to What Do Past Real Estate Clients Want?, they want to know that they can approach you in the future if they have questions or need contractor recommendations — basically, by being a reliable source of homeownership information, you inspire long-term loyalty in your clients. That helpful approach can start immediately with something as simple as sharing a New Home Checklist for Your Clients: 11 Things to Do After Unpacking. Tools and strategies for client retention There are plenty of tools out there that can help you maintain client relationships. Before you look to plunk down serious cash, however, don't forget to look to your MLS. Here's a simple way you can use your MLS to stay in touch. One emerging client retention strategy is called "homeowners under management," which leverages home management platforms. These platforms support homeowners throughout the homeownership lifecycle by providing a single place for them to track their home's equity, store important documents like mortgage docs and insurance policies, learn about maintaining a home, and much more. These platforms are typically branded to the agent's or brokerage's business, which puts your real estate business front and center whenever the client accesses the platform. HomeZada and Milestones are two major players in this space. Another way to stay-top-of-mind with past clients is by tapping into their innate curiosity about their home and neighborhood. CoreLogic's ePropertyWatch automates this process for you by sending out periodic neighborhood and property reports to your contacts. For a more personal touch, we've always been partial to the annual equity update. You can use RPR or your MLS's public records tool to create a home equity report, and then reach out to homeowners on their home purchase anniversary to share that report. It's a great reminder to past clients of the value you provide and of your market knowledge. Of course, keeping track of that anniversary date means relying on perhaps the most important tool in your client retention arsenal: the CRM. But we think that deserves a section of its own… Working your database Your real estate CRM is a veritable goldmine. If you're not taking advantage of it to stay in touch with past clients, check out the following articles to learn how to: Build a healthy repeat and referral business Create a follow-up process Use your CRM like a top-producing agent Email is one of the easiest ways to keep in touch with former clients, especially when automated, and most CRMs offer email functionality. Here are some email campaign ideas you can try to retain existing clients: Example of a Homebuyer Follow-Up Campaign 6 Emails You Can Use to Stay in Touch with Past Clients Communication is key We've talked a lot about keeping in touch with past clients, but if that's something you've let fall by the wayside, never fear! It's never too late to reach out. In fact, one agent didn't reach out to a client in 12 years, but when she did, she earned $10,000 from a personal note! If you need a little help in reaching out to contacts you've fallen out of touch with, see: The Ultimate Script for Reconnecting with Past Real Estate Clients. For more strategies for staying in touch, see: 6 scripts to keep in touch and get more business The 8-step outreach plan to use with buyers during their first year of homeownership Finally, what you don't say is sometimes just as important as what you do say. Learn how to avoid a communication faux pas in 5 Things an Agent Should Never Say to Leads and Past Clients. More tips and tricks for your real estate business Catch up on our previous Tips and Tricks Tuesday series: 52 Resources for Making Money with Your Phone 40 Tools, Tips and Scripts for Finding More Listings
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Real AI: 2024 the Year of AI, AI fast facts and top headlines
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. 2024: The Year of AI The accelerated growth we are seeing and experiencing in artificial intelligence continues to be unlike any other game-changing technology ever. When it comes to Generative AI and Large Language Models, it's just a baby about to turn into a teenager. If you think AI in 2023 has been incredible, just wait until 2024. Based on its trajectory, 2024 will be the year of AI. Some signs and signals: Investment: Goldman Sachs says AI investment in startups could reach $100 billion in the US and $200 billion globally by 2025. They are probably underestimating it. Research: Industry, not academia, is dominating AI research, says a new MIT study. "70% of individuals with a Ph.D. in artificial intelligence get jobs in private industry, compared with 20% two decades ago." Google alone has invested a reported $30.7 billion in AI. Facebook comes in at $22.1 billion and Microsoft and Amazon at $10 billion each, ExoInsight said in March. And don't forget IBM, one of the earliest pioneers with Watson, so far investing $200 billion. Again, we are seeing just the tip of this research iceberg. Breakthroughs and Milestones: Over time, AI gets smarter. Coupled with the fact that we are putting more brainpower behind AI innovations than ever, we are likely to see a stunning increase in the use of AI, especially in early adopting industries like real estate. If you're shocked that at the RESO meeting last week, the opening recording of the voice of Rebecca Jensen, Chair of RESO and head of MRED, was not Rebecca, wait until you see what will blow you away in 2024. Next year will provide new AI tech even more jarring than the demo Ylopo showed at the T3 Sixty Tech Summit, where agents can create automated, personalized instant videos – digital twins complete with their artificially created voice – to send to a client. Regulation: The regulatory battles are just beginning. Next week, the Biden administration will issue an AI Executive Order, expected to attempt to put guardrails around AI. Governments have done so well regulating social media – not! On the plus side, the order is also likely to unlock immigration barriers for high-skilled workers. Government: The White House is reportedly preparing a website to recruit AI workers, which will include the ability to submit a resume to apply for AI-related jobs in government. Just watch how many AI positions will instantly open up. Remember, the Federal government spent $3.3 billion on AI last year. Impact: Protesters and advocates will marshal forces next year. The Green movement has yet to make a serious dent in the conversation, and that's one area that's prime to be poked. Legal: They take years, but we are likely to see some initial rulings and decisions in 2024 that likely will be landmark rulings for AI. But the legal battles are just beginning, and the path to the US Supreme Court on some of these suits is likely, and that is rarely a fast path. Adoption and affordability: Agents use AI whenever they take a photo on their smartphone. Just watch the adoption rate in tech when AI finally delivers the promise of saving an agent time and money. AI is the Easy Button every agent has been asking for and will now be able to afford. The ROI for a real estate agent when it comes to new AI tech in 2024 should drive adoption to the point that AI next year will be ubiquitous. Hype vs. Table Stakes: If you set your Google Alerts to include all things AI-related to real estate, as I do, you know how your inbox has exploded this year as AI use exploded in the real estate sector. Just wait until 2024. The hype mode is about to hit warp speed. Fortunately, AI will be table stakes in 2024 so in many cases, AI is likely to live up to its hype. I'll stop here, but there are many more reasons that 2024 will be the Year of AI, and the overall benefits for real estate agents could be massive. That's as long as they remember author John Niasbitt's advice: "High tech/High touch." P.S. Time Magazine's "Person of the Year" just might be AI. That could even happen this year. AI Five Fast Facts More than half of all employees (54%) have no idea how their company is using AI. Companies using AI today estimate that 70% of their total workforce will use AI to automate or augment some of their job tasks by 2028. 75% of workers believe AI makes them more efficient, productive, and accurate. Globally, only 44% of employees believe they interact with AI in their personal lives. 62% of executives say they are at least slightly concerned that their company is not moving fast enough with AI. Source: UKG, a human resources and workforce firm AI Headlines Take 5 AI fakes are everywhere: here's how you can spot them | New York Post - 10/25/23How to avoid AI trying to trick you into buying something with a deep fake. AI Is Here To Stay As Real Estate Industry Shows Increased Signs Of Adoption | Realty Biz News - 10/23/23Real estate professionals and consumers are using AI more and more. 20 Jobs Artificial Intelligence Can't Replace | Yahoo! News - 10/23/23Is your job something AI can't do? Take a look at a new study. How Generative AI Will Change the Way You Use the Web, From Search to Shopping | The Wall Street Journal - 10/17/23Tech leaders from companies like OpenAI and Meta gather to discuss how AI will lead to seismic changes and put the $100 billion search industry up for grabs. Inside Apple's Big Plan to Bring Generative AI to All Its Devices | Bloomberg - 10/22/23Current generative AI runs on the cloud; Apple wants it to run on your iPhone. Huge. Quote of the week To view the original article, visit the WAV Group blog.
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Unlocking RPR's Potential: A Buyer's Agent Daily Playbook
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Want to Know More About RPR? Take a Guided Tour
At RPR (Realtors Property Resource®), our single-minded goal is to help REALTORS® be better at everything they do. From daily transactional tasks to building a prospecting pipeline, everything RPR offers is centered around increasing agent productivity and profitability. We want to arm you with data, tools and reports. We want to help you unlock everything RPR has to offer. We want to guide you to greatness! We want to take you on a Guided Tour… What and where are RPR's Guided Tours? Perhaps you're a new agent or new to RPR. Or maybe you're a regular user of RPR, but you only use it for certain things. Either way, the Guided Tours are perfect ways to get introduced to and get familiar with RPR's core capabilities. When you log in to RPR and visit the home page, you'll see the lineup of Guided Tours (formerly called "Shortcuts") right underneath the main search bar. The residential Guided Tours include: Property Search, Prospecting, Market Trends, Map Search, Create, CMA, Create Reports and RPR Mobile™. Each Guided Tour is an interactive, step-by-step journey that will take you through the process of completing a task. When you click on a Guided Tour icon, you will be shown where to begin and as you finish each step, the system will guide you to the next. For example, if you click on "Market Trends," a magenta box will appear that will welcome you to the tour and tell you what steps are next and how to progress through them. You simply click your way through and follow the prompts to see how the feature works and to get a feel for the workflow. This online walkthrough (sort of a digital hand-holding) leads you through some of RPR's most popular offerings. Each tour is easy to follow, doesn't take too much time, and it's a smart way to get your feet wet and learn some new skills! Pro Tip: To exit a Guided Tour at any time, just click the "X" in the upper right corner. You can also collapse the Guided Tours menu altogether by clicking on the three vertical dots at the end of the menu, and then select Collapse card. RPR's Commercial Guided Tours On the RPR home page, flip the toggle to "Commercial," and the Guided Tours will change accordingly. Here's what it looks like: The Commercial Guided Tours are Property Search, Map Insights, Site Selection, Research Trade Areas, Investor Analysis, Create Reports and Prospecting. The tours and the process work exactly the same as the residential versions. Want more? Take the tour… What are you waiting for? Go to the RPR website, click on one of the Guided Tours and enjoy the ride! You'll learn the ins and outs of helpful RPR features and unlock new capabilities that can make you a stronger, more skilled real estate professional. RPR offers REALTORS® unparalleled access to data, analytics and tools. And now, we're offering Guided Tours so our users can learn more and use RPR to its fullest! To view the original article, visit the RPR blog.
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4 Interesting Ways Top Producers Use Their CRMS (That You Might Not Be Doing)
Most agents use some kind of a CRM, whether that's a spreadsheet where they keep a contact list and track activity, or a sophisticated platform built specifically for real estate agents. And even though agents know that they should be leveraging these tools to help them generate more business (and more income), many of them seem to be doing so … somewhat halfheartedly. That's what new WAV Group research indicates, at any rate. The group surveyed agents, split responses according to production level, and then analyzed the big differences separating top-producing agents, who close more than 30 deals every year, with agents who close fewer deals than that. The big takeaways? Agents who produce more are using their CRMs a little bit differently than agents who produce less. Here are some ways you might consider tweaking your own CRM use in order to join that top echelon of sellers. 1. Choose Something and Stick With It Everyone in real estate has heard of "shiny object syndrome." While it's a good thing to be on the lookout for potential improvements in the products you're using, that's not a great philosophy to have when it comes to working with a CRM. One big thing that sets top producers aside from agents who don't close as many deals is that they have been using their CRMs, on average, for longer. This indicates that they are switching platforms less frequently than lower-producing agents. If you use something for a long time, you get to know its quirks and abilities much better than if you're constantly swapping it out for something new. Of course, it makes sense to look for a new CRM if yours can't do what you need it to, but oftentimes that's a user issue, not a software issue. 2. Take Some Classes (Preferably Time-Bound) A real estate CRM is a notoriously complicated piece of software, and for every feature it adds, the users will need a bit of training around how to best deploy the feature. If you never took the opportunity to take an in-person or live online training around how to use your CRM and everything it can do to bring in more business, there is no time like the present! Top-producing agents are significantly more likely to say that they invested time and energy in learning how to use their CRM, either at a live in-person training, or through online training that is time-bound. On-demand videos can also be good options, but don't forget: You'll need to actually watch them and pay attention to them in order to get anything out of them! 3. Use Your CRM Every Day When asked how often they use their CRM, the top producers in the survey were significantly more likely to use their CRM multiple times a day, or at least once every day. And when markets start to shift and tighten, they are more likely to report investing even more time into their CRM activities. Some CRMs offer lists of priority activities and potential clients to tackle or reach out to every day. Whether or not you need that feature, it can be a good jumping-off point for training yourself to use the platform every day, no matter what. 4. Focus on One-On-One Conversations Instead of Blasts Another interesting and significant way in which top producers differ from lower-producing agents in their CRM usage is the specific activities they focus on when they are using their CRM. Agents who aren't closing as many deals tend to be somewhat all over the place when it comes to their CRM usage: In other words, they're trying a little bit of everything, and they might not be entirely sure about what's really working and what's not. By contrast, top producers are more likely to use their CRM to facilitate and track one-to-one text message or phone conversations with their prospects. They're doing this more than email blasts or other marketing tactics that a CRM supports. (Top producers are still using email blast features, to be clear, but they're also focusing more relentlessly on those individual outreach opportunities.) Don't know what to share in those private conversations? Consider using RPR to generate a CMA for any homeowners in your network, or for buyers who might be interested in a specific property. The platform has almost endless opportunities for generating specific market data for the people in your sphere. If you don't have a CRM, it's time to get one. And if you do, and you're not using it like a top producer, then maybe some of these tips will help generate more leads (and more business) for you, which is exactly what a CRM should be doing. Happy prospecting! Next Steps Read more articles about CRMs Explore CRM solutions in our Product Directory
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Stay Ahead of the Game: Embracing technology in the real estate industry
In today's digital age, staying ahead of the curve and effectively leveraging technology is crucial for staying competitive and maximizing your potential as a real estate professional. But are you truly harnessing the power of technology to its fullest extent? In this post, we'll explore the various ways technology can amplify your real estate business and provide you with practical insights on how to integrate it seamlessly into your day-to-day operations. Whether you're a seasoned real estate professional or just starting, this article will equip you with the knowledge and strategies to make the most out of the technological advancements available to you. Let's dive in! Gaining a competitive advantage with technology By embracing technology, you can boost your productivity and effectiveness, ultimately leading to greater success. Here are some techniques that leading brokerages are using to thrive in the digital age. Be visible online In the current era of digital technology, real estate brands need to have a strong online presence. The industry may be hyperlocal, but being visible and searchable online is still crucial. Start by optimizing your website, but don't stop there. A comprehensive digital footprint includes strategies for directories, social media, link building and conversion optimization. Make sure potential clients can easily find and engage with your business online. The National Association of Realtors reports 96% of buyers used online tools when searching for a home. Lead generation Lead generation has become a vital aspect of a successful real estate business. While relationships remain important, the digital transformation has shifted the focus to the customer. Platforms like Trulia, Homes for Heroes and Realtor.com have gained popularity by prioritizing consumer-centric experiences. Consider using cost-effective and highly targeted options like Google Ads to drive conversions on your website. Ads can provide a high return on investment when managed properly. Create the ultimate listing Use tools like iGUIDE to create 3D tours and accurate floorplans. iGUIDE is an innovative technology that allows real estate agents and photographers to create comprehensive and immersive property listings. With iGUIDE, you can provide potential buyers with an accurate floorplan and interactive virtual property tour giving viewers a sense of actually being there. iGUIDE is your 24/7 virtual open house! By incorporating iGUIDE into your listings, you can give buyers a realistic sense of the property's layout and features, allowing them to visualize themselves living in the space. This can significantly increase the chances of generating interest and ultimately closing a sale. By leveraging technology effectively, real estate professionals can stay ahead in a competitive market. Embrace the digital revolution, generate leads through various channels and use an online hosting tool like iGUIDE to create the ultimate listing experience. For more information about iGUIDE and its benefits, connect with an iGUIDE Specialist today. With the right technology, you can thrive as a realtor in the modern age. To view the original article, visit the iGuide blog. Thank you to iGuide for sponsoring this article on RE Technology!
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The Power of Real Estate Podcasting: Building Your Voice in the Industry
Hey there, real estate aficionados! Ready to take your expertise to the next level and dominate the industry? Well, we've got just the trick up our sleeves — real estate podcasting! Grab your mics and let's dive into the wonderful world of podcasting, where your voice becomes your biggest asset. Why Podcasting? Imagine yourself in traffic or out for a run and wishing you could be doing something useful and learning something new. Guess what, though? Your prospective customers share this sentiment! Real estate agents can connect with their audience in a convenient and interesting way through podcasts. Podcasting can open doors you never knew existed, whether you're an experienced agent or a fresh-faced rookie! Finding Your Voice Now, before you begin to picture yourself as the upcoming podcasting sensation, keep in mind that finding your voice is essential. Your podcast should showcase your style, knowledge, and enthusiasm for real estate. Talk honestly, share your experiences, and use humor to make it enjoyable. When you're genuine, your listeners will trust you, and that trust will eventually translate into more leads and conversions. Connecting with Your Audience The ability of podcasting to forge a close connection with your audience is one of its magical qualities. Real estate agents also sell aspirations and dreams in addition to actual properties. Share motivational client success stories, offer insightful market analysis, and deal with common issues. Engaging with your listeners fosters loyalty and converts them into brand ambassadors who recommend your podcast to their friends and family and, eventually, your products. Guests Galore You can work together with other real estate professionals by podcasting. Guests for your show should include mortgage brokers, interior designers, and home stagers. Cross-promotion broadens your network while also giving your content more variety. Additionally, guests bring their listeners with them, which exposes your podcast to a larger audience. Getting Techy Tech newbies need not worry! Access to podcasts is better than ever. A good microphone, a computer, and podcast hosting services are all you need. The process is made simple by platforms and editing tools like Audacity, GarageBand, and Anchor. Don't be intimidated by the technical side because what matters most is your voice! Are There Opportunities for Real Estate Agents? Of course! Beyond building your voice in the industry, podcasting offers a treasure trove of opportunities for real estate agents. Let's explore some of them: Lead Generation - Potential customers may be drawn to your podcast. You establish yourself as a market authority by consistently offering insightful content. When they are prepared to buy or sell their properties, listeners who trust your advice are more likely to get in touch with you. Niche Dominance - Does your real estate business specialize in luxury properties, commercial spaces, or first-time homebuyers? Use your podcast to showcase your expertise in your chosen niche. This focused approach will attract like-minded clients who are seeking specialized services. Networking and Partnerships - Other business professionals will come to you naturally as you establish a strong podcast presence. Create deep connections with them so you can form profitable alliances. Collaborations can broaden your reach even more by co-hosting events or exchanging referrals. Brand Awareness - Podcasting gives your brand a voice, allowing you to create a memorable and recognizable identity. By promoting your podcast across various platforms, you elevate your visibility and gain recognition among potential clients and industry peers. Monetization - While the main goal of podcasting is to add value for your listeners, it can also generate income. You can look into sponsorships, advertising, or even premium content options once your podcast has a sizable audience. To conclude, real estate podcasting is a powerhouse tool that can propel your career to new heights. With a sprinkle of personality, a dash of expertise, and a touch of tech know-how, you can create a captivating podcast that draws in a loyal audience. As you share your knowledge and passion, you'll build your voice in the industry, paving the way for success. So, gear up, fellow agents, and let your voice reverberate through the airwaves of the real estate world. Embrace the magic of podcasting, and watch your business bloom like never before! Happy podcasting! To view the original article, visit the Transactly blog.
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Unlock the Secret to Keeping Clients
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. October's theme is "Never Lose Another Client." Read on for tips and tricks on maintaining long-term relationships with your clients: In the competitive world of real estate, keeping clients happy and loyal is essential. Rental Beast offers tools to help you maintain strong client relationships and reduce the risk of losing them: Swift Lead Responses Client retention often hinges on how quickly you respond to inquiries. If you respond to a new lead within the first minute, your likelihood of contacting them increases by over 200%. Having an automatic lead response system set up to dispatch an email as soon as a lead enters your pipeline is critical. Rental Beast users can set up a customizable rapid response using the client communications tool to improve the chances of retaining clients. You can also set up reminders and be CC'd to ensure you stay on top of contacting leads. Tailored Qualification Questions Qualifying your lead as soon as they come in helps understand a client's needs, which is the foundation of exceptional service. You can proactively guide them toward the ideal property or determine if they qualify as a buyer, giving them confidence in your abilities as a real estate professional and strengthening your client-agent relationship. The Rental Beast client communications system lets you send a qualifying questionnaire to the lead as soon as they come through, allowing you to determine the best path forward for your first contact. It also allows you to take notes and keep a digital record of past communications so you don't have to track them manually, saving you time and money. Lease Renewals That Work for You Staying on top of lease renewals allows you to reconnect with the renter and the property owner. If your client is not renewing their lease, you can help them find a new place and the property owner find a new renter. According to a report by the National Association of REALTORS®, 89% of homebuyers would use their agent again or recommend them to others. By maintaining relationships with those renters, once the lease renewal date comes around, it may be time to buy a home, giving you the perfect opportunity to check in with them. Adding your clients and their lease dates to the Rental Beast platform sets you up for automatic reminders and success. Start using Rental Beast today to refine your client retention strategies and witness its positive impact on your real estate business.
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Winning Over Sellers: Mastering CMAs and Equity Updates with the RPR App
There's no denying that we live in a mobile-first world. We demand flexibility and convenience across all facets of life, including the world of real estate. That's where the RPR (Realtors Property Resource®) Mobile™ app comes into its own. Readily available at your fingertips when you're out meeting clients or previewing properties, it makes once complex tasks—like creating a CMA (Comparative Market Analysis) or Estimating Equity—a breeze. Let's see how these tools work and how easy they are to use… Creating CMAs with RPR Mobile™ A CMA helps you formulate an ideal selling price or a competitive buying offer. But why use your phone for this? Simple! With the RPR app, you can compile a detailed CMA right on the spot. There's no need to head back to the office or reach for your laptop. Let's explore how to easily and efficiently create a CMA using your RPR app: 1. Begin the CMA: From the RPR app, tap on the magnify icon and enter the subject property address. Then once the property loads, tap Reports and then, and select Create CMA. An alternative way is from the property search results, scroll to find Pricing Tools and select Create CMA as well. 2. Confirm Property Details: View public and listing facts about your subject property. If you find any data missing or incorrect, simply tap on Your Changes, make the necessary adjustments and save. When you're complete, tap Confirm. 3. Choose Comparables: From the menu near top of the screen, select either List or Map. This allows you to choose an interface best suited to pick properties comparable to yours. The map view will allow you to zoom into specific areas. To search a larger area, tap Remove Boundary. You can also use filters to refine your selection based on type, status, property characteristics or keywords. 4. Add Comparables: Go ahead and tap Add for all properties that match your criteria from either the map-pin view or listed view. Tap Next when complete. 5. Review and Adjust Comparables: Now comes an important part—reviewing selected comparables. Swipe left or right on each listed comparable property to view its details. If a property doesn't fit, simply tap Remove. You can reorder listings as well using the drop-down menu placed above each listing's photo. Also, use the sliding scale to adjust how each comparable measures up against your subject property. Here's also where you can add essential notes about individual comparables, including specific features or data points that can impact property valuation. 6. Report Delivery: Time to finalize your report. Check the generated price, price range and tap Edit if any changes are needed. Choosing the delivery method is as easy as a tap–select to email it or have the report downloaded. Calculating Estimated Equity with RPR Mobile™ Apart from generating on-the-spot CMAs, RPR Mobile™ also arms you with another impactful tool: the Estimated Equity Calculator. Homeownership is not just about possessing property—it doubles up as a significant financial asset. The value encapsulated in homes, termed "equity," can shape one's financial health dramatically. As a REALTOR® utilizing this Estimated Equity feature offered by RPR, your insights could become eye-openers for homeowners. To get started and quickly provide insight into your client's financial standing, select a subject property and navigate to the Pricing Tools section, just below the CMA. If you've completed a CMA, that value will be entered in the Property Value field, otherwise, it's the RVM® (Realtors Valuation Model®) value. Next, you'll add loan details or confirm the pre-filled loan data. Then it's just a quick tap on Create Report to generate the Estimated Equity Report. Keep in mind that the Estimated Equity Calculator is just that: an estimate. It should be viewed as an initial step and its purpose is to arouse curiosity and start conversations. Use it as a way to enlighten potential sellers, get their contact info, and set up another meeting. Financial Benefits of High-Equity Homeownership Discussing equity with potential clients is a smart "foot in the door" type of strategy. Don't be afraid to pull out your phone, with the RPR app of course, and zero in on that magic number. It can be a great conversation starter, because being a high-equity homeowner brings many benefits, including: It allows for an unburdened house shopping experience, less dependent on loans. For those still seeking financing for their new home, high equity contributes towards lower monthly payments and better loan terms. Homeowners approaching or enjoying retirement years can find comfort in their home equity—providing them with stable financial support when required. Use the RPR app to build CMAs, estimate equity and reap the rewards RPR Mobile™ is an indispensable tool for ambitious agents, as it simplifies complex tasks like generating CMAs or estimating equity on-the-go. Its utility extends beyond these tasks by bridging informational gaps between REALTORS® and consumers, fostering transparent transactions backed by reliable data. To view the original article, visit the RPR blog. Thank you to RPR for sponsoring this article on RE Technology!
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Home Trends: What's In (and Out) for 2024
Get ready, #hometok. Zillow is unveiling its data-driven predictions for the features and design elements poised to transform homes and dominate social media feeds in 2024. From the raw appeal of brutalist design (concrete floors, anyone?) to the delicate artistry of Murano glass chandeliers, these emerging home trends highlight new post-pandemic pastimes and a nostalgia for the design of decades past. To discern these trends, Zillow looked at nearly 300 home features and design styles mentioned in for-sale listing descriptions, then identified the keywords showing up far more frequently than a year ago. "When certain keywords appear in a rising share of listings, it's a signal that today's home buyers may be gravitating toward those features," said Amanda Pendleton, Zillow's home trends expert. "Real estate agents are uniquely attuned to subtle changes in what buyers want, and they often get a first look at the latest and greatest features going into newly built homes. Savvy listing agents will highlight those trending, in-demand features when marketing a home for sale." It is important to note that while the share of listings mentioning a particular trend may be growing, the absolute percentage of listings that mention these features remains very low. That's why Zillow included expert analysis along with changes in listing keyword frequency to identify the six home trends poised to make waves in the new year, and three trends heading out of style. Trends to watch in 2024 Brutalism Characterized by raw, exposed materials, this mid-20th-century design style is primed to continue its controversial comeback in 2024. Zillow has seen a 452% increase in the share of for-sale listings mentioning brutalist design. Brutalist-inspired features, such as blackened steel casement windows, raw concrete floors and jagged patinated bronze light fixtures, read as modern, functional and sustainable. This style's stripped-back interiors act as a blank canvas, making them appealing to minimalists or to creative homeowners who want to furnish them according to their personal style. Those who aren't quite ready to embrace this stark style can bring in accessories such as wrought iron candleholders and tarnished brass trays to give their home a subtle edge. Sensory gardens or pathways Sensory gardens have been surging in popularity on Zillow, with homeowners and home buyers prioritizing functional and beautiful outdoor space as a way to reconnect with nature. Listings mentioning sensory gardens or pathways are up 314% compared to last year. Sensory gardens are designed to engage all five senses and are believed to have therapeutic benefits. They incorporate a variety of plants, textures, colors, scents, sounds and edible elements, such as herbs or produce. Cold plunge pools Move over, hot tubs. Cold plunge pools are the hottest wellness trend of 2024, touted by influencers as a way to improve circulation and reduce inflammation. The share of listings on Zillow that feature an at-home cold plunge pool is up 130% compared to last year. Once an invigorating amenity reserved for spas and luxury listings, DIY-friendly cold plunge tubs are making this wellness practice accessible to almost anyone looking for a quick endorphin boost and adrenaline rush. Pickleball courts Game on! This fast-paced paddle sport is becoming a sought-after amenity in backyards and neighborhoods. In New York City, StreetEasy is seeing a 100% increase in the share of for-sale listings highlighting a home's proximity to public or private pickleball courts. Nationwide, pickleball mentions are up 64% on Zillow compared to last year. "Pickleball courts have become a great selling feature because they appeal to athletes of all ages," said Joy Kim Metalios, a Zillow Premier Agent partner in Fairfield County, Connecticut. "I've seen homeowners converting their driveways into courts by using portable nets. Players with ultra-luxury homes are painting new pickleball lines on their sport courts or tennis courts. Since pickleball is such a social sport, an at-home court has become the latest entertaining feature, like an outdoor kitchen or a pizza oven." Murano glass chandeliers Classic Murano glass chandeliers are the ultimate bespoke light fixture. These handcrafted pieces of art from the island of Murano in Italy are reemerging as a designer favorite, channeling the glamor of decades past. These intricate, quirky and often colorful fixtures are now being featured 58% more often in listings on Zillow. Murals Homeowners and home buyers are saying goodbye to bland in favor of personality-packed homes. Eclectic, maximalist interiors are increasingly featuring statement-making murals that dial up the drama in a living room, dining room or bedroom. Murals are showing up 18% more often in for-sale homes on Zillow, and they're more accessible than ever. Wallpaper murals are now readily available and depict all types of scenes, from large-scale landscapes to modern botanicals. Trends heading out in 2024 Shou sugi ban Shou sugi ban is a traditional Japanese wood preservation technique that involves charring the wood's surface to create a blackened, weathered finish. This type of burnt-wood cladding became a mainstay of modern farmhouse design, creating a visually striking contrast against white shiplap siding. But like shiplap, barn doors and other farmhouse fads, shou sugi ban planks may be heading out to pasture, too. There are 69% fewer for-sale listings featuring this design element on Zillow compared to last year. The 'cloffice' The pandemic sparked many trends — some lasting (more athleisure, please!) and others short-lived (bye-bye, bread baking). The "cloffice" appears to be among the latter. This office space created out of a closet was a trend that grew out of necessity as remote workers living in tight quarters became desperate for a quiet place to take Zoom meetings. While some talented do-it-yourselfers were able to create beautiful, well-designed workspaces, others discovered that spending their workday in a closet was less than inspiring. Combined with the return-to-office movement, the cloffice is now appearing in 54% fewer Zillow listings. Zoom rooms are also down, by 41%, and office sheds are highlighted 31% less frequently in listing descriptions. Tuscan kitchen Wanderlust and pop culture sensations (ahem, "The White Lotus") sparked a wave of destination design during the pandemic. Spaces inspired by past or aspirational travels began trending as homeowners were hunkered down at home. Now that homeowners can set off on global adventures again, they may no longer be seeking Mediterranean villa vibes at home. Mentions of Tuscan kitchens are down 45% from a year ago, while all things Parisian are down 26%. Related Reading Research-backed Remodeling Ideas that Net a Higher Sales Price The ROI of Renovations: Explaining the Financial Potential of Renovating Before Selling Staging the Exterior of Your Home for Real Estate Photography
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[Podcast] Recruiting Good People to Your Real Estate Team with Austin Glass
Austin Glass is a Founding Partner of Mint Real Estate. He has a background in residential and commercial real estate, and flourished in customer service and sales before that. In this episode of Real Talk with Realtors, hear how to find the right people for your real estate team, figure out who you don't need, determine when to expand your team, establish core values, and document your processes. This episode covers everything from hiring to writing SOPs. Here's a small sample of what you will hear in this episode: How do you recruit people for your real estate team? What does Austin look for when interviewing agents? Has he had to let anybody go? What can go wrong with recruiting? When is the right time to expand your team? Why should an executive assistant be your first hire? Does Mint have a library of SOPs? What should you be asking yourself if you're being recruited? Connect with Austin at MintRealEstate.com. Check out the episode and show notes for much more detail. Listen on: Spotify Apple Podcasts Google Podcasts Visit the episode homepage for show notes and more detail.
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10 Ways Real Estate Agents Can Use Facebook to Promote Their Services
In today's digital age, the real estate landscape has evolved dramatically. Gone are the days of relying solely on traditional marketing methods like yard signs and newspaper ads. Instead, savvy real estate agents are turning to social media platforms like Facebook to promote their services and connect with potential clients in innovative ways. If you're a real estate agent looking to expand your online presence and boost your business, read on to discover how Facebook can be your secret weapon! 1. Create a Captivating Facebook Page Making an interesting and professional Facebook page is the first step in your journey into the world of Facebook real estate promotion. This will act as your online storefront, giving prospective customers the crucial first impression. Use a professional headshot as your profile picture and a tasteful picture of the place you're representing for your cover photo. Give specific details about your knowledge, credentials, and the areas you serve in the "About" section of your page. To build trust online, keep in mind that transparency and clarity are essential. Don't forget to include your contact information so that potential customers can easily get in touch with you. 2. Consistent Posting for Brand Building When it comes to keeping an active presence on Facebook, consistency is the key. Create a content schedule that combines real estate listings, market-related articles, behind-the-scenes looks at your business, and client success stories. Use captivating subtitles and attention-grabbing images to draw viewers in. Don't be afraid to show off your individuality; sincerity can attract customers in a big manner. To keep your readership interested and informed, try to post at least once or twice per week. 3. Harness the Power of Facebook Ads For real estate agents, Facebook's advertising platform opens up a world of possibilities. You can target your ads to particular interests and even individuals who have recently interacted with content about real estate. Ads for your available properties, upcoming open houses, or informational articles about the home-buying procedure might be considered. The ability to create visually stunning and informative carousel ads is one of the unique features of Facebook ads. These let you display numerous images of a building while emphasizing its salient features. Describe the property's distinctive selling points in compelling copy, and include a clear call to action encouraging interested buyers to contact you. 4. Live Virtual Tours Utilize live virtual tours as part of your Facebook marketing plan to provide prospective buyers with a compelling experience. You can live-stream tours of the properties you have listed using a smartphone or camera, allowing viewers to ask questions in real time. This interactive approach not only keeps your audience interested, but it also establishes you as a tech-savvy agent who goes above and beyond to meet the needs of their clients. Additionally, virtual tours make it simple for busy people or out-of-town buyers to view properties from the comfort of their homes. 5. Engage with Your Audience Don't let your Facebook page become a one-way street. Actively engage with your audience by responding to comments, messages, and questions promptly. Building a responsive and friendly online presence can go a long way in fostering trust and building relationships. You can also join local real estate groups or community pages on Facebook. Share your expertise by answering questions and participating in discussions. Being a helpful resource within your community not only positions you as an expert but also creates opportunities for networking. 6. Use Facebook Analytics to Fine-Tune Your Strategy The ability to monitor your efforts and gauge their effectiveness is one of the best things about digital marketing. Facebook offers a comprehensive suite of analytics tools that let you learn more about the actions of your audience and the effectiveness of your posts and advertisements. Review these analytics frequently to determine what is and is not working. Are certain post types receiving more interaction? Do certain demographics respond to your ads more favorably? For maximum impact, use this information to fine-tune your content and advertising strategy. 7. Collaborate with Local Influencers Consider partnering with local influencers or real estate bloggers to amplify your reach. These individuals often have dedicated followings who trust their recommendations. By collaborating with them, you can tap into their audience and gain credibility in the process. Whether it's a joint Facebook Live session discussing the local real estate market or having them share your property listings, influencer partnerships can be a game-changer in expanding your online presence. 8. Showcase Your Expertise Through Facebook Live Q&A Sessions By running Facebook Live Q&A sessions, you can establish yourself as an industry authority. Select timely subjects like "First-Time Homebuyer Tips" or "Navigating the Seller's Market," and encourage the audience to pose questions live. These presentations not only demonstrate your expertise but also give your audience members useful information. To encourage attendance, advertise these sessions in advance and think about providing rewards like no-cost home assessments or special access to real estate listings. 9. Encourage Client Testimonials and Reviews Positive reviews and testimonials from satisfied clients can be a potent marketing tool. Encourage your past clients to leave reviews on your Facebook page. Share these testimonials on your timeline to build trust with potential clients who may be considering your services. Respond to reviews, whether positive or negative, professionally and constructively. Address any concerns raised by clients to demonstrate your commitment to exceptional customer service. 10. Stay Updated with Facebook's Features Facebook is continuously evolving, introducing new features and tools that can enhance your real estate marketing efforts. Stay informed about these updates and adapt your strategy accordingly. For example, consider using Facebook Marketplace to showcase your listings, or explore Facebook Groups for real estate enthusiasts. The more you leverage these features, the more your visibility and engagement can grow. In conclusion, Facebook has become an indispensable tool for real estate agents looking to promote their services effectively in the digital age. By creating an engaging Facebook page, consistently posting valuable content, using Facebook ads, and embracing innovative features like live virtual tours, you can unlock new opportunities and build lasting relationships with clients. With a strategic and authentic approach, you'll be well on your way to Facebook success in the competitive world of real estate. Happy promoting! To view the original article, visit the Transactly blog.
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The Ultimate Guide to Sitemaps for Real Estate Websites
A sitemap is a file that lists all of the important pages on your website, along with additional information about each page. Sitemaps are important for search engine optimization (SEO) because they help search engines crawl and index your website more effectively. This can lead to improved search engine rankings and increased organic traffic and can be helpful in fixing indexing issues. An optimized sitemap is especially important for real estate websites, which can often be large and complex. A well-structured sitemap can help search engines understand the hierarchy of your website and the relationships between different pages. This can make it easier for search engines to find and rank the most important pages on your website. What is a sitemap and why is it important for real estate websites? A sitemap is a file that provides a roadmap of your website's structure to search engines. It lists all the pages on your website, including their URLs, and can include additional information such as the last modified date and the frequency of changes. By providing this information, a sitemap helps search engines understand the organization of your website and its content. For real estate websites, which often have a large number of pages and listings, a sitemap is crucial. These websites typically have various categories such as property types, locations, and price ranges. Without a well-structured sitemap, search engines may struggle to navigate through the complex web of pages, potentially missing important content. An optimized sitemap ensures that search engines can easily crawl and index all relevant pages, improving the visibility of your real estate website in search engine results. How an optimized sitemap improves search engine visibility Sitemaps play a crucial role in enhancing the efficiency of search engine crawling and indexing processes for your website. Search engines employ crawlers to navigate the internet and discover new web pages. By providing a clear roadmap of your website, sitemaps facilitate the crawlers in locating and indexing all of your pages effectively. Moreover, sitemaps aid search engines in comprehending the structure and hierarchy of your website. They enable you to indicate the relative importance of different pages on your website and establish the relationships between them. This valuable information assists search engines in gaining a better understanding of your website's content and ranking it more accurately in search results. Furthermore, sitemaps serve as a means for search engines to identify and rectify any indexing errors. When a search engine accesses your sitemap, it promptly detects any errors such as broken links or missing pages. This allows you to promptly address these issues, thereby contributing to the overall quality of your website. Additionally, sitemaps facilitate communication between you and search engines regarding any changes made to your website. If you add or remove pages from your website, updating your sitemap to reflect these changes is essential. This ensures that search engines maintain an up-to-date index of your website, enabling them to promptly crawl and index your new or updated pages. Best practices for creating an optimized sitemap for real estate websites Creating an optimized sitemap requires careful planning and attention to detail. Here are some best practices to consider when creating a sitemap for your real estate website: 1. Organize your sitemap by categories and subcategories To make it easier for search engines to understand the structure of your real estate website, organize your sitemap by categories and subcategories. For example, you could have categories for property types (e.g., houses, apartments, condos), locations (e.g., cities, neighborhoods), and price ranges. Within each category, create subcategories if necessary to further refine the hierarchy of your sitemap. 2. Include all relevant pages and listings Ensure that your sitemap includes all relevant pages and listings on your real estate website. This includes property detail pages, search result pages, blog posts, and any other content that you want search engines to index. Remember to update your sitemap whenever you add new pages or remove old ones to keep it accurate and up to date. 3. Optimize your URLs When creating URLs for your real estate website, use descriptive and keyword-rich terms. This not only helps search engines understand the content of your pages but also improves the user experience. Avoid using generic and meaningless URLs, such as "www.example.com/page1," and instead opt for URLs like "www.example.com/houses-for-sale-in-new-york-city." 4. Use XML sitemap format XML (Extensible Markup Language) is the preferred format for sitemaps. XML sitemaps are easy for search engines to read and understand, and they provide additional information such as the last modified date and the priority of each page. Use a sitemap generator tool or a content management system (CMS) plugin to automatically generate and update your XML sitemap. Once you have created and optimized your sitemap, it's important to submit it to search engines. Here's how you can do it: How to submit your sitemap to search engines Submitting your sitemap to search engines is a crucial step in optimizing your real estate website. By doing so, you can ensure that search engines are aware of all the pages on your website and can index them properly. Here are some steps to follow when submitting your sitemap: 1. Generate a sitemap: The first step is to generate a sitemap for your real estate website. There are several tools available that can help you create a sitemap automatically. One popular option is to use a plugin if you're using a content management system like WordPress. These plugins can generate a sitemap for you and update it automatically whenever you add or remove pages from your website. If you are using the Realtyna WPL Platform, you can use the WPL Sitemap Feature to add your listing to your sitemap. 2. Verify your website: Before you can submit your sitemap, you need to verify that you are the owner of the website. This is done by adding a verification code or file to your website. The process for verification may vary depending on the search engine you are using. For example, if you're using Google Search Console, you can verify your website by adding a meta tag or uploading an HTML file to your website's root directory. 3. Submit it to search engines. Here's how you can do it: Google Search Console - To submit your sitemap to Google, first, create a Google Search Console account if you haven't already. Verify ownership of your real estate website, and then navigate to the "Sitemaps" section. Enter the URL of your sitemap (e.g., "www.example.com/sitemap.xml") and click on the "Submit" button. Google will then start crawling and indexing your website based on the information provided in your sitemap. Bing Webmaster Tools - Bing Webmaster Tools is a similar platform to Google Search Console, but for Bing search engine. Sign in or create an account, and then add and verify your real estate website. Navigate to the "Sitemaps" section and enter the URL of your sitemap. Click on the "Submit" button to submit your sitemap to Bing for crawling and indexing. Monitoring and updating your sitemap for optimal performance Creating an optimized sitemap is not a one-time task. Real estate SEO experts regularly monitor and update sitemap to ensure optimal performance. Here are a few tips: 1. Regularly check for errors Use the tools and plugins mentioned earlier to regularly check for any errors or issues with your sitemap. This includes broken links, missing pages, and any other issues that may prevent search engines from properly crawling and indexing your real estate website. Fix any errors promptly to maintain a healthy sitemap. 2. Monitor search engine performance Keep an eye on your real estate website's performance in search engine results. Monitor your organic traffic, rankings, and click-through rates to identify any changes or trends that may indicate issues with your sitemap or overall SEO strategy. Make adjustments as necessary to improve your website's visibility and performance. 3. Update your sitemap when necessary As your real estate website evolves, you may add new pages, remove old ones, or make changes to existing content. It's important to update your sitemap whenever such changes occur to reflect the current state of your website. This ensures that search engines have the most up-to-date information about your real estate listings and pages. Most of the SEO plugins will automatically update the sitemap when anything happens to pages. 3. Do not add No-index pages to your sitemap Sitemaps should include URLs that are Do-index, if you are using a robot meta tag to disallow Google bots to crawl your pages, you should not add these pages to your sitemap, otherwise, you will an error in Google Search Console. Conclusion: The importance of an optimized sitemap for real estate websites In conclusion, an optimized sitemap is a valuable asset for real estate websites. It improves search engine visibility and more. By following best practices and using the right tools and plugins, you can create and optimize a sitemap that helps your real estate website rank higher in search engine results. As a real estate SEO expert, I recommend you don't underestimate the power of a well-structured sitemap in maximizing the potential of your real estate website. To view the original article, visit the Realtyna blog.
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Stand Out in the Crowd: Personalize Your RPR Reports with Custom Pages
Standing out in the real estate industry is a necessity rather than a luxury. And one tool that ensures you do just that is RPR's (Realtors Property Resource®) custom page feature. This valuable tool not only helps you fine-tune your RPR reports, it also allows you to leave a lasting personal impression. How to add customized pages to your RPR Reports Implementing this tool is straightforward. By navigating to the Reports tab on RPR's website, and selecting Manage Custom Pages, you can upload up to five PDF files, which can be easily positioned anywhere within your report thanks to RPR's flexible user interface. Now, let's delve deeper into the various ways this standard-setting customization tool can transform your personal brand: Your Professional Identity Highlighting your qualifications, certifications and specialized skills gives clients insight into your professional prowess. Personal testimonials or reviews from past clients inserted into your custom pages can serve as powerful references, further enhancing client trust. Your Successful Track Record Sharing details about sold properties, awards and recognitions received paints a picture of success. Also consider spotlighting exceptional transactions where you overcame significant hurdles—these stories tell more about what you bring to the table than numbers ever could. Your Team's Strengths and Collaborative Approach If collaborative effort defines your operations, displaying profiles or skills of team members gives clients an idea of the collective capabilities they're hiring. Reports of successful collaborations on past transactions could seal the deal. Your Client-Centric Approach Proactively addressing common questions shows dedication to transparency and client understanding. Including resources that explain buying/selling processes simply further demonstrates your readiness to guide them through their real estate journey. Community and Local Expertise Are you actively involved in local community events? Do you have insightful knowledge of local neighborhoods or property trends? Sharing these local-focused insights emphasizes your commitment to both community and industry growth. Custom pages can also be uniquely tailored to varying types of clients: For Sellers Sharing your unique selling strategies helps to build trust, reinforcing the feeling that they're in capable hands. Including staging tips provides a glimpse into your expertise, reassuring sellers about their sale's potential success. For Buyers Providing a glimpse into potential neighborhoods could save buyers hours of research. A guide specifically created for first-time buyers simplifies the purchasing process, easing any worries they may have. For Investors Supplying case study pages introduces investors to real-life instances of your previous successful ventures. By presenting these successful stories, you help them comprehend your effective strategies. This sort of confirmation helps them make confident investment decisions. Adding custom pages to reports sets you apart from a crowded field Are you beginning to see how using RPR's custom page feature can turn the tables in your favor, propelling both you and your clients toward success? It's really about understanding what your clients are looking for and then serving it to them pre-packaged and tied with a bow. So go ahead, give it a shot — you're already one step ahead of the game by reading this article. You've got this! To view the original article, visit the RPR blog. Thank you to RPR for sponsoring this article on RE Technology! Related reading 5 RPR Report Customizations You May Not Be Using RPR Reports: Easy to Create, Hard to Duplicate 1-Minute Lesson on How to Add Custom Pages to RPR Reports
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8 Tips to Consider at Real Estate Networking Events
The purpose of a networking event is to meet people. In an industry that is wildly competitive, sometimes all it takes is knowing the right person. Like any other marketing tactic, networking can drastically improve the success of your business. If you don't like getting out of your office to meet people, then you're in the wrong industry. Here are eight items to consider while at a real estate networking event: Be early Being early to a networking event gives you a chance to not only chat with the organizers of the event before they are bombarded by other people, but it also gives you the opportunity to talk with any other early birds in a less chaotic environment. Additionally, who doesn't like a real estate agent that is prompt to their scheduled events and meetings? Being early reflects well on your time management skills, which is wildly important in an industry where deadlines are crucial to success and happy clients. Be yourself You are who you are. Don't try to put on an act because eventually your true colors will shine through. In life, you are not always going to mesh well with everyone. The same can be said for people you will work with in the real estate industry. Being true to who you are will bring you more success in the long run than being fake in order to get business. If your prospective clients don't like you for who you are, then it is their loss! SMILE Have you ever been to an event where there is one person in the room that is completely straight faced and doesn't crack a smile the entire time he/she is there? I'm sure it looked like they were in agony being there. Don't be that person! Smiling lets people know that you are friendly and gives them a signal that it is okay to come and chat with you. When you smile, you give people good vibes which can greatly improve your success at networking. Don't overdo social events Networking events are supposed to be fun, but they are also professional events. Don't be that agent that is out of control because you enjoyed the open bar. Your goal is to conduct yourself in a professional manner, while also being somewhat casual and approachable so that you are able to make connections with others. My point — know your limit. Start conversations Engage with others so that they will engage back with you! If you are just going to stand there looking awkward and miserable, it is unlikely that anyone will come and talk to you. Get out of your comfort zone and start a conversation with someone new. Everyone that you meet has the potential to help your business so make the time you spend networking count. Get off your phone If you are going to spend your time sitting on your phone, you might as well go home. When you are on your phone, it gives people the impression that you don't care about the purpose of the event and that you don't want to talk to anyone. Put your phone away and engage with people face to face. Collect business cards Every business card that you collect is a potential lead for you. Maybe not right at this moment, but at one time or another, almost everyone is going to need a real estate agent. You want to be that real estate agent! You are going to be able to market your business to these people in the future, so collect as many business cards as you can. And yes, this means that you should be talking to as many people as possible in order to get these business cards. Don't over analyze Networking events are supposed to be fun, so don't over analyze the situation. Try to relax and just have a good time talking to people and make some connections! Real estate networking events can really take your business to the next level and allow you to meet people that you may not have met in different circumstances. Remember that real estate is a numbers game, and the more people you connect with, the better chance you have for potential business. Don't be shy — get out there and network! To view the original article, visit the Zurple blog. Further Reading Improve Your Networking Skills: Follow These Tips and Watch Your Network Grow The Introverted Real Estate Agent's Guide to Networking Are You Leveraging Networking to Boost Your Business? 10 Tips for Networking Your Way to More Referrals
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Proximity Marketing and Real Estate: How Location Helps Agents
As real estate agents, we know that finding the perfect property for our clients is all about location, location, location. But what if there was a way to take location-based marketing to a whole new level and boost our sales? Enter proximity marketing – the game-changer that has revolutionized how we connect with potential buyers and sellers in the digital age. In this post, we'll explore the fascinating impact of proximity marketing on real estate sales and how it helps agents seal the deal with style! What Is Proximity Marketing? Let's debunk the mystery surrounding proximity marketing first. It's a clever tactic that uses a customer or prospect's location to deliver relevant advertisements or messages. With proximity marketing, we can reach our audience at the ideal time and place, whether it's a push notification on their smartphone as they walk by a property, a special offer for a nearby open house, or an educational email customized to their neighborhood. The Power of Personalization The days of general advertising that failed to appeal to our prospects' particular interests are long gone. We can personalize our outreach and make it pertinent to the person's needs and preferences by using proximity marketing. We can serve up content that resonates with them and establish rapport by doing analysis on the data from their location and prior interactions. Who wouldn't want to work with an agent who is aware of their needs and satisfies their dreams, after all? Geofencing: The Secret Weapon Think of creating an invisible fence around a particular area so that whenever a prospective buyer or seller enters, they hear a personalized message from you. That is one of proximity marketing's key benefits of geofencing. Geofencing enables us to connect with our prospects at the exact right time, whether it's in a hotspot neighborhood with upscale listings or a bustling commercial area with exciting investment opportunities. Enhancing the Open House Experience Although open houses are our mainstay, they occasionally feel like shots in the dark, hoping the right buyer will appear. Proximity marketing completely changes this situation. We can send out invitations and reminders to prospective buyers nearby by utilizing beacon technology, which will boost foot traffic and generate buzz about the property. Additionally, we can gather insightful information on visitor engagement and preferences to follow up after the event in an efficient manner. Nurturing Long-Term Relationships Trust is crucial in real estate, and proximity marketing makes it easy to establish it. By continuing to communicate with our clients even after the transaction is complete, we are able to give them insightful information about their neighborhood, timely market updates, and a friendly reminder that we are always available by message. It's the ideal recipe for developing enduring connections that result in recommendations and repeat business. Embracing Innovation In an industry that's constantly evolving, embracing innovation is key to staying ahead of the competition. Proximity marketing not only helps us adapt to changing trends but also positions us as tech-savvy agents who are at the forefront of revolutionizing the real estate experience. This fresh and forward-thinking approach can attract tech enthusiasts and younger buyers who appreciate staying one step ahead of the curve. To conclude, proximity marketing is more than just a buzzword; it's a real estate agent's secret weapon for success. By utilizing this powerful strategy, we can engage with potential buyers and sellers at the right moment, with the right message, and in the right location. From personalized outreach to enhancing open house experiences and nurturing long-term relationships, proximity marketing empowers us to take our real estate game to a whole new level. So, fellow agents, let's embrace the digital revolution and leverage the power of proximity marketing to elevate our sales, grow our client base, and make a lasting impact on the world of real estate! The future is here, and it's right at our doorstep. Let's open the door to a new era of real estate sales with proximity marketing. Happy selling! To view the original article, visit the Transactly blog.
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Who is a Real Estate SEO Expert? And What Do They Do?
A real estate SEO expert is a professional who specializes in optimizing websites for search engines to improve organic rankings. They have a deep understanding of search engine algorithms and use their expertise to increase visibility and drive targeted traffic to real estate websites. These experts utilize a range of strategies, including conducting thorough keyword research, implementing on-page optimization techniques, creating compelling content, building high-quality links, and optimizing technical aspects of websites. By implementing these tactics, they assist real estate professionals in dominating search engine results and surpassing their competitors. In today's fiercely competitive online environment, the inclusion of a real estate SEO expert on your team can have a profound impact. Their knowledge and skills can assist you in attracting qualified leads, generating a higher number of conversions, and ultimately expanding your business. The importance of SEO for real estate businesses Search engine optimization, or SEO, is the process of optimizing a website to rank higher in search engine results pages (SERPs). For real estate businesses, it is an essential component of their digital marketing strategy. The higher a real estate website ranks on search engines like Google, the more visibility and exposure it gets, leading to increased traffic, qualified leads, and conversions. SEO is particularly crucial in the real estate industry because competition is fierce. With so many real estate businesses vying for the attention of potential customers, it's essential to stand out from the crowd. A real estate SEO expert can help your business achieve this by using their skills and expertise to improve your website's visibility and search engine rankings. What does a real estate SEO expert do? What does a real estate SEO expert do?A real estate SEO expert is a professional who specializes in optimizing real estate websites for search engines. They deeply understand search engine algorithms and use their expertise to improve organic rankings, drive targeted traffic, and increase conversions. Here are some of the things that a real estate SEO expert does: Keyword Research Keyword research is the process of identifying the words and phrases that potential customers use when searching for real estate properties, agents, or services. A real estate SEO expert will use various tools and techniques to conduct thorough keyword research and identify the most relevant and high-traffic keywords for your business. They will then use these keywords to optimize your website's content, meta tags, and other on-page elements to improve your search engine rankings. On-Page Optimization On-page optimization is the process of optimizing the content and structure of a website to improve its relevance and visibility to search engines. A real estate SEO expert will use various on-page optimization techniques, such as optimizing meta tags, headers, images, and internal linking, to improve your website's relevance and visibility to search engines. They will also ensure that your website is mobile-friendly, has a fast loading speed, and is user-friendly to improve user experience and engagement. Off-Page Optimization Off-page optimization is the process of improving a website's visibility and authority through external links and mentions. A real estate SEO expert will use various off-page optimization techniques, such as link building, social media marketing, and content marketing, to improve your website's visibility, authority, and reputation. They will also ensure that your business is listed in relevant directories and citations to improve your visibility in local search results. Technical Optimization Real estate SEO experts should have a strong understanding of technical SEO, which is the process of optimizing a website's technical aspects to improve its visibility and ranking in search engine results pages (SERPs). Some of the key technical SEO tasks that a real estate SEO expert should be able to perform include: Local SEO for Real Estate Businesses Local SEO is the process of optimizing a website for local search results. A real estate SEO expert will use various local SEO techniques, such as optimizing your Google My Business profile, building local citations, and getting positive reviews, to improve your visibility and relevance in local search results. This is particularly crucial for real estate businesses that serve a specific geographic area. Tracking and Measuring Success in Real Estate SEO A real estate SEO expert will also track and measure the success of your SEO efforts using various tools and metrics, such as Google Analytics, Google Search Console, and keyword rankings. They will use this data to refine their strategies, identify opportunities for improvement, and demonstrate the ROI of their SEO efforts. Now, we are going deep through each one of the real estate SEO expert responsibilities: Keyword research for your website Keyword research is the process of identifying the keywords and phrases that potential customers are using to search for products or services like yours online. It is an important part of SEO (search engine optimization), as it helps real estate SEOs to create content and optimize your website so that it ranks higher in search engine results pages (SERPs). Here are some of the important things in the keyword research process: Brainstorm a list of relevant keywords RESX (Real Estate SEO Experts) start by brainstorming a list of keywords and phrases that are relevant to your business and the products or services you offer. They consider the different types of properties you sell or rent, the locations you serve, and the types of buyers and sellers you work with. Use keyword research tools There are a number of keyword research tools available that can help you identify relevant keywords and phrases, as well as their search volume and competition level. Some popular keyword research tools include Google Keyword Planner, Ahrefs, Ubersuggest, and SEMrush. Identify long-tail keywords Long-tail keywords are more specific and less competitive than short-tail keywords. They are also more likely to be used by potential customers who are closer to making a purchase decision. For example, real estate SEO experts, instead of targeting the keyword "real estate agent," might target the long-tail keyword "best real estate agent in [city]." Use keywords throughout your website Once they have identified a list of relevant keywords, they will be sure to use them throughout your website, including in your title tags, meta descriptions, header tags, and body content. This will help Google to understand what your website is about and rank it accordingly. If you are interested in the keyword research process for your business, check out the best real estate SEO keywords for 2023. On-page optimization for your website On-page optimization is the process of optimizing the individual pages of a website to improve their ranking in search engine results pages (SERPs). It involves optimizing a variety of factors, including the website's content, structure, and metadata. For real estate websites, on-page optimization is especially important, as it can help to ensure that potential buyers can easily find your website and learn about the properties you have for sale. Here are a few key things that real estate SEO experts will do: Use relevant keywords throughout your website, including in your title tags, meta descriptions, header tags, and body content. Create high-quality, informative content that provides value to potential buyers. Optimize your images by sizing and compressing them properly and using descriptive alt text. Improve your website's structure by using clear and descriptive URLs, creating a logical hierarchy of pages, and using internal links to connect your pages together. Make sure your website is mobile-friendly. Off-page optimization for your website Off-page optimization is a crucial aspect of real estate SEO. It involves strategies that are implemented outside of the website itself to improve its search engine rankings. One of the most important off-page optimization techniques is link building. Real estate SEO experts understand the significance of building high-quality backlinks to a website. Backlinks act as votes of confidence from other websites, indicating to search engines that the website being linked to is trustworthy and valuable. Real estate SEO experts use various tactics to acquire backlinks, such as guest posting on relevant industry websites, reaching out to influencers for collaborations, and leveraging social media platforms to promote content and acquire links. In addition to link building, real estate SEO experts also focus on other off-page optimization techniques, such as social media marketing and online reputation management. By utilizing social media platforms effectively, they can broaden the reach of real estate websites, engage with the target audience, and drive more traffic. Online reputation management involves monitoring and managing the online presence of real estate businesses, ensuring that their reputation remains positive and trustworthy. Technical optimization for your website Here are some technical things that your SEO expert should have to do for your website: Optimizing website speed Improving website structure Fixing broken links Creating a mobile-friendly website Using relevant keywords throughout the website Optimizing images (Want to know more about it? Learn a few tips in SEO Tips for Images: Real Estate Edition) Submitting the website to search engines Monitoring website performance and making adjustments as needed Note that not all of the above items should done alone by SEO experts; for some of them, SEOs need help from a developer or website admin. Local SEO for real estate businesses Local SEO is a vital component of real estate SEO, as it focuses on optimizing websites for local search results. Real estate professionals operate within specific geographic areas, and it is crucial for their websites to appear in local search results when potential clients search for real estate services in their vicinity. Real estate SEO experts employ various strategies to optimize websites for local search, such as optimizing Google My Business profiles, creating location-specific landing pages, and obtaining local citations. By implementing these techniques, they help real estate businesses increase their visibility in local search results, attract more qualified leads, and ultimately drive more conversions. Local SEO for real estate businesses also involves optimizing websites for mobile devices, as a significant portion of local searches are performed on smartphones and tablets. Real estate SEO experts ensure that websites are mobile-friendly and provide a seamless user experience across different devices. This optimization helps real estate businesses capture mobile users and enhances their chances of converting them into clients. Tools and resources used by real estate SEO experts Real estate SEO experts use a range of tools and resources to conduct keyword research, analyze website data, and optimize websites for search engines. Here are some of the most popular tools and resources used by real estate SEO experts: Google Analytics Google Analytics is a free web analytics service provided by Google that tracks and reports website traffic. Real estate SEO experts use Google Analytics to track website traffic, user behavior, and other key metrics to improve their SEO strategies. Google Search Console Google Search Console is a free tool provided by Google that helps website owners monitor and maintain their website's presence in Google search results. Real estate SEO experts use Google Search Console to track website performance, identify technical issues, and submit sitemaps. Ahrefs Ahrefs is a popular SEO tool that provides data and insights on backlinks, keywords, and website traffic. Real estate SEO experts use Ahrefs to conduct keyword research, analyze competitor backlinks, and monitor website performance. SEMrush SEMrush is an all-in-one marketing toolkit that provides tools for SEO, PPC, content marketing, and social media marketing. Real estate SEO experts use SEMrush to conduct keyword research, analyze website data, and optimize websites for search engines. Tracking and measuring success in real estate SEO Measuring and tracking the success of your SEO efforts is crucial to improving your website's search engine rankings and achieving your business goals. Here are some metrics that a real estate SEO should track to measure the success of their SEO efforts: Organic Traffic Organic traffic refers to the number of visitors who come to your website through search engine results pages. Tracking organic traffic can help you understand how well your website is ranking on search engines and how effective your SEO efforts are. Keyword Rankings Keyword rankings refer to the positions your website ranks for specific keywords on search engine results pages. Tracking keyword rankings can help you understand how well your website is optimized for specific keywords and how competitive your industry is. Conversions Conversions refer to the number of visitors who take a specific action on your website, such as filling out a contact form or making a purchase. Tracking conversions can help you understand how effective your website is at converting visitors into customers and how well your SEO efforts are driving qualified leads. Backlinks Backlinks refer to the number and quality of external links pointing to your website. Tracking backlinks can help you understand how well your website is building authority and reputation in your industry and how competitive your industry is. Learn a bit more about Backlinks for real estate. How to evaluate a real estate SEO expert for your business If you're looking for a real estate SEO expert for your business, there are several things to consider. Here are some tips for finding the right real estate SEO expert for your business: Look for Experience and Expertise When choosing a real estate SEO expert, it's essential to look for someone with experience and expertise in the real estate industry. They should be familiar with the unique challenges and opportunities of the industry and have a deep understanding of search engine algorithms and best practices. Check References and Reviews Before hiring a real estate SEO expert, it's essential to check their references and reviews. Look for reviews and testimonials from previous clients, and ask for references that you can contact directly to hear about their experience working with the expert. Ask About Their Strategies and Tactics When interviewing potential real estate SEO experts, ask them about their strategies and tactics for improving your website's search engine rankings. They should be able to explain their approach in clear and understandable terms and provide examples of their success in the past. Evaluate Their Communication and Collaboration Skills Effective communication and collaboration are crucial when working with a real estate SEO expert. Look for someone who is responsive, transparent, and easy to work with, and who can collaborate effectively with your team to achieve your SEO goals. At Realtyna, we have some best Real Estate SEO Experts who are professional in Real Estate marketing. if you care about your website's performance in search results, you can hire us to do Search Engine Optimization for your website, if you are interested or want to know more about our SEO plans for your business, check out the Realtyna SEO packages. Conclusion In conclusion, a real estate SEO expert is a crucial component of any real estate business's digital marketing strategy. They use their skills and expertise to improve website visibility, drive targeted traffic, and increase conversions. By conducting thorough keyword research, implementing on-page and off-page optimization techniques, and tracking and measuring success, they can help your business dominate search engine results and surpass your competitors. To view the original article, visit the Realtyna blog.
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Real AI: Wearable AI, Canva Masters Image Generation, and 5 New AI Facts
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. AI you can wear AI is likely to dominate your holiday shopping — and not just providing you scary-accurate recommendations on Amazon. A blitz of AI wearables is underway, according to news site Axios. Here are just a few early notables: Smart Glasses: Ray-Ban and Meta have teamed up with a new line of smart glasses. Talk about its potential for open house security. They look just like regular Ray-Bans, but include a built-in, ultra-wide 12 MP camera, a five-mic system, and open-ear speakers that they tout are comparable to top line earbuds. Say "Hey Meta" for instant answers because it's paired with your smartphone and is 100% voice command. You could stream your open house on Facebook Live. It's almost like wearing an undetectable body cam. Preorders ship on Oct 23. AI Pin: Startup Humane, led by former Apple star Imran Chaudhri, the AI Pin just debuted on a Paris runway. It has not been demoed publicly, yet reportedly it is a wearable screenless device that "uses a projector to allow its simple user interface to appear on a hand or other nearby surface." Rewind Pendant: For $59, Rewind.ai is offering a neck pendant that can record conversations and transfer them to your smartphone. The AI trick: its software can sort through and extract insights from all that audio you record, creating a sort of searchable database of information obtained from the audio content. Sounds like an agent would never have to take notes again. Tab: Billed as "it's always listening," Tab is a smart wearable that documents all your conversations "ingesting the context" of your life, according to founder Avi Shiffmann. But you won't find this gift wrapped this holiday, as it is not due to release until Spring 2024. Schiffmann told Axios, "Talking to Tab feels like a late-night conversation with a friend… It's a much more natural way of interacting with tech." Is it just me or do these sound like something created by Q in a James Bond movie, just less deadly? Canva offers AI for everyone else Ask every teacher you know if they use Canva, the online alternative to Photoshop, and you will rarely hear a "No." Canva became the ubiquitous online design site by offering its service free to educators for years. It used to be a pretty good tool. Now it just rang the awesome bell. I've used it for quick projects for a long time, but I'm about to become a subscriber because of its new AI integration. The ease of using AI to create incredible images is stunning. It offers not just one but access to three leading tools: Magic Media, DALL-E (soon to be incorporated into its sister product, ChatGPT), and Imagen by Google Cloud. Canva had me at Media Magic. Canva currently is providing a link to test its AI Image Generator for free here. I'll probably write more later about Canva because I think every agent in the world should now subscribe, but look what it did with this prompt (I live on Bainbridge Island in Washington outside of Seattle): "A Bainbridge Island home, classic two story with a two-car garage American Craftsman style white wood panel siding with a standard shingle roof." The center photo is the output: Think royalty-free stock photos. Again, free. The results are SO much better than what I have obtained from dozens of tests with DALL-E 3. Think of the marketing possibilities using a royalty free photo like this. No angry clients calling you to ask who gave you permission to include a photo of their home inside your promotional brochure. I sent this photo to a friend, Jason Shutt, a top broker at Windermere on Bainbridge, and his reaction was classic: "The grass growing in between the spacing in the concrete on the driveway!!!" Yep, just like my Bainbridge home. Do not underestimate the power of AI. AI Five Fast Facts More than 80% of U.S. adults say the industry should invest more to ensure that AI will be applied fairly, safely, and securely. That's an 11-point jump since November 2022. Most U.S. adults express reservations about AI for uses such as government benefits and healthcare. Only 39% believe AI is safe and secure, and 78% worry that AI can be used for malicious intent. More than 85% of U.S. adults surveyed believe making AI safe and secure for the public should be a nationwide effort across government, industry, and academia. There is a generational divide on AI's benefits vs. concerns. Over 57% of Gen Zers and 62% of millennials are excited about AI's potential benefits. In contrast, 70% of baby boomers are concerned about the potential risks of AI. More than half of employed U.S. adults show concern about AI replacing them on the job. Source: MITRE and Harris Poll, July 2023 AI Headlines: Take 5 Tom Hanks Warns Fans About 'AI Version of Me' Promoting Dental Plan: 'I Have Nothing to Do With It' | Variety - 10/1/23Tom Hanks is not asking you to get your teeth cleaned. That's an unauthorized AI version of Hanks, according to the real Tom Hanks. We think. AI takes Manhattan: The robot realtors of NYC are here to stay | New York Post - 9/29/23AI assistants are helping New Yorkers find their dream homes. Kinda. Architects vs AI: the battle for the future starts now | BIMplus - 10/3/23Architects and architecture professors address their feelings on AI. Conflicted. Meta is paying celebrities millions for AI Chatbots | The Information - 10/5/23A new way to get paid: the Facebook and Instagram parent is paying Tom Brady, Snoop Dogg, Charli D'Amelio, and others to create AI fictional characters with their likeness. "Hey Tom…" Seattle-based photo giant Getty Images embraces AI technology | Seattle Times - 10/2/23The company is taking a two-pronged approach to the threat and opportunity that AI poses to its business. If you can't beat 'em, join 'em. Quote of the Week To view the original article, visit the WAV Group blog.
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5 Emerging Technologies That Will Redefine Real Estate
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[Podcast] How RPR is Helping Realtors Navigate a Challenging Market, with Reggie Nicolay
There's a twist to this month's Decoding Real Estate as the show welcomes host-turned-guest Reggie Nicolay! As the VP of Marketing and Social Media at RPR® (Realtors Property Resource®), Reggie is a real estate tech and marketing thought leader. And the only thing he knows better than that, is RPR itself! He's also married to a very successful full-time agent, which gives him a special POV on real estate pain points and challenges. And he has first-hand knowledge on how the latest and greatest RPR data-centric tools on local market trends can help ease and solve them. Host Genie Willett taps into Reg's years of experience and RPR mastery to discuss and highlight RPR's very busy 2023, including: the "Master the Market" eBook series, Shareable Market Trends, the Shareable Market Trends ScriptWriter, free Canva templates, the RPR app and more. Tune in to get the scoop on how RPR is helping REALTORS® navigate their way through this tough market. Don't miss this month's Decoding Real Estate with guest Reggie Nicolay! Decoding Real Estate is hosted by Reggie Nicolay and Genie Willett. Subscribe/Follow And be sure to check out these helpful and relevant links: Realtors Property Resource RPR's "Master the Market" eBook series RPR Shareable Market Trends RPR Shareable Market Trends ScripterWriter tool RPR Canva templates Download the RPR Mobile™ app RPR Blog Listen on: Apple Podcasts Google Podcasts Spotify To view the original article, visit the RPR blog. Thank you to RPR for sponsoring this article on RE Technology!
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How Often Are Agents Alone With Prospects? (And How Dangerous Is That, Really?)
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Key On-Page SEO Optimization for Realtors
Thank you to Real Estate Webmasters for sponsoring this article on RE Technology: In today's digital world, buyers are switching online to find their dream home. Refining your Search Engine Optimization (SEO) strategy is becoming even more crucial to put your property listings on the spotlight. On-Page SEO Fundamentals The components of on-page SEO include your website's content, keywords, meta descriptions, images, links, page speed, and URL structure. Imagine it as staging a property, and you want to refine each element to ensure that you attract potential buyers. With on-page SEO optimization, remember that content is king. Publishing high-quality, relevant content is essential to rank high on other search engines. Google aims to connect users with websites that will best match their queries, so irrelevant and poor content will only negatively affect your SEO score. Don't forget that page speed is also an important factor, which Real Estate Webmasters' Renaissance platform is known for. Real Estate Webmasters' PageSpeed results show full 100 scores. Keywords Meta Keywords are the words or phrases that most users are using on their search. Strategically placing them on headers, titles, and meta description is key so search engines can gauge the relevance of your content. Consider user intent when choosing your keywords and use long-tail keywords (long phrases) like "ocean view houses in Nanaimo, BC" to attract a specific audience. Additionally, you can utilize Google's Keyword Planner, or Ahref's Keyword Explorer to choose the best keywords for your campaign. Long-tail keywords' performance on search engines. Meta Tags The title tag and meta descriptions are the two most significant meta tags you should focus on. The title tag, or more known as the headline, should ideally be under 60 characters. Meta descriptions, on the other hand, provide a quick overview of what your page is about. It is better to keep it under 160 characters and to include a call-to-action (CTA). Image Optimization Image optimization in SEO is not just about the visual appeal, but about ensuring that search engines can understand your image easily. This entails load speed, and using descriptive file names and alt texts on your images. Furthermore, it is important to compress images, use relevant file formats and responsive images to get high points in this aspect. URL Structure Aim to have clear and descriptive URLs so that visitors and search engines will not have difficulties figuring out the content of your page. Here are some pro tips– keep your URL short and memorable, avoid special characters, and use lowercase. Don't forget to also include important keywords! Internal Linking Internal linking helps guide your visitors to different pages of your website. For example, a blog post about your services can link out to one specific offering or service. To take full advantage of internal linking, remember to use descriptive anchor texts, link to deep pages, and not to overdo it. Stuffing your page with links can be off-putting. How Real Estate Webmasters' SEO Pillar Structure supports internal linking. Conclusion Now that you know the basics of on-page SEO, try optimizing your website and see how it will improve your online visibility. Alternatively, you can reach out to Real Estate Webmasters for expert assistance with your SEO, PPC, and custom website needs. This is a condensed version of a blog that was initially posted on Real Estate Webmasters' website.
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4 Ways Technology Can Help Real Estate Agents Achieve Work-Life Balance
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Accelerating New Construction Sales with Innovative Marketing Tools
Selling new construction offers numerous advantages that can greatly enhance a real estate professional's portfolio and make it an attractive niche within the ever-evolving world of real estate sales. The allure of pristine, untouched properties and the promise of modern amenities and design innovations often appeal to a broad spectrum of buyers. In this dynamic and competitive market, staying ahead requires innovative strategies that not only captivate potential buyers with immersive and engaging experiences but also streamline the sales process. If you are already a part of this thriving industry or are considering entering it, three indispensable marketing tools can help you unlock the potential of new construction real estate: Architectural Renders, 360° Render Virtual Tours, and 3D Floor Plans. These tools are the keys to generating leads and ensuring swift, successful sales in a realm where visual appeal and clarity can make all the difference. Find out how these tools can revolutionize your property marketing, leading to quicker deal closures and enhanced efficiency for real estate professionals. Architectural Renders: Bringing Dreams to Life for Buyers Architectural renders are visual representations of a property that help potential buyers see what a space will look like before it's built. These highly detailed and realistic images offer a glimpse into the future, allowing buyers to visualize themselves living in the property. Here's how architectural renders can accelerate property sales: Increased Engagement: Renders generate excitement and interest among potential buyers by presenting the property in the best possible light. Buyers are motivated to inquire about properties that excite them and capture their imagination. Reduced Ambiguity: Renders eliminate ambiguity and help buyers understand the property's layout, design, and potential. This reduces the likelihood of misunderstandings and disappointments. Customization: Renders can be customized to showcase different design options or renovations, catering to various buyer preferences. This flexibility can attract a wider range of potential buyers. Virtual Tours: Providing Buyers with an Immersive Experience Virtual tours offer a convenient and immersive way for buyers to explore properties. You can tour unbuilt homes with 360° Render Virtual Tours. Use this cutting-edge tech to provide a comprehensive view of a property's interior, allowing potential buyers to navigate through it as if they were physically present. Here's how 360° Render Virtual Tours can speed up new construction property sales: Immersive Experience: Capturing every aspect of the property's architecture and design, Render Virtual Tours allows buyers to move freely within a property from anywhere in the world. Buyers can "walk" through rooms, explore different angles, and zoom in on specific details, closely mirroring the physical experience of property exploration. Enhanced Understanding: Buyers can gain a better understanding of the property's layout, flow, and overall feel through virtual tours, leading to more informed decisions. Save Time and Qualify Leads: Real estate professionals can focus their efforts on serious buyers who have already taken a virtual tour, saving time and increasing the chances of closing deals. 3D Floor Plans: Delivering Dynamic Clarity and Precision Floor plans provide a bird's-eye view of a property's layout, helping buyers envision the spatial arrangement. 3D Floor Plans take this essential marketing tool to the next level by adding intricate detail. Here are ways in which these cutting-edge plans can accelerate new construction sales: Enhanced Visualization: 3D floor plans provide a detailed and immersive representation of a property. Vividly showcasing colors, textures, and materials, 3D floor plans help buyers gain a deeper understanding of the property's layout, flow, and spatial relationships — making it easier for buyers to envision themselves living in the space. Increased Engagement and Transparency: 3D floor plans minimize the likelihood of misunderstandings or layout misinterpretations. Buyers can efficiently compare various properties and layouts, facilitating quicker decision-making. Furthermore, these plans enable buyers to readily evaluate if the home's arrangement suits their lifestyle. Competitive Advantage: Incorporating 3D floor plans into your listings can give you a competitive edge in the real estate market. It demonstrates your commitment to delivering high-quality and informative listings, setting you apart from the competition and appealing to discerning buyers. In the fast-paced world of real estate, staying ahead of the competition and meeting the evolving needs of buyers is essential. Incorporate these technologies into your marketing strategies and create compelling property listings that attract more buyers and close deals faster. Selling new construction? Get a free Renders quote today. New customers at BoxBrownie.com can take advantage this free sign-up offer: Get 4 FREE photo edits now, no credit card required.
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The ROI of Renovations: Explaining the Financial Potential of Renovating Before Selling
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10 Ways Virtual Assistants Can Help Agents Boost their Social Media Presence
In the fast-paced world of real estate, staying ahead of the competition is paramount. One of the most effective ways to do so is by maintaining a strong social media presence. However, many real estate agents find themselves juggling multiple tasks, leaving them with limited time and energy for social media marketing. This is where virtual assistants come to the rescue! In this post, we'll explore how virtual assistants can be your secret weapon in boosting your social media presence, helping you shine in the crowded real estate market. 1. Content Creation and Curation The foundation of effective social media marketing is compelling content. The work of producing and collecting interesting content for your social media platforms can be delegated to virtual assistants. They are capable of creating catchy captions, striking graphics, and even enlightening blog posts about the neighborhood real estate market. You can consistently deliver engaging content that is current and relevant with the help of a knowledgeable virtual assistant. 2. Social Media Scheduling Social media marketing requires consistency, but posting frequently can be time-consuming. Even if you're buried in real estate negotiations or showings, a virtual assistant can set up a content calendar and schedule posts in advance. This allows you to maintain an active online presence without sacrificing your other responsibilities. 3. Audience Engagement Building deep connections and trust with your audience requires engagement. Virtual assistants can keep an eye on your social media pages, reply to comments, and interact with your audience on your behalf. They are able to respond to questions, express gratitude for positive comments, and quickly resolve issues. This individualization helps build your credibility and strengthen client relationships. 4. Analytics and Insights You need data-driven insights to adjust your social media strategy. Reach, engagement, and conversion rates are examples of social media metrics that virtual assistants can collect and analyze. You can use this information to better understand what's working and what needs to be improved, which will help you make decisions that will maximize your online presence. 5. Research and Trend Analysis It's crucial to keep up with the most recent trends and advancements in social media and real estate. Virtual assistants can monitor market developments, tactics, and new social media sites. They can give you reports and suggestions on how to change your strategy to stay current. 6. Ad Campaign Management Reaching a larger audience can be accomplished with the help of social media advertising. The creation of ad copy and graphics, audience targeting, and performance tracking are all tasks that virtual assistants can handle when managing your advertising campaigns. This guarantees a wise use of your advertising budget and a significant return on investment. 7. Content Calendar Planning Any effective social media strategy is built on a solid content calendar. A content calendar that is customized to your unique objectives and target audience can be created and managed by virtual assistants. This makes sure that important dates, like real estate listings and open houses, are highlighted and that your social media posts are in line with your overall marketing strategy. 8. Crisis Management Real estate is a fast-paced industry, and problems can happen at any time. Your first line of defense when handling crises on social media can be your virtual assistants. They can assist in maintaining your professional image and averting potentially damaging incidents, whether it's responding to negative feedback or handling delicate situations. 9. Brand Consistency In branding, consistency is essential. The voice, tone, and visual identity of your brand can be maintained across all social media platforms with the help of virtual assistants. Your online presence is strengthened and potential clients are more likely to remember your real estate agency thanks to this consistent branding. 10. Time and Stress Savings Last but not least, using a virtual assistant can help you save time and feel less stressed. You can free up your time to concentrate on what you do best: selling properties and providing excellent client service by giving them the social media tasks to handle. To be successful in the real estate business over the long haul, one must maintain this work-life balance. In conclusion, virtual assistants are invaluable allies for real estate agents looking to boost their social media presence. They can handle everything from content creation and scheduling to audience engagement and crisis management, allowing you to shine in the competitive real estate market. With their support, you can build a strong online presence, connect with potential clients, and ultimately, close more deals. So, don't hesitate to explore the world of virtual assistants and give your real estate business the social media boost it deserves. Your success awaits! To view the original article, visit the Transactly blog.
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Our Top 10 Most-Read Articles of September: New iPhones, Realtor Safety, and More
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6 Ways Digital Home Management Platforms Help Agents Keep Clients Forever
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. October's theme is "Never Lose Another Client." Read on for tips and tricks on maintaining long-term relationships with your clients: The real estate industry naturally focuses on finding active buyers and active sellers, which runs between 4 to 6 million home transactions in any given year. But what do agents, brokerages, and the industry do to help the other 115 million homeowners who either recently completed a transaction or are happy in their current home? The challenge for agents and brokers is staying relevant, providing additional value, and maintaining brand presence during the long-term span between transactions in the hope of getting repeat business. Sending emails via a CRM wishing them a happy holiday is a nice gesture, but doesn't go very far. Sending them reports about market conditions in their neighborhood is nice, but not really relevant if they plan on living in their new home for five to seven years. Digital home management platforms are a relatively new concept that helps homeowners manage their home while providing agents and brokers with a way to never lose them. Let's dive into six ways these new digital home management platforms work for agents and brokers. Help Clients Actually Manage Their Largest Financial Asset An agent's client just moved into and set up their new home. Now what value is the agent providing? Homeowners need a maintenance schedule with reminders over what tasks to do to minimize repair costs on the home's building materials, appliances, and equipment. They need to keep energy costs low by having a home that operates efficiently. Homeowners need guidance on how to budget and plan for home remodel projects  and advice on how to hire a contractor. Homeowners need to budget and track their total cost to own the home, including insurance, property tax, utilities, mortgage, and other regular home services such as landscaping, pool maintenance, security monitoring and other services. Homeowners need to track their mortgage balance and their home equity to understand how their financial investment in their home is performing. Digital home management platforms like HomeZada bring all these things together into a single platform that empowers homeowners to manage everything about their home in one place. Homeowners can also save all their documents about the home including closing docs, mortgage docs, insurance policies, receipts, invoices, etc. Proactive and personalized reminders and emails keep the homeowner engaged and knowledgeable on what and how to manage their home. Help Homeowners Become Climate Resilient Every homeowner across the country faces changing seasons and weather conditions that create risk for their home. How many agents have clients who have had to deal with hurricanes, tornadoes, wildfires, thunderstorms, deep freezes, blizzards, hail storms, flooding, heat waves, etc. over the last few years? Probably just about everyone. Digital home management platforms such as HomeZada have integrated with the National Weather Service to provide real time alerts and push notifications based on your home's address of severe weather events that can significantly impact your home. In addition, every insurance company recommends a home inventory. Home management platforms provide homeowners an easy way to upload videos and photos and process it via AI to make sure your clients are properly insured and prepared in case disaster strikes and they need to file a claim. Be Relevant, Personalized, and Engaging Agents and brokers can build their branding inside of some digital home management platforms. Depending on the platform, the branding can be displayed on any device including desktops, tablets and mobile devices. This is important because homeowners, from millennials and gen z, expect mobile access while many boomers and seniors still prefer desktop access. Digital home management platforms often times create personalized pre-populated data about their specific home at sign-up and send out regular monthly email and push notifications. This combination of personalized and relevant information keeps homeowners engaged, on average, two to three times per month where agents get the benefit of automated branding at every login and every email. Be Innovative and Deliver AI to the Homeowner Clients ChatGPT and other generative AI technology has exploded in the marketplace. Consumers and professionals know it will change the game but are not exactly sure how. Think about all the questions a homeowner has during the five to 10 years of owning their home — from home finances, home improvement projects, research on which brands and types of products to put into the home, to home maintenance questions and more. HomeZada has integrated ChatGPT as a Home AI Assistant into its digital home management platform, empowering consumers who use it to become smarter homeowners. The benefit for agents and brokerages is that your brand is the one delivering the AI technology to your clients. You are the hero over multiple years, with no effort after the initial onboarding process. Opportunity to Market Other Home Products and Services Many brokerages offer other products and services such as insurance, mortgage, home warranty, and more either that are company owned or via a preferred partnership. Some digital home management platforms have built-in ad and content platforms that allow brokerages to market these other lines of business within the user interface. This gently influences engaged clients in the digital home management applications to do more business with the broker's companies and partners. You may not have won the first year of the customers home insurance or home warranty business, but ad content platforms mean you could get clients to switch and generate new business opportunity while they are still living in their current home. Build Brand Preference for Future Listing Opportunities All 120 million current homeowners in the US are potential leads to win when they decide it's time to sell their home. Some consumers are planning on selling in the next three months, or the next year, in three years or in 10 years. The real estate industry's challenge is how to get their brand in front of those current homeowners so when they are ready to sell, the brokerage and/or agent has built their brand preference in a value-added way. Use digital home management platforms to help any current homeowner you are in contact with or in your marketing sphere. They all need these platforms to better manage, maintain, protect, and improve their largest financial asset. Brokerages and agents who use digital home management platforms will have built up a brand preference for several months or years and are likely to get a listing agreement because they have been helping homeowners manage their home for years before. Summary Homeownership is a lifecycle that never ends. It starts with buying your first home and owning it. Then comes the time to sell it and buy another one. This happens many times over the course of most people's lives. Agents and brokerages provide the core of their services for people buying and selling. But the owning phase is the longest in duration and one where consumers need help managing their homes, and the real estate industry needs to be value-added and relevant to keep clients for life. John Bodrozic is the Co-Founder of HomeZada.
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Real AI: Legal Minefield, 5 Facts and AI Meme of the Week
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RPR Mobile: Why It's the Must-Have App for REALTORS
Thank you to RPR for sponsoring this article on RE Technology: We hate to sound like a broken record, but the mobile application provided by RPR® (Realtors Property Resource®) should be on every REALTOR's phone. The RPR app is akin to carrying around the entire RPR website in your pocket or purse: it's jam packed with property data, reports and tools. With it, agents are as equally productive as when they're in the office at their desktop. In this article, we're going to highlight all the tangible features and capabilities of real estate's most powerful app — and put a spotlight on all the intangibles that make it an indispensable tool. The RPR app: your go-to when you're on the go The RPR app is a convenient and comprehensive resource for REALTORS®, which can be especially helpful when agents are out in the field with clients, hosting open houses, door knocking, etc. It can also be used for commercial property research, trade area analysis and transaction based tasks. The app gives real estate professionals instant access to a wide range of real estate data and task-completing tools. Here's a list of what can be tapped into and utilized by REALTORS® with the RPR app and why it's considered a "must-have" for their business: Property Information: RPR's database is the largest in residential and commercial real estate, and includes details on over 160 million properties in the country. With the app in hand, a REALTOR® can get instant property information, including tax records, assessments, transaction history, ownership details, and more. It's the perfect tool for researching properties and providing accurate data to clients and prospects. Client-Friendly Reports: Use the app to generate professional-looking, branded reports for clients. Property Reports, Seller's Reports, School Reports and Market Activity Reports can be created on your phone and shared in just a few button taps. They're especially handy at open houses or canvassing a neighborhood. Clients and prospects will be amazed at how much info you can share in such a short amount of time. CMAs: RPR offers Comparative Market Analysis (CMA) tools, which allows REALTORS® to build an accurate CMA even when they're out in the wild or away from their desk. The ability to use pricing tools and send the results to clients in minutes can definitely leave a favorable impression. Shareable Market Trends: Real estate is local and homeowners and potential home buyers crave up-to-date market stats for their particular area. You can deliver these hyper-local neighborhood insights with RPR's Shareable Market Trends. Just look for the "Market Trends" tab at the bottom navigation bar and tap into a world of revealing market stats, charts and graphs for a specific area. Better yet, you can share these numbers with clients, or out to your social sphere, with just a few "taps." New Pricing Tools: Recently added, the RPR app now boasts two new features: an Equity Calculator and a Mortgage Calculator. For homeowners who aren't completely clued-in to their home's equity figure, the easy-to-use Equity Calculator can be a real eye-opener and a great conversation starter. For your buyer clients, the Mortgage Calculator provides a ballpark, big picture on how much home can be afforded. This can aid in realistic budget discussions, narrow down home searches, and ultimately help your clients make better informed decisions. Mapping and Geo Data: The maps in the app are powerful! The mapping features allow the user to overlay various data layers onto a map area. This can help in identifying trends, understanding neighborhood demographics, school searches, searching from particular points or within a certain radius, and assessing market conditions. The Buyer Tour: Currently an app-only feature in RPR, the Buyer Tour easily allows agents to select properties and determine an order to tour them. Then they can create a colorful, client-friendly report to share with their buyers. It's a great way to set up a schedule and keep a record of what was viewed, and what was liked. Commercial capabilities: RPR also offers a commercial version of its app. In fact, it's the exact same app, you simply toggle over to "Commercial" from "Residential" (this can be done from the login screen, or on the home screen by tapping the gear icon in the upper left corner). Commercial practitioners can use the RPR app to access commercial property information, keep tabs on market conditions, research properties, search listings, assess investment opportunities, identify optimum sites, and create commercial property and Trade Area reports. NAR Member Benefit: RPR, and the RPR Mobile™ app, are provided as a member benefit by the National Association of Realtors. This means the app is built exclusively for REALTORS®. If you're a member, your dues are paying for it, so you should be using it! Want to impress clients? Get a grip on any situation with the RPR app As you can tell, the RPR app offers a laundry list of features and offerings. Agents can use it to solve or service almost any real estate situation. However, using the app also checks some intangible boxes that can really foster the agent-client relationship. For example, using the RPR app sets you up to: Conveniently respond and deliver in minutes: Emailing and texting reports, CMAs, Market Trends and answers to questions from your phone is a sign that you're dialed in and know your stuff. That last thing clients want to hear is, "I'll figure that out when I get back to the office tomorrow." With the RPR app in hand, you'll answer that question on the spot. Build confidence (in your clients and in yourself): If you're out with a client looking at a home, and they ask you a question about the place across the street, and you have an immediate answer? That's an immediate confidence boost. The RPR app can help you handle these curveball questions and hit them out of the park. One RPR user describes this type of app-assisted knowledge as "listing intel," and we couldn't agree more. Build trust: Providing your clients with up-to-date housing market information goes a long way in building a rapport and positioning yourself as a local market expert. Your clients may know a little, but they look to and lean on you for experience and guidance. The ability to discuss what type of market we're in, and how the inventory shortage is affecting sales and prices, what the listing to sales percentages mean and so forth, is trust-building knowledge that you can deliver, even when you're out and about. The RPR app can be the foundation of your tech stack If you have the app and haven't used it in awhile, it's time to take another look. RPR has added a ton of new enhancements that can have an immediate effect on your response times, skill-building and your bottom line. And if you don't have the app on your phone, it's time to download it and add it to your tech stack. To view the original article, visit the RPR blog.
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From Gmail to Drive: 25 Essential Google Tips Every Real Estate Agent Should Know
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Boost Your Real Estate Game with REW Academy
Thank you to Real Estate Webmasters for sponsoring this article on RE Technology: Comprehensive Training for Modern Realtors® The internet is brimming with "how-to" videos on a myriad of topics. However, discerning the best quality information on real estate marketing can be challenging. This is where the REW Academy steps in as a beacon of knowledge for industry professionals. With its revamped access, the academy is now even more accessible, providing invaluable insights on scaling businesses, mastering digital marketing, and utilizing the advanced tools offered by Real Estate Webmasters. Disclosure: This article is a summary of the original found on Real Estate Webmasters' website. New Access The REW Academy has revolutionized its access, making it more user-friendly and intuitive. Gone are the days of intricate navigation. Whether you're an experienced Realtor® or a newcomer, the academy welcomes you to immerse yourself in a wealth of real estate-centric knowledge. This enhanced method not only simplifies but also augments the learning journey. Key Features and Benefits REW Academy stands out with its short courses tailored specifically for the contemporary Realtor®. These courses guide you in scaling your real estate business sustainably and profitably. Delve into the intricacies of SEO and PPC to ensure your business shines in the digital realm. Each module is meticulously crafted to provide actionable insights and strategies. But the REW Academy isn't just about imparting knowledge; it emphasizes practical application. Realtors® armed with the academy's teachings find themselves at a competitive advantage, likely attracting more clients and closing deals more efficiently. Mastery of digital tools like SEO and PPC amplifies visibility and ensures targeting to the right audience, making it a game-changer for real estate professionals. However, while the academy caters to all, some advanced courses, especially those taught by Real Estate Webmasters' CEO, Morgan Carey, are best suited for those who have a foundational knowledge of topics like SEO. Website and CRM Tools In addition to its courses, Real Estate Webmasters offers an integrated suite of website and CRM tools that complement the academy's teachings. These tools, tailored for the modern real estate sector, ensure that everything you need is within reach. From managing client relationships to enhancing your online footprint, REW's tools perfectly align with the academy's courses. Conclusion The REW Academy is not just another source of generic digital marketing content. It stands distinguished as a beacon for real estate-specific training, guiding professionals on their path to success. With its revamped access, a rich array of courses, and integrated tools, it's an invaluable asset for anyone earnest about leaving a lasting imprint on the real estate industry. Embrace the REW Academy and let it be the driving force behind your monumental success.
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12 Clever Ways the Apple Watch Can Improve Agents' Lives
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6 Innovative Ways Real Estate Agents Are Using Artificial Intelligence
The real estate industry may well look back on 2023 as the year that artificial intelligence (AI) became useful in a tangible and measurable way. Any number of products and tools have adopted AI to enhance their effectiveness, to the benefit of real estate agents everywhere. Recently, Liz Sturrock, Chief of MLS and Innovation at Miami REALTORS®, shared her perspective on AI in a webinar. She noted different ways that real estate agents are using AI today to save time and money while providing top-notch service to clients. While she doesn't think that AI is going to replace real estate agents, she does think that the agents and brokers who are best able to leverage AI will have a distinct market advantage, so it's a good idea to get on this bus as early as possible. 1. Generate and nurture leads The latest AI tools go above and beyond website chatboxes, which have been in use for some time. Some AI lead generation options are indeed chatboxes, but their ability to answer questions for consumers and even hand off the conversation at any point in time to a human are next-level. 2. Send personalized property recommendations Finding the right house to buy, especially in markets with low inventory (which is just about every market in 2023), can be a challenge. In addition to setting buyers up with an MLS feed, there are AI tools available that can comb listings and deliver recommendations for homes for sale that might have slipped through the cracks for one reason or another. 3. Finally get that blog up and running There are two big reasons why many real estate agents choose not to use their blog or website as a lead-generation tool. The first is that they don't know what to write about, and coming up with a list of topic ideas that are relevant to their audience and that they can write easily is a huge hurdle. The second is that even if they do have a list of topics, they don't have the time to execute on those stories. AI writing tools can solve both of these problems. Agents can ask a chatbot "what should I write about?" or even "what should a real estate agent in the San Francisco Bay Area market write about on their blog?" and then pick and choose from the list of ideas that the chatbot delivers. If they don't have time to write the piece themselves, they can ask the chatbot to do it (always making sure there is time to review it for accuracy before posting online). 4. Write property descriptions Writing a property description that shines takes a certain kind of talent, which not every real estate agent possesses. Thankfully, there are ways to almost instantly generate a property description using AI that both fits the home for sale and highlights its most attractive attributes. 5. Virtually stage and enhance properties Staging is expensive, although it does help sell houses. If agents want to save their staging budgets for the big, splashy listings, AI can insert furniture and artwork into listing photos, as well as make changes (subtle or large) to help buyers envision what the space could look like if they took out a wall or added some windows, for example. It's a good idea to clearly mark any digitally staged or enhanced images so that buyers aren't disappointed and know what to expect when they arrive at the house in person, that said! 6. Ask for business advice For agents without a coach or mentor, AI can answer common questions about business strategy, motivation, and any number of other issues that agents might struggle to manage. "I want to find more listings; what would a real estate coach tell me to do?" is one prompt that can generate all sorts of ideas from an AI chatbot. Or, "I would like to retire from real estate in ten years. How should I start preparing?" How can you stay up to date with the latest AI tools and how people (including agents) are using them? Sturrock suggested two resources: Reddit and a newsletter available at therundown.ai, which curates new AI products and sends them out in a list to subscribers. For more details — including specific product details and recommendations from Sturrock — watch the full webinar.
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Where Do Crimes Against Agents Take Place? Open Houses, Home Showings Are Two Significant 'Danger Zones'
Meeting with strangers in private locations can be an inherently risky activity, and it's something that real estate agents do every day in order to provide their clients with services. But exactly how dangerous is it, or can it be? A recent WAV Group study examined agent safety topics, asking real estate agents if they have ever been the victim of a crime at work, what type of crime they experienced, who perpetrated the crime, and where it happened. The research indicated that open houses and home showings are two locations where agents tend to experience risky situations. 'Have You Been the Victim of a Crime at Work?' Most respondents (62.5% overall) said that they have not been the victim of any crime at work. However, significantly more women than men have been the subject of some type of criminal behavior at work: 24.8% of men reported being the victim of a crime, compared to 44.6% of women. After determining which respondents had been the victim of a crime at work, the survey asked agents who had experienced a criminal scenario at work to share where it took place. Risky Open Houses, Phone Calls, Home Showings More than half of agents who had experienced a crime at work (55.8%) said that the crime took place in one of three locations: At an open house: 20.9% On the phone: 19.8% At a home showing: 15.1% There were some interesting differences between how male agents and female agents who had been the victim of a crime at work responded to this question. Open houses seem to be more dangerous for female agents than for male agents. Of the agents who had experienced a crime at work, 22.5% of women said the crime took place at an open house, compared to 13.3% of men. And female agents are significantly more likely than male agents to experience a crime such as phone harassment. More than one in five female agents who had experienced a crime said it took place on the phone (22.5%), compared to 6.7% of men. This is almost certainly because female real estate agents are inherently attractive targets for perpetrators of phone harassment; their images and their contact information are widely available in the communities where they work. By contrast, significantly more male agents than female agents who had experienced a crime at work reported that the crime took place at a home showing. More than one in four male agents who had experienced a crime (26.7%) said the crime took place at a home showing, compared to 12.7% of female agents who had experienced a crime. Men were also almost five times more likely to say that the crime took place at a private meeting than women, 13.3% to 2.8%. Tips for Staying Safe at Work While brokerages can (and should) implement protocols to help keep agents safe, there is a lot that agents can do themselves to decrease risk and increase their own personal safety. Check in with friends and family. If you're meeting frequently with people you don't know well, establish a check-in system so that the people in your life know where you are supposed to be and when — and can raise an alarm if you're not. Use the buddy system. Bring a friend when hosting an open house, and consider partnering up with others when meeting prospects in private locations. Pre-verify identity of prospects. Before meeting with someone you don't know well, verify their identity, status as a homeowner, and their ability to buy or sell a home right now. Sign up for an answering service. Using an ISA or a third-party service to help you manage your phone calls (and screen them) can potentially eliminate some of the phone-based crimes that agents experience every day. Stay tuned for the full results of the research report, and stay safe out there!
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How Technology Is Streamlining the Renovation Process for Homeowners (And Their Agents)
For decades, home flippers have been purchasing, improving, and re-selling houses primed for strategic renovations to maximize their return on investment, or ROI. Most homeowners have never had access to what it takes to flip their home successfully until recently. A new category of firms specializes in home renovations, streamlining, and simplifying the process by leveraging modern technology. One of the fastest growing areas in real estate today is pre-sale renovation, which essentially democratizes the home flipping process, giving every home seller the potential to flip their home and maximize their ROI. Understanding pre-sale renovations The concept of "pre-sale renovation" might seem new. Still, for years, many individual real estate agents have been helping their sellers by covering the upfront costs of minor improvements as well as professional staging of a home. Homeowners also often self-funded home improvements before listing their homes for sale. Usually, the goal was to make a home market-ready to sell faster. But diving into the DIY route for pre-sale renovations is fraught with challenges, as many homeowners would learn: Extended timelines: Homeowners often underestimate the time and energy renovations might take, discovering that significant delays can become common at several stages of the renovation, and the disruption in their lives can be substantial. Unplanned or hidden costs: Unexpected expenses, whether from discovering something not anticipated or changing plans, can inflate the budget quickly. Inexperience leads to mistakes: Lack of knowledge can result in choosing incorrect materials, overlooking the right improvements to make based on current market intelligence, or not accounting for needed professional assistance, such as a designer. Financial strain: Paying for a renovation out-of-pocket can be challenging for many, and resorting to credit can incur higher total costs, reducing the final ROI. Finding trustworthy contractors: A reputable and reliable contractor is crucial. Without one, homeowners risk subpar work that might not add the desired value or incomplete work if a contractor walks off the job. Navigating building codes and permits: Each locality has its regulations. Overlooking a necessary permit or not providing the correct information can lead to delays, fines, or mandatory changes. Safety risks: DIYing can pose a safety issue, especially when attempting electrical or plumbing work. No value addition: One of the biggest fears is undertaking the effort and costs, only to find it hasn't significantly increased the home's selling price. As you can see, the challenges in going the DIY route are many, and these pain points spawned the pre-sale renovation movement we are seeing today. Using a pre-sale renovation firm as a solution Compass Real Estate was the first real estate brokerage to formalize the pre-sale renovation process and offer it to sellers throughout the markets it served back in 2018. Still, many real estate agents and homeowners are in the dark about pre-sale renovation. It's about making strategic home improvements before listing the home for sale to get the best price possible. Pre-sale renovation ensures a better net gain for the seller once the home is sold. Agents benefit because a higher sales price typically equates to a larger commission. By handling everything from assessing what improvements will yield the highest ROI and having a design team to create a plan, a pre-sale renovation firm arranges the contractors and manages the entire process, often including securing materials, scheduling, and budget creation and maintenance. Perhaps the most significant benefit to most homeowners is that there are no out-of-pocket costs when using a pre-sale renovation firm. The firm pays the expenses, which are reimbursed at closing. Because technology is reshaping the pre-sale renovation landscape, by partnering with a reputed pre-sale renovation firm, agents are empowered with tech tools that eradicate the need for an agent-funded or homeowner DIY approach. New technology is streamlining the renovation process New technology, including artificial intelligence, enables pre-sale renovation firms to automate much of the process. The result is a more standardized and simplified home improvement process for agents and their seller clients. At the core of this transformation is the use of machine learning and computer vision, making the planning and budgeting phase of pre-sale renovations a breeze. Every seller aims to maximize their ROI, but understanding a property's current value, its potential value post-renovation, and the needed improvements to get there is required. Previously, gathering this information was a tedious task, often taking several days. But, thanks to AI, agents can now get rapid insight into a home's current condition and potential post-renovation value. More importantly, using this new technology, agents can show a potential seller during their home listing presentation what a pre-sale renovation could mean to boost their final sales price. For example, a new tool for real estate agents that is in beta testing uses property images to gauge its current worth and its renovation prospects. It then utilizes a renovation recommendation system, providing estimates rooted in budgets supplied by local contractors. For agents, think smart CMA meets AI-powered AVM, delivering a more detailed foundation for discussions to help agents with their listing and pricing strategy when meeting with sellers. The power of using this new tech – that delivers to a homeowner a renovation budget and potential ROI gain – in seconds, what previously took days, creates a "wow" factor that should help agents win more deals. With these new technological advancements, agents can effortlessly discuss the benefits of waiting a little longer before listing with potential sellers. Showing sellers a comprehensive game plan on the spot is a conversation changer. When sellers learn that everything is taken care of, including financing the improvements that are paid at closing, it creates a win-win for them and their listing agent. Closing more deals The real estate industry is rapidly undergoing a technological evolution because of AI, and nowhere is that more true than with pre-sale renovations. These advancements democratize the renovation process, enabling homeowners to leverage tools, capital, and strategies previously reserved for expert home flippers. AI won't replace real estate agents in this new real estate area empowered by AI, but agents using AI will do more deals than those who don't. Michael Alladawi, CEO and Founder of Revive, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive to share his spectrum of knowledge and help homeowners maximize their profits when selling their homes.
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CRMs Are Sloppy. Details Make All the Difference
A CRM is one of the most critical pieces of technology that many agents use; it helps them stay in touch with both current leads and past clients, provides them with a list of critical tasks for each day or week, and helps them keep track of when they last spoke to whom. But that said, there can be danger in using CRM automations without paying attention to what the end user is going to see and refining the details. Here's WAV Group's Victor Lund with a story about a CRM email gone astray. Out of the blue, I received an email from a real estate agent I have known for years. It was a "Just Listed" email. The truth is, I have not received any emails from my friend in a long time, and I get a lot of emails. He sent me the email from an address that was not in my contacts, so it looked like spam. I wondered, why is this random agent sending me a "Just Listed" email when I am not registered for a saved search with them? Bad Formatting Notice how the header file does not line up with the image of the primary photo? I cropped out the broker's name (but that is in the header above the "Just Listed"). This email is from my agent friend, but I was not able to see that without scrolling all the way to the bottom of the page. If my friend is sending me an email, then I would think that their info should be at the top of the page! There Is No Positioning or Narrative Below the primary photo we find the listing details. Again, the alignment is off; the primary photo does not line up with the property details paragraph – bad formatting, again. But the biggest problem here is that there is no narrative from the agent. What I am thinking is that this email should have been personalized. Better Canned Copy Hi {Victor}! I hope you are doing well. As you may be aware, property inventory is very scarce in Spring Valley right now. But I am very excited to share with you that I have a new listing that just came on the market today. If you know of anyone who might be interested, I would appreciate an introduction. This is a great house in a wonderful neighborhood. The copy written above could be hard-coded into this type of new listing alert. It creates a narrative and context for why this person is receiving that email. It hits better, and since I know this agent, I am likely to respond and say something like, "Congratulations," inviting some email dialogue. Clean Up Your Sloppy CRM Listen: CRMs are enterprise software programmed out of the box to automate a lot of tasks for agents that will keep them connected to their clients. These sales tools can work. But it is the broker/agent's job to go into every template email, customize the messages, review the formatting, and QA test the work. This work changes the impact from good to excellent. Transaction volume is down. Invest your extra time in sharpening your saw. Don't let little stuff like this encourage your trusted network of contacts to hit the unsubscribe button. To view the original article, visit the WAV Group blog.
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14 New iOS 17 Features That Were Built for Real Estate Agents
Earlier this month, Apple introduced new products to market, including the iPhone 15. On Monday, the company updated its operating system, iOS, from iOS 16.6.1 to iOS 17. If you're not in the habit of automatically updating your iPhone to the latest and greatest iOS as soon as it's released, you might want to make an exception for this one. The new operating system brings new features, some of them particularly relevant for real estate agents. Here's what's new and how you can get the latest version of iOS onto your iPhone. Check In for safety A new feature in the native Messages app will allow iPhone users to Check In with family members or friends when you've arrived safely at a destination, including your home. The Check In feature will also work for a preset time duration instead of arrival at a location. For example, if you are going to be meeting with a client somewhere and the meeting doesn't involve a location change, you can set up a Check In that will alert your friends and family if you don't confirm that you are safe after a specified time. For agents who are diligent about personal safety and who make a point to check in with people, this could be a good alternative to paid apps that provide the same service. If you don't respond to the Check In prompt (sent after your time duration is up or if you are not making progress toward your destination for more than 15 minutes), the app will share your phone's current location with the specified users, as well as information about your phone's battery and cellular connectivity status. Messages now also supports location sharing right in the app. Users can use the new Location feature within Messages to tell friends, colleagues, and loved ones where they are. NameDrop Agents who don't have a digital business card but who do have a compatible iPhone will definitely want to check out this feature. First, there's been an update to the Contact Posters options on iPhone. This is the contact information that you can share with other people, including different treatments for photos, your Memoji, and your name. You can now include your pronouns on your Contact Poster if you want to do that. These Contact Posters will now show up when you make a phone call or FaceTime someone, and you can now exchange your contact information with someone (your name, Contact Poster, and a phone number or email address of your choice) simply by bringing your iPhone in proximity to their iPhone or Apple Watch. You can also share content or start a SharePlay session via AirDrop by placing two iPhones running iOS 17 near each other. And AirDrop transfers will continue even after you move your Apple device away from the other Apple device. A better keyboard One of the big pieces of news has been around the "smarter" autocorrect in iOS 17 that uses "a new transformer language model," a deep learning neural network architecture that is designed to make your autocorrect more accurate across languages as well as improve typing predictions. Yes, this includes four-letter words and their derivatives. The keyboard will also now underline in a faint blue any autocorrections or suggestions it's made, so you can easily tap on the word and restore it if your phone got it wrong. FaceTime advancements If you like using FaceTime to communicate with your clients, there are some new features you'll almost certainly love. You can now leave a video or audio message if someone doesn't pick up your FaceTime call. And there are new reactions and gestures available in the app: "Layer screen effects like balloons, confetti, stormy rain, fireworks, or laser beams directly into your camera feed," says the Apple iOS release guide. You can trigger them by tapping or using certain gestures on the phone. New dual SIM functions If you're using dual SIM cards in your iPhone to manage personal and business lines (or multiple business lines), you'll be happy to hear that you can now set up different ringtones for each SIM as well as choose either SIM to return a call from unknown callers. You can also now sort text messages by SIM card. More weather info in Weather The updated Weather app promises more detailed precipitation forecasts (by the hour over the next 10 days), wind overlays, historical trends, yesterday's weather, and more granular location names — you can search weather by neighborhood in select cities. Maps with more muscle If you use Apple's native Maps app (and even if you don't), here's something exciting: You can download maps to use when your phone doesn't have a cell signal or access to WiFi, including estimated times of arrival based on historical traffic. You can also get routes for driving, cycling, walking, or public transport on those maps. And if you drive an electric vehicle, Apple Maps now lets you select a preferred charging network, show you the availability for open chargers, and allow you to search for charges based on plug type and other variables. Other improvements There are many other features that the new iOS is offering. Here are some more of the most relevant updates for agents: Live voicemail: You can now see a live transcription of voicemails being left and choose to pick up the call if you decide you want to answer it after all. Verification code cleanup: Messages will automatically delete verification codes after they are used with autofill. Password and passkey sharing: You can create groups to share passwords with, easily share your passwords, and add or edit passwords using Safari. AirPods: A new "conversation awareness" feature allows your AirPods to lower your media volume, reduce background noise, and enhance the voices in front of you so that you can easily hear when someone is speaking to you. Photos: New privacy prompt improvements lets you pick and choose photos to share with an app instead of sharing your entire library. If an app does ask for access to your entire photo library, you can see how many and which photos will be shared before you decide to allow it access. Screenshot saving: You can now decide to save screenshots in Safari, Pages, or Notes not only as images, but also as a PDF. Multiple timers: It's finally available! And you can label timers so you know what each is counting down. Slick. You can see the full rundown on iOS 17 updates in Apple's official iOS 17 Guide. How to download iOS 17 The new iOS is available for iPhones released in October 2018 or later. The two oldest iPhones compatible with iOS 17 are the iPhone XR and the iPhone XS, both released in October 2018. Users of the iPhone SE (second generation) can also download the new iOS. And iPhones 11 through 15 (all versions) are also compatible with the new iOS. To download it, iPhone users should open their Settings app, select General, then tap Software Update. An option to download and install the new iOS should be available for all compatible phones. Make sure you are charging your phone (it will need at least 50% battery available) and that it is connected to WiFi before you take that step. Happy exploring!
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3 AI Prompts That Really Work for Real Estate Agents
One of the most extraordinary things about artificial intelligence is how swiftly the real estate industry has embraced many new AI-powered tools. An industry known as a technology lagger has become an AI leader. 3 Best AI Prompts for Real Estate Agents Real estate agents are eager to harness the potential of AI. If you haven't taken the AI plunge, here are three top AI prompts when using ChatGPT that can dramatically improve your marketing and client communications efforts, saving you time and money. Note: For real estate content, there are alternatives, but ChatGPT and DALL-E, both by OpenAI, are the most popular and proven for creating real estate content, especially ChatGPT 4.0, the subscription service at just over $20 a month. 1. Teach ChatGPT to Write Like You Every real estate agent has a unique style of communication. By training ChatGPT to emulate your personal writing style, you can maintain your consistent brand voice across all platforms without investing hours into writing every piece of content. But with all outputs from ChatGPT, remember two rules: never cut and paste but use the output it provides for writing ideas and better descriptions; always verify any data or fact reference and remind it to write for you with fair housing regulations in mind. You are putting your reputation at risk if you don't follow these requirements. Prompt instructions: Step 1: Collect samples of your writing. This can be your previous newsletters, blog posts, property descriptions, client letters, emails, or any other text representing your style that is already public. Step 2: Input your writing samples into the platform. To do this, instruct ChatGPT that you want it to learn your writing style. Ask it to respond, "GO AHEAD," when ready, and you will submit writing samples until it has learned your style. When it has learned your style, tell ChatGPT to "STOP" and wait for instructions for what you want to write in that style. This will allow the AI to learn your writing nuances and patterns. Step 3: Test your new writing model by providing ChatGPT with prompts related to the real estate writing you need. See if the output matches your style. If not, remember iteration is the key: you can give ChatGPT more instructions to adjust and retrain as necessary. Example: Suppose your writing often includes a particular flair for describing homes in poetic terms. Once trained, when prompted with "Describe a beachfront property," the AI might produce: "Nestled where the horizon kisses the ocean, this beachfront haven promises serenity with every ebb and flow of its tides." Make sure you add to every prompt for property descriptions "meeting Fair Housing regulations," again, proofread carefully, and modify for accuracy! 2. Get AI to Organize Your Input in Columns As a real estate agent, you deal with vast amounts of data, from property specifications to client information. Organizing this information can be time-consuming. By using AI, you can quickly categorize and place data into structured columns, saving you time and ensuring accuracy. While at this time we do not recommend entering proprietary or sensitive personal information into ChatGPT, for information that is already public or generic, it could be very helpful. Prompt instructions: Step 1: In ChatGPT, input the raw data you wish to organize. This could be a list of properties with details, client queries, or even a list of blog topics, writing, and publishing dates. Step 2: Specify the columns and titles you want to create. For instance: "Property Address," "Square Footage," "Number of Bedrooms," "City," etc. Step 3: Let the ChatGPT process and organize the data, which will only take seconds to create. Review your results and make any necessary adjustments. Example: The key is letting ChatGPT know that you want the data you provide organized and placed into columns. To create a column-centric document, such as a content or social media plan and calendar, give ChatGPT a list of your blog or social post topics, description, writing deadline due date, and publishing date. Commas should separate the information you provide. It would look like this: "3 ways to maximize your curb appeal, Focus on landscaping – reducing clutter and value of free paint, 11/7/23, 11/9/23, Notes." ChatGPT can automatically place your content into columns and organize them automatically by date. You then can copy and paste the content into your Google Doc, Word doc, or Pages doc for final editing. 3. Use AI Prompts to Create Your Own Royalty-Free Stock Photos High-quality visuals are crucial in the real estate industry, but when you put a photo on your website, in a social post, or a brochure or other promotional piece, have you secured the copyright? Violating copyright law can be expensive, as the fines are steep. Buying stock images can be expensive. Even when you hire a photographer for a photo shoot, it doesn't always mean you have secured all the rights you need to use the images. AI has a solution: platforms. One free option is DALL-E, an AI model by OpenAI, creators of ChatGPT, that generates images based on textual prompts. With the proper AI prompts, DALL-E can develop stock-type photos, offering a cost-effective solution. Best of all, if you have a ChatGPT 4 account, you automatically have access to the power of DALL-E. Prompt instructions: Step 1: Access DALL-E at https://openai.com/research/dall-e, and if you don't have a ChatGPT account, create a new account with OpenAI. Step 2: In the description box, provide a detailed description of the image you want. The more specific, the better the results. Step 3: Let the AI process your request and generate an image. DALL-E will typically provide you with four different versions. Step 4: Review the images. Adjust your prompt and try again if they don't match your expectations. Example: If you're writing a blog post about luxury living, you might prompt the AI: "Generate an image of a luxurious living room with large windows, a modern fireplace, and gold accents." The AI will then produce an image matching that description, ready for you to use. Take the leap! While every real estate agent doesn't have to use AI, those who use AI correctly will be vastly more productive. Remember that the magic lies in the prompt! From crafting communication that resonates with your unique voice to organizing intricate data with ease and even creating striking visual content on demand, the possibilities of finding ways to use ChatGPT every day to improve your communications and marketing are boundless. But like crafting a Comprehensive Market Analysis (CMA), ChatGPT's accuracy hinges on the quality of the input. When creating a CMA, the more relevant and well-selected the comparable properties, the sharper and more reliable the analysis. Similarly, with ChatGPT, the more precise and detailed your AI prompts, the more dynamic and targeted the content you'll receive. Dive into the world of AI with specificity in mind, and you'll begin to unlock a tool that has the potential to elevate nearly every facet of your real estate business. Remember that even though your support team at Tech Helpline are not AI experts, we are here to help you with all of your technology questions and challenges. To view the original article, visit the Tech Helpline blog.
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7 Big Implications of Computer Vision for Real Estate
Having worked in computer vision for the past five years, I've had a lot of time to think about the implications for real estate. I've been fortunate to speak to dozens of highly innovative companies across the entire real estate spectrum on the possibilities it unlocks and the challenges it solves. Despite computer vision becoming more readily adopted, I can't help but feel we're only scratching the surface of its possibilities. Untapping the potential When many people think of computer vision, they think of a technology that identifies things in a photo. Cool, maybe. A party trick, perhaps. But any real estate professional can also instantly identify items in an image. The true value of computer vision lies in being able to do this at scale, literally thousands of photos, instantly, across entire markets. Understanding its impact Imagine, as a real estate agent, you could personally visit and evaluate every property in your market. But that's a pipe dream, right? The logistics of doing this are so preposterous it's something an agent would never even consider. The closest comparison to what computer vision can accomplish may be akin to a seasoned agent with more than 30 years of experience. A real estate veteran intimately knows the ins and outs of their local area, how things have evolved, and what a good deal looks like. However, even their breadth and depth of knowledge are imperfect. And despite their massive experience, most agents only have seen a fraction of the properties in their markets. Enter the game-changer AI and computer vision provide the ability to do this at scale. Computer vision can analyze every single property in a market, in real time, and on a continually updated basis. Moreover, it can track the outliers, identify the trends, deeply understand the data, and, most amazingly, return actionable, easy-to-consume, information. These impactful insights can help agents connect their buyers with their dream homes faster. 1. Tangible applications If this still sounds a bit abstract, let's provide a few examples of the vast capabilities of computer vision. Imagine you're looking at a beautiful home that's priced a bit cheaper than you'd expect. You decide to visit it. But after you drive through the neighborhood, you realize it's by far the nicest home in the area. Computer vision could save you a tank of gas or a charge. Analyzing imagery could instantly show you how the homes you want to see compare in quality and condition to other homes in the neighborhood, ZIP code, or city. Think of what this means if an agent could do this for every home on the market! 2. Doing more Let's say you have a client looking for a modern home. Searching by styles for homes listed in the MLS is notoriously inconsistent. Computer vision can fix that. Imagine being able to tell your client that, on average, only three modern homes are sold in the area they want to live each quarter and that only one is currently on the market. Imagine the time you could save by having this information at the beginning of their search. Knowing this data empowers agents instantly, allowing them to communicate these facts with certainty and helping clients adapt their search process accordingly. Imagine you just read a story featuring five interior design experts who all believe dark countertops are going out of style. However, your background in real estate has taught you real estate is hyperlocal, and that may or may not be true for your market. But do you know for sure what the trend is in your market? Computer vision can unlock this information for you. 3. Data integrity and reliability Many professionals in the real estate industry and other business sectors today ask the same question, "What if AI is wrong?" That's a great question, but it needs to be put in context. It's important to frame this question by considering how we use data to make real estate decisions. Agents know from real-world experience that public records are inconsistent, unstandardized, and may contain outdated information. Aggregated across 3,000+ counties in the US, certain data points may be partially complete in some markets and completely blank in others. Multiple listing services or MLS data is much cleaner. But even then, MLS data isn't perfect and has its limitations. As an agent is marketing the listing, undesirable characteristics may be left out or features embellished. In particularly hot markets, many agents may only populate the MLS's required fields. Even when populated perfectly, data across MLSs isn't perfectly standardized. These gaps, or inconsistencies in traditional datasets, make it incredibly hard to build models or provide insights at scale. There is just too much noise. 4. Solving multiple problems On the other hand, computer vision can scan every image of every property. It can consistently define how variables are treated. Is a stoop a porch? Is a 6-foot by 6-foot cement landing a small patio? While there are a finite number of property details in public records or an MLS listing, computer vision isn't limited to the details that have been traditionally recorded. Looking for an L-shaped kitchen that opens to the living room? Computer vision can see it. Are you interested in homes with red cabinets and Viking appliances? No problem. When it comes to more subjective elements such as a home's style, desirable views, condition or quality, AI can provide a consistent framework to compare different properties to one another. What does this mean? Rather than relying on a local market average price per square foot estimate, you can understand the exact impact a home's condition can have on its price. In short, computer vision enables the most structured, consistent, and complete dataset that has ever been available. 5. Untapped potential Historically, data has often caused frustration, confusion, and misinterpretation. American humorist Mark Twain popularized it this way: there are "Lies, damn lies, and statistics!" But I believe computer vision has changed the game. We now have an opportunity to extract data and examine nearly limitless possibilities that computer vision can unlock at scale. For example, imagine being able to track the images a user interacts with or lingers on to understand what they're genuinely interested in. Amazon, Instagram, and Facebook are already doing this. Imagine an agent meets with a potential home seller. Because of computer vision, the agent can tell the seller that there is an abnormal lack of properties like their current home and that it would likely sell for a 10% premium if they listed now. What seller doesn't want to maximize their sale price? Imagine an agent telling a homeowner that a zero out-of-pocket presale renovation could net them an additional $100,000 to $125,000 more if they made improvements before they list. That's what Revive's new Vision AI offers agents. Or if an agent could show a buyer the post-renovation value of three homes they're considering, with an estimated 50k renovation budget yielding an increase in equity of $100,000, $120,000, or $200,000, depending on the home they pick. 6. Broadening the scope Computer vision can do more than help real estate agents and their buyers and sellers. The potential impact is just as striking in the appraisal, insurance, and mortgage industries. Home age and roof age are common data points for valuations, but depending on many factors, such as climate, materials and use, homes, and their major components, can age differently. Computer vision delivers the needed analysis with much greater granularity. For appraisers, the current measurement of property quality, known as the UAD quality scale, has six quality ratings, with 96.3% of properties falling within the middle two categories. AI can provide a scale across 50-plus quality ratings by examining each area of the home. Computer vision can identify and interpret the nuances, such as a renovated kitchen where the cabinets were replaced entirely versus simply repainted. 7. Accelerating the process If you think about the typical processes performed for different real estate transactions, there are many hours wasted to simply find out that a property won't work out. For example, when agents search, they spend hours browsing irrelevant properties before selecting a small subset of homes that may work for their clients. Despite all that effort, their clients are always worried there's one hidden gem they may have missed. Similarly, real estate investors spend precious hours performing due diligence on potential investments, but many of these opportunities are invalidated after the photos reveal details that were missing from the listing. Likewise, an appraiser painstakingly searches for comps, but it's only after they dive into the photos that they realize the properties are not a fit because of their differing conditions. For all of these processes, AI changes the game. It doesn't reinvent the wheel, but it accelerates the process. I truly believe AI isn't here to replace what agents, appraisers, or investors are doing, but it can help get them 90% of the way there. Is it their best use of time to scroll through 50 photos to eventually discover the backyard sits adjacent to high tension power lines? AI sets real estate professionals up for success so they can provide their expertise and focus their time and energy on the smaller subset of properties worth their valuable time. Embracing the change Simply put, computer vision provides new possibilities that the industry is only beginning to realize. It generates insights that would've taken hours to develop and, in seconds, delivers real-time, relevant, and easy-to-digest data. It often affirms what agents already know, and when it surprises, it provides quantitative evidence to back up its insights. For all the innovators out there, computer vision is opening the door to build a more efficient future for real estate. Nathan Brannen is one of real estate's most experienced artificial intelligence veterans. He is the Chief Product Officer for Restb.ai, the leader in computer vision and AI for real estate.
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Elevating Real Estate Marketing: The Power of Live Streaming
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Real AI: Green Catch-22, AI Webinar, and The Creator (Ugh)
Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate. AI and the Green Catch-22 Among the biggest risks that AI faces on its trajectory to impact nearly every aspect of our daily lives before we know it is the Green Catch-22. The paradox: On the positive side, AI has the potential to tackle the environmental impact of humans, from dramatically improving energy efficiency and reducing waste to increasing farming yields and reversing the effects of climate change. Startups are beginning to proliferate, as this Google Blog provides a few examples. On the negative side is the impact of AI on Mother Earth itself. Training a single AI system can emit over 250,000 pounds of carbon dioxide. Experts estimate that using AI tech across all sectors already produces carbon emissions comparable to the entire aviation industry. Just as concerning is AI water consumption. Google's global data centers guzzled 15 billion gallons of water in 2022. Microsoft's global water consumption jumped 34% from 2021 to 2022 to almost 1.7 billion gallons. That's the equivalent of 2,500 Olympic-sized swimming pools. Researchers attribute the spike to its AI research. It doesn't sound like a lot, but a system like ChatGPT consumes about 500 milliliters of water for every dozen or so prompts. For some, the cost is already hitting home. ChatGPT has data centers in Iowa. It should not be surprising that the Des Moines Water Works saw a nearly 80% increase in residential rates since 2007, reaching $5.19 per 1,000 gallons for city residents. Just like the job paradox of AI – supporters argue AI will create more and better jobs than it eliminates – the Green Catch-22 for AI is real. So, it's not just Singularity we have to worry about when it comes to the advancement of AI. Webinar: Unveiling the Future: AI Revolution for MLSs and their users – Sept 19 RE Technology is hosting a webinar with Liz Sturrock, Chief of MLS Innovation at Miami Realtors. I recently met Liz at the Florida Realtors convention after I presented to the Emerging Technology Committee. This webinar should be a blast as Liz will talk about some of the real stuff in the MLS landscape today, not just what's coming (which is also exciting but not as actionable). For MLS staff and execs, this is a terrific opportunity to learn and ask questions about the practical applications of AI by MLS and how to best serve – and educate – members. A no-cost webinar, the registration link is here. Headlines: AI Take 5 These Prisoners Are Training AI | Wired - 9/11/23Finland's AI firm Metroc is paying prisoners $1.67 per hour to train its large language model. Chuck Schumer says he asked Musk, Gates and others about whether to regulate AI: ‘Every single person raised their hands' | Fortune - 9/13/23And so it begins, as legislatures play catch-up to try and regulate advanced tech once again. Just think about how successful they have been with social media. Amazon launches generative AI to help sellers write product descriptions | About Amazon - 9/13/23Like the real estate property descriptions that Restb.ai creates using computer vision, Amazon offers ChatGPT-like help for seller product descriptions. TurboTax-maker Intuit offers an AI agent that provides financial tips | Ars Technica - 9/6/23Using a large language model platform called GenOS, TurboTax users can now access a new AI assistant. It's expected to roll out to other Intuit properties, including Credit Karma, Quickbooks, and Mailchimp. Here's where the top startup investors are placing their bets | Albany Inno - 9/7/23Perhaps not surprisingly, artificial intelligence and machine learning investments lead the way in total deal value, with top investors pumping $646 million into the sector last quarter. E-commerce was second on the list in terms of deal value. Bonus: The Creator | YouTube trailer - Released 9/29/23Hollywood's dystopian view of what happens when Singularity is achieved. Quote of the Week To view the original article, visit the WAV Group blog.
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