Technology helps real estate agents become neighborhood ambassadors

By Phil Stilton

Jackson, NJ – Over the years, I’ve had a strange love hate relationship with the real estate industry that always seemed to end in frustration as a technology consultant providing IT services to dozens of New Jersey’s largest commercial and residential real estate companies.    The industry on whole has been very slow, and perhaps one of the slowest, when it comes to accepting and adopting new technologies to steer their business into the future.    It was always a struggle in the early days to convince my real estate clients on things like “The Internet” and “networking computers together” in an industry that had for so long survived on newspaper ads and listings magazines.     Around 2002, as online real estate technologies and capabilities began maturing, I threw up my arms in frustration and began dropping my residential real estate clients because the climate in the industry at the time was not embracing the influx of technology required to compete.   I figured, why should I spend countless hours pitching technology to clients who worked primarily from thick newsprint MLS guides when the rest of the world was hungry for more digital solutions.

Today however, perhaps in response to the bursting of the real estate bubble, firms like Coldwell Banker Realty are not only embracing technology to drive sales, they have begun to realize that tapping into pop-culture online trending is a vital key to the success of their business.    In just a few years, the real estate industry has gone from a day in the car driving between prospective locations to being able to fully research your potential new home without leaving your seat.      Last month, Coldwell Banker unveiled their new YouTube channel, one of the most progressive trends from the industry to date.   Coldwell Banker launched a nationwide campaign and took the lead in being the first national real estate brand to  have a dedicated YouTube channel that focused on real estate issues.  They announced yesterday that in one month’s time their YouTube Channel has become the most viewed in the Real Estate industry.  

“This was an important event because the real estate industry has never been an early adopter of technological change.  There are some agents out there that still yearn for the day when the Multiple Listing Service was contained in a three-ring binder!   They are active on Twitter (@coldwellbnkr) and Facebook (www.facebook.com/coldwellbanker) listening and responding to conversations about their brand and real estate in general and now with this YouTube initiative they have taken an active role in defining the next big change in real estate.” explains Matthew Genovese, a local Coldwell Banker agent from Jackson, New Jersey “YouTube was an important step because, in my opinion, it signaled a change in the way that real estate will be marketed from now on.  Currently, more than 75% of all home searches begin on-line.  And surveys are showing that those home buyers who are looking on-line are going right past listings that do not feature multiple pictures. ”

When moving to Jackson Township several years ago, I had asked my agent about local schools, the neighborhood, crime and other information that is important when buying a new home.  Her response was “Schools are great and crime is low!”.  Of course they are.  If they weren’t I wouldn’t buy the house.  So, I spent months researching my new purchase online before we signed the deal.   Today, companies like Coldwell Banker are offering all of the pertinent information and more within the listing itself, going far beyond the standard fields in an MLS database.

For instance, on the local  New Jersey Coldwell Banker website, every listing has a community tab which provides the home buyer with census data, crime indexes, commuting statistics, median home ages and values, school research, health data and much more.   You can even find the divorce rate in your new neighborhood.  Check out an example listing here.

The addition of the new YouTube channel, along with community interaction on Facebook and Twitter is a sure sign that things are changing for the industry as companies like Coldwell Banker demonstrate that these new services can and do help agents sell homes, even in a down market.  “If you are in the market for home…or you are thinking about selling your current home, get an early peak of what the future of real estate marketing is going to look like by watching a few videos on the new YouTube channel” (http://youtube.com/coldwellbanker ) Genovese points out.

It’s not only in New Jersey where the new initiatives have shown promise and success.  

“The response we have seen since the launch of On Location has been tremendous and it is a confirmation that video truly is the way of the future for real estate,” said Michael Fischer, senior vice president, marketing, Coldwell Banker Real Estate LLC.  “The Coldwell Banker sales force has already uploaded more than 1300 original videos with many, many more on the way.  We are proud to lead the industry with an online resource that provides consumers with information to help them through the home buying and selling process.”

To create On Location, Coldwell Banker Real Estate closely collaborated with both YouTube, a Google subsidiary, and Google to develop a customized framework and user experience. In addition, On Location is the first branded YouTube channel to use dynamic IP lookup to search for videos, which automatically serves up local results when visitors first hit the site.

Fischer noted that the channel is continuing to grow with content being added every day.  “As more and more videos are uploaded, On Location will become an even greater asset to consumers. It has the potential to be the Web’s richest array of real estate video content, and the results we have seen thus far prove that we are well on our way,” he said.

Many industry experts agree that with home rates bottoming out, low mortgage rates, it’s now a buyer’s market when it comes to real estate and by equipping its customers with the right tools to conveniently research homes from the convenience of your own home, Coldwell Banker is positioning themselves to be at the forefront of the industry as the market recovers moving forward.

About this article
Phil Stilton is an Information Technology and Search Marketing consultant with over 15 years experience providing online solutions to businesses in many industries, including residential and commercial real estate, and writer for Jackson NJ Online, a member website of the GoKids Media Network, an online media network which recieves over 35,000 daily visitors.    To build a better online strategy for your business, call Stilton Company at 732-575-4891 or via email pstilton@stiltonco.com

Matthew Genovese is a REALTOR ASSOCIATE with Coldwell Banker Riviera Realty, 2052 West County Line Road, Jackson, NJ 08527.  Matt can be reached at his office at (732)364-0099 or his cell phone (732) 684-4166.  Other contact information: E-mail: mattgen@optonline.net  Web: www.matt-genovese.com.  You can follow Matt on Twitter: @mattgenovese or Facebook: Facebook.com/mattgenovese

Posted by Staff Report on Jun 24 2009. Filed under Opinions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry