Write a brief summary of the textbook Chapters 8, to include the following paragraphs with headings: an overview, 3 key concepts, and a summary. Each key concept must include the textbook page numbers. Each paragraph needs a minimum of 3 sentences. Use the template format provided below. Refer to the model assignment (sample) following the template. Do not copy the sample use as a guide
TEMPLATE:
OVERVIEW
KEY CONCEPT FROM CHAPTER 8
KEY CONCEPT FROM CHAPTER 8
KEY CONCEPT FROM CHAPTER 8
SUMMARY
Victor Valley College
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The whole purpose of education is to turn mirrors into windows.
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M.B.A. Business Entrepreneurship
B.A. in Real Estate
Certificate in Tech Writing
A.A. in Business Management
A.A. in Real Estate
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Educating Generations, Building Communities
Email = regina.brown@vvc.edu
Office Hours = TUE/WED/THR morning or by
appt.
Phone x2311
Questions or concerns? REACH OUT right away!
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? Reflection Summary due
y beginning of EACH
class (covers 1 chapter)
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Online
Educating Generations, Building Communities
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
Homebuyers: Taking the search online
The four most popular Real Estate Brokerage Websites
Aggregation of MLS Real Estate Information
Ownership of Your Real Estate Website
Real Estate Agents are Still Needed
Marketing & Advertising Basics
Realtors®
Homebuyer Advertising Statistics
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Educating Generations, Building Communities
IX. Real Estate Online Search
X. Owners: Get Loans, Refinance with Lenders Online
XI. The Internet Real Estate Office
XII. Social Media Possibilities
XIII. 6 Steps to Successful Real Estate Marketing on the
Internet
XIV. Niche Marketing Opportunities
XV. Marketing Demographics
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Part I.
Homebuyers: Taking the
Search Online
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Educating Generations, Building Communities
? Most homebuyers say they use the Internet search as
part of their home research
? The Internet has NOT rendered real estate agents
obsolete, but has increased business
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Educating Generations, Building Communities
? Most agents meet with prospective homebuyers after the buyers
have done extensive research online
? Many homebuyers view a home walkthrough online, which is a
good reason to create virtual tours online
? The brick and mortar real estate offices are still thriving
? BRICK AND MORTAR refers to businesses that have a physical
(rather than virtual or online) presences
in other words, stores that
you can drive to and enter physically
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Educating Generations, Building Communities
? Most California agents say they are using a smartphone with
Internet, text, and email in order to better stay in touch with
customers
? The majority of the people in the U.S. have smartphones and
utilize some form of social media
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Part II.
The Four Most Popular Real
Estate Brokerage Websites
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Educating Generations, Building Communities
? Most transactions for the purchase and sale of real estate
begin with a written contract between the buyer and seller
? In a real estate transactions the following must be addressed:
? Financing
? Possession
? Condition of title
? Liens
? Most buyers do NOT have the available cash to buy a home,
financing is a must
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Educating Generations, Building Communities
? Zillow has data on over 100 million homes across the United
States, including past sales figures as well
? It gives value estimates of homes in a given time frame (1yr, 5yr,
10yr)
? Zillow has expanded its services to include the rental market
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Educating Generations, Building Communities
? Trulia lists properties for sale and rent as well as
neighborhood information and community insights
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Educating Generations, Building Communities
? Members only
? MLS data is updated every 15 minutes
? The most exclusionary since you must be a member
to view listings
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Part III.
Aggregation of MLS Real
Estate Information
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Educating Generations, Building Communities
? MLS AGGREGATION means the collections of large
amounts of seller information from several Multiple Listings
Services to post digital listing data and photos online
? The aggregation allows the data from neighborhood MLSs
to be collected and put onto one site for easier
comparison
? Agents now list homes directly online, as well as local
newspapers and in real estate magazines
? Data updated every 15 minutes
? Many agents own their own websites
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Part IV.
Ownership of Your Real
Estate Website
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Educating Generations, Building Communities
?
In a landmark case, the 9th U.S. Circuit Court of Appeals has
stated that domain names, despite their virtual nature,
should be treated exactly as a plot of land would be
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Part V.
Ownership of Your Real
Estate Website
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Educating Generations, Building Communities
? The post-market-crash real estate world is more complex and
tighter lending standards have made the average transaction
harder to navigate without expert help
? To adapt and add value, brokerages have scaled back on their
office space and more agents now work from home, rather than
private cubicles
? Since buyers are doing initial online searches, as an agent, you
have to spend less time touring them around
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Part VI.
Marketing &
Advertising Basics
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Educating Generations, Building Communities
? REAL ESTATE MARKETING is the entire process of communicating the benefit of
your real estate service to our customers
? TARGET (NICHE) MARKETING is the ability to select and cultivate a subgroup
of people to whom you directly promote your services in a way strategically
designed to satisfy their specific needs and preferences
? Let customers know you
a good business relationship is built on trust
? A BRAND is a name, your name, term, logo, or design that identifies you and
your particular service, that differentiates you from your competitors
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Educating Generations, Building Communities
? ADVERTISING is paid promotion used to encourage and identifies
your service to help persuade your buyer or seller to talk to you and
discuss how you can help them solve their real estate desires
? PUBLICITY is giving out information about a broker, brokerage, or
salesperson using websites, social medias, blogs, new media and
even newspaper articles
? PUBLIC RELATIONS (PR) is unpaid communication and relationships
with various public audiences
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Part VII.
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Realtors®
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Educating Generations, Building Communities
? 1. High school graduate: 9%
? 2. Some college: 30%
? 3. Associate degree: 11%
? 4. Bachelors degree: 30%
? 5. Some graduate school: 8%
? 6. Graduate degree and above: 13%
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Part VIII.
Homebuyer
Advertising Statistics
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Educating Generations, Building Communities
1. Internet: 90%
2. Real estate agent: 87%
3. Yard sign: 53%
4. Open house: 45%
5. Newspaper ad: 27%
6. Home book or magazine: 18%
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Part IX.
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Real Estate
Online Search
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Educating Generations, Building Communities
?
According to Google, the average homebuyer performs eleven searches
online before action is taken
?
Buyers use search engines and general websites to make searches on
homes
?
Using mobile apps such as Google Maps online, allows buyers to see the
exact location and view the street and surrounding areas to the
prospective homes
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Part X.
Owners: Get Loans, Refinance
With Lenders Online
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Educating Generations, Building Communities
? Mortgage Refinance Loans
? Home Equity Loans
? FHA Loans
? VA Loans
? Reverse Mortgage Loans
? Mortgage Rates
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Educating Generations, Building Communities
? LendingTree® mortgage loan process:
1.
Complete the simple, secure online mortgage loan request
2.
Receive up to five home loan offers from lenders
3.
Compare mortgage interest rates and terms
4.
Choose the offer that best fits your needs
? Rocket Mortgage (Quicken Loans®) is the largest online retail
mortgage lender
? Greenlight Loans® is a mortgage lender that is HUD and FHA
approved
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Part XI.
The Internet Real Estate
Office
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Educating Generations, Building Communities
? Listing Presentation
? Take a picture of the potential clients home and input it into your
computer so you have a visual to show them in your listing presentation
? Have a hard copy of a Comparative Market Analysis to show currently
sold properties and what they sold for
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Educating Generations, Building Communities
? Realtor.com has an APP called Keynote for Listing Presentations that
allows you to download information to your iCloud account
? You can store your presentation on your mobile device
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Educating Generations, Building Communities
? A LISTING SYNDICATION is the process of getting the listings
information displayed on numerous other websites around the
internet
? The MLS syndicates (shares) new listing information with several
other sites like Realtor.com, Zillow, and Trulia
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Educating Generations, Building Communities
? Auto Email Alerts are a great way to
work with potential buyers
? Help potential buyers fill out an MLS
wish list for their dream
property
they will be notified is
such a house listing appears in the
next month or so
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Educating Generations, Building Communities
? When holding an open house, you can use a number of different
downloadable APPS and programs to help you keep track of
potential buyers and sellers as well as create a contact list
? Add a Property Address Domain Name (URL) to your Yard Sign
? Hire a Company to Do All Your Address Domain Hosting
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Part XII.
Social Media Possibilities
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Educating Generations, Building Communities
? Social Media is the most effective way to practice inbound marketing
? Nielsen studies have found that social networks occupy the bulk of
consumers online time
? Internet users spend three times as much time on Facebook, Twitter
and LinkedIn as on any other sites
? Social media users are NOT just talking with their friends; they are
making decisions about how to spend their money
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Educating Generations, Building Communities
? FACEBOOK use Facebook to reach your target market by
creating targeted ads
? TWITTER use tweets for a new listing
? PINTEREST is a virtual bulletin board where you can pin images
or videos of listings
? LINKEDIN has changed how professionals do business giving you
the ability to link to your website, blog, etc
? INSTAGRAM is a free online photo-sharing application which
offers companies the opportunity to start a free business account
to promote their brand and products
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Educating Generations, Building Communities
? Realtor.com®, Zillow.com® and Trulia.com ® are the most popular real
estate websites for searches
? Remember to take down any ad or post once a property has sold
? The MLS gives you 24 to 48 hours to remove a listing from their records
once the listing is closed or expired
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Educating Generations, Building Communities
? Your brokerage needs to maintain a presence on the
Internet, making it easy to find and contact you
? Listings must be updated constantly as well as sold items
listed to show clients of your success rate
? Be sure your phone number is prominent on the first page
so clients can contact your easily
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Educating Generations, Building Communities
?
A QUICK RESPONSE (QR) CODE is a type of barcode that
consists of black modules arranged in a square grid on a white
background, which can be read by an imaging device and
processed
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Part XII.
6 Steps to Successful Real
Estate Marketing on the
Internet
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Educating Generations, Building Communities
? Own Your Website Domain Name or Suffix Realtor
? Increase Your Internet Presence
? Integrate Traditional with Internet Marketing Techniques
? Use the Web for Your Listing Presentation
? Keep Up with the Times
? Keep It Personal As Well
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Part XIV.
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Niche Marketing
Opportunities
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Educating Generations, Building Communities
1. Divorcing Couples
2. 1 to 4 Unit Zoning
3. Military-Related Services
4. Land Expert
5. Large Condo Complexes
6. Luxury Properties
7. Urban Living Specialist
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Part XV.
Marketing Demographics
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Educating Generations, Building Communities
? Baby Boomers old school
? Millennials tech savvy
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Educating Generations, Building Communities
I.
Homebuyers: Taking the search online
II.
The four most popular Real Estate Brokerage
III. Aggregation of MLS Real Estate Information
IV. Ownership of Your Real Estate Website
V.
Real Estate Agents are Still Needed
VI. Marketing & Advertising Basics
VII. Realtors
VIII. Homebuyer Advertising Statistics
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Educating Generations, Building Communities
IX. Real Estate Online Search
X. Owners: Get Loans, Refinance with Lenders Online
XI. The Internet Real Estate Office
XII. Social Media Possibilities
XIII. 6 Steps to Successful Real Estate Marketing on the
Internet
XIV. Niche Marketing Opportunities
XV. Marketing Demographics
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Educating Generations, Building Communities
? Read Next Chapter
? Write Reflection Assignment
? Study for Quiz
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Educating Generations, Building Communities
? Schedule 1 hour of study every day
? Plan to be early!
? Always be ready
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Only what you put into it!
? Take Notes
? Stay Engaged
? Think of How to Apply
? Ask Questions
? Participate / Share
? Do Activities
? Be Grateful
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? Educate yourself by attending class
? Assignments & Activities
? Read every day
? Never stop learning!
The more you LEARN the more you EARN.
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Student Learning Objectives met
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Victor Valley College
