Posts Tagged as Real Estate Technology News

Teardowns May Affect Your Business

Why the Next Property You Market May Have Fallen Victim to the Wrecking Ball

Could the next property you sell be worth more without the home or commercial building that’s on it? In some areas, real estate trends are pointing to a rising number of teardowns, especially in locations where uber-thin inventory levels are causing home prices to soar. Big cities and hot markets such as coastal and other scenic fare are taking a big hit.

Whack!
Zoning often allows for an apartment or small condo complex on land where a small, single family home, school, or commercial property once stood, making the land beneath some tiny buildings worth far more than the structure on top of it. A flip in traditional market logic where the lot accounts for a mere 10% of overall property value.

Crash!
Teardowns are especially attractive for builders and developers due to the glut of environmental hurdles and zoning issues associated with acquiring land. And the industry is increasingly taking notice of such real estate trends, with teardowns on the rise to account for 10% of all new home construction starts in 2016. That’s an increase of 7.7% from the previous year.

Bang!
Popular in the late 90s and early 2000s before the financial crisis, teardowns are increasingly becoming common in the western U.S., where housing costs are highest. Some 33,400 structures in the west took a hit in 2016, followed by 23,800 in southern regions, 12,300 in the Midwest, and 9,800 in the Northeast.

Boom!
Some of the homes taking the hit aren’t even in bad shape. In fact, buyers are dropping a pretty penny on small and seemingly insignificant homes – just to get the land and rezone it for a multifamily project, such as condos or apartments so they can boost value via added versatility.

Are you up on the latest real estate trends for producing smashing sales results? Find them at Properties Online today.

Let Property Movies Deliver Customers to You Like That Drone.

Real Estate Videos are Morphing into “Movies” in the Luxury Marketplace

Video usage in real estate marketing is already evolving. Going beyond drone shots, agents with luxury listings are now experimenting with cinema-like property movies. These short films feature actors, music scores, story arcs and Hollywood-quality cinematography, cashing-in on online video platforms that are rapidly becoming a key component of successful property sales.

Old-School Walking Tours are Obsolete
People are more easily attached to a story, following it through to the ending – even with performances more Razzie than Oscar. The best movies showcase properties in a way that helps buyers see themselves there.

Over-the-Top – or– Out-of-this-World Publicity?
In some cases, homes cost more than making a movie, and sellers are looking for a little red carpet marketing treatment. How is video usage in real estate marketing playing out for this luxury fare? Movie-like examples include:

• A 14,230-square-foot Bel-Air home that sold for $39 million, marketed with a video featuring 2 kids who take a note from Ferris Bueller, playing hooky to splash in the home’s infinity pool, whack golf balls over the L.A. skyline from their yard, try on outfits in large walk-in closets, and have a puppy delivered by drone.

• Another home, a 5,500-square foot 5-bedroom Hollywood estate listed for $3.65 million, featured a fictional narrative of a couple passionately arguing their way through the sleek, contemporary estate, revealing high-ceilings, high-tech security, and marble fireplaces. The wife chucks her diamond ring in the pool, and the husband is kicked-out, showcasing the neighborhood.

Funding Production
Movie-style marketing videos can cost anywhere from $5,000-$30,000 plus – but they’re not only for extravagant fare. Consider another take: A lower-budget trailer for a 3,008-square-foot-home featuring little girls at a sleepover, traversing the home and ending with a late-night living room dance-romp to Taylor Swift.

Ready to add a little more sparkle with video usage in real estate marketing? We’ve got many ideas. Learn how PropertiesOnline can help you boost your business today.

Let Property Movies Deliver Customers to You Like That Drone.

Real Estate Agents Love Drones Even As Their Regulation is Evolving

Video usage in real estate marketing in rising to the top of every agent’s must-have list. And flying next to it: Drones, which are providing interesting new opportunities for area realtors to rise-above the competition with cutting-edge videography and aerial photography services. The best news? New legislation is making it increasingly easier for you to put drones to work for your business.

Clear Skies Ahead
In June 2016, an FAA ruling cleared the way for a much easier path to commercial drone operation. No longer requiring a manned pilot’s license, the drone flight certification process has become much more straight-forward, requiring a knowledge test every 24 months and adherence to flight restrictions, such as flying over people, at night, and beyond visual-line-of-sight.

As Drone Usage Grows, Rules May Evolve
Though the path to drone flight certification and regulations is easier, the National Association of Realtors is continuing to push for additional changes, such as participating in Federal Aviation Administration rule-making committees in hopes of opening more opportunities for realtors.

Among them? Flights beyond visual line of sight, crucial for shots of large buildings and tracts of land which cannot be traversed by foot. Also, permitting drone flights over people, where many opportunities exist such as the creation of neighborhood and area amenity marketing materials.

More Affordable Technology and Trimmings
As drone technology continues to improve and come down in price, realtors are jumping on board. Even insurers are offering specific coverage for drone pilots who utilize drones at a lower frequency. Such policies allow these pilots to save a buck on insurance with a bit of additional safety training and corresponding certificate. This is making drones ever more affordable for the everyday agent.

Fly to new heights with video usage in real estate marketing. Easily create stunning videos with the latest in video-building technology, free with most Properties Online services. Learn more today.

The Internet is a Big Place. Make Sure People Can Get Results on Search Engines.

Don’t Use Yet? “Unthreatening” Chatbots Are Changing Real Estate Search.

In this week’s real estate selling tips, we’ll cozy-up to the latest Chatbots – software that automatically responds to client/guest questions and requests with the help of a messenger-style widget. Powered by artificial intelligence, these rockin’ robots are more than automated answering machines, capable of understanding conversational language and responding in-kind. And with over 83% of buyers and renters beginning their home search online, they may prove very kind to you!

Chattering Chatbots
Many homeowners are familiar with chatbot technology in the form of Alexa and Siri – they just take it for granted. And the who’s who of the tech community jumped aboard last year, including Google, Microsoft, and Facebook. Since then, the tech has gone forth and multiplied – possibly arriving at a brokerage near you – due to the life-like, conversational services of the system. It’s so realistic that chatbox users feel as if they’re communicating with a real human representative on the other side of the screen.

Helping People & Making Businesses More Efficient
Rather than replacing agents, as is a common fear in the real estate community, chatbots offer integral support – but nothing that can replace a flesh-and-blood agent’s ability to handle transactions. While you’re researching leads, preparing for property viewings, and closing sales, a chatbot can…

  • Handle initial client contact
  • Organize duties as per client requests
  • Qualify/prioritize leads
  • Provide you with necessary knowledge prior to meetings
  • Manage a large number of inquiries

Chatbots also save money, providing 24/7 customer service access to home shoppers that would otherwise be expensive to maintain with a live telephone or in-person customer service chat staff. This allows you to focus on the core part of your business, rather than taking requests, tracking your endless to-do list, or qualifying clients.

Don’t get overwhelmed by your real estate responsibilities, find the real estate selling tips and tricks you need to make life easier with the help of Properties Online today.