Steve Koerber's Old Blog

Remuera's house sold name since 1998 – 021864166

Posts Tagged ‘real estate’

How to use Twitter for Real Estate

Posted by Steve Koerber on May 20, 2009

Cruise ship

Random thoughts:  If you’re like me, totally random thoughts pop into your head every day.  For example, the other day I thought that taking my family on a cruise would be a cool thing to do.  I Googled “cruises leaving NZ Dec 2009”.  After five minutes I made a mental note of dates and prices (inside cabin price was $1257) then got distracted and closed the website.  Life is busy.  I probably won’t re-visit that website.  My bright idea might fade away and we’ll just go to the beach again this Christmas.  Let me explain why I’m talking about this…

Social Networks:  Recently I’ve been experimenting with various Social Networks.  Platforms you may have heard of like Twitter, Facebook, LinkedIn, etc.  In an apparent vote of support my big boss Peter Thompson (Barfoot & Thompson Director) recently joined Twitter.  I was one of the first people he decided to “follow” or “keep tabs on”.  At first, seeing him follow me was a bit of a shock.  I felt a like Big Brother was watching me.  But Peter’s ‘follow’ got me thinking.  I worked out that the key to (or secret behind) social networking is that it fosters total honesty and transparency.  That’s got to be a good thing.

Twitter:  If you know how to log onto the internet I reckon you should join Twitter.  You might not understand why initially (most people don’t), but if you’re planning on staying in real estate for the next ten years it will help grow your business.  Trust me on this!

Listings:  These days at listing presentations I explain to potential vendors how I’m harnessing the power of technology and social networks to enhance my service.  It still astounds me that when I arrange to show one of my listings to a potential buyer, people previously unknown to me are increasingly just “arriving”.  Many of these mystery buyers trust me (I hope) because they’ve investigated me online, plus they know lots about the listing because they’ve already downloaded documents I provide to help them make a buying decision.  The bottom line is this:  it’s easier to sell to someone who trusts you and appreciates your level of service – especially before they even meet you!

Like magic:  This “qualified buyers appearing like magic” scenario may sound far-fetched, but it’s actually happening and it’s incredibly exciting. The great news is I’ve developed a system that’s reasonably easy to set up and I’m happy to share it with you.  No strings attached.

Back to the Future:  Back to the cruise scenario I mentioned.  Think about this.  If the cruise website I found had a Twitter ‘follow’ button that promised to alert me every time the price changed, you can bet I would have ‘followed’.  That would be a big win-win for the cruise website and me.  Every time the price changes the website would “Tweet” it and get my attention. Who knows, if the deal on offer was sufficiently appealing, I might buy from them (not from a competitor).  Sites like Twitter are giving consumers the power to filter and receive exactly what they want.

The mind boggles when I think about the untapped possibilities of sites like Twitter for the real estate industry.  Imagine how much value you could add to the services you already provide.

PS – (If you are in an industry like travel, retail, services etc and people who visit your site are price sensitive, you could bring customers back to your site by promising future ‘deals’.  If you promise to move the price or spice up the deal make sure you add to your website a Twitter follow capacity relating to the aspect that is likely to appeal to customers.  Isn’t that what business is all about, repeat and return custmers?)

PPS – Follow me on Twitter here

Posted in Opinion | Tagged: , , | Leave a Comment »

Your Home is Worth Less Than It Was?

Posted by Steve Koerber on February 7, 2009

long-queueThis was the front page headline of today’s Sunday Newspaper in Auckland.

I won’t argue the point, for many people this headline is true.  Real estate is cyclical, thank goodness!  Could it go up forever?

News from the trenches:  I’m arguably the busiest salesperson in Remuera at the moment.  I’m running 12 to 14 open homes per weekend.

Last weekend I was face to face with approximatley 150 groups (or 450 people).  Yes, that many came to my open homes alone.  How many other buyers are out there – plenty!

This weekend (Waitangi long weekend) most would expect a slow weekend at open homes.  Again I had approximately 150 groups (or 450 people) through again. 

About 20 groups (or 60 people) were 2nd timers from the previous weekend.  That means, over two weekends (one being a long weekend), I had 280 groups (or 840 people) through open homes.

Methinks there might be some bargains, but not as many as the newspapers would have us believe!

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Remuera real estate is undervalued. I know and believe this. My aim is to change that one sale at a time.

Posted by Steve Koerber on January 9, 2009

This is Steve Koerber’s old site.  Please click here and go to…

www.stevekoerber.co.nz

Posted in All about Steve's Listings | Tagged: , , , , , , , | Leave a Comment »

Why auction in a buyer’s market?

Posted by Steve Koerber on May 1, 2008

If an auction is “correctly” run, the top bidder (even if there’s only 1 bidder) will pay the highest figure they are prepared to pay…not a few dollars more than the next highest bidder. And not necessarily on auction day.

Sellers pay agents handsomely to achieve a sale at the best price available in the marketplace. If a seller is keen and desires a quick result, auction is a fantastic method of determining the value of a home within a short timeframe.

If a house has an asking price of $800,000 and the best buyer over 4 weeks sees value at a maximum of $700,000, in my experience that buyer is unlikely to make an offer at all.

Time is precious to everyone and buyers don’t want to waste their time with over-priced houses.

If the same house has no asking price, is taken to auction after 3 or 4 weeks, in my experience if the higest interest is $700,000, a bid at auction is likely.

In the above scenario, via auction, the value of the home (within the timeframe) is more likely to be established than if it was priced. If a seller is not happy with the established value (best bid), they have the option of remaining on the market with (say) an $800,000 asking price to see if the next 3 weeks or 3 months produces a better buyer.

So why not just price a home correctly from the start? Easier said than done! Especially in a “buyers market”.

Posted in Selling your home | Tagged: , , , | 2 Comments »

How important is market share in real estate?

Posted by Steve Koerber on March 15, 2008

Imagine Auckland with just one real estate company.  Every agent could take every buyer to every house for sale.  Imagine your home on the market with this company.  Would all (or most) buyers see your home?  Yes.

In Remuera, because of a significant market share that varies between  40 – 50%, Barfoot & Thompson is the next best thing to the ficticious company I’ve just described.  That’s how important market share is!

Posted in Opinion, Selling your home | Tagged: , , , , | 2 Comments »

Auckland’s most successful real estate company joins forces with New Zealand’s most successful real estate website

Posted by Steve Koerber on February 29, 2008

I’m pleased to announce that all of my listings are now able to be viewed on New Zealand’s number one website www.trademe.co.nz

This marriage of two real estate heavyweights heralds a new era in Auckland real estate.  Auckland’s most successful real estate company joins forces with New Zealand’s most successful real estate website. 

Posted in Buying a home, Selling your home | Tagged: , , , | Leave a Comment »

Slow real estate market in Auckland? Yeah right!

Posted by Steve Koerber on February 3, 2008

Not boasting but…surely the following is good to know if you’re interested in Auckland real estate….

During the eleven day period between 24 January 2008 and 4 February 2008 I was  involved in the sale of seven homes.  One contract didn’t go through, so that’s six sales.  Better than one every two days.  And tomorrow I’m presenting another offer.  I like these slow markets, they’re good.

Update:  as of 7 Feb 08, a further two sales.  Eight sales in 2 weeks.

Update:  as of 14 Feb 08, Nine sales in 3 weeks.

Update:  as of 5 Mar 08, Twelve sales in 6 weeks.

Update:  as of 11 Sep 08, Ten sales in 5 weeks.

Posted in Opinion, Remuera Sales Statistics | Tagged: , , | 3 Comments »