panorama software,virtual tour software
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2004-07-17
#12

hi zjoker,

i was interested in those stats...thanks. can u point me to where i can read more on those numbers?

what i found shows a differnt picture.

"Homes with six photos or more had 83.6 listing detail page views,"  -- per month in aug 03.    83.6/ 30 days = 2.78 views per day.

source:  http://realtytimes.com/rtapages/20031031_differences.htm

lets say i'm a crazy "smooth" agent and i check to see if my listing is really online 10 times a month. there's still 73.6 views that my listing generated that month. wheather those views come from other agents surfing Realtor or home buyers that's hard to determine. and in reality it doesn't matter if it's an agent or a home buyer looking at your listing, they're both equally important potential buyers.

that's my interpration...maybe i'm misinformed.

 

 


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2004-07-17
#13

Hello VT360,

I wouldnt argue with those numbers...but that is not Virtual Tour views. That is the "listing details" as you mentioned. My advise to my Realtors is that they need to be on Realtor.com, and have the iLead account to be able to enhance their listings...but do not be sucked into the idea that if their "listing does not have a virtual tour on Realtor.com, you have done your customer a disservice"...that quote comes from the i*ix promotion pack that they love to hand out to Realtors. In fact, if I can provide 4 visits a day, and Realtor.com is only supplying 2.3 per week.(keep in mind thats VT stats) .you have done your customer a disservice in the other direction.

 The only way to get the stats for the virtual tour views is to have access to the Realtor's iLead program. I have worked with maybe 30 realtors that have the iLead program over the past couple of years and have compiled those stats from there. I can guarantee that those numbers will not be published anywhere, but I can also guarantee those numbers are correct...at least regionally they are.

Please know I am not trying to stir anything..only sharing some stats and possibly helping others make their pitch to their customers..

zjoker


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2004-07-18
#14
thanks for the very valuable inside info zjoker.
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2004-07-18
#15

Hmm seems to me... we should look 1 data step further.  Of the page total views gained... how many properties were actually sold to new home owners.  VR's are only a 'value added' feature.  It the VR's actually sells the agents properties... then that is the end result we need to know.

Sell the customers product !!

Dave


/s/
Dave
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EasyPano - Panoweaver
Pano2VR


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2004-07-19
#16

Well...that is data that is not available to anyone..including the Realtor....however, I would think that the law of averages would show that the tours that are shown to the most unique visitors will sell the most properties.

I would have to disagree with your view that "if the VR sells the property, that is the end result"...Taking away the fact that It doesnt matter if the VR sells the property (we dont get paid for that)..It is still a great listing tool..Most of my Realtors use the VR not because they think it will sell the property, but because it increases the chances of getting the listing. According to realtytimes 90% of Realtors are listing agents..I would have to say that holds true in my area.

 I am not sure about your area, but in my area (Great Smoky Mountains of WNC), the market is flooded with Realtors, and houses are going up everywhere (very retirement popular). We have 2 Realtor schools in a County that would be considered small almost anywhere. Anything they can do to get the edge, they do it! VR's are the #1 tool.

However...My feedback from the Realtors I work with shows that 1 out of every 10 VR's will sell the home for them. I have had some homes sell totally by the VR without the buyer ever entering the home....but I do a photo gallery and interactive floorplan as well.


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2004-07-19
#17

zjoker,

what does "According to realtytimes 90% of Realtors are listing agents" mean?

what's a listing agent?

i think the other advantage is the fact that the realtor doesn't have to drive to the property to showcase. it saves them lots of time. even if the property is not sold by the tour, they didn't waste their time.


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2004-07-19
#18

You are correct in the fact that it saves them time. I have heard many that like to view the tour with the potential buyer while at the office, or even over the phone. It helps weed out properties before they hit the road.

A Realtor likes to either consider themselves a listing agent or a selling agent. A listing agent is a Realtor that concentrates more on getting listings than selling listings. A Realtor with only 5 listings may be able to make a killing selling other Realtors property through the power of MLS....but, they have to work much harder for it (showing the property, negotitations, closing etc). A Realtor with 30 listings doesnt need to sell one property themselves to make a really good living. They get paid a percentage when any of their properties sell anyway. If they sell their own listing, they get double the percentage. The Realtors with the most litsings will usually use the service of VR because thats what it takes to get the listing sometimes.

I am not sure if I explained it very well..but you get the jist.

zjoker


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2004-07-19
#19

i get the jist ...thanks for the clarification.

how do you market yourself. how do you approach/capture realtors who have never heard of you or virtual tours and those who have heard of tours and are using another company?

 


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2004-07-19
#20

Hi,

From what I've seen, the virtual tour helps but has never been the dealmaker in any of the sales.  Folks still want to see the property first hand.  Who wouldn't for such a huge investment? 

In our case, the tour definitely helps but is simply considered another tool in a whole host of tools in marketing a property.

r,
eagle 


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2004-07-19
#21

VT360. I first joined my County Board of Realtors as an allied member. It was the best thing I have done. I made a deal to join if I could introduce myself and have a 15 minute presentation at my first meeting. I also setup a couple of tours on my laptop..Realtors could pass by and play with the tour. My next best move was to not over sell my product. I approached everyone as just a friend, and not trying to get their business (southern hospitality..it worked). The best thing I had going for me was  the fact that the i*ix dealer in the area is not real good at the job..and not many like her. I promoted enhanced windows on every room without charging for it, and they loved that. It saves them around $40 on each tour that way. After some time had passed, I compliled the numbers I posted earlier, and promoted those numbers. I also made sure to setup a presentation for each office in the County a year after I had been in business. Word of mouth has worked from there...Not sure if there are any good tips in all that..but maybe it will help you a little.

Eagle,..Check this. I actually had a home to sell from another homes VR..The two homes were very similar, so the Realtor used VR to sell the other home...The first home had already sold....However, we are talking about $80 new 3 room log cabins in the mountains. There are many many vacation rentals around here, and retired Fla folks buy the cabins up..place them on vacation rental programs, and make around a grand a week.

Another thought for those that have a website and vacation rentals in your area. I promote myself in that area also. I have a few companies that are under contract with me to stay on my program a  minimum of 5 years at the cost of $100 per rental..per year. I host the tours, and give upgrades as they are available. They pass the cost on to the homeowner. I make sure they know that they are not buying the images. They are buying the service, hosting, maintenance etc. This prevents the homeowners from hopping from one management company to another and expect to take their tour with them. If they move..they have to get a new tour if that company is on my program. I never recycle VR's

Good luck to all of you..I would like to know what has worked for others as well.

zjoker