Branded Search Responsible for Majority of Search Traffic to Broker Websites

Broker website statistics are great barometers for measuring overall broker brand marketing and consumer engagement. Having a global perspective on broker websites enables individual brokers to compare and contrast their own analytical data to determine areas of strengths and weaknesses. The WAV Group's 2013 Broker Website Effectiveness Study seeks to create benchmarks that may guide real estate brokers in making informed decision regarding their companies' online marketing strategies and broker website management.
Their report shows that 42% of consumers are using search engines to access broker websites. Since the first release of the Broker Website Effectiveness Study in 2008, this is the most quoted data point that is often taken completely out of context.

Modem web browsers have been developed to streamline user friendliness. In the old days, consumers had to type in the exact website URL to reach a website through the browser. Any typo would result in an error message or you would be directed to a website that you had not intended to visit. To fix this problem, modern website browsers have integrated search engines directly into the URL address bar. It allows consumers to either type in the URL, or type in word or a phrase, to get where they need to go. 

So, while it is true that 42% of consumers do access broker websites through search engines, that does NOT mean that brokers need to invest a lot of time or effort into Search Engine Optimization. Of the traffic coming from search engines, 75% are searching specifically for your company brand. If you take this into account, you can calculate that an additional 35% of search engine traffic should be treated like direct traffic (75% of 42%).

By reviewing the direct URL traffic and the branded search traffic the conclusion can be made that over 68% of your website visitors are accessing your website using your domain name or a keyword associated with your brand.


Article and data courtesy of The WAV Group

Sales of New Homes in U.S. Surge by Most in Three Decades

Purchases of new U.S. homes surged in October by the most in three decades, signaling buyers are starting to take higher mortgage rates in stride. 

Sales jumped 25.4 percent to a 444,000 annualized pace, following a 354,000 rate in the prior month that was the weakest since April 2012, figures from the Commerce Department showed today in Washington. The median forecast of 62 economists surveyed by Bloomberg called for 429,000. 

Home sales are regaining strength as gains in employment and stock prices help consumers adjust to this year’s increase in borrowing costs and property values, which have hurt affordability. Builders such Hovnanian Enterprises Inc. (HOV) are optimistic about the outlook for the market, which will need to expand to meet the needs of a growing population. 

“The worst of the impact of higher mortgage rates seems to be behind us,” said Millan Mulraine, who forecast an increase in sales to 445,000. “If we continue to see improvements in employment and if mortgage rates stay where they are, we should see these levels sustained.” 

Economists’ estimates in the Bloomberg survey ranged from 375,000 to 450,000. The 25.4 percent increase from September was the biggest one-month surge since May 1980.
Other reports today showed hiring picked up in November, the trade deficit narrowed in October and service industries grew last month at a slower pace than projected.

More Hiring

Companies boosted payrolls by a more-than-projected 215,000 last month, according to figures from the ADP Research Institute in Roseland, New Jersey. The median forecast of 40 economists surveyed by Bloomberg called for a 170,000 advance. Estimates ranged from gains of 125,000 to 210,000. 

The trade gap decreased 5.4 percent to $40.6 billion from a $43 billion shortfall in September that was larger than previously estimated, the Commerce Department also reported. The median forecast in a Bloomberg survey of 63 economists called for a $40 billion deficit. Exports climbed to a record. 

The Institute for Supply Management’s non-manufacturing index decreased to 53.9 in November from 55.4 in the prior month, a report from the Tempe, Arizona-based group showed. 

Stocks rose as investors speculated the data would influence the timing of the Federal Reserve’s decision to trim stimulus. The Standard & Poor’s 500 Index climbed 0.1 percent to 1,796.66 at 10:13 a.m. in New York.

Delayed Data

Today’s Commerce Department report on home sales included combined October and September data after the figures were delayed due to the government shutdown. Purchases were down 6.6 percent in September from a 379,000 annualized pace in August that was weaker than the previously reported 421,000. The revisions and September data indicate the market took a bigger hit than previously estimated following the increase in mortgage rates. 

The median sales price decreased 0.6 percent from October 2012 to $245,800, today’s report showed. 

Purchases rebounded in all four U.S. regions in October, led by a 34 percent jump in the Midwest. 

The supply of homes dropped to 4.9 months from 6.4 months in the September which was the highest since August 2011. There were 183,000 new houses on the market at the end of October, down from 190,000 the prior month that was the most since December 2010.

Timelier Gauge

New-home sales, tabulated when contracts are signed, are considered a timelier barometer than purchases of previously owned dwellings, which are calculated when a contract closes. New construction accounted for about 7 percent of the residential market in 2012. 

In one sign of growing momentum, applications for building permits reached a five-year high in October. Permit requests rose 6.2 percent to a 1.03 million annualized rate, the most since June 2008, after a September pace of 974,000, the Commerce Department reported last week. 

The surge was paced by a jump in applications for apartments and condominiums, which increased 15.3 percent after a 20.1 percent gain in September. 

The annual pace of existing home sales fell in October to 5.12 million, the lowest level in four months, with buyers constrained by a limited supply and higher mortgage rates, the Realtors group reported last month. There were 2.13 million previously owned homes for sale at the end of October, down from 2.17 million the month prior.

More Growth

Builders see plenty of room for growth, said David G. Valiaveedan, vice president for finance at Hovnanian Enterprises Inc. based in Red Bank, New Jersey. At the market peak in 2005, builders began work on more than 2.2 million homes, compared with an average 907,000 annualized pace per month in 2013 through August. The industry “is way under-producing the long-term demand,” he said. 

“The experience of the last cycle in terms of the depth and length of the recession in housing has been a lot different than previous cycles,” Valiaveedan said at a Nov. 14 conference. “We firmly believe we have a lot of runway ahead of us and a lot of opportunity.” 

Article curated from Bloomberg

Home price gains slowing with winter's approach

The home real estate market is slipping into a winter lull that will cool rising home prices, a real estate research firm says.

 

Home prices rose by only 0.2% in October from September and virtually no growth is expected in November, market researcher CoreLogic says.

Still, prices were up 12.5% in October vs. a year ago, marking the 20th consecutive monthly year-over-year increase nationally.

"House price appreciation has slowed as expected for the winter," says Mark Fleming, CoreLogic chief economist.

Normal seasonal patterns and higher mortgage rates since spring explain why prices are no longer rising as rapidly as they did in the spring and summer, CoreLogic says.

The slowing pace also reflects a market showing "some level of normality," Fleming says, as investors, who have been buying up distressed homes for months, make up less of the overall activity.

Year over year, the five states with the highest home price appreciation were: Nevada, up 25.9%; California, up 22.4%; Georgia, 14.2%; Michigan, up 14.1%; and Arizona, up 14%.

The CoreLogic report follows last week's release of the Standard & Poor's Case-Shiller 20-city index for September. It showed prices up 0.7% in September from August and 13.3% ahead of a year ago.

While 13 of 20 cities showed higher year-over-year growth rates than in August, 19 cities had lower monthly increases in September than August, Case-Shiller said.

Many economists expect home price appreciation to slow next year. CoreLogic expects 2014 prices to rise 6% to 8% next year vs. a 10% to 12% rise this year.

Article curated from USA Today

Building Permits in U.S. Jump to Five-Year High

 

More applications for home construction were issued in October than at any time in the past five years, a sign the U.S. residential real-estate market is gaining momentum heading into 2014. 

Building permits increased 6.2 percent in October to a 1.03 million annualized rate, the most since June 2008, after a September pace of 974,000, figures from the Commerce Department showed today in Washington. The median estimate of 47 economists surveyed by Bloomberg was for a 930,000 rate. Figures for housing starts, which usually accompany the permits data, are delayed until Dec. 18 because last month’s government shutdown prevented the agency from gathering the data in time. 

The improvement over the past two months was paced by a surge in applications for multifamily housing that indicates growing demand for either rental units or condominiums. Improvement in the housing market may continue as a pickup in employment offsets higher borrowing costs, rekindling demand for new homes as existing inventories remain tight. 

“The economy is getting better,” said Brian Jones, senior U.S. economist at Societe Generale in New York, whose forecast for a rate of 985,000 permits was the highest in the Bloomberg survey. “Certainly the multi-family numbers are telling you it’s time to build.” 

Stock-index futures were little changed after the report. The contract on the Standard & Poor’s 500 Index maturing in December was at 1,802.8 at 8:50 a.m. in New York.

Survey Results

Estimates (NHSPATOT) for building permits in the Bloomberg survey ranged from 875,000 to 985,000. 

Permits for multifamily units climbed 15.3 percent in October to a 414,000 pace, the most since June 2008, and followed a 20.1 percent jump in September. Excluding a surge related to a change in New York City’s building code that took effect in July 2008, applications would have been the strongest since November 2007, the month before the last recession began. 

Single-family building permits climbed 0.8 percent last month to a rate of 620,000. 

The Commerce Department is postponing the release of housing starts data due to the government shutdown, the agency said last week in an emailed statement. November permits data will be also be released on Dec. 18, along with starts for that month and the previous two. 

Revisions for August and July housing starts were also issued with today’s report. Work began on 883,000 homes at an annualized rate in August, indicating construction will probably accelerate along with permits.

Regional Breakdown

Two of four regions had an increase in building permits in October, led by a 15.4 percent jump in the West, according to the report. Permit issuance also rose in the South, declined 9.6 percent in the Midwest and was little changed in the Northeast. 

On a year-to-year basis, building permits were up 13.9 percent last month. 

Mortgage rates that jumped 1 percentage point in less than two months crimped affordability for some homebuyers, weighing on demand, though rates have since stabilized. The average rate for a 30-year, fixed-rate mortgage was 4.22 in the week ended Nov. 21, down from a recent peak of 4.58 percent on Aug. 22, according to Freddie Mac, in McLean, Virginia. 

Federal Reserve officials are keeping an eye on the housing market as they consider scaling back their $85 billion-a-month bond-buying program, known as quantitative easing. Policy makers last week signaled they may taper “in coming months” if the economy improves as anticipated, according to the record of the Federal Open Market Committee’s Oct. 29-30 gathering, released Nov. 20 in Washington. 

Article curated from Bloomberg

Pending Sales of U.S. Existing Homes Drop for Fifth Month

The number of contracts Americans signed to buy previously-owned homes unexpectedly fell in October for a fifth consecutive month amid higher borrowing costs that are denting the real-estate recovery. 
 
The gauge of pending home sales decreased 0.6 percent after a 4.6 percent drop in September, the National Association of Realtors said today in Washington. The median projection in a Bloomberg survey of economists called for a 1 percent gain in the index from the month before. 

Higher mortgage rates and price increases driven by a tighter supply of homes for sale may be keeping some prospective buyers out of the real-estate arena. Further gains in hiring and confidence would help boost the housing-market recovery as well as the U.S. economic expansion. 

“When mortgage rates went up, people got spooked and rushed into the market to seal deals,” Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts, said before the report. “The numbers that we’re seeing for pending home sales are payback for the stronger numbers earlier this year.” 

Estimates in the Bloomberg survey of 39 economists for pending home sales ranged from a decline of 2.5 percent to an advance of 3.5 percent. 

The NAR’s report showed purchases decreased 2.2 percent from the year prior on an unadjusted basis. 

The pending sales index was 102.1 on a seasonally-adjusted basis, the lowest this year. A reading of 100 corresponds to the average level of contract activity in 2001, or “historically healthy” home-buying traffic, according to the NAR.

Facing Headwinds

“We could rebound a bit from this level, but still face the headwinds of limited inventory and falling affordability conditions,” the group’s chief economist Lawrence Yun said in a statement. “Job creation and a slight dialing down from current stringent mortgage underwriting standards going into 2014 can help offset the headwind factors.” 

Two of four regions showed a decrease from the September figures, led by a 4.1 percent slump in the West. Pending sales also declined in the South and rose in the Northeast and Midwest. 

Existing-home sales are expected to reach about 5.1 million this year and be little changed in 2014, the group said. Purchases weakened in October to a 5.12 million annual rate, the fewest since June, the NAR reported last week. About 4.7 million previously-owned homes were sold in 2012.

Mortgage Rates

While rising borrowing costs may have prompted some buyers to enter the housing market and lock in contracts before rates could advance further, that stimulating effect on purchases has showed signs of wearing off. The average rate for a 30-year fixed mortgage was 4.10 percent in the week ended Oct. 31, up from roughly 3.40 percent a year earlier. 

“Many housing analysts agree with the basic premise that housing demand in the future will exceed supply,” said Samuel Landy, president and chief executive officer of UMH Properties Inc., a real-estate investment trust based in Freehold, New Jersey, on a Nov. 21 earnings call. “The stronger housing market is predicted to last for a decade.” 

Positive momentum in the housing market has underpinned the economic expansion, with new homeowners heading to retailers to snap up appliances and furniture. For Spectrum Brands Holdings Inc., a Madison, Wisconsin-based manufacturer of products like faucets, locks and garden supplies, a pickup in housing would translate to improved profits. 

The company’s “retail sales correlate to existing home sales with a 6- to 12-month lag,” David Lumley, president of the company’s home and garden business, said on a Nov. 21 earnings call, noting that his division is “benefiting from the U.S. housing recovery.” Fourth-quarter sales in that category grew 18 percent, he said. 

Economists view pending home sales as a leading indicator because they track contract signings. Existing home sales are tabulated when a contract closes, usually a month or two later.

Article curated from Bloomberg

Taking Video Marketing to a Shorter Level

One, two, three, four, five, six and cut! That’s right, one of the latest social video sharing apps to make a splash with individuals and companies gives you just six seconds to capture your audience and share your message. Vine, created by Twitter, takes video marketing to a whole new level with its short-form, looping mini-movies.
The goal: entertain your customers to the point they want to watch your video over and over again, and get them to re-vine it (i.e. share it), so that all of their friends and friends of friends can see it too.



That being said, here are a few dos and don’ts when it comes to using Vine for marketing:

•     DO give your followers a sneak peak
•     DON’T create videos that won’t make sense to everyone
•     DO show off a new product or feature
•     DON’T squish longer videos into six seconds
•     DO show personality
•     DON’T shoot videos without a purpose or message
•     DO use the time lapse feature
•     DON’T just share your videos, revine videos from your customers or other related brands
•     DO use hashtags and encourage interaction
•     DON’T limit your videos to just Vine, share them across all social networks
•     DO give insight into your company culture

As you can tell from these dos and don’ts, the key to Vine is creativity. Whether you’re showing off your new model home, explaining the benefits of energy efficiency in quick pro-tip type videos, sharing a video your brand new homeowners took at closing or giving a sneak peek into a day into the life of one of your employees, deliver messages that are global and make your company stand out.

If you think you’re up to the challenge, I’d love to work with you to implement Vine into your company’s social media marketing strategy.

Article curated from Chicago Agent Magazine

One, two, three, four, five, six and cut! That’s right, one of the latest social video sharing apps to make a splash with individuals and companies gives you just six seconds to capture your audience and share your message. Vine, created by Twitter, takes video marketing to a whole new level with its short-form, looping mini-movies.
The goal: entertain your customers to the point they want to watch your video over and over again, and get them to revine it (i.e. share it), so that all of their friends and friends of friends can see it too.
That being said, here are a few dos and don’ts when it comes to using Vine for marketing:

• DO give your followers a sneak peak
• DON’T create videos that won’t make sense to everyone
• DO show off a new product or feature
• DON’T squish longer videos into six seconds
• DO show personality
• DON’T shoot videos without a purpose or message
• DO use the time lapse feature
• DON’T just share your videos, revine videos from your customers or other related brands
• DO use hashtags and encourage interaction
• DON’T limit your videos to just Vine, share them across all social networks
• DO give insight into your company culture

As you can tell from these dos and don’ts, the key to Vine is creativity. Whether you’re showing off your new model home, explaining the benefits of energy efficiency in quick pro-tip type videos, sharing a video your brand new homeowners took at closing or giving a sneak peek into a day into the life of one of your employees, deliver messages that are global and make your company stand out.
If you think you’re up to the challenge, I’d love to work with you to implement Vine into your company’s social media marketing strategy.
- See more at: http://chicagoagentmagazine.com/taking-video-marketing-shorter-level/#sthash.g91DvIQ8.dpuf

One, two, three, four, five, six and cut! That’s right, one of the latest social video sharing apps to make a splash with individuals and companies gives you just six seconds to capture your audience and share your message. Vine, created by Twitter, takes video marketing to a whole new level with its short-form, looping mini-movies.
The goal: entertain your customers to the point they want to watch your video over and over again, and get them to revine it (i.e. share it), so that all of their friends and friends of friends can see it too.
That being said, here are a few dos and don’ts when it comes to using Vine for marketing:

• DO give your followers a sneak peak
• DON’T create videos that won’t make sense to everyone
• DO show off a new product or feature
• DON’T squish longer videos into six seconds
• DO show personality
• DON’T shoot videos without a purpose or message
• DO use the time lapse feature
• DON’T just share your videos, revine videos from your customers or other related brands
• DO use hashtags and encourage interaction
• DON’T limit your videos to just Vine, share them across all social networks
• DO give insight into your company culture

As you can tell from these dos and don’ts, the key to Vine is creativity. Whether you’re showing off your new model home, explaining the benefits of energy efficiency in quick pro-tip type videos, sharing a video your brand new homeowners took at closing or giving a sneak peek into a day into the life of one of your employees, deliver messages that are global and make your company stand out.
If you think you’re up to the challenge, I’d love to work with you to implement Vine into your company’s social media marketing strategy.
- See more at: http://chicagoagentmagazine.com/taking-video-marketing-shorter-level/#sthash.g91DvIQ8.dpuf

Why Online Reviews Can Make or Break Your Client Base

You know that customer testimonials are important to your business, but do you know just how important they are? Consider this: 71 percent of online consumers say positive reviews make them more comfortable buying a product, according to a survey by PeopleClaim.com, a Web site that fields and publishes consumer complaints about all types of businesses. What’s more, 82 percent say online reviews are “extremely valuable” or “valuable” when making a purchasing decision.

This infographic from PeopleClaim.com illustrates how online reviews influence consumers’ buying behaviors and decisions. One thing worth noting upfront: Consumers are willing to pay more for a product that gets an “excellent” rating versus a “good” rating, according to the survey.

 

Article and Infographic curated from Realtor Mag

US Home Prices Rise at Slower Pace in September

A measure of U.S. home prices rose only slightly in September from August, a sign that prices are leveling off after big gains earlier this year.

Real estate provider CoreLogic said Tuesday that home prices increased 0.2 percent in September from the previous month. That's sharply lower than the 0.9 percent month-over-month gain in August and well below the 1.8 percent increase in July.

Prices still rose 12 percent in September compared with a year ago.

Higher mortgage rates and steady price increases began to slow home sales in September. As a result, price gains have cooled off.

Mortgage rates are still very low. And the average rate on a 30-year fixed loan has fallen to 4.1 percent in the past month, down from a two-year high of nearly 4.6 percent over the summer.

"This deceleration is natural and should help keep market fundamentals in balance over the longer-term," said Anand Nallathambi, president and CEO of CoreLogic.

Many economists expect the housing recovery to continue, though with slower gains in sales. Still, the spike in rates over the summer has weighed on the market. A measure of signed contracts to buy homes fell 5.6 percent in September to the lowest level in nine months.

There is generally a one- to two-month lag between a signed contract and a completed sale. The sharp drop in September suggests final sales will decline in the coming months.

The annual price gains are widespread, according to CoreLogic. Prices rose in all 50 states and in all 100 of the largest U.S. metro areas.

Price jumped 25.3 percent in Nevada from a year earlier, the most in any state. California (22.5 percent), Arizona (14.6 percent), Georgia (14.4 percent) and Michigan (13.9 percent) reported the next highest gains.

Home prices are still about 17 percent below the peak reached in April 2006, according to CoreLogic.

Article curated from ABC News

Pinterest: Another Way to Sell Yourself

Pin your marketing materials, videos, and special projects so clients can share what you're all about.

 

You’ll find some of Lee Cuellar’s listings on his Pinterest page. But it’s not entirely his intent to sell the homes — he’s really selling his marketing materials.

Cuellar, BPOR, SFR, an agent with Keller Williams Realty Pasadena Market Center in California, pins flyers, brochures, and home-tour videos he has created to his Pinterest page. The goal, he says, is to show clients what he can do for them.

“I want to showcase my marketing, postcards, and e-cards, because that’s how I get the most interest,” Cuellar says.

His marketing materials include his head shot, embedded in colorful orange and green circular graphics. He plays that up on Pinterest because “people always remember that,” he says. He also pins video slide shows that he has created for listings, which leads to his YouTube page, where clients can find more information about his services.

But you won’t just find a bunch of marketing pitches on Cuellar’s Pinterest page. You’ll also find out what his biggest passion is: mid-century architecture. Cuellar, who dubs himself “Mr. Mid-Century,” regularly pins photos of mid-century homes and buildings, showing not only who he is as a person but also his knowledge of a niche real estate market.

Cuellar’s interest in using Pinterest as a marketing tool was elevated after hearing speakers rave about the social site at a Keller Williams training camp in Austin, Texas.

“They said to make it more of a destination,” Cuellar says. “I’d been using it as just another tool in the toolbox. I’m trying to get away from just sharing things solely on Facebook. … I hope by me pinning more, more people will come to my Web site.”

Article curated from Realtor Mag