Friday Five: How to share your company’s messages where your potential buyers currently congregate – on Facebook

March 12, 2010 · 1 Comment

Virtual Views is starting a new column titled, “Friday Five,” which is an informative quick read that gives you the top five points on a particular real estate-related topic – including trends, neighborhoods, industry changes and more.  We’d appreciate your feedback.  What topics would you like to hear more about? E-mail us and we’ll include it in a future Friday Five.

By: Brad Horner

Of Facebook’s 300 million users (making it the largest social network on the Web), an estimated 175 million of them log onto Facebook each day.  And that staggering number doesn’t even include those using Facebook Connect.

Builders and developers cannot afford not to have a presence on Facebook, especially considering that 90% of homebuyers start their home search online.  Facebook provides an unprecedented marketing opportunity to share information about your development on a social network where your potential buyers are already congregating.

But there are clear rules by which you need to abide in order to be seen as a trusted source of useful information and not an annoying spammer.  Here are our top five hints about how to utilize Facebook as part of your development’s comprehensive marketing program:

  1. Facebook and corporate Web sites have very different rules and languages.  While it’s expected that a company’s Web site will contain very sales-y language, that type of language is not used – or tolerated – on Facebook.  Instead, use an entertaining conversational-style tone on Facebook and offer compelling information.  Do not – I repeat – do not solely promote your brand or product.  Consumers don’t want the same door-to-door salesman knocking on their doors every single day pushing company messages, and they don’t want to see companies doing the same on Facebook.  Instead, offer a mix of fun information about the neighborhood, informative updates about the real estate market and links to articles of interest, in addition to information about your development’s latest offerings.  Truly engage with your fans.
  2. Facebook’s advertising opportunities provide a way to share your message with an extremely targeted audience for a very reasonable price.  Unlike most advertising vehicles, Facebook allows you to target your exact demographic by identifying the age range, location, interests, employment status and more.  Use these ads to promote limited-time deals, special events and the community’s unique amenities.
  3. Take advantage of the many ways you can tailor the company’s Facebook page.  Of course, include links to your Web site and blog and upload photos of model homes and events.  But there are also applications that will allow you to post virtual tours, collect contact information for future communication, automatically upload new blog posts and post presentations.
  4. Fully promote your events on Facebook by including photos, videos, directions and links to helpful information.  And when fans RSVP via Facebook to an event, it shows up on their wall, thereby exposing the event to additional networks.
  5. Take advantage of Facebook’s Insights.  Regularly monitor your fanbase and page interactions.  How quickly is your fanbase growing and what is the demographic breakdown?  Are you losing fans?  What links/photos are being clicked the most and how can you use that information to tailor future posts?  What type of updates prompt the most feedback?

Categories: Friday Five · Sales and Marketing · social media

4Q2009 Quarterly Review of Metro Atlanta just released!

February 28, 2010 · Leave a Comment

By: Brad Horner

Welcome to the 2009 Annual Review edition of The Development Advisor, our quarterly report of the metropolitan Atlanta residential market. This report utilizes data based on transactions that closed in 4Q09 and compares it to that of 4Q08 as well as 1Q09, 2Q09 and 3Q09. We have compiled much of our information from our proprietary Universal Data Base, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.

As we begin a new decade and look back over the past few years, many of us are relieved that one of the most challenging times in Atlanta real estate may be behind us. Overall, the results in the fourth quarter continued the improvement over the low points established in 4Q08 and 1Q09, signaling further signs of a slow recovery.

Similar to the third quarter of 2009, we continued to see mixed messages indicating a possible long awaited turn in the market. Absorption levels increased for new condo/ townhomes, but decreased for new single family and both types of resale. Average sales prices for new and resale condo/townhomes increased while prices for new and resale single family decreased. Even though sales prices are down overall compared to 4Q08, we have seen a light at the end of the tunnel with resale single family up 0.9%

The most significant news lies in the fact that current inventory levels continued their year long decline in 4Q09, with a 25% decline in all active listings compared to 4Q08. With building permits at historic lows and very little new construction condominium/townhome inventory being delivered in the foreseeable future, there was a 41.5% decline compared to 4Q08.

The extension of the tax credit and the expanded tax credit for current homeowners, combined with historically low interest rates and the second highest affordability index have created the perfect time to take advantage of homeownership. However, the pressures of high unemployment, difficulty in obtaining a mortgage, foreclosures and short sales continued to play a significant role in the uncertainty of the overall market’s improvement.

We hope you will find this edition of The Development Advisor informative and useful. Today’s market is unlike any we have experienced in the past, making it even more important to work with a sales and marketing partner that has a thorough and complete understanding of today’s challenges. We welcome any questions that you may have regarding this report and the future of the Atlanta residential real estate market.

Categories: Housing stats in Atlanta · NRT Development Advisors · Real Estate · Sales and Marketing · Uncategorized
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2009’s top sales agents and employees recognized

February 22, 2010 · 1 Comment

Coldwell Banker NRT Development Advisors recently named its top sales agents and employees, based upon 2009 home sales and performance:

  • Agents of the Year -  New Home Sales  – Gross Commission Income: Shira Broder (first place), Kelly Guidry (second place) and Donna Robinson/Kelly Campbell team
  • Agents of the Year  -  New Home Sales – New Homes Sold: Shira Broder (first place), Kelly Guidry (second place) and Sara Bednar/Sherry Gandy (tie for third place)
  • Agents of the Year – REO/Resale – Gross Commission Income: Kathy Phillips (first place), Tammy Weniger (second place) and Liz Baska (third place)
  • Agents of the Year – REO/Resale – Units Sold: Barbara Morgan (first place), Toni Taggert (second place) and Dottie Kurtz (third place)
  • Extra Degree Award: Judy Price
  • Professionalism Award: Kathy Phillips
  • Outstanding Attitude Award: Josh Tipton

The internal awards were supplemented by national recognition given by NRT LLC (the nation’s largest residential real estate brokerage family, of which NRT Development Advisors is part).  NRT Development Advisors received several honors:

  • Rookie Sales Associates of the Year in Gross Commission and Total Units: Shira Broder
  • Top Associates in Building and Development for NRT: Kathy Phillips – gross commission income and Barbara Morgan – total units
  • Top Office in Building & Development in Gross Commission and Total Units for NRT

In 2009, we asked the impossible of NRT Development Advisors’ employees and agents, and they certainly delivered.  In what was such as a challenging year for most in real estate, NRT Development Advisors pulled together and became stronger than ever, delivering solid results for all clients and creating demand for the company’s services – so much so that we had to increase our geographic footprint and service offerings as a result.

Categories: NRT Development Advisors

NRT Development Advisors signs six new clients

February 9, 2010 · Leave a Comment

Coldwell Banker NRT Development Advisors has continued its 2010 momentum and growth by signing six new clients!

We were recently selected to exclusively market and sell six new home communities in metro-Atlanta, Ga., Orlando, Fla. and Chattanooga, Tenn. The properties – which total approximately 850 units for an estimated sellout of more than $222,664,000 – include:

  • 1010 Midtown in Atlanta, Ga.
  • Kirkwood Station in Atlanta, Ga.
  • Lofts at 5300 in Chamblee, Ga.
  • Millside Manor in Dacula, Ga.
  • Mosaic at Millenia in Orlando, Fla.
  • The Pinnacle in Chattanooga, Tenn.

Developers and banks know that a very strategic and targeted marketing and sales execution is vital to sell homes  in the current market, which is why those in the Southeast are increasingly turning to Coldwell Banker NRT Development Advisors for a innovative approach to marketing and sales.  We are proud to partner with these communities and develop creative campaigns that keep the communities in front of their prospective buyers and increase the properties’ traffic and, as a result, closings.

We wish everyone a successful 2010!

Categories: NRT Development Advisors
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Poised for a successful 2010!

January 8, 2010 · Leave a Comment

By: Brad Horner

Happy new year!

We are proud to share this exciting company news with you.  Based on our 2009 success, we are well positioned in 2010 to be the region’s new homes real estate sales and marketing leader.  The following is just a highlight of our accomplishments:

  • During 2009, NRT Development Advisors lead the market in the implementation of creative repositioning strategies for developer clients with new construction communities, resulting in immediate increases in qualified traffic and closings.
  • We successfully created an innovative sales and marketing platform for bank-owned new construction homes, achieving more than $125 million in sales.
  • The company has expanded its territory to cover Georgia, Florida, North Carolina, South Carolina, Tennessee, Virginia and Washington, D.C. due to client demand.  
  • We surpassed our 2008 sales in 2009.
  • The company attained the status of #1 New Home Real Estate Company in Atlanta for all property types, as well as for Multi-family Sales according to Trend Graphics (which is based on FMLS data).  

Our ability to offer the highest level of resources and talent from a specialized team of new home professionals – as well as the industry insight and connections due to our partnerships within Coldwell Banker, NRT and Realogy Corporation – helped to expand our list of developer and bank clients, services and territory.  
 

It’s rewarding to work for a company that is an exception to the rule in such a challenging economy, as our 2009 success has lead to 2010 growth.  In the past year, NRT Development Advisors worked with real estate developers, investors and financial institutions to develop creative sales and marketing strategies that resulted in large volumes of homes being sold, while still preserving the integrity of developments and neighborhoods, and clients have tapped us to duplicate these success stories in other markets this year.

Categories: New Years 2010 · Real Estate · Sales and Marketing
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December 17, 2009 · Leave a Comment

By: Brad Horner

2009 was a year that continually reminded me of the many “life lessons” that I learned when I was young: 

 Only the strong survive…You can keep going long after you can’t… Knowledge is not wisdom; wisdom is knowledge applied with discernment... You can’t control circumstances, but you can control your response to them… Life isn’t fair… Relationships are priceless… Plan ahead because you never know what tomorrow will bring…Tell people what they need to hear, not what they want to hear… You’re never alone…

Admittedly, I didn’t give these life lessons much weight when I was younger, but all of them proved to be true in business in 2009 – many times over, in fact.  It has been a year that tested every company’s strength and resilience, as well as every new homes sales professional’s flexibility and spirit. 

But we’ve pressed on together and, as a result, have accomplished many successes that didn’t seem possible at the beginning of the year.  It’s satisfying to look back on the year and know that we surpassed our 2008 sales volume while  achieving the #1 Real Estate Company in Atlanta Multi-family Sales in 2009* as well as selling over $103 million in bank owned distressed assets.

NRT Development Advisors stood strong with our clients against the blows that the economy brought to the real estate market and responded with sales strategies and marketing campaigns that were uniquely tailored, effective and data driven.  We were able to continually refine programs to speak to the ever changing market and consumer mindset due to our position ‘in the trenches’ with our clients. 

There’s one more life lesson that stands out: Make every day count.  Every day brings another opportunity to make a connection with a new buyer or bring a unique solution to a client.  And we vow to continue to capitalize on every single day as your trusted partner through 2010 and beyond.

* According to , Trend Graphics, Trend Over Time Report based on FMLS November 2009

Categories: Real Estate

3Q2009 Quarterly Review of Metro Atlanta just released!

November 20, 2009 · Leave a Comment

By: Brad Horner

The Coldwell Banker NRT Development Advisors’ 3Q 2009 edition of The Development Advisor, the company’s quarterly review of the metropolitan Atlanta residential market, has just been released. This report utilizes data based on transactions that closed in 3Q09 and compares it to that of 3Q08 as well as 1Q09 and 2Q09. We have compiled much of our information from our proprietary Universal Data Base, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.

 Overall,  3Q09 performance demonstrated a continuance of the trends we witnessed during 2Q09, demonstrating  significant improvement over 4Q08 and 1Q09. During the third quarter, several key indicators suggested the beginnings of a possible stabilization in the market, while other data revealed a market still very much under pronounced stress. Absorption levels increased for condo/townhome product, but decreased for single family homes. Resale price increased slightly, while price for new construction showed a continued decline. The pressures of high unemployment, difficulty in obtaining a mortgage, foreclosures, and short sales continued to play a significant role in sustained market volatility.

On the positive side, the $8,000 first time home buyer tax credit, historically low interest rates, and the second highest affordability index on record have combined to encourage homebuyers to move from the sidelines and take advantage of home ownership. The extension of the tax credit and the introduction of a credit for current homeowners should bolster sales volume through the winter months and into 2010, though sustained levels of foreclosure activity will likely keep a lid on any significant increases in average sales price.

 For the 15-county metro area, 3Q09 total absorption was down 10% compared to 3Q08. However, quarter over quarter results showed a general continuation of 2Q09 market performance. Compared to 3Q08, resale absorption was down by 6% while new construction declines exceeded 26%.

 When compared to 3Q08, the fall in average sales price continued to be more pronounced in resale transactions versus new construction, primarily due to short sale and foreclosure transactions.  However, new construction will likely close the gap in the months ahead, as aggressive pricing strategies implemented by developers and banks during the second and third quarter begin to show up in closing data.

 With building permit issuance at continued historic lows, 3Q09 combined multi and single-family inventory levels remained well below 2008 levels.  Reported new construction inventory levels were 43% below 3Q08 figures, and ended 8% below 2Q09 levels. While 3Q09 resale inventory decreased 15% since 3Q08, levels increased by approximately 4% over 2Q09.   Sustained high levels of unemployment will necessitate close monitoring of foreclosure activity throughout the balance of 2009 and into 2010, as this presents the greatest challenge to normalizing supply levels.

We hope you will find this  edition of The Development Advisor informative and useful.   The challenges of the current market are complex and require a multi-disciplinary approach, making it even more important to work with a sales and marketing partner that  possesses the ability to assess the current environment and anticipate future conditions. We welcome any questions that you may have regarding this report and the Atlanta residential real estate market.

Categories: Real Estate · Sales and Marketing · Uncategorized
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NRT Development Advisors releases first quarter 2009 review of Atlanta housing market

May 20, 2009 · 1 Comment

By: Brad Horner

As you might have seen in Friday’s Atlanta Journal-Constitution article, 3 year supply of condos available in Buckhead, Coldwell Banker NRT Development Advisors recently released the first edition of The Development Advisor, the quarterly review of the metropolitan Atlanta residential market. This report utilizes data based on transactions that closed in 1Q 2009 and compares it to that of 1Q 2008.

Some of the findings were as expected, but some were rather surprising.  While positive news on the national front is always welcome, we know that real estate is extremely localized. Although the metropolitan Atlanta market did not see the high levels of appreciation that other markets witnessed over the past few years, Metro Atlanta has still seen a significant decrease in absorption and sales price over the past year. This is primarily due to the nation’s economic recession, Atlanta’s significant unemployment rate, an oversupply of new construction, restrictions placed on lending guidelines and the amount of existing and new home foreclosures.

Findings include:

  • In Q1 2009, total closings were down 20% compared to Q1 2008 for the 15-county metro area, with condominiums and townhomes experiencing the largest decline (with absorption down by 34 percent).
  • The overall average sales price during Q1 2009 for the 15-county metro area for new construction and resale combined was down from the same period the prior year with single-family homes declining the most by approximately 28%. This decline is primarily due to a significant erosion of sales price in the resale market, attributable to foreclosure activity and continued downward pressure on pricing.  Average sales prices for new construction homes, however, have declined by only 8% for condominium / townhome and 11% for single family homes, an indication that there could still be a large amount of over-priced inventory to be absorbed.
  • New construction was hardest hit, falling 43% to 1,962 and representing 14.7% of all sales in Q1 2009. This represented a huge decline in sales of new construction, which in Q1 2008 accounted for 20.6% of sales.
  • The number of permits issued for single-family homes and condominiums / townhomes has reached an eight-year low in Q1 2009, partially due to difficulty obtaining project financing, over-supply / low demand and high construction costs.
  • End of Q1 2009 inventory levels for the 15 county metro area (condominium/townhome and single family combined) decreased by approximately 24% from the same period in 2008, with new construction and resale inventory levels falling by approximately 34% and 21%, respectively.
  • New construction foreclosure sales activity in Q1 2009 increased significantly over 1Q 2008. For the first quarter of 2009, foreclosure activity represented 27% of all single family new construction sales, and 27.4% of all condominium/townhome new construction sales, respective increases of 573% and 1,144 percent over the same period last year.
  • The number of refinance loans were 319% higher in January 2009 compared to January 2008.

Most of the information in the report was compiled from our proprietary Universal Data Base, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.  You can view the full report here.

Categories: Real Estate