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"NAR Tools for Realtors "


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Bob Goldberg Photo
4/3/98 Interview with Bob Goldberg

NAR
430 North Michigan Avenue
Chicago, IL 60611
Biography

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How Realtors Use the Internet Daily to Make Money

  1. NAR initiatives such as the popular consumer site Realtor.com give RE pros an avenue for marketing themselves online - getting the broadest exposure to the most consumers at a fraction of the cost of any other advertising medium.
  2. The critical tool for Realtors is email; electronic communication allows agents to facilitate interaction between buyers and sellers.
  3. Internet connectivity keeps agents abreast of day-to-day changes in information on economic activity, sales trends and demographics for their marketplace.
Email Specialties

  1. During the next six months, the NAR will build a full set of listservers dedicated to certain RE specialties or geographic areas.
  2. The 50,000+ users of One Realtor Place and other NAR members will be surveyed to determine the kind of information they would like to be deliverable to them on a daily or weekly basis; members will be building their own profile.
  3. In addition to RE-related news topics, marketing could be another focus for lists.
Realtor.com

  1. This official site of the NAR gets more than 170 million hits per month; some two million consumers view more than 60 million individual homes per month.
  2. NAR members are allowed to post their listings through multiple listing services free of charge on Realtor.com; the site has a national inventory of 1.2 million homes from 301 multiple listing services in all 50 states.
  3. An advantage of Realtor.com over many other cyberspace listing opportunities is that the NAR controls the domain to protect the Realtors' position in the transaction; the dominance of Realtor.com as an Internet resource for residential listings assures that nearly all residential agents belong to NAR.
  4. The site is attractive to consumers because it holds so many listings with a common search engine and common format, plus other decision support information; automatic loading of listings makes them very current for consumers.
  5. Generating traffic is the key to success for an Internet site; the NAR's operating partner Real Select is forging arrangements for Realtor.com to be the exclusive Real Estate Internet resource for major search engines such as InfoSeek and for the leaders in communications industries (NBC.com, AOL and USA Today).
Role of the Realtor

  1. Buyers and sellers can get as much information from the Internet on their own as they wish; however, they still look to their Realtor to be the subject-matter-expert and the key facilitator for the RE transaction process.
  2. With consumers coming to the Realtor now much better informed, the entire process is enriched; the Realtor has the opportunity to assist them in making the best educated decision.
NAR Tools for Realtors

  1. One Realtor Place is an Intranet site just for Realtors that is accessible through Realtor.com; its recent redesign makes it much easier to navigate - to log-on now, use the number on your label on Today's Realtor magazine plus the last four digits of your Social Security number as your password.
  2. Internet providers have to reinvent themselves every 6-12 months because so many new tools become available to web designers; One Realtor Place will be updated again in another 3-6 months.
  3. The National Realtors Database System (NRDS) is a standard, centralized Internet-based membership identification network about to be launched by the NAR; it will allow a brand new Realtor on the local level to be recognized at once on the state and national levels by virtue of a unique identifier for every Realtor.
  4. Besides print education in the magazine, the NAR promotes the benefits of the Internet at major national and state trade shows and in training sessions; One Realtor Place offers its own training ground.
Realtor.com as an Aid to the Realtor

  1. Realtor.com is the front building block for electronic transactions; once the search process is launched on the Internet, it is a natural progression to add other decision support elements such as comparisons of salary, insurance rates, schools, etc.
  2. Email interface between the prospective buyer and the Realtor is already a reality; consumers can use the site to search directly for a Realtor with certain qualifications and credentials.
  3. 3 Independent sites offer demographic information or attempt to automate elements such as the loan process, but Realtor.com will tie them together at the point of consumer interest.
  4. Realtor.com includes integrated links to outside sources for some kinds of information and tools; i.e., an excellent school evaluation site will be added in the next month.
The Direction of the Internet

  1. There will always be a need for tangible, portable print services, but the Internet has a distinct advantage with the low cost of distribution to carry information and the ability to offer a comprehensive inventory that can be easily indexed and searched.
  2. The RE industry tends to question itself, but the outside world perceives the industry as a Cyberspace leader; Realtors have been active on the Internet by the hundreds of thousands and have drawn consumers to themselves.
  3. As the Internet continues to link home buyers and sellers electronically with the key stakeholders in the RE industry, transactions will become faster and more streamlined and closings will be less costly.
Favorite Sites on the Web

The Taxi Stand, a section of One Realtor Place, helps members link to key informational sites such as Fannie Mae (tremendous information on fair housing and equal opportunity) and recyber.com.

Contact Information for Bob Goldberg:

(v) 202-383-1187
(f) 202-383-1279
(e) bobgoldberg@realtors.org
(w)www.realtor.com


Real Estate Sites & Tools in this Briefing:

Realtor.com
One Realtor Place (NAR members only): access through Realtor.com
National Realtors Database System (NRDS): To be launched soon by NAR
School evaluation site
Fannie Mae