Your good name is important. According to the Federal Trade Commission, there may be as many as 9 million identity theft victims. Get the latest information from NAR and the Federal Trade Commission and keep your identity and personal information safe at home and at work in this updated field guide. Find out what to do and who to contact if you are a victim of identity theft.

Posted on July 30 at 10:01 AM | Permanent Link | Add a Comment (0)

According to a new study published by the Keller Center for Residential Real Estate Sales & Marketing at Baylor University's Hankamer School of Business lead generation tactics need to reflect market conditions. In his article, "Lead Generation: What Really Works?," Dr. Chris Pullig, director of the Keller Center, reports that strength of market and lead conversion strategy have a complex nonlinear relationship. Lead Generation techniques were categorized as 'seek' or a proactive approach - telephone calls, networking, or referrals - or as 'attract' or marketing strategy employing tactics such as advertising or direct mail and then waiting for the phone to ring.

The survey found that in a "stable" market, a balanced approach appears best in lead conversion. That is, an approach that is about 50% "seek" and 50% "attract" results in the greatest percentage of leads being converted to an appointment and a transaction. When the market is "tough," agents should switch to a more seek-oriented strategy with a ratio of approximately 60% to 40% in seek vs. attract. And when the market is "healthy," a strategy that is more "attract" oriented is best. Marketing your properties in a more traditional way (i.e., advertising) with less focus on seek strategies may be more appropriate when the market is more healthy.

What do individuals doing well in a tough market do differently than their peers?

According to the report,

[They] report significantly higher conversion rates to appointments (54% vs. 43%) and closure to a transaction (52% vs. 42%). They also spend significantly more on their Internet/Website lead generation activities (18% vs. 12%) and IVR Technology (3% vs. 0.5%). These individuals also report significantly less spending in Signage (9% vs. 12%) and Open House activities (5% vs. 9%) when compared to those who are not doing as well. And, these individuals report that they are more "seek" oriented than their peers.

Posted on July 28 at 09:49 AM | Permanent Link | Add a Comment (0)

From the NAR Archives: Laser-powered lockboxes, driverless talking cars, and some seriously funky clothing are just a few of the features of the real estate industry of the future -- or at least they were in 1991, when this short film was created for NAR"s State & Municipal Issues Forum. While some of the film's predictions are over-the-top, others weren't too far off, such as rapid online access to property information.

Posted on July 14 at 09:15 AM | Permanent Link | Add a Comment (0)