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REIQ Journal : February 2010
Dan Molloy, Managing Director, REIQ In the December 2009/January 2010 edition of the Journal, I reported on the 2009 National Association of Realtors (NAR) Annual Convention held in San Diego in mid-November from a market and economic viewpoint. HAVING GAINED A rst-hand understanding of the economic landscape in the US and its impact on our economic fortunes, the convention highlighted the impact of the online phenomenon that is social networking. The explosion of social media was the undisputed talking point of the convention. A number of sessions examined social media sites such as Facebook, LinkedIn and Twitter, and reviewed their purpose, culture and language. Many of the social media sessions were facilitated by Gen Y professionals around the theme of "dealing with us". Stefan Swanepoel, who presented at REIQ's sales success conference in 2008, released his Social Media Report 2010 at the convention. There are now 95 million Gen Y's in the USA and Stefan suggests they will outnumber Baby Boomers in 2010. The potential impact of this generation of consumers will be awesome. The key message was that word-of- mouth is more important than ever, but the medium is di erent. Many practitioners are falling into the trap of using social media tools as they have the web and email - as advertising media for product. This is a turn-o to the new consumer who is communicating with his or her peers to share experiences, make recommendations and allow others to form relationships with exceptional service providers. It is clear that a proper plan needs to be developed before leaping into the social media arena. Without the right motivation, de ned purpose (business or personal) and an ability to add value, the social media experience may leave the well-meaning practitioner disheartened and with a diminished reputation. Look for more articles on social media in the Journal throughout 2010. Attendance at a NAR Convention is a worthwhile experience for anyone serious about long-term success in the industry. NAR 2010 is to be held in New Orleans from 5 -- 8 November and returns to Anaheim, California in 2011. Explosion of social media under the spotlight at NAR By Dan Molloy, Managing Director, REIQ Conference information The most unique real estate event, the only one of its kind in the world. BWIREC is not just about marketing success but also about how to maintain a balanced quality of life with wealth creation strategies, which is the real purpose of our life, isn't it? Book your ticket today The event will be held on Sunday, 15 and Monday, 16 August 2010 at the Brisbane Convention & Exhibition Centre, South Brisbane. Super Early Bird Ticket Price from only $590 (incl GST) prior to 15 March, 2010. Call +61 7 3373 9892, email firstname.lastname@example.org or visit www.bwirec.com.au for more information. Would $4 million commission a year make a difference to your family? Come to BWIREC for a small fee to meet great real estate heroes with a proven track record. There will also be extra opportunities for photos and private questions. Confirmed speakers » Peter Huang : Turned $100 into $80 million net assets in a short period through his real estate career. » James Tostevin : Produced $4 million gross commission this year, the highest fee earned by an Australian real estate industry speaker. » Amber Werchon : A marketing guru and multi-million dollar fee producer. » Wayne Ihaka : A million dollar fee producer. » Matthew Gross : Prominent national property researcher will arm you with the right ammunition. » Wendy Alexander : From the company controlling 35% market share of the whole greater Auckland city. » Tom Panos : A great auctioneer, real estate top performer and prominent speaker. » Chris Hanley : From a company controlling over 50% of the local real estate market. REIQ Journal February 2010 Industry News 6
December January 2010