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The Internet has brought about a radical change in the real estate industry, owing to its potential to
reach a global audience. The traditional real estate business involves publishing listings in appropriate
publications, television channels and monthly newsletters, which may be distributed around the
concerned area. Toady, real estate agents can post these listings on the Internet and reach customers
from any part of the world. A real estate website offers two main advantages as mentioned below:

• Widening the exposure of the real estate listing
• Widening the exposure of the real estate services

The business can also be carried out in two ways. The first method is to launch the real estate website
to target prospective customers in a particular geographic location. The second method is to offer the
services to a bigger geographic area that could cover an entire country. As an agent you can represent
the interested  buyers across the country, but at the same time allow other agents to post their listings in
the website. The commission from sales referred from your website will generate additional revenue.

Business Potential
An online real estate business has a high scope in the international market, as people, who move to
regions that are covered in your website may seek your services and real estate listings.

Skills Required
The work of an online real estate agent is quite similar to that of an offline agent, and hence should have
the license to carry out the business in any particular area. It would be useful to have a good idea of all
the available Internet marketing techniques.

Challenges
The real estate business website can have any level of sophistication, and may not require online
payment processing facilities, as you can receive payment from customers directly. If the website is
designed to allow real estate agents update their listings, then a completely integrated database is
essential for holding these listings.

All the listings placed on the website should be precise, so that visitors are not mis led. In case, there are
any changes in the listing, with regard to price, features and availability or non-availability, the website
must be updated instantly with fresh information. For instance, if a house is already sold, and the listing
on the website is not updated, a potential buyer who contacts you and learns that it is sold, will be
disappointed, and may decide never to visit the website again.

If other agents are allowed to post listings on the website, there should be a means to monitor these
postings. First of all, people who do not possess a real estate license should not be allowed to post on
the website. Further, there should be a password-protected access to the database for agents to update
listings with text or images. The license number can be used as a unique ID for each agent, in order to
track them easily. This is also an easy means to refer to them while searching the database. Every listing
on the website should be assigned a distinct listing number. Any visitor, who is interested in listing on
the website, can opt for a real estate agent, who can be contacted about the listing. They can do this by
filling up a form, which integrates with their choice and generates the listing number. Then you should
inform that particular agent and convey the visitor’s interest in the listing. Thus, it becomes easier to
track referrals.

Initial Employee Requirement
As there are two methods to operate this business, the number of employees is determined by
the method opted. If the website will represent only your real estate listings, you can manage the
operations by yourself. However, if it is going to focus on a broader region, the number of employees
will range from one to three. They should handle promotional activities (both online and offline),
respond to service requests and handle the administration of routine business operations.

Essentials
You need purchasing computer hardware, software, printer, scanner and digicam. If they are already at hand,
the expenses will be relatively lower. The real estate listings database is quite expensive, particularly
if you intend to offer services to real estate agents around a large area. If the database is used to hold
only your listings, the cost will be lesser. A tracking system will be required to track referrals to the real
estate agents represented by your website. Full-fledged web traffic analysis software will help track the
traffic source, and provide useful information for future marketing plans.

Marketing

Banner advertising campaign is a useful technique to increase the traffic by placing banner
advertisements on websites related to relocation, real estate, home buyers and those pertaining to the
geographic location of your business.

Links from websites, directories and meta-indexes, which are related to the real estate business,
relocation, and based on the geographic area represented by your website, will also draw more visitors.

Joining forums and newsgroups, which are related to the geographic area represented by your business
and real estate facts is an effective marketing method. Your professionalism can be highlighted by giving
worthwhile contributions, which will impact the audience. The signature file should be as good as an
advertisement for the business.

Joining mailing lists, which are related to the target audience, is a profitable means to bring more
visitors. Here again, a worthwhile contribution and an optimal signature file will accomplish a lot.

Sponsored listings programs with popular search engines will be useful to bid on the desired keyword
phrases.

Viral marketing will add to the website exposure, as visitors can invite or inform their friends from the
website, via links such as ‘Invite a Friend.’

Setting aside a part of the website for a featured listing will persuade curious visitors to re-visit the
website. If the website represents several locations, then a featured listing can be designed for each
location. Notifying interested visitors via e-mail about updates in this part tends to draw them again and
again.

New buyers who are interested can be notified by e-mail about new listings in a particular town or city
represented by your website. Thus, you can keep in touch with the market.

More income will come from sale of advertising space to other non-competing websites that focus on
the same audience.

Related posts:

1. Make Money From an On line Real Estate Site