16 pc employers in India struggle to fill posts due to talent crunch

Fri, May 21 12:15 PM; Employers in India and across the globe are finding it difficult to fill job positions despite the recovery in job markets due to lack of workforce with the right skills, according to staffing services firm Manpower.

Manpower Inc's fifth annual talent shortage survey released on Thursday states that 31 per cent of the employers worldwide are still struggling to fill vacant positions, while in India, the talent shortage figure stood at 16 per cent.

The survey states that talent shortages persist in many countries and industry sectors. Thirty-one per cent of the employers report facing difficulty in filling key positions within their organisation -a rise of one percentage point compared to 2009.

Employers are finding it difficult to hire suitable talent in skilled trades like sales representatives, technicians and engineers, the report found after a survey of more than 35,000 employers across 36 countries.

These are the same jobs where employers have reported to be struggling for filling positions over the past four years, demonstrating that there is an ongoing global mismatch in these key areas.

Employers who are facing the maximum difficulty in finding the right people are based in Japan (76 per cent), Brazil (64 per cent), Argentina (53 per cent), Singapore (53 per cent), Poland (51 per cent) and Australia (45 per cent).

''We are seeing a 'jobless' recovery in many parts of the world, yet where there are jobs available, employers are having difficulty filling positions,'' the report states.

''The issue is not about the number of potential candidates, but rather a talent mismatch, because there are not enough sufficiently skilled people in the right places at the right times,'' Manpower India managing director Sanjay Pandit said.

In the Asia-Pacific region, the countries that are finding it difficult to find the right talent are Japan (76 per cent), Singapore (53 per cent), Australia (45 per cent), Hong Kong (44 per cent), Taiwan (41 per cent), China (40 per cent), New Zealand (30 per cent) and India (16 per cent).

The report further reveals that in the Asia-Pacific region, talent shortages mirrored those of the rest of the world, with 41 per cent of the region’s employers indicating they are having difficulty filling positions due to the lack of suitable talent in their markets.

This is a nine percentage point increase compared to a previous survey conducted in 2009.

''Employers are seeking more specific skill sets and are less willing to engage in anticipatory hiring. This all adds up to a very challenging and frustrating time for employers and jobseekers alike,'' Pandit added.

The report also says skilled manual trades, cleaners and domestic aid, accounting and finance staff, doctors and nonnursing health, financial and sales representatives are the top five positions where Indian employers are finding it difficult to hire suitable talent.

The study suggested employers to broaden their search for candidates to include industry migrants, location migrants, role changers and workforce entrants. Training and development are the key to successfully tapping into these talent pools.

Career in Property Brokerage

The property broking profession offers one of the widest career selections in the business world today. Helping people buy and sell homes, office buildings, industrial property and agriculture farmland, property management, initial counseling in mortgage banking, and on-the-ground research are all aspects of a career in real estate brokerage.

Job Profile: Significant Points

• Sell, for a fee, real estate owned by others.
• Obtain agreements from property owners to place properties for sale with real estate firms.
• Monitor fulfillment of purchase contract terms to ensure that they are handled in a timely manner.
• Compare a property with similar properties that have recently sold, in order to determine its competitive market price.
• Act as an intermediary in negotiations between buyers and sellers over property prices and settlement details, and during the closing of sales.
• Generate lists of properties for sale, their locations and descriptions, and available financing options, using computers.
• Maintain knowledge of real estate law, local economies and types of available home financing options.
• Coordinate work processed by lenders, advocates, and other professionals to ensure that it is performed properly.
• Appraise property values, assessing income potential when relevant.

Professional aspects:

• At present, there is no license required to start working as real estate or property broker or agent in India (Except in the state Haryana).
• Real estate brokers and sales agents often work evenings and weekends.
• Although gaining a job may be relatively easy, beginning workers face competition from well-established, more experienced agents and brokers.
• Employment is sensitive to swings in the economy, as well as interest rates; during periods of declining economic activity or rising interest rates, the volume of sales and the resulting demand for sales workers fall.

Advantages and Rewards of a Career in Real Estate
This is the only profession that offers you three options to build and grow your career-First become an independent professional property broker and second join an established property broking firm as an employee. In case of third option, people initially work for property broking firms for few years before establishing their own property brokerage agency.

A career as real estate broker (also called real estate agents, estate agents, property agents, property advisors, property consultants and property dealers) provides flexibility and freedom to set your own pace. Income directly reflects your efforts, with no limits on what hard-working and intelligent men and women can earn. Successful real estate agents are goal-oriented, persevering, self-motivated, ambitious and people-oriented. The rewards of the career in real estate consulting are a potential for high earnings, autonomy, time freedom, helping people, the intellectual challenge and the satisfaction from those accomplishments.

Working in real estate allows for independence and choices of environment in which to work, such as work directly with real estate developers as their authorized property agent or get affiliated with large property dealers as a franchisee. It is very common in real estate brokerage profession to find people who started alone and independently and today employ hundreds of people. This shows that you can achieve anything in real estate, if you have desire to achieve and will to perform. However, a word of caution-Real estate is today excessively competitive business and to survive and succeed, you have to perform and there is no alternative to hard work and perseverance.

Education for a Career in Real Estate Brokerage
Though in India, there is no prescribed and mandatory educational requirement to work as real estate broker, it is advisable to do some course in real estate. There are institutes that today offer thoroughly practical real estate courses. If you have done such courses, you will not face problems while on the work. Moreover, these courses become highly important when you seek employment with real estate marketing and broking firms. It is because, these firms expect their potential employees to have good knowledge and skills in real estate. Remember, once on the job, the market is so competitive that you have to be productive from the first day on the job.

Another important aspect is that till now there is no educational requirement to work as real estate broker. However, looking at the developments at the industry and Government levels, very soon the government is to enact a real estate licensing act which will make real estate education mandatory to become a real estate broker.
According to industry sources, the draft real estate bill requires that one must have undergone certain hours of real estate education in order to become a licensed real estate broker. However, this draft is yet to become a law.

It is worth to mention here that IDS National Institute of Real Estate Management (NIREM), which has been established by the industry development society for real estate for the development of human resource for Indian real estate, has especially devised a course for people planning to start their career in real estate sales and brokerage. The course titled “Real Estate Sales & Agency Management” offers the knowledge and skills that you need to plan, start and manage your own real estate broking firm as well as to get a job with real estate firms. NIREM has also launched a course in real estate brokerage management which gives complete insight of the working of property broking firms.

Employment:
According to an unconfirmed report, there are approximately 30 lakh real estate brokers in India. But most of them work part time, combining their real estate activities with other careers. Simi9larly, majority of the property brokers and agents are self-employed. Though, Real estate is sold in all areas, but employment is concentrated in large urban centres and in rapidly developing areas and communities.
Most real estate firms are relatively small; indeed, some are one-person businesses. By contrast, some large real estate firms have several hundred agents operating out of numerous branch offices across the country. Recently, franchise mode of business in property broking has come into vogue. In this business model, brokers have franchise agreements with national or regional real estate organizations. Under this type of arrangement, the broker pays a fee in exchange for the privilege of using the more widely known name of the parent organization. Although franchised brokers often receive help in training sales staff and running their offices, they bear the ultimate responsibility for the success or failure of their firms.

Earnings:
Commissions on sales are the main source of earnings of real estate agents and brokers. The rate of commission varies according to whatever the agent and broker agree on, the type of property, and its value. The percentage paid on the sale of agriculture and commercial properties or unimproved land is typically higher than the percentage paid for selling a home.

Commissions may be divided among several agents and brokers. The broker or agent who obtains a listing usually shares the commission with the broker or agent who sells the property and with the firms that employ each of them. Income usually increases as an agent gains experience, but individual motivation, economic conditions, and the type and location of the property also can affect income. Sales workers who are active in community organizations and in local real estate associations can broaden their contacts and increase their income. A beginner's earnings often are irregular because a few weeks or even months may go by without a sale. The beginner, therefore, should have enough money to live for about 6 months or until commissions increase.

Getting Started in Real Estate
Entry into the real estate sales and brokerage profession depends on education, training and interests. During the last few years, it has been observed that most people (even if their objective is to start independent broking firm) start their career as property sales trainees in brokerage firms. However, there are people who directly start their own firm. But most of such people have prior background (either self or family background) in real estate.

Nature of the Work:
One of the most complex and significant financial events in peoples' lives is the purchase or sale of a home or investment property. Because of the complexity and importance of this transaction, people typically seek the help of real estate brokers and sales agents when buying or selling real estate.

Real estate brokers and sales agents have a thorough knowledge of the real estate market in their communities. They know which neighborhoods will best fit clients' needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing for the purchase of property.

When selling property, brokers and agents arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions. In a final meeting, the new owners take possession of the property. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers. They may help to arrange financing from a lender for the prospective buyer, which may make the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for finalizing, or closing, sales, but typically this function is done by lenders or lawyers.

Agents and brokers spend a significant amount of time looking for properties to buy or sell. They obtain listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, to determine a competitive market price for the property. Following the sale of the property, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus, agents who sell a property that they themselves have listed can increase their commission.

Before showing residential properties to potential buyers, agents meet with them to get an idea of the type of home the buyers would like, and how much the buyers can afford to spend. They may also ask buyers to sign a loyalty contract, which states that the agent will be the only one to show houses to the buyer. An agent or broker then generates lists of properties for sale, their location and description, and available sources of financing. In some cases, agents and brokers use computers to give buyers a virtual tour of properties that interest them.

Agents may meet numerous times with prospective buyers to discuss and visit available properties. Agents identify and emphasize the most pertinent selling details. To a young family looking for a house, for example, they may emphasize the convenient floor plan, the area's low crime rate, and the proximity to schools and shopping. To a potential investor, they may point out the tax advantages of owning a rental property and finding a renter. If negotiation over price becomes necessary, agents must follow their client's instructions thoroughly and may present counteroffers to reach the final sales price.

Once the buyer and seller have signed a contract, the real estate broker or agent must ensure that all terms of the contract are met before the closing date. If the seller agrees to any repairs, the broker or agent ensures they are made. Increasingly, brokers and agents must deal with environmental issues as well, such as advising buyers about lead paint on the walls. In addition, the agent must make sure that any legally mandated or agreed-upon inspections, such as termite and radon inspections, take place. Loan officers, attorneys, and other people handle many details, but the agent must ensure that they are carried out.

Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling, buying, or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell, buy, or lease industrial properties must know about the region's transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client's particular requirements.

Work environment. Real estate agents and brokers often work more than a standard 40-hour week, often working evenings and weekends for the convenience of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule.

Advances in telecommunications and the ability to retrieve data about properties over the Internet allow many real estate brokers and sales agents to work out of their homes instead of real estate offices. Even with this convenience, workers spend much of their time away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the real estate market. Nature of work of different types of real estate brokers is given below:

Careers in Residential Brokerage
Helping people buy and sell homes is one of the most important and basic services a real estate agent performs. Agents are experts in the process of buying and selling property, renting, financing etc. The real estate agent’s expertise facilitates the transaction, saving clients time, trouble and money. Real estate professionals need to have a thorough knowledge of such areas as real estate law, local economics, types of financing, mortgages etc.

Careers in Commercial Brokerage
Commercial brokers specialize in income-producing properties, such as apartment and office buildings, retail stores and warehouses, shopping centers and industrial parks. To understand and explain why the properties are good investments, commercial brokers need to be aware of the growth possibilities of the area where the property is located, current income tax regulations and purchasing arrangements that give the buyer a greater return on investment. Commercial brokers may also have to arrange financing.

Careers in Industrial and Office Brokerage
Industrial and office brokers specialize in the developing, selling or leasing property used for industry or manufacturing. Brokers need to understand different types of industries and determine such variables as transportation, proximity to raw materials, water and power, labor availability and local building, zoning and tax laws.

Careers in Farm and Land Brokerage
Land brokers deal in agriculture land and acquisition of rural land by clients for residential, commercial and industrial expansion. Success as a land broker depends on how accurately the income potential of the property can be established. Brokers need a good working knowledge of various factors which determines a farm’s capacity to produce, including agricultural knowledge and information such as land use conversion, market centers and transportation facilities.

Human Resource Crisis and Real Education in India

Real estate as a business sector in India was highly localized till late 1990s. It involved funds mainly of the promoters or borrowed from local sources and properties used to be sold mostly to local buyers. Moreover, these properties used to be sold mostly through direct marketing and partly thorough advertisement in local newspapers. Naturally, manpower requirement as well as skill level of the human resource involved was very low.

However, since the beginning of the millennium, the scenario changed dramatically owing to dynamic economic growth. Developers started launching projects after projects, which used to be supported by innovative financial tools offered by private equity & venture capital funds in addition to traditional financial institutions. Governments equally supported the growth with their growth oriented policies. Housing Finance Institutions started offering loans to prospective home buyers liberally. On the other hand, developers and property agents and advisors started formulating innovative marketing, sales and customer service strategies. They suddenly moved from direct and local level marketing to national and international level marketing. World Wide Web became one of the most common medium of promotion.

The above developments resulted in massive requirements of trained, competent and specialist human resources for the real estate sector. Unfortunately, since the time real estate business started growing, neither the real estate sector nor the Government ever thought of any long term strategy to develop manpower for the real estate sector, except occasional airing of concern. The result is the acute manpower crisis in the Indian real estate sector.

It is worth to mention here that real estate is a little different from all the other economic sectors. Because, in order to run real estate business smoothly one needs to have good understating of different aspects of real estate including planning, development, construction, finance, marketing etc., which is not the case with any other sector. This is the reason why professionals from other sectors take time to become productive in real estate sector. Therefore, a proper system of real estate education is almost mandatory for a growth oriented real estate sector.
It is, though, important to note here that there have been few initiatives to offer real estate education in India, most noticeable NICMAR and NIREM. NICMAR, through its centres at New Delhi, Pune, Hyderabad etc., offers a one and a half year program in real estate. NIREM, on the other hand, offers one year PG Diploma and six months Diploma in various specializations of real estate such as real estate management, marketing, sales & brokerage, finance, investment, appraisal etc. NIREM offers these courses as correspondence course.

To conclude, I must say that the above initiatives towards real estate education are insufficient compared to the human resource needs of the Indian real estate sector. Unless there is an integrated planning towards introduction of the system of real estate education in India, this sector will continue to face manpower crisis.

The EMI Conundrum

Wed, May 19 09:24 AM
Rajeev Sharma couldn't believe the bank statement. He decided to talk to old buddy Atul Balaram Kaslekar, or 'Abacus', who somehow seemed to know these things.

"Oye, Abacus. I can't figure this out. I've been paying my 30 lakh home loan for four years and the latest statement tells me I still owe them 28.6 lakhs. I'm paying them Rs 32,500 a month! How, Abacus, how?"

Abacus paused. He keyed the figures into a spreadsheet.

"Sharma, start from the beginning. Jan 2006, you signed the deal. The bank paid in installments for 18 months while your house was built. For this time, the bank asked you only for a 'pre-EMI' which was just the interest - a low 7.5% in those great times. In 18 months you had paid 1.97 lakhs as interest."

"Holy Moly!" said Sharma. "That much! Though it seemed nice to not pay the full 25,000 EMI for a while. But let's leave that alone."

"Ok. Here's how the monthly payment system, of Equated Monthly Installments, or EMIs, works. You got a 30 lakh loan for 20 years at 7.5%. For the first month - October 2007, your outstanding principal is 30 lakhs. You pay Rs 18,750 as interest alone. Anything above that brings your principal down. The next month you pay interest on the new lower principal, and the sum above that goes again to cut down the principal. And so on, till 20 years are done. The calculation - a formula that calculates the fixed payment so that the outstanding is zero after 20 years - gives us a figure of Rs 24,167 per month. And you paid a little more because they charged 10% service tax on the interest."

"I see."

"In the early years, the interest component of the EMI is large. Over time as you repay principal it becomes smaller and smaller, and the principal part becomes bigger and bigger. At the end of year 1, about 2.4 lakhs of the 3 lakhs you paid was just interest and taxes. You still owed the bank 29.4 lakhs," said Abacus. "At that point, they increased the interest rate on your loan to 8.5%."

"Wow, just 60,000 off my principal? That's rough. Yes, they told me that even though rates went up, nothing will change, I continue to make the same monthly payment."

"Well, If they recalculated the EMI on the new interest rate, they would have to bump your payments up to nearly Rs 28,000 a month. They decided instead to let you keep the same monthly payment, and the tenure of the loan scaled up to 23 years instead."

"Oh, ok. It sounded far away at the time, I suppose," said Sharma, wondering why he hadn't talked to Abacus then. He could have afforded the 28K in 2008, but nobody gave him the option.

"But Sharma, higher interest, same payment? Very little was left each month to pay back principal. Six months later they were going to increase the interest to 9.5%. Your outstanding was still 29.12 lakhs. If they stretched your loan tenure again, you would take 31 years to pay off the loan. That's past your retirement age. So they reworked the loan to pay 30K a month over 20 years instead."

Sharma digested all the information. He had paid Rs 25,000 a month for 18 months, and he'd paid back only 90,000 of the loan. He growled.

"That was really shocking. They were offering new customers loans at 8.5%, but I had to pay 9.5%. If I moved to a different bank, I would pay 2% as pre-closure charges, and with other charges, and I would be poorer by 75,000 rupees for a measly 1% cut in my rate."

"Tough," said Abacus. "Anyhow, later the bank bumped up interest to 11%, and payments went up to 32.5K a month. At the end of April 2010, as a result of all of this, you have Rs 28.6 lakhs outstanding, and 19.5 years to go. Of nearly 11 lakhs paid over the last four years, only 1.4 lakhs have been used to pay out principal; the rest has gone to various pockets that aren't yours."

Sharma was incensed. How should you deal with things like this?

"First, in the pre-EMI period, you could afford to have paid the full 25,000 per month. If the rest of the deal went exactly as it did, you would currently owe only 25.9 lakhs."

Abacus continued, "Second, you told me last year you had three lakhs in a long term fixed deposit? Well, that FD was at a measly 8%, while you paid 11% on your housing loan. That money could have part paid your home loan and save you 2 lakhs in interest over the next four years. The bank effectively lent you your own money at the 3% extra interest."

"Stop, Abacus, and meet my ego. He's slightly deflated today."

"Don't let it get to you. That other bank loan you ditched because it cost you 75,000 for a measly 1% lower interest? You would have made that money back in four years, and in the remaining term of the loan, paid substantially lower interest. The savings seem miserly, but over 20 years, 1% is a huge amount."

"Hmm. This seems like it costs a lot, but shouldn't I count the tax benefits?"

"What tax benefits? Your principal, up to 1 lakh a year, is tax-free under section 80C; but then your daughter's school fees and the provident fund paid from salary qualify under the same 1 lakh limit, so you don't get anything extra on your home loan. The interest paid on your home loan is tax free upto 1.5 lakhs a year - you pay substantially more than that - but you either pay the bank or the government, and the government takes only 30%, so what tax did you really save?"

"Well, compared to renting..."

"The house you stay in rents at Rs 12,000 a month, less than the interest per month for a long time. And you get a tax benefit for renting too."

Sharma said, "Understood. Ok, the past is past. I can feel bad, but it is a sunk cost. What you're saying is - as you save money, make part-payments up your home loan. And shift to a different bank if the cost and benefits work out. But what else should I look for?"

"Take a low fixed rate loan if available," said Abacus. "Watch out for 'pseudo fixed' rates - some banks will tell you they change the fixed rates also every few years. Get a loan without a pre-payment penalty - most public sector banks don't charge that.

Don't buy insurance from the bank. Banks may demand it to cover in case of an untimely death, but they offer insurance that's way too expensive; other market options are better.

"Any defaults on other payments or credit cards will affect future ability to refinance loans at lower rates. Pay off the most expensive loans first.

"Finally, don't be afraid to challenge the bank. You can complain, even online, to the banking ombudsman, and the process works."

Sharma was impressed. "Thanks Abacus! I wish I'd come to you earlier."

"Sharma, how do you think I know? I just refinanced my loan. One month ago, I was in the same position. Now, to fix our respective egos, let's go get that drink you promised."

Deepak Shenoy trades the Indian markets and writes at Capital Mind. He's also working on an upcoming stock market site. You can reach him at deepakshenoy@gmail.com or @deepakshenoy.

Google Tools for Real Estate Professionals

Countless home buyers use Google to browse for real estate information each month. Google offers a full suite of tools for real estate professionals that let you reach prospects in your region at all stages of their home search – while they're looking for properties, checking out locations, and selecting an agent or broker. It's how you reach more sellers, attract more buyers, and sell more homes. Here's why it pays to use Google to connect to home buyers and sellers: Google can help generate real estate referrals and leads. Google has more real estate searches than other search engines combined, and more unique visitors than all real estate specific web sites. Google is the most-used search engine for researching and purchasing real estate information and services. The Google Network reaches over 80% of worldwide Internet users. Google can help you: Drive leads AdWords Google Places Maps Connect and engage with consumers Google profile YouTube Save time & money Google Sketchup Google Apps Earth

Here's why it pays to use Google to connect to home buyers and sellers: Google can help generate real estate referrals and leads. Google has more real estate searches than other search engines combined, and more unique visitors than all real estate specific web sites.1 Google is the most-used search engine for researching and purchasing real estate information and services.2 The Google Network reaches over 80% of worldwide Internet users. What Google tools should real estate professionals consider? Google AdWords provides effective, efficient local lead generation. Google AdWords provide the most effective and efficient lead generation for real estate professionals. Google AdWords is the leader in cost-per-click keyword advertising because we offer a measurable, pay-for-performance solution that is 100% accountable. You determine your costs based on your own objectives. You pay only when a prospect clicks on your ad to visit your website. You get real time return on investment (ROI) with conversion tracking data. And you can modify or halt your campaign at any time. Google can target users by location, allowing you to reach home buyers and sellers specifically within your service area(s). Make your listings more easily searchable on Google and Google Maps Google offers a free service that lets you make your listings easier for home-buyers and real estate agents to find when they look for properties on Google.com. Over 56% of all Internet searches on "real estate" and related terms are conducted on Google and our partner sites, and the majority of those searchers are actively looking for listings or referrals to brokers and agents. You can make sure that people can find your listings by submitting them to Google. By providing your real estate listings to Google, you will broaden your distribution and receive free traffic and leads through natural search results on Google properties. Real estate search results will be displayed on Google Maps, allowing users to immediately zero in on the neighborhoods most attractive to them. By adding your listing information to Google, you can ensure that the right potential buyers will be able to find your properties when they're most actively searching for a home. Create a high performance mapping experience on your own site with the Google Maps API You can also place interactive maps on your own website using the Google Maps API. Display your listings on detailed maps and satellite imagery and give your users a visual, intuitive way to find the property that is right for them. Also, use the Google Maps API to show the location of your office and provide directions to your door. The Google Maps API allows you to display your information with minimal effort. Fly from space to your listings using Google Earth  Give your agents and clients the power of 3D satellite imagery with Google Earth Pro. Exceeding 200 million downloads, Google Earth has redefined the way people interact with real estate and property information. Publish your listings in Google Earth's KML data format to expose them to a new, sophisticated audience. Also, give your company the ability to research and present property information overlaid with school districts, parks, roads and business listings. List your business where customers are searching via Google Places Over one-third of people looking for real estate information on Google are searching for agents or brokers.4 You want your name and address to be displayed when they search. Google Places gives real estate professionals an easy way to submit business listings. Submit multiple locations with a data file and conveniently manage and control listings. Put yourself in front of your customers when they're trying to find you. Market and sell homes in 3D with Google SketchUp Google SketchUp Pro is a deceptively simple, amazingly powerful tool for creating, presenting, and modifying 3D models. Model your properties in Google SketchUp and give your clients a 3D view. Enhance your website listing by using the animation capability of Google SketchUp Pro. Allow customers to freely explore the home, community and its surroundings in 3D. You can also use Google SketchUp Pro to print to high-resolution devices, place your models in Google Earth, and post them to the 3D Warehouse. Power your business with Gmail and Google Apps  Communicating with colleagues, clients and other agents is essential to every real estate professional. Google offers a package of simple and powerful tools that you can use to communicate and collaborate more effectively, for less. Google Apps includes fully customized email addresses with plenty of storage, instant messaging, sharable calendars, tools for sharing and collaborating on documents and spreadsheets, and even collaborative wikis. What's more, you can access these services and all of your information wherever you are -- at your own desk, on other internet-connected computers, and even while you're on the road with your mobile device. Best of all, there's no special hardware or software required, so you can be up and running with Google Apps with minimal hassles. Create a Google profile to make it easier for prospects to find you When you've created a business based on your name, you want to be easily discoverable. Creating a Google profile makes it easier for prospects and partners to find you because Google profile results appear at the bottom of U.S. name-query search pages. Your profile can include photos, information about your real estate business, and ways for people to contact you. Turn on the 'Send a message' feature, and anyone with a Google Account can send you a message through your profile, without having your email address revealed to them. Create a YouTube channel to showcase your listings in a dynamic format Allow your listings to sell themselves and give home buyers the ability to pre-screen potential homes before they contact you by creating a YouTube channel. YouTube actually reaches the specific audiences you are looking to reach: real estate buyers and sellers. Did you know that YouTube viewers are 90% more likely to obtain information about real estate online than the average American?(1) Tap into this audience on YouTube and actively engage with potential home buyers and sellers in this media rich environment. Source: (1) Source: Mediamark Research & Intelligence Fall 2007, Survey of the American Consumer, Base: A 25-54. YouTube user defined as "visited YouTube in last 30 days."

1 - comScore, November 2006 and March 2007 2 - 2007 U.S. Real Estate Study, conducted by Media-Screen

Online Marketing of Real Estate: Tips for Succeess Part-III

Get more bang for your buck

A host of techniques to optimize your ads and improve your ROI.

In this tips section you'll learn how to:

• Track beyond the click
• Bring in the right traffic
• Show 'em what they're searching for
• Learn how visitors interact with your website

Track beyond the click

Why is conversion tracking so important for your business? Conversion tracking helps you understand what users do once they click on your ad. AdWords isn't just about the clicks. After all, you spend money on AdWords to get users to do something specific, like view pages for certain properties or contact an agent. We call these desired actions conversions. Conversion tracking is a free tool that helps you track conversions, so you'll be able to tell which of your campaigns, ads, and keywords bring the most business. Based on these results, you'll also be able to make more informed decisions to maximize return on your AdWords investment.

Bring in the right traffic

To curb unqualified clicks and improve your return on investment, use negative keywords. Your ad won't appear when a user's search query contains one of your negative keywords. Using negative keywords can help lower your advertising costs and ensure more relevant clicks for your business. You can apply them at either the campaign or ad group level.

For example, if you are a real estate agent who lists only condos for sale, your negative keywords might include

home homes apartment apartments

townhouse for rent rent sublease

Similarly, if you aggregate real estate listings of apartments for rent, avoid potential customers who are looking for a specific agent or broker with negative keywords -broker and -agent.

Show 'em what they're searching for

Studies show that visitors decide whether to leave a website within seconds, so it's important that your landing page delivers on your ad's promise. Send your visitors right to the source: the page featuring the information, product, or service listed in the ad. If the keyword they search on is San Francisco real estate, send potential customers to a more general landing page that features the various real estate listings in San Francisco. If they type 2br apartment San Francisco, send them to a page where they can view two bedroom apartments in San Francisco.

Learn how visitors interact with your site

Your website is crucial to driving business, so chances are the following questions have kept you up at night:

Where are my visitors from, and how did they reach my site? What do people do while on my site? Where do they spend the most time? How can I generate more conversions from my landing page? Which of my AdWords keywords and ad texts are most effective?

Don't just guess. Find answers with Google Analytics, a powerful tool that integrates with AdWords and tells you everything you want to know about how visitors find and interact with your site. With a variety of useful data delivered in a number of formats, Analytics helps you focus your marketing resources, improve site navigation, and increase ROI. You can easily visualize and track the performance of all of your online advertising initiatives, including search campaigns, emails, and banner ads.


(Click on the image for a full-sized version)

You can even use the Analytics benchmarking service to compare your metrics to other websites in your industry. You can use this data to gain broader context for your site and identify areas for improvement. Available categories include:

• Property Management
• Home Inspections & Appraisal
• Rental Listings & Referrals
• Home Financing
• Real Estate Agencies

Remember that online advertising can also drive offline sales. Many real estate companies conduct much of their business on the phone. If that's the case for you, set up a unique phone number that visitors see when they click on your AdWords ads. You'll know exactly how many of your calls are coming in through Google and be able to make better-informed marketing decisions.

Online Marketing of Real Estate: Tips for Succeess Part-II

Target the right audience

Tips to help you zero in on your potential customers.

In this tips section you'll learn how to:

• Performance: Improve your clickthrough rate
• Keywords: Bold your best
• Ad appeal: Write effective ads
• Test phase: Take your ads for a spin
• Reach the browsers and buyers
• Target your audience
• Analyze the results

Performance: Improve your clickthrough rate
Why is clickthrough rate (CTR) important? Your clickthrough rate is the number of clicks your ad receives divided by the number of times your ad is shown (impressions). CTR helps to determine your keyword's Quality Score, which in turn factors into the minimum bid assigned to each of your keywords. If your CTR is strong, you may place higher on the page than competitors bidding just as much or even more per click.

Care for your CTR by taking a step back and thinking like a consumer searching for your real estate services. Imagine what type of ad would draw your attention. Taking the time to spruce up your ads and experiment with different approaches could make you stand out and help increase visits to your site.

Keywords: Bold your best
For each ad group, include the keyword with the highest number of clicks and impressions in your ad title or text. Users will be more likely to click on your ad if it contains the word or phrase they just typed into the search box. Remember that any keywords you include in any part of your ad text are automatically highlighted in bold type when a user enters them as part of their search query, drawing even more attention to your ad.

Seattle Condo
Free Home Listings for Seattle
Search by Bed, Bath & Price Range
www.AdWordsExample.com

Ad appeal: Write effective ads
Some ads are more effective than others, and often it can come down to style. Think about your own online experiences. Have you ever clicked on a sponsored link? If so, what drew you to that particular ad? Perhaps you recognized a brand name that convinced you of the particular seller's quality. Or maybe a well-crafted ad gave you enough confidence to click the mouse and explore a new site. Try the following to boost your ad's appeal:

• Capitalize the first letter of each word.
• Avoid excessive punctuation and incoherent abbreviations.
• Intercapitalize the Display URL (AdWordsExample.com rather than adwordsexample.com).
• Highlight free offers such as loan calculators or listings.
• Include a specific call-to-action like "Call Today For Seasonal Offers."
• Send visitors directly to the page featuring the product or service you describe in your ad.

Compose a razor sharp call-to-action message in your ad text that highlights the action you wish the reader to take. For example, a great measurable call-to-action could be "Visit Our Website for This Special Offer." Phrases that highlight special promotions or offers can be especially helpful in capturing user attention. Avoid call-to-action phrases such as "click here" that could apply to any ad, regardless of content.

Real Estate Listings

Search Listings In Your Area
View Available Homes Today!

www.AdWordsExample.com

Test phase: Take your ads for a spin
It can sometimes be hard to predict what types of messages will appeal to your target audience. The solution? Test multiple creatives within each ad group. For example, try testing out several different titles or calls-to-action. AdWords will rotate your ads, analyze their CTRs, and automatically show the highest-performing ads the most often.

Reach the browsers and buyers
A great way to expand your reach while still promoting your services to a targeted audience is with Google's content network, an extensive network of high-quality news pages, industry-specific websites, and blogs. It's a cost-effective way to show your ads on a wide variety of sites that consumers visit each day. By showing your ads on both search and content pages, you'll reach potential customers at all points of the buying cycle, from creating awareness of your services to closing the cycle with a conversion. And with the range of available ad formats' text, image, Flash, and video ' you can appeal to potential customers in a unique and eye-catching way.

It's a good idea to create a separate, content network-only campaign for the ads you want to show on the content network. This way, you can allocate your budget with more precision and test out new ideas without affecting your search campaigns. AdWords looks at the overall theme of your ad group to determine if your ad relates to a particular site, so be sure that each of your content network ad groups focuses on a specific topic and audience.

Target your audience
With a placement-targeted campaign, you can handpick your audience by selecting specific places in Google's content network to display your ads. Try showing your ads in places that will be seen by your target audience. Think about websites that your potential customers are likely to visit, such as the Real Estate sections of NYTimes.com, WashingtonPost.com, or local online news sites. Then, use the Placement Tool in your account to find available placements on similar websites and add these to your placement-targeted campaign.



Analyze the results
Use Placement Performance reports to learn where your contextually targeted ads are showing on Google's content network, and get site-by-site performance data, such as clicks, impressions, cost, and conversions, for all your ads running on the content network. Using the Report Center in your AdWords account, run a Placement Performance report to learn which individual sites generate the most conversions. You can then target these top-performing sites in a placement-targeted campaign. Source: Google

Online Marketing of Real Estate: Tips for Succeess Part-I

Start off on the right foot

Make the most of Google's powerful targeting features and draw up the blueprints for successful ad campaigns.

In this tips section you'll learn how to: Locate your customers Organize your account Choose your keywords wisely Locate your customers Whether you're a broker or aggregate real estate listings, you can adjust your targeting options to reach potential customers in the areas you serve. With Google AdWords, you can target: The entire world Specific cities, states, regions, territories, or countries A specific mileage radius around your address People using Google in the language(s) of your choice For example, local real estate agents may want to target their advertising campaigns within a 50-mile radius of actual home listings. National listing aggregators may want to expand their targeting to the entire country. If your business is international, consider targeting applicable countries, territories and languages.Learn how to edit your campaign's location targeting. Organize your account Think of your website's menu or sitemap as a blueprint for your AdWords account. If your account mirrors your website, you'll have an easier time making changes, locating specific keywords, monitoring your success, ensuring that your entire inventory is covered, and allocating your budget effectively. For example, let's say you're a local real estate agent with property listings in various cities and your site's menu looks like this:: San Jose, CA San Francisco, CA Condos Townhomes Townhomes Single-Unit Family Homes Use this menu to create a campaign for each product category and an ad group for each subcategory. Your account will be well-organized, easy to navigate, and perfectly tailored to your inventory: Choose your keywords wisely With all AdWords campaigns, the general rule of thumb is to group keywords based on the same product, service, or location into the same ad group. By tailoring your ads to the keywords that trigger them, you can increase the likelihood that users will see their search query in your ad title or text. San Jose Townhomes Browse Free Listings In San Jose Experienced Agents. Start Today! www.AdWordsExample.com Let's take a look at how we might further optimize the townhome ad group. First, consider breaking this ad group into several ad groups with highly specific themes. For example, instead of having one general ad group for townhomes, you can create separate ad groups based on the number of bedrooms. This allows you to write more targeted ad text, which makes your ads more relevant and gives you more control over your advertising budget. 2 BR San Jose Townhomes Search Free Listings In San Jose Pics & Guided Tours. Visit Today! www.AdWordsExample.com   3 BR San Jose Townhomes Search Free Listings In San Jose Pics & Guided Tours. Visit Today! www.AdWordsExample.com   4 BR San Jose Townhomes Search Free Listings In San Jose Pics & Guided Tours. Visit Today! www.AdWordsExample.com By structuring your account to this level of detail, you'll be able to pause all ads for these listings with a click of the mouse. You'll also have the opportunity to compare performance across ad groups and gain more insight into consumer behavior. You can use Google Analytics for a more detailed analysis of your customer base and how they are browsing your listings. Source: Google

Six degrees of separation: Find out how the Sales 2.0 leader can help

The biggest challenge that I often come across is “how do I find the right people to speak to at a company, who can help?” I’ve tried everything possible viz. going through LinkedIn, Jigsaw, scouring multiple local data providers, company websites, etc. The one common thing across all these is the immensity of data that I’m faced with. Once I have the right data, I then need to organize it together and start looking for some sort of connection to these people. It used to take me anything between 1-2 days to gather my data set, and then start calling people.

InsideView is one source where I can get everything I need at one place. Its smart search abilities allow me to narrow down my companies based on specific criteria, track companies, and the best part is it tells me the people I’m connected to at my target accounts.

We’ve all seen the overflow of data across multiple social and professional networks. It’s not difficult anymore to find people, but it’s still a mammoth task to find out a good connection to those people. InsideView’s Smart Connections help you uncover relationships that you didn’t know existed. It’s a simple three-step process:

1. Put in your list of existing clients (reference customers)
2. Put in your previous employments
3. Search for and open any company record in InsideView
4. Voila!

Your connections are right there on the first page. Want to go down deep and find out more detailed level of connections? Just click through the people that it shows you’re connected to. Want even more? you’ve got it. InsideView partners with some of the most popular social and professional networks to bring together everything you need. You can look up people you’re connected to through your LinkedIn and Facebook profiles, all while staying within your InsideView or your CRM pages. The best part of it all is that none of your personal data gets displayed to anyone else, yet allows you to optimize your resources, while respecting everyone’s privacy.

Everyone wants something more, something’s always missing in everything. I can’t deny that there may be a situation when despite everything, you still can’t find that one guy. Just because you can’t, doesn’t mean your BOD, or your colleagues can’t either. InsideView will not only help you uncover direct relationships, but also the ones that your other team members or your senior leadership can generate for you. InsideView maximizes its immense database and smart technology to connect the dots between your colleagues, senior management, and shows you the people you can use as a reference point.

Gone are the days of granddaddy methods of selling. InsideView has ushered in a whole new era of Sales Intelligence, Sales 2.0. InsideView has long been doing breakthrough work by integrating cutting edge technology, artificial intelligence, user entered content, and managed to bring it all together in a logical and actionable manner. Sign in to your InsideView account today, and start connecting.

Check out this related Post too: http://blog.insideview.com/2010/04/27/connecting-the-dots-how-sales-2-0-can-help-you-connect-with-prospects/