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Building a Toolbox for Success

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REBAC Report by Marc Gould

RISMEDIA, August 7, 2010—From using the latest gadgets and tools to communicating with buyers online, today’s successful agents are maximizing technology to build their business. And buyer’s agents are no exception. A recent REBAC member survey showed that more than half of buyer’s agents have a smart phone and are regularly using social media or networking sites to reach buyers—a real estate trend that will continue to grow.

REBAC’s 2010 Member Survey shows that agents understand the importance of balancing traditional and new technology, yet navigating the abundance of options can be overwhelming. Here are just a few of the ways buyer’s agents are using these tools in their day-to-day business:

Business Tools
From laptops to flip cameras and smart phones, today’s agents are becoming less reliant on an office setting and increasingly mobile in their day-to-day business. Plus, they are going mobile in their communication strategies as well. Nearly 100% of those surveyed regularly communicate with clients via e-mail and more than 68% through text messages throughout the real estate transaction.

Social Networking
Every agent knows that today’s buyers are communicating online. It makes sense, therefore, for agents to develop a social media strategy that allows them to reach buyers where they start their home search. Almost two-thirds of buyer’s agents report using Facebook monthly or more often to prospect to or communicate with buyer-clients.

Blogs
Whether they are contributing real estate content or staying up-to-date on the latest industry trends, buyer’s agents are utilizing blogs. Nearly half of those surveyed reported using blogs for their buyer business, citing ActiveRain and RISMedia most often.

Time Management
While agents focus most of their time working with clients, a large portion of time is being spent on business development through online technologies. Buyer’s agents spend 41% of their business development time on digital marketing, including e-mail marketing, website maintenance, social media and blogging.

Continuing Education
Agents are also turning to continuing education to differentiate themselves in today’s market. Some 81% of those surveyed earned the Accredited Buyer’s Representative (ABR®) designation to differentiate themselves from other real estate agents in their area.

As the real estate market continues to evolve, agents are adapting at an increasing rate. And with over 70% of agents reporting that their buyer business is steady or improving, choosing the right tools and marketing strategies are vital to reaching buyers quickly and improving your bottom line this year.

The REBAC member survey is conducted annually to gauge member satisfaction and create a profile of REBAC members. As a member benefit, REBAC shares the results of the survey each year with members in a “List Issue” in Today’s Buyer’s Rep newsletter. To learn more about earning your ABR® and the benefits associated with being a member of REBAC, please visit rebac.net.

Marc Gould is the executive director of The Real Estate Buyer’s Agent Council (REBAC). A wholly owned subsidiary of the National Association of REALTORS® (NAR), REBAC is the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer. With more than 40,000 active members, REBAC awards the Accredited Buyer’s Representative (ABR®) designation to REALTORS® who work directly with buyer-clients. To learn more, please visit REBAC.net.

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