By Todd W. Sigety, ISA CAPP
The National Association of Realtors recently released results from its 2009 technology survey. Many aspects of the survey don’t specifically transfer to professional personal property appraisers, but the one aspect that caught my eye was social networking. Brian Hiatt of Collector Pro software has posted on the Appraisers Post in the past on technology issues in general and on specific areas such as social networking. I would like to pass along some results from the Realtors survey on social networking. I do believe social networking can be useful and the Realtor survey results can also apply to professional personal property appraisers. (Click on the graphs fo
r an expanded view, and on the back button to return to the post.)
The Realtor survey shows that many realtors network through social network sites such as Facebook and LinkedIn. The survey states that 47% of the respondents are either extremely comfortable or comfortable with social networking, while 27% are somewhat comfortable, 10% uncomfortable or extremely uncomfortable. The report revealed only 16% did not use or experiment with social networking programs. That means nearly 84% of the survey respondents have tried social networking. Also very telling, in the 2008 Realtor Technology survey 67% responded they did not use social media. In one years time, usage of social networking sites went from 33% surveyed to 84% having used or tried social networking. That is an amazing increase in usage growth over a single year. It is no cliche, today technology does move quickly. (To Read the Rest of the article click the Read More Link below)
The survey revealed that most respondents use either Facebook 78% and/or LinkedIn accounts (58%). Obviously, many realtors are using more than one social network. Facebook users appear to be the most active, but I also wonder if much of the activity is personal instead of business related. As far as benefits are concerned, the Realtor survey results show that 8% feel it is very effective, 17%, effective and 38% somewhat effective. There is still a fair amount of doubt, with 26% saying they are not sure of the benefits.
So, the results are m
ixed on the benefits, but we have to keep in mind that social networking is only in its infancy when being used as a business tool. Networks need to be built and grow before major benefits can be seen. The question was also presented to Realtors who they were trying to contact or network with. The respondents stated 76% were consumers, 53% other Realtors, 32% Realtor organizations, 22% real estate vendors, and 7% friends and family. I am a LinkedIn user, and my network is made of primarily of other appraisers, so contacting consumers or consumers of appraisal services is probably going to be very limited, at least until social networking and client prospecting show further advances.
A very significant portion also uses the networks to connect with other realtors. I would assume referrals, seeking assistance, and general discussions on business related topics fall within this category. Even if you discount the large group of realtors attempting to connect with consumers, a very large percentage use the networks for contact with fellow professional realtors. I am sure they find it beneficial, otherwise social networking would not be growing. As many appraisers are solo-professionals, net
working with other fellow professionals is very much necessary to the successful appraisal practice.
Now perhaps the most significant area for survey results, how important is social networking in generating leads. 83% said it was important in generating referrals, 82% for repeat business, 53% for the internet.
The survey clearly shows Realtors are finding social networking useful, and like most new technology it takes time to grow, mature and to see evidence of benefits. There is a good LinkedIn appraisal group started just a few months ago by Brian Hiatt called Professional Personal Property Appraisers, click HERE to join. There are also ISA, AAA, ASA and other independent groups on LinkedIn. I have not looked on Facebook.
In summary, Realtors are finding that social networking is beneficial to their business. I would expect that many of the same factors can apply to professional personal property appraisers. Many appraisers are aware of the social networking sites, but are not sure how they will be beneficial or the amount of time necessary to build a successful and useful network. I think the Realtor report certainly reveals many benefits of the technology.
The key is to get involve
d, register, build a network, join groups, and perhaps more importantly participate, initiate discussions, make comments and promote your business and appraisal practice. That is what social networking is all about, networking and promoting who you are and what you do through the computer instead of a live mixer or networking event. Social networking sites are another tool that should be taken advantage of by professional personal property appraisers.
To view the full National Association of Realtors 2009 Technology Survey, click HERE.
The National Association of Realtors recently released results from its 2009 technology survey. Many aspects of the survey don’t specifically transfer to professional personal property appraisers, but the one aspect that caught my eye was social networking. Brian Hiatt of Collector Pro software has posted on the Appraisers Post in the past on technology issues in general and on specific areas such as social networking. I would like to pass along some results from the Realtors survey on social networking. I do believe social networking can be useful and the Realtor survey results can also apply to professional personal property appraisers. (Click on the graphs fo
r an expanded view, and on the back button to return to the post.)The Realtor survey shows that many realtors network through social network sites such as Facebook and LinkedIn. The survey states that 47% of the respondents are either extremely comfortable or comfortable with social networking, while 27% are somewhat comfortable, 10% uncomfortable or extremely uncomfortable. The report revealed only 16% did not use or experiment with social networking programs. That means nearly 84% of the survey respondents have tried social networking. Also very telling, in the 2008 Realtor Technology survey 67% responded they did not use social media. In one years time, usage of social networking sites went from 33% surveyed to 84% having used or tried social networking. That is an amazing increase in usage growth over a single year. It is no cliche, today technology does move quickly. (To Read the Rest of the article click the Read More Link below)
The survey revealed that most respondents use either Facebook 78% and/or LinkedIn accounts (58%). Obviously, many realtors are using more than one social network. Facebook users appear to be the most active, but I also wonder if much of the activity is personal instead of business related. As far as benefits are concerned, the Realtor survey results show that 8% feel it is very effective, 17%, effective and 38% somewhat effective. There is still a fair amount of doubt, with 26% saying they are not sure of the benefits.
So, the results are m
ixed on the benefits, but we have to keep in mind that social networking is only in its infancy when being used as a business tool. Networks need to be built and grow before major benefits can be seen. The question was also presented to Realtors who they were trying to contact or network with. The respondents stated 76% were consumers, 53% other Realtors, 32% Realtor organizations, 22% real estate vendors, and 7% friends and family. I am a LinkedIn user, and my network is made of primarily of other appraisers, so contacting consumers or consumers of appraisal services is probably going to be very limited, at least until social networking and client prospecting show further advances.A very significant portion also uses the networks to connect with other realtors. I would assume referrals, seeking assistance, and general discussions on business related topics fall within this category. Even if you discount the large group of realtors attempting to connect with consumers, a very large percentage use the networks for contact with fellow professional realtors. I am sure they find it beneficial, otherwise social networking would not be growing. As many appraisers are solo-professionals, net
working with other fellow professionals is very much necessary to the successful appraisal practice.Now perhaps the most significant area for survey results, how important is social networking in generating leads. 83% said it was important in generating referrals, 82% for repeat business, 53% for the internet.
The survey clearly shows Realtors are finding social networking useful, and like most new technology it takes time to grow, mature and to see evidence of benefits. There is a good LinkedIn appraisal group started just a few months ago by Brian Hiatt called Professional Personal Property Appraisers, click HERE to join. There are also ISA, AAA, ASA and other independent groups on LinkedIn. I have not looked on Facebook.
In summary, Realtors are finding that social networking is beneficial to their business. I would expect that many of the same factors can apply to professional personal property appraisers. Many appraisers are aware of the social networking sites, but are not sure how they will be beneficial or the amount of time necessary to build a successful and useful network. I think the Realtor report certainly reveals many benefits of the technology.
The key is to get involve
d, register, build a network, join groups, and perhaps more importantly participate, initiate discussions, make comments and promote your business and appraisal practice. That is what social networking is all about, networking and promoting who you are and what you do through the computer instead of a live mixer or networking event. Social networking sites are another tool that should be taken advantage of by professional personal property appraisers.To view the full National Association of Realtors 2009 Technology Survey, click HERE.
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