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Copyright (C) 1998 Intel Corporation, 2200 Mission College Blvd., Santa Clara, CA 95052-8119, USA. All rights reserved. No part of the article can be reproduced without the permission of Intel Corporation
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The Transformation of the Residential Real Estate Industry* *Copyright (C) 1998 Intel Corporation.All rights reserved. No part of the article can be reproduced without the permission of Intel Corporation, etc.
CASE STUDIES:
John L. Scott Real Estate
Scott's instant Internet processes offer several advantages. Buyers receive instant information from the Web, and sellers get instant marketing- houses can be listed on the Internet within one day. E-mail enables instant communication between agents and customers. And the Internet speeds many transactions associated with every sale. Computer technology will soon reduce the process of getting a home loan to five days or less. Says Scott, "If it isn't instant, it's not fast enough."
The impact of all these instant processes? "Customers are coming in more motivated and qualified." Scott says, "They've seen the homes and they're aware of the community from information on the Web site. This shortens the buying process."
To help buyers get up to speed, every house John L. Scott advertises in print contains a code, which buyers use to call up photos on the Web. "That's huge," Scott says, "because it brings our ads alive." The site emphasizes this unique feature, as well as 26,000 listings and general information about the area.
Scott's Web presence also caters to the needs of agents. Every agent has his or her own home page with e-mail, photos, and a system that keeps the agent's frame in front of users as they navigate around the site. "The Internet is bringing all our marketing programs together," Scott says, and they market the site everywhere - banners at the bottom of print ads, business cards, and all their signage. Aided by the Internet, each agent is doing more business, which, according to Scott, means fewer agents in the industry down the line.
To ensure his agents are among the survivors, Scott is investing in technology to the tune of $500,000 a year. The current program includes at the minimum a 200 MHz Intel Pentium processor-based system on every desk, equipped with high-speed digital access. The company also has a legacy mainframe, and four Windows NT networks running a variety of Pentium and Pentium II processor-based servers. Internet access includes a fast T1 connection from corporate headquarters and several separate arrangements with ISPs at the branch offices. All agents have e-mail, and soon will have pager notification of e-mail messages.
For the personal touch, Scott uses voice on the Website and agents' individual home pages Soon on-line video will allow customers to take virtual tours of the listed homes. To help everyone take advantage of all this technology, the company has hired a technology trainer for agents, support staff, and managers.
Despite the high technology expenditures, Scott reports good return on investment, especially since he's aligned all marketing activities with the Internet. "It's a real win-win," says Scott.
"Our agents like it, but they would not have access to these programs without being aligned with a large regional company."
Contributing Author
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