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International Real Estate Best Practices Case Studies


Use the Internet to Reach Out Globally


The world is really flat, you know. That may sound a bit strange, but the Internet has enabled service levels and communications we've never had before. Everything we are doing today on the Web is making the world smaller and flatter.

For those who are just starting out with a CIPS designation, my message would be first, that you have to understand how others do business-that's the value of the CIPS education. Second, use the Internet to reach out. Combine both, the CIPS knowledge and the Internet, to work fast, effectively, and cost-efficiently.

Use the Internet to Reach Out
Take the evergreen principles of real estate marketing and apply them to how you do business on the Web. For example, we used to send thousands of postcards. Today, take the knowledge of communication and how to market with postcards-that methodology-and combine it with the Web. Use the Internet to reach out and touch clients-in Tokyo, the Far East, the UAE, Switzerland, or anywhere. Recently, I had a listing on a $12 million hydro-electric dam in New England. There's a small pool of buyers for a property like that and how many buyers can I reach with the usual marketing methods? The point is, through the Internet I was able to reach out to a targeted list of potential buyers worldwide. There were thirty inquiries within the first three days and a Swiss buyer under contract in the fourth week.

Everything we are doing today on the Web is making the world smaller and flatter
I first got involved with technology in 1962 when I founded the Data Realty Corporation using early technology and a huge computer to match buyers and sellers. Today, we can reach out and touch a client in two minutes. Just imagine five years from now how we will do business?

The Web Changes Everything
Can you envision how technology and the Web will change the way we do business? I believe we can't even see five years down the line and predict how we will do business. Think about what we can do today with e-mail, live online chats, virtual tours, online conventions and expositions, matching buyers and sellers, matching properties with buyers. If we can do all of this today, imagine what we can do in five years? I believe we are walking through a door called "awesome."


John M. Peckham is executive director of REcyber.com, the Real Estate Cyberspace Society. His syndicated column, Selling in Cyberspace appears in the New England Real Estate Journal, the Florida Real Estate Journal, and many other publications. He is the author of A Master Guide to Income Property Brokerage. In more than forty-five years in real estate, he has sold more than $1 billion in commercial/investment properties. Jack Peckham, CCIM, CIPS bostonjack@earthlink.net
www.recyber.com
Jack Peckham, CCIM, CIPS Real Estate Cyberspace Society Boston, Massachusetts

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