Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

October 5th - 2005

Text messaging spells out new marketing tool

D.U. txt? If you are an avid text message fan, you know that means, “Do you text?” in short code.

D.U. txt? If you are an avid text message fan, you know that means, “Do you text?” in short code. Text messaging has become an extremely popular way to communicate and people are continuously finding new ways to use this technology in both their personal and professional lives. REALTORS are no exception and many have started using text messaging as a new and innovative marketing tool.

Just how popular is texting? The Canadian Wireless Telecommunications Association (CWTA) says Canadians sent more than 700 million person-to-person text messages in 2004, doubling the previous year's volume of 350 million. Canadians now send over 115 million text messages per month - that's more than 3.7 million text messages each day. What’s more, the number of people using text messaging continues to grow month over month.

This popularity makes text messaging an ideal way for REALTORS to provide instant information about their listings to potential clients and Realtext is one Canadian company that offers this service.

How it works
REALTORS purchase a “rider” or “Infoflash” for their lawn signs. The rider instructs interested consumers to use their cell phones to send a text message to the number on the sign for instant property information. Once the text message is sent with the listing code for the property, the potential homebuyers receive a message with the listing details. A sample message would be:
Price : $249,900. Near Escarpment. Hardwood floors. Eat-in kitchen overlooking covered porch. 6 car driveway. 2004 taxes: 2,307.00.

REALTORS submit their listing information to Realtext online through a web interface and pay a fee according to the number of listings on which they want to put Infoflash signs. For example, Realtext quotes a pay-as-you-go rate of $15.00 per month, per listing. However, they also offer a one-year commitment rate of $15.00 per month for up to a maximum of 15 listings. The service is available 24 hours a day, seven days a week.

Innovative tool
Tony Giniotis, a Broker with Sutton Group Realty Systems Inc. in Toronto, has been using the Realtext service for a couple of months. “So far I’ve only used it for one listing, but I found I was getting better qualified people through this service and I had many agents call me to find out what it was,” says Giniotis.

Giniotis’ vendors like the fact that he is obviously on the leading edge of technology in his business. “I think it builds customer confidence and it’s an inexpensive way for me to add value during a listing presentation.”

Tracking tool
Being able to track the number of “hits” each property gets is another benefit Giniotis appreciates. He plans to use the information to show his vendors the activity and it can help if the property is not priced correctly. He says while the paper info sheets were fine, there was no way of knowing who was taking them or if they were interested in the property.

Consumers will also appreciate features that allow them to compare the various listings they’ve requested information on, receive information about open houses and map out the neighbourhoods they are looking at. When a REALTOR sets up an appointment with a potential buyer, the service sends a reminder text message to both parties a few hours before the meeting.

Although for the most part he thinks it’s a great idea, there are a few areas where Giniotis feels Realtext could improve its service. “I’ve passed along my concerns to the company about the size and shape of the sign riders as well as using the MLS number as an identifier,” he says. “It’s difficult, unless you are a skilled text message person, to switch back and forth from letters to numbers.”

Giniotis sees text messaging as one more tool to help him stand apart from the competition. However, as with anything new, he feels it might take some time to catch on. “The majority of people might not be used to text messaging yet, but most people have a cell phone,” he says. He’s right, according to the Statistics Canada Survey of Household Spending, 54 per cent of Canadian households had at least one cell phone in 2003 and that number is growing.

Most wireless phones sold today in Canada have the text messaging feature, but you usually need to activate the capability. To be sure, check with your service provider. For more information about using text messaging in your real estate business visit www.realtext.ca. To learn more about text messaging and how it works, visit www.txt.ca.

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Senior Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246

Ontario Real Estate Association
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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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