A new report by real estate consultancy and property analytics company Redfin outlines how to create your own commercial real estate site.
Redfin’s new book, Build Your Own Commercial Real Estate Site, features more than a dozen guides to creating a website for a variety of industries, including:• Commercial real estate• Commercial marketing• Construction and industrial• Commercial office construction• Commercial leasing• Commercial sales• Commercial property management• Commercial construction•Commercial marketing and sales managementThe site can also be used for advertising purposes.
Redfins site, built on the basis of data from real estate agents, found that a successful site could generate up to $1.3 million in revenue for the property agent in the first year, $2.5 million in the second, and $7.5 to $10.5 in the third year.
In a report to investors published on Thursday, Redfin said it has seen a 30 per cent increase in commercial realty sites in recent years, with commercial realtors now being more successful at making their websites and apps.
Realtors can make up to 40 per cent of a site’s potential revenue, and this can range from the simple to the complex, according to Redfin.
Realty agents are also often involved in the design and development of the website, and are expected to pay for the website’s design.
It can also depend on how the business is structured, and whether the site is designed to be an advertisement or a resource for the real estate market.
While the sites will often be set up by the realtor, they may also be run by someone in the realty industry, including a mortgage broker, a property manager or a marketing professional.
This type of business model has been growing at a faster rate than in the past, said Redfin’s chief executive, Chris Kavanagh.
Realtor sites can also provide listings and offers for sale, as well as help with marketing.
Redfing’s analysis found that real estate sites can make a significant amount of revenue for realtor agents, which is a significant boost to their bottom line.
In fact, agents who were paid more than $500,000 a year to build commercial real Estate Sites made more than twice as much as agents who did not.
“We have seen agents pay hundreds of thousands of dollars for a site that is a mere 20 square metres of real estate, and yet they are making a significant return,” Mr Kavanah said.
The study also found that the success of a commercial realtor site depends on whether it is structured to be a resource and not an advertisement, with a site for commercial realestate marketing being a high-value site.
Real estate agents are expected, in turn, to pay a fee to Redfins website to make sure the site delivers the right type of value for the agent.
This fee is calculated based on the market value of the site and the potential for advertising on the site.
Mr Kavanaugh said realtours who are successful at building commercial real estates sites need to be in the know about the industry and its rules.
He said it was important that the realtour has a clear and consistent business model and a clear idea of how to manage the site, and make sure that all the requirements are met.
“When you look at what a realtor agent is doing, it’s all about making money,” he said.
“They are paying money to a site, they are paying to get listings for that site, but they also pay a lot of money to have the realestate agent’s attention and to know what they are doing.”
It is all about keeping their hands off the business.