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There are several reason why marketing online has become extremely important to the competitive real estate agent.
* 71% of homebuyers use the Internet for research and to search for listings and services
* Internet homebuyers make better clients
* It saves time and is more cost effective than most traditional forms of marketing
The Internet is the first place more and more homebuyers are beginning their search for a home. According to a study done by the National Association of Realtors, 71% of homebuyers take their search online.
These numbers will only increase with the Internet reaching more and more households. Nearly 70,000 new people are getting Internet access every day. Studies also show that the average homebuyer is also getting younger, and increasingly grew up with the Internet.
According to a study commissioned by the California Association of Realtors, Internet homebuyers were reported to be wealthier and purchasing more expensive homes. Internet homebuyers bought a median priced home of $452,000 while traditional buyers purchased a median priced home of $310,000.
In the same study, homebuyers also reported that the Internet shortened their home search. The entire home purchasing process took half as long for homebuyers who used the Internet as those who did not. More importantly, Internet buyers spent half as much time with their real estate agents, visiting only half as many homes as traditional buyers before making their purchase. They were able to view listings online and narrow down their search to the few homes they were strongly interested in.
Homebuyers using the Internet were also more knowledgeable about the purchasing process, and expressed greater satisfaction with their real estate agents.
More expensive purchases, shorter search cycles, and happy clients who are better informed about the home-buying process -- could it get any better?
In fact it does! Homebuyers who search the Internet are actually more likely than traditional buyers to use a real estate agent to find their home and complete the purchase. 77% of Internet homebuyers use a real estate agent, compared to only 70% of those who do not take advantage of the Internet.
If you're not marketing online, you're losing a goldmine of prospective clients.
In addition to the huge audience of excellent prospective clients, the Internet offers both convenience and cost effectiveness that traditional media cannot. Web sites are more engaging and informative than even the best brochures. Emails make it easier and cheaper to keep in touch with existing clients. You do not need to have a four or five-figure marketing budget to create a professional online presence.
Start learning how to market your properties and your service online now!