The internet has become the most important tool in the real estate game. Today, 88% of home buyers begin their property search on the internet or spend some time online researching communities and available homes before contacting a real estate agent. But a new Properties Online infographic shows that a surprising 40% of today’s home buyers actually found the home they purchased on the internet. Comparatively, only 35% of buyers found their homes directly through their real estate agent.
The new analysis of statistics from the National Association of Realtors doesn’t mean that internet sites are replacing Realtors. In addition to internet research, 87% of buyers relied on the knowledge and expertise of real estate agents to search for a home. But while real estate professionals still play a vital role in helping buyers find and purchase homes, the growing role of the internet in property marketing places pressure on real estate agents and brokers to step up their online game and invest in the internet marketing products and services that can help them succeed. Online advertising is 20 times more likely to sell a home than newspaper advertising. Internet advertising accounted for 40% of home sales, compared to just 2% for newspaper ads.
Home sellers have also tuned into the importance of internet marketing. Most sellers now expect agents to offer individual property listing domains, and prefer agents who make listings available on their real estate websites. But our infographic also found that sellers are becoming more aware of specific internet marketing tools and giving agents who offer them preference when selecting an agent. For example, while only 14% of agents create listing videos; 74% of homeowners say they’re more likely to list with a Realtor who offers to include a video with the listing.
The bottom line? Internet technology gives real estate agents a critical competitive advantage. Visit our website to find out how Properties Online can improve your competitive advantage.