Posts Tagged as tech

Real Estate Tech Trends

Real Estate Tech Trends

Every year, Properties Online compiles a report compiling highly relevant real estate statistical information from a variety of sources, including the National Association of Realtors, the California Association of Realtors, and 15,000 single property websites. The report provides a comprehensive look at real estate tech trends – invaluable information for today’s real estate professional.

The internet and agents – together they’re the magic mix

Ninety percent of home buyers use the internet to search for homes, with 52% using it as a first step. Eight-seven percent of home buyers used an agent to search, with 89% using an agent to actually purchase a home once they found one. This figure has risen from 69% since 2001.

Home buyers are relying heavily on online sources and their agents to provide information, with decreasing use of some sources, such as newspapers and open houses. Agents found purchased homes for 34% of respondents, while 42% found the home they ultimately purchased on the internet. For Sale By Owner, beware. Only 2% of respondents bought their house this way.

An internet presence is crucial to success in today’s real estate market. Sixty percent of buyers Googled their agent before hiring. And both buyers (70%) and sellers (75%) are looking primarily to the internet to find an agent.

Great expectations

For the typical home buyer, expectations are not being met. Seventy-seven percent of sellers expect a response from their agent within 30 minutes; however, only 24% of agents meet their expectations. A massive 45% of sellers expect an instant reply!

Buyers are no less demanding in their expectations. In fact, 88% of buyers expect a response from their agent within 1 hour, but only 30% of agents live up to this expectation. A similar 42% of buyers expect an instant response from their agent. Ninety-four percent of buyers say that agent response time is very important to their selection process. In other words, you’d better be available!

Technology gives agents an advantage by helping them to stay competitive (49%); respond to clients faster (49%); give an appearance of being up-to-date (22%); and save time (15%).

Here are some more tidbits from the report. To read the entire thing, click here.

84% of home buyers considered online photos to be very useful in helping to make a decision. 21% felt the same about video. 79% appreciated detailed property information.

  • Only 10% of buyers actually used an agent they’d used previously.
  • Agents who spend $1,000 or more to maintain their website generate on average 17% of their business from their website.
  • While 27% of agents still list their homes for sale in the newspaper, only 1% of buyers find their homes that way.
  • Mobile Traffic now accounts for 30% of the total traffic to real estate websites.

SOURCE: Real Estate Tech Trends 2013 / Properties Online Annual Report

tech tools for real estate

Cool Tech Tools for Real Estate Sales Agents

So you’ve got your business and property website(s), you’re on LinkedIn, Facebook, Twitter, Google+ and Pinterest. You use Craigslist for property listings and YouTube for branded videos. What else is out there? Here are some hot web apps & cool tech tools for real estate you might want to explore:

  1. Plaxo. Let this handy tool find duplicates in your Microsoft Outlook or Google Contacts. You can’t stop people from changing their contact info, but you can let Plaxo update their info for you automatically.
  2. Rainmaker. Google user? Sync contacts and friends across multiple sites, such as Facebook, LinkedIn and Twitter. This bi-directional syncing tool helps to enhance, automate, organize, streamline, connect, and more.
  3. Zopim. Just like in a real shop, Zopim lets you have live conversations with visitors on your website. Place Zopim’s customizable chat widget on your website, and start having genuine conversations with visitors within minutes.
  4. Walk Score. Walk Score helps users find a walkable place to live. Walk Score is a number between 0 and 100 that measures the walkability of any address. A new iPhone app boosts usability, big time. Add it to your property listings, where applicable, to give them an edge.
  5. RE Business Pages. Customize your Facebook business page, simply and efficiently. Add your IDX Property Search widget, install Pinterest and Twitter tabs, obtain a custom graphic and welcome tab for every agent, and more.
  6. Fetchnotes. Take notes anywhere and everywhere. And have them at your fingertips always. You’ll never again be scrambling for that bit of scratch paper when a prospective buyer asks you a question.