Archive for February, 2010

The Latest NAR Statistics …

home-search
The following statistics are provided by the National Association of Realtors (NAR):

  • 90% of consumers did online research before they bought their last home.
  • 36% of buyers found the home they ended up purchasing on the internet, while only 2% of buyers found their home in the newspaper.
  • 63% of Agents marketing budget still goes to offline advertising (newspaper, flyers, etc).
  • Consumers’ looked at an average of 12 homes over a period of 12 weeks before purchasing.

Are you staying in touch long enough to capture a relationship with an online lead?

  • 89% of consumers said that response time was very important when choosing their agent.
  • 56% of consumers expect a response from their agent within 30 minutes.

Online Consumers understand that the internet is an immediate medium. Are you succeeding with your online leads? Do you have a hole in your business model? What is your average response time?

  • 88% of Buyers said they would use their agent again or recommend their agent to others (66% said definitely, 22% said probably).
  • Only 10% of Buyers used an agent they had used previously.
  • 81% of Sellers said they would use their agent again or recommend their agent to others (59% said definitely, 22% said probably).
  • Only 24% of Sellers used an agent they had used previously.

The vast majority of consumers — 66% of buyers and 59% of sellers — say they would “definitely” use their real estate agent again or recommend that person to others. Yet only 10 percent of buyers and 24 percent of sellers say they used the same real estate professional that they worked with for their previous transaction. Why is there a disconnect? One reason, undoubtedly, is a lack of consistent communication.

Your day is busy and your time is important.  Make sure that you aren’t letting your clients fall through the cracks.  If you don’t have the time to maintain these high levels of contact, let a drip email system lend a helping hand.  Consumers need constant reminders of who you are, what you do and what does that mean for them.

Make sure you provide the right level of contact.

The Home Search Process is Moving Online

According to a new Profile of Home Buyers and Sellers, recently released by the National Association of REALTORS®, the Internet has become an essential and indispensable tool in the home search process.

  • More than one third of buyers began their search for a home by looking online for properties for sale.
  • 90% of home buyers used the Internet as one of the information sources in their home search process.
  • The Internet continues to be increasingly popular among all homebuyers, while traditional real estate marketing methods such as print media are declining.
  • In 2009, 36 percent of buyers reported that they found their home online, up from 32 percent in 2008.

How Buyers Search for Property
Information Sources used in Home Search
information-sources-used-blog

It’s important for real estate professionals to understand that the Internet is not replacing them. On the contrary – according to the NAR study, 89% of buyers who used the Internet, also used a real estate agent. And the vast majority of homebuyers still purchase their home through a real estate agent.

It’s not that the Internet is replacing agents, but agents who want to stay current and on top of their game need to harness the power of the Internet and use it as part of their real estate marketing campaigns.

Are Property Websites Affordable?

With all their rich features and professional looking interface, you would think that property websites would be expensive and only suitable for top-performing realtors. But property websites are actually very affordable, and can easily be employed as an online marketing tool by every real estate agent, across all their listings.

A professional-looking property website, filled with unlimited images, text, audio, video and more, costs just $60 for an entire year. There are no monthly fees, no hidden costs of any kind, and the website stays up – and serves as a great testimonial to the agent’s marketing abilities – for a full year. The top-level domain name makes it easy for buyers to find the site, and makes sellers extremely happy, and more likely to recommend their agent to future clients. Since, according to the National Association of REALTORS®, referrals are the top way for people to find a real estate agent, making sellers happy is of course a big priority.

Another major plus is that each Listing Domains single property website includes a custom sign rider for the property, so agents who use single property sites don’t have to order those separately. The combination of the sign rider and the property website works beautifully to market the home. The property’s URL is clearly depicted on the lawn sign rider located at the property itself. Homebuyers can drive by a property they like, then go directly to the URL listed on the rider to find a wealth of information about the home prior to scheduling a private tour. Yard signs remain an important real estate marketing method that complements online marketing. According to the National Association of REALTORS®, 82% percent of sellers in 2009 used a yard sign.

The ROI on single property websites is high not only because agents pay a one-time fee that includes a sign rider. Property websites also pay them dividends in the form of gaining them new clients, who see the sites they’ve created, whether through links on the agent’s main site or through friends and acquaintances, and want the same marketing for their own home. Existing property websites provide valuable long-term positioning for real estate professionals as tech-savvy marketers and demonstrate their marketing capabilities to potential clients.

As real estate professionals, we know how important it is that buyers find your website. Therefore we include a free Domain Rider® sign with each and every Listing Domains single property website order.

The Domain Rider® sign displays the street address domain name of your real estate listing right above, or under your real estate “For Sale” sign, directing potential buyers and open house visitors to visit your website for more info on the property.

This is real estate marketing and branding at its best: the property website promotes the listing, and the Domain Rider® sign on the listing promotes the website!

We offer several color choices and expedited shipping for a nominal fee. Our rider signs measures 24″ or 18″ wide by 6″ high and are made of high-quality, waterproof, 4mm corrugated plastic. The Domain Name is showcased in red for maximum visibility. Along with your Domain Rider® sign, you will receive two nylon ties to easily attach your rider to your “For Sale” sign.

Your custom Domain Rider® sign will be shipped quickly – the following business day. Don’t need a sign rider? Get a $10 shipping & handling rebate instantly!

But our personal recommendation is to definitely use a sign rider. It is a highly useful tool for promoting your single property website.