It is pretty evident that we are marching into a World where we increasingly rely on technology. This of course occurs in many fashions. From the way in which we carry out our daily tasks to the methods we implement in the workplace, all are made easier with the evolution of technology. According to our past blog covering the 2012 National Association of Realtors Profile on Buyers and Sellers, it became apparent that in todays real estate climate, 90% of buyers use the Internet for their searches. This percentage is only growing year-after-year.
Where do many begin this search? Well before locating a real estate brokerage or even a specific destination for which an individual is looking to purchase, most choose the route of the search engine. Google and the National Association of Realtors have recently announced even more regarding the housing search trends of the modern buyer.
When using mobile devices, new home shoppers searched while on the go, but where were they most of the time?
- 77% search homes from a mobile device at home
- 31% at work
- 28% waiting in line
- 27% at a restaurant
- 26% at other peoples homes
Looking closely at Google, one of their largest jumps in terms of traffic over the past four years has been on the topic of real estate. It comes to be known that a outstanding increase of 253% represents the change in housing related searches on their website. When housing data was meshed together from the NAR and Google, it showed that 89% of all prospective buyers used their mobile devices during the entire buying process. Furthermore, 68% use a mobile application that they have downloaded on their devices that are real estate related, such as the Sothebys International Realty mobile app.
YouTube is the #1 destination buyers flock to when searching for real estate videos or slide shows of late. In fact, 86% look to sources such as YouTube to locate some variation of a video presentation regarding the home in question or even the neighborhood or community itself. In addition, 30% view videos of client testimonials, while 70% are able to view actual video tours of active listings.
Why do home buyers today even need a home? The answers are the following:
- 11% desire a larger home
- 9% are relocating due a job
- 4% move to obtain a smaller home
- The rest came from a whole variety of results
The casual nature of the Internet does, however, cause individuals to browse more rather than actively narrow down a search. As it turns out, while 25% of online real estate shoppers determine which property they would potentially like to purchase in the first day of their search, 40% of people simply browse for up to 120 days before making a serious decision. 78% of these people also view up to three or more real estate company websites that they found on a search engine before taking an action on which firm they will contact and use.
Whether a real estate professional or in any other industry, the choice is clear and will become even more transparent as time goes on. Bringing in more of a technological/web-based approach to your business is the key to future success. Buyers and potential clients are furthering their knowledge on how to utilize technology and companies are taking notice by implementing marketing techniques to bring their product or service to the public in a far more simplistic and efficient manner.
More Information: AGBeat