Here is my presentation from the NAR Convention in San Diego, "Understanding the Internet Buyer". If you ever want me or someone from Zillow to present to agents in your office (in person or via webinar), please let me know.

 

Here's the video. It seems to crash the Firefox browser when I embed the video, so you'll have to watch it over on ustream.

 

Understanding the Internet Buyer

 

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47 Comments on Understanding the Internet Buyer (NAR Convention Speech)

NOV
17
7 Featured Posts Outside Blog

Hi Spencer, Thanks for sharing your presentation. Interesting information.

I'm curious what your comments were in regards to slide 13 - satisfaction rates people had with their agents - traditional versus internet buyers and the decline over the last several years.....

Thanks - Angie

5:26pm • #1
Localism Sponsor

Thank you so much for your presentation.

8:19pm • #2
Localism Sponsor

Thank you so much for your presentation.

8:19pm • #3
613,610 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router

Thanks Spencer, I liked the charts. I sent to my team.

10:09pm • #4
NOV
18

Spencer, great video.  It was great meeting you and Mary at the Zillow party. 

8:24am • #5
Localism Sponsor Outside Blog

Thanks, I look forward to learning more.  In the end it's always a people business.  How we connect may change but it still comes down to relationships.

8:27am • #6
173,918 Points 3 Featured Posts Outside Blog

Thank you Spencer, I am forwarding this to some other agents in my office!

8:35am • #7

Spencer - Great presentation!  Let me know if you are planning a ski trip, golf outing, or river rafting excursion to beautiful Bend, Oregon and I'd love to buy you lunch.  We have many technically savvy agents and brokerages here in Central Oregon who will likely take you up on your training offer. I'll forward it along.  -Dave

8:43am • #8

Thanks Spencer...I too will be forwarding along to my team.  You are much appreciated!

8:48am • #9
113,954 Points 7 Featured Posts

It's interesting that your research did not include Weichert.com.  The Weichert Lead Network is unique in the industry for providing the "warm transfer"of internet based leads on a national level.  Weichert.com also has higher traffic rates than some of the other sources that you cited.

8:52am • #10
3 Featured Posts

Interesting data.  I expected the numbers to trend that way, but some are more dramatic than I thought.  I'm sending you the bill the next time I get a "driving while iPhone-Zillowing" ticket.

I know it's a dream, but the MLS should really copy your GPS capability on an iPhone app.

10:28am • #12

Great information..Thank you for sharing

10:46am • #13

Good Stuff!  Thanks for posting it on AR for us.

10:58am • #14

Thank you Spencer! Another great reminder for timely response to internet clients.

Ann Nguyen
11:14am • #15
Outside Blog

Spencer, Thanks for sharing this online so I could see it again.  It looks like you updated it since I saw it at Seattle REbar camp.

11:46am • #16

Spencer, thanks for sharing the presentation and of course the stats.

12:17pm • #17
156,857 Points Localism Sponsor

Some great information there. The internet is a very big part of our business today.

1:09pm • #18

Great post, your info verifies how we need to respond to the market.   I'm going to share it with my office.

1:33pm • #20
Hit Router

Thanks for the video.  I will book mark this for later reference.  Need to know about these internet buyers.

1:35pm • #21
Localism Sponsor Outside Blog

Great presentation, I am a numbers guru and love statistics.  Again great job, I would like to do one of these for my region.  Where should I start to get this info?

2:02pm • #22
121,426 Points 3 Featured Posts Localism Sponsor Outside Blog

I went all the way through your screens - was most of this the California market only or is this nationwide?

2:08pm • #23

Terrific info. Thanks so much for sharing it. It confirms many things we have suspected!

Jan Stevens
2:26pm • #24
Outside Blog

thank you for the presentation ,,interesting info

2:29pm • #25
233,047 Points 1 Featured Post Localism Sponsor Outside Blog

Hi Spencer,  Excellent presentation.  We agents cannot lose sight of our eventual customer and must offer a personal relationship !

2:39pm • #26
734,220 Points 145 Featured Posts Localism Sponsor Outside Blog

Stewart - this was an excellent discussion. Wish I could have been there live but with the Internet...so what. I thinky your points about rapid response adnbeing where the buyers are were the most telling things we MUST pay attention to.

Thanks

Jeff

2:47pm • #27
Outside Blog

Thanks for the informational post, lots of good insight here.

4:50pm • #28
1 Featured Post

Wow, you nailed it. I'm switching most of my advertising dollars to the internet. My young buyers want info at the speed of light and can actually make a decision. Thank you for the post.

5:06pm • #29
Outside Blog

Spencer,  Thanks for broadcasting your talk to Active Rain.  It's great for those of us who could not attend the convention.  I am at Re/Max.  I thought Re/Max was the top Internet Real Estate company as listed on Hitwise. Zillow has come a long way.  I used to think it was useless and the  Zestimates were so far off.  Now, I always check on Zillow so I know what my clients might be looking at and list my homes on there too!

 

6:57pm • #31
497,798 Points 13 Featured Posts Localism Sponsor Outside Blog

Spencer great information, I especially appreciated the visuals.  With this information it is time to make the shift to meet the needs of today's consumere.

7:36pm • #32
207,475 Points Outside Blog

Great presentation - and many agents still advertise in newspapers and magazines. Makes no sense in today's market....

7:42pm • #33
23 Featured Posts

Thanks everyone for all the kind words and the great comments. If you want me to email the powerpoint deck to you, please let me know (though be warned -- it's a very big file!).

@Angie, you asked about my comments on satisfaction rates... The point I made in the speech about satisfaction rates was that internet buyers have a VERY high expectation level, especially in regards to timeliness of responses from their agent, and that this expectation will only increase as mobile devices proliferate. As a result, agents who serve internet buyers and handle internet leads need to be extremely responsive in order to satisfy their demands.

@Trisha, you asked about how to find local traffic statistics in your market. That's tricky. Zillow releases the data for OUR SITE each month either on this blog or on Sara Bonert's blog. Here's last month's. You can probably ask your broker and they might have data for their site, so that's one point of comparison. But the other media real estate sites don't generally release their local traffic data like we do. Nationwide, the top sites are Realtor.com, Zillow and Yahoo Real Estate. Trulia's traffic fluctuates so you'd have to check with them, but I usually see them reporting around 5 million monthly uniques (we have around 8.5 million).

@Emily, the data from CAR is for California buyers who tend to be more tech-savvy than the typical buyer nationwide. But it's a good sign of what direction nationwide buyers will be going in the next few years.

@Trudy, Remax.com is also a top brokerage site. The different traffic measurement sites have very different data, but there's no question that remax.com is among the largest real estate sites.

 

Thanks everyone!

7:55pm • #34
481,919 Points 10 Featured Posts Outside Blog

Thanks for sharing the info.  The internet buyer is the buyers I like.  Especially the ones that pick up the phone.

8:04pm • #35
171,620 Points 9 Featured Posts Localism Sponsor Outside Blog
Thanks for sharing this important information. I just watched your slide show. I was shocked at the conversion rate by calling within 5 minutes. That's a wake up call for sure. I'm going to share this with my office "peeps". Thanks again :)
8:14pm • #36
136,958 Points Outside Blog

Spencer, this is a cool idea! I wish they had done this for the REBAR Webinar yesterday. Is it safe to view on Internet Explorer?

8:27pm • #37
Outside Blog

People on that there world wide web thingy likes to gets a response right away, because they be an impatient lot.

 

Seriously though, very good info.

9:11pm • #38

Would it be possible for Zillow to put in HUGE RED letters on the site to advise people that Zillow is for ENTERTAINMENT PURPOSES ONLY and doesn't come close to reflecting real home values. It would do all of us agent a huge favor and then we wouldn't have to constantly explain that to people. People come to my listings and make ridiculous offers on homes because of what they read in Zillow.

PLEASE, PLEASE, PLEASE, put out a stronger warning. It's not funny anymore.

Thank you,

9:25pm • #40
1 Featured Post

Thanks for sharing your presentation.  Lots of interesting and informative foils!

10:13pm • #41

I am sorry, Spencer. I just can't get over the fact that my national organization (the one I pay dues to) would pay you to be a speaker at the convention. Not that you are not a nice guy, but come on. They are going to launch their own version of zestimates and they are paying all these geeks to sell my customers back to me, and they need to hire you to speak about internet customers?

Zillow? walking away scraching my head.

10:18pm • #42
NOV
19
403,565 Points 3 Featured Posts Localism Sponsor Outside Blog

This looks like an interesting and important topic.  I am off to go view the video.

1:45am • #43
Outside Blog

Spencer,

that video was great to go over. Very good stuff!

3:57am • #44

I enjoyed the info thanks for sharing.  I think we all need to be reminded that internet buyer have very different expectations. 

9:09am • #45
346,896 Points 8 Featured Posts Outside Blog Hit Router

Very good-- I sent it to my agents to watch! Thanks...

2:13pm • #46
NOV
20

I enjoyed it live at NAR09 and it's nice to have to review or pass along.  Your talk inspired us to stop by the booth and we signed up for a package.

This is my 31 year in the business and I can attest to many of the slides in your presentation representing the internet buyers and sellers!

Here's to success wit Zillow!

5:30pm • #49
DEC
10
2 Featured Posts Outside Blog

Thanks, This was very interesting to get Zillow's viewpoint on things. I wonder NAR's point of what they are trying to accomplish.

6:25pm • #50
2 Featured Posts Outside Blog

Thanks, This was very interesting to get Zillow's viewpoint on things. I wonder NAR's point of what they are trying to accomplish.

6:25pm • #51

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Spencer Rascoff

Seattle, WA

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