Realtors that are advertising online, have a website or have homepages on myspace, activerain or sites similar, will be at the forefront to make more sales than traditional Realtors. Times are changing and we need to change and adapt to the changing times as well.
The internet is definitely changing the ways buyers and sellers buy or sell real estate. The consumer is now much more educated than before and as time moves forward with change and technology, so will the same with consumers. According to a class that I took last week in regards to building loyalty in an eBusiness environment, the numbers were staggering. Here are some quick stats that I learned in class:
- About 75%-88% of internet home buyers used the internet to first look at properties.
- Once consumers start to research properties online, it takes them an average of 9.3 months to decide to buy.
- At least 25% of internet buyers use the first sales professional who responds to their online inquiry. Some studies show up to 70%.
- Internet buyers walk through an average of 5.8 homes compared to 16.2 non-internet buyers before putting in an offer.
- Internet users are mostly ages of 38 years or younger.
- After looking at a property online, 72% of the buyers drove by the property.
- 81% of internet consumers are more likely to use a realtor because the consumer is more infomed and value what realtors have to offer.
- In regards to online requests and inquiries, 58% of sales professionals don't respond.
As you can see, these numbers are astounding and it shows which direction technology is taking consumers. Just in today's local newspaper, The Honolulu Advertiser, there is an article in the business section about how the internet is a major part of real estate. It states that the information on the web that home buyers and sellers are looking at are changing the way they are buying and selling homes. If we want to succeed in this online world as realtors, we need to step up our online presence. I believe we are on the right track just being on AR.
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