The Importance of Online Marketing

When searching the Multiple Listing Service (MLS), I'm often amazed to find listings with one or no photos. I wonder how the listing agents expect to effectively market the properties. There was a time when this was not a big issue but those times have passed.

We need to take a look at where we were to understand where we are now and why photos are so important.

There was a time when the MLS was simply a computerized tool to share listings with other REALTORs replacing the listing books of days past. As time went on, brokers started displaying the listings of other brokers on their web sites through the Internet Data Exchange (IDX) protocol. These IDX search portals allowed the public to access all active listings within a particular MLS. As Internet usage grew, so did the utilization of those search portals. In 1995, only two percent of consumers used the Internet during their home searches - in 2009, 88 percent start online.

Why is this important? In the early days, we placed our listings into the MLS to market them to other agents. Now, we market to the public. What? If 88 percent of buyers start their searches online, then the online marketing has to appeal to that 88 percent. Multiple photos are critical to the marketing of a property. According to statistics complied by the National Association of REALTORs(R), properties with multiple photos have a 200-plus percent click-through rate over those with one or no photos! Virtual and video tours are appropriate for larger or unique properties.

As consumers, you should review the online marketing completed by your agent. If you're unhappy with any aspect of it, give your agent a call. Most of us are more than willing to modify the listing and/or explain the reasoning behind the marketing avenue chosen.

 

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton.  While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure.  Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

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1 Comments on The Importance of Online Marketing

SEP
23
2010
1 Featured Post Outside Blog

Tom you are right that we need to really utilize the mls as the great marketing opportunity that it is and take full advantage of the features availalbe to market our listings to the world beyond the real estate community.  Thanks for posting.
1:05pm • #1

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