In today's world of information technology the way people access information has changed drastically. The people who access that information have also become busier and their lives more complex. If you want to sell a home or a piece of real estate you must market it in a way that connects with potential buyers and makes that process as simple as possible for them.
First a statement that's very pertinent:
- 80% of buyers in 2006 used the internet at some point during their home search process.
Let's get more particular though. Where did people FIRST see the home they eventually bought?
- 36% found their home by their Realtors recommendation
- 24% found their home on the internet
- 15% found their home through a yard sign
- 8% found their home by a friend, neighbor or family members recommendation
- 8% found their home from a home builder
- 5% found their home by a print or newspaper ad
- 3% found their home through direct contact with the seller
- 1% found their home by the local real estate magazine
These statistics should give Realtors and home sellers food for thought.
For Realtors, where do you spend your advertising dollars? According to the above statistics, 80% of your funds should be spent on developing a quality website, 15% on quality signs, and only 5% on newspaper ads or realty magazines. In addition, large quantities of your time should be spent on developing a large network of relationships in your community.
For home sellers, you need to find a Realtor who can market your property widely online (not just their own or the company website, but other sites like Realtor.com, Google, Yahoo, Trulia, Point2MLS, etc...). In addition, you want them to have a quality curbside presentation, and a good network in the community. Don't worry about what advertising they may or may not do in print, but allow them to free up the advertising dollar for online exposure.
For both, take time to make sure you are utilizing the latest trends in information technology to get the home to the market in a way that people with busy and complicated lives will take notice. It' a paradigm shift for some, but these are the marketing techniques that work.