Today’s house hunting consumers are becoming increasingly digital. Although most realtors know technology is a vital part of our world, they may not know all the ins and outs of how the digital world affects their own strategy to reach clients and sell homes.
The National Association of Realtors® and Google® joined together to look into shifting housing market. The two created a joint study on consumer and market trends in the real estate industry in order to help real estate professionals understand how to use the new digital house hunting strategy in way that may work for them to sell Coral Gables luxury homes, Oviedo real estate, or other properties.
Challenges in the Digital Marketplace
Home buyers are connected and informed today. They no longer are seeking out real estate professionals to be their one and only resource when entering into the real estate marketplace. More than half of these digital consumers will turn to the Internet as the first step in moving toward their home purchase.
According to research, 9 out of 10 home buyers rely on the Internet as their primary means of information when looking to purchase a property to buy, whether it’s Oviedo homes for sale or Coral Gables luxury homes. Google reports that real estate related searches on its browser has increased 22% year-over-year in 2012. Of these, 1/5 of the real estate related searches were driven by mobile devices, which showed an increase of 120% year-over-year climb from 2011 to 2012.
For real estate professionals and brokers, the complexities of capturing a home buyer’s attention is becoming a real challenge.
Google’s Zero Moment of Truth
According to the research conducted by Google, there is a “Zero Moment of Truth” for today’s consumers. This basically means that home buyers are no longer looking for realtors or brokers to help them understand what to buy and how much to offer. This new home buyer is empowered by the information that is available online and is doing homework ahead of time.
This is important to realtors because they’re strategy and approach needs to shift.
Understanding Today’s Home Buyer
Key facts in this research found:
- Less than 10% of home buyers did not use the Internet during the home buying process
- In the past few years, the number of real estate related searches on Google.com has grown 253%.
- 31% of home shoppers who take action on a real estate site are aged 25-34.
- 78% of new home shoppers visit 3 + sites prior to taking action on a real estate site
Importance of Real Estate Sales Professionals
The digital marketplace may lead consumers astray or provide them with the wrong idea about home prices, requirements, and the buying process, which is why real estate sales professionals are invaluable.
Realtors need to know their market and keep on top of the latest real estate trends in order to stay competitive and successful. Realtors, like those with Berkshire Hathhaway HomeServices Florida Realty, bridge the gap between Internet research and viewing a home, as well as ultimately buying one.
If you’re interested in buying a Florida home, talk to one of our sales professionals today!
