Car Estate
Posted in Uncategorized on 11/09/2010 04:23 am by admin
Car Estate
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US $4.66
The Importance Of Internet For Real Estate Professionals
The Internet has become a fixture of our day to day lives. Gone
are the times when a computer and a broadband connection were
luxury items. More and more people are relying on the web to
learn information about the real estate process, as well as the
market conditions, and to look at listings. Keeping this in
mind, it is important for any real estate professional to
understand why the internet is so vital to today's business
climate, and why choosing not to get involved would diminish
their profits and reduce their competitive edge.
National
Association of Realtors (NAR) and California
Association of REALTORS surveys clearly show a considerable
increase in internet usage as opposed to traditional
advertising/media. People browse for listings as well as for
realtors. Let's take a closer look at the results and their
significance for real estate brokers and agents.
Nowadays, people don't accumulate information as much as they
used to. Instead they rely on the internet to help them. What is
easier than punching in keywords in a search engine only to get
what they were looking for faster and more accurately than
before. It's only natural to take advantage of the web when
looking for a new home.
According to the CAR's "2005 Internet Versus Traditional Buyer
Study", internet homebuyers increased from 56 percent in 2004 to
62 percent in 2005. Clearly, the web has become an integral
element in house hunting for more than a half of homebuyers.
What would be the reasons for this?
It saves time according to 63 percent of homebuyers.
People search for listings in the privacies of their own home,
getting results from practically anywhere. It's obvious they are
using the internet to preview homes. That way, they can make an
initial selection from a larger pool than from traditional
means.
According to the 2004 CAR report, internet buyers use an average
of 4.8 weeks to look for information on homes and neighborhoods,
before contacting a real estate professional, as opposed to 1.6
weeks for traditional buyers. However, once they finished their
preliminary information gathering, they spent significantly less
time with their agent and preview far fewer homes, spending 1.9
weeks, compared to 7.1 weeks for their traditional counter-parts.
Internet searches are especially important to people looking to
move in different parts of the country. According to the same
reports, internet buyers searched for a house within a median
distance of 100 miles from their residence, as opposed to the
traditional buyer - only 12 miles.
Considering all these facts, it's no wonder that traditional
buyers' numbers have decreased from 72 percent in 2000 to 44
percent in 2004.
Internet offers a wealth of information at a touch of a
button, anytime, anywhere.
The Internet has grown so big, one can find detailed information
about anything.
Brokers, agents and third-parties are able to distribute and
display a wealth of information about listings, mortgages,
loans, neighborhoods. Because these resources are available 24
hours a day, buyers are able to do searches in their own time,
using the same tool: the computer. This saves enormous amounts
of time.
People will normally want to get as much information as possible
from as many sources as possible. Therefore, realtors who will
develop their websites including specialized, insider
information and detailed listings complete with pictures, will
be more likely to capture internet homebuyers.
According to the 2003 NAR survey, buyers want two features in an
real estate website: detailed property information (77 percent
found it useful) and photos of the house (78 percent found them
useful). Virtual tours were appreciated by 47 percent. The
impact of these features was so great, that it spurred buyers to
action. 72 percent drove to see the house they found online, and
46 percent visited the house.
As stated before, internet shopping does not stop only to
listings. According to the same report, 18 percent found their
agent online as well. It's a good bet that detailed property
presentations had a great impact in their decision.
NAR President Cathy Whatley, owner of Buck & Buck Inc. in
Jacksonville, Fla., said warnings that online information would
reduce reliance on real estate professionals have proved to be
false. "Almost every home placed on the market today can be
found on the Internet, and more buyers than ever are using the
Web to search for a home," she said.
With that in mind, let's take a look at the internet homebuyer
profile.
- Buyers who like to be in control
The internet has proven to be empowering to consumers. The web
has bred a news species, which is in control of the inquiry
process, all the while maintaining anonymity. This anonymity is
very important, as people generally don't like to be rushed in
making a decision, especially if it is an important, as well as
costly, one.
- According to CAR's "2005 Internet Versus Traditional Buyer
Study", internet buyers are more likely first-time buyers,
younger, wealthier and better educated.
They are also more likely to be married.
- According to 2003 American Home Guide's survey, the
majority of online shoppers are women, more than 60 percent, and
73 percent of them were younger than 45.
- Buyers like to be as informed as possible.
Knowledge is not restricted to listings and prices. It extends
to real estate transaction details, mortgage and loan
information. It is another plus for internet-savvy realtors who
can rush and fill in these blanks.
It is important for real estate professionals to speak the
language of the buyers. Keep in mind, that the younger
generation has been raised while using a computer, therefore
it's natural to them to rely on the internet when searching for
information.
"While the Web is great in providing information, the survey
tells us that consumers rely on real estate professionals to
provide context to their research, and to provide services that
guide them through the negotiation and transaction process,"
says NAR President Martin Edwards, Jr.
In 2001, the CAR report highlighted the fact that 78 percent of
Internet homebuyers found their agents on the Internet, not as a
result of traditional methods such as farming, referrals,
advertising, or sign calls. This percentage has surely increased.
Furthermore, having a website and conducting communications
through email has become a mark of professionalism for any
business venture in today's world. Having a website can only
help.
"The Internet has complemented rather than diminished Realtors'
role in the homebuying transaction," said C.A.R. President Ann
Pettijohn. "While Internet buyers considered online information
to be valuable, they ultimately turned to Realtors both for
their interpretation of that information, and for their
expertise and judgment throughout the homebuying process. The
expertise and professional advice provided by Realtors creates
value over and above the market and property information itself,
even when the buyers obtain that information on their own."
Resources:
CAR Report Shows Increased Use Of Internet By
Homebuyers by Blanche Evans
New Report Shows Gulf Between Internet and
Traditional Homebuyers by Blanche Evans
CAR's Internet Versus Traditional Buyer Study
Shows New Trends by Blanche Evans
CAR Report Shows Increased Use Of Internet By
Homebuyers by Blanche Evans
Women Browse For New Housing More Than Men
by Broderick Perkins
New NAR Survey Shows Growing Web Use in a
Dynamic Housing Market
About the Author
NetRealinTouch.net
is a complete email
marketing system for real estate professionals, offering quality
prospecting and farming newsletters at an affordable price. articles@netreal.net
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