|
|
|
The Importance Of Internet For Real Estate Professionals
he Internet has become a
fixture of our day to day Nowadays, people don't accumulate
lives. Gone are the times information as much as they used
when a computer and a broadband to. Instead they rely on the
connection were luxury items. internet to help them. What is
More and more people are relying easier than punching in keywords
on the web to learn information in a search engine only to get
about the real estate process, as what they were looking for faster
well as the market conditions, and more accurately than before.
and to look at listings. Keeping It's only natural to take
this in mind, it is important for advantage of the web when looking
any real estate professional to for a new home.
understand why the internet is so
vital to today's business According to the CAR's "2005
climate, and why choosing not to Internet Versus Traditional Buyer
get involved would diminish their Study", internet homebuyers
profits and reduce their increased from 56 percent in 2004
competitive edge. to 62 percent in 2005. Clearly,
the web has become an integral
National Association of Realtors element in house hunting for more
(NAR) and California Association than a half of homebuyers.
of REALTORS surveys clearly show
a considerable increase in What would be the reasons for
internet usage as opposed to this?
traditional advertising/media.
People browse for listings as It saves time according to 63
well as for realtors. Let's take percent of homebuyers.
a closer look at the results and
their significance for real People search for listings in the
estate brokers and agents. privacies of their own home,
getting results from practically distance of 100 miles from their
anywhere. It's obvious they are residence, as opposed to the
using the internet to preview traditional buyer - only 12
homes. That way, they can make an miles.
initial selection from a larger
pool than from traditional means. Considering all these facts, it's
no wonder that traditional
buyers' numbers have decreased
According to the 2004 CAR report, from 72 percent in 2000 to 44
internet buyers use an average of percent in 2004.
4.8 weeks to look for information
on homes and neighborhoods, Internet offers a wealth of
before contacting a real estate information at a touch of a
professional, as opposed to 1.6 button, anytime, anywhere.
weeks for traditional buyers.
However, once they finished their The Internet has grown so big,
preliminary information one can find detailed information
gathering, they spent about anything.
significantly less time with
their agent and preview far fewer Brokers, agents and third-parties
homes, spending 1.9 weeks, are able to distribute and
compared to 7.1 weeks for their display a wealth of information
traditional counter-parts. about listings, mortgages, loans,
neighborhoods. Because these
Internet searches are especially resources are available 24 hours
important to people looking to a day, buyers are able to do
move in different parts of the searches in their own time, using
country. According to the same the same tool: the computer. This
reports, internet buyers searched saves enormous amounts of time.
for a house within a median
People will normally want to get bet that detailed property
as much information as possible presentations had a great impact
from as many sources as possible. in their decision.
Therefore, realtors who will
develop their websites including NAR President Cathy Whatley,
specialized, insider information owner of Buck & Buck Inc. in
and detailed listings complete Jacksonville, Fla., said warnings
with pictures, will be more that online information would
likely to capture internet reduce reliance on real estate
homebuyers. professionals have proved to be
false. "Almost every home placed
According to the 2003 NAR survey, on the market today can be found
buyers want two features in an on the Internet, and more buyers
real estate website: detailed than ever are using the Web to
property information (77 percent search for a home," she said.
found it useful) and photos of
the house (78 percent found them With that in mind, let's take a
useful). Virtual tours were look at the internet homebuyer
appreciated by 47 percent. The profile.
impact of these features was so
great, that it spurred buyers to - Buyers who like to be in
action. 72 percent drove to see control
the house they found online, and
46 percent visited the house. The internet has proven to be
empowering to consumers. The web
As stated before, internet has bred a news species, which is
shopping does not stop only to in control of the inquiry
listings. According to the same process, all the while
report, 18 percent found their maintaining anonymity. This
agent online as well. It's a good anonymity is very important, as
people generally don't like to be for internet-savvy realtors who
rushed in making a decision, can rush and fill in these
especially if it is an important, blanks.
as well as costly, one.
It is important for real estate
- According to CAR's "2005 professionals to speak the
Internet Versus Traditional Buyer language of the buyers. Keep in
Study", internet buyers are more mind, that the younger generation
likely first-time buyers, has been raised while using a
younger, wealthier and better computer, therefore it's natural
educated. to them to rely on the internet
when searching for information.
They are also more likely to be
married. "While the Web is great in
providing information, the survey
- According to 2003 American tells us that consumers rely on
Home Guide's survey, the majority real estate professionals to
of online shoppers are women, provide context to their
more than 60 percent, and 73 research, and to provide services
percent of them were younger than that guide them through the
45. negotiation and transaction
process," says NAR President
- Buyers like to be as Martin Edwards, Jr.
informed as possible.
In 2001, the CAR report
Knowledge is not restricted to highlighted the fact that 78
listings and prices. It extends percent of Internet homebuyers
to real estate transaction found their agents on the
details, mortgage and loan Internet, not as a result of
information. It is another plus traditional methods such as
farming, referrals, advertising, value over and above the market
or sign calls. This percentage and property information itself,
has surely increased. even when the buyers obtain that
information on their own."
Furthermore, having a website and
conducting communications through Resources:
email has become a mark of
professionalism for any business CAR Report Shows Increased Use Of
venture in today's world. Having Internet By Homebuyers by Blanche
a website can only help. Evans
New Report Shows Gulf Between
"The Internet has complemented Internet and Traditional
rather than diminished Realtors' Homebuyers by Blanche Evans
role in the homebuying CAR's Internet Versus Traditional
transaction," said C.A.R. Buyer Study Shows New Trends by
President Ann Pettijohn. "While Blanche Evans
Internet buyers considered online CAR Report Shows Increased Use Of
information to be valuable, they Internet By Homebuyers by Blanche
ultimately turned to Realtors Evans
both for their interpretation of Women Browse For New Housing More
that information, and for their Than Men by Broderick Perkins
expertise and judgment throughout New NAR Survey Shows Growing Web
the homebuying process. The Use in a Dynamic Housing Market
expertise and professional advice
provided by Realtors creates
About the Author:
Amanda Smith is the content editor of the NetReal.net website. NetReal.net is a complex marketing platform that offers, among other things, the NetRealinTouch.net newsletter system http://www.netrealintouch.net. You are invited to try NetRealinTouch.net, by taking the 30-day FREE trial. articles@netreal.net
Source: www.isnare.com
|
|
