Is your agent still using old tactics in the modern economy?
One sign of an out-of-touch marketing strategy is the traditional flyer box. The digitization of listing data has rapidly moved the home search from the car to the couch. A recent study by Google revealed that during the research process, 64% of home shoppers rely solely on the Internet, and 90% use it at some point during their home search. Furthermore, nearly 56% of people begin that search on their phone. The National Association of REALTORS (NAR) reports 76% of buyers find their home via Internet or Agent MLS database.
Why do Buyers prefer digital experiences?
Before ever stepping foot in a physical store, dealership, office, etc., consumers are increasingly researching purchases from their smartphone, tablets and laptops, often for months at a time – particularly with purchases that involve a high degree of financial complexity and planning. Real estate is no exception. In fact, real estate works much better in a digital environment for a few reasons…
1. Buyers can read all the details about a home, not just a few bullet points.
2. Buyers can see all the photos of a home (in large scale and full color), not just a few small images scaled to fit a flyer.
3. Buyers can compare many homes at once, then select the ones they perceive to be a good value.
4. Buyers can run the numbers on a payment using online mortgage calculators. These tools are often built into the property view page such as here on pathpost.com
5. Buyers save time by not having to flip through newspaper ads, flyers, or magazines and no longer have to drive around to see houses. The web gives them 24/7 access, right from their couch.
The Stats on How Buyers Find Homes
Flyers didn’t make the list of ways Buyers find homes in the modern world of real estate. They have all been replaced with digital devices. A modern real estate agent can leverage the technology to track online viewings to gauge buyer interest. Where the out-of-touch agent prints flyers to be raided by nosy neighbors and then tossed aside, only to end up in the landfill.