If you belong to the real estate industry, you know better than anyone that your industry is fiercely competitive. However, you also understand that you must invest money to make money. Therefore, you continue to purchase property listings in local newspapers and/or real estate magazines.
The truth is the efficacy of these listings is limited because every real estate agent and company in your town is also utilizing the same marketing channels. To stand out, you should take advantage of the untapped resources available online. By doing so, you are not only going a step beyond your competitors but also responding to new consumer trends.
Research has shown that real estate shoppers are heavily relying on online sources when researching new homes, apartments or neighborhoods.
In fact, data from a May 2008 Pew Internet & American Life Project report, "The Internet and Consumer Choice," states that 50% percent of their survey respondents search Web sites belonging to real estate agents and companies, 51% research communities or neighborhoods online, and 54% take video or virtual tours of real estate properties.
The study goes on to say that 42% of these real estate shoppers search online newspaper classifieds, 32% search ad sites, 24% browse community blogs and 19% post and view messages on online forums. These significant percentages show that for these shoppers, the information they find on the Internet has the power to influence their purchase decisions.
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Responding to New Trends
Now that you recognize the possibilities that come with the Internet, how should you take action? If you want to take gradual steps, then first create ads for online classifieds and ad sites. These ads are practically identical to your print ads. The only difference is that they are online. Once you have submitted these listings, post messages about your available properties on community blogs and message boards.
While smaller actions like these can help expand your reach, the most effective strategy is creating your own Web site. Your real estate Web site will not only help you develop a Web presence, but it will also help strengthen your brand. It will create a centralized location where real estate shoppers can conveniently browse through and learn more about your company and the properties you represent. Furthermore, because of the flexibility of your site, you will have the space necessary to describe in detail each property and the community in which it is located. The more perks you can highlight, the more convincing you will be.
Responding to new consumer trends will prove to be quite beneficial for your real estate business. And, in addition to exposing your business to real estate shoppers who practice online research, you might even attract new clients.