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Home Buyers Continue To Embrace Digital

March 11, 2013
From Loan Officer John Hendley

From Loan Officer John Hendley

Did you know that 77% of mobile searches by homeowners happen at home? You wouldn’t expect that statistic, but mobile devices are growing as a key way to access the internet.  Overall, Google searches done on mobile devices grew 120% from 2011 to 2012.

The sales funnel is no longer a set path that takes buyers through a process from beginning to end. Instead buyers bounce back and forth between multiple channels – social media, Google searches, MLS, YouTube videos, and online forums.

Google and the National Association of Realtors teamed up to learn about reaching home buyers and building a brand across this growing digital divide.

Study Highlights:

  • 90% of buyers used online search while shopping for a new home
  • 69% of potential home buyers use local terms in their search (Milwaukee homes, Atlanta condos)
  • YouTube is the top video destination for research by home buyers
  • 25% of home shoppers take action on a real estate site on the first day they begin researching. The majority are 25-34 years old.
  • 88% of buyers still work with an agent despite their online activity.
  • Traditional tools like billboard, print, and TV are not important to buyers for research or decision-making.

The bottom line is that buyers are highly engaged with digital media, but they still rely on real estate professionals to ultimately complete the home purchase. You need to be the bridge between their online and offline activity. So, ask yourself these questions:

  • Do I have a strong online presence? Any online presence?
  • Am I mobile friendly?
  • Am I devoting enough time, resources, and thought to online marketing efforts and strategy?
  • What traditional marketing channels are still working for me? Which ones are not? Is it time to re-evaluate my advertising mix?

Watch for more highlights from The Digital House Hunt study, coming soon!

Source: http://www.realtor.org/reports/digital-house-hunt

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