Is your agent marketing you online wisely?
You’ve been reading about interviewing real estate agents here in Salem Oregon and what questions to ask. This blog is not another one to give you ideas. This blog is about understanding how an agent should be spending the money that you give them to sell your home.
What do you need to know? The following data is based on the NAR 2007 Profile of Home Buyers and Sellers.
84% of home buyers are using the internet to search for homes. 86% of those between the ages of 18-24, and 91% of buyers between the ages of 25-44 use the internet. Not surprisingly only 51% of those 65 or older use the internet to search.
What does this mean for you? Advertise online and do it WELL.
The FIRST step home buyers are taking in their search process is to look online (32%). 20% contact an agent first, and another 12% went online to READ about how to buy a house. So 64% of buyers are using the internet in some way as their FIRST step.
So why is it that sellers are continuing to pay high fees for outdated means of marketing homes: Slick sales presentations and conditioning.
What do buyers like when they look online?
Photos, lots of them. 84% found photos useful, and another 14% found them somewhat useful. So…I ask myself, why do sellers hire agents that can’t take a good photo. Do you want your home represented like this on the MLS for 84% of buyers to judge?
Which do you think would make someone want to come and see your home?
I am truly stunned at how horrible some of the MLS photos are. With buyers searching online, are you sending them away by letting your agent put unflattering photos online. You can turn off 84% of buyers with this one action.
Maybe if you are having trouble in selling your home, it is because of poor marketing photos. I encourage you to get online and see what buyers will see when they look at your home. You may be surprised.
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May 14th, 2008 at 4:24 pm
You mentioned that the majority of people are finding their properties online. I’m one of those people that fit right into your highest category. In fact, I just came across a Google Maps mashup that lists homes across the US and property in Florida including detail about the properties, etc. You may want to take a look to know what you’re potential clients are using. Good tool for buyers, sellers, and realtors.
May 19th, 2008 at 9:02 pm
Eddie,
I’m always trying to find new sites and see what potential customers are looking at.
June 8th, 2009 at 10:50 am
[...] knows this. The rates and services offered are all fairly similar. Adapting to new technologies and ways of doing business, moving from an agent centric model to a consumer centric model, is [...]