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The Digital House Hunt By Remarketingexpert.com
What Study Say about DHH The National Association of Realtors (NAR) just released a study that focuses on a very interesting subject. The title is “The digital house hunt: Consumer and market trends in real estate”. What makes this study even more interesting is that it’s conducted in association with Google, the supreme source of information when it comes to Internet.
Home Buying Process There may be hundreds of suitable homes in the market but the average home buyer will see no more than 12 before making a decision. It is notable that this is down from 15 in 2007 and it decreases steadily every year.
Role of Internet in Home Buying Process As internet increases its utility as a primary source of real estate information and more and more visual information such as quality photography and high definition video is readily available, the home buyers will rely on the online material to rule out homes with less online appeal.
Digital House Hunt According to the “Digital House Hunt” report we discussed in our previous posts, 57% of the home buyers will search online for 60 to 120 days before going out to view homes. There is no doubt that the short list of the 12 homes they will view before making an offer will contain only the homes that really impressed them and stood out from the competition.
Before the Internet Revolution Before the internet revolution a listing’s marketing budget would be hardly enough to allow for a few Xerox flyers and, in the best case, a couple of newspaper ads.
Home Buying Process Today The Internet revolution changed the home buying process fundamentally. Real estate related searches on Google.com have grown 253% over the past 4 years. That is impressive. And experts expect the number to explode even further in the next 4 years.
Fact – Digital House Hunt One of the interesting points this report makes is how many people use their mobile devices to search for homes: “89% of new home shoppers use a mobile search engine at the onset and throughout their research”. “Local” search terms and websites are important for buyers. Real Estate relates Mobile Searches At work 31%, Waiting in line 28%, At restaurant 27% and At other people’s homes 26%.
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