Learning something new is no longer an option for a salesperson who wants to be successful selling real estate in 2013. The changes we?re seeing are profound, and learning them through experience is no longer an option. The time it would take would make it almost impossible, and the level of frustration would be unthinkable. This blog ?Stats Driving the Real Estate Market and How to Use Them Profitably? is zeroed in on those stats that are the GAME CHANGERS
Most of these stats came from the just-released Profile of Home Buyers and Sellers 2012, which is compiled and published by the National Association of REALTORS?. You can purchase a copy at http://www.realtor.org/prodser.nsf/products/186-45-12?OpenDocument#detail.
The Game Changers in 2012
1. Online Shopping. 90% of all buyers used the Internet as a source of home buying information, and 87% used a real estate agent as a source. What this says is you MUST have your own personal website if you really want to be in the GAME! When looking for a house to buy, 47% of buyers visited an agent?s website, but only 39% visited the company website. Personal websites today are at the top of the Must Have list (just below a real estate license, of course).
2. Email and Text. The most difficult part of email marketing is getting the recipient to open the email. This problem is alleviated somewhat by sending emails to a list of people you know well. As for texting, Jessica Miller-Merrell of Blogging 4Jobs recently presented the stats that 94% of text messages are read vs. 3% of email and direct mail. Some of the contacts I have just will not communicate with email?and the numbers are growing. This week we are disconnecting our land telephone lines in our home and office because we only get solicitation calls, or no calls at all; we will only have cell, text, and email communication devices. So, what does this say about marketing and communicating? You already know! Would you list your home with an agent that didn?t know?
3. How Sellers Found their Real Estate Agent. 61% of sellers found their real estate agent either through a referral or by using someone they had used before. This speaks volumes about the importance of staying in touch with past buyers and sellers and consistently working a Sphere of Influence for referrals. ?Out of Touch = Out of Mind? is a phrase worth remembering.
4. Top 3 Websites Buyers Used to Find a Home. These were: MLS 54%; REALTOR.com 51%; and real estate agent?s website 47%. It pays to enhance a listing whenever you can to separate your listings from the HERD listings. This can easily be done by furnishing all of the information requested and providing a ?full-motion? video. It?s worth the trip to go to YouTube.com and look at the videos in your marketplace to see how many visits some of these real estate videos get in a very short period of time. Also, check out www.bombbomb.com; they have communications software that takes video and email marketing to another level. We will be using it extensively in future blogs.
5. How Buyers Found Their Real Estate Agent. The Top Five: 40% were found by referral; 11% came from an Internet website; 10% had used that agent previously; 6% got the agent?s name from a sign; and 6% found their agent at an Open House. These five sources account for 73% of all buyers, and they haven?t changed much in the past five years. Sometimes we spend most of our time and money on techniques that are exciting and available but overlook those techniques that are more profitable?such as having an Open House twice a month, or contacting past buyers and sellers with a monthly newsletter, or having a sign with a wealth of contact information beyond just a phone number.
Real estate is not a difficult/impossible business for those who use systems and techniques that are effective, affordable, and doable, and these five Game Changers certainly fit in that category. It?s not possible to achieve a profit on any business if you spend more than you make, but profits come to those who spend their money and time doing those things that create significantly more income than cost.
Posted January 9th, 2013 by Leroy Houser
Topics: January
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