The National Association of Realtors(R) published the results to their consumer survey in November.
The results to this survey are helpful when you are marketing a home for sale - who is your target customer for that property and how do you reach them?
When we first started in real estate, we did a lot of print advertising in newspapers and real estate guides and were unable to find a return on the significant investment we made. We now use a very strategic marketing approach to target where buyers are looking, with a primary emphasis on the Internet.
It's interesting that buyers are using many resources when looking for a home, but when they actually find "The One" it is either from their Real Estate Agent or the Internet (66%).
Resources Buyers Used in Searching for a Home
- 87% Used the Internet in their home search
- 85% used a real estate agent
- 48% attended Open Houses
- 47% looked at print or newspaper ads
Fewer buyers rely on a home book or magazine, home builders, television, billboards and relocation companies.
Buyers most commonly start their search process online and then contact a real estate agent.
Where Buyers Found the Home they Purchased:
- 34% from a Real Estate Agent
- 32% from the Internet
- 15% from yard signs
- 7% from a friend
- 7% from a builder
- 3% from print or newspaper ad
- 2% directly from the seller
- 1% from a home book or magazine
Read More About NAR's Consumer Survey Results
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Kevin and Monica Ray are Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana. We provide services in, but not limited to: Missoula, Superior, Alberton, Saint Regis, Lolo, Clinton, Turah, Potomac, Florence, Corvallis, and Hamilton
For more information on Kevin and Monica Ray or Western Montana Real Estate, they can be reached at 406-207-1185 or online at www.YourMT.com.
I am always looking for this numbers. I use them in listing presentations. Thanks for the link.
Thanks Tere, they are great for listing presentations.
With the advent of social media and 32% of buyers finding their homes on the internet, real estate agents are going to have to get on board with internet and social media in order to justify our value to the client.
Kevin & Monica - Ithink in the future, you will see more internet, and fewer and fewer newspaper and magazine articles. They just don't stay current for one thing.