Online presence is becoming even more important for real estate agents because 90 percent of home buyers today rely on the Internet as one of their primary research sources; 52 percent turn to the Web as their first step; real estate-related searches on Google.com grew 22 percent year-over-year. These statistics were recently shared by Laura Qui, sales field manager for Coldwell Banker, with members of the Silicon Valley Association of Realtors.
Qui said today's consumers are very tech savvy and jump back and forth from multiple devices, especially mobile devices. In fact, one in five of real estate-related searches happens on a mobile device; Google real estate-related searches on mobile devices grew 120 percent year-over-year from 2011 to 2012.
The Internet has changed the way people buy items. Qui said Google defines the online-decision making moment as the "Zero Moment of Truth." People who buy products first read reviews of the product online. As consumers search the Web, they have a tendency to make split-second decisions. If you can capture them in that moment, they are locked in to you or your product. This means response time for agents is critical, said Qui.
These days, consumers literally have a computer in their pocket, so timing is everything. Consumers have no loyalty. When you get their attention, response time needs to be on point with leads. It will take longer to nurture these relationships, but if an agent responds right away, there is a 60 percent chance they will go with that agent, said Qui.
Qui recommended building a social media strategy that includes past, present and prospective clients. In addition to Facebook, Twitter, LinkedIn and blogs, agents can capture the attention of consumers via video and increase their exposure online by 200 percent. According to the National Association of Realtors, 73 percent of sellers say they would list with a real estate agent that would use video to market their property.
Video is not only the fastest way to share information; it's also emotional and believable, said Qui. YouTube is the largest search engine after Google and has three billion video views per day. Videos can be fun, information and get people talking, said Qui.
These days, Realtors can provide their clients more in-depth information online, to help them in their home search. Agents are a not only a great resource, they can sell a lifestyle. They know much about their community and can share this via social media conversations, including videos.
Carolyn Miller, president of the Silicon Valley Association of Realtors, said as additional membership benefit, members of the local trade association recently received Authentisign2Go, the tablet version of the electronic signature feature.
"The technology is out there for Realtors to use and be a resource to their clients. We are seeing more agents take advantage of these tools," said Miller.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.