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Google & NAR’s Study on Digital Home Buying

keypadGoogle and the National Association of Realtors (NAR) collaborated on a study looking at the digital usage of today’s home buyer. The study found that buyers are relying more and more on the Internet as they search for good real estate information:

“Nine in 10 home buyers today rely on the internet as one of their primary research sources, and 52 percent turn to the web as their first step.”

Here are other items the study revealed:

Top 5 new home buyer activities on mobile devices

  1. 51% – Read general home information
  2. 48% – Get directions in order to visit a home
  3. 44% – Compare prices
  4. 35% – Compare features
  5. 35% – Search a listing company’s inventory

Places where new home buyers use their mobile devices

  • 77% – At home
  • 31% – At work
  • 28% – While waiting in line
  • 27% – At a restaurant
  • 26% – At someone else’s home

Days of research before new home shoppers take action on a site

  • 40% – 120 days
  • 17% – 60 days
  • 7% – 30 days
  • 4% – 3 weeks
  • 3% – 2 weeks
  • 5% – 1 week
  • 24% – same day

% of age groups who registered to buy/sell a home on a website

  • 8% of 18-24 year olds
  • 31% of 25-34 year olds
  • 21% of 35-44 year olds
  • 19% of 45-54year olds
  • 14% of 55-64 year olds

Used the Internet to search for a home by category

  • 47% – First time buyers
  • 75% – Senior buyers
  • 93% – Vacation Home buyers

Obviously, today’s purchaser is utilizing the Internet to do extensive research prior to making a home buying decision.

ATTENTION AGENTS:

Positioning yourself online as an expert in the real estate industry has never been more important. The study above points out:

“In today’s complex, rapidly changing, and digitally driven media environment, capturing a home shopper’s attention in order to build a real estate business and personal REALTOR® brand is tougher than ever.”

Join us on our webinar, The facebook Strategy that Brands You as the Market Expert, next Thursday, January 24th at 2PM (EST). You can reserve your seat here.

 


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