Google and the National Association of Realtors just released a combined study showing the influence that Mobile, Video and Search are having on the buyer/seller process. I’ve included the entire presentation below my summary.
There were 6 key take aways that I grasped while reviewing the presentation, I’ll out line them for you in the video and the notes below.
1. Page 8 of the report mentions that 89% of home shoppers use Mobile search at the onset of the home searching process.
I would have like to have more information on this stat. I don’t see that type of result on any clients sites. But the important note is really Mobile search is in growth. It can’t be ignored and you need to make sure your site is usable on mobile devices.
2. Page 10 highlights 77% of mobile research is occurring at home. People are using tablets and smart phones while sitting in the living room, watching TV or talking to their spouse. Again, make sure your site is mobile friendly for both tablets and smart phones.
3. I’ve been telling clients about this for a while. Take a look at page 12. 86% of home shoppers look for community videos. Only 24% watch instructional videos. So get out of the office and film the area, talk about attractions, restaurants, parks and communities. You bring CONTEXT to the listing data. Only you know if an area is good or bad, prices are high or low. Use that in your videos.
4. Page 16, looks at life cycle of a buyer. 3 months from start of search to purchase of home. 3 weeks and they decide on a Real Estate Agent to use. You have a short windows to be that agent. Have a good consistent follow-up schedule to ensure you are the agent of choice.
5. Page 18, Millennials are here, and they are buying. They are now the largest segment searching for homes. If you are uncomfortable with technology, well, 1995 called and they want your attitude back. You can no longer afford to pretend to not understand your phone, website or social media.
6. Page 20, Traditional Media is non existent for home searches. Don’t waste your money there. Take the $6000 you spend on Newspapers or Magazines and move it online. This is not new, this data has been hammering it’s way in to the heads of agents for the last 5 years.
That’s it folks, post your questions, or send this to a friend who desperately needs to read it.