Why Do You Need a Tech-Savvy Realtor(R)?

In today's highly competitive real estate market, it has become more important than ever for sellers to hire an agent who understands how to market their home on the Internet.

The day has come and gone for Realtors(R) who use old-fashioned sales methods in real estate - putting a sign in the yard, putting the property in the Multiple-Listing Service (MLS), running an occasional newspaper ad, and sitting back waiting for the phone to ring.

This method might have worked at one time, but no more. Consider these facts:

  • In every age group, newspaper readership is wayyyyy down. In the 30-45 age group, less than 35% of people read a newspaper! Even in the 45-55 age group, only slightly more than 45% of people read the newspaper.*
  • Only 21% of traditional buyers found their agent through brochures, fliers, or mailers to their home. 92% of Internet buyers found their listing on a website and 63% of Internet buyers found their agent through a search engine!
  • This trend will only continue- have you tried to get a teenager to read a book lately? They are probably too busy using their IM-ing (instant messaging for those of you who are not familiar) or watching YouTube videos!
  • 77% of buyers use the Internet in their search for a home, according to a 2005 study.

*2006 CAR(R) Economic Study

  • March 01 2009 - Missoula
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Answers (3)

Profile picture for jimmy57
You have correctly identified the trend.  Extend the line of reasoning, and REAs are reduced to a niche service, like travel agents or stock brokers.

disintermediation


  • March 01 2009
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With the bulk of today's buyers searching online, there is no doubt that strpng internet exposure is critical to success.  But the truth is you just don't know where your buyer will come from, and so I recommend that all marketing channels be ramped up fully, including the more traditional ones including Broker Opens, Public Open Houses, local neighborhood promotion, and yes, even print advertising.

But I don't believe that the internet obsolesces the value of a good agent - here I must put the emphasis on "good".  I am seeing a disturbing trend - at a time when it takes more, not less, to sell homes, I am finding some agents seemingly closing down, giving up, throwing in the towel.  That is not a good thing. 

Early on in my career, I worked for a guy who stressed the expectation and requirement that we all "make the bell", in other words, report to duty, do the job we were hired to do.

I have always stressed the importance of a strong internet marketing program, second only to pricing correctly.  But now, I also stress to the sellers and buyers I pursue, that agent effort is critical to success.  Whether you are considering a sale or purchase, find yourself a full time agent who is fully engaged and committed to the business of selling and buying homes.  In short, make sure you are working with an agent  who "makes the bell", reports for duty, and delivers results.

Don't underestimate it - agent effort may be the difference between success and failure.

  • March 22 2009
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Because people are visual and these days almost everyone begins their home search online.
It's so important not only to have an online presence but to use an agent that will also showcase your home properly to bring the buyers in. This means they need to have great photos because online is the first place that a buyer will see your home!
  • August 20 2009
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