To better understand the evolving role of digital media in the consumer home search process. Google and NAR collaborated to uncover trends and insights around digital media usage among home shoppers, whether they were looking for an existing home, a newly constructed home, or an apartment. Together, Google and NAR’s individual research results tell a cohesive story about today’s uber-connected home shopper!
Here’s some of the big takeaway elements of a digital home search:
- Shoppers will perform an average of 11 searches prior to taking action on a real estate site
- Home shoppers using search engines are 9% more likely to take an action on a real estate brand website than those who do not search
- 69% of home shoppers who take action on a real estate brand website begin their research with a local term, i.e. “Houston homes for sale” on a search engine
- 52% of actions on real estate brand site come directly from a local search on a search
What does this mean for you, if you’re looking for a home online?
In real estate, most websites exist to extract your contact information. They’re giant traps created as a lead machine for Realtors (the ones who pay anyway). Websites such as Zillow, Realtor.com and Trulia are all designed with the sole purpose of creating (weak) leads for Realtors, and in turn, revenue for the websites. At the same time, these are the exact sites where buyers begin their home search and where sellers look to find the value of their current home. This creates a variety of problems due to the false advertising and inaccurate data.
Many of the homes listed on Zillow may not be for sale. It commonly happens that a home buyer is intrigued by a house they saw on Zillow. Zillow’s data showed the house was currently for sale, had been on the market for almost a month and was in the area and budget they wanted. What an agent often finds via the MLS, which is updated every minute rather than every few weeks, is that the house had sold in three days a month prior and for over asking price.
If you’re working with a Realtor, they’ve probably set you up with a home search. I know it’s still tempting to look on Zillow. You may see homes that fit your exact criteria, and the price is great! But why hasn’t your Realtor sent you these?Unfortunately, the listing is probably not accurate or available at all. Realtors set you up with home searches which are directly from the MLS (Multiple Listings Service). The MLS will be the most up to date home search you can get, and it will come directly from a Realtor. With an MLS search set up via a Realtor, you will know the homes in your search will be on the market. Also, if you set up your search with a Realtor, they will be the only one contacting you.
But what if you’re merely curious and not ready to buy? You don’t want to waste anyone’s time!
Realtors work on commission, so I realize you may not want to waste their time. Most Realtors won’t mind helping you with a simple automatic home search. It takes almost no time! Realtors work in a competitive field and by going out of their way to help somebody now, they are slowly building a connection. A new client may use this Realtor in the future or even recommend them to a friend. If not? They’ve wasted almost no time. Not to mention saved somebody the headache of sifting through false material and dodging a million sales calls!
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