Mobile Is King in Real Estate

A recent survey by the National Association of Realtors has shown what many successful agents and brokers have suspected for a while now ?? mobile apps lead more buyers than open houses or signs on the lawn.

“While yard signs and open houses have historically been used most frequently after online websites and real estate agents,” the 2014 NAR report stated, “the use of mobile technology is now outpacing these traditional sources in the home search process.”

This is particularly true among younger buyers, who overwhelmingly favor researching homes and properties online. According to the NAR survey, 88 percent of all buyers (and 94-96 percent of those 44 and younger) use the internet as their primary resource for information on homes. That’s a full percentage point higher than those who turn to agents for information.

Mobile is now favored by half of all buyers. Meanwhile, buyers rely on yard signs and open houses 48 and 44 percent of the time, respectively. Buyers 18 to 24 are by far the least likely to visit an open house for information ?? only 23 percent of buyers in this age range attend open houses. Conversely, mobile is used primarily by 62 percent of this age group.

Other old-school methods of reaching buyers, such as print advertising, accounts for less than 25 percent, while billboards and television are used by merely 4 percent.

Buyers, of course, still turn to agents to actually buy, but the percentage of buyers who find their homes on the recommendation of an agent has leveled off at 43 percent, where it has been for two years. It has been about 40 percent since 2001.

Homebuyers ranked, in order, photos, detailed property info, interactive maps and virtual tours as the most useful features for home search online.

What this means for agents these days is obvious ?? your buyers are tech savvy, smart, and wired. And if you want to reach them, you had better be all those things as well.

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