Communication in 2011 has increasingly moved online. After all, this year the number of people using the internet worldwide hit the 2 billion mark. This also holds true for the real estate business and how buyers and sellers expect to be able to find information.
In the 2011 Profile of Home Buyers and Sellers, using a real estate agent’s web site was the second most frequent method reportedly used to search for homes for all buyers and first-time buyers specifically, and the third-most frequent method for repeat buyers. A little less than half of all buyers used this method, which was even more popular than using a real estate company’s website, suggesting that they are looking to connect with an individual agent.
Although a relatively small amount of business was reported generated by an agent’s web site in 2010 – just 3 percent – that number rose proportionately to the amount resources dedicated to maintaining the site. Those who put $500-$999 into their site saw 7 percent of their business directed from their web site, and those that spent $1000 or more had 10 percent of their business come from their site.