DISQUS

Phil Sexton · 1 year ago

Good Summary - I'm going to use the 'increased trust' point to try to connect with some agents that still aren't online. Plus, it seems much easier for them to rank higher for their name compared to 'Arizona Real Estate' for example. Of course this doesn't work for the realtor named George Bush - he's got an uphill battle regardless.

Ron Park · 1 year ago

Hahaha, an agent named George Bush. Funny, yet I feel sorry for someone who really has that name!

But wow, 40% is still put into print? I mean, I read in the numbers in a book that the only reason why agents use print is to appease the client. Man, shouldn't we get off the train that's going towards the brick wall? I can't really remember the last time I opened up a newspaper, even Yellow Pages!

And 74% of searchers finding their agent thru search engines. Profound, I must say.

-Ron

Tom Hall · 1 year ago

Hmm - makes we wonder if I shoulda become a programmer writing optimization code versus selling real estate - or maybe I should do both?

tigreroar · 1 year ago

It reminds me of the way indian hunters used to get buffaloes. . they get them to stampede towards a cliff and they all fall one by one to their deaths.
Realtors do what other Realtors do. . advertise in magazines, newspapers and they don't realize the big boys have left them years ago. The Internet is the number one place where I advertise my practice in Real Estate in Short Sales for Maryland.I would not think of spending a single dollar in the clasiffieds ads in the Washington Post.
Fernando Herboso
www.ReallyNiceHomes.com

Peter- Real Estate Marketing · 1 year ago

Thanks for a great post. I especially like the statistic about how 45% of people have learned about agents they didn't know existing. It's a proof that if you are not online, you are missing the boat, BIG TIME.

I said it before and I'll say it again, real estate agents and investors who do not embrace the internet for their real estate business will be left behind. The future is here and Web 2.0 is changing it all.

This is one of those posts that need to be printed out. Thanks,

Peter

Adam · 1 year ago

A couple of thoughts:

Online/search marketing is the place to be IF buyers/sellers know to look "realtor in New York." But, what if part of one's marketing includes evangelizing the merits of a destination/community? (Think about trying to convince people to vacation in Key West instead of Hawaii.)

Yes, print absolutely makes no sense anymore. For us, it's expensive, doesn't deliver leads, and we can't measure it at all. The rule today - if you can't measure it, don't use it.

Derek Overbey · 1 year ago

Joel,

Having just crossed the bridge from the brokerage world to a real estate technology startup, I can tell you first hand that even with knock you over the head statistics like these, it is very hard to convince some real estate agents what is REALLY going on out there.

Even while working at Intero Real Estate in the heart of Silicon Valley, I had to pull teeth to convince agents that the newspaper was a dead medium. They would always tell me that in their town or neighborhood the newspaper was still used almost exclusively by the seller, which was probably true.

But agents have to be able to get beyond the objections and use the before mentioned information to convince their potential clients that online marketing really works. It is a process that will take time to get over this objection but if you are passionate and truly believe it yourself, it becomes a lot easier to point them in the right direction.

Derek Overbey
Sr. Director of Partnership Strategy
Roost.com
http://www.roost.com
http://blog.roost.com

Michael Zenga · 1 year ago

I sell modular homes and online marketing is the centerpiece of any marketing campaign I do for the houses I sell. I have gotten so much better return online

Michael Zenga
www.zncustombuilding.com

Tara Sybrant · 1 year ago

I would like to get my hands on this study, can you direct me to it?

Mark Bergman · 1 year ago

Great posting. I, too, would like to see the original Yahoo study. I've been sold on on-line marketing for several years. Convincing the older sellers that they don't need to see their home in print is the big disconnect for me. I consider myself a good salesman, but it's a leap. I do very limited print advertising in a second home marketplace. I consistently tell my sellers that I plan to be the first broker on the area to totally eliminate print advertising. After operating my current firm for 2+ years my branding is pretty solid. I support ($$) 2 monthly print pubs right now. It will be just one (maybe zero) in 2009 and none in 2010.

Jeremy · 1 year ago

"The Internet impacts consumer trust. Forty percent of respondents credited a site in increasing their trust in the agent."

Have you seen some of the agent sites out there? I think that buyers are able to quickly credit and discredit others with a few clicks. Fortunately, the web is not an interactive billboard, but some agents are still treating it as such.

BTW -- Adam your rule is one to live by...

dagny73 · 1 year ago

If you aren't online you are going to lose clients. It's as simple as that. The younger generation that's looking to buy is technologically savvy. If you aren't as experienced as they are, you'll lose them.

steamboat

DL · 1 year ago

Well, that could be because a lot of online services are either cheap or free. At Long & Foster Real Estate, agents are provided with their own website in addition to all the “free” advertising provided by www.longandfoster.com. Many companies, like Google and Zillow, provide free web site analysis tools, free neighborhood stats, free blogs, etc. So while I don’t disagree with you that too much is spent on print advertising, I don’t think it’s at the expense of online advertising.

Ana in San Antonio · 1 year ago

NO question its all about the net!