The Digital House Hunt: Real Estate Market Trends Study By NAR and Google

March 5th, 2015

GoogleStudyJason Lusk pointed out the Digital House Hunt study from a couple of years ago to me recently. This study is apparently from early 2013 since that’s when this was posted on the NAR website. Some how, I’d managed to totally miss this study when it came out.

While there is nothing particularly new or earth shaking in this report, the 27 page PDF is an excellent summary of the kind of online marketing statistics for real estate that real estate photographers need to have a grasp of and use in their marketing.

Here are some of the report highlights:

  • 90% of home buyers search online during their home buying process.
  • Real estate related searches on Google.com have grown 253% over the past 4 years.
  • Buyers use specific online tools during different phases of the home search process.
  • There are important “local” search terms and websites for buyers.
  • Mobile technology connects online to offline home buying.
  • Video and YouTube helps satisfy buyers’ research needs.
  • 36% of new home shoppers utilize a mobile device while they are watching TV.

Of course, this report being two years old actually understates the current importance of mobile devices. Mobile devices over took fixed mobile devices in 2014. Right now 30% of you are reading PFRE on mobile devices.

Thanks Jason for pointing this study out to me.

 

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6 Responses to “The Digital House Hunt: Real Estate Market Trends Study By NAR and Google”

  • NAR has agendas.

  • Cat M. – What are those agendas?

  • Cat M. – You do understand that the NAR is using the info from Google in their report…to help realtors with their marketing efforts in today’s digital age. Now, it should give us all pause as to how much Google knows about what we do…and generally when and where we do it….

  • NAR feeds on Realtors in any and every way they can. This report is just a veiled sales pitch to Realtors to get them to see the value of advertising on realtor.com. Which BTW is a waste of money. The vast majority of home buyers wind up on zillow.com. Sellers like it because they can list as a FSBO for free without a Realtor and buyers like it because of the property estimates (“zestimate”), as inaccurate as they may sometimes be, as well as the ability to see BOTH listed properties and FSBO’s. The educated consumers let the Realtors chauffeur them around to see the 6% overpriced MLS listings, then shop on their own for the FSBO’s since the Realtor will never show those to them.

  • Over my 38-year career as a REALTOR I have worked in two marketplaces. In each there were FZBOs, though they made up very little of the inventory of available homes. If ever I encountered a FZBO that met my buyer client’s needs I contacted that seller to ask permission to show my buyer client his property, because . . . based on my NAR Code of Ethics, that’s what I’m supposed to do in helping my buyer: show the buyer every available property that might fit his wants and needs. Seldom was I refused the opportunity to show the seller’s property, and never would I not have been paid if my buyer purchased. How sad to me it is that some folks still have the idea that REALTORS and the National Association of REALTORS are scum and unprofessional and above all, not knowledgeable.

  • “and never would I not have been paid if my buyer purchased.”

    Been in the biz for 20 years and what you say is in practice unheard of. Who would pay you? The buyer or the seller? Would they pay you out of the goodness of their hearts or would you have the seller or buyer sign a contract?

    “In each there were FZBOs, though they made up very little of the inventory of available homes.”

    There’s a huge amount of FSBO’s in any market. Then you just don’t know how to find them. How conveeenient! 🙂

    “How sad to me it is that some folks still have the idea that REALTORS and the National Association of REALTORS are scum and unprofessional and above all, not knowledgeable.”

    It might help your argument if you don’t tell people who know better there are no FSBO’s around. Oh, that’s right the FSBO’s, “didn’t meet your buyer’s requirements…”

    “based on my NAR Code of Ethics, that’s what I’m supposed to do”

    I’m glad I’m reading this on an empty stomach. Now let’s get back to discussing photography, hmmm?