A new report just released by Inman News details how home buyers ultimately find their new home. The results are not surprising:
- 36% of all home buyers found the home they purchased through their real estate agent
- 36% of all home buyers found the home they purchased on the internet
Just with the two items above, a whopping 72% of all recent home buyers found their new home through their agent or through their online searches. Ninety percent of all recent buyers did utilize the internet to look at available homes and assist themselves in their home search process.
Agents often ask why I market so extensively online. I do so because I want my clients' homes to sell. I want those 90% of internet searches to see MY clients' homes.
Some agents ask why I also market to my colleagues. Again, I do so because I want my clients' homes to sell.
The report continues:
- 12% of all home buyers found the home they purchased from a yard sign.
- 6% of all home buyers found the home they purchased through a friend, neighbor or relative
Don't want a For Sale Sign in your front yard? You may have potentially lost out on 12% of the potential buyers.
The photo postcard mailing I send to your neighbors helps us capture an additional 6% of potential buyers for your home.
We've now tackled 90% of the market of potential buyers for your home. Most buyers are now aware of your home.
Where do print ads come in to play? Only 2% of buyers located their new home through a print ad.
How about open houses? Not even listed on the report, as while many buyers do visit open houses, they do not typically locate their via these open houses.
So, as agents, where should we focus our time, money and efforts?
I focus my efforts on those 90% of buyers.
If you're selling your home, make sure all efforts are focused on these 90% of buyers. The odds of selling will be in your favor
Don Fabrizio-Garcia, REALTOR
Real Estate Broker & Appraiser