You’ve tried to avoid it for years…a real estate agent website.  You figured word-of-mouth, newspaper, flyers and signage would cover your advertising for years to come. Well, if you haven’t crawled out from under your rock already, it’s 2008. We live in a digital world…where Facebook and BlackBerry addictions have supreme reign. Where blogging, texting and e-mails are our communication lines of choice. People use the Internet now to buy their groceries, rent a movie and order their favourite Chinese take-out. If your real estate business has yet to embrace the online age, where does that leave you? Probably miles behind your competition. So isn’t it time you capitalized on the Internet revolution?

 Start by understanding that more and more people are relying on the web to learn about the entire real estate process. There has also been a shift in consumer from Generation X to Generation Y. First-time buyers from GenY will have different communication needs, purchasing behaviour and housing requirements than their earlier counterparts. Now more than ever, it’s vital for all real estate professionals to understand why the Internet is so crucial to today’s industry, and why choosing not to get involved would reduce their profits and competitive edge.

 As today’s potential client has less time than ever before, they desire their information served on a silver platter. So why not deliver the information they want and make it available to them 24 hours a day? Give them a one-stop-online-real-estate-shop to help them buy their dream home? That’s what they’re looking for. Nowadays, they expect it.

So why are customers so apt to house-hunting online?

1.  Well first, it saves them time, and plenty of it. Who has the energy to flip through a mile-high pile of messy newspapers? Or make 20 preview appointments with a REALTOR®? Certainly not the urban jet-setters, soccer moms or suits of today’s world.

These Internet savvy buyers will take an average of 4.5 weeks to look for information on homes and neighborhoods before ever contacting a real estate professional, as compared to a traditional buyer that takes only 1.5 weeks. However, once the initial information gathering is complete, Internet buyers spend significantly less time with their agent and preview far fewer homes, spending 2 weeks, compared to 7 weeks for the traditional buyer.

 2.  Online buyers also enjoy a greater sense of control. Real estate websites of today embrace a more user-friendly attitude than ever before. The Internet helps these buyers better understand the whole home buying process, and puts them in better control of that process. They can refine their needs and wants and comparison shop to paint a more detailed picture of their dream home for you. In the end it also helps save you time, so you can steer clear of what they don’t want, and deliver on what they do.

Just know that if they’re looking for a ‘4-bedroom, 3-bathroom raised bungalow with a salt-water outdoor pool and white picket fence, close to the highway yet nestled in a quiet community and close to a nature trail’…you’ll be the first to know.

3.  Internet buyers tend to be global risk-takers. They are more willing and able to relocate now more than ever. These buyers are looking to move to different parts of the country, and use the Internet to scope out the hottest trends. They want to settle into a new lifestyle and status, not just a new home. With it they’ll earn a trend-setting label among friends and colleagues, and a life experience they’ll never forget.

Internet buyers are expanding their families at a slower pace, having children significantly later than their baby-boomer counterparts. As a REALTOR®, you need to appeal to their sense of freedom, mobile lifestyle and ability to live in an exciting new place, whether on their own or with a partner.

4.  The information they need is available at the touch of a button, anytime, anywhere. Whether they’re searching for a home on their lunch break or at 2am, they have all the resources they need on their timetable. They don’t have to play phone tag to answer their questions. Everything they need is ready and waiting for them online.

 Keep in mind that Internet homebuyers want as much detailed information as possible. Therefore, real estate professionals that offer websites with specialized, inside information and detailed listings including plenty of quality photos and virtual tours, will be more likely to capture these customers.

So, who exactly are these Internet savvy homebuyers, anyway? Let’s take a closer look at the Internet homebuyer profile and how they differ from traditional buyers.

They enjoy a controlled environment.The Internet empowers this type of consumer. They have control of the search process, by way of privacy and freedom. They can regulate the level of communication they choose to have with an agent or agency, and therefore feel less pressured and more comfortable in the decision-making process.

They are usually first-time buyers.The Internet buyer tends to be new to the real estate purchasing market, and is younger, wealthier, more likely to be married and better educated than a traditional buyer.

They want to be as informed as possible. These buyers want a complete understanding of what they’ll be jumping into. Not just listings and prices, they want information on the entire real estate transaction, from agent negotiations to legal procedures. They want all the real estate marketing tools wrapped into one complete package. 

Internet savvy real estate professionals are at an advantage to fill in the gaps for these types of clients. Armed with this buyer profile and the proper real estate internet marketing tool, you can learn to better recognize and understand the requirements of this market niche. Think of real estate professionals like a GPS Navigation System for the Internet homebuyer. The Internet is their road map, but they still need detailed navigated directions to get to their destination; a guide to help them through the negotiation and transaction processes of home buying.

Remember, these Internet buyers will judge your competency based on your online perception. Establishing an online presence through a user-friendly real estate website and e-mail has become a benchmark of professionalism for all business. So, if you find your business is lacking in this department, keep in mind that valuable sales are being lost each passing moment. A website can therefore only compliment your role in the home buying process. Take action and get your real estate business online. Farming, referrals, sign calls and traditional advertising can only take you so far in the 2008 marketplace.

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The Internet has become a fixture of our day to day lives. Gone
are the times when a computer and a broadband connection were
luxury items. More and more people are relying on the web to
learn information about the real estate process, as well as the
market conditions, and to look at listings. Keeping this in
mind, it is important for any real estate professional to
understand why the internet is so vital to today’s business
climate, and why choosing not to get involved would diminish
their profits and reduce their competitive edge.

National
Association of Realtors (NAR) and California
Association of REALTORS surveys clearly show a considerable
increase in internet usage as opposed to traditional
advertising/media. People browse for listings as well as for
realtors. Let’s take a closer look at the results and their
significance for real estate brokers and agents.

Nowadays, people don’t accumulate information as much as they
used to. Instead they rely on the internet to help them. What is
easier than punching in keywords in a search engine only to get
what they were looking for faster and more accurately than
before. It’s only natural to take advantage of the web when
looking for a new home.

According to the CAR’s “2005 Internet Versus Traditional Buyer
Study”, internet homebuyers increased from 56 percent in 2004 to
62 percent in 2005. Clearly, the web has become an integral
element in house hunting for more than a half of homebuyers.

What would be the reasons for this?

It saves time according to 63 percent of homebuyers.

People search for listings in the privacies of their own home,
getting results from practically anywhere. It’s obvious they are
using the internet to preview homes. That way, they can make an
initial selection from a larger pool than from traditional
means.

According to the 2004 CAR report, internet buyers use an average
of 4.8 weeks to look for information on homes and neighborhoods,
before contacting a real estate professional, as opposed to 1.6
weeks for traditional buyers. However, once they finished their
preliminary information gathering, they spent significantly less
time with their agent and preview far fewer homes, spending 1.9
weeks, compared to 7.1 weeks for their traditional counter-parts.

Internet searches are especially important to people looking to
move in different parts of the country. According to the same
reports, internet buyers searched for a house within a median
distance of 100 miles from their residence, as opposed to the
traditional buyer – only 12 miles.

Considering all these facts, it’s no wonder that traditional
buyers’ numbers have decreased from 72 percent in 2000 to 44
percent in 2004.

Internet offers a wealth of information at a touch of a
button, anytime, anywhere.

The Internet has grown so big, one can find detailed information
about anything.

Brokers, agents and third-parties are able to distribute and
display a wealth of information about listings, mortgages,
loans, neighborhoods. Because these resources are available 24
hours a day, buyers are able to do searches in their own time,
using the same tool: the computer. This saves enormous amounts
of time.

People will normally want to get as much information as possible
from as many sources as possible. Therefore, realtors who will
develop their websites including specialized, insider
information and detailed listings complete with pictures, will
be more likely to capture internet homebuyers.

According to the 2003 NAR survey, buyers want two features in an
real estate website: detailed property information (77 percent
found it useful) and photos of the house (78 percent found them
useful). Virtual tours were appreciated by 47 percent. The
impact of these features was so great, that it spurred buyers to
action. 72 percent drove to see the house they found online, and
46 percent visited the house.

As stated before, internet shopping does not stop only to
listings. According to the same report, 18 percent found their
agent online as well. It’s a good bet that detailed property
presentations had a great impact in their decision.

NAR President Cathy Whatley, owner of Buck & Buck Inc. in
Jacksonville, Fla., said warnings that online information would
reduce reliance on real estate professionals have proved to be
false. “Almost every home placed on the market today can be
found on the Internet, and more buyers than ever are using the
Web to search for a home,” she said.

With that in mind, let’s take a look at the internet homebuyer
profile.

- Buyers who like to be in control

The internet has proven to be empowering to consumers. The web
has bred a news species, which is in control of the inquiry
process, all the while maintaining anonymity. This anonymity is
very important, as people generally don’t like to be rushed in
making a decision, especially if it is an important, as well as
costly, one.

- According to CAR’s “2005 Internet Versus Traditional Buyer
Study”, internet buyers are more likely first-time buyers,
younger, wealthier and better educated.

They are also more likely to be married.

- According to 2003 American Home Guide’s survey, the
majority of online shoppers are women, more than 60 percent, and
73 percent of them were younger than 45.

- Buyers like to be as informed as possible.

Knowledge is not restricted to listings and prices. It extends
to real estate transaction details, mortgage and loan
information. It is another plus for internet-savvy realtors who
can rush and fill in these blanks.

It is important for real estate professionals to speak the
language of the buyers. Keep in mind, that the younger
generation has been raised while using a computer, therefore
it’s natural to them to rely on the internet when searching for
information.

“While the Web is great in providing information, the survey
tells us that consumers rely on real estate professionals to
provide context to their research, and to provide services that
guide them through the negotiation and transaction process,”
says NAR President Martin Edwards, Jr.

In 2001, the CAR report highlighted the fact that 78 percent of
Internet homebuyers found their agents on the Internet, not as a
result of traditional methods such as farming, referrals,
advertising, or sign calls. This percentage has surely increased.

Furthermore, having a website and conducting communications
through email has become a mark of professionalism for any
business venture in today’s world. Having a website can only
help.

“The Internet has complemented rather than diminished Realtors’
role in the homebuying transaction,” said C.A.R. President Ann
Pettijohn. “While Internet buyers considered online information
to be valuable, they ultimately turned to Realtors both for
their interpretation of that information, and for their
expertise and judgment throughout the homebuying process. The
expertise and professional advice provided by Realtors creates
value over and above the market and property information itself,
even when the buyers obtain that information on their own.”

Resources:

CAR Report Shows Increased Use Of Internet By
Homebuyers by Blanche Evans

New Report Shows Gulf Between Internet and
Traditional Homebuyers by Blanche Evans

CAR’s Internet Versus Traditional Buyer Study
Shows New Trends by Blanche Evans

CAR Report Shows Increased Use Of Internet By
Homebuyers by Blanche Evans

Women Browse For New Housing More Than Men
by Broderick Perkins

New NAR Survey Shows Growing Web Use in a
Dynamic Housing Market

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Due to the latest developments on the real estate market, more and more people have decided to try investing in this field. After acquiring all the legal information needed and seeking expert advice, they went online and researched for opportunities using advanced technology. Today, all you need for real estate investing is a fast Internet connection and the courage to try new things.

Practically, the Internet represents a true real estate investment guide, helping you to benefit from real estate investment tips and learn the trends of the market. By using its many specialized resources, you will be able to understand in no time the secrets behind real estate development and profit making. You will gain the ability to acquire valuable properties at real good prices and sell them for a profit, thus learning the business of realty.

There are many factors that can determine your success in real estate and one of the most important is related to the level of knowledge you possess. The more you know about property purchasing, real estate investing and relevant financial information, the better. This is why you may find it useful to use the Internet as a real estate investment guide and discover all there is to know about real estate investment.

No matter if you are interested in a property for residential or investment purposes, you can still enter online and gather really important information about the hot spots on the real estate market. If you are looking for special investment tips, then you got plenty of resources online, showing you how the market fluctuates, where are the best property prices and also how you find a good place to invest in.

The secret behind real estate investing is to purchase the desired property at a a price below the market value and then sell it for a larger amount of money. This is called being successful in real estate and it represents one of the surest way to make a profit. However, it all depends on you having already accumulated all the specific details of the property, including the ones that may cause you problems such as property title, second or even third mortgages.

With real estate investment, you have to plan carefully every move and make sure you are being completely informed. The Internet can pinpoint the locations where you can start looking for property investment, while at the same time show you the exact advantages of renting properties and benefitting from the most recent developments on the market. The impact of real estate investing cannot be denied and many people have found that the key ingredient to winning is knowing the trends and being on constant lookout for opportunities.

The Internet has also managed to provide interesting information about foreclosure real estate investment. Attracted by these new concepts, more and more people started to inquire about this type of investment and look for ways to purchase undervalued properties. Foreclosed properties are in very high number today due to the many borrowers who cannot afford to pay their mortgage rates and have become some of the most sought-after properties at the current time. They represent a safe and beneficial financial decision as long as there are no strings attacted, meaning negative equity of other things like that.

As a final conclusion, we all have understood that real estate investing is all about knowing the laws and the movements of the market. With the Internet you now what to expect, what to look for and also what to be careful of. There are a great deal of tips out there, suitable for every interested client and they include: table of prices in a certain are, deceiving conditions and available market values. You just have to gain the capacity of recognizing something good and you will be ok.

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In my state, to get a real estate salesperson license you must complete 90 classroom hours of approved real estate courses. Can those hours be done in an online school? In other words, are there any approved real estate schools on the internet?

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I called a real estate company and i didnt ask that question but looked at gaining my real estate license from internet. I know real estate, i have 7 homes that i rent out, but unsure about the truth about online colleges. Please help. Thank you.

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