Let’s Talk Real Data

- March 27, 2007

Are you making an “impression” online or are you still waiting for the cell phone to ring based on your last direct mail piece? Let’s talk about the real state of the real estate industry.

There are many variables that pose challenges to the Real Estate Industry and competition is probably one of the strongest ones, so when potential buyers are looking for a home, it is important to be accessible in the search engines.

Direct mail is probably not going to cut it given that most of us take the mail to the trash can before reading it. Murphy’s Law plays a role in decision making. When you finally decide to buy a home, all of the direct mail that had gone to the trash can is no longer in your hands, but the internet exists at the click of a mouse.

Experts in the industry claim that over 44% of sales come from referrals and 11% come from past clients. This highlights the importance of staying in touch with your database.

The other half of sales come from other sources, and last year NAR reported that 7% came from the Internet, but that’s changing and changing rapidly. We can’t ignore the fact that almost 75% of consumers go to the internet to begin their search for a new home. In fact, it was recently quoted that over 5% of all searches performed daily were consumers searching for a new residence.

Understanding this data and following the trend dictated by the market is necessary. Are you making the right “impression”?

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