Real Estate in a Digital Age
The world we live in today is a digital one and searching for a home is no different. Buyers now have apps that let them search by location and neighborhoods. Online searching maximizes the ability to compare and contrast homes on the market by selected features. Most of this is done before a potential home buyer connects with a real estate agent.
In the Real Estate in a Digital Age report, we examine the process home buyers go through in the initial online search and how REALTORS® are connecting with customers in the digital space.
The typical buyer used a mobile device to search for properties online. S/he looked at websites with photos, home listings, and information about the home buying process. S/he then contacted an agent and visited a median of 10 homes over 10 weeks again in 2019 before purchasing a home.
81% of Older Millennials, 80% of Younger Millennials and 78% of Generation X found their home on a mobile device compared to 68% of Younger Boomers.
The most common feature on firms’ websites were property listings at 92 percent.
Social media was the tool cited as the best source for generating high-quality leads among REALTORS®, followed by Multiple listing service (MLS) websites.