Real Estate in a Digital Age | Using Digital Marketing for Real Estate | 2017

Digital Marketing Researches & Reports

Real Estate in a Digital Age, 2017 | NAR

E-Commerce & Retail | Global

The world changes in the blink of an eye. In the past, newspaper ads were the main source for home buyers to find a home but now buyers have online listings and apps that let them search by location and neighborhoods.

Read the top line findings to gain knowledge about real estate in a digital age:

Section 1: How Buyers Use Technology in the Home Search Process?

  • Among all buyers, 44% said that they looked online for properties for sale, while 17% contacted a real estate agent and 13% looked online for information about the home buying process.
  • Only 18% of Millennials said they looked online for information, while 53% of Younger Boomers looked online for properties for sale.
  • Almost all of Millennials search on online websites, compared to 89% of older Boomers.
  • 58% of Millennials and 46% Gen X mainly depend on mobile devices to find their home compared to 33% of Younger Boomers.
  • Millennials reported that photos (89%) and online information about properties (85%) are more important than any other pieces of information.
  • All buyers spend an average of 10 weeks searching for a home and see an average of 10 homes.

Section 2: The Utilization of Technology by Real Estate Firms

  • Over 90% of realtors are also using e-mail.
  • 93% of real estate firms have a website, compared to only 5% who don’t have one.
  • Property listings are the most common feature on firms’ websites, with a rate of 95%.
  • 48% of all firms surveyed indicated that keeping up with technology is their biggest challenges facing their firm in the next 2 years.

Section 3: Trends and Demographics in Realtors Technology Use

  • 94% of respondents said they preferred to communicate with their clients through email with an average of 3 times a day.
  • 94% preferred to use smartphones with wireless email and internet capabilities.
  • Realtors who were 29 years and younger were most likely to have a real estate blog with a rate of 17%.
  • Female realtors are more active on social media than males (74% vs. 66%).

Section 4: Keeping Up with Changing Trends

  • Most of the realtors (62%) cited that smart locks were the most important smart home device to clients, followed by lights (61%), thermostats (60%), and Cameras (51%).
  • 80% of realtors use Facebook, 71% use LinkedIn, and 32% use Google+.
Real Estate in a Digital Age, 2017 NAR

A Graph Shows the Use of Social Media for Searching Homes in 2017

NAR

Founded in 1908, The National Association of REALTORS® (NAR) is the largest trade organization in the United States; with approximately 1.3 million members involved in all aspects of the residential and commercial real estate industries besides 1,200 local associations/boards and 54 state/territory.Working for America's property owners, NAR provides a facility for professional development, research, and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property.
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