Current Trends In Real Estate: How To Search For Property In 2013
Are you currently searching for real estate? If so, you know that searching for real estate in 2013 is much different than when your friends and family members were searching for real estate years ago.
Today’s prospective home buyer begins their search for their ideal real estate property online. Google search is the primary source for their online search. In fact, internet searches on Google for real estate homes and properties have grown approximately 253% in the last four years.
The Influence of Mobile
With mobile devices becoming increasing popular, buyers are using their mobile phones to assist them in searching for real estate. About 89% of new homeowners utilize a mobile search engine to help them find the property of their dreams. Mobile devices are very useful as it allows you to search for potential homes from any remote location at any given time.
Where is Demand?
Where do buyers research homes? An astonishing 77% of home research is performed in the comfort of your own home and 31% of home research is done at work where you often spend a majority of your day. On the same note, 28% of research is done while you’re waiting in line, 27% of research is done when you’re out dining at a restaurant, and 26% of your home research is done while you’re an someone else’s house.
Bear in mind that nearly 69% of home shoppers start their home research on a popular search engine with a local keyword such as “San Antonio homes for sale.” These shoppers will often partake in an average of 11 internet searches before taking action on a specific real estate website.
Actions Taken by Viewers
What actions are usually taken as a result of internet searches? After viewing real estate online, 76% of people will drive by the property to look at the home and 62% of these people will actually walk through a home that they viewed on an internet search. About 32% of people will find an agent that will help them search for, find, and purchase their dream home.
Video the Property
While you’re searching for real estate online, what do you look for? Internet home shoppers look for online videos. Approximately 54% of people who use the internet to search for homes took a video tour of an apartment, house, and its surrounding neighborhood. A surprising 51% of online home searches are done on YouTube as compared to 41% of these searches which are done on brokerage websites.
Traditional vs. Internet Shoppers
Let’s take a look a traditional homebuyer and an internet home buyer. Traditional buyers typically preview 21.7 homes before their actually purchase a home while internet shoppers only preview 6.65 homes prior to buying a house. Nearly 71% of traditional buyers purchased through a real estate agent compared to 91% of internet home buyers. Traditional buyers partake in about 2 weeks of research before contacting an agent while internet buyers perform 6 weeks of research prior to contacting an agent.