Industry

Internet Plays Key Role in Real Estate Industry

The Internet increasingly plays a key role in the real estate sales industry, and this trend is expected to grow.

According to a recent article by real estate professional John Mudd, more and more homebuyers are using the Internet in some portion of their buying process, either to locate property for sale or to educate themselves.

By the same token, real estate professionals are leveraging the Internet to locate and educate potential buyers.

He writes on Blogcritics.org:

      …Internet homebuyers are quickly becoming the majority of homebuyers.

Most Internet homebuyers still work with a Realtor, and they do rely on their services and expertise when it comes to area information, property information and closing services, plus relocation services, but they also seek quite a bit of information on their own, whether or not they’re working with a Realtor.

***According to the “Internet Versus Traditional Buyers Survey,” traditional homebuyers decreased from 72 to 55 percent from 2000 to 2003, while Internet homebuyers increased from 28 to 45 percent, and still appears to be growing.

What does this mean for the real estate industry as a whole?

Well, it means that instead of cold calling to get listings, real estate professionals of the future are going to get most of their business from Google positioning and other electronic communications, other than SPAM, which is likely to become more regulated in the near future.

Smart real estate professionals, brokerages and other small and midsize businesses in the real estate industry will try to understand this trend and take advantage of it.

[“source-smallbiztrends”]

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