Internet the marketing tool of choice for realtors

Real Estate Weekly, August 6, 2003

AgentConnect.com and RealtyNow.com, providers of distinct marketing solutions for real estate agents, and corporate parent Next Phase Media, the world's premier online referral source, announced the findings of a national survey demonstrating the degree to which real estate agents and brokers have become increasingly sophisticated and avid Internet marketers.

In fact, according to the survey, an Internet web presence has become the most important method for generating real estate sales leads, after hanging a "For Sale" sign on the front lawn.

Survey respondents, however, say they rely on the Internet for far more than a web site to promote their real estate services and sales inventory. More than of respondents are already using an online referral network to increase sales opportunities, and 50% of those who do not, say they are considering joining a referral network. In fact, agents and brokers cited Internet lead generation services as one of the top four most popular marketing techniques.

The complete survey results are available at the web sites of AgentConnect.com and RealtyNow.com. (The survey was fielded this summer. Questionnaires were sent to over 10,000 registered agents and brokers. A total of 200 agents and brokers from every region of the United States answered the survey.

"Real estate professionals are quickly becoming sophisticated Internet marketers who understand the importance of a multi-faceted approach to the Internet to reach buyers and sellers," said Payam Zamani, founder and CEO of Next Phase Media, parent company of AgentConnect.com and RealtyNow.com. "In fact, more than two-thirds of the agents we surveyed are either using or considering an online referral network to capture qualified leads."

Only 7% of respondents say the Internet hasn't affected today's real estate business. Meanwhile, 72% agree that an Internet campaign is critical to remaining at the top of the market in today's business environment.

Generating client leads is clearly a major business and marketing concern for the industry. Increasing client leads and home sales were virtually tied as the top marketing objectives of respondents.

Business concerns cited most often in the survey were 1) state of the economy, 2) supply of area homes, 3) level of professionalism among competitors and 4) lack of qualified new client leads.

Agents and brokers say that because of the economy, buyers and sellers are more particular than ever and there are more real estate agents competing for business.

However, despite concerns about the economy, some 65% of respondents expect the real estate market in their area to be "very strong" or "strong" over the next 6 months.

The new survey study by AgentConnect.com and RealtyNow.com offers sound advice to consumers about choosing a real estate agent, buying a home and staging a house for sale. Among the Study findings:

* Knowledge of the local area, personality and compatibility, and energy and dedication are the top three characteristics, respectively, cited as criteria for choosing an agent.

* Spring is by far the best time of year to sell a home.

* The kitchen, by far, is the most critical room influencing the sale of a house, followed by the master bedroom and then the family room.

* In descending order of importance, the top five improvements sellers should make before selling a house are: remove clutter, paint the interior, paint the exterior, deodorize the house and make general repairs.

* Beige, followed closely by white, is the best color to paint a house going up for sale.

* For sellers, the biggest hurdle to a successful transaction is coming to terms with the true market value of their home.

* For buyers, the biggest hurdles to success are (1) finding and concentrating their efforts with a single agent who they trust and (2) being realistic about price.