Houston Association of REALTORSReal Estate Information Symposium:Understanding the Internet Buyer<br />Spencer Rascoff, CO...
The Internet Consumer…<br /> Inhales information<br /> Does a lot on her own<br /> Demands timely responses<br /> Uses mob...
Information Overload? No such thing.<br />Buyers routinely accessing information including:<br />Historical asking prices<...
The Internet Buyer<br />84% of buyers.<br />They’re using Realtor.com and Zillow, and top local brokerage sites (and yes B...
What should agents & brokers do about it?<br />Syndicate listings<br />Meet internet clients’ needs<br />Sharpen your game...
Listings Syndication<br />Agents & brokers need to cast their net far and wide, including mobile<br />IDX is not enough<br />
Meet clients’ needs<br />1/3 of online leads ignored<br />Only 5% of online leads answered in their entirety<br />Avg resp...
Sharpen your game<br />Arm yourself with information, because your clients already have it<br />
Fish where the fish are<br />Linger at top of the sales funnel by providing free, useful advice<br />
Fishing is free, but bait’s not<br />Spend smartly online for extra exposure<br />
Questions?<br />Spencer Rascoff, COO Zillow.com<br />Email: spencer@zillow.com<br />Twitter: @spencerrascoff<br />activera...
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Spencer Rascoff - Zillow.com

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Understanding the internet buyer.

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  • Omniscient, Omnipotent, and Insatiable
  • No such thing as “the internet buyer”. Everyone is an internet buyer.But there are still some subtle differences among people who use the internet a lot and those who use the internet less
  • No such thing as “the internet buyer”. Everyone is an internet buyer.But there are still some subtle differences among people who use the internet a lot and those who use the internet less
  • No such thing as “the internet buyer”. Everyone is an internet buyer.But there are still some subtle differences among people who use the internet a lot and those who use the internet less
  • No such thing as “the internet buyer”. Everyone is an internet buyer.But there are still some subtle differences among people who use the internet a lot and those who use the internet less
  • No such thing as “the internet buyer”. Everyone is an internet buyer.But there are still some subtle differences among people who use the internet a lot and those who use the internet less
  • Spencer Rascoff - Zillow.com

    1. 1. Houston Association of REALTORSReal Estate Information Symposium:Understanding the Internet Buyer<br />Spencer Rascoff, COO Zillow.com<br />Twitter: @spencerrascoff<br />March 30, 2010<br />
    2. 2. The Internet Consumer…<br /> Inhales information<br /> Does a lot on her own<br /> Demands timely responses<br /> Uses mobile devices<br />2<br />
    3. 3.
    4. 4.
    5. 5. Information Overload? No such thing.<br />Buyers routinely accessing information including:<br />Historical asking prices<br />Days on market<br />AVMs <br />Mortgage amount of seller<br />Purchase price paid by seller<br />Valuations on nearby homes<br />Comps<br />5<br />
    6. 6.
    7. 7. The Internet Buyer<br />84% of buyers.<br />They’re using Realtor.com and Zillow, and top local brokerage sites (and yes Bob, sometimes MLS sites)<br />looking for listings and agents.<br />They do a lot for themselves,<br />and expect a lot from agents, including<br />instant responses.<br />And they use mobile devices.<br />
    8. 8. What should agents & brokers do about it?<br />Syndicate listings<br />Meet internet clients’ needs<br />Sharpen your game<br />Fish (& spend) where the fish are<br />
    9. 9. Listings Syndication<br />Agents & brokers need to cast their net far and wide, including mobile<br />IDX is not enough<br />
    10. 10.
    11. 11. Meet clients’ needs<br />1/3 of online leads ignored<br />Only 5% of online leads answered in their entirety<br />Avg response time to email: <br />10 hours, 16 minutes<br />Consumers expectations:56% within 30 minutes!<br />Source: WAV Group “The Consumer Online Real Estate Search Experience” March 2009<br />
    12. 12. Sharpen your game<br />Arm yourself with information, because your clients already have it<br />
    13. 13. Fish where the fish are<br />Linger at top of the sales funnel by providing free, useful advice<br />
    14. 14.
    15. 15. Fishing is free, but bait’s not<br />Spend smartly online for extra exposure<br />
    16. 16. Questions?<br />Spencer Rascoff, COO Zillow.com<br />Email: spencer@zillow.com<br />Twitter: @spencerrascoff<br />activerain.com/blogs/spencerrascoff<br />
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